Just Started About 1 Year Ago, Looking for Honest Advice.

[Mike24]

I got my license in life insurance about 14 months ago. Up until recently it was a bumpy ride- got suckered into NAA and left quickly, as do most. I decided to go into life insurance because I have extended sales and marketing experience and fundamentally the insurance business has everything a marketer could want or need. I know the business has a lot clowns and has even become somewhat of a joke in some circles because of the NAA and Securus type agency setups out there.
After leaving NAA I decided to join a small agency run by someone who has had a successful career in the business. He has taken a liking to what I bring to the table and mentored me. He's made me into a good agent and I have improved the marketing metrics.
Tonight we had one fundamental disagreement.
As a marketer I know that your best source of new business is your client base. I've personally built a client base of close to 100 policy holders and now the marketer in me tells me it's time for an upsell. I asked him about getting my p&c license and offering to see if I could save them money on their car insurance. My clients like if not love me and I'm thinking this could be an easier way of improving profitability. He thinks it's too much work.
So my question is am I right or wrong to want to handle more than one type of insurance for my clients?

 

[Guest]

You said that you joined an agency. What kind of agency did you join? Is it a life/health only agency or a P&C agency?

 

[Mike24]

It's life/ health. But I might even call it just life.

 

[Guest]

That's why then. If he's a L&H guy then his agency isn't licensed in P&C and he won't make any money off of you cross selling that to your book. P&C is a different animal than L&H. Its much harder to get appointed, it takes a lot longer to build your commissions up to a level where you can support yourself, you've got to learn how to find desirable business, etc..

If you are wanting to get into P&C then your best bet is to go and find a good indy P&C agent and just start talking. Most P&C agencies have or need a really good L&H salesman to cross sell their book. If you're good at it then that can be your opportunity.

You really just need to figure out what you want to focus on and go from there. I came from L&H and now have a P&C agency. Sometimes I wish that I'd have stuck with L&H because the commissions are bigger and its not as much work.

 

[Mike24]

Okay thank you. I half-figured that. I feel like my clients would trust me with their car insurance policies and more, they would even prefer it in most cases. I'm not sure about cross-selling though. The reason it may not work is the relationship I've built with them and they feel safe with me. I'm in New England and these people are tough to do business with. I would just assume do it all on my own if possible. That leaves me without the mentoring that helped me get up to industry speed.

 

[PFG Agency]

I too put time in at NAA... However, I had several years of insurance experience prior and went with NAA to learn. What they are missing is #1 Good Leads #2 Good Management #3 Other products. They throw new agents against the wall and see what sticks! You can make a very nice income in selling final expense, medicare, and annuities. Don't give up learn, apply, re-evaluate.