1 Insurance Carrier in '50 Best Companies to Sell For' List

[UW Guy]

I really have a hard time understanding how NWM keeps their experienced agents. Its not all about the money, but they pay their agents the least out of the major mutuals.

Some drink the Kool-aid and will tell you they "bleed blue and gold", others get used to up front commissions and are scared to lose the NM name to get in the door. They've had Mass and a few other companies have been siphoning off people for three years.

 

[scagnt83]

I really have a hard time understanding how NWM keeps their experienced agents. Its not all about the money, but they pay their agents the least out of the major mutuals.

Strong Renewals along with a strong Pension Plan along with a very "business minded" mentality about operating your business gives them more lifers than others.

NYL used to have a lot more lifers before they started coming out with new contracts that slashed pension benefits. I know wholesalers at the big mutuals who have been there forever because of the pension benefits given in their very old agent contract.

But I hear that NWM is starting to water down the new agent contracts more and more vs. the old ones. They still have very strong training. Many offices essentially require agents to employ an assistant by year 2 or 3. At many of their offices, they teach you to run a business, not just sell insurance. The training and mindset they teach about the business is different vs. the other big mutuals.

Imo the products are overpriced and overhyped for what you get though.

 

[FL P&C Broker]

I did the car wash when I was fresh out of college and every single one of them would have hired me...I interviewed with all of them. On my second interview/follow up call I asked all of them instead of doing a project 200 if they could actually teach me how to prospect. I lost interest after their response.

The managing partner of NMW did tell me he used to dial his way through phone trees of big corporations and BS how he was referred to them by a co-worker...thought that was kinda funny.

 

[UW Guy]

This could also be a problem...

Job cuts on the way at Northwestern Mutual - Story