Insurance Agent Forum

[davidd]

A few months ago I decided to leave my career of 15 years and find a more rewarding path. My wife and I own a small business and I liked the notion of self employment so I decided to pursue insurance. I really wanted an opportunity to help people to protect their assets and achieve financial goals.
I passed the exams for Life and Health and settled on the Senior Market as my primary focus. Then I began looking for the right company. I felt that Mutual of Omaha had the right products, reputation and name recognition that could help me be successful.
I contacted the local office and have gone through the appointment process but the one thing I have noticed is their training system seems to be "hit and miss" for the lack of a better term. I have done all the initial modules and am now working on the business plan which I understand the value of from starting our own business four years ago. I have not started on product modules yet, no business cards, very little in the way of marketing material for a new agent. This all began on June 11th.
I know what I need to do. I have got to "fill the funnel". It seems to me that a well constructed training program for new agents would be to first establish their contact goals. Learn the products. Show them how to effectively prospect for the interview. Go out with a experienced agent and observe the interview process, get them some marketing materials and get going.
I guess I'm a little frustrated because I just want to get out and learn and earn. I'm new to this industry so thats why I'm here now. Asking you well seasoned vets if this is normal for MoO and all insurance companies in general or is this some indication of dysfunction in the local organization. Thanks for your input. I'm standing on the ledge, pull me in or help me jump.

[ABC]

From a broker standpoint I have never had a company train me on how to sell. They will explain new products to me.

I stop selling the senior market as of this year but when I did I went to a few seminars on medicare supps. Those are informative about product design but can be bias depending on which carrier is hosting the seminar.

[robliano]

Originally Posted by ABC

I have never had a company train me on how to sell.

Finally someone admits this, I've been butting heads (gently) with many agents about how important training is and how companies don't train you how to sell.

Kudos!!

[ABC]

Originally Posted by robliano

Finally someone admits this, I've been butting heads (gently) with many agents about how important training is and how companies don't train you how to sell.

Kudos!!

You guys in New York don't have any medical underwriting?

If that is the case are all the rates the same with different carriers? So then are you just selling plan design? Does SIC code play a factor?

[moonlightandmargaritas]

Originally Posted by robliano

Finally someone admits this, I've been butting heads (gently) with many agents about how important training is and how companies don't train you how to sell.

This has been going on since forever.

Most insurance companies train on product 90% of the time. The reason is because they think people buy because of their "financial strength", and quality products...

Problem is, that's NOT why people buy.

If the insurance companies were smart (and they aren't by and large) they would train 80% on selling/attitude/presentation skills and 20% on their product.

You can have all the "product knowledge" in the world, and if you have nobody to do it to, you're no better off than the guy who knew a hundred different positions to make love in.

Problem was, he didn't know any women.

[davidd]

Thanks for the replies and I'm sure a few more will weigh in but what I'm gathering so far is that the axiom "Be in business for yourself but not by yourself" is not accurate. In other words, if I want this to happen don't wait, deal with the system the way it is, push on and learn as I go. Does that about sum it up?

[bluemarlin08]

Find an experienced, successfull agent that will split commissions and teach you how this business works. I never learned from the companies, but learned everything from observing other agents. If you don't have at least 6 months to a year financial reserves, or if your wife is not working, forget about it, this business requires patience and the ability to survive until commissions start to flow.

[xrac]

Originally Posted by davidd

A few months ago I decided to leave my career of 15 years and find a more rewarding path. My wife and I own a small business and I liked the notion of self employment so I decided to pursue insurance. I really wanted an opportunity to help people to protect their assets and achieve financial goals.
I passed the exams for Life and Health and settled on the Senior Market as my primary focus. Then I began looking for the right company. I felt that Mutual of Omaha had the right products, reputation and name recognition that could help me be successful.
I contacted the local office and have gone through the appointment process but the one thing I have noticed is their training system seems to be "hit and miss" for the lack of a better term. I have done all the initial modules and am now working on the business plan which I understand the value of from starting our own business four years ago. I have not started on product modules yet, no business cards, very little in the way of marketing material for a new agent. This all began on June 11th.
I know what I need to do. I have got to "fill the funnel". It seems to me that a well constructed training program for new agents would be to first establish their contact goals. Learn the products. Show them how to effectively prospect for the interview. Go out with a experienced agent and observe the interview process, get them some marketing materials and get going.
I guess I'm a little frustrated because I just want to get out and learn and earn. I'm new to this industry so thats why I'm here now. Asking you well seasoned vets if this is normal for MoO and all insurance companies in general or is this some indication of dysfunction in the local organization. Thanks for your input. I'm standing on the ledge, pull me in or help me jump.

I think the best way to learn is find a mentor who is a topgun producer. You bird dog the appointments and let him close the cases. Split the commission until you learn. This is the fastest way to learn the business while making money at the same time if you can find the right mentor. While as a newby you may be hard pressed to close 1 out of 5 appointments a good producer may do 40% or better. Do the math.

If you are looking for a company with a good training program I was impressed by what Western Southern showed me and I understand NYL has a good program. I don't know about others. I don't thank MoO isvery strong on training, at least not where I am at.

[davidd]

Thanks again to all that replied. This is a great forum and one that I'll keep coming back to. To the person who PM'd me, I cannot mail you a response (not enough posts).