Agent Vs Direct Writer of Insurance / Personal Lines

[danielgordon]

Direct Writer of Insurance is much better then just an Agent and I will explain why.

as an agent you sometimes have to buy lots of leads and translate them into business. This can be good if your good at cold calling. If you got a good book of business this can be good as well. Most agents just get commissions of 10 - 15 % off each policy which can add up. The average agent makes from 30 - 55 k a year and the top 10 % make 80 - 100k. But if you work in a state where a direct writers insurance company dominates then it can be proven very difficult to make a lot of money. Some agents get other incentives such as trips and events.


as a direct writer of insurance most companies give you salary plus bonus. The company I work for now gives me 67k with 10% night differential. The max bonus I can achieve in 1 year is 60k. There is also profit sharing where it could range from 19-32% of gross income. 10 % of the 32 goes into 401k and 22% you get in a check but can only use 20k of the bonus u made max for that. This means max you can get is around 150k a year. This does not include overtime which can boost your income way up. Also top producers get very good trips and can work at yearly shareholder meetings. Sounds like alot of work but actually I only work 4 days a week off Wednesday Friday and Saturday.This gives me the freedom to do other things outside of work.

What do you think. I would never become an agent or a broker.

 

[NCAgent]

Direct Writer of Insurance is much better then just an Agent and I will explain why.

as an agent you sometimes have to buy lots of leads and translate them into business. This can be good if your good at cold calling. If you got a good book of business this can be good as well. Most agents just get commissions of 10 - 15 % off each policy which can add up. The average agent makes from 30 - 55 k a year and the top 10 % make 80 - 100k. But if you work in a state where a direct writers insurance company dominates then it can be proven very difficult to make a lot of money. Some agents get other incentives such as trips and events.


as a direct writer of insurance most companies give you salary plus bonus. The company I work for now gives me 67k with 10% night differential. The max bonus I can achieve in 1 year is 60k. There is also profit sharing where it could range from 19-32% of gross income. 10 % of the 32 goes into 401k and 22% you get in a check but can only use 20k of the bonus u made max for that. This means max you can get is around 150k a year. This does not include overtime which can boost your income way up. Also top producers get very good trips and can work at yearly shareholder meetings. Sounds like alot of work but actually I only work 4 days a week off Wednesday Friday and Saturday.This gives me the freedom to do other things outside of work.

What do you think. I would never become an agent or a broker.

Yeah until they lower your bonus or commission, or raise the goals for the same rewards. Also, you're pigeonholed into 1 company so if it isn't competitive in your area, good luck getting any real bonus.

Allstate lowers the commissions of their captives by almost half, and made the underwriting more stringent. So now you make less and have to try twice as hard to get an appropriate sale.

Not saying anything against a specific captive but the work you put into being an agent will typically result in more money as an indy. Also, captives have to cold call and get their own leads as well. Getting other ways for business is part of how the companies justify lower wages since they did 10-20% more of the work.

 

[Guest]

Spam Alert

 

[BTFuzz]

Spam Alert

+1....prolly has a big "L" smack dab in the middle of his forehead

 

[danielgordon]

Actually I have 38 states I am licensed for. 1 RESIDENT and 37 NON RESIDENT LICENSES. I have a lot of opportunity for sales. I do not do any cold calling at all. Most of my calls are processing payments for readjusted rates from internet quotes. I would say most people who are direct writers have a more safe bet then agents or brokers. Much less responsibility as a direct writer vs agent/broker. All I do is quote and bind quote and bind!!!!!!!!!!! and Agents/brokers sell service claims , sell service claims!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!lololol

 

[NCAgent]

Actually I have 38 states I am licensed for. 1 RESIDENT and 37 NON RESIDENT LICENSES. I have a lot of opportunity for sales. I do not do any cold calling at all. Most of my calls are processing payments for readjusted rates from internet quotes. I would say most people who are direct writers have a more safe bet then agents or brokers. Much less responsibility as a direct writer vs agent/broker. All I do is quote and bind quote and bind!!!!!!!!!!! and Agents/brokers sell service claims , sell service claims!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!lololol

yeah because 38 licenses means you get 38x the leads of other people. I have 22 from Allstate but I only use like, 4 of them. A lot of direct writers can barely prospect in one state, let alone 38 of them...

I need to stop feeding the troll...

 

[Guest]

Actually I have 38 states I am licensed for. 1 RESIDENT and 37 NON RESIDENT LICENSES. I have a lot of opportunity for sales. I do not do any cold calling at all. Most of my calls are processing payments for readjusted rates from internet quotes. I would say most people who are direct writers have a more safe bet then agents or brokers. Much less responsibility as a direct writer vs agent/broker. All I do is quote and bind quote and bind!!!!!!!!!!! and Agents/brokers sell service claims , sell service claims!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!lololol

oh really? Well I am licensed in 1,271 states, so I got ya beat

 

[BTFuzz]

Actually I have 38 states I am licensed for. 1 RESIDENT and 37 NON RESIDENT LICENSES. I have a lot of opportunity for sales. I do not do any cold calling at all. Most of my calls are processing payments for readjusted rates from internet quotes. I would say most people who are direct writers have a more safe bet then agents or brokers. Much less responsibility as a direct writer vs agent/broker. All I do is quote and bind quote and bind!!!!!!!!!!! and Agents/brokers sell service claims , sell service claims!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!lololol

What are you.....like 12?

 

[danielgordon]

I am in NY so its easy to sell there because geico is number 1 there lollollololololoolol