How do insurance agents/brokers get qualified leads?

[Shaun_P]

My smallest client makes me about $25 a year. My largest makes me somewhere around $10,000 a year.

If you are trying to figure out whether or not to get into the industry, the answer you are looking for, is that most agents fail or go broke, and a small group do extremely well, and there are some in between. I have done very well selling commercial p&c insurance. I'm not even 40 yet and I retired last year, but am back working because I almost went bonkers from boredom.

I have done very well in commercial p&c in my area. If I tried in a different area, I don't know how well I would do. Personal insurance? I'd be making much less. If I tried life insurance? I'd likely fail within 6 months.

The only way you can know how well this will work for YOU is for you to get a job in the industry, and see how it fits you.

If you want to continue asking vague meandering questions, give us some idea of what your situation is and what you are looking for, and perhaps we can be more helpful.

Fair Enough I didn't realise it varied that much.
Here's what I would like to have figured out:

Generally - Is it worth going into this field for online marketing services? (too vague I know... hence....)
Specifically - Are there at least 1000 insurance brokers (any type) in California that make 2000$ per client (lifetime, not per year) - For at least 4 new clients a year?

I know that there's no way I can get an exact answer to this above question. That's why I'm trying to get indicative answers. Or even some insight into how I might be able to figure this out. Would appreciate any insights. Thanks

 

[Life Hawk]

You might want to look at your philosophy of this business a bit differently than I think you currently are. You have to look at it in the long haul. This isn't the business to get in make a quick buck and out.

The learning curve can be short, but for most it is a bit longer unless your tethered to a good mentor... who cares about you for the long term.

 

[Shaun_P]

You might want to look at your philosophy of this business a bit differently than I think you currently are. You have to look at it in the long haul. This isn't the business to get in make a quick buck and out.

The learning curve can be short, but for most it is a bit longer unless your tethered to a good mentor... who cares about you for the long term.

That's fair enough. I clearly don't know enough about this, hence my questions.
I'm not looking to be a broker. My current expertise is in online marketing and sales. I'm looking to sell those services to brokers/agents as opposed to being one myself. Trying to assess this market.


Specifically - Are there at least 1000 insurance brokers (any type) in California that make 2000$ per client (lifetime, not per year) - For at least 4 new clients a year?

I know that there's no way I can get an exact answer to this above question. That's why I'm trying to get indicative answers. Or even some insight into how I might be able to figure this out. Would appreciate any insights. Thanks

 

[Life Hawk]

That's fair enough. I clearly don't know enough about this, hence my questions.
I'm not looking to be a broker. My current expertise is in online marketing and sales. I'm looking to sell those services to brokers/agents as opposed to being one myself. Trying to assess this market.


Specifically - Are there at least 1000 insurance brokers (any type) in California that make 2000$ per client (lifetime, not per year) - For at least 4 new clients a year?

I know that there's no way I can get an exact answer to this above question. That's why I'm trying to get indicative answers. Or even some insight into how I might be able to figure this out. Would appreciate any insights. Thanks

$200 per month premium on a client for some sort of life product X 12 months X 100% commission first first year = $2400. If you carry a higher commission you need less premium dollar to get you to that point.

The rub comes in when attempting to get a clients to fork over $200 a month... on a regular basis.

Remember the numbers are the numbers... but they are still only numbers... it takes people (clients) to make the numbers work.

 

[Shaun_P]

$200 per month premium on a client for some sort of life product X 12 months X 100% commission first first year = $2400. If you carry a higher commission you need less premium dollar to get you to that point.

The rub comes in when attempting to get a clients to fork over $200 a month... on a regular basis.

Remember the numbers are the numbers... but they are still only numbers... it takes people (clients) to make the numbers work.

Thanks, that's super-useful. So the question now I suppose is if getting a client to fork out 200$/month quite rare?

Given how many life insurance companies there (and that's life alone), it seems very likely to me that there must be at least 1000 senior brokers/agents in California that can get at least 4 clients a year to spend 200/month on insurance? Especially if you consider all insurance types, not life alone?

What do you think?