Independent insurance brokers, also called independent insurance sales representatives or "business agents", typically sell a range of insurance products and insurance services, such as casualty insurance and property insurance. They are licensed in most areas to sell these types of policies and are expected to have years of experience and knowledge about the insurance industry and its offerings. While some independent insurance brokers are employed by large companies or financial institutions, many independent insurance brokers work on their own and are able to provide a unique perspective and understanding of how insurance works. Many independent insurance brokers are self-employed and do not work for an employer's company. Learn more about starting an independent insurance agency in this website. In order to become an independent agent, one must first fill out and submit an application. There are specific requirements to become an independent agent. The application process can be very simple, or it may require a lot of personal information and background checks. Most insurance agents are required to pass a background check that will include a check on their criminal records and verify that they have no bankruptcy judgments against their name. Some states require background checks of all independent agents at the same time as licensing and broker exams. Independent agents must also complete an ethical standards examination. It is expected that all good independent agents will pass this exam. In addition to passing the exam, agents must also participate in continuing education courses. Continuing education courses are usually held at either colleges or insurance companies. It is a good idea for agents to attend seminars or workshops to stay up to date with the latest insurance industry trends. Most agents will work to sell one type of insurance policies. There are independent insurance agency brokers who deal with life or whole life coverage, annuities, auto insurance policies and homeowners insurance policies. Most agents will have a specialty. Some specialize in selling policies for children or families. Others may work to cover business property. Still others may be knowledgeable about worker's compensation coverage and special accidents. Here is more information about benefits of an independent insurance agent. An independent agent can also be helpful when it comes to setting up different payment and benefit packages for your clients. You may be able to negotiate a better commission rate for policies sold by independent agents compared to those sold through a company. Some insurance company agents don't offer any type of payment plans. These policies typically don't cover all of the medical costs you would receive on your own. A good independent insurance agent will be knowledgeable and able to answer questions that customers have. Agents also should be available to answer questions and discuss policies with customers. Your agent should be willing to take the time to talk to you about all aspects of your situation. In order to get the best rate, independent agents often need to meet with potential customers and discuss policies in detail. Make sure you choose someone you feel comfortable working with. Check out this blog to get enlightened on this topic: https://en.wikipedia.org/wiki/Independent_insurance_agent.
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