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Mitchel Zelman Last Look Consulting
January 14, 2022

Mitch Zelman Shares Six Tips To Becoming A Successful E&S Property and Casualty Broker

To be successful in the E&S property and casualty insurance world, it is important to have several essential skills. From networking, relationship building, and selling skills to knowledge of the market, several things go into being a top broker. However, one of the most important things for success is having a firm grasp of insurance basics and training with experienced brokers in, the industry. This includes learning about the nuances of each policy, how they work and what is needed to process them. Mitch Zelman will discuss some tips that can help you succeed in the industry in this post.

Obtain College Degree in Business or Finance & Join Relevant Organizations on Campus

As you progress through your career, there will likely be opportunities for advancement that come available at your company. Some of these positions will require additional education and certifications depending on what they entail, so it’s important to consider whether you want to advance more quickly with an E&S brokerage firm by having a relevant college degree in your back pocket as well as necessary certifications, internship experience, participation in relevant on-campus organizations, etc. 

A degree in finance or accounting, internship experience in the industry, and membership in risk management organizations can go a long way toward getting you noticed by senior members of staff who make hiring decisions and may lead directly towards management roles in the future. 

Learn the Basics of Insurance

One of the best ways to become successful as an E&S broker is to learn insurance basics. This includes learning about different kinds of policies, how they work and what is needed to process them. In addition, it’s important to be familiar with the insurance market and what is happening in the industry. By having a strong understanding of these concepts, you’ll better serve your clients and provide them with the best possible service. You don’t need to be an expert on every policy out there but having a general understanding of the industry will help you better serve your clients.

Get Your License to Sell Insurance

You must have a license from your state’s insurance department to sell insurance. Getting a license varies by state, but most require passing an exam and meeting certain education requirements. Some brokers choose to get their license before joining an E&S company, while others focus just on getting hired by a firm and then go back to get their license later. Either way, it’s important to have your license to sell insurance. If you’re not sure where to start or what your state’s specific requirements are, you can likely reach out to an expert for more insight or do some research about insurance in your state online.

Join an E&S Company as a Trainee Broker

Once you have your license, the best way to begin building up your career is by joining an E&S company. Start on the ground floor and work with experienced brokers who can serve as mentors and references when needed. Some companies require trainees to complete sales activities or prospecting before selling their policies, so be sure that any company you join has similar requirements in place for new employees if this is what you’re looking for.

 Gain Experience By Completing Sales Activities and Prospecting For at Least Two Years

Your first few years of working will likely involve an apprentice period including shadowing and training from experts in the industry, such as Last Look Consulting.

Additionally, trainees will likely be expected to complete delegated tasks set out by more senior staff members within the organization. This may include making sales calls, completing account reviews, or networking at industry events. No matter what tasks you’re assigned, be sure to complete them as thoroughly and quickly as possible. Don’t be afraid to ask questions. This will demonstrate your dedication and hard work ethic to your employers and help you advance within the company. Mitch Zelman says it’s important to work hard to develop a strong skill set and become familiar with the market.

 Become an Expert in a Particular Line of Business to set Yourself Apart

One way to set yourself apart from other brokers is by becoming proficient in specific lines of business such as property, commercial, or other related types of insurance. This will show clients that you have a great deal of knowledge of the industry and offer them advice on specific policies. 

 If you want to become a successful E&S property and casualty broker, there are six steps you should take. It would help if you started with getting a relevant university degree and interning/joining organizations for the experience. Then, it’s important to learn the basics of insurance so that when it comes time for your licensing exam, you will have no problem passing. Next, get your license as soon as possible. This will set you apart from others looking to enter the industry. Join an E&S company as a trainee broker and gain experience by completing sales and prospecting activities for at least two years so that you can maximize your learning curve. Finally, if you want to become a successful E&S property and casualty broker, follow these steps to pave your way towards success!

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