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How Hard To Be Health Insurance Broker in Rockford, IL?

by | Jan 13, 2020 | Blog, Health Insurance Broker in Rockford IL

Insurance brokers are trained professionals in insurance and risk management solutions who help individuals and businesses find insurance policies that best meet the needs of their customers. They may focus on a single type of insurance, or work with many different types, such as home, life, or health insurance. Whatever type of insurance they sell to clients, health insurance broker in Rockford IL need to be well-versed and articulate to explain complex insurance terms. Brokers must be licensed in specific insurance areas before they’re permitted to sell policies. Most earn 4-year degrees.

Step 1: Earn a Bachelor’s Degree

Although it isn’t required, a bachelor’s degree on your resume could increase your chances of gaining employment with an insurance brokerage firm. Degree programs in business administration or economics provide you with the necessary background in finance, accounting, business law and marketing. Other potentially helpful courses include psychology, sociology, public speaking and communications.

You could also consider earning a bachelor’s degree in insurance and risk management. These aren’t as widely available as business administration or economics programs. In addition to developing fundamental business skills, they devote whole courses to explaining the principles and concepts underlying life, health and property insurance.

Step 2: Add an Internship to Your Insurance Broker Training

Some bachelor’s degree programs in insurance and risk management provide internship opportunities with health insurance broker in Rockford IL. During an internship, you’ll observe and participate in the internal operations of the firm. After it ends, you may have to submit a written report describing the experience while the employer provides a written evaluation to your instructor. If an internship isn’t available at your school, you could also try to arrange your own.

Step 3: Obtain an Insurance Broker License

You need a broker’s license from each state in which you plan to work. Licenses are available for life, personal, property and casualty insurance. Broker’s licenses and agent’s licenses are different, although as a broker, you can still hold an agent’s license and work for companies as an agent. Some states are moving away from the two types of licenses and requiring both agents and brokers to obtain a producer’s license. Producer is an health insurance broker in Rockford, IL term for both agents and brokers.

Step 4: Find a Job

At a firm for health insurance broker in Rockford, IL, you can expect to start out either at the customer service desk or as a broker’s assistant. As you gain familiarity with the industry and your employer’s business practices, you can become a customer service rep (processes insurance transactions under supervision), personal lines rep (provides detailed coverage for personal belongings and homes) and commercial line rep (commercial and business insurance). If you demonstrate initiative, competence and leadership, positions as a department supervisor, producer or manager of a branch office could open up.

Step 5: Obtain Insurance Broker Certification

For professional development and career advancement, consider certification in an area of insurance where you’ve acquired expertise. The National Alliance for Insurance Education and Research offers a number of voluntary certifications for independent agents or brokers. These include the Certified Insurance Counselor (CIC), the Certified Insurance Service Representative (CISR) and the Certified Risk Manager (CRM). Those interested in the health industry can pursue a Health Insurance Association (HIA) certificate from America’s Health Insurance Plans (AHIP).

Human Resources & Benefits Consultant in Rockford, IL

2HB Human Resources & Benefits Solutions is a full-service human resource outsourcing company dedicated to providing customized HR solutions to our clients. We specialize in providing clients with the resources to help them better manage their HR function.

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