This article states almost half of you will be gone by next year. Fess up, who is thinking about leaving:
Nearly half of brokers ready to exit | BenefitsPro
Nearly half of brokers ready to exit | BenefitsPro
Are You Leaving the Health Business?
- Thread starter Yagents
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I'm thinking about it.
Okay, I'll be more serious now. I just love this quote from an article I read:
Also important to succeed? To be an early adopter. Lloyd referred to a similar talk he gave about the same lesson. “I was asked to speak to a group of agents. Most of them were telling me what I’ve been hearing from brokers here — that the end is near, we are distressed, we are doomed. Our commissions being cut in half and there are new exchanges coming selling what we sell.”
That was about 10 years ago, Lloyd said. And it wasn’t insurance agents he was talking to — it was travel agents. Despite all the doomsday predictions when those new exchanges arrived — sites like Orbitz and Expedia — there are still about 105,000 full-time travel agents in the county, and many more part-timers. “They still book 85 percent of cruises, 75 percent of tours, 50 percent of airline tickets,” Lloyd said. “And the ones that made it were the ones who had extreme customer service.” And, according to the Department of Labor, their employment is projected to increase by 10 percent from 2010 to 2020.
Insurance brokers and agents are anything but doomed, but they do have to work for success. “When there’s major change, be an early adopter,” Lloyd said. “Don’t get left behind.”
That was about 10 years ago, Lloyd said. And it wasn’t insurance agents he was talking to — it was travel agents. Despite all the doomsday predictions when those new exchanges arrived — sites like Orbitz and Expedia — there are still about 105,000 full-time travel agents in the county, and many more part-timers. “They still book 85 percent of cruises, 75 percent of tours, 50 percent of airline tickets,” Lloyd said. “And the ones that made it were the ones who had extreme customer service.” And, according to the Department of Labor, their employment is projected to increase by 10 percent from 2010 to 2020.
Insurance brokers and agents are anything but doomed, but they do have to work for success. “When there’s major change, be an early adopter,” Lloyd said. “Don’t get left behind.”
- 1,896
I'm pondering it, in all honesty. It might be later this year, it might be after open enrollment - I have no idea. I have several offers on the table from clients for good jobs, even some with potential ownership, outside of the insurance industry.
I'm tired of the games that are being played by the regulators (state, federal) and the carriers.
I'm tired of the games that are being played by the regulators (state, federal) and the carriers.
Seriously, Stuy119, you could get an excellent job in any industry you wished. I'm impressed with you, and in the way you tackled this complex law and researched until you became an expert. I don't want you to leave this industry, mind you, I'm just saying that you would be a valuable asset to any company that hired you or made you a part owner.
- 1,896
I agree (I'm quite cocky), and I appreciate the kind words.
This stuff just has me fed up. There's no reason it needs to be this difficult or complicated, with this many hoops to jump through - especially when the plans are sanitized and standardized (or thought to be). It should just be "GO SELL!" with some administrative work in the background, and basic business functions (marketing, sales, customer service, etc.).
Last week was close to my breaking point (the employer mandate delay). If it's so difficult, but only going to affect 3% of all businesses, why did it need to be pushed back? If it's only going to affect 3% of all businesses, shouldn't it be simple and not be labor-intensive, since it doesn't have much affect on the overall scheme of things?
Ridiculous.
- 9,744
I mean...really...it's not like there hasn't been any notice...
When Obama was elected in '08, (that's FIVE years ago, and long before Yagents was around) the handwriting was on the wall. I said it was over then (you can look up the posts).
Most stayed in denial.
Fast forward to 2010. It will never pass, they cried!
It did.
The smart ones starting planning in 2008, and were out by 2010. They're repositioned for success now. The dummies are still in denial.
Medicare Advantage is next.
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