Become a SecureNow Insurance Agent or Advisor

An Insurance agent or Advisor is a professional who sells different types of Insurance products such as Life Insurance, Term Insurance, Health Insurance, Property Insurance, Transit Insurance and other types of Insurance to fulfill the needs of clients seeking insurance.

Insurance agents are the industry's front-line force, and they play a crucial role in the distribution and acceptance of insurance products by customers. They act as a pivot, coordinating with the Policyholders and the insurance agencies. They are in charge of marketing insurance products and explaining the salient features of the insurance policies to their clients. 

In order to fulfill their primary responsibility of selling insurance, the insurance agent or advisor; locates, analyses, and recommends the policy to the client. An insurance agent's primary goal is to increase sales by providing clients with insurance products, as per their individual or business needs. The agent is required to:

• Recognize the Client's needs and provide a policy that is transparent
• Provide fine details pertaining to insurance coverage to the client
• Take care of all paperwork related to the policy
• Keep a tab on Premiums and any Additional Benefits
• Assist in claims processing and settled

The domain of insurance agents is quite wide and they are required to multitask and get involved in many stages of insurance processes, right from inception stage to the claim settlement.

The Authority has notified Guidelines on Appointment of Insurance Agents, 2015 vide IRDA/AGTS/CIR/GLD/046/03/2015 dated 16th March 2015. In terms of the aforesaid guidelines, a code of conduct has been prescribed for insurance agents. This is prescribed with a view to ensure that the agents’ insurance solicitation is fair and comply to the terms and conditions to which their appointment is subjected to. As per Clause VIII.1) a) v) of Guidelines, the insurance agent has to disclose the scales of commission in respect of insurance products offered for sale, if asked by the prospect.

As per IRDAI’s Sec 42(3)(h) of Insurance Act, 1938 amended vide Insurance Laws (Amendment) Act, The Insurance Regulatory and Development Authority of India (IRDAI) has informed that as per 2015, an agent who has violated the code of conduct as may be specified by the Regulations will be disqualified to act as an Agent.

Steps for becoming an Insurance Agent:

If one has ambition, dedication and want to be an Insurance Agent or Advisor, here is the simple step by step guide on How to become an agent in an Insurance company:

• Registration - Enter your KYC
• Training - Minimum 15 Hours of training has to be completed
• Examination- IRDA conducts Insurance Agent Exam or IC-38 exam for various insurance companies. An applicant qualifying IRDA Exam will get a License valid for 3 years.
• Certification - IRDAI Approved

As per Regulation 4 of the IRDA (Licensing of Insurance Agents) /Regulations, 2000, the only requirement one need to have for becoming an insurance agent is that he/she must be over 18 years of age and should have completed Class 10. 

An individual must pass the IRDA IC 38 Exam to become a General Insurance Agent in India. There are institutes approved by the regulator, who conduct agent pre-recruitment exams on behalf of the IRDAI (Insurance Regulatory and Development Authority of India). Part from a bachelors' degree, desired students from other streams can pursue some insurance certificate courses to qualify as an insurance agent. There are few Insurance companies who prefer agents having a degree, along with at least one to two year of work experience.

So, anybody who has an aptitude for selling insurance policies, meets qualifying education and age criterion, can become an Insurance Agent. This includes college students, stay-at-home spouses, self employed, retirees, financial consultants, and businessmen/women.

Below list highlights 9 unique benefits available to insurance agents:

Start Earning at the Age of 18 - One advantage of becoming an insurance agent is the ease of entry; right after completing your 12th, you can become an insurance agent.

Be Your Own Boss - When you work for yourself, you can work as per your schedule, You can also develop your own system and processes for attracting and developing your client base.

Build a Stable Income and Control the Growth- The under-served insurance markets offers huge untapped earning potential. Agent’s one-time effort can build a long stream of cash flows, which can be maintained with minimal service efforts. 

Zero Investment Required- In terms of investment, insurance agents only need to put in their time and effort. There is no capping on the income that you can generate as an agent.

Flexible Work Timings- Unlike most office jobs, Insurance agents have flexible working timings. As an insurance agent, one can choose to work as per his/her convenience.

Make a Difference in People's Lives- Like doctors and teachers, Insurance agents can positively impact people's lives? They are equally rewarded as their work helps people to build assets, take care of child education, transfer wealth from one generation to the next, plan for retirement and much more.

Learn from Industry Experts - Agents of a reputed insurance company get a lot of opportunities to develop their personal and professional skills through expert-led training programs. The training may include classroom instruction, field exposure, and one-on-one coaching.

Working in the Digital World- Gone are the days when insurance agents used to take brochures and policy documents to meet clients. In today’s digital world, all brochures and application forms are available at your fingertips. These can be easily accessed by an agent,through a laptop, tablet or even on mobile phone, to present your insurance plans to your prospects and complete the formalities for customers.

Rewards and Recognition- An Insurance agent gets opportunity to experience various national & international recognition forums as an insurance agent. 

Eligibility Parameters:

• The applicant must be at least 18 years old at the time of applying
• Minimum qualification, Pass in 10th standard or equivalent examination from recognised Board/Institution
• Valid Identity Proofs - Copy of the PAN & AADHAAR Card, Proof of Educational Qualification, Proof of Age & Address.
• An applicant must clear the Insurance Agency Exam conducted by the Examination Body in the subjects of Life, General, Health Insurance as the case may be, and as per the syllabus prescribed by the competent Authority to be eligible for appointment as an insurance agent.

An insurance agent is responsible for identifying prospective customers for insurance products and overseeing a portfolio of existing clients. Some times also referred to as Insurance Sales Agents, they are professionals responsible for identifying risks, handling policy renewals, and tracking claims.

Insurance agents are responsible for providing advice, conducting intermediary services between the client and the insurance company, and selling life policies that payout when insured or their dependents need it the most. Its a responsibility of insurance agents to exercise due care and not to be negligently in carrying out the agency’s affairs.

Agents is duty bound to protect all confidential information of the clients. Further, the agent has a duty to keep the customers fully informed of all material information acquired as a result of the agency relationship.

The agent has a duty to account to the customer for monies handled. In some cases, the agent may have a duty to account to third parties for whom money is handled.

An insurance agent's primary responsibility is to locates, analyses, make recommendations and sell appropriate insurance products to individuals and enterprises. The agent is required to:

• Establish a client relationship with prospective buyers from various sources such as networking, cold calling, and referrals.
• Describe the advantages and fitment of different policies to customer as per their insurance needs.
• Suggests risk management strategies that fit clients' personal risk profiles.
• Respond to clients’ insurance-related questions and concerns
• Calculate dividends and create payment methods for customers.
• Prepare and present detailed sales reports on the progress of initiatives to management.
• Complete paperwork tasks, maintaining records and handle policy renewals.
• Tracks and assists client’s with their insurance claims
• Distribute proceeds of the policy after a claim is submitted and approved.
• Formulates and implement marketing strategies to compete with other individuals or insurance companies.

There are certain additional roles and responsibilities of an insurance agent including:

• Attending meetings, seminars, and events to keep oneself updated through learning about new products and services.
• Accurate premium calculations and making arrangements for payment. Managing stakeholders and updates them time to time.
• Managing stakeholders and updates them time to time.
• Keeping track of all the accounting systems, databases, and records.
• Keeping an eye on insurance claims raised.
• Ensuring customers satisfaction with insurance coverage and if the product meets their expectation
• Gaining industry knowledge by learning about new products and services on a regular basis.
• Assisting clients in resolving any unsettled insurance claims.
• Customizing insurance programme to meet the needs of each customer.
• Assessing the risk associated with prospective insurance buyers
• Ensuring all policy related documentation is completed and filed appropriately

Their responsibilities also entails providing insurance advice to clients, analyzing policy details, processing policy adjustments (like NCB) and policy renewals, and any other insurance services that client require. An insurance agent therefore is a liaison between the customer and the insurance provider.

Unlimited earning potential - As a insurance agent, you can control your earnings. You will work directly for the large client base that SecureNow has. Unlike an agent you are not tied to a limited number of insurance companies, and hence will have a more important position of serving as an advisor for the clients.

Flexibility - Whether you want to work from 9 to 5, work part time, or work on the weekends, an insurance career gives you the flexibility to choose your work timings. You can align your appointment times with weekends, maintaining work life balance in the processes.

Making a difference- As a life insurance agent, one helps his/her clients determine the best insurance plans to fit their budget and their needs. Besides ensuring client’s financial well-being, the time agent spend with them is invaluable.

Insurance Industry is Evergreen- People will always need insurance for protection from risk, so.unlike other industries, insurance provides agents with good job security.

Offers Variety- Insurance Agents are constantly completing multiple tasks every day. From meeting new people to selling various products, there is always something new and exciting happening within the insurance industry., there is always something new and exciting happening within the insurance industry.