Becoming An Insurance Recruiter: A Step-By-Step Guide

Recruiting the right people for your team is crucial for any business, and insurance recruiters play a vital role in this process. They are specialised talent acquisition experts who understand the ever-changing landscape of the insurance industry, including its regulatory requirements and the specific skills needed for success in various insurance lines.

To become an insurance recruiter, you will need a strong understanding of the industry, excellent networking skills, and the ability to identify top talent. A bachelor's degree is often preferred, and prior experience in insurance hiring is advantageous. Effective communication, interviewing, and interpersonal skills are also essential, as recruiters need to build relationships and promote collaboration throughout the recruitment journey.

Insurance recruiters offer a strategic advantage to companies by saving them time and providing valuable insights into the talent pool. They help organisations build high-performing insurance teams by fostering genuine connections and ensuring strong alignments between candidates and company objectives.

Develop an ideal candidate profile

Developing an ideal candidate profile is a crucial step in the recruitment process, as it helps to identify the qualities and skills that the perfect candidate should possess. When creating an ideal candidate profile for an insurance recruiter, there are several key areas to consider.

Firstly, it is important to outline the specific insurance industry knowledge and experience required for the role. This includes understanding the different types of insurance products, such as health, property, disability, casualty, or long-term care insurance. The ideal candidate should have a strong understanding of insurance concepts, regulations, and state insurance laws. They should also be familiar with the insurance licensing process, as it is a key requirement for insurance recruiters to hold the necessary licenses for the types of insurance they recruit for.

In addition to industry knowledge, the ideal candidate should possess strong recruiting skills. This includes the ability to source, screen, and identify top talent. The recruiter should be able to review resumes effectively, assess candidates' skills and experience, and make informed decisions about their suitability for the role. Strong networking skills are also essential, as insurance recruiters need to build relationships and identify up-and-coming talent within the industry.

Communication and interpersonal skills are another key aspect of the ideal candidate profile. Insurance recruiters need to be able to communicate effectively with both clients and candidates. They should have excellent listening skills, be able to build rapport, and have a friendly and professional demeanour. Additionally, strong written communication skills are important for creating clear and engaging job descriptions and correspondence with candidates.

The ideal candidate should also possess organisational and time management skills. They should be able to manage the recruitment process efficiently, from creating job postings to scheduling interviews and facilitating salary discussions. Attention to detail is also crucial, as insurance recruiters need to ensure all employment offers and denials are communicated accurately and in a timely manner.

When developing the ideal candidate profile, it is also beneficial to consider any additional qualities that would enhance the candidate's performance in the role. For example, a strong work ethic, problem-solving abilities, and a passion for the insurance industry can set candidates apart.

By outlining these skills, qualities, and areas of expertise, you can create a comprehensive ideal candidate profile that will guide your recruitment efforts and help you identify the perfect insurance recruiter for your organisation.

Diversify applicant sources

Diversifying your sources for applicants is a crucial step in creating a robust and inclusive talent pool. Here are some strategies to achieve that:

• Identify diverse sourcing channels: Go beyond the usual job boards and platforms. Explore local or regional job boards, professional groups or associations catering to diverse candidates, and social media groups that cater to underrepresented communities. By diversifying your sourcing channels, you will reach a broader range of candidates.
• Target sources where diverse candidates congregate: Seek out online and offline groups dedicated to specific demographics, such as women in technology. By directly engaging with these groups, you can connect with high-calibre candidates who might not otherwise find you through traditional platforms.
• Encourage employee referrals: Your current employees can be a valuable source of diverse talent. Encourage your team members to refer their connections, especially if they come from similar backgrounds. This approach not only helps to boost your diversity recruitment efforts but also showcases your company's commitment to valuing different backgrounds and ideas.
• Offer internships and entry-level positions to targeted groups: Reach out to schools, universities, and community groups to offer internships, co-op positions, or entry-level jobs to candidates from diverse backgrounds. By doing so, you provide opportunities to up-and-coming talent who might not otherwise have access to these roles.
• Leverage professional recruiting services: Consider using the services of a professional recruiting agency specialising in insurance, such as The Jacobson Group. They have extensive industry knowledge and a vast network, enabling them to identify and attract high-quality, diverse talent.
• Think beyond insurance: Some of the best candidates might not have insurance-selling experience or might be working in different industries. Look for transferable skills in fields such as retail or financial services. You can guide these candidates towards obtaining the necessary licensing while they gain on-the-job experience.

Offer the right benefits

Offering the right benefits is a crucial aspect of attracting top talent and ensuring employee satisfaction in any industry. When it comes to becoming an insurance recruiter, understanding and providing competitive benefits is essential. Here are some detailed instructions and considerations for offering the right benefits in the insurance industry:

• Understand the Industry: The insurance industry is unique, with specific challenges and requirements. Licensing requirements, commission-based pay structures, and the demand for specialized knowledge vary across different insurance sectors. Understanding these nuances will help you tailor your benefit offerings effectively.
• Competitive Salaries: Insurance agents, whether captive or independent, often have high earning potential. Offering competitive salaries is essential to attracting top talent. According to Indeed.com, the average salary for insurance agents is $79,938 per year, with salaries ranging from $18,000 to $186,000.
• Benefits and Incentives: In addition to salaries, insurance agents value benefits such as health insurance and opportunities for growth within the company. Offering unlicensed candidates a bonus to retroactively pay for insurance licensing can be an attractive incentive. This not only helps candidates but also ensures your agency's compliance with licensing requirements.
• Flexibility: Providing flexible work schedules can be a significant benefit for insurance agents, especially those who work full-time and spend additional hours outside of business hours preparing presentations and handling paperwork. Striking a balance between work and personal life can boost employee satisfaction and productivity.
• Streamlined Hiring Process: A streamlined and efficient hiring process benefits both recruiters and candidates. Pre-screening candidates, including asking about licensing and relevant experience, saves time and ensures that only qualified individuals progress to the interview stage.
• Passive Recruiting: Many licensed insurance professionals are not actively looking for new opportunities but are open to exploring them. Building and maintaining a strong professional network is essential for passive recruiting. Stay connected with potential candidates even when you don't have immediate openings.
• Diversify Applicant Sources: Don't rely solely on job boards. Utilize your company's careers page, referrals from current employees and clients, and custom sources like industry-specific or local college job boards. Get creative with your outreach, such as using social media to promote job openings.
• Highlight Growth Opportunities: One of the most sought-after benefits across industries is the potential for growth within a company. Showcase the path for advancement and highlight any employee development initiatives or training programs your agency offers. This is especially appealing to recent college graduates or those new to the insurance industry.
• Tailor Benefits to Candidates: Understanding the specific goals and challenges of your ideal candidates is crucial. Create a clear profile of the ideal candidate, including their qualifications, experience, and soft skills. This will help you tailor your benefit offerings to their needs and increase the likelihood of a successful match.

Prequalify candidates

Prequalifying candidates is an important step in the recruitment process, helping you to focus on the most promising applicants and make efficient use of your time. Here are some tips for prequalifying candidates when recruiting for an insurance role:

Review Applications and Resumes

Pay close attention to the resumes and application forms submitted by candidates. Look out for spelling and grammar mistakes, as well as incorrect sentence structure and poor punctuation. In today's age of word processing tools, this could indicate poor communication skills or a lack of care. Also, check for inconsistencies in job titles and listed tasks, and confirm that the companies listed are legitimate and match the candidate's stated role.

Confirm Qualifications and Experience

Verify the legitimacy of the educational institutions listed on resumes. Check that the companies the candidate has worked for were operational during the stated periods. Look beyond the job titles and review the specific tasks and responsibilities outlined for each role. This will give you a clearer understanding of the candidate's actual experience and skills.

Create a Prequalification Questionnaire

Develop a list of screening questions to send to candidates via email. This will help you determine if they meet the job requirements and are a good fit logistically. Include questions about compensation expectations, years of experience in the industry, and any travel restrictions or preferences that may be relevant to the position.

Gauge Their Interest and Motivation

Pay attention to any cover letters or equivalent documents provided by the candidate. Do they seem genuinely interested in the insurance field and your company specifically? Do they mention your company's mission and goals, and how they align with their own? A candidate who is truly passionate about the role and your organization is more likely to be a good fit.

Consult Your Network

While candidate-provided references can be useful, they may not always give the full picture. Consult with trusted members of your professional network to get a second opinion on the candidate. See if anyone in your network has worked with the candidate in the past and can provide insights into their work ethic, skills, and suitability for the insurance role.

Check for Fraudulent Applications

It is not uncommon for fraudulent applications to slip through. Be vigilant and assess resumes and applications for any signs of fraud. Confirm the existence of the companies listed and cross-reference the information provided with online sources.

By following these steps, you can effectively prequalify candidates for an insurance recruiter role, saving time and increasing your chances of finding the right person for the job.

Understand the state of the industry

The insurance industry is constantly evolving, demanding specific skills and regulatory knowledge. It is a growing industry, with insurance agents in high demand, and recruiting them can be challenging. The pandemic has also impacted the ability of insurance employers to make all the necessary hires, with the majority (69%) of insurance professionals experiencing the same or greater workload. This has resulted in a steady demand for agents but a fluctuating volume of available candidates, making hiring challenging for employers.

The insurance industry has unique hiring challenges. Each state and insurance type has its own licensing requirements, and independent insurance agents are largely commissioned positions. Most viable candidates cannot be recruited using the same tactics as unlicensed or less-specialized workers. As a result, it is important to understand the specific requirements and challenges of the insurance industry when recruiting.

The best time to hire insurance agents is in January and February, which see the highest percentage of applicants. Applicant volume dips in April and May but stabilizes from June onwards. November and December also bring more applicants than average.

To attract the best candidates, it is important to offer competitive benefits and growth opportunities. A competitive salary, health insurance, and base pay can attract a better candidate pool. Additionally, offering a bonus to unlicensed candidates to retroactively pay for insurance licensing can be an attractive incentive.

Understanding the state of the industry is crucial when becoming an insurance recruiter. By recognizing the challenges, demands, and trends in the insurance industry, recruiters can develop effective strategies to source and attract top talent.

Frequently asked questions