In the Insurance Business who are you actually working for???

[Markthebroker]

I know this doesn't really answer what you're looking for, but as an independent broker, hands down, I work for the client, period. Everything else is much less important.

 

[DHK]

1. Until I'm face-to-face with a prospect or client, I work for me.
2. When I'm face-to-face with a prospect or client... I work for them.
3. When I'm taking an application for insurance... I work for the insurance company as the "field underwriter".

 

[Abrasax]

In Florida anyways, the test reads that your primary commitment is to the carrier (paraphrased). That always seemed a little goofy to me.

 

[goillini52]

In Florida anyways, the test reads that your primary commitment is to the carrier (paraphrased). That always seemed a little goofy to me.

But without the client, we don't get paid. I agree...goofy.

 

[StarterAgentKG]

There are many agencies where they will encourage you to recruit downline agents from day one. You don’t have to even have one speck of knowledge or have even made your 1st sale yet and you can be the upline manager to some poor fools. Happens every day.

My belief has always been that it is insane to recruit agents under you until you have a number of very successful years under your belt which will provide you with increased commission levels and more importantly the knowledge and experience to actually help your agents become successful.

Until you are able to put your agents at proper starting commission levels (as posted on our website) what reason would they want to sign up for less? You don’t want to base your recruiting on their ignorance. Because once they become knowledgeable about the business they will fire you and move on.

Make your first fortune by selling insurance. Then if you want to recruit, you will be in a much better position to be successful at that too.

100% understand. Makes sense and unstanding is I now know why MLM companies and guys like Primerica get a bad name, because you have agents who right out the gate just start recruiting, and unless maybe you came into the business with a ton of sales management experience you are screwed.

 

[DHK]

In Florida anyways, the test reads that your primary commitment is to the carrier (paraphrased). That always seemed a little goofy to me.

Not at all. It makes perfect sense. Remember for exams, that it takes a more 'extreme' view of things. If your duty and loyalty is ONLY to your client, then, at the time of application, you wouldn't disclose things that the company needs to make a proper risk assessment on the application. Why? Because you want your client covered regardless of the risk assessment.

What I think is funny... is that the duty to the insurance company is often interpreted as a conflict of interest with the client due to commission compensation! lol.

 

[Orion1]

I started out the gate and setup my own agency and got contracted with my carriers.
I represent myself and agency first the carriers I represent second. Irrespective of which up line I have for which carrier contract. The middlemen never get phone calls from clients. I do, my agency does, and the carriers do. Just my $0.02 but as a broker you represent you, your client and the carrier everyone must be happy.
If you are an agent you represent the carrier. One is easier/better than the other but it will depend on circumstance.

 

[StarterAgentKG]

My question was really more about when you dealing with uplines and downlines. You have some agents who have a downline and who llc'd there business and they consider anyone in there downline someone who works for them.

I met with one guy, and at the time I met with him I had an understanding on the contract levels. He said he was a GA and that he had 50 agents working for him, but that the beauty of it is that you run your own business under him.

I guess to put it this way I was curious about the business structure and business model of the insurance business more then who you technically work for.

 

[StarterAgentKG]

There are many agencies where they will encourage you to recruit downline agents from day one. You don’t have to even have one speck of knowledge or have even made your 1st sale yet and you can be the upline manager to some poor fools. Happens every day.

My belief has always been that it is insane to recruit agents under you until you have a number of very successful years under your belt which will provide you with increased commission levels and more importantly the knowledge and experience to actually help your agents become successful.

Until you are able to put your agents at proper starting commission levels (as posted on our website) what reason would they want to sign up for less? You don’t want to base your recruiting on their ignorance. Because once they become knowledgeable about the business they will fire you and move on.

Make your first fortune by selling insurance. Then if you want to recruit, you will be in a much better position to be successful at that too.

just curious how much do you guys charge per lead.

 

[StarterAgentKG]

I started out the gate and setup my own agency and got contracted with my carriers.
I represent myself and agency first the carriers I represent second. Irrespective of which up line I have for which carrier contract. The middlemen never get phone calls from clients. I do, my agency does, and the carriers do. Just my $0.02 but as a broker you represent you, your client and the carrier everyone must be happy.
If you are an agent you represent the carrier. One is easier/better than the other but it will depend on circumstance.

I see your from CT who is your IMO there.