Chargebacks Expected from a Producer??

[Swordfish215]

I really don't know why I'm replying, considering it's evident I more than succeeded at getting under the skin of several "agents", thus receiving mostly arrogant/hateful responses, but, here it goes...I actually was, from the beginning, referring to policies that have been issued and in effect....then weeks later, UW finds a discrepancy/s, cancels the policy, in turn hurts our b.o.b., and I am approached for a chargeback..and to respond to the 6 figure comment, "how much do I make"? Obviously not enough to have attained your level of insight.

 

[senior-advisor-indiana]

You do not have what it takes to make it in the insurance industry.

Sorry.

He/she may make a good telemarketer though.

 

[tins]

He/she may make a good telemarketer though.

Lol, yeah right....first person that says 'take me off your list!' and this guy will curl up in a ball crying about how unfair it is that they all won't set appointments with him.

 

[Swordfish215]

Keyboard heroes........a.k.a. functioning alcoholics.

 

[LGilmore]

sword?


Actually you are in a special situation that most here are not. You are getting advances from your GA before underwriting is done. Almost never happens. The problem seems to be you're complaining about chargebacks taken in your situation where it is pretty nice. From submittal of the application to the generation of a commission runs 3-4 months for me.


You're getting paid on submittal, something most agents have to wait another 60-90 days for. You're not getting sympathy from some agents because they don't see your situation as "bad".


My suggestion to you is if you want to avoid future chargebacks, act as a field agent up front and ask more health questions yourself and figure out in advance which new business will harm you or is worth writing. You may end up turning in less applications, but have more business "stick"


Nothing sucks more in this business than giving back hard earned money. If the underwriter is catching it, maybe you could in advance and save yourself the trouble of working for nothing.

 

[senior-advisor-indiana]

Keyboard heroes........a.k.a. functioning alcoholics.

I'll take that as a compliment.

 

[sman]

I really don't know why I'm replying, considering it's evident I more than succeeded at getting under the skin of several "agents", thus receiving mostly arrogant/hateful responses, but, here it goes...I actually was, from the beginning, referring to policies that have been issued and in effect....then weeks later, UW finds a discrepancy/s, cancels the policy, in turn hurts our b.o.b., and I am approached for a chargeback..and to respond to the 6 figure comment, "how much do I make"? Obviously not enough to have attained your level of insight.

There is nothing arrogant or hateful about the responses to you. The fact that you take it that way says a lot about your lack of understanding of this business.

Why is it you feel you deserve the money that has been advanced to you when the policy was withdrawn? Is it because you did the work? Welcome to the insurance business my friend. It definitely isn't for the thin skinned.

And as for your comment about my level of insight, I've been at this business for 25 years in May. You've been at it a few months. Come back and see me in 25 years and tell me if you still feel the same about your current situation. This is a performance based business. If you don't perform (and that means keeping business on the books) you don't get paid. Plain and simple.

 

[Newby]

I remember when I first started in this business my family would try to tell me I was getting scammed because I had to pay back money sometimes. I ended up not ever talking to them about the business because it was constant fighting over getting a real job. My dad was the worst and now I make 3 times more than he does...

Your dad just needs to build a down line.

 

[senior-advisor-indiana]

Your dad just needs to build a down line.

In a way he did. He earns money from me by reminding me of all the money I borrowed from him over the years. Boy does he have a good memory.

 

[AZDave]

Example: We sell an HO policy....we get paid Commish....3 wks later underwriting comes back and says.."Hey, we just noticed the porch is attached to that dblwide, we cant continue the policy"(something the agent didn't notice when taking pics)....Then the agent wants the commish she paid me, back.

Hello Heavy Hitter;

Sounds like you just have to go out and sell a few more double wides to make it up.

I have a contracting account that went out of business, mid term. My charge back is $1000. According to your logic, I am justified to collect from the contractor directly? If it was a producer's account, you better believe I expect to be paid back.

Think about what you are expecting and the business you are in.

I need a drink!