Over 150.000 insurance professionals and consumers come to the Insurance Forum every month. Click here to register for FREE


Go Back   Insurance Forums > Insurance Agents and Brokers Forum > P&C Insurance Forum

Reply to Allstate Producer Compensation     
Old 10-04-2015, 06:47 PM   #1
New Member
 
Join Date: Oct 2015
Posts:1
State: decmammal is an Insurance Agent from
Allstate Producer Compensation Allstate Producer Compensation
I can't get on board with this and I would like to know if I'm being dumb.

Backstory: I've been Producing at an Allstate agency for six months and it's my first job in P&C. The job would work like this (when I accepted it):

$1,000 per month base
11% on all premium sold
No renewal commission
provide customer service on all accounts I sold
4 agency provided leads each day IF I cold called for 1.5 hours a day. This was supposed to generate 8 leads per day in theory.

Then three months into working there, the agent decided to stop buying internet leads and we had to get all of our leads cold calling. So now I'm doing all of my own lead generation through cold calling, doing all the customer service for the accounts I sold, reviewing accounts prior to renewal to ensure the best possible chance for renewal and calling them at renewal... Yet, I don't get paid on renewals...

Is this a normal practice at Allstate agencies? I know it's great for the agent because he has very little overhead, but it seems like the worst kind of deal for me. Am I expecting too much or should I be looking for a new job?
------------------------------------
  Reply With Quote to Allstate Producer Compensation
Old 10-06-2015, 08:12 PM   #2
Super Genius
 
Join Date: Aug 2013
Posts:239
State: BigSteve is an Insurance Agent from
Allstate Producer Compensation
You could either look for a new job now, or when the agent gets shut down for not hitting goals in the not too distant future. What state are you in?
------------------------------------
  Reply With Quote to Allstate Producer Compensation
Old 10-06-2015, 08:26 PM   #3
Guru
insurance1822 on Allstate Producer Compensation
 
Join Date: Feb 2010
Posts:1,622
State: insurance1822 is an Insurance Agent from Alabama
insurance1822 is a member of 1000 posts VIP club
Allstate Producer Compensation Re: Allstate Producer Compensation
ya bud that gig is up

------------------------------------
GO INDY OR GO HOME!
  Reply With Quote to Allstate Producer Compensation
Old 10-07-2015, 12:23 PM   #4
Guru
 
Join Date: Mar 2007
Posts:1,056
State: bobson is an Insurance Agent from Undisclosed Location
bobson is a member of 1000 posts VIP club
Allstate Producer Compensation Re: Allstate Producer Compensation
Originally Posted by decmammal View Post
I can't get on board with this and I would like to know if I'm being dumb.

Backstory: I've been Producing at an Allstate agency for six months and it's my first job in P&C. The job would work like this (when I accepted it):

$1,000 per month base
11% on all premium sold
No renewal commission
provide customer service on all accounts I sold
4 agency provided leads each day IF I cold called for 1.5 hours a day. This was supposed to generate 8 leads per day in theory.

Then three months into working there, the agent decided to stop buying internet leads and we had to get all of our leads cold calling. So now I'm doing all of my own lead generation through cold calling, doing all the customer service for the accounts I sold, reviewing accounts prior to renewal to ensure the best possible chance for renewal and calling them at renewal... Yet, I don't get paid on renewals...

Is this a normal practice at Allstate agencies? I know it's great for the agent because he has very little overhead, but it seems like the worst kind of deal for me. Am I expecting too much or should I be looking for a new job?
How can you provide service to accounts if you are supposed to be selling?
------------------------------------
  Reply With Quote to Allstate Producer Compensation
Old 10-07-2015, 12:29 PM   #5
Super Genius
 
Join Date: May 2013
Posts:84
State: dean8287 is an Insurance Agent from Undisclosed Location
Allstate Producer Compensation
I would have to think you can get a better deal than this almost anywhere you go.
------------------------------------
  Reply With Quote to Allstate Producer Compensation
Old 10-08-2015, 12:06 AM   #6
Super Genius
RicFlairII on Allstate Producer Compensation
 
Join Date: Jun 2014
Posts:88
State: RicFlairII is an Insurance Agent from
Allstate Producer Compensation Re: Allstate Producer Compensation
Very bad deal. When I was at Allstate I paid my secretaries more than
what you are making, and all they did was answer the phone.

You need to re-negotiate or leave.
------------------------------------
  Reply With Quote to Allstate Producer Compensation
Old 10-08-2015, 11:46 AM   #7
Guru
xrac on Allstate Producer Compensation
 
Join Date: Apr 2007
Posts:11,445
State: xrac is an Insurance Agent from Indiana
xrac is a member of 5000 posts Super VIP club
Allstate Producer Compensation Re: Allstate Producer Compensation
Run! I think your agent is probably a new agent and he is not going to make it. He is probably losing money which is why he stopped the leads.

------------------------------------
X
  Reply With Quote to Allstate Producer Compensation
Old 10-12-2015, 01:36 PM   #8
Expert
 
Join Date: Nov 2013
Posts:21
State: sellingny is an Insurance Agent from Undisclosed Location
Allstate Producer Compensation Re: Allstate Producer Compensation
Are you in NY by any chance...maybe near Rochester? I have 6 LSP's in the office now that are responsible for sales...and 2 CSR's that are responsible for all service, reviews, etc...

The LSP's average about $40k yr...the 2 highest producing are closer to $60k yr with their commissions.
------------------------------------
  Reply With Quote to Allstate Producer Compensation
Old 10-23-2015, 08:03 PM   #9
Super Genius
 
Join Date: Oct 2015
Posts:61
State: thecommercialguy is an Insurance Agent from
Allstate Producer Compensation Re: Allstate Producer Compensation
Did this have the rare fortune of at least having health insurance benefits for you to be employed there?
------------------------------------
  Reply With Quote to Allstate Producer Compensation
Old 10-27-2015, 10:17 PM   #10
Guru
 
Join Date: Aug 2013
Posts:320
State: rndz7 is an Insurance Agent from New Jersey
Allstate Producer Compensation Re: Allstate Producer Compensation
If you are happy, stay. If you are resentfull, move on. IMHO.
------------------------------------
  Reply With Quote to Allstate Producer Compensation
Reply to Allstate Producer Compensation 

  Insurance Agent Forum > Insurance Forums > Insurance Agents and Brokers Forum > P&C Insurance Forum


Tags
compensation




Similar Threads with Allstate Producer Compensation
Thread Thread Starter Forum Replies Last Post
Fair Compensation for Commercial P&C Producer? JMCS General Insurance Agent Discussions 0 06-17-2015 08:33 PM
Indy Producer Contract ewilkins General Insurance Agent Discussions 7 03-22-2013 04:18 PM
Arkansas on Producer Compensation Fees Crabcake Johnny Health Care Reform Forum 2 08-06-2012 07:16 PM
Medicare's New Rules midwestbroker Senior Insurance Forum 53 10-10-2008 10:37 AM
What types of producer compensation schemes are in use out there? Undercover P&C Insurance Forum 9 01-02-2008 10:57 AM



All times are GMT -5. The time now is 09:11 PM.

Forum enabled with vBulletin®
Copyright ©2000 - 2017, vBulletin Solutions, Inc.


Join the Forum - It's FREE

Share This Page



Weekly Poll

Where do we go from here? POLL
Nothing - No ACA fixes - status quo
29.82 %
HHS Rulings and band aid bills
17.54 %
Hail Mary repeal and/or replace bill
17.54 %
A bipartisan bill to fix ACA
35.09 %

Voters: 57. This poll is closed