BladeRunner
Expert
- 26
Hello everyone, and Happy New Year 2012!
I'm a new property, casualty, life insurance agent in the Midwest, USA and I'd appreciate some sincere advice on how you feel I'm progressing and some advice on where I should take my career.
Let me give you some background.
I have about 5 years of sales experience. I have no prior insurance sales experience or anything close for that matter. (i.e. mortgage broker, real estate, etc.)
I work for an agency that:
-Provides appointments with a few insurance companies.
-Owns my book of business.
-Pays all business overhead, agent has no cost to do business.
-Pays base salary for 1 more year while I build my book of business.
-Commissions structured by number of policies written, not commission dollars earned.
Progress thus far:
With an empty book of business, I managed in first few months to:
-Progress to writing 20-30 policies a month
-Maintain a monthly total premium of about $20K. A few months at $35K and $15K.
-Successfully built my book thus far on mostly cold calling.
I like insurance for the following reasons:
-Potential to make unlimited income and building a strong financial future.
-Insurance is recession proof as any sales career can be.
-I have a career I can take anywhere, to any agency, or go out on my own.
Where my thoughts are now:
-I think about working for myself somehow.
-I imagine running my business.
-Being a solo, independent agent sounds exciting.
I could work as a captive agent for, let's say, Farmers, State Farm, Allstate, and own my book of business and maybe even take over a book of business from a retired agent and have back office support and such. The drawback to that for me is, I'd be captive to that one company and their rates and their ability to stay in business and thus keep me in business.
How do you feel I've done so far?
What options are there to go independent?
I'm at a point in my life now where I'm wondering, what's next?
Well, I appreciate you taking the time to read this. maybe you can at least share your experiences, personal anecdotes, thoughts and encouragement, ideas are all welcome.
Thanks in advance for your help.
-BR
I'm a new property, casualty, life insurance agent in the Midwest, USA and I'd appreciate some sincere advice on how you feel I'm progressing and some advice on where I should take my career.
Let me give you some background.
I have about 5 years of sales experience. I have no prior insurance sales experience or anything close for that matter. (i.e. mortgage broker, real estate, etc.)
I work for an agency that:
-Provides appointments with a few insurance companies.
-Owns my book of business.
-Pays all business overhead, agent has no cost to do business.
-Pays base salary for 1 more year while I build my book of business.
-Commissions structured by number of policies written, not commission dollars earned.
Progress thus far:
With an empty book of business, I managed in first few months to:
-Progress to writing 20-30 policies a month
-Maintain a monthly total premium of about $20K. A few months at $35K and $15K.
-Successfully built my book thus far on mostly cold calling.
I like insurance for the following reasons:
-Potential to make unlimited income and building a strong financial future.
-Insurance is recession proof as any sales career can be.
-I have a career I can take anywhere, to any agency, or go out on my own.
Where my thoughts are now:
-I think about working for myself somehow.
-I imagine running my business.
-Being a solo, independent agent sounds exciting.
I could work as a captive agent for, let's say, Farmers, State Farm, Allstate, and own my book of business and maybe even take over a book of business from a retired agent and have back office support and such. The drawback to that for me is, I'd be captive to that one company and their rates and their ability to stay in business and thus keep me in business.
How do you feel I've done so far?
What options are there to go independent?
I'm at a point in my life now where I'm wondering, what's next?
Well, I appreciate you taking the time to read this. maybe you can at least share your experiences, personal anecdotes, thoughts and encouragement, ideas are all welcome.
Thanks in advance for your help.
-BR
Last edited: