Unemployment is the severest disease in India that cripples the young population in a great way, although the government of India does not see it in its true color. Nearly 16% of urban youth are jobless because of poor skills, a lack of quality jobs, and so on. This is the data being released by the Government of India; however, private agencies are quoting a much higher percentage of unemployment in India. But what are the options available presently to get employed and earn decent money to run your family's responsibilities smoothly?
In a very tight situation of getting employed, being an insurance agent appears to be a cake walk for the working population in India. Today, we have with us Mrs. Seema Chaudhary, an experienced insurance agent with a decade’s experience, who is going to shed light on the opportunities, scope, and benefits of carving out a career as an insurance agent in India.
What prospects does the insurance industry present to a person beginning a career as an insurance agent?
India’s insurance industry is growing very fast, and it ranks 10th in the world. The insurance sector offers many opportunities for young people as well as working professionals who struggle to meet their ends in today’s scenario. There are many reputed companies operating in this segment. The industry has been growing rapidly. People are aware, and regulatory support makes it easy to claim. A vast market is presented before you to tap into.
What are the career growth prospects for an insurance agent in India?
Before answering this question, I would say that getting jobs in the insurance sector is easy and rewarding. You will have flexibility in working hours, and career growth is immense; it totally depends on you and how much effort you put in to derive benefits. Moreover, you can start with an agent, and then you can elevate yourself to the roles of team leader, branch manager, or even move into specialized areas like underwriting or claims management. If you have a learning attitude, professional development is sure to happen.
Could you outline the earning potential for insurance agents in India?
Yes! Of course! The earning potential in the insurance sector is huge and immense. Agents are basically hired commission-based. A fixed salary is not offered largely. The more you sell, the better the output. Selling is not tough because people are more aware of their financial prospects and health complications. Therefore, if you have decent communication skills, you will always be going to hit the bullseye. Apart from this, companies are offering performance-based incentives, bonuses, and rewards for achieving targets. Insurance agents in India have lucrative career options available in the present day.
Do you think that specialization within the insurance sector is required for better scope in building a career in the insurance sector?
The world today is all about jacks of all trades rather than masters. Having said that, specialization in the insurance sector allows you to target specific client requirements and specific market segments. For example, you can specialize in life insurance for high-net-worth individuals, health insurance for corporate clients, or niche areas like marine insurance. Credibility is required to establish yourself in the market, and in the long run, you will be benefited for sure.
What are the other benefits of pursuing a career as an insurance agent?
There are many other benefits you can enjoy working as an insurance agent, such as flexibility in work hours and the opportunity to build long-term relationships with clients as well as individuals. It feels good and fosters personal growth to assist people and businesses in protecting their assets and securing their futures.
Insightfultake thanks Mrs. Chaudhary for sharing her insights on building a career as an insurance agent. Her guidance and pragmatic approach will help many surely.