I Am Thinking of a Career in Insurance

anthonyj · 03-09-2009, 07:07 PM

I have been a Realtor for 3 years now, but after meeting with an auto insurance agent who is an independent and switching my Home and Auto with him it has got me thinking about the possibility of a career change. But I have questions about the Nuts and Bolts of the business and hope someone could help.
How does the commission work (home and auto)
Is independent better
What kind of split does the company take
Are there good lead generation systems out there I am not opposed to Cold call.
What type of volume would I have to do to make 100,000???
THANKS!

DJM · 03-09-2009, 07:42 PM

I dont know a whole lot on the P&C side, ( im a life health guy) but I do know that it is very difficult to just start up an agency independent and get appointed by carriers. From what I have been told, they want production numbers and such before they appoint you. Also, the E&O for P&C is more expensive. It IS ALOT OF HARD WORK, long days. You bust your ass, but there are rewards. If you enjoy helping people, and dont mind doing that 10-12 hours a day, then this could be the field for you.

Chris_Himself · 03-10-2009, 12:38 AM

Originally Posted by anthonyj

are there good lead generation systems out there I am not opposed to Cold call.

We use Netquote and InsureMe. Both have performed splendidly in the past and from what I can see with my 1 week of experience. Each team member has been writing 1-2 autos a day, 1 life a week, solely from internet leads.

I wouldnt be too optimistic about starting your own agency if you prefer stability in your life. Im sure the others will chime in.

jdgeddie · 03-10-2009, 06:11 AM

Your best bet is likely to go with a captive company like StateFarm, AllState, etc. They'll give you formal training that you wouldn't likely receive in an independent environment.

FLBRoKER · 03-13-2009, 03:25 PM

Originally Posted by jdgeddie

Your best bet is likely to go with a captive company like StateFarm, AllState, etc. They'll give you formal training that you wouldn't likely receive in an independent environment.

Agreed, but your best bet (and smartest move) is to eventually make the move to independent. That's where the true potential is.

thespur1 · 03-13-2009, 08:35 PM

I think you would fit in perfectly if you were a realtor
Same kind of thing here in insurance

xrac · 03-13-2009, 08:46 PM

Originally Posted by anthonyj

I have been a Realtor for 3 years now, but after meeting with an auto insurance agent who is an independent and switching my Home and Auto with him it has got me thinking about the possibility of a career change. But I have questions about the Nuts and Bolts of the business and hope someone could help.
How does the commission work (home and auto)
Is independent better
What kind of split does the company take
Are there good lead generation systems out there I am not opposed to Cold call.
What type of volume would I have to do to make 100,000???
THANKS!

You and 50% of the realtors and 75% of the mortgage brokers in the U.S. are switching to insurance!

thespur1 · 03-13-2009, 08:47 PM

Wow not good for us
Flooded with competition

Markingriffin · 03-15-2009, 11:39 AM

I have seen a lot of realtors switching over to insurance lately.

Mi_Panic · 03-17-2009, 10:32 AM

It is pretty common for realtors or those with a financial background t transition into something like insurance when the market buying homes is doing so poorly.