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Reply to Forming Independent Agency - Need Insight Into The Process     
Old 03-25-2014, 11:02 AM   #71
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State: CynthiaSperry is an Insurance Agent from
Forming Independent Agency - Need Insight Into The Process Re: Forming Independent Agency - Need Insight Into The Process
Originally Posted by moonlightandmargaritas View Post
You are wasting time.

He is right about ALL of it. It just depends if you have the wisdom to listen to it.

You are wrong. The barriers to entry ARE higher.

You strike me as the type that will keep asking questions until you get the answers that you want to hear...
I think you just need to know some answers. E&O coverage is expensive when you sell P&C (property and casualty) - more so than just E&O for life and health. Also - carriers that you want to be appointed with - they are going to have some commitment requirements - a certain volume of business is promised to get a contract with the carrier (standard ones, like Hartford). You can go to a broker (E&S is what we used to call them) and get to the major carriers without a commitment of so much premium volume, but the commission is a lot lower. There's a little of why it's difficult to start up your own agency rather than work for a large agency. One other factor - a good agency is going to spend quite a bit of money on computer programs/software/etc.... that's also difficult to do when you are starting out. If you are someone who has a lot of money to live on until the agency gets up and profitable, you can do it. Just remember, there are a lot of costs involved the first few years of opening up your insurance agency!
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  Reply With Quote to Forming Independent Agency - Need Insight Into The Process
Old 10-28-2014, 12:22 PM   #72
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State: ssurgener is an Insurance Agent from Missouri
Forming Independent Agency - Need Insight Into The Process Re: Forming Independent Agency - Need Insight Into The Process
I am interested in finding out more about being an independent agent. I have talked with a group that offers many lines to write with but I would like more information. I'm hoping to find a company that represents, Safeco, Metlife, Geico, Progressive, etc. Any ideas?
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Old 10-28-2014, 01:40 PM   #73
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shawnmwalker on Forming Independent Agency - Need Insight Into The Process
 
Join Date: Jun 2013
Posts:799
State: shawnmwalker is an Insurance Agent from Undisclosed Location
Forming Independent Agency - Need Insight Into The Process Re: Forming Independent Agency - Need Insight Into The Process
SS,

No group will be able to give you access to Gieco. It is a captive or Direct carrier.

Most other carriers should be no problem for most groups to get you.

Of the four things you need to consider carrier Alignment or the Carrier access is the easiest one to figure out. The follow up questions to carrier alignment:

How do you get me access? House code or Own codes.
Commercial access. (Some groups struggle wit this.)
Name on the Ins Company paperwork.


Hope you find the right group for you. If you need help exploring your options call me If you have not already.

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Regards,


Shawn M. Walker
Vice President
Premier Group Insurance
www.PGIAgents.com
720.335.3799
Captive: Prisoner
Independent: Freedom

Last edited by shawnmwalker; 10-28-2014 at 01:46 PM.
  Reply With Quote to Forming Independent Agency - Need Insight Into The Process
Old 11-26-2014, 12:56 AM   #74
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State: fiber2345 is an Insurance Agent from
Forming Independent Agency - Need Insight Into The Process Re: Forming Independent Agency - Need Insight Into The Process
Dear

I am new agent and like to start as an independent through IMO. I saw your message in the forum and hence the following question. I would like to know how much it costs to join creativeone IMO. Also any other info would be helpful.

Thanks & Regards
Ramesy
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  Reply With Quote to Forming Independent Agency - Need Insight Into The Process
Old 03-15-2016, 09:16 PM   #75
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State: newbie1219 is an Insurance Agent from Virginia
Forming Independent Agency - Need Insight Into The Process Re: Forming Independent Agency - Need Insight Into The Process
Good evening and Thank you for allowing me to participate in this forum.
I am a new agent, having begun with one insurance company as part time. Yes, I do understand that this industry is not all part time, however, I asked my questions and was originally appointed.
About a week ago, I received my letter that stated that my appointment was terminated due to ( as the manager told me), I was not working full time.

Now, fast forward to this week and I have had four requests for interviews, and have gone to one interview and the open house for that particular company.

My question is this: the first company was captive, this one is non- captive and definitely has part time position. For a new agent, would non-captive be a much better start into the industry?

Thank you
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Old 03-18-2016, 07:32 AM   #76
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bboman23 on Forming Independent Agency - Need Insight Into The Process
 
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Forming Independent Agency - Need Insight Into The Process
Originally Posted by newbie1219 View Post
Good evening and Thank you for allowing me to participate in this forum.
I am a new agent, having begun with one insurance company as part time. Yes, I do understand that this industry is not all part time, however, I asked my questions and was originally appointed.
About a week ago, I received my letter that stated that my appointment was terminated due to ( as the manager told me), I was not working full time.

Now, fast forward to this week and I have had four requests for interviews, and have gone to one interview and the open house for that particular company.

My question is this: the first company was captive, this one is non- captive and definitely has part time position. For a new agent, would non-captive be a much better start into the industry?

Thank you
Don't take any interview until you search for them here.

Stay away from the bad ones. ...
Lincoln Heritage
Bankers Life
Senior Life
NASB
PrimeMerica
One Life
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  Reply With Quote to Forming Independent Agency - Need Insight Into The Process
Old 03-19-2016, 03:16 PM   #77
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State: newbie1219 is an Insurance Agent from Virginia
Forming Independent Agency - Need Insight Into The Process Re: Forming Independent Agency - Need Insight Into The Process
Thank you for that insight!


Unfortunately, Bankers was the first one, Lincoln Heritage, I haven't heard from.

I will check the list. I have two more that I have interviews with and I am wondering if it is worth my keeping my license!

Thanks again!
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Old 03-19-2016, 03:33 PM   #78
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bboman23 on Forming Independent Agency - Need Insight Into The Process
 
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Forming Independent Agency - Need Insight Into The Process
Originally Posted by newbie1219 View Post
Thank you for that insight!

Unfortunately, Bankers was the first one, Lincoln Heritage, I haven't heard from.

I will check the list. I have two more that I have interviews with and I am wondering if it is worth my keeping my license!

Thanks again!
Shoot me your number in email and I can chat with you. You're really going to regret it if you sign with any of these places.

[email protected]

  Reply With Quote to Forming Independent Agency - Need Insight Into The Process
Old 06-20-2017, 06:31 PM   #79
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State: wanderer is an Insurance Agent from
Forming Independent Agency - Need Insight Into The Process Re: Forming Independent Agency - Need Insight Into The Process
This is my first Post, I am currently in a group that sells "Motgage Protection" Term, and Final expense. You are supposed to build a downline. All that is ok, however I would just like to find a good company where commissions are not 55%, and you buy your own leads, good ones are $30, I just happened to find this forum, and I am seeing 75% to 100% commissions. I would just like to sell and not spend half the time recruiting strangers. any suggestions would be helpful. Thanks
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