Over 150.000 insurance professionals and consumers come to the Insurance Forum every month. Click here to register for FREE

Go Back   Insurance Forum > Insurance Agents and Brokers Forum > General Insurance Agent Discussions

Reply to Becoming an AllState Agent, Should I Do It?     
Old 10-14-2011, 07:55 PM   #1
New Member
 
Join Date: Oct 2011
Posts:2
State: newkidontheblk is an Insurance Agent from Undisclosed Location
Becoming an AllState Agent, Should I Do It? Becoming an AllState Agent, Should I Do It?
I was contact by an AllState Recruiting Officer. I am seriously thinking of becoming either a scratch agent for them or I might just buy the book. I will have to go through their training either way. The problem is I don't know anything about this business and I am afraid to fail again. I was in the IT industry for 20 years. I left to open a medical spa but then the economy went south and I had to sold it. Since then I have been looking for another career that I can work for the next 10 to 15 years. I was hoping this opportunity might be it...although I am not vert certain. I have done some homework and the more I read the more I bcome skeptical about the whole thing. Since my husband makes decend money for both of us to live on, I don't really need to make money right away, although it would be nice if I could. In this economy, should I pursue to become an AllSate agent whether as a scratch agent or if I just buy the book? We don't have a whole lot of money to spare so I am going to buy the book I was thinking of starting out with a book that has about 1.1 million in premium. If you think buying the book is the way to go, how much should I offer for a book that has about 1.1 million in preminum and about 90 in retain rate and 50% for loss? What else should I look at in the book? Like I said, this is all new to me and I would appreciate any help that I can get. This is also my first day being on this forum. Thanks again.
------------------------------------
  Reply With Quote to Becoming an AllState Agent, Should I Do It?
eZLynx Banner New 1
Old 10-22-2011, 12:28 PM   #2
Guru
 
Join Date: Feb 2010
Posts:276
State: insurance1822 is an Insurance Agent from Alabama
Becoming an AllState Agent, Should I Do It? Re: Becoming an AllState Agent, Should I Do It?
No.

Do not consider Allstate.

I can write a book on this, please listen to this warning. You do not want to start a career with Allstate. Expected results, massive rate increases, stock doing horrific, mandatory life numbers, staffing numbers.....listen....please....PLEASE.....Politel y thank the recruiter for the information and be on your way.
------------------------------------
  Reply With Quote to Becoming an AllState Agent, Should I Do It?
Old 10-22-2011, 01:03 PM   #3
Guru
Josh on Becoming an AllState Agent, Should I Do It? - Insurance Forum
 
Join Date: Jan 2009
Posts:10,628
State: Josh is an Insurance Agent from Virginia
Josh is a member of 5000 posts Super VIP club
Becoming an AllState Agent, Should I Do It? Re: Becoming an AllState Agent, Should I Do It?
I, along with many others, have had or are having a good time at Allstate.

Allstate is not for everyone and you will have pressure to hit certain numbers, but they're not unrealistic. You're going to need a marketing plan and you're going to need to wake up every morning ready to push it out.

If you don't need to make a ton of money at first and you can take most or all of your profit and stick it into marketing to grow your book, that's actually an ideal situation.

Buying a book, to me, makes a lot of sense, especially if it's large enough to already have it's own established support staff. As far as what you should pay for the book, you should probably talk to some other Allstate agencies in the area and see what they think about it and the book. They can also be a great resource when it comes to helping you get started.

Again, Allstate isn't for everyone, but for the right folks it's a great opportunity to take advantage of national branding, excellent training, great support, and excellent bonus potential.

------------------------------------
UNLIMITED telemarketing lists for $50/month
Great for generating HOT leads for Medicare, Auto, Health, Life, and more!
www.ListShack.com
888-905-3282
Get a free cold calling eBook here!
  Reply With Quote to Becoming an AllState Agent, Should I Do It?
Old 10-22-2011, 01:06 PM   #4
Guest
 
Posts:n/a
State: Guest is an Insurance Agent from
Becoming an AllState Agent, Should I Do It? Re: Becoming an AllState Agent, Should I Do It?
besides finding the right situation, what makes you think you are a good salesperson?

Can you walk up and talk to strangers, can you speak in front of people you dont know? Can you BS with "any type of person"?

There is alot, mainly the your type of personality, to being a salesperson.....

You could be in the best situation, but if you are shy, not out-going, etc, it wouldnt be a good fit for you personally.
------------------------------------
  Reply With Quote to Becoming an AllState Agent, Should I Do It?

Register Now for FREE!
To sign up for your FREE INSTANT account, please complete the form.

Username:
    Password:   Confirm Password:     E-Mail:   Confirm E-Mail:     
   
Question of the day:   Type the result for 11 x 3 I agree to forum rules 


Old 10-28-2011, 08:44 AM   #5
New Member
 
Join Date: Oct 2011
Posts:1
State: Toman is an Insurance Agent from Undisclosed Location
Becoming an AllState Agent, Should I Do It? Re: Becoming an AllState Agent, Should I Do It?
I opened a scratch agency 15 months ago and if what I knew now, I knew then, I would NOT do it. Lots of Blue sky promises and projections. Terrible training with little or no support. Technology is very old and crashes often, very unreliable. Contract is basically unilateral. They can change whatever they want when they want. Turn over very high. 33% in my area lasted less than 12 months. It looks like another 33% or more will go in the second 12 months. Morale very low with Tom Wilson running the company. The focus is on making a quick profit for the shareholders. Pulling contracts from 20 and 30 year agents that have been very successfull and built good agencies, but lacked current production. No loyalty. My local management is incompetent and only lead or manage in the best intererst of their bonuses and "expected results."

My advise if you don't take the advise of the first response, would be to work in an agents office for at least 6-12 months so you might see a little reality. I only survive by working 80-90 hour weeks every week.
------------------------------------
  Reply With Quote to Becoming an AllState Agent, Should I Do It?
Old 10-28-2011, 09:25 AM   #6
Guru
xrac on Becoming an AllState Agent, Should I Do It? - Insurance Forum
 
Join Date: Apr 2007
Posts:10,701
State: xrac is an Insurance Agent from Indiana
xrac is a member of 5000 posts Super VIP club
Becoming an AllState Agent, Should I Do It? Re: Becoming an AllState Agent, Should I Do It?
Allstate agent group votes to align with union | Reuters

Sounds like a happy group of agents.

Have you been here and read what they have to say?
New Agent Center | National Association of Professional Allstate Agents, Inc.

------------------------------------
X

Last edited by xrac; 10-28-2011 at 09:43 AM.
  Reply With Quote to Becoming an AllState Agent, Should I Do It?
Old 10-28-2011, 10:00 PM   #7
Guru
 
Join Date: Jun 2010
Posts:1,079
State: Bertolinoins is an Insurance Agent from Undisclosed Location
Bertolinoins is a member of 1000 posts VIP club
Becoming an AllState Agent, Should I Do It? Re: Becoming an AllState Agent, Should I Do It?
State Farm and Liberty Mutual are the only direct writers I would consider working for if I were starting out all over again.
------------------------------------
  Reply With Quote to Becoming an AllState Agent, Should I Do It?
Old 10-28-2011, 10:05 PM   #8
Guru
xrac on Becoming an AllState Agent, Should I Do It? - Insurance Forum
 
Join Date: Apr 2007
Posts:10,701
State: xrac is an Insurance Agent from Indiana
xrac is a member of 5000 posts Super VIP club
Becoming an AllState Agent, Should I Do It? Re: Becoming an AllState Agent, Should I Do It?
Based upon what I know scratch State Farm.

------------------------------------
X
  Reply With Quote to Becoming an AllState Agent, Should I Do It?
Old 10-28-2011, 10:13 PM   #9
Guru
 
Join Date: Oct 2010
Posts:383
State: CaptiveGuy is an Insurance Agent from Maryland
Becoming an AllState Agent, Should I Do It? Re: Becoming an AllState Agent, Should I Do It?
Yup, with Liberty you are a W2 employee with benefits and you don't pay any of the overhead. They pay for you to get licensed, your laptop, business cards, marketing etc. You get a base salary and decent new business commission but the renewals are round 1-2%. Good place to learn for free with no investment then make your way to freedom as an independent agent.

I would recommend Liberty Mutual or working UNDER a captive or indepdent agent. Allstate agents are running to be IA I hear from my marketing reps.
------------------------------------
  Reply With Quote to Becoming an AllState Agent, Should I Do It?
Old 10-29-2011, 03:50 PM   #10
Super Genius
 
Join Date: Oct 2007
Posts:104
State: fjman is an Insurance Agent from Undisclosed Location
Becoming an AllState Agent, Should I Do It? Re: Becoming an AllState Agent, Should I Do It?
I spent some time with them and I wouldn't recommend it. Even those that have very strong marketing plans struggle to hit their targets and I was working in an affluent marketplace. Owners with 10-20 years with them are being forced to sell and within a short period of time. Otherwise, you have to accept Allstate's pathetic buyout amount (and not even in a single lump sum!)

My impression is that they are quietly working toward a more geico - like business model (ie, telephone reps).
------------------------------------
  Reply With Quote to Becoming an AllState Agent, Should I Do It?
Reply to Becoming an AllState Agent, Should I Do It? 

  Insurance Agent Forum > Insurance Forum > Insurance Agents and Brokers Forum > General Insurance Agent Discussions




Similar Threads with Becoming an AllState Agent, Should I Do It?
Thread Thread Starter Forum Replies Last Post
Allstate Agency kavedoggie Getting Started Selling Insurance 48 09-05-2014 03:16 PM
Allstate to Reduce Comp 20% and Jettison Small Agencies padthaiforlunch P&C Insurance Forum 19 11-03-2011 10:16 PM
Looking at Allstate in Nebraska brnblkly Getting Started Selling Insurance 1 09-30-2010 11:07 AM
Allstate Approval Process Boston General Insurance Agent Discussions 3 06-26-2009 04:01 PM
Disability Insurance Problem with Allstate Naples Insured Individual Health Insurance Forum 8 01-26-2009 11:09 AM



All times are GMT -5. The time now is 03:08 PM.

Forum enabled with vBulletin®
Copyright ©2000 - 2014, vBulletin Solutions, Inc.


Join the Forum - It's FREE

Share This Page



Weekly Poll

What is your main strategy for growing your insurance business ?