Insurance Agent Forum

[Aydin]

I was a new CAPTIVE Agent assigned a big book in a small town, but they have opted to not offer me a permanent contract. I have two options that I am considering:

A)Open an Independent Agency in the exact same location. Through SIAA, I can obtain appointments with Citizens (Hanover Insurance), Encompass, Hagerty, The Hartford, Main Street America, Safeco, State Auto, Travelers and Progressive. On my own, I have arranged an appointment with Mass Mutual (Life, Annuities, Mutual Funds, 401K, 403B, etc…). As for Health, I think could go direct with someone like Humana or Golden Rule, but have not researched it yet.

B)Take over a Farm Bureau Agency in the next town over. I wouldn’t be Independent, but they are willing to provide me a small book of business.

I loved being an Agent and was good at it! There will be a learning curve, but that CAPTIVE has trained me.

Any thoughts would be much appreciated - Aydin

[wolverine50]

Well Aydin, I just got started with Farm Bureau last month. I've heard of many new recruits taking over books (wish I knew about that option when I interviewed). As far as being CAPTIVE, I would say it is probably the best option one is going to get right now.

On the other hand, depending on where you are at, we have been getting waxed by the competition on the P&C side. I mean like $500+/year on auto in some cases! Basically, FB doesn't want anyone who doesn't have top notch insurance score. I was foolish to think everybody is a prospect in P&C. In terms of targeting clients, It's like the Northwestern Mutual equivalent of P&C. The Farm is going up market apparently.

Now with that said, FB has great training, access to upper level management, and leadership opportunities. But, you just can't beat having the flexibility of being independent with various carriers at your disposal. In fact, I just got killed by Citizens at an appointment I just left tonight!

[Nazz Utopia]

As far as being CAPTIVE, I would say it is probably the best option one is going to get right now.

So what option are you recommending for him?
A = Independent via SIAA or B = Captive via Farm Bureau

You said that captive is the best option that one is going to get right now. Then at the end you say you can't beat the flexibility of being Independent and state that Citizens just killed you tonight.

Wolverine50, what option would you recommend?

As for you Aydin, what captive were you with?

[EDM]

Originally Posted by Aydin

I was a State Farm Agent, but can't decide if I should go with Farm Bureau or start my own Independent Agency.

What state are you in?