Insurance Career

[Nfernandez1]

Hello,

I have been looking into the insurance industry for quite some time and even dipped my toes in the water as an account manager for a captive agent. A little back story about my self, I have worked in sales my entire career however have been on the hunt for something that will allow me to build a residual book of business. I want to get paid to bring people to the table but then I also want to be compensated for KEEPING them at the table. Insurance seems to provide that opportunity.

However, I have been unsuccessful in finding an independent agency that will take me on to get started. Are there agencies out there that would pay me a "vanishing base salary" (I.e $30k year one, $25k year to and so on) While I build up my book of business on a split commission with their agency?

Any tips for me to get out there? I live in Columbus, Ohio at the moment.

Thanks

 

[Markthebroker]

If you want to go p&c, your best bet is going to be working for a captive for a year or two. In the beginning, the pay will be better, and the training will too. Then, if it seems to be working for you, and you want to continue, go indi after a couple years of captive. You'll take a hit on your income at first, and there will be a lot more to learn, but you'll have a good start, and the indi agencies will be willing to talk to you.

You'll get a few people suggest a different route, but most successful p&c agents (I'm one of them) will suggest the same path.

 

[marindependent]

I could not agree more. Learn from a Captive insurer, either on the agency or insurer side. Use all of their training and consider some sort of designation while you are there.

In addition to learning from them use this time to "really get to know" some of the competitors that happen to be independent. On occasion, if you are dealing with clients you will need to refer stuff that your carrier does not do. You will quickly learn who knows what and which independent agencies are worth their salt.

After 2-3 years of being with a captive and after you have solid savings (you may already have this) you should consider coming to an independent. Frankly as an independent agent myself I would not really ever consider taking on a newbie.

 

[Markthebroker]

In addition to learning from them use this time to "really get to know" some of the competitors that happen to be independent. On occasion, if you are dealing with clients you will need to refer stuff that your carrier does not do. You will quickly learn who knows what and which independent agencies are worth their salt.

That's a damn good idea.