How to be an Insurance Agent from Home?

The insurance industry is one of the most growing industries in current times. Are you one of those who want to step into this industry and seek guidance on how to become an independent insurance agent Jacksonville? According to recent reports, it is projected that the scope for independent agents is very high in the coming years. Let’s see how to be an insurance agent from home.

Let’s understand how to become an independent insurance agent and further even open an insurance agency of your own.

How to be an Insurance Agent from Home in Jacksonville

Independent agents are agents who represent various insurance companies. They sell the products and policies of these companies to the client. Their primary goal of an independent insurance agent is to sell insurance while maintaining a strong relationship with customers. The nature of their job is flexible and allows them to grow both personally and professionally.

how to be an insurance agent from home

Benefits of Becoming an Insurance Agent from Home

The benefits are many compared with captive agents who represent only a single insurance company. Independent agents have the freedom to sell various policies that enable them to make a better impression with the clients. While selling policies, independent agents get to choose the type of insurance lines they want to sell. The insurance lines could be personal lines such as life, health, and auto and/or commercial lines such as liability, and property & casualty. This allows clients to get the right coverages that they need. Further, clients also tend to seek advice from a local insurance agent more. In addition to that, independent agents also have an extra income source through a commission from renewals.

How to Start an Independent Insurance Agency 

According to the Insurance Information Institute, there were 36,500 independent agencies in 2018.There are two options you can consider while starting an independent insurance agency. These options are helpful as they guide you through the process, making it convenient for you to focus on profit-making. The options are:

Book of Business for Insurance Agent

This option suggests you buy a business book from an existing insurance company. Although the amount may be as high as $500,000 or more, it would still be beneficial to handle the agency.

Agency Model to Become an Insurance Agent from Home

In the second option, you can become an independent agent through an agency model. Agency models help agencies grow by providing them with proper support and assistance. There are two further agency models you can consider for this: Franchise Model and Insurance FMO model.

The franchise model provides adequate guidance and assistance while the agency can focus on insurance sales and lead generation. The agency will be associated with a well-established brand by adopting this model. On the other hand, the FMO model provides the same assistance and help but offers extra benefits. The commission split occurs between the FMO and the agency. The usual division is 80/20. This model is popular as it benefits both parties and is more effective.

Key Takeaway from How to Become an Independent Insurance Agent in Jacksonville

With the information given above, you will be aware of how to become an independent insurance agent in Jacksonville. Since the scope of insurance is high, there is a wide pool of opportunities waiting for you. Hence this step will be the right choice for you to take. You can also read our how to become a licensed property and casualty insurance agent blog for more information. Lastly, a modern agent also needs to know about e and o insurance, cyber liability insurance, as well as e and o insurance for insurance agents. Read our blogs to learn more.

how to become an independent insurance agent
how to become an independent insurance agent