I’m swamped this week with webinars, conference calls, article deadlines, and learning how to use an Ebow to play the Hollywood Vampires version of David Bowie’s song Heroes for The Spyders‘ Friday night gig. So this week’s blog post I’m borrowing from Chris Burand….
This is reprinted from Chris Burand’s September 2019 newsletter. Here’s an excerpt and a link to the full ITL article:
Why should a consumer pay the same price for an amateur agent as they pay a professional agent? In fact, why should a consumer pay an amateur agent anything?
A professional agent, a truly professional agent, is someone who puts in the hours to learn and know the coverages in depth. A professional agent is someone who takes the time to work with clients to identify their needs, and actually does this every year for every renewal. At the very least, the agent makes a genuine effort to meet with clients at least annually to go over their needs, changes in coverages, changes in exposures and changes in their lives and businesses.
Professional agents do not just “BOP” every account. They actually understand what coverages in a BOP need enhancement to provide their clients with the coverages they truly need. An excellent example of an amateur agent is when a producer tells a client that he has automatic cyber coverage in the BOP. At best, such an agent might qualify for flag football.
Is this a harsh statement? Not really, because it is reality, and that agent can change reality by actually practicing and preparing and learning the coverages. These situations are fantastic examples of people being in charge of their own destinies. They can be a pedantic peddler of insurance, be lazy really, or they can endeavor to practice, to study, to prepare and to become a true professional who serves a vital purpose and protects their clients’ true well-being. The choice is completely yours, but the idea of actually being a professional while hardly ever practicing and preparing is dead. No more pretending.
http://insurancethoughtleadership.com/becoming-a-true-professional-agent/
Bill Wilson
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All Agents are Mercenaries it is just that some agents are more mercenary than others there is no such thing as a professional agent there is no such thing as professional in the insurance business insurance business is service industry it does not meet the requirements of a professional unlike a CPA or medical doctor or even a dentist
Mr. Ford – Might I ask what it is you do for a living?
I go around and show emplyers how to fund and pool insurance risk in ways that benefit them. This includes all facets of insurance and emplyee benefit structure and funding. The goal is to inbcrease coverage and benefit provided while reducing cost . This includes alternative risk, self funding and purchase of traditional insurance.
Insurance is a trade not a profession. Good practitioners are craftsmen not professionals.
Of course insurance is a profession, by any definition. There are measurable standards an individual must meet prior to being “licensed” by the state regulatory authority, and the industry has standards (ethical, regulatory and otherwise) to which the practitioner must adhere. There is a unique language, or jargon, that must be learned and the industry has associations and advanced certifications to support professional development.