Why join the Insurance Industry in Sales?
This is a question that seems to be a recurring theme in all conversations when it comes to choosing an organization to work for in Sales. Why join the Insurance Industry in Sales?
I thought that it’s time to put things in perspective on this front.
I have come across so many talented people who do not want to take the plunge into Insurance Sales. In my experience, I have heard a variety of reasons for not choosing Insurance Sales ranging from family pressure about becoming an “agent” to wanting to do a “respectable” job. The reasons are as wrong as they can get. It is easily possible to spend a lot of time delving into and debunking the myths surrounding Insurance, but this post is not about that. This post is to talk about the reasons to join the Insurance Industry.
You may all heard about the spiel about Insurance being a sunrise industry and so on and so forth. Well, we are not going to go in that direction. Fact of the matter is, Insurance is one of the oldest industries in the world. It has withstood the test of time and walked through the great depression and multiple market crashes. At the end of it all, it still stands and does so boldly. In India, insurance was the sole domain of the PSU Insurers for many decades. This created a certain image of Insurance and its employees in the mind of the public. Even though the private sector has existed for more than 15 years now, and while it has been able to remove that image of the sector, it has managed to create a monster of its own: Mis-selling. The elephant in the room which no one wants to acknowledge. For the crimes of a few, the many suffer. For every story of mis-selling that I am told, I can share 5 of honesty and integrity. But, alas, the customer who is offended speaks much more and much louder than the one who has a good experience.
But, that is not the only reason why the insurance industry is maligned. There are horror stories aplenty in terms of how the industry has intense and sustained performance pressure. It is true. There is tremendous pressure on performance on every sales person in Insurance. I am yet to come across a sales person from any industry that is not under pressure. Actually, I am yet to come across any professional who is not under pressure to achieve his/her set goals, irrespective of function. Having had spent a few years in sales myself (that too in insurance for some time), I am clear in my mind that the pressure of performance is no more or less than in any other profession. In fact, the interesting part is that it’s the Sales role where the achievements are far more visible and celebrated. So, if you survive the pressure and are able to perform, you will get recognition and rewards for a job well done. Isn’t that exactly what all of us want to achieve in our careers – To perform and be rewarded/ recognized for it?
Sales is a critical component for insurance. Just like there is intense pressure, insurance sales also has instant recognition. People who succeed are immediately recognized and given rewards for performance. The sales incentives apart, performers are rewarded with gifts, prizes, travels abroad, apart from being recognized and awarded in sales conferences. Not to mention the possibility of rapid growth. People who survive the initial pressure, grow quickly and systematically within the organization. Pressure is a good thing. Coal doesn’t become diamond without pressure.
I’d like to end this piece with a small tip – Insurance Sales is one of the most rewarding careers that one can have, if a person is of strong mettle. Focus, dedication and hard work will ensure success in every field, but not everyone will reward or recognize you the way insurance will.
Author: Sumit Mukherjee
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