Misconceptions About Insurance Agent In Singapore 2024

SME Loan Singapore

Misconceptions About Insurance Agent

There are many misconceptions on insurance agents. Coming from the finance industry, many people have been asking me about my personal experience in the finance industry (more specifically financial advisory). So today I will share some of the biggest misconceptions out there.

Misconception #1

Insurance agents always like to sell the product that they can earn the most from it. The truth is most insurance agents sell the product that is most likely to be accepted by the client and it is the client that give them the product preference.

Misconception #2

Most insurance agents like to sell Investment-related products. The truth is most clients approach the agent looking for short term investment products. By short term, I am referring to 3- 9 months time horizon. Most insurance agent say they have investment products but in the actual fact, most tied financial advisors only have products similar to mutual funds. So if you are one of the people looking for short term investment, you can approach the various Crowdfunding platforms and investment platform.

One of such good short term investment option would be Crowdfunding campaigns. One can achieve his wealth accumulation goal through investing in Crowdfunding Campaigns. Some new and promising start-ups turn to crowdfunding for alternative fundraising, other than taking up Business Term Loans.

Misconception #3

All insurance agents are profit-driven. This is not true. Insurance agents with profit-driven mindset often won’t be able to do well because the majority of the market favors those who genuinely care for their clients. Hence, those successful agents are actually the good people with the right mindset to help people.

BizSquare is a one-stop business consultancy firm providing Loan Consultancy Services, Accounting and Corporate Secretarial Services, Branding and Marketing Consultancy, Strategy Management and Start-up Mentorship.


Ready to bring your Business to the Next Level?

We’re the company you don’t want your competitors to work with.
Because we deliver.
Every time.