It works similar to the old answering machine, with the only difference is that the old answering machine will store the voice message in the machine itself, while your phone’s voicemail system will store the voicemail in your service provider server. You can also forward the voicemail message to someone else’s mailbox.
Insurance agents have to deal with large numbers of clients almost all through the year. So, they are extremely busy and cannot take calls of clients. For them resorting to voicemail messages become inevitable. Here is one instance of VOIP phone service for businesses like this:

Tap on Voicemail; From there, you can turn Voicemail on or off, set your Greeting as a default (or record a custom greeting), and turn Voicemail Transcription on or off. Record your own voicemail greeting. Note: Recording a custom voicemail greeting is only available through our iOS or Android app versions.
Voxist users today benefit from the efficiency of our high-quality transcriptions which allow them to read their voicemail messages in-app or via email. They can also delight their callers with customized greetings which they record using their own voice. Our loyal customer base calls us a “voicemail on steroids” (yup we couldn’t make this up ourselves), but there’s one personalized greeting feature they’ve been requesting us to add since the day we launched….