Trial by Fire - Is This How You Learn P&C?

mr_furly

Expert
61
FL
Newly licensed.
Ive talked to a few indie agencies that focus mostly on commercial accounts.

The basic pitch im getting from some agencies is that if im willing to hunt for potential accounts...they'll teach me how to do everything by looking over their shoulder as they write these policies.

With the idea being ill eventually learn what I need to know in insurance to be able to do it all my self.

How does this sound to you all?
Is this the norm?

One told me I would own my own book


I was talking to a guy in one of the large corporate firms, and he was saying how it will take me years before I become a producer :D
(which is why I hate everything corporate...you have to buy into that carrot on the stick)
 
Newly licensed.
Ive talked to a few indie agencies that focus mostly on commercial accounts.

The basic pitch im getting from some agencies is that if im willing to hunt for potential accounts...they'll teach me how to do everything by looking over their shoulder as they write these policies.

With the idea being ill eventually learn what I need to know in insurance to be able to do it all my self.

How does this sound to you all?
Is this the norm?

One told me I would own my own book


I was talking to a guy in one of the large corporate firms, and he was saying how it will take me years before I become a producer :D
(which is why I hate everything corporate...you have to buy into that carrot on the stick)

Being somewhat new to P&C, I have to admit there is a level of trial by fire to it.

Personally, if I have the opportunity to work with an experienced agent in a field I am interested in....I don't mind doing the grunt work just to learn what they are doing to be successful. That was part of the reason I started with a big company under an agent. When I found out that he was losing more of his book than he was gaining per month, I decided that maybe he doesn't have the "expertise" I was looking for in a mentor in this area.

The question I would ask is... is working with this person or company worth it? Would you be better off bringing business to someone else to profit off of or find a mentor who can walk you through the process on your own?
 
Being somewhat new to P&C, I have to admit there is a level of trial by fire to it.

Personally, if I have the opportunity to work with an experienced agent in a field I am interested in....I don't mind doing the grunt work just to learn what they are doing to be successful. That was part of the reason I started with a big company under an agent. When I found out that he was losing more of his book than he was gaining per month, I decided that maybe he doesn't have the "expertise" I was looking for in a mentor in this area.

The question I would ask is... is working with this person or company worth it? Would you be better off bringing business to someone else to profit off of or find a mentor who can walk you through the process on your own?
what was the grunt work they had you doing?

The places im talking to are willing to give me a 40% split of what I bring in (and like I said, one place said I can own the book).

It sounds great to me...just wondering if people think its a good way to learn.

When I got my license I had the idea in my head I was going to work at a captive like Liberty Mutual where they put you in a classroom for 6 weeks before you talk to anyone...
...but I quickly learned how massive the industry is, and how many different types of opportunities there are.

So I ended up talking to some commercial independent brokers who are willing to just throw me in there.
 
what was the grunt work they had you doing?

Same as what you were putting out there. Scouting businesses for commercial stuff.

IF they are giving you a cut of the action, awesome! I think I got like $25 for what I was doing and an hourly of $12. It wasn't great, but I got to learn a ton. In the end, that's what you probably need the most... the ability to learn.
 
Being somewhat new to P&C, I have to admit there is a level of trial by fire to it.

Personally, if I have the opportunity to work with an experienced agent in a field I am interested in....I don't mind doing the grunt work just to learn what they are doing to be successful. That was part of the reason I started with a big company under an agent. When I found out that he was losing more of his book than he was gaining per month, I decided that maybe he doesn't have the "expertise" I was looking for in a mentor in this area.

The question I would ask is... is working with this person or company worth it? Would you be better off bringing business to someone else to profit off of or find a mentor who can walk you through the process on your own?

At NYL I had a district agent mentor. He was a regular agent, very succesful of course, with his own office and recruited a few people to be his mentees. He taught me sales techniques which I use, and took a 5% cut of all my sales. If he had to go on an appt with me to work/close it, it was 10%. very fair imo for a learning newbie.

However, he was 20 years in and 'tired'. He did not solicit much for his own new business he churned and turned his existing book a lot. Nice thing was he wasn't a "company' man, but when the suits were around, he was. It was like having a great dad who was controlled by his wife. Many pluses and minuses, but I knew I could not live under the corporate regime for the entire 3 year training. Way too long, imo, and NYL is the ultimate corporate machine.
 
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