Just Starting Out and Need Some Pointers.

[trevleffingwell]

Good luck. Don't quit. If you quit, every other crappy agent wins.

 

[UW Guy]

When I place fully-underwritten business with an immediate benefit, as a rule I do not get access to underwriters. This is a policy set by the carriers that is enforced by every distributor with whom I work. I am sure that one big reason is that life insurance companies want the wholesaler to act as a filter and prevent a lot of demanding brokers from pestering their underwriters. There have been a few exceptions to this with cases that needed extraordinary handling.

As an underwriter who has to respond to the field's questions daily...it's a blessing and a curse. I'm one of the few underwriters who talks to our reps in a manner that tries to get sale and explain our position. On the other hand the daily deluge of wasteful message and pointless fights wastes so much time on both sides. We hear about carriers that don't let reps talk to underwriters and it sounds great but creates issues like this.

 

[Stevekobrin]

As an underwriter who has to respond to the field's questions daily...it's a blessing and a curse. I'm one of the few underwriters who talks to our reps in a manner that tries to get sale and explain our position. On the other hand the daily deluge of wasteful message and pointless fights wastes so much time on both sides. We hear about carriers that don't let reps talk to underwriters and it sounds great but creates issues like this.

Yes, I understand your position completely. It is a blessing and a curse. This is why I think the best of both worlds is when you have a general agent who is proficient both in sales and underwriting. He or she can mediate between the sales person and the home office underwriter.

 

[1963]

Hello gabby; I wish you well in your endeavor!
You seem to have a two-part inquiry. I hope to shed some light on issues that you may be in the dark about.
For the issue of splitting commissions with the boss, I would work out acceptable terms with him. Instead of starting on your own with an overhead cost that bogs you down, you can earn the funds needed to start up your own agency in 24-36 months. Make ownership of the book of business you build be a part of your request. L&H yields a larger commission, but P&C builds more stable revenue over the long haul; %age ratios vary, depending on whom you ask; mine has been hovering around 60-40.
Compile a list of 8-10 companies you have heard of that interest you. Make sure to get some that are popular to your state/region. Do your research using criteria you are comfortable with (mine are: A. Product mix for my target market; B. Company responsiveness to clients; C. Agent employee's level of satisfaction). Trim that list to 4 using your criteria. Hope this helps
Start small, think big, and make it happen! It's waiting for you! Good luck!!!