Hi Guys (and Gals)....
I'm posting on here in hopes that you insurance pros may have a wee bit of advice for a new guy on the insurance block.
So here's my story in a nutshell.....
I have been a very successful executive sales professional for many (+15) years. A few years ago, I was displaced out of my industry and needed to find work to pay the bills until the economy got better.
I found an opportunity with a major insurance carrier selling life & accidental insurance. I got licensed and went to work. I was a little disappointed in the job as I was basically a telemarketer with a license but I "dummied up" and did the job as I needed to make sure I had a paycheck coming in. The pay was abysmal but I kept at it. The one thing that I took away from the experience was a strong interest in the insurance industry.
I ended up getting hired back into my industry and that brings us to today.
Last year, I was laid off from my job (again...) and decided to make a go of it in the insurance world but this time I wanted to be a "real" agent....not just a telemarketer (as I come to find out the are called direct producers) but someone who was selling ALL lines of insurance and doing it both face to face as well as on the phone.
Now please....I mean no dis-respect to anyone who does the "direct producer" job because God knows it isn't easy....but that's just not the right fit for me.
I still had my life license and I went and got my P&C (trained online for 6 days, studied for 2, and aced my test with a 91%.....I was seriously motivated..!).
I went and interviewed with the "3rd largest" Insurance company and went into their "Captive Agent" training program. I was so excited....thinking that I was going to be trained and learn the industry from the ground up and than go out and take on the world. That didn't happen.
The "training" was sub-par to say the least not to mention they offered no compensation outside of the commissions from whatever policies I sold.
I get it....I would be running my own business....but I would hope there would be some financial assistance....even a draw vs. commission or something while I was "learning" during the first month or two.
The thing that stung most was they seemed to have little to no interest in really training me at all. I mean systems training, mentoring, industry knowledge.....very little training. It was mostly...create a list of people you know and cut your teeth there and that will teach you how to pitch the product and use the computer systems. I was like WOW...!! Even still I tried...for several months all the while draining my saving account. I was rewarded with very little money in return to say the least.
I then left that opportunity and took a job working for an agent who is with the #1 captive insurance carrier in the country...and that was even a worse experience. I was lied to and taken advantage of.
So here I am now....kinda disheartened by the whole experience and not really sure what to do.
I guess I could always go back to my former industry but I really have grown to like the insurance industry and don't feel I've really had an opportunity to make a go of it.
I even interviewed with a couple of independent insurance companies that wouldn't touch me because I'm green (they want ONLY experienced agents WITH a book of business).
I honestly think I'd rather work for an independent insurance agency over a captive one because of the flexibility and options that pricing with multiple carriers bring.
Anywho....I don't really know what to do from here. There are not very many independent insurance companies in my area....and the 2 biggest ones I was able to find both said no to me.
Anyone got any good advice...?
Thanks for listening.
I'm posting on here in hopes that you insurance pros may have a wee bit of advice for a new guy on the insurance block.
So here's my story in a nutshell.....
I have been a very successful executive sales professional for many (+15) years. A few years ago, I was displaced out of my industry and needed to find work to pay the bills until the economy got better.
I found an opportunity with a major insurance carrier selling life & accidental insurance. I got licensed and went to work. I was a little disappointed in the job as I was basically a telemarketer with a license but I "dummied up" and did the job as I needed to make sure I had a paycheck coming in. The pay was abysmal but I kept at it. The one thing that I took away from the experience was a strong interest in the insurance industry.
I ended up getting hired back into my industry and that brings us to today.
Last year, I was laid off from my job (again...) and decided to make a go of it in the insurance world but this time I wanted to be a "real" agent....not just a telemarketer (as I come to find out the are called direct producers) but someone who was selling ALL lines of insurance and doing it both face to face as well as on the phone.
Now please....I mean no dis-respect to anyone who does the "direct producer" job because God knows it isn't easy....but that's just not the right fit for me.
I still had my life license and I went and got my P&C (trained online for 6 days, studied for 2, and aced my test with a 91%.....I was seriously motivated..!).
I went and interviewed with the "3rd largest" Insurance company and went into their "Captive Agent" training program. I was so excited....thinking that I was going to be trained and learn the industry from the ground up and than go out and take on the world. That didn't happen.
The "training" was sub-par to say the least not to mention they offered no compensation outside of the commissions from whatever policies I sold.
I get it....I would be running my own business....but I would hope there would be some financial assistance....even a draw vs. commission or something while I was "learning" during the first month or two.
The thing that stung most was they seemed to have little to no interest in really training me at all. I mean systems training, mentoring, industry knowledge.....very little training. It was mostly...create a list of people you know and cut your teeth there and that will teach you how to pitch the product and use the computer systems. I was like WOW...!! Even still I tried...for several months all the while draining my saving account. I was rewarded with very little money in return to say the least.
I then left that opportunity and took a job working for an agent who is with the #1 captive insurance carrier in the country...and that was even a worse experience. I was lied to and taken advantage of.
So here I am now....kinda disheartened by the whole experience and not really sure what to do.
I guess I could always go back to my former industry but I really have grown to like the insurance industry and don't feel I've really had an opportunity to make a go of it.
I even interviewed with a couple of independent insurance companies that wouldn't touch me because I'm green (they want ONLY experienced agents WITH a book of business).
I honestly think I'd rather work for an independent insurance agency over a captive one because of the flexibility and options that pricing with multiple carriers bring.
Anywho....I don't really know what to do from here. There are not very many independent insurance companies in my area....and the 2 biggest ones I was able to find both said no to me.
Anyone got any good advice...?
Thanks for listening.