Grow Your Career as an Independent Health Insurance Agent

Health Insurance Agent
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Selling health insurance is challenging mainly because of these three things:

  • Health insurance is an abstract product that’s complex, as it tends to be difficult to understand for the average person.
  • It’s expensive, and no one wants another expense to add to their list.
  • People think they won’t get sick.

When done right, you’ll not only earn a lot of money, but you could also help people save cash on their medical expenses. Despite the challenges, there are things you can do to make life easier. Here are some of them:

Get digital

The fact is when people or organizations start realizing that they might need health insurance, they would start by searching the Internet. If you’re not online yet, it’s high time to market your business on the World Wide Web. Join the 90% of agents who, according to SMA research, consider themselves as digital insurers.

The possibilities are limitless. You can set up a Facebook page and market it using paid advertisements. You can also create a website where people can directly call you for a free consultation. You can even ask for their e-mail address in exchange for a free quote.

The goal is once they find you online, you need to give them what they want. It can be a quote, a list of plans, and even a contract, and you have to do it in the quickest way possible.

Expand your offers

The steep price of health insurance plans is one of the biggest stumbling blocks for small to medium-sized companies, especially when offering benefits to employees. When you encounter a company that doesn’t have the capacity to offer health insurance benefits, consider widening your offer.

A goal that companies are trying to achieve is satisfying the needs and wants of its employees so they can increase employee retention. If they can’t afford health insurance benefits, be an employee benefits consultant instead. Suggest other kinds of benefits. Can the company offer free gym membership? Maybe free travel gift cards once a year?

Work with an FMO

Health Insurance Agent with client

If you want to free your time and increase the efficiency of your business, a health insurance FMO can help. In the simplest sense, field marketing organizations (FMOs) assist agents and agencies in marketing, selling, and distributing insurance products.

Here are a few services that an FMO offers:

  • Hands-on support – If you need help with a product or contract, FMOs have the expertise to help you via email, text, or chat.
  • Sales tools and resources – FMOs don’t earn when you don’t, so they will be as invested in your success as you are.
  • Online contracting – FMOs have the technology to let you ditch all the paperwork involved in contracting and do it all inside a single software.
  • Direct contracts with insurance carriers – The carrier pays you directly.

Working smart is the key to growing any kind of business. Marketing, consulting, meetups, contracting — all of these activities eat up precious time for health insurance agents. If you want to scale your business, outsourcing some of your processes, expanding your offers, and focusing on what you do best is the key to success.

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