Help and Advice Please

Neil B

New Member
Hi Everyone,

I am fairly new to the Insurance Business (3 years), If anyone can point me to some advice or Help, It would be much appreciated.

I am Running a Small Family Run Agency, We sell Health,Ancillary ,Employee Benefits.
We have been in Business for over 30 years, We have a couple of large Acc for Ancillary products through State,Gov employees.
I am looking at Growing Small/Mid Group Market I am currently the only Producer and Would Like to Hire another Producer to purely concentrate on this. We have support staff in place to support and a good brand Marketing Campaign.We are in Southern CA.

My Questions
1. Best way to do this?
2.Commission Splits? (On Average)
3.What Should I be supporting and Paying for and not? (Ie Vehicle expenses etc)
4. The best way to find a Producer? (Ie traditional methods ads etc)
5. We would prefer an already established Producer (We could purchase his/her current book)

Thanks in advance, I hope this is the right forum.
Neil
 
Hi Everyone,

I am fairly new to the Insurance Business (3 years), If anyone can point me to some advice or Help, It would be much appreciated.

I am Running a Small Family Run Agency, We sell Health,Ancillary ,Employee Benefits.
We have been in Business for over 30 years, We have a couple of large Acc for Ancillary products through State,Gov employees.
I am looking at Growing Small/Mid Group Market I am currently the only Producer and Would Like to Hire another Producer to purely concentrate on this. We have support staff in place to support and a good brand Marketing Campaign.We are in Southern CA.

My Questions
1. Best way to do this?
2.Commission Splits? (On Average)
3.What Should I be supporting and Paying for and not? (Ie Vehicle expenses etc)
4. The best way to find a Producer? (Ie traditional methods ads etc)
5. We would prefer an already established Producer (We could purchase his/her current book)

Thanks in advance, I hope this is the right forum.
Neil

In regards to number 2 and 3, I'd suggest paying the producer one third of commission and then pay for their expenses. Another approach would be to let them pay for their expenses and pay them 2/3 of the commission.

Some of that will depend on what products you are referring to. My suggestions are more geared towards voluntary benefits which are more front loaded and not so much the group insurance products.

Good luck. I'm interested in recruiting too and would like more information from those who have experience doing that.

(I'll also private messaged you.)
 
Hi Michael,

Thank you for responding, I appreciate it, The products I am looking for a Broker is Small/Mid Group Health.

Do you voluntary? or Health/Life also?
 
Hi Michael,

Thank you for responding, I appreciate it, The products I am looking for a Broker is Small/Mid Group Health.

Do you voluntary? or Health/Life also?

I primarily do one product which is guaranteed issue whole life insurance offered at work through payroll deduction. I have offered other voluntary products like accident and critical illness policy.

I don't do any health insurance just voluntary.
 
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