Starting Out in the Industry. Where to Begin? SOME Ideas..

[Tseng2394]

Hello everyone, looking to get begin my journey in the insurance industry. Kind of stuck as to where I should begin. Lets start with a little background about me. The highest level of education I have received is a high school diploma. I'm currently taking non-credit business courses at a local college as I believe that could be very beneficial in this industry. I went and got a license in Personal Lines thinking it would be a cake walk to go INDY. Little did I know I still have A LOT to learn.

My question for you guys is how should I approach the beginning stages of insurance? I've searched for local agencies hiring agents but I don't think I'm searching correctly. Also, I've looked at the Farmers agent program and after further reading into that I definitely will NOT be considering them. I'd like to find work in the Philadelphia area, I live in center city so I do believe there are many places to choose from, but maybe I just need someone to point me down the right path as to where I should start looking.

Some other places that I have found some interest in are Travelers and State Farm. Not sure if one is better than the other to begin with. I guess I just need to know where is good to receive training for someone starting out in the industry.

I have a resume prepared.

Any help is greatly appreciated.
Thank you!

 

[PhilL]

Tseng, I would be glad to give you some thoughts. Feel free to contact me.

 

[mboone]

Hello I am a new P&C agent and looking for advise how to get into the industry..

 

[shawnmwalker]

Well you have a decision tree here. I'll lead you down one path, but it is biased.

"Begin with the end in mind"- 7 habits of Highly effective people.

Decision #1:

What end of the Ins Spectrum do you want? if you answered P&C keep reading. If ''Other" wait for the others to respond

Decision #2: Captive or Independent.

Captive:
Pro: They will teach you a lot but inevitably you will go Indy at some point in your career. Another Pro, they will subsidize your life for a time.
Con: The District Manager will push too hard or force life on you or cut your commissions or change your contract, or, ext, ext. Your Captive will take rate increases and kill your production and you will have one price point while others dissect your book one policy at a time.

Independent: :
Pro: Control expenses. Get higher commission. Higher conversion. Higher retention. All of those factors equal more money.
Con: Starting out. Getting knowledge. Your personality type could sink yourself.

Decision #3:

Once you decide Indy is for you, in the next week or 22 yrs from now. The question will be how to do it. Your options include:

Buy an agency.
Join a group.
Become a producer for an agency.
Get direct appointments.
Get an agency that provides the back end service so you can hunt full time.

You decide which one is best for you.


Decision #4: What group should I join?

There are a lot. Consider the following. NOT ALL GROUPS ARE CREATED EQUAL! They range from good, better and best.

Any group claiming to be best of class should provide the following:
1. Transparency
2. Training and support
3. Carrier Alignment
4. and a great Contract
Give me a call, shoot me am IM. Good luck and have fun with your choices.

I have been in Insurance for 13+ years and the great thing in this industry is you can choose to never stop learning. Your learning curve is never ending. Meaning you will never get board.

----------

Phil,

Did the Gent speak with you. People, Phil has some sound advice to give.

 

[thomasm]

Once you decide Indy is for you, in the next week or 22 yrs from now. The question will be how to do it. Your options include:

Buy an agency.
Join a group.
Become a producer for an agency.
Get direct appointments.
Get an agency that provides the back end service so you can hunt full time.

The last option...what agencies do that?

 

[shawnmwalker]

Lots do, but they take a HUGE chuck of your commissions to do it.

 

[PhilL]

Lots do, but they take a HUGE chuck of your commissions to do it.

Absolutely. This is an important point to evaluate when considering career options involving any Agency Network Groups. How much of your money are you willing to compromise for what you will be getting in return? Some of the Agency Network Groups out there give you a lot for the commission splits they take and they let you keep more as you develop profitable premium. Ask questions about what is provided for Members - training, systems support, etc. Get solid answers. No vagueness. The better Agency Network Groups - like Premier - will give you all the upfront information you need to do your evaluation and make your decision, if you decide to go this route to get started.

 

[heathercmg]

Well you have a decision tree here. I'll lead you down one path, but it is biased.

"Begin with the end in mind"- 7 habits of Highly effective people.

Decision #1:

What end of the Ins Spectrum do you want? if you answered P&C keep reading. If ''Other" wait for the others to respond

Decision #2: Captive or Independent.

Captive:
Pro: They will teach you a lot but inevitably you will go Indy at some point in your career. Another Pro, they will subsidize your life for a time.
Con: The District Manager will push too hard or force life on you or cut your commissions or change your contract, or, ext, ext. Your Captive will take rate increases and kill your production and you will have one price point while others dissect your book one policy at a time.

Independent: :
Pro: Control expenses. Get higher commission. Higher conversion. Higher retention. All of those factors equal more money.
Con: Starting out. Getting knowledge. Your personality type could sink yourself.

Decision #3:

Once you decide Indy is for you, in the next week or 22 yrs from now. The question will be how to do it. Your options include:

Buy an agency.
Join a group.
Become a producer for an agency.
Get direct appointments.
Get an agency that provides the back end service so you can hunt full time.

You decide which one is best for you.


Decision #4: What group should I join?

There are a lot. Consider the following. NOT ALL GROUPS ARE CREATED EQUAL! They range from good, better and best.

Any group claiming to be best of class should provide the following:
1. Transparency
2. Training and support
3. Carrier Alignment
4. and a great Contract
Give me a call, shoot me am IM. Good luck and have fun with your choices.

I have been in Insurance for 13+ years and the great thing in this industry is you can choose to never stop learning. Your learning curve is never ending. Meaning you will never get board.

----------

Phil,

Did the Gent speak with you. People, Phil has some sound advice to give.

Hi Shawn,
Do these groups like yours, help start-ups? I am in SC and have never sold insurance before. I would like to sell auto insurance only, as I have a friend who has car lots and is consistently sending his customers out to get insurance. Thanks for any info-Heather