Captive vs Independent...

[jeffery_scott76]

Hey, I feel for the initial phase of your career, it is always better to work as captive agent. You learn so many things when you are working within a company of experienced professionals. You learn the differences between a quality database & an ordinary database. You learn how the different economic segments are targeted. You learn how to prepare your own databases through your researches & analytics.
It is upon these databases that you feed when you think of being independent someday. By that time you have trudged through a lot of hardships & gained a lot in terms of ideas & expertise. Then you become an asset worth bargaining for the entire market.

Regards,
Jeff

 

[jeffery_scott76]

I was captive for over 2 1/2 years now and I know enough to do well on my own I feel.

Any reasons??

 

[blaze1x]

Anybody have any horror/success stories about going captive through AIG? I did a search and nothing came up. When people talk captive, AIG doesn't appear to be one of the "usual suspects."

 

[patch36]

Learn captive, make money independent.

Exactly correct in my opinion.

 

[Corey]

There is one other aspect to starting out as an independent that I have never seen discussed. It is a very lonely existence.

There aren't others around who are doing what you are to bounce ideas off of or share successes and failures with. It is also much more difficult to get answers to questions.

If a new agent is having a bad month there really isn't anyone around to help him/her get through it and turn things around.

Starting out can be difficult enough being captive, let alone being totally on your own. Some handle it very well, others fail miserably who might of otherwise been top producers.

Just food for thought, nothing more.

Great responses so far in this thread.

In regards to Franks comment above, independent agents can turn to local (or national) associations for support. A good example would be NAIFA: NAIFA - National Association of Insurance and Financial Advisors

 

[Frank Stastny]

Great responses so far in this thread.

In regards to Franks comment above, independent agents can turn to local (or national) associations for support. A good example would be NAIFA: NAIFA - National Association of Insurance and Financial Advisors

Corey, I think you are totally missing the point. You will receive nothing in the way of the kind of support I am talking about. I don't think you read my post very carefully.

I'm talking about another live person who an agent can physically sit down with and talk to. Go out in the evening and have a drink and "tell lies to each other about how big and powerful they were today or bitch to because the last two days have really sucked.

Without that a new, independent agent will start questioning what they are doing or the wisdom of their decision and think that they are "the only one" out there having problems.

Members of this board are going to provide a ton more "support" than any association.

You almost sound like you are pushing membership in NAIFA. Can you pick up the telephone and call them like I can call Rick, Senior or others and bullshit with them? Not no but hell no.

One can do that when captive and working out of an office with other agents experiencing the same successes and failures. Please don't give new agents the idea that NAIFA or any other group will "be there" for them if they are having a crappy day or week.

 

[sreeja]

As an independent we have more companies which mean we can choose which company offers the best products and premiums for my client.Companies go through cycles of profitability.

 

[patch36]

The support you get from being captive and belonging to associations is that they take part of your earning, make rules, require blind loyalty and give you a narrow perspective.

I have gotten some valuable training and experiences when I was captive, but I can never go back. Being Independent can mean that you can offer what is best for the customer, not the company.

 

[Bitnis]

Something else to consider. I had no idea how important it would be to have the ability to offer health insurance. Since I started as a captive a couple of months ago, I've had to turn down health insurance business that was offered to me. My company won't allow it for six months. It's hard enough to find business but to have to turn business away is BAD!

 

[Death Cab For Tootie]

Something else to consider. I had no idea how important it would be to have the ability to offer health insurance. Since I started as a captive a couple of months ago, I've had to turn down health insurance business that was offered to me. My company won't allow it for six months. It's hard enough to find business but to have to turn business away is BAD!

Surely you can refer it to a colleague who can place the business, no?