Insphere Insurance Solutions. Any Info About Career ?

Discussion in 'Health Insurance and Ancillary Benefits' started by Philly, Jan 8, 2010.

  1. MarcoAnastasio
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    MarcoAnastasio Member

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    When you left out to go on your own and started to gross 140K, was this at the 10% rate or do you typically make more when you are not in a captive setting?

    How about the other products offered such as life, and so forth. What rate are they paid out at?
     
  2. Crabcake Johnny
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    Crabcake Johnny Well-Known Member

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    It was at a 20% rate. Nowadays, it would have been $70,000 and probably 45K net. I don't know what InSphere pays out for life and ancillary products.
     
  3. MarcoAnastasio
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    MarcoAnastasio Member

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    What is typical nowadays for life and ancilliary products? I would like to know in case they low ball. When, they do I want to ask why when all other places pay more.

    Again, thank you so much for answering all these questions for me. I hope it isn't too bothersome but it is nice to have some ammo in regards to how the industry works before walking in there uneducated.
     
  4. moonlightandmargaritas
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    moonlightandmargaritas Well-Known Member

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    Now THAT is pretty friggin' funny.:D True too.
     
  5. bill3173
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    bill3173 Well-Known Member

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    Good to have you back, btw, I figured you knew that I was joking on the "success" thread.
     
  6. Paradigm
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    Paradigm Well-Known Member

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    The only problem today as far as support is that the captive marketing agencies are now exactly the same as all marketing agencies. They all market the same product portfolios. What determines the mix is how the agent sells them and what the clients needs are.

    Will you fail if you start out independently? Yes without a mentor you will likely fail without prior sales experience. You need not only to be taught what to do but also what not to do.

    Are some better than others? Yes, often marketing agencies try to give bells and whistles that may have little or no value. Free leads etc may be offered but like the myth of exclusive leads its usually a matter of timing. Conventions and meetings may be time consuming and often pointless. Hierarchies may be too stratified and yes some agencies charge for advances and that can add to potential costs.

    In the end this is a sales business. Sales isn't a difficult business; however it also is an easy one. In sales you must learn to market, build rapport, present, persuade and close. To do this effectively one must have discipline, consistency, and eliminate their fears. The last part is usually the most difficult for people hate being refused and rejected by others, however in this business you must be willing to hear the word no several times to get the final yes.

    Sales is the most lucrative profession for the talented either by inclination or acquisition however as most of the population refuses to become talented due to laziness and apathy it is a woeful position for the vast majority because even though there is no income ceiling there is also no income floor as in true in all commission only compensation programs.
     
  7. bangarang143
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    bangarang143 Active Member

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    This is a great thread, thanks everyone that gave insight!
     
  8. cinoceanus
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    cinoceanus Member

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    I just started with Insphere in Indianapolis, I guess I am guinea pig also !
    (d'oh). I needed to supplement my full time University job to help care for a disabled relative - long story but I sure hope that I don't get you know what... They seem so reputable. I plan on learning all I can and am taking my first insurance test in a couple days. I read something in another post whereas if a customer doesn't close I have to pay out of my pocket ? Can someone elaborate on this another possible pit falls so I can stop twitching? thanks, Cindy
     
  9. Who.but.me
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    Who.but.me New Member

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    Are you still with them? I would love to hear about your experience.
     
  10. Kando
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    Kando Member

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    Re: Any Info About Insphere Insurance Solutions Career?

    Health Markets/Insphere Business Solutions and has grown to the 14 largest broker in the world for their category with close to 3,000 agents and contracts with over 130 major carriers.

    In my opinion, this company is not for everyone. Even though an agent is an independent business person essentially you are a captive agent with required, meetings, can not contract with a carrier except through HM and a hard driving and demanding sales culture with lots of pressure to meet goal. That said, many agents are over $100,000 per year and the top 100 are $500K and up - so the upside reward is there.

    This is a large operation and Insphere owns their own insurance carrier, Chesapeake Insurance, which provides their agents good service, decent rates and specialty products and are quite responsive to agents.

    Health Markets carriers considerable clout with their choice carriers and has the ability to swing their marketing engine into gear and pump the business through. If a person wants to avail themselves, there are lots of training opportunities online and in person. This training is needed because there is a fair amount of turnover with new agents.

    Am agent who leaves can owe the company thousands of dollars because of their advance program. If not a hard driving producer who can get to certain levels this is probably not a good fit. Like any company, there is good and bad, but in fairness, Health Markets/Insphere has completely retooled themselves and proving to be able to turn in the numbers. Others may have a different opinion.
     
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