By Bruce Rabik
As an insurance professional with over forty years experience in the Canadian insurance business, I recognize the importance of mentoring future leaders within the industry. In this article, I will share my top five tips for anyone just starting out in the insurance field.
Tip 1: Look Out for Consistent Change
The industry is always evolving and changing. As an insurance professional you need to be prepared for this, and be ready to act accordingly. Examples of changes that can affect the insurance industry are mergers and consolidations, Insurtech or regulatory changes, inflation, and even fluctuations in financial markets. Remember to keep ahead of these trends by going to conferences, speaking events, reading the trade publications, and relying on your network for information too.
Tip 2: Deepen Your Relationships with Clients and Colleagues
Strong relationships with both colleagues and clients is key to success in the insurance field. Developing trust is very important when providing a product to a client, as the insurance field is intricately connected to a person’s life and livelihood. Showing a genuine interest in your client and being personable is a great asset to your practice as an insurance professional. As I always like to say: “People First, Profits Second”.
Tip 3: Keep Learning!
Being a lifelong learner is another excellent skill for anyone entering the insurance field. There are a variety of courses provided by accreditation bodies to help you grow and evolve in your practice in the industry. Websites such as CE Corner can assist you with this, as they feature courses on topics such as ethics, professional knowledge, and practice management. Taking part in conferences and symposiums is also another great way to boost your knowledge of and within the insurance field.
Tip 4: Community Involvement
Being involved in the local community through charities, youth sports team sponsorships, and fundraisers is an excellent way to build your brand and be personable with your clients. Acera Insurance has actually supported over fifty charity initiatives across Canada. We even introduced a program for our employee clients in which four employees every year are granted 10,000 dollars to embark on a dream or ambition they have had.
Tip 5: Prioritize Professional Ethics
Maintaining high ethical standards is crucial in the insurance industry. It builds trust with clients, colleagues, and regulatory bodies. Upholding integrity in all your professional dealings ensures that you not only comply with legal standards but also earn the respect and loyalty of your clients. Always act in the best interest of your clients and provide transparent, honest advice. This commitment to ethics will differentiate you from others and establish a solid foundation for a successful career.
Tip 6: Embrace Technology
Technology plays a significant role in the insurance industry. Familiarize yourself with the latest tools and platforms that can streamline your work processes and improve client interactions. Technologies like customer relationship management (CRM) systems, data analytics, and Insurtech innovations can enhance your efficiency and provide better insights into client needs. Staying updated with technological advancements will help you stay competitive and deliver superior service to your clients.
