My story, or how I got into insurance
At the age of 17 I finish school and go to college . I study there for a year and understand that this is not for me, neither this study, nor the prospect of working on the railway in the footsteps of my father. I decide to withdraw my documents from the university. Of course, the parents are shocked, especially the father, since everything did not go “according to plan,” their traditional parental plan. They tell me that since I wanted to be an adult, then go to work!
Without thinking twice, I go and get a job as a construction worker . After working for about 4 months and being tired “like a dog,” I decided to leave there. I am already 18 years old, I passed the driving test and received a license to drive a vehicle. I'm going to work as a courier for sushi delivery. After working for almost 3 months, I managed to save up for a Lada 7th model, and became its “happy” owner for 45 thousand rubles. And this is where the fun begins.
“Having quickly figured out and understood how this (insurance) business works, I decided that I could do the same thing myself.”
Agent - beginning
One of my mother’s friends, seeing that I bought a car and am mobile, invites me to work in his insurance office at the traffic police (GAI). To be honest, I didn’t expect anything interesting from working as an insurer , but I decided to agree because I had nothing to lose, and a new opportunity was a step forward. In a week, I completely learned all the basics of compulsory motor third-party liability insurance (OSAGO) and already began to go out on shifts alone. And a month later I was the best salesman in my office in terms of revenue and number of policies sold.
Having quickly figured it out and understood how this business works, I decided that I could do the same myself.
How to get a job as an auto insurance agent in large companies
At the beginning of work, the insurance agent should study the conditions offered by large companies, select the most suitable one, and contact the representative office of the insurance company.
To become an employee of an insurance company, when applying for a job, you fill out a questionnaire with a detailed description of personal qualities and work skills. An interview is conducted with the security service, photocopies of personal documents and resumes are provided. If you have experience, references from previous places of work will not hurt.
Based on the data provided and the results of the interview, the insurance company evaluates the candidate.
If a positive decision is made, an invitation is sent to the applicant, a bilateral agreement is concluded, and the agent begins work.
To begin brokerage activities in an insurance organization, according to the legislation of the Russian Federation, you must obtain a license. This document is issued to adults who meet the above conditions. A firm's broker can be an individual or organization engaged in intermediary activities between the firm and the insurance agent.
The work of an insurance agent is available to any person who has reached the age of majority, regardless of place of residence, special education, gender and age. He must submit an application, undergo an interview and conclude an agreement.
RESO guarantee
To become an insurance representative, you must:
- dial the company number;
- agree on a date for psychological testing and an individual interview;
- take tests and an interview on the appointed day;
- insure against accidents under the Personal Protection program;
- complete a training course for a period of fourteen days, with seminars and trainings on insurance issues;
- After training, enter into an assignment agreement with partners of the regional company REKO-Garantiya.
We invite you to read: Contract for difference in price
Any citizen of the Russian Federation who has reached the age of eighteen can become an applicant.
An insurance agent's income is the percentage of sales that he receives for each policy issued to a client.
An insurance agent is a startup
Decision is made. And I left. I realized that I could start on my own. From scratch.
I had about 50 thousand rubles in my pocket and a wealth of knowledge on how to sell insurance products. I'm starting to look for an insurance company that would be interesting to work with. And the first offer for me came from RESO-Garantiya in Noginsk. After meeting the management, no more than two weeks passed before I had an agency agreement. After talking with existing agents, I realized that they are collecting a database from scratch - through friends, acquaintances, in short, using phone contacts. This didn't suit me. I decide to open an office.
Within a week I find an office in a car complex in the microdistrict. Zarya for 10 tr. per month. I buy a table, a chair and a printer, take an old laptop and move in. In the first month I sold 2 OSAGOs, but I went out to each client of the auto complex to get acquainted. Since the second month I have already sold about 10 contracts, and people began to recognize me. After 4 months I already had a small client portfolio, but it was there. The office was working well.
“My insurance office has been running successfully for two years and has allowed me to further develop myself as an entrepreneur.”
How to choose an insurance company?
Before becoming an agent of any insurance company, you should pay attention to its reliability. To check this, you can contact rating agencies. For example, according to the Expert RA rating agency, only 4 companies have the highest reliability rating ruAAA: Ingosstrakh, VTB Insurance, Sberbank Insurance and SOGAZ.
The second factor important for the agent is the size of the commission (CR). It may vary from company to company. All insurance companies traditionally have lower commissions for compulsory motor vehicle insurance policies. Although auto insurance is mandatory, it is often unprofitable for insurance companies. For example, RESO-Garantiya is ready to pay its agents up to 10% of the cost of the MTPL policy, i.e.
Examples of insurance companies where you can become an auto insurance agent:
- RESO;
- Rosgosstrakh;
- VSK;
- Agreement;
- Renaissance Insurance;
- Ingosstrakh, etc.
The third factor can be called the portfolio of insurance services that the company can provide and the tariffs for them. If prices for compulsory motor liability insurance are strictly regulated by law, then prices and conditions for CASCO policies can vary greatly among different insurance companies. In order to be able to provide the client with a choice in protecting his car, you can become a representative of several insurance companies. Some companies even welcome experienced agents coming to them with a portfolio of clients.
Another opportunity to offer clients the maximum number of policy options is to become an agent not with an insurance company, but with a broker. The disadvantages of working with a broker include the fact that this is an extra intermediary between you and the insurance company. At the same time, you will bear all responsibility to the client if the broker, for example, does not pay for the MTPL or CASCO insurance policy on time from the insurance company.
An insurance agent is an entrepreneur
After six months of working in the microdistrict. Zarya knew me, and I was already earning good money, but the owner decides to raise the rent. We argue and I leave. By the way, I had a capital of about 100 thousand rubles. and a mini briefcase. I understand that we need to take the business to a slightly different level and am already renting an office in the city of Zheleznodorozhny in a new area. I move furniture and make a sign on the facade, call old clients and start everything from scratch.
At first there were few clients, because it was important for people:
- trust in the brand,
- recognition,
- trust in the person you work with,
- office promotion.
“The client returns not to the place where he was sold insurance, but to the person who worked with him.”
But every month I saw a steady increase and new faces of clients, and I realized that I was right .
My insurance office has been operating successfully for two years now and has allowed me to further develop myself as an entrepreneur.
Broker or agent? Who to be?
We have now spoken exclusively about individuals, since an insurance agent always acts as a private representative of a legal entity. This is one tiny unit of a huge front of insurance work, one might say, a persistent tin soldier infantryman. An insurance broker performs slightly different functions - he should ideally represent the interests not of a specific insurer, but of the policyholder, considering all possible options for purchasing a policy and offering the most profitable and optimal ones.
To put it briefly and to the point, there is only one formal difference - the broker has the official status of a legal entity and must undergo licensing. Becoming an agent, of course, is much faster and easier, but a broker works with a large number of companies and clients and most often earns better accordingly. In addition, the agent works “for someone else’s uncle,” although he does not have a direct superior telling him what to do, and the broker works for himself, so he has more incentive to try.
Insurance broker: nuances of work
If no one teaches the profession of “insurance broker,” how to become a real specialist? Ask for advice on thematic forums from more experienced comrades who have already passed their thorny path from an intern to a major boss and head of their own insurance organization. There are not many secrets to success, and we have listed them all: hard work, determination, self-confidence and victory.
Another important point is that the profession of an insurance agent does not require any investments, and with complete dedication, it immediately begins to generate income, and to open your own business, that is, to become an insurance broker, you will need an investment of at least 10 thousand dollars - and this is only at the most modest calculations. This money will be used to rent an office, pay for the first months of work of staff (accountant, secretary, agents), “promotion” of the company, that is, advertising.
However, the broker no longer “runs” after clients, finding an individual approach to each, becoming for his policyholders both mom and dad, and best friend in one person. A broker sits in the office and waits for clients to come to him - but this does not mean that there is no need to work on the client base and advertise in local media.
A universal insurance broker deals with all types of insurance, unlike companies that can specialize only in car insurance or VHI policies. Cooperation with such an organization is beneficial for everyone - both clients and insurers. The former receive a wide range of insurance options, while companies do not need to search for policyholders on their own.
Choose your path
The insurance market is very diverse; everyone can find their niche in it. It just seems that there are an incredible number of agents and brokers and the competition is high, but there are only a few truly highly professional specialists. Do not stop there, and you will achieve impressive success, no matter what type of activity you choose.
We understand how difficult it is sometimes to start working! That is why Insuri will gladly help you take confident steps towards the title of “insurance agent” or “insurance broker”. Register in our professional community and use all the necessary “tools” of an insurance specialist online, day after day, absolutely free, develop and improve! Calculation, creation of a commercial proposal for a client, communication with colleagues, exchange of experience - you will get all this on INSURI without spending a penny. Insurance is an area in which you can realize your potential and make good money at the same time! Register now and go for it!
