Is it true 93% of new insurance agents fail within 1st 3 years?!

Nov 15, 2018

  1. Rob Lion
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    Rob Lion Guru

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    You could give hours of training to someone and they'll still say you didn't train them enough, Some people need hand holding and aren't self starter typically they don't end up working out in the business lol.
     
  2. somarco
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    somarco GA Medicare Expert

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    The majority of the time it is not the lack of training, quality or otherwise, that leads to high attrition. Most new agents are undercapitalized and are not willing to put in the hours to succeed.
     
    somarco, Mar 1, 2019
    #62
  3. marindependent
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    marindependent Guru

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    I have not seen too many real statics on this claim, so until I do,,, I am think it might be slightly dubious.
    • But - without question there is a high failure rate
    • This 'claim' may be double counting people (Such as they failed at NY Life and then at NWM)
    • It may include many of the insurance failure mills out there such as #farmersinsurance where that statistic might be true.
    Also Insurance Sales is one of the few careers out there where many of the jobs are commission only or mostly commission. So a more important question may be how much harder is the role vs other commission only roles?
     
  4. Markthebroker
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    Markthebroker Guru

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    To piggy back on that point, commission only roles in general have a very high turnover rate, as do all sales in general.
     
  5. goillini52
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    goillini52 MAGA...Eat More Bacon & BUILD THAT WALL!!!

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    Most people can't deal with the uncertainty of commission sales.:no:
     
  6. Markthebroker
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    Markthebroker Guru

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    Tell me about it. Because of timing of commissions getting paid, bills getting paid, etcetera, three of my last four commission checks were about 30 or 40% smaller then they normally are. Then, my last commission check was more than double any of those three. This isn't for everyone. Plus, I have the freedom to show up or not show up to work any day, work anytime I want, as much or as little as I want. That's a lot of rope for most people, and because of my background, financial discipline etcetera, I can handle it. Most people would use that rope to hang themselves.
     
  7. Rob Lion
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    I started this month with 2k less commission due to a client lowering their policy, if i didn't save so much money and didn't have as many policies coming in i'd probably be selling cutco knives by now.
     
  8. BADTROUT
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    BADTROUT Guru

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    Statistics dont matter to a good sales person... not to be confused with quantification specifically, but success is 114% dependent on drive. I find that most, no offense to the asker of the question... but... statistically the ones that ask "will I make it?" are far less likely to succeed than us stubborn ones where failure isnt an option, so why ask.

    It's best to run with your eyes open, but make no mistake you best be running.
     
  9. goillini52
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    goillini52 MAGA...Eat More Bacon & BUILD THAT WALL!!!

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    I always heard it was 113%. You're not exaggerating are you? :err:
     
  10. somarco
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    somarco GA Medicare Expert

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    Perfection is not attainable, but if we chase perfection we can catch excellence.

    Winners never quit and quitters never win.

    It's not whether you get knocked down, it's whether you get up.

    Winning is not everything, but wanting to win is.

    The only place success comes before work is in the dictionary.

    The difference between a successful person and others is not a lack of strength, not a lack of knowledge, but rather a lack of will.

    Individual commitment to a group effort - that is what makes a team work, a company work, a society work, a civilization work.

    Winning isn't everything, it's the only thing.

    Practice doesn’t make perfect. Perfect practice makes perfect.

    Football is like life - it requires perseverance, self-denial, hard work, sacrifice, dedication and respect for authority. - Vince Lombardi
     
    somarco, Mar 9, 2019
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