Contents
- Insurance Agent
- Qualifications Need To Be An ICICI Prudential Life Insurance Advisor
- Insurance Agent Duties & Responsibilities
- 6 Simple Steps To Become An Advisor
- FAQ’s
- Q1. How d I become an insurance agent?
- Q2. Do insurance agents make good money?
- Q3. How can I become a successful insurance agent?
- Q4. What do insurance agents do daily?
Insurance Agent
An insurance agent helps the clients to choose insurance policies that are suitable according to their needs. He may also be known as an insurance sales agent. Customer includes individuals and families as well as businesses. The captive agent works for a specific insurance company. It also sells some of the company’s products, while another agent works independently or as a broker, and sells products from many insurance companies.
Qualifications Need To Be An ICICI Prudential Life Insurance Advisor
As per the Insurance Act, 1938 read with the Insurance Laws (Amendment) Act, and the IRDAI (Appointment of Insurance Agents) Regulations, 2016. The qualifications which are necessary for being an advisor are as follows:
- The minimum age should be 18 years old,
- You should have a minimum education qualification in the rural area is class 10 pass. And in urban areas is class 12 pass.
- It is a compulsion for you to attend Insurance Training whose organizer is ICICI Prudential Life Insurance and appear for the pre-recruitment test conducted by IRDAI authorized examination body,
- Moreover, you need to undergo Advisor Induction Program (AIP).
Insurance Agent Duties & Responsibilities
There are the following duties & responsibilities of an insurance agent:
- Create and follow up on leads, schedule appointments, identify client needs, and market appropriate products
- Close the sale with all of the current prospective customers
- Meet some new business production goals and objectives
- Provide all customer support in a friendly, prompt, and accurate manner
- Both Network and build business referral relationships
- Both Input quotes and work renewals for customers
Must read: Guide to Tax Return For Insurance Agent
6 Simple Steps To Become An Advisor
Step 1 – Fill an application form
You can complete the sign-up process online.
Alternatively, you can opt to have an ICICI representative get in touch with you at the earliest and assist you with the process.
Step 2 – Documentation
Following is the list of documents required for verification and registration:
- Age proof
- Address proof
- Education proof
- PAN card
- Passport size photograph
- Aadhaar card
Step 3 – Regulatory Training
ICICI helps you with special support and additional training to make you understand insurance better and prepare you for the Insurance Institute of India (III) exam. This training can perform one at your convenience, either online or at ICICI training centers.
Step 4 – Passing the III Exam
On completion of the Insurance Institute of India (III) examination, the agency appointment process is initiated.
Step 5 – Appointment
On completion of the process of agency, you will get an Appointment Letter from ICICI Prudential Life Insurance and will be having permission to sell ICICI Prudential Life Insurance policies.
Step 6 – Advisor Induction Program (AIP)
After receiving your appointment letter. Moreover, you will be taken through the ICICI induction program to help you understand the ICICI Prudential Life Insurance brand and a wide range of products. This program is aimed to equip you with the right selling pitches, product communications, and tools that make selling easier.
Learn about: Online VS Offline Insurance
FAQ’s
Q1. How d I become an insurance agent?
1st Step-Decide if you want to complete an associate or bachelor’s degree program.
2ndStep -Pick a specialty.
3rdStep -Complete pre-licensure requirements.
4thStep- Clearing a licensing exam.
5thStep- Apply at insurance agencies.
Q2. Do insurance agents make good money?
As per the Bureau of Labor Statistics, the median pay for an “insurance sales agent” is Rs.34,82,303.4 per year or Rs 1,673.93 per hour according to the latest data from 2018. As well as, this specifies a sales agent, and includes data from all types of insurance, not only life insurance.
Q3. How can I become a successful insurance agent?
- Focus On Good Salesmanship.
- Develop a Strong Work Ethic.
- Also, Study the Market.
- Keep Up with the Times.
- Learn From the Pros.
- And so Balance Work and Personal Time.
Q4. What do insurance agents do daily?
The insurance agent has a typical type of day which is totally filled with communication. And so, there are clients/prospects to see, coworkers to talk to, meetings to attend, emails to be responded to, and phone calls to return and much more work to complete. Insurance agents may receive hundreds of emails a day, plus calls, and other types of inquiries.
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