Farmers Insurance to Cut Commissions and Increase Bonus.

[Warrior]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

I currently jumped the Farmers Ship because of all the Kool Aid they try to get us to drink. I decided to go IA.
I am curious about what the Big I is. Are they a company that will allow me to quote and write insurance through the big companies?

Are there other aggregators that are affordable? MIAA (SIAA) are very pricey. $9500 to join, $350 per month for membership fees 15 Year contract.
I want an aggregator that lets me have direct carrier contact. Not go through a 3rd party to quote.

 

[insurance1822]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

So an Indy doesn't have to deal with commission cuts, profit bonus adjustments and Underwriting changes?! Oh wait, they can just roll their ENTIRE book over to another carrier for the same/less commission... oh and they have to be competitive or you'd lose business on the transfer.

Doesn't matter if you're Captive or Indy anymore. The industry is shrinking Agents and going to incentivize differently to stay competitive.

Why the hell would you sell your bob anyways? Get 2x revenue or sit on it for 5 to get more money.

Yes, we do deal w/ commission cuts, but here's how we do. Safeco & Travelers cut commissions, so in turn I simply no longer write them (unless they're killing the competition which is rare.) I leveraged those commission cuts & desire to maybe roll those books to get an appointment w/ the best super regional in the area. That super regional (and most companies..) will assist in massive ways if you want to roll the book. But, I don't need to roll the book. My books are big enough that reps do NOT want to lose the business & I'm part of a hugely successful network so the power is in our hands. I have options....countless options.

I don't buy internet leads. I live off endless customer referrals for how much we save people & how much I save my COI's clients. I'm not beholden to one carrier who steers my ship. The captive situation is 100% indisputably a worse off setup compared to being an IA. I know that you know this.

I was part of one of THE most successful captive agencies. I saw the writing on the wall (even being a massively successful captive.) I went to all the honor ring conferences & hall of fame dinners & rubbed shoulders with massively successful captive agency owneres over the years.

It was clear what I needed to do, and I did it. Open your IA now or Farmers will eventually ruin you.

 

[todd02]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

Yes, we do deal w/ commission cuts, but here's how we do. Safeco & Travelers cut commissions, so in turn I simply no longer write them (unless they're killing the competition which is rare.) I leveraged those commission cuts & desire to maybe roll those books to get an appointment w/ the best super regional in the area. That super regional (and most companies..) will assist in massive ways if you want to roll the book. But, I don't need to roll the book. My books are big enough that reps do NOT want to lose the business & I'm part of a hugely successful network so the power is in our hands. I have options....countless options.

I don't buy internet leads. I live off endless customer referrals for how much we save people & how much I save my COI's clients. I'm not beholden to one carrier who steers my ship. The captive situation is 100% indisputably a worse off setup compared to being an IA. I know that you know this.

I was part of one of THE most successful captive agencies. I saw the writing on the wall (even being a massively successful captive.) I went to all the honor ring conferences & hall of fame dinners & rubbed shoulders with massively successful captive agency owneres over the years.

It was clear what I needed to do, and I did it. Open your IA now or Farmers will eventually ruin you.

You ignored the question. Why sell a insurance book. Makes no sense at all. Hire a CSR and ride out the cancelations.

 

[insurance1822]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

You ignored the question. Why sell a insurance book. Makes no sense at all. Hire a CSR and ride out the cancelations.

ya no duh of course I'm not selling.

#snakeoil

 

[todd02]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

ya no duh of course I'm not selling.

#snakeoil

#110outof125FarmersAgentsPurchasedIn2weeks.

#JustWaitUntilYouSeeItForIndys

 

[insurance1822]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

#110outof125FarmersAgentsPurchasedIn2weeks.

#JustWaitUntilYouSeeItForIndys

what does it cost>?

 

[whatyouwantfinally]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

#110outof125FarmersAgentsPurchasedIn2weeks.

#JustWaitUntilYouSeeItForIndys

A few days ago it was 50 in 2 weeks...?

 

[insurance1822]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

A few days ago it was 50 in 2 weeks...?

Since this fraud found these forums, his numbers have never stood the test. He's a fraud.

 

[insurance1822]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

It's called 3 district managers invited all their agents to a major launch meeting. Over 100 attendees.

Any email I get from any territory rep gets immediately deleted.

 

[todd02]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

Since this fraud found these forums, his numbers have never stood the test. He's a fraud.

#ImAFraudWhoRidesUnicornsWithSnakeOil

#CashMeOutSideIns1822

My board of directors and VC might otherwise disagree with your statement.