New State Farm Agent

[BShem08]

Been lurking around here a lot recently so I thought I'd reach out for a little help.

I have been working for State Farm for almost 2 years now. I just this past week accepted an agency position which I am extremely excited and ready for.

Ive looking for some advice that isn't just from someone with a State Farm mentality. I do very well with P&C, but my life&health numbers are lagging a little. Any advice?

 

[DHK]

Watch and study this series of Van Mueller presentation to State Farm reps. There's 8 of them.

 

[BShem08]

Thank you. I'm currently watching them as I type. I appreciate your time.

I see some State Farm negativity on some threads. Not the company itself, but the structure they have in place for their agents. I do have a vast knowledge of State Farm and insurance itself,but I really only talk to Staye Farm employees. I haven't gotten a diversity of opinion until I found this site. Anything I should be concerned with?

Would going the independent route be a more prudent decision?

 

[DHK]

I'm not in P&C, but my understanding is that to truly be independent, you must have experience. Might as well get it at State Farm since you're already there. I don't know what 'clusters' or anyone else looks for to determine 'experience', but it's needed so you can 'bind coverage' or something. Again, I'm not in P&C, but you need experience to be an independent P&C agent.

 

[Aiapa]

I am an independent agent and have been for years. I have direct appointments with many carriers and it works.
I was captive prior to becoming independent. Captive has its niche but independent is gaining market and I feel will continue to grow as captives shrink.

 

[Markthebroker]

I started out captive (State Farm) and went indi. I would never go back. I was very fortunate, because if you go indi, that's the best way to do it, start captive and then go independent. I focus on commercial and rarely write accounts for less than $10k, because that's the kind of business I focus on. No way I could do that at State Farm with their appetites.

 

[SueNami]

I started out captive (State Farm) and went indi. I would never go back. I was very fortunate, because if you go indi, that's the best way to do it, start captive and then go independent. I focus on commercial and rarely write accounts for less than $10k, because that's the kind of business I focus on. No way I could do that at State Farm with their appetites.

Mark- just a question- I have usually done smaller commercial accounts, and actually haven't focused on them at all for quite a few years... What does a $10k plus commercial account look like? (industry/vertical/size?)

 

[Markthebroker]

I have a very specific method I use. Basically if they own the building you are looking at more premium. And if they have commercial vehicles, it goes up again. If they have employees, that's a biggie.

So if I am talking to them one of the first things I ask is if they have employees. If they do, and it's an expensive class code, there is a very good chance it's a high premium account. If a business doesn't have employees, or I don't have any other indicators it's going to be a big one, I won't spend much time on it.

 

[Warrior]

Getting life sales is easy.
You must start with all those P&C folks you sold to. Create a video presentation and put it on the web via facebook. Why does someone need life insurance? The biggest reason is all of those folks we see getting a go-fund-me account to pay for funeral and medical costs for those loved ones who died suddenly. Life is by far the easiest conversation to have when you sell P&C. It is a part of your presentation when you get them to sign up for auto and home. Show illustrations and mail it to them to show how low the cost will be. Hold a seminar at the chamber of commerce. Pick out the age of those you want to sell to and create a male and female quote. Mail out these sample quotes to those neighborhoods with that demographic. Pit in your biz card and a life brochure.

 

[SueNami]

I have a very specific method I use. Basically if they own the building you are looking at more premium. And if they have commercial vehicles, it goes up again. If they have employees, that's a biggie.

So if I am talking to them one of the first things I ask is if they have employees. If they do, and it's an expensive class code, there is a very good chance it's a high premium account. If a business doesn't have employees, or I don't have any other indicators it's going to be a big one, I won't spend much time on it.

Thanks... this makes sense!