Free Essays

Insurance companies

Many insurance companies have surface during this days espousing the aim for providing social benefits for ordinary citizens. Several divisions include providing health insurance, accidental insurance, group insurance, life insurance, disability insurance and many others. Insurance agents are tasked to sell insurance to prospective clients. They are usually trained to have a degree of eloquence, good interpersonal skills and sales ability in order to influence their clients.

By providing their insurance premiums such as low payment, loans with low percent interest rate, high turnover and different privileges, many also grab the opportunity promised by these insurance companies. Apparently, insurance agents are likened to marketing agents, with respect to remuneration, both cannot earn huge sum without any client being convinced into jumping off to the company’s offers. Field agents often have the higher risk than those telemarketers.

Field agents spend most of their time outside the office meeting for new clients presenting them the company’s premiums and their edge over other insurance companies. During the course of their work, they may encounter job-related risks such as some clients are hostile to insurance companies or they have negative impressions on insurance companies as a whole. This simple way of refusal may have a negative impact or leveling down the morale of an insurance agent.

Furthermore, they are exposed to higher stress risk, since they aimed on meeting the company’s quota; insurance agents are highly persistent on bringing even just one client into the company for a week. This endeavor entails for a tough work such as meeting the convenient time of the client and that by mean if the client free hours is not later than 9 pm, the insurance agent shall grab the opportunity of providing all the necessary data the client needs. This is one way of showing how the agent guarantees the service of his company. It is a purposive scheme.

Consequently, insurance agent exposed on such occasion shall suffer health related problems because after the long weary discussion to his clients he must prepare his report to his company and if further follow up is needed for his prospective client he is obliged to prepare the best dialogue implying for a long night hard work. Another factor is the compensation matter. It is inherent to everyone the desire for colleting huge sum out of their hardship on work. Insurance agents relied much on quota or the specified amount drafted by the company policy to be met to collect their compensation.

There is a however standard compensation for everyone who do not yet have any client convinced but this certain amount is insufficient in comparison for the hard work of the insurance agent. Telemarketers or insurance agents working inside the office have the same nature of work to that of the field agents. Unlike field agents, some telemarketers have to work for grave shifts in order to meet the customers demand. International Insurance companies employed individuals willing to work for them on grave hours with high remuneration and double pay. This will definitely put the agents’ health on stake.

Regardless of the consequences, these agents are well-informed of their job responsibilities and the expectations of the company to them. However, some agents seem to undermine the challenges in marketing several insurance benefits. This becomes the results of withdrawing on the job so early. Legitimate insurance companies provide training to newly hire insurance agents. Within the training period, the company often presents the compensation pack to motivate their employees and attach to achieving that huge sum is the dedication to work and understanding fully the consequences they must bear.

These days insurance companies are equated to ‘money-making’ business and agents seeking their way to insurance companies have internalized this dictum, since insurance companies are considered highly risky for competitions always at the corner, it is therefore equitably acceptable and reasonable that insurance agents must have toiled this much to earn for the price. For a single client who agrees to adhere the company policy means a big shot for the agent.

Fair though, it is important that a company must weigh the substantial amount they will be giving to the agent into bringing a client for a close deal; enough risk for that price for winning. The management is somehow sensitive on the needs and importance of their agents by providing them the common benefits being obtain by other private employed individuals and addressing issues that affects their relationship on agents. One way of addressing it increasing the amount to be granted to them and certain benefits will ensure that they will be compensated well.

Equitable arrangement is usually done through providing huge remuneration and promotion (as it is the right of every permanently employed) to boost morale and productivity of agents.

WORKS CITED:

Occupational Outlook Handbook, 2008-09 Edition. Bureau of Labor Statistics. United States Department of Labor. 18 Dec. 2007. http://www. bls. gov/oco/ocos118. htm. 29 Jan. 2009. Messick, Wayne. Successful Farm Insurance Agents Know That Understanding Their Clients is the Key. Ezine Articles. 2008. http://ezinearticles. com/? expert=Wayne_Messick. 29 Jan. 2009