Becoming an insurance trainee requires sales experience or education in business, finance or economics. Trainees work with experienced agents for a specified period and must eventually be licensed to work independently. Communication skills, problem-solving abilities, and independence are important traits for success in the field.
The path for someone to become an insurance trainee is quite simple. Even so, insurance companies maintain high legal standards and therefore want their interns to be well educated and experienced. The exact education and experience someone needs to take for insurance will vary quite a bit based on the insurance the person wants to manage.
It is possible to enter the insurance field with just a high school diploma. To do this, a person must have sales experience, however. Courses in mathematics, marketing, economics, business law, finance and information technology pave the way for someone to start a career in the insurance industry. Psychology, public speaking, and sociology courses are also useful because they help an insurance intern better understand a person’s motivations for purchasing or rejecting insurance.
Although one can become an insurance trainee with just a high school diploma, employers often give preference to those with a college degree. Specifically, employers want insurance interns to have a background in business, finance or economics.
Once a person has the appropriate sales experience or education, the next step for someone to become an insurance intern is to look for an insurance agency that is hiring new recruits. The interested individual must contact the company and express their interest in becoming a trainee, which sometimes means contacting the company’s recruiting office or trainee program center. If a position is available and the individual is qualified, the insurance company offers him a trainee position. This position can be paid, but sometimes it is an unpaid internship.
With a secure trainee position, an insurance trainee accompanies an experienced agent for a specified period. How long this period lasts depends on company policies, which are governed by standards for insurance agents set by each state, and how quickly the apprentice is able to learn.
No matter which company a person becomes an insurance intern, eventually interns need to be licensed to work in insurance independently. So, part of becoming a trainee and moving to full insurance agent status is taking specific courses in the basics of insurance and insurance law. Many interns take these courses while working under the guidance of a licensed agent. Courses and licensing requirements vary based on the type of insurance the intern wants to pursue. For example, separate licenses are required for life and health versus property and casualty insurance, and interns have to take different tests for working with general financial securities versus mutual funds and variable annuities.
Not everyone is suited to become an insurance trainee. Those who are best for the job include those who can solve problems, as well as those who are friendly, confident, and hardworking. Communication skills must be excellent because the way an agent communicates with clients can drive clients away from a sale. Insurance agents end up working with minimal supervision, so trainees feel comfortable managing their own resources and time, prioritizing well and taking initiative when needed. People who demonstrate these traits, in addition to the desired education and experience, receive the most serious consideration when interviewed.
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