Rumors Being Confirmed at Allstate

[Crabcake Johnny]

Norway, I'm with you. I'm failing to see any allure at all with "owning" any one of the captive insurance outfits. At best it seems like you're buying a headache.

If someone want a concept it's to come up with a franchise deal for independents. It would be similar to an override situation and the most expensive part is you'd have to brand a name.

But imagine if someone with a ton of dough branded an independent outfit where the franchise owner could sell basically anything.

 

[CaptiveGuy]

Norway, I'm with you. I'm failing to see any allure at all with "owning" any one of the captive insurance outfits. At best it seems like you're buying a headache.

If someone want a concept it's to come up with a franchise deal for independents. It would be similar to an override situation and the most expensive part is you'd have to brand a name.

But imagine if someone with a ton of dough branded an independent outfit where the franchise owner could sell basically anything.

They aren't nationally recognized by consumers yet but Smart Choice is trying this concept.

Smart Choice Insurance Centers Franchise Program - Smart Choice - www.smartchoiceagents.com

 

[CHUMPS FROM OXFORD]

And here they are...

Smart Choice Team

 

[CaptiveBroke(r)]

Does that affect their current agents or new agents?

That applies to all....30 year vets and new hires.

 

[Dudley76]

That applies to all....30 year vets and new hires.

"Captive Broke(r)" - Priceless.

 

[OCinsurance]

Norway, I'm with you. I'm failing to see any allure at all with "owning" any one of the captive insurance outfits. At best it seems like you're buying a headache.

If someone want a concept it's to come up with a franchise deal for independents. It would be similar to an override situation and the most expensive part is you'd have to brand a name.

But imagine if someone with a ton of dough branded an independent outfit where the franchise owner could sell basically anything.

This is something about which I have thought. I sell insurance in almost every state and have carriers that target a wide variety of markets. I am looking to expand and see what can be done, but finding the right team has been hard to go and expand to physical locations in other states.

 

[P&CGuru]

The truth of the matter is Allstate has been recruiting anyone with a pulse and a P&C license for far too long and the level of knowledge and service vary drastically from office to office. The new changes are bad for sub par agencies but great for over performing agencies.

 

[nsurenc]

Now we know the commision structure was changed to 9 and 9 with no guarantees that it will not be adjusted in the future. The bonus structure is just as volatile, increasing in difficulty this year greatly. What I see as being a a real challenge to the agent in the future is the companies focus on the rolling 12 month life count which ranges from 18 to 35 policies depending on agency size. If you do not maintain your minimuns you then drop in commisions to 9 and 9 for the month. Its a constant focus to keep up the life, however it takes valuable time and resources away from writing and maintaining p&c business.

 

[insprof]

Nsurenc is spot on with above post!

 

[todd02]

Now we know the commision structure was changed to 9 and 9 with no guarantees that it will not be adjusted in the future. The bonus structure is just as volatile, increasing in difficulty this year greatly. What I see as being a a real challenge to the agent in the future is the companies focus on the rolling 12 month life count which ranges from 18 to 35 policies depending on agency size. If you do not maintain your minimuns you then drop in commisions to 9 and 9 for the month. Its a constant focus to keep up the life, however it takes valuable time and resources away from writing and maintaining p&c business.

What is 9 & 9 mean? Is that auto and home commission? How is Allstate commission structured?

At Farmers we get 10% auto (every 6 mo). Home 20% 1st yr, 14% home renewal. We however don't get production bonus' with home and auto unless they have some special promotion for year over year production goals.