Looking at Joining the P&C Club. Please Advise

Withsomeluck

New Member
6
I have recently been investigating getting an insurance license. I have been looking for a sales option that allows me to build relationships and offer something of value to others while also making money myself.

Initially I was looking into life and health but life seems more about selling and moving on and health seems to be muddled and have an unclear short-term future.

I'm hoping some of you who have been working in the P&C marketplace for awhile could give me some insights into what I can expect starting up. From what little I understand I need to license myself and probably find an agency that will take me time and get me trained up a bit while I work for them for a few years. What I am primarily concerned with is finding someone that will take the time to properly mentor me.

I realize most of you are very busy so I truly appreciate any information you are willing to share. I will also continue looking through these forums (just joined) so please feel free to link any relevant posts.

Thanks Again,
jeremy
 
I have recently been investigating getting an insurance license. I have been looking for a sales option that allows me to build relationships and offer something of value to others while also making money myself.

Initially I was looking into life and health but life seems more about selling and moving on and health seems to be muddled and have an unclear short-term future.

I'm hoping some of you who have been working in the P&C marketplace for awhile could give me some insights into what I can expect starting up. From what little I understand I need to license myself and probably find an agency that will take me time and get me trained up a bit while I work for them for a few years. What I am primarily concerned with is finding someone that will take the time to properly mentor me.

I realize most of you are very busy so I truly appreciate any information you are willing to share. I will also continue looking through these forums (just joined) so please feel free to link any relevant posts.

Thanks Again,
jeremy

You seem to have the right idea. A modern-day apprenticeship if you will. If you get your license on your own, your options for agencies willing to interview should open up. But that said, it'll just take some interviews and your own (hopefully good) judge of character and how they run their business to determine if they'll be a good mentor or not.

My path started by working for GEICO in the sales department. It's high volume call center stuff that you'd expect, but it got me a free license and a lot of experience in a short time (you're always on the phone, they don't stop ringing, by design).

I was able to transition that into working for a boutique P&C agency that is akin to what you seem to be looking for. Much more personal touch, building a relationship with clients and make sales while servicing. All the while, benefiting from the experience and knowledge in the office.

So to that end, the biggest advice I'd have is don't be afraid to get your hands dirty / don't be afraid to take the not-so-glamorous route first to build a foundation.

On the plus side, insurance gets a pretty nasty rap and has a stigma around it, so you don't see a flood of people wanting to get into the business.
 
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^since you're former GEICO...can you comment on their process for handling cancellations?

Highly compartmentalized machine they run, so I didn't handle any servicing, but I know it's very straightforward. Call them and tell them and they'll want to know why, try to retain if possible, etc.

But ultimately if you want to cancel you don't have to hand-write an ACORD cancellation form and fax it over to a specific office who then needs to confirm you've got current coverage with a full policy jacket from your current carrier along with the blood of your first born.
 
Highly compartmentalized machine they run, so I didn't handle any servicing, but I know it's very straightforward. Call them and tell them and they'll want to know why, try to retain if possible, etc.

But ultimately if you want to cancel you don't have to hand-write an ACORD cancellation form and fax it over to a specific office who then needs to confirm you've got current coverage with a full policy jacket from your current carrier along with the blood of your first born.

What do GEICO employees make? Do they get paid commissions? Are they selective with who they take? They are all ruthless.

Do you know anything about the Geico Agency Program?
 
What do GEICO employees make? Do they get paid commissions? Are they selective with who they take? They are all ruthless.

Do you know anything about the Geico Agency Program?

I can't speak much to what goes on in a local office, I worked for their corporate center. I had talked a lot with the director about their agency program when I worked there as it intrigued me, though. GEICO offices are usually ran by people who were direct center employees who were top producers and had the capital outlay to start the office.


t's a pretty selective and tough agency to get into because there are so few.
In the urban area I live in, there are roughly 50 State Farm offices and a whopping 1 GEICO office. Their very model (and how they often get such competitive rates) is heavily centered on being direct and avoiding the additional cost of having so many agencies. 15% being a generally average commission in the insurance biz and GEICO claiming they'll save you 15% or more is not a coincidence.

All that said, if you can get into one of their offices, I'd recommend it. They do honestly have a great, competitive product, so if you're stuck working as a captive with only access to a single carrier, it's one of the top choices I'd take.

As far as compensation, I have no clue what the office pay structure is like. The compensation I got as a phone agent with a single role of giving quotes and selling policies (no servicing, no backend, nothing like that - a very well compartmentalized machine) was very fair and the bonus structure is great if you're good at putting up volume. I was a top quartile producer despite my being so green to the industry and company, I ultimately left for a boutique agency at comparable pay because I wanted to learn other lines of business and be able to leverage a more personal-relationship oriented environment
 
P&C requires a lot of service work. Auto changes, driver changes, home purchases, certificates for commercial clientele, etc.
The market is ever changing. I would suggest looking on your local Independent Agent Association website for classes or information pertaining to your state specifically. I like the classes because you hear what other agents are dealing with or what is working for them. They offer a virtual university that can also be helpful.
 
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