1.10 Marketing and Sales Practices
There are certain standards and ethical behavior expected of those who are licensed to conduct insurance business. There are two approaches to be considered: (1) Selling to needs and (2) suitability of recommended products.
Agents not only look out for the bottom line, they work to make sure the client gets his money's worth. Professional insurance agents provide the expertise needed to make the right choices. They are experts who are familiar with the following issues.
- The Current Market - Knowing the best products from the merely adequate
- The Law - State and federal regulations
- The Insurance Industry - By completing continuing education courses
The competent insurance agent should be able to help the consumer:
- review his/her individual and unique needs;
- learn about carriers and products that can satisfy the customer's specific concerns;
- ease the burden on the customer's time by doing the legwork; and
- get the most from the coverage after the client has purchased the right product.
Remember that agents must secure company approval prior to the use of any advertisement that is not furnished by the insurer.
