Getting Started in the Insurance industry

[MTyner]

Well, to be honest, the mixture of negative and positive posts in this thread are pretty appropriate and indicative of the business. There are strong positives and negatives of both captive and indy.

Personally, I think that starting indy has too many risks, both for an agent and their clients. There's a great deal to learn, and trying to learn it all by trial and error is asking for trouble.

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Personally, I think that its up the the individual. Some people learn better when messing up a bunch. Some couldn't deal with the "Kool-Aid". Its up to that individual i guess.

 

[moonlightandmargaritas]

I have been offered captive positions with Allstate and State Farm-but I do not like the captive mode-You dont own anything...

Believe you're mistaken...with SF you don't own your BOB, but with Allstate you do.

 

[RyanCO]

Personally, I think that its up the the individual. Some people learn better when messing up a bunch. Some couldn't deal with the "Kool-Aid". Its up to that individual i guess.

I agree in general, but we're dealing with people's lives and money here. Put someone into the wrong product and you've probably caused long term problems, if not worse. Not knowing enough about the various product options can make you miss an opportunity to really help someone (and yourself, for that matter). Not knowing a system can make a deal take much longer for the client, or cause it to fall through. That's just three examples.

The school of hard knocks is valuable, but doing it at the expense of a client's money is too dangerous for me, bordering on unethical. Now, regarding your point about drinking the Kool Aid, yeah -- that can definitely be the toughest part.

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[happypyka]

I spent 6 months as a State Farm agent intern and then one long year as a captive Allstate agent (back when I though bigger was better).
I am 2 1/2 year in to my scratch independent agency (happily).
I would stay away from Allstate. If you go captive you can't do any better than with State Farm. Best training/support as long as you are willing to drink the Kool-Aid. Just make sure to get a book of business and pass on the start from scratch model.
If you are interested in the independent model I'd go to work for an independent agency that is 20-30 miles away from where you would like your agency to be. That's a better way to learn the business of selling insurance/managing an agency. Join and be involved with agency associations (PIA for one). You will make great connections and learn, learn, learn.
When you are ready to start on your own forget the office expense and work from your home. Find one competitive carrier to give you an opportunity (have a great business/marketing plan) & Progressive. Work your behind off and after a year you have a track record to get other appointments if needed.
That's my two cents. Good luck!

Thanks superdave, do you happen to know any independent agency or association I may join to get started in induatry? Thanks for great advise. Send me a pm or email me at [email protected].

 

[mjgdiversified]

Believe you're mistaken...with SF you don't own your BOB, but with Allstate you do.

you really don't own your book with allstate either.You have to sell it to an allstate approved buyer( states right in the docs they retain the rights to the book) or take their TPP-after 5 yrs-WHICH IS A JOKE. I do agree this is a better altenative than state farm,but your really not an independent business,your an employee at the mercy at every compensation change No benefit

 

[happypyka]

Hello everyone,
I've been reading these posts for some time and absolutely love to what professionals and newbies are saying. This forum is great and all you guys make it better.
I'm currently in a position of wanting to change careers and became real interested in insurance industry, in particular P&C. I've been looking to join any agency for some time now, and I'm looking to join existing agency and just to work hourly if possible. Idea came to me if one of the more experienced agents could start a thread for agency's that are hiring and in which state, with what requirements. Please, please help people like me to change the course of our lives from dead end, meaningless jobs to something that will bless our families and essentially this country.
Thanks you guys for reading.

 

[insuranceforu]

Greetings Everyone,
I am just getting my 2-15 in Florida and was looking for advise about which agency would be the best to start with. I have some sales experience, but would like to learn the insurance industry the right way and be able to grow.
Thank all of you in Advance.

 

[HelpThemOwnIt]

First Step: Finding a Successful Mentor to Follow

Hi All;
Found a potential mentor/teacher who, according to many, is 'ridiculously knowledgeable', disciplined, connected, and a seasoned insurance firm owner.

Sounds like the right criteria to me; will drop the forum a line to advise on the status after our meeting.

 

[latunle1]

Check your messages. I sent you a PM

Yes I live in Texarkana, on striding now for my insurance license. I'm not with a company yet but when I do I probably won't be working In a office or for just one company.How long have you been in the business? Any advice on taking the test?

 

[RBHAGENT]

Hello, I'm new in the industry and just got licensed in Georgia. Any info about the best company to work for as an independent is appreciated. tbohannon3900atgmaildotcom thanks

You probably want to be careful throwing your email out there...a lot of people will try and recruit you quick and give you a super size koolaid!! Just keep in mind no agency is the best and you need to do some solid research before you make a decision. Keep reading through this site and you will get some great feedback on most companies out there.