Employee Benefits--is Anyone Hiring?

[insurgal81]

I have 6.5 years in the insurance industry. I have specialized in the senior supplemental, individual major medical, and final expense sales my entire career thus far. After a lot of research and talking with a good friend of mine whos a producer in employee benefits, I have decided to persue finding a job in employee benefits. I am looking to get into mid to large sized self funded groups.The problem is, recruiters wont even talk to me due to the fact I have no experience. My friends company isnt hiring and she suggested I check out Chicago due to the fact that it is close to me and a bigger city. Still, no luck. I am still thinking Chi town is my best bet. I applied for my Illinois license, its on the way. Ive always been in the top 10%, Ive won awards every year, I can sell. Any suggestions anyone???
Thanks

 

[somarco]

I can understand why you aren't getting any nibbles. I worked in that market for 20 years and would not hire you for sales. Service work, maybe, but not sales.

That market is a unique animal, especially the self funded side, and it takes a while to become proficient.

If you are looking for direct sales to the client you will starve. The market is very political and it is as much about who you know as it is what you know, and at this point you know nothing.

If you want to work as a wholesaler, the game is played by finding brokers and consultants who are active in that market and convincing them you have a better mousetrap.

 

[leevena]

Same thoughts here. I was in the EE benefits almost 5 years before I could say that I truly understood self-funding. You may want to try a TPA, consulting or brokerage house that is in the market already. Learn the business and then see what happens. Your background does not lend itself to the benefits world, let alone self-funding. Do not take this personally, just my thoughts. Good luck.

 

[insurgal81]

Yes, I realize that Employee Benefits is completely, 100% different from what I do. I also realize that everyone starts somewhere. No matter who you are in the EB field, no matter how long or how successful you are at one point you started out with zero experience. I realize that my experience will not help me in the EB field since it is so drastically different. I just look at EB as more challenging than what I currently do, which it is. It would give me a experience to expand my horizons, be challenged, even if I am diving in headfirst without experience. I appreciate everyones honest feedback, it is helpful. Thanks all

 

[somarco]

When Lee and I got in the business carriers were hiring and training rookies as reps. That day has pretty much passed.

Some will hire & train small group reps but field offices are mostly a thing of the past. When they do hire in the field it is almost always experienced reps.

I have not heard of any large group carrier or TPA hiring rookies in years. Not saying it doesn't happen, but if it does it is completely off my radar.

My first job out of college was with a family owned employee benefit consulting firm. Connections allowed me to get in, but that was also a different time and place.

You might find a consulting house or mid-size benefits agency willing to give you a shot, but it will most likely be small group or voluntary benefits.

 

[kheyknee]

You could start with one of the voluntary carriers. They will hire anyone with a pulse and a license. The positions are 100% commission only. Your recent experience will help when dealing directly with employees.

You will gain employee benefit experience, a book of business, relationships with business owners who make group benefits decisions, and relationships with brokers selling to groups. All of the above will better position you for the position you ultimately desire.

 

[ABC]

This is good advice.

You could start with one of the voluntary carriers. They will hire anyone with a pulse and a license. The positions are 100% commission only. Your recent experience will help when dealing directly with employees.

You will gain employee benefit experience, a book of business, relationships with business owners who make group benefits decisions, and relationships with brokers selling to groups. All of the above will better position you for the position you ultimately desire.

 

[insurgal81]

Any other advice from anyone??

 

[b61mack]

why do you want to change the insurance market you sell ? if your experience is in the senior market, why not sell in the senior market...????

 

[insurgal81]

I was considering it but changed my mind. A friend I workout with is in Employee Benefits and she is making 3x what I make, she has only been with her company for 2.5 years too. Given, she came from another company where she had 10 years experience but still, thats a lot. Also, she told me it makes so much sense to chase the groups instead of the individuals here and there. It was a idea for awhile . . .not anymore.
- - - - - - - - - - - - - - - - - -
I tried to look into it I just kept running into dead ends. No one really wanted to give me the time of day. I feel as if it never hurts to try and branch off from where you have experience. The more I can learn and know about the insurance world, the better.