Going from MAPD to P&C

May 31, 2008

  1. MAPDJim
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    MAPDJim Expert

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    I've decided to move away from MAPD and enter the P&C world. (My nightmares with FMO's and UHC X 2 was enough to say see ya.)

    I passed my PC exam this week after 2 weeks pre cert and self study. I applied for a PC position at a family run (over 35 years) and was hired at this PC insurance agency here in CT that has some 12 locations. The goal is to have my own office as soon as possible. They have some kind of so called franchise set up where they help you open your own office.

    I'll be salary plus commission to start and when I want my own office I can pay back the salary ($24K a year) and keep my book renewals. I'm hoping after year one I'll be able to do it.

    They provide leads and many, many orphan accounts to call and upsell homeowners if they have auto and auto if they have homewoners or just see if I can save them money with a new policy.

    They seem to be consumer focused with not much mention of commercial. I'd like to find a niche in commercial to supplement my residential marketing.

    A friend of mine owns a convenience store/gas station and said he does not get approached very often by PC reps. I was wondering if anyone has tried this route.

    I've been in sales a long time and know how to network but was hoping to see more activity on this site for PC. Does anyone know of any other sites more active with PC reps?

    Any suggestions about online, local networking groups would be appreciated. I've been apart of BNI and with the right group, someday that will be one route I go.

    This agency has over a dozen companies they write for like Met, Progressive, Foremost, The Hartford, Safeco, Hanover, Sagamore and NLC as well as others so I think I've got a decent group to be competitive. I even think they have Farmers but not sure how beneficial that will be.

    I hope you PC guys/ladies out there keep sharing ideas/success on here as I will do the same.

    One last thing. In your opinion what would be your number one referral source to go after? The one industry person who could make a huge difference in my book.
     
    MAPDJim, May 31, 2008
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  2. thereaper
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    thereaper Super Genius

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    Find a Life and Health agent that also holds a P&C and doing nothing with it and refer business back and forth and split commissions. Or cold call on businesses.
     
  3. jacksprat
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    jacksprat New Member

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    Hook up with a "decent" real estate broker, some one who has been in the biz for awhile and has a good rep. Find out if he will accept a reasonable "finders fee".

    Be careful of state laws regarding such. I've had some bozos who think they deserve half your commission. :laugh:

    Stay away from car dealers. I know some who thought that was the best thing, but many of those referrals are "suspect" or trouble. (liars)
    .
     
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