If there’s one great thing about selling insurance, it’s that you can easily do it from your own home. For those equipped with an entrepreneurial spirit and great organizational skills, you will likely enjoy the freedom that working from home can afford.
You can make your own hours and directly reap the benefits of the time and effort you put in. If you are driven to make an impact in people’s lives, selling insurance from home could be a lucrative and gratifying business.
How to Sell Insurance From Home
What’s more, working from home is more popular than ever. According to Global Workplace Analytics, more than 5 million people now work at home at least half of the time. That’s a 173 percent increase since 2005.
However, it’s not always easy to know exactly how to get started. Read on for a step-by-step guide to selling insurance from the comfort of your home.
Benefits of Working from Home
Before learning how to sell health insurance from home, it’s worth asking, “What benefits will I see?” There’s plenty to gain from making the transition. Here are some popular benefits of working from home:
- Higher earning potential: Without the time restraints and distractions that come with the traditional office, you can increase your productivity and make more money. According to a recent CNBC report, the median salary for at-home earners is more than $4,000 higher than that of other workers. If you’re motivated, working from home can help you restructure your workday and earn more.
- Lower costs: You can save heavy on costs by eliminating your daily commute, eating fewer meals on the run, and needing a babysitter less often. In fact, one study by Airtasker found at-home workers save an average of $4,523 on fuel costs alone. These subtle changes can help you spend less and save more.
- More freedom: When you sell insurance from home, you have the freedom to set more flexible work hours. Want to sleep in a bit longer or start the day earlier? Working from home makes it possible to work at the times when you’re most efficient.
- No more stressful commutes: Driving to and from a workplace every day can be taxing. According to the same Airtasker study, a lengthy commute has caused one in four employees to quit a job. Because working at home cuts out your daily commute, you can save time and stop worrying about getting stuck in traffic.
- More family time: Working at home means your family won’t be miles away when you’re at the office. Being just a room away during the day means you’ll have more time to connect with the people you love.
Whatever is driving your decision to sell insurance from home, put it front and center. These benefits will be your guiding light as you transition into your new work environment.
How to Sell Insurance from Home
With the right tools, licensing, information, partners, and resources, you can be running a successful insurance sales business in no time.
Research Your Options
As you consider selling insurance from home, you’ll want to do your homework. Research your options and prepare in advance.
Decide what type of insurance sales appeal to you and what will complement your personal and professional strengths. Focusing on a specialty in the insurance market will help you fine-tune your marketing efforts. To start, consider whether any of these health insurance categories are especially suited to your selling style:
- Individual plans
- Family plans
- Group policies
- Medicare coverage
- Secondary or ancillary insurance
Beyond playing to your strengths, homing in on a specialty can help you stand out as the expert in a niche market. The more focused you are, the looser the competition will be, and the more your earning potential will grow. What’s more, starting with a narrow focus will set you on a firm foundation if you decide to expand your career in the future.
Once you’ve made a decision, it’s time to prepare.
Determine What Background Requirements You'll Need
If you've been selling insurance for some time, the transition to a home office is relatively straightforward. If you're getting your first start in the insurance world, however, an action plan is a must.
Your first step is to determine what education, testing, licensing, and background checks are required. This will depend on which types of insurance you sell and where you are located.
Prelicense education will be required by your state and can usually be completed through online courses that will cover insurance law, ethics, and regulations. It will be necessary to pass the licensing test after your courses are finished in order to start selling insurance.
Before your license is issued, you will have to go through a background check by your state’s department of insurance. This check will include any criminal history and/or pending charges.
Prepare for the Logistics of Selling Insurance from Home
Once you have received your insurance license, it’s time to focus on the equipment and tools you’ll need to be successful. This starts with a well-organized and efficient home office.
Start by building an office space that’s comfortable and professional. Communication with clients and other industry partners is a big part of insurance sales. If you have children or loud pets at home during the day, choose an office space insulated from peripheral noise.
Next, pack your office with every resource available to make your workday run smoothly. Here are some crucial tools to consider:
- High-speed internet: Whether you’re recording a message for clients, looking into customer info, hopping on a video call with a lead, or cold calling a prospect, you’ll want your internet connection to be free of lags or hiccups. High-speed internet access will keep the day running smoothly and interruption-free.
- Mobile hot spots: If you want business to flow, uninterrupted, consider investing in a mobile hot spot. Even if you’re not relying on hot spots all the time, they’ll keep you connected if your home Wi-Fi access drops off.
- Cloud storage: You’ll be surprised by how quickly your digital storage fills up when you sell insurance from your home. Investing in cloud storage is an easy way to save digital space and keep your data safe.
- Videoconferencing apps: Just because you’re working from home doesn’t mean you’ll be working alone. Videoconferencing and messaging apps, such as Zoom and Slack, make it easy to communicate with clients and coworkers.
- To-do apps: To-do apps, such as Asana or Todoist, help you organize daily work tasks. By listing your upcoming tasks and alerting you with notifications, such apps will keep you efficient and clear-eyed.
Organization Is a Must
Organization is key when you are managing multiple carriers, prospects, and clients. Regardless of how paperless you strive to be, you will need an easily accessible file cabinet. Consider a locked file drawer for any sensitive information in adherence with HIPAA privacy and security regulations.
It’s equally important to keep your digital life tidy and efficient. By using customer relationship management (CRM) software, you can keep client data organized and cut down on paperwork. A CRM keeps track of crucial client information, including names, policy renewal dates, pre-existing health conditions, and more.
Want to add a personal touch to your marketing efforts? Many insurance professionals get a leg up on the competition by taking a few minutes to record personal messages for clients. Dedicate a corner of your office space to video messaging. By simply removing distracting items in a well-lit corner, you’ll have a makeshift studio and a whole new way to connect with clients.
Simplify Processes with Software and Technology
To fully take advantage of technology that can make selling insurance from home easier than ever before, consider the following:
- Your computer should be updated and capable of meeting all of your professional online needs.
- Design an attractive, consumer-friendly insurance website with informative and current content that can drive traffic to your site.
- Use social media and networking sites to build your brand. Your online reputation can direct prospects back to your insurance website, generating leads and, ultimately, resulting in sales.
- Automate as much as possible.
Adopting the right technology can set your business apart from your competitors. With innovative CRM software, for example, you can generate and manage leads, communicate with prospects and clients, provide multi-carrier information, give real-time quotes, deliver proposals, and assist clients with online enrollment services, all in one comprehensive system.
CRM software also adds a crucial element to selling insurance from home: automation. Rather than relying on spreadsheets to input data, consider using an advanced CRM that does the work for you. For instance, some software will send reminders about unfinished tasks or remind you to reach out to a lead. Such software also makes it possible to pull customer information directly from databases and add them to emails. Whenever you add automation, it lowers the likelihood of human error and increases your efficiency.
Software for running quotes and delivering proposals will help you get invaluable information to prospective consumers and establish you as a reputable source of insurance products and services.
Learn More About Quotit's Complete Insurance System
Quotit offers insurance management programs that bundle these services, streamlining your processes and allowing you to focus on what really counts. Learn more about Quotit's various products here.
Start Generating Leads
Success in insurance sales depends on obtaining quality insurance leads. The good news is that there are many ways to generate leads. Use all of the strategies at your disposal to garner attention for your agency, including:
Direct marketing can help you connect with prospects. For example, consider sending personal letters introducing yourself and your commitment to helping consumers find the insurance that meets their specific needs and preferences.
Hosting events, public seminars, and information sessions can help you reach a wider audience. It also gets you out of the house—a common concern for many who work from home.
Build a Strong Online Presence
- Create original, current content on a robust website.
- Host webinars and videos regularly.
- Update your social media profiles frequently with relevant information.
Forge Local Partnerships
Partnerships within the insurance arena can create unique marketing opportunities with shared benefits for both parties. For instance, if you’re selling individual health insurance plans, it only makes sense to team up with local hospitals to host events. Specialize in family insurance? Join forces with area pediatric centers. By teaming up with business owners, you’ll be exposed to a whole new pool of clients and have an extra wing of support.
Use Qualified Leads
Consider purchasing qualified leads and follow through in a timely manner. This can provide your business with a steady stream of prospects whom you would've likely never discovered.
Working Alone? Stay Connected
The up-front investments you make can result in a more successful insurance sales business, but working from home can be challenging even in the best of circumstances. Don’t allow yourself to be isolated, even if you are working alone. Get involved in industry events, continue your education with seminars and conventions, and keep networking with other insurance professionals.
Talk to everyone in your social and professional circle to explore opportunities for growing your business.
Don’t Underestimate the Importance of Referrals
Referral marketing tips can help you recognize opportunities and inspire you to build your clientele. Consider the following:
- Talk to friends and family. Let them know exactly what your business is all about. If they don’t have any current insurance needs, they may have friends who do. Ask friends and family members for a few names of people you could reach out to.
- Build relationships with local professionals who might have access to prospective clients.
- Stay in touch with prospects and clients. Continue to express your commitment to the overall cause—helping people find the high-quality, affordable insurance coverage they deserve. Keep clients up to date on the ways they can reach you to learn more about your products and services.
- Recognize that referrals can come from the most unexpected conversations and circumstances. Be prepared with business cards on hand at all times.
If you have wondered how to sell insurance from home and find success as a licensed sales agent, you can rest easy, knowing that there are resources available to help guide you along the way. There are many benefits to selling insurance from home—understanding the requirements and recommendations can put you on the path to a successful insurance business.