Working with Commerical Agents ???

[Gulfman]

Hi Friends,

Doing research on where i would like to work once i get my PC lic.

(been doing LH for 2yrs, pt).

I was first thinking it would be best to get my feet wet working in the personal lines...BUT then i got to thinking about Commercial.

Was just surfing the net and did a search for most successful Insurance agencies that write in my area (the top premium producers). I got the a list of the top 20 list published by a local biz paper. I looked at the synopsis of these firms and its quite impressive. They land and go after large accounts that pay 5-6 figure premiums. (looks like they mostly write "workers comp,liability,etc" for LARGE COMPANIES).

• Can a small independent agency compete with these big agencies?
• How difficult is it to land a position with these "Top Shelf Firms?"
• Do these firms work with smaller agencies and split comm.?

Not sure if i its a waste of time to even consider ---BUT, i thought i would ask.

Thanks for your input....

~T

 

[Nicox27]

Well yes commercial agents do make more bc they handle more than just your typical coverages and there is a lot more to the insurance world than an HO3 and a HO5. Most large agencies do not work with smaller agencies. They will buy them but won't work along side them. In the commercial world every agent is your competition and it is up to you to beat them daily. You can get a job with one but you will need to apply at each bc when an agency needs a producer they normally go off of a reference for new hires. The commission is most likely different at every agency. But each line of business gets a different commission percentage and generally you as the producer will get 30% to 35% and the agent will collect the other 65%. But you have to remember you don't right large accounts right out of the gate. The more seasoned agents with years of coverage and forms experience get those accounts and hold on to them for a long time. Also you will be selling to intelligent business owners not the average population. It's not for everyone but it is a great way to live.