I’m considering becoming an Insurance Agent and American Family Insurance is one of many companies I have met with. I’m in the Seattle area and I’m having a tough time finding anything about what American Family is all about, I’m assuming it’s because AFI is relatively new in this market.
Here is what I know so far….
They open up a fancy office for you, give you a draw for staff and income (which you have to pay back in the back end). They want new agents to hit 100 policies after the first 9-10 months. I have heard that you work 65-75 hours per week for the first 1-3 years, AFI requires you to attend training and public events for marketing purposes.
I really would like to hear from anyone that has been though AFI, hear about their experience, good or bad. I’ve did a search and did not really come across anything on here. I would really appreciate any advice I can receive. Thanks!
Does this seem to fit what you have envisioned for yourself?
First impressions: It's transactional oriented (not necessarily a bad thing). IMO, You'll be competing on price. (Any website where you can request a quote will compete and die on price.)
How many other agents are in your area? Have you considered taking a few of them out to lunch to ask them about the company? (Websites are just so "one-sided" that you need to get a more in-depth look and perspective.)
Any franchise fees? Non-competes? What happens WHEN you leave your business? (Yes, you will leave your business due to termination (you or them), death, disabilty or retirement.) Who gets your clients/policy-holders?
It sounds like the "Edward Jones" for P&C agents to me. Just go into it with your eyes wide open.
I’m very green, so I’m not even sure I can answer all your questions.
This is what I know, AFI has territories for their Agents, my office would be the only office in the assigned city (dependent on the population).
I did talk to a former AFI agent, he left after two years. Obviously his take on the company was not very good or positive, however I have still very appreciative for his input. I’m hoping to meet with a few current agents this coming week to see what their take is on the company, Agent contact, etc.
Is being like “Edward Jones” for P&C a good thing or bad thing? Thanks!!
This advice will save you a lot of time, headache, money and heartache.
Are you ready?
If you're too green to answer the questions I posed for yourself, then you're too green to go into business without having completed a mentorship program.
You need to get started in an environment where you can learn, grow and make mistakes.
Is AFI a place for you to learn and grow? Possibly. That is a good question to ask them. (Hint: They will tell you "yes, they are". Probe deeper to find out what that really means.) Get a training schedule from them. Talk to a field trainer of some kind. Edward Jones is an investment firm and they appeal to newly licensed advisors as their training program is specific to those who are new to the industry.
You should ask them questions about marketing, prospecting, TRAINING, client service, their ideal target client, etc.
DHK,
Thanks for your insight, I am defiantly in the “research” process currently. One thing is for sure, I will not make any decisions before I have complete understanding of what I am getting into.
I do have an opportunity to work next to a successful Independent Agent which I plan to do, so I can get a feel for the business before making any decisions. If I do decide to pursue insurance, this is something I want to do for 25+ years, not something I just want to try.
As for training, I know AFI sends new agent through a two month program before opening up an office. I also have heard their continuing training/education is pretty intense and almost a burden (from a time commitment perspective).
I have reached out to as many people as I could in the industry and I will continue to before making my decision. I am very aware that the District Manager is pretty much a glorified cooperate recruiter.
Have you heard anything good or bad about AFI Agents? Or the company?
American Family Insurance Agent
Linear Mode
