90 Day Probation Period Ending Need Advice

[socalinsuranceguy]

This is my fist thread so please keep that in mind. I am looking for advice from some of you seasoned (well anyone more seasoned than me....pretty much everyone).

Background:
age: 25
Licensed: P&C for 4 months
State: CA(socal)

The SITUATION:
I work at and independent agency that's business is 95% based off of filing SR22 and writing Auto policies for people with DUI's on there records. Most of the business comes from Attorneys that we network with. My starting Comp plan is as follows $10 hourly + 13% of broker fee only (they range from $100-$300 on average). that being said I am bringing home about $2,200 a month which does not go far in Southern CA if anywhere. My 90 day review is coming up early next month and at that time I can negotiate for a new Comp plan however I have no idea what I should try and set up? I do have carriers available to me to write Auto, Home, and some commercial lines however I have 0 training beyond the licensing material and need to know how I can find training in these lines?

I want to make a career in insurance and I know that it takes a few years to really start making money, However only making a percentage of the broker fee and non of the commission does not really seem to benefit me in the long term. I would also like to be an expert in my field so proper training is very important. If anyone could point me in the right direction it would be greatly appreciated.

Thank you!

 

[BlockO]

Things must be much different in Cali..... $100-300 in brokerage fees for an SR22 w/DUI? Really?!!!

also, I'm a little confused.... you've been there almost 90 days and received zero training?

 

[socalinsuranceguy]

BlockO,

yes the premiums are typically in the $150-250 range for a non owners/SR22 and we charge a $250-$350 broker fee. I have received training and am proficient in Personal Auto/ SR22 filing however not in any other line. This is why I want to learn how to write other lines so I can hopefully start making commission on premiums and not rely 100% on SR22 DUI type policies with huge BFS.

 

[Agent Ave]

Hi socalinsuranceguy,

Your a young, passionate person I can tell. You have a lot to learn and I'm sure you will get there one step at a time. You need to ask yourself, are you looking for the big commission now or for more training & learning?

If you want more and better training, I would recommend you looking into the captive carriers and being hired from them at first. They tend to have more training while on your long learning curve.

Since you seen how the independent side works, if you just want to focus more on other lines beside SR22, you can always interview with other agencies. There are always other agencies looking for good talent that do sell beyond the SR22. You just need to knock on doors and be persistent to find that right fit. If you get an interview, just ask what percentage they sell in each line.

I am very curious, what carriers do you guys mainly sell with the SR22? How many carriers do you work with that take the SR22? 95% in SR22 is huge, is the agency profitable selling just this type of business?

Regarding your new comp plan, you can try to renegotiate what you want but in the end, if the agency does not give you want you want in terms of "commission & training", you need to just go elsewhere. You mention that you want to make a career in insurance, and if that is your commitment, I would highly looking into the captive carriers such as State Farm, ect. You will get a lot more training about all lines of business besides just the SR22. In the end, if you do well with the captive agents, they will set you up with an office, salary and more.

Let me know about the SR22 questions.

Thanks!

 

[socalinsuranceguy]

Agenzyportal,

Sorry for the delay in a reply. Yes I believe the agency where I am currently working is profitable (they are hiring more agents/ renting the office space next to mine.) We currently write a majority of our SR22 policies with about 3 main carriers. We also do some standard auto and home through Mercury.

If you could also give me some insight to what the "industry norm" is in regards to a decent pay plan that would be greatly appreciated.

Regards,