How to be a good insurance agent

Experts say the days when anybody could sell insurance are gone. Apart from getting a licence to operate, an agent requires specific traits to succeed in the industry, SIMON EJEMBI writes

Selling insurance policies in Nigeria is much different from selling them in developed countries, where there is a high level of awareness about the benefits of insurance.

The Director, Public Relations, Nigerian Council of Registered Insurance Brokers, Mr. Tope Adaramola, says there are many bottlenecks that make the job of an insurance sales agent in Nigeria tougher than that of his counterpart in any of the advanced countries. From cultural barriers to poor awareness, he stresses that an insurance agent has many hurdles to cross.

While it is a simple job, he explains that it is not difficult either, especially if the potential agent has certain qualities, from good training to great enthusiasm.

Some of the traits suggested by Adaramola and other experts are explained below.

Good training

According to Adaramola, having realised that a situation where just anybody could get into the insurance sales business led to a lot of damage, agents are now licensed.

He explained that for an individual to be an agent, there is the need to go through the Association of Registered Insurance Agents of Nigeria, which regulates insurance agents in the country. After undergoing training under the appropriate wing of the association, the individual will then be licensed by the National Insurance Commission.

Knack for knowledge, creativity

Adaramola explains that apart from the basic training, for one to be a good insurance agent, the individual must have a knack for knowledge.

“The person must have a knack for knowledge about his stock in trade, which is insurance; the reason being that you cannot market a product that you do not know much about,” he says.

Experts explain that some insurance salespersons underestimate their potential clients. Consequently, they do not equip themselves with adequate knowledge; going about with only the basic information about their products. Agents in this category are often known to say things like, ‘I will get back to you’ or ‘You can get further information from…’ They fail to realise that by having even more information than they require, including about a variety of products, they are in a better position to convince their targets as they would come across as experts.

Conviction about products

Once an agent doesn’t have faith in the product or policy he or she is selling, experts say that person is sure to have difficulty convincing people to buy it.

Adaramola explains, “It is also difficult for you to market a product that you are not convinced about. But you will be successful if you believe in the product you are marketing.”

Stressing that prospective clients are bound to ask agents whether they have used the policy they are selling and if it worked well for them, he says, “You must have knowledge to understand the dynamics of it and what it involves.

“You must also realise that insurance is not like every other intangible product in the sense that it is a product that has legal underpinnings. There are legal issues that you must be able to personally understand with a view to being able to explain it to your prospective customers.”

 Resilience

“Another attribute that you must have is the ability to squeeze water out of a rock because insurance in this part of the world is sold and not bought,” says Adaramola.

He explains that this means the ability to be persistent and to remain enthusiastic despite odds.

He adds, “Unlike what you have in advanced countries of the world, where the people are properly informed about the value of insurance, here in Nigeria, you have a lot of inhibitions to insurance growth and part of it is the poor awareness and the beliefs that people have.

“For instance, when you want to sell life insurance to some Nigerians, they will ask you if you are wishing them dead. There are instances where you want someone to do child’s endowment and he would tell you that it is God who holds tomorrow. If you ask some people how many children they have, they will tell you that based on their traditional beliefs they do not count the number of children they have.”

According to him, the fact that you explained something or presented an insurance policy to someone today and he doesn’t seem to agree with you shouldn’t make you to give up.

 Good human relations

According to experts, good human relation skill is one of the most important traits an insurance agent should have. Some of them argue that there is no way an agent can succeed with bad human relations.

A good agent should be able to interact with potential prospects easily, knowing when to listen and when to talk and empathise with them when necessary.

Having good human relation skills also makes it easier to develop an excellent customer-client relationship and it allows the agent to provide effective customer service. The relationship does not end after the policy is sold. The client may call suddenly for certain clarification now and then and how they are responded to can determine whether an agent will do further business with them or not.

A great presence

 This has to do with the appearance of an agent, from the way you dress to your mannerism, and tone.

According to experts, in a place like Nigeria, appearances matter a lot. And for insurance agents to be taken seriously and granted an audience, it is important for them to ensure that they dress professionally. It is also advised that an agent should avoid using street language and slang except in neighbourhoods where they are sure the only way to reach an individual is by ‘blending in.’ Appearing in a slum with a luxury car and dressed in expensive clothes may give a prospect the impression that they cannot afford whatever policy an agent has to offer.

Having a strong presence involves being cheerful and enthusiastic. People are often more comfortable with cheerful, enthusiastic people as they get the feeling that such people are problem solvers; people who have ‘everything’ under control.

The ability to discuss a variety of issues from football to the economy may come in handy.

Great focus

An individual who is not mentally and physically prepared may not end up becoming a great insurance salesperson. This is because the process can be stressful as potential clients may be resistant to the basic sales speech. A lot of energy, persistence and credibility are, therefore, required.

While the ultimate goal is to make sales, which in turn leads to a commission or better pay, experts say it is unwise for a sales agent to focus solely on the gains as that would affect his ability to sell a policy. They also say the focus should not be on the features of the policy; rather, it should be on what the client stands to gain from the policy.

According to them, it is best to focus on the benefits of the policy to the potential client. Once this is done honestly and the prospect is convinced that there are benefits, he is more likely to buy.

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