How to Find an Insurance Broker
A common question among common man. How to find an insurance broker or an insurance advisor or insurance agent who is best to advise about the right products. This article will give an exact idea on the qualities of an insurance agent or broker where the clients look into. Read further
Behind on how to find an insurance broker
Being an insurance advisor is not a big task. Each business development managers have target to appoint number of advisors under him. If you want to be one, you can approach him directly.
But, after being an advisor, not take this profession as a license to cheat people for selfish gains. Customers should be aware to identify the required qualities of a good insurance advisor to avoid traps. Below are some good qualities a perfect advisor should have.
An insurance broker must be honest enough
Honesty is the most important quality among other qualities. An advisor should be able to present the advantages and disadvantages of a product that he is selling.
He should make the customer aware about the profit and possible impacts of the product for short term and long term.
The naked truth is, most of the advisors are just being an advisor with only motive to get commission and they will use every possible and ugly method to trap the customer. In a plain word, it is known as “cheating”
Should have enough product & industry knowledge
An advisor should have very good knowledge about the product he is selling as well as able to compare with similar products available in the market.
He should be able to undertake comparative study between various products from other companies falling under the same category.
This knowledge leads him to identify features of each available product as well as enable him to give proper advice to customers to select a better one.
He or she should have passion towards profession
An insurance advisor should be passionate towards his or her profession. As passion to the profession is a must to build honesty to job.
Nobody in this world can reach to success with any field were to he doesn’t have any passion. This quality enables one to dig maximum into a product to identify the qualities and errors.
Should have high level of business ethics
It is yet another important requirement to being an Insurance agent; he should be qualified enough to be an insurance advisor.
In every business manual, business ethics has a major session to learn. By the sake of god, not many people showing this important quality of having business ethics.
If an advisor has enough business ethics, he will never hide the disadvantages of a product from customer to whom he meet.
Those who doesn’t have this quality, will use all possible ways to polish or hide the product disadvantages to sell the same for his personal gains.
Must be customer centric
This is one of the most required qualities to an Insurance Advisor.
He should be able to understand the customer requirements well to advise him a proper product.
Even though it would be difficult to find one with all these qualities.
Should have necessary financial planning skills
Insurance is one of the most important areas in personal financial planning. Thus, a good insurance advisor should have excellent financial planning skills.
Without this skill, an advisor is just like any ordinary person, who will not be able to identify the exact requirements of the customers to advise correct products and services to them.
Also, through having this quality, an advisor can easily plan insurance needs of the customers and lead to correct products.
Multi product awareness is mandatory
Good insurance advisors should have very good understanding about the products that he has in his basket as well as outside, that required build a better insurance portfolio for customers.
Insurance is not only the product one can use to build a financial portfolio. There are various products required to balance the financial portfolio of the customer.
With less knowledge on products other than what he sells, I can’t say he is a good Insurance Advisor. But, he is a dumb advisor and customer should avoid such advisors.
Must show good follow up skills
Selling an insurance product doesn’t fulfill the job of an Advisor. He should keep track of each customer and should be able to advise him time to time to leverage maximum benefits from his investments. Especially customers choosing insurance products with an intention of investing.
He should keep all the required information’s about the customer and the product that customer bought through him. This information will be useful to track the changes in the future as well as contact the customer if there is any action required by them.
Requirement of self update time to time
Advisor should spend enough time to update his product skills as well as other products were he should have enough skills when dealing with customers.
He or she should be aware about the market changes and innovations happening in his/her area of service as well as the features of new products that launching in the market. This would help the advisor to inform the customers time to time.
Conclusion
A good insurance advisor must be a good listener. There are other qualities like interpersonal skills and good corrector etc. Even though above mentioned qualities requirement help customers to find a best insurance broker or advisor.