However, we estimate that 90 to 95% of agents resign within the first 12 months after receiving their license. In this business, no one fires you. Therefore, I think it's inaccurate to say that 93% of agents fail. What I'm going to say is that within three years, 93% of agents choose to quit smoking. They abandon themselves, they abandon their dreams and goals because of a lack of clarity and emotional connection with their goals.
Sixty-six percent of insurance agents are over 40 years old. Zippa, 202 Thirty percent of new agents leave in their first 90 days. The vast majority of new insurance agents fail or resign. While it's difficult to determine exactly what percentage of insurance agents are unsuccessful in the industry, most of those who don't succeed succumb to common mistakes that can be avoided with diligence, patience, and hard work.
The truth is that there is a higher turnover rate in the sale of insurance than in almost any other job category. A mass exodus in which nearly 90% of new agents resign in their first three years. These agents didn't set out to fail, but they all made similar mistakes. With strong and growing demand, earning potential, and a variety of specialization options, selling insurance is an attractive career option. I don't want to put words in this person's mouth, but a lot of agents are recruited into the insurance business by someone they know.
Let me tell you a quick story: my family and I have been training and training new agents and advisors to help families find the money to buy insurance for more than 40 years. I imagine that this is probably a problem, not only in the insurance business, but in all companies, in all entrepreneurs. Today we'll address this topic and give you some foolproof things you shouldn't do as an independent insurance agent that will set you up for success. Check it out, because it contains detailed insurance marketing strategies to capture potential customers, plus many hours of video training for agents. When your agents see that you attach importance to their current projects and daily tasks, providing them with the tools they need to succeed, they will feel valued and will do more.
When you give your insurance agents access to the data that supports their commissions, they can connect the dots more easily and understand how their efforts impact their revenue. We've compiled a list of the key insurance agent statistics for 2024 to give you a complete picture of opportunities in the industry. Many insurance agencies go a step further by offering their insurance agents more advanced “toolboxes” to help them do their jobs better. The third reason new insurance agents quit is because they'll end up with a lot of expired policies and no contracts.
Most agents define “difficult times” as those periods when no one wants to buy, no one is interested, you've made 10 appointments and no one has bought, and you're about to lose your mind. Agents who provide the right solutions to customers build trust and that helps them build a portfolio of loyal customers. Laws and regulations change frequently in different states, and it's vital that agents know what those changes mean for their clients. If you're ready to start your career in the insurance industry and get your license, Kaplan's insurance certification study packages can help you succeed.
There are very few independent marketing organizations where 90% of their new insurance agents don't quit in their first 5 years.
