Commercial Insurance Agent Interview Questions: A Comprehensive Guide to Landing Your Dream Job

Insurance agents sell multiple types of insurance which may include health or life insurance. People who work as insurance agents can do a lot of different things. Some work for insurance companies, some work as independent brokers, and some act as brokers for other companies.

Insurance agents are the first people a customer talks to about a business, so they should know a lot about the products and services that business offers. They will have to go to meetings, programs, or seminars to find out about the company’s new products or services and to keep up with changes in the niche.

Insurance Agent Interview Questions

Question: What are some of your qualities that make you a good insurance agent?

Explanation: This is an example of a general or opening question. This question is meant to get you talking, learn a bit about you, and give the interviewer something they can use to ask you more questions. This presents you an opportunity to steer the interview into an area in which you are comfortable.

“The most important skills that make me qualified to be an insurance agent are my people skills and my ability to look at both the client and their assets.” This lets me put together a policy suggestion for the client and tell them about it, so they know why I think they should get a certain kind of coverage. I also have refined sales skills that help me manage the selling process from introduction through closing. ”.

Question: The insurance business is highly competitive. How do you differentiate yourself from other agents?

Explanation: This appears to be a general question, but it is actually an operational question. The interviewer will ask you this kind of question to find out how you run your business to meet your sales goals and compete with online insurance companies. When you answer this question, it would be helpful if you listed some of the best things you do as an insurance agent.

“As a real estate agent, I have to make sure I can beat out other agents, brokers, and online insurance companies.” This comes down to getting to know the business inside and out and working with clients to look out for their best interests. Strong relationships with clients and being visible in the community help me build a large client base that I can then use to make as much money as possible. ”.

You already know that you need to give a lot of presentations to make a sale. How well do you handle rejection, and do you let it impact your business?.

Explanation: This falls into the category of behavioral questions. Interviewers will give you a situation and then ask you how you would handle it or react to it to see how you would act in that situation. Behavioral questions are best answered using the STAR framework. This means describing the situation, figuring out the task you had to complete, talking about the steps you took, and focusing on the results.

Example: “Unfortunately, rejection is part of the job of an insurance agent. You have to go through a lot of noes to get to a yes. I’ve accepted this and don’t take it personally. I understand the client is rejecting the business proposition, not me. With every lost sale, I try to learn something that will help me get better at what I do and increase the number of sales I make. By doing this, each rejection becomes a lesson that is easier to deal with. ”.

Question: Can you describe your most successful sale of an insurance policy?

This is another question about behavior. The interviewer isn’t so interested in the sale itself, but in why you think it went well and how you did it. This should help you when you’re writing your answer. Pick a sale that was either hard to close or required special skills to make.

For instance: “The sale I’m most proud of wasn’t my biggest one; it was one that took a lot of skill and persistence to win.” It all began when a client asked me to help them get insurance for their home and car. They had a very competitive quote from one of my biggest competitors. I knew I couldn’t match the price, so I had to show the customer that the service I would give them was better than what my competitor could do. I lined up a lunch with several of my current clients and the prospect. The clients sang my praises and convinced the prospect they wouldn’t get the services I provide anywhere else. When I won the first sale, the new client bought more policies for other homes and cars they owned. He then told a few other people about me, which came from this sale and brought me more business. ”.

Question: What other kinds of strategy do you use to gain clients’ attention?

Explanation: This is a follow-up to the previous question. Any time you answer a question, you should anticipate that the interviewer will ask a follow-up question. This is done so that they can find out more about the subject they are asking about and learn more about it.

“I do a lot of different things to get a client’s attention so I can sell them my products.” Central to all these methods is demonstrating the value I provide and differentiating myself from other insurance agents. I like to get to know people by doing things like volunteering at community events, coaching youth sports teams, asking current clients for referrals, and getting involved in local groups. ”.

Most of the time, people who shop for insurance don’t buy what an agent sells them the first time. How might you persuade them not to shop elsewhere and accept what you are selling?.

This question is an operational one, and the interviewer wants to know how you deal with customers who don’t want to buy or who like to look around. As an experienced agent, you should be able to address this by describing the practices you employ. Again, focus on the results your actions produce.

Examples: “People usually like to get a few quotes on insurance before they decide what to do.” I encounter this frequently in my practice. To overcome buyer reluctance, I focus on value, service, and relationships. While price is important, I try to take it off the table. I keep an eye on my competitors’ prices and can show them to the client to show that while I may not be the cheapest option, the service I offer is worth more than the money they will save, especially after an incident. ”.

Question: Many clients meet with us to get clarification on specific aspects of their policies. How do you help them understand the more complex points of an insurance policy?.

Explanation: Insurance plans can sometimes be very technical, leading to confusion on the client’s part. They want an agent who can explain things in simple terms so they feel at ease working with your business. The interviewer is seeking to understand how you overcome this and gain an idea about your communication style. As you answer this question, you can use the same language you use when you’re explaining complicated insurance ideas to a client.

Example: “Insurance can be a very confusing topic and difficult for people to understand. When I talk to a client about a policy, I make sure I use very clear and easy-to-understand language. I avoid industry terminology, acronyms, or any other language with which the client is not familiar. I actively listen to them and address any questions they have. Finally, I confirm they understand what I told them and correct any misunderstandings they may have. ”.

You’ve made it clear that when you sell a policy to a client, you stress the value of service. However, sometimes you may have to bargain with some buyers. How do you negotiate the price or terms of an insurance policy?.

Explanation: This is one of the more difficult behavioral questions you may encounter. Many insurance salespeople prefer to sell based on price only. Selling value is more challenging and requires additional skills. As an example of how you would negotiate an insurance policy, you need to show the interviewer that you have these skills. If you can, provide an example of when you were successful in doing this.

Example: “I took a course on negotiation and sales tactics before I got into the insurance business. This taught me to look for other things that the buyer cares about that can be used to make price less important. One time I had a difficult client who kept putting pressure on me to lower the cost of their policy. I knew the underwriter would not allow me to do this. Instead of lowering the price, I agreed to give the client my personal phone number so they could call me when I wasn’t in the office. This made them feel special and was not something other agents had offered them. They agreed to the higher price because they felt they were getting a unique service. ”.

Question: What techniques do you use for self promotion and advertising?

Explanation: By now, you should recognize this as an operational question. The interviewer is seeking to understand how you promote yourself and your business to prospective clients. This question should be easy for you to answer since you have either been trained to do it or have done it before. Avoid trying to provide too many details. The interviewer will follow up if they need more information.

Example: “There are several marketing and advertising techniques I use to promote myself and my business. Some of these are direct mail, giving away free stuff like notepads and golf balls with my contact information on them, sponsoring local sports teams, and going to local events. One unique and effective way I’ve found is to hold a charity walk and give the money raised to a local community project. ”.

Question: A key selling technique is asking the right questions to discover the needs of clients. How do you do this?.

Explanation: This is another operational question meant to help the interviewer understand your selling skills and techniques. Selling skills is the key competency a successful insurance agent needs to possess. It’s helpful to know a lot about insurance, but what sets you apart is your ability to work with people and help them through the sales process. The interviewer should be able to understand what question-based selling is and give you an example if they need it.

For example: “Selling is just finding out what a buyer wants and then setting up your goods or services to meet those wants.” Most of the time I spend with clients, I ask them questions and try to learn as much as I can about them, their family, their property, and other things that are important to know when buying insurance. I then talk about the products and services I offer and show how they meet the needs the client has already told me about. ”.

Salaries for insurance agents range between $45K and $68K with the median being $65K.

• Degrees (associates, bachelors)
• Years of Experience
• Location
• How you are reported to (how senior the manager you work for, how many direct reports you have, and how many office staff you have)
• Level of Performance – exceeding expectations

Be ready for anything with the interview simulator.

INSURANCE Interview Questions and Answers (Insurance Clerk, Insurance Broker, Agent & Manager)

FAQ

Why should we hire you as an insurance agent?

What is most important to you in your next position insurance agent?

What questions should a commercial insurance agent answer?

To get ready for your upcoming interview, it’s essential that you’re prepared to answer questions about everything from risk assessment to relationship building. In this article, we have compiled common interview questions for commercial insurance agents along with insightful tips on crafting compelling responses.

What questions do insurance agents ask?

Most interviews will include questions about your personality, qualifications, experience and how well you would fit the job. In this article, we review examples of various insurance agent interview questions and sample answers to some of the most common questions. What led you to pursue a career in insurance?

What is a commercial insurance interview question?

This question helps the interviewer gauge your analytical skills, your understanding of commercial insurance products, and your ability to make sound, strategic decisions. Example: “To determine appropriate coverage for a commercial client, I start by conducting a thorough risk assessment.

How do I prepare for an insurance agent interview?

In conclusion, preparing for an interview for an insurance agent position is not just about rehearsing answers to common interview questions. It’s about demonstrating your understanding of the role, showcasing your skills, and highlighting how your experiences align with the job requirements.