- 428
ok I toyed with putting up the last line and thought what to hell??
And his **** showed it cause it was a Longfellow!!!
And his **** showed it cause it was a Longfellow!!!
Farmers Vs Met Life
- Thread starter joe26
- Start date
- Staff
- #22
Poetry I think!
- 428
Hire 'em in masses
Teach 'em in classes
Sell all their friends and
Fire their asses!
------------------------------------
he's a poet and didn't know it
but his **** showed it
cause it's a Longfellow!!!
Teach 'em in classes
Sell all their friends and
Fire their asses!
------------------------------------
he's a poet and didn't know it
but his **** showed it
cause it's a Longfellow!!!
APInsurance
Expert
- 25
I was a Farmers agent for over 6 years. Training was terrible. I basically got thrown out to the wolves. Prices are high, but the systems have been getting better the last 2 years.
The Good: They are starting to implement more marketing programs, but you have to pay for them. personal line products are good. Prices are just unpredictable.
The Bad: No education on internet marketing and social media. Up to date they are still old school. I had to go out and learn about websites, autoresponders, Social Media.
If You want to focus on Life, met Life is better. But for Home and Auto, Farmers is still one of the best.
I would recommend joining an independent company.
I hope this gives a little insight
Regards,
Kevin
APInsurance
The Good: They are starting to implement more marketing programs, but you have to pay for them. personal line products are good. Prices are just unpredictable.
The Bad: No education on internet marketing and social media. Up to date they are still old school. I had to go out and learn about websites, autoresponders, Social Media.
If You want to focus on Life, met Life is better. But for Home and Auto, Farmers is still one of the best.
I would recommend joining an independent company.
I hope this gives a little insight
Regards,
Kevin
APInsurance
- 325
Someone posted this earlier.. but it really says everything there is to say about working for just about any captive company...
Xtranormal | First Year Insurance Agent
Xtranormal | First Year Insurance Agent
- 218
It's the difference between definitely STARVING and at least having a small chance not to STARVE.
With Farmers you are getting approx 15% on personal lines insurance sales.
You sell someone an auto policy that's $400 for 6 months you make $60. You sell that same person a homeowners policy for $1,000 annual and you make $150. If the client keeps his auto with all year that's approximately $270 for the annual commission.
In retrospect you sell someone a $60 life insurance premium (not sure on Met Life's captive payout) but let's say it's only 70% you're making $504. That's only on one policy as opposed to 2 like above.
It's almost IMPOSSIBLE to start an agency in P&C and survive
With Farmers you are getting approx 15% on personal lines insurance sales.
You sell someone an auto policy that's $400 for 6 months you make $60. You sell that same person a homeowners policy for $1,000 annual and you make $150. If the client keeps his auto with all year that's approximately $270 for the annual commission.
In retrospect you sell someone a $60 life insurance premium (not sure on Met Life's captive payout) but let's say it's only 70% you're making $504. That's only on one policy as opposed to 2 like above.
It's almost IMPOSSIBLE to start an agency in P&C and survive
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sanantonio24
New Member
- 8
This posting made me chuckle. A friend of mine lasted only 2 weeks with Farmers. He attempted to quote all of his friends and family with not a single policy written. The rates were over 50 percent higher. His consultive selling techniques were questioned by his DM. His final response was that his mom told him to find another occupation elsewhere. The door never even hit his behind on the way out.
Hrmm... I am a captive agent with Met Auto&Home. I am also a 5 year leaders conference and pinnacle agent/agency. I just returned from our yearly swaray in Las Vegas (better known as Lost Wages). I interviewed with Farmers and was offered the reserve contract. I did the smart thing and had each of the prospective carriers (I interviewed with 7) run quotes on my own auto+home, my mothers, and my brothers (auto and home) to see how things played out for each carrier in the three different risk groups. Met had the best home coverage, and best rate by far. The auto was a bit steep in comparison. However the compensation related to new agency was way over the top in comparison for Met.
However the new PEP agent program is different from what I started with.
Someone asked on the prior page; will an agent with 20-30 etc years of service as captive be terminated because of production. The answer is yes... I have seen it happen. 1.8 mil book going away because the fellow could not write some 3000 a month in premium... after 20 years, they should be able to write 3000 in their sleep off of the book.
Lastly, (Aram said it best) it does not behoove the regional managers and their directors to strike an agent down as it directly corresponds to their paychecks (plans). Aram; are you one of Block's new agents or Mikkelson's?
However the new PEP agent program is different from what I started with.
Someone asked on the prior page; will an agent with 20-30 etc years of service as captive be terminated because of production. The answer is yes... I have seen it happen. 1.8 mil book going away because the fellow could not write some 3000 a month in premium... after 20 years, they should be able to write 3000 in their sleep off of the book.
Lastly, (Aram said it best) it does not behoove the regional managers and their directors to strike an agent down as it directly corresponds to their paychecks (plans). Aram; are you one of Block's new agents or Mikkelson's?
I'd like to respond as well. To WaPnCpRo,
"Someone asked on the prior page; will an agent with 20-30 etc years of service as captive be terminated because of production. The answer is yes... I have seen it happen. 1.8 mil book going away because the fellow could not write some 3000 a month in premium... after 20 years, they should be able to write 3000 in their sleep off of the book."
I was that guy, with a $2.2 million personal lines book, Zarmers marketing plan is to hire newbies in the market, STEAL books from experienced, long-term agents, and then break up the book and hand the books over to these newbies. They are expected to, in return for the "free gift", produce big numbers in P&C and life insurance or they will be fired. Oh, did I forget to mention that the book that was given to them has a horrible rate structure for auto and home insurance? That newbie will be getting 40 to 50 calls a DAY asking why their rates went up again and that they shopped around and can save 30 to 40% on their rates and want to know how that agent will match the quotes they have received. Newbie agent loses another household because Farmers charges higher auto rates to their long term customers. Oh, and the new biz rates are high as well! Farmers will tell their agents "there has never been a better time to be a Farmers agent"....right. Believe me, there has never been a WORSE time to be a Farmers agent. It is absolutely DISPICABLE that Farmers management is STEALING books from agents who have worked for 20+ years, only to have their books stolen from them and there seems there is nothing the agents can do about it. The DM will entice you that you are a good candidate to own your own business; well Mr. DM, what business exactly does a Farmers agent own????????
"Someone asked on the prior page; will an agent with 20-30 etc years of service as captive be terminated because of production. The answer is yes... I have seen it happen. 1.8 mil book going away because the fellow could not write some 3000 a month in premium... after 20 years, they should be able to write 3000 in their sleep off of the book."
I was that guy, with a $2.2 million personal lines book, Zarmers marketing plan is to hire newbies in the market, STEAL books from experienced, long-term agents, and then break up the book and hand the books over to these newbies. They are expected to, in return for the "free gift", produce big numbers in P&C and life insurance or they will be fired. Oh, did I forget to mention that the book that was given to them has a horrible rate structure for auto and home insurance? That newbie will be getting 40 to 50 calls a DAY asking why their rates went up again and that they shopped around and can save 30 to 40% on their rates and want to know how that agent will match the quotes they have received. Newbie agent loses another household because Farmers charges higher auto rates to their long term customers. Oh, and the new biz rates are high as well! Farmers will tell their agents "there has never been a better time to be a Farmers agent"....right. Believe me, there has never been a WORSE time to be a Farmers agent. It is absolutely DISPICABLE that Farmers management is STEALING books from agents who have worked for 20+ years, only to have their books stolen from them and there seems there is nothing the agents can do about it. The DM will entice you that you are a good candidate to own your own business; well Mr. DM, what business exactly does a Farmers agent own????????
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