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Working for an insurance company as a sales agent can offer an exciting and rewarding experience. Not only does it come with many perks and benefits, but it also enables you to make an impact in people’s lives.
If you are searching for the best insurance companies to work for as an agent, continue reading our guide. In this article, we will discuss what an insurance company is and what insurance sales agents do for them. We will also list down the best insurance companies to work for to help you prepare for your insurance sales career.
What is an Insurance Company?
An insurance company is a financial institution that provides insurance products and services to individuals, businesses, and other entities in exchange for premiums or payments. An insurance company is also sometimes called an insurance firm, insurance carrier, or insurer.
The primary purpose of insurance companies is to help individuals and organizations manage their assets—including life, health, wealth, and material possessions. They offer financial protection and compensation to their clients in the event of losses, accidents, hospitalizations, and death. The most common types of insurance products that insurance companies sell include:
- Auto insurance
- Health insurance
- Life insurance
- Homeowners Insurance
- Renters Insurance
- Business Insurance
- Travel Insurance
- Disability Insurance
- Pet Insurance
- Long-Term Care Insurance
To sell their products and services, insurance companies employ full-time and part-time sales agents. These agents represent the company and are responsible for prospect outreach, product presentation, policy customization, and closing sales. However, not everyone interested in getting an insurance policy is eligible. Insurance companies still have to assess the potential risks that individuals or businesses face and calculate the likelihood of these risks occurring.
When a policy is approved and successfully issued to a client, sales agents get a certain percentage of commission from the company as an incentive for their performance and a motivation to sell more policies. The specifics of how commissions and rewards work can vary depending on the insurance company, the type of insurance being sold,
Primary Roles and Responsibilities of an Insurance Sales Agent
If you are new to insurance sales and you want to prove yourself to the best insurance companies out there, it is important to be familiar with what insurance sales agents do. Below is a summary of the roles and responsibilities of an insurance sales agent.
- Find prospects and reach out to potential buyers.
- Meet with potential clients to understand their insurance needs and assess their risk profiles.
- Based on your understanding of the client’s needs, recommend specific insurance policies or coverage options.
- Explain the details of the policy, including coverage limits, deductibles, and premiums.
- Clarify policy terms and conditions and answer any questions that the client may have.
- Provide clients with insurance quotes that detail the cost of coverage based on the chosen policy, coverage limits, and other relevant factors.
- Assist clients in completing insurance applications by submitting required paperwork and documents to the insurance company for underwriting.
- Work closely with underwriters to answer questions or provide additional information about your clients and their policies.
- Once a policy is approved, issue the insurance policy to your client and ensure that they understand the coverage and payment terms.
- Collect premium payments from clients and ensure that payments are made on time to maintain coverage.
- Build and maintain long-term relationships with your clients by providing ongoing customer support, assisting with policy changes, and addressing any inquiries or concerns they may have.
- Review your clients’ policies periodically to assess if any changes or updates are needed.
- Adhere to industry regulations and ethical standards when selling insurance products.
- Finally, stay informed about industry trends and new insurance products offered in the market to better serve your clients.
To be a successful insurance sales agent, you have to have strong interpersonal and communication skills, as well as a deep understanding of insurance products, services, and regulations. Furthermore, it is important to build trust with clients and provide them with tailored insurance solutions relevant to their needs and situations.
Why You Should Consider Working in an Insurance Company as a Sales Agent
If you are not sure whether insurance sales is the best career path for you, here are some reasons that might just help you decide. Below is a list of the advantages of working as a sales agent in one of the best insurance companies in the US.
Lucrative Salary
Let’s face it. Salary plays a big role for employees, in general, when deciding which job or position to take. As an insurance sales agent, you can have amazing compensation structure and great earning potential. This is because, aside from your base salary, you also get commissions and bonuses. The more policies you sell, the higher your potential income, which can be particularly rewarding if you excel at sales.
Job Stability
If you are looking for a stable job that will last for many years to come, working as a sales agent for an insurance company is a good option. Insurance is a necessity for individuals and businesses, so there is a constant demand for insurance products. This can provide you with job stability and security if you work as a sales agent.
Work From Home
An insurance sales job does not require the sales agent to work in the office full-time. Instead, they are encouraged to go out and meet with prospective buyers and customers. If you feel like you would be more productive working from home or remotely, then being an insurance sales agent may be an ideal job for you.
Flexible Work Setup
Aside from remote work arrangements, an insurance sales job is also flexible and does not require strict work hours. As long as you can deliver your sales quota or meet the monthly target, you are free to work on your own hours—whether during the weekends, holidays, early in the morning, or late at night!
Education
Many insurance companies do not require a college degree for their sales agents. This makes it easy for aspiring sales reps to apply to the best insurance companies and land a sales job. So if you didn’t finish college but want a stable, rewarding job, start applying to the best insurance sales companies to work for and land the job of your dreams.
Professional Growth and Development
There is a lot of room for growth working in an insurance company. In fact, the best insurance companies to work for offer opportunities and programs for career advancement. You can move up the ranks to become a senior agent, or sales manager, or even transition to other roles within the company.
Rewarding Career
Overall, working as an insurance sales agent provides a rewarding experience. These sales professionals play a critical role in helping individuals, families, and businesses protect their health, life, and assets. Knowing that you are providing a valuable service to your clients can be personally fulfilling.
15 Best Insurance Companies to Work For
We understand how important it is for sales professionals like you to build a career with reputable and trusted companies. Here is our list of the 15 best insurance companies to work for as an agent.
1. Liberty Mutual Insurance
A trusted company with over 100 years of industry experience, Liberty Mutual Insurance is one of the largest and oldest insurance providers in the United States. It offers a wide range of insurance products and services to individuals, families, and businesses. Some of their popular products and solutions are auto, life, home, commercial, pet, and other specialty insurance.
Liberty Mutual Insurance is the best insurance company to work for because it showcases a work culture that supports and empowers its employees and sales agents. Among the benefits that the company offers are:
- Competitive pay package
- Commissions and bonuses
- Health Savings Account (HSA)
- Health, dental, and vision coverage
- Disability insurance (both short- and long-term)
- Life insurance (for the employee and their family)
- Accidental death and dismemberment insurance
- Flexible Spending Accounts
- Employee Assistance Plan (EAP)
- Retirement benefits
- 401(k) savings plan
2. Protective
Protective is a financial services company that offers a range of insurance and investment products to individuals, businesses, and institutions. These include life insurance, annuity products, retirement planning and investment solutions, and asset protection services among others. Founded in 1907, the company has a long history in the insurance and financial services industry. It is known for its strong financial stability and has received high ratings from credit rating agencies like A.M. Best and Standard & Poor’s.
Some of the reasons why it’s best to work for Protective as an insurance sales agent are:
- 2023 Great Place to Work Certification™
- Diversity, equity, and inclusion
- Competitive pay package
- Medical, dental, and vision insurance
- 401(k) and pension
- Fitness center and health clinic
- Employee Assistance Program
- Disability insurance
- Career enrichment and scholarship programs
- Paid time off
- Parental leave
3. Allstate
Allstate stands as a prominent and highly recognized insurance provider in the United States. The company offers a diverse range of insurance policies, catering to the unique needs of individuals and businesses. Among its offerings are auto, home, renters, life, and business insurance. Allstate is known for its strong financial stability and proven track record. The company operates through a network of insurance agents, brokers, and a direct-to-consumer sales model, allowing customers to purchase policies through various channels.
Allstate is considered as one of the best insurance companies to work for because of the following reasons:
- Collaborative and inclusive work environment
- Medical, dental, and vision coverage
- Cash balance pension plan
- 401(k) plan
- 20 total accrued PTO days
- 9 company holidays
- Options to work in the office, at home, or both
- Free counseling sessions relating to finance and mental health
- Recognition rewards
4. The Hartford
The Hartford Financial Services Group is a well-established and reputable insurance and financial services company based in Hartford, Connecticut. Founded in 1810, the company boasts a long history and proven track record in providing insurance and investment products to individuals, businesses, and institutions of all sizes. Specializing in commercial insurance products, the company sells property and casualty insurance, liability insurance, workers’ compensation, and specialty coverages tailored to specific industries.
Hartford is another insurance company that offers an excellent workplace for sales agents because of the following reasons:
- Comprehensive pay package
- Medical, dental, and vision coverage
- 401(k) plan
- Health savings account
- Student Loan Paydown program
- Tuition reimbursement
- On-site, remote, and hybrid work options
- Development and training
- Employee recognition
- Employee referral Bonus program
- Travel and shopping discounts
- Flexible work arrangements
- Volunteer opportunities
- Paid time off
5. Nationwide Insurance
Nationwide Insurance is another entry in our list of best insurance companies to work for as an agent. It is a prominent insurance and financial services company in the US. The company was founded in 1926 as the Farm Bureau Mutual Automobile Insurance Company and later evolved into Nationwide Insurance. It offers a wide range of insurance products and solutions, including auto, home, life, commercial, motorcycle, and pet insurance among others. It also offers a range of banking and financial services, as well as retirement planning and wealth management solutions.
If you are planning to apply to Nationwide, you will be getting the following benefits if you get hired:
- Comprehensive pay package
- Medical, dental, and vision coverage
- 8 days paid time off
- Company holidays
- Life, accident, and disability insurance
- Health savings account (HSA)
- Family Medical Expense Flexible Spending Account (FSA)
- Nationwide Retirement Plan
- Nationwide Savings Plan 401(k)
- Retiree health care
- Nationwide Educational Assistance Program
- National Merit Scholarship Program
- Insurance discounts
6. GeoBlue Travel Insurance
It is a provider of international travel medical insurance and health services for travelers who venture abroad. GeoBlue is a trade name for Worldwide Insurance Services, LLC, which is an independent licensee of the Blue Cross Blue Shield Association. The company specializes in offering comprehensive travel health insurance plans that provide coverage for medical emergencies, illnesses, accidents, and other health-related issues while traveling internationally.
In terms of offering travel protection and plans, GeoBlue is the best insurance company to work for due to the following reasons:
- Comprehensive pay package
- Medical, dental, and vision coverage
- 401(k) savings plan
- Paid time off and holidays
- Vacation leave
- Career development and opportunities for growth
- Flexible work arrangements
7. Oscar Health
Oscar Health is a health insurance company that focuses on providing individual and family health insurance plans. Founded in 2012, the company has gained recognition for its technology-driven approach to healthcare and its efforts to simplify the health insurance experience for consumers. Its health insurance products typically cover essential health benefits, including doctor’s visits, hospitalization, prescription drugs, preventive care, and more.
Many sales agents consider Oscar as one of the best insurance sales companies to work for due to the following perks and benefits:
- Comprehensive pay package
- Health insurance
- 401K plan
- Health savings accounts
- Fitness classes
- Access to mental health support
- Paid time-off and wellness days
- 10+ weeks of parental leave
- Learning and development opportunities
- Management training
8. Progressive Insurance
Although it sells and offers a wide range of insurance products, Progressive is best known for its auto insurance coverage. The company offers various types of auto insurance policies, including liability, collision, comprehensive, uninsured/underinsured motorist coverage, and more. Founded in 1937, Progressive has become one of the largest auto insurance providers in the country.
According to SNL Financial’s 2021 National Written Premium data. Progressive is the no. 1 insurance company in the combined personal and commercial auto category. Here are other reasons why it’s the best insurance company to work for:
- Above-industry standard base pay
- Company-wide gainsharing incentive plan
- 401(k) retirement plan
- Performance bonus program
- Milestone service anniversary cash rewards
- Medical, dental, and vision plan options
- Health Care Flexible Spending Accounts (FSA)
- Health Savings Accounts (HSA)
- Employee Assistance Program
- Tuition Assistance Program
- Employee Referral Program
- Progressive Insurance Benefit
- Equity Incentive Program
- Health and wellness program
- Paid Time Off (PTO) program
- Training and career development
9. Healthfirst
Healthfirst is a not-for-profit health insurance company based in New York City, primarily serving individuals and families in the New York metropolitan area. Founded in 1993, Healthfirst is one of the largest healthcare providers and insurance companies in the state of New York. The organization strives to provide access to affordable and high-quality healthcare services for its members, especially in underserved communities.
When you work for Healthfirst, you will gain and experience the following benefits:
- Working with a fun and passionate team
- Competitive compensation based on employee performance
- 401(k) retirement plan
- Identity theft coverage and protection services
- Undergraduate, graduate, and continuing education
- Basic life insurance
- Basic short-term disability plans
- Health Savings Account (HSA)
- Health Reimbursement Account (HRA)
- Flexible Spending Account (FSA)
10. Farmers Insurance
Farmers Insurance Group is another American insurance company that sales agents and employees find best to work for. It offers a comprehensive range of insurance products and financial services, including auto, home, renters, life, and business insurance among others. The company employs a network of insurance agents and representatives who work closely with customers in customizing policies and plans that match their specific needs.
Farmers are considered one of the best insurance companies to work for as an agent because of the following reasons:
- Competitive compensation and benefits packages
- Opportunities for career advancement and professional growth
- Diversity and inclusion
- Training and development programs
- Medical, dental, and vision coverage
- 401(k) savings plan
- Paid time off and holidays
- Vacation leave
- Flexible work arrangements
11. Colonial Life & Accident Insurance Company
Colonial Life & Accident Insurance Company is an established American insurance provider specializing in voluntary benefits and workplace insurance. It offers a range of insurance products designed to help individuals and families navigate financial challenges in the event of illness, injury, or loss of income. The company is renowned for its notable commitment to providing personalized insurance solutions to employees through its workplace benefits programs.
If you are looking to apply to Colonial, look forward to the following perks and benefits when you get hired:
- Competitive pay package
- Medical, dental, and vision coverage
- 401(k) savings plan
- Paid time off and holidays
- Vacation leave
- Career development and opportunities for growth
- Training and development programs
- Flexible work arrangements
12. MetLife
Recognized for its strong financial stability and extensive global presence, MetLife is a global insurance company based in New York. Founded in 1868, the company is considered one of the largest and most well-known insurance providers in the world. It offers a wide range of insurance, retirement, and financial products and services to individuals, businesses, and institutions. These include life insurance, employee benefits, and annuity products among others.
MetLife is considered one of the best insurance sales companies to work for in the US because of the following reasons:
- Competitive pay package
- Medical, dental, and vision coverage
- 401(k) savings plan
- Paid time off and holidays
- Vacation leave
- Career development and opportunities for growth
- Training and development programs
13. Lincoln Financial Group
Lincoln Financial Group is another entry in our list of best insurance sales companies to work for. It is a diversified financial services and insurance company that was founded in 1905. The company provides various life insurance products, including term life insurance, universal life insurance, variable universal life insurance, and indexed universal life insurance. These policies offer financial protection and potential cash value accumulation.
Working for Lincoln Financial Group as a sales agent offers the following benefits:
- Competitive pay package
- Medical, dental, and vision coverage
- 401(k) savings plan
- Paid time off and holidays
- Vacation leave
- Career development and opportunities for growth
- Training and development programs
14. Transamerica Corporation
Based in Baltimore, Maryland, Transamerica Corporation is a prominent financial services and insurance company with a long-standing track record. Founded in 1904, the company is known for its commitment to helping individuals achieve financial security by providing insurance, retirement, and investment products and services to its clients. Some of the life insurance products it offers are term life, whole life, universal life, and indexed universal life insurance. It also offers retirement solutions, mutual funds, Medicare supplement insurance, employee benefits services, and so much more.
Here are some of the reasons why Transamerica is an excellent insurance company to work for as a sales agent:
- Competitive pay package
- Medical, dental, and vision coverage
- 401(k) savings plan
- Paid time off and holidays
- Vacation leave
- Career development and opportunities for growth
- Training and development programs
15. State Farm
Finally, to cap off our list of 15 best insurance companies to work for as an agent is State Farm. State Farm is a well-known insurance company based in the US that offers a wide array of insurance products and solutions. These include auto, home, life, health, and commercial insurance. State Farm is known for its strong customer service, an extensive network of insurance agents and representatives, and its commitment to community involvement and philanthropy. The company often works with independent insurance agents and has a widespread presence in communities across the United States.
If you are looking to explore a career opportunity with State Farm, apply as a sales agent in the company and receive the following benefits when you get hired:
- Competitive pay package
- Medical, dental, and vision coverage
- 401(k) savings plan
- Paid time off and holidays
- Vacation leave
- Career development and opportunities for growth
- Training and development programs
Wrapping It Up
Working as a sales agent in one of the best insurance companies in the US can offer a rewarding and potentially lucrative career. If you have strong communication skills, great knowledge about the insurance industry, and the ability to connect and build relationships with individuals and businesses, you should consider applying to the best insurance companies to work for in the US.
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