Looking for Advice: Liberty Mutual Vs. Farmers Agent

[nyc2phi]

Liberty has partnerships with a lot of alumni assocaitions, credit unions, employer groups, ect. so some of those leads are sent to us and are decent. We are also aloud to go after our own affinity accounts and if you open one you can get a decent amount of business from it.

We have "lead day" which is basically on that day or well now half a day if anyone calls in for a quote in your area or goes on LM.com for one it gets sent to you if you are on lead day.

Majority of my business comes from what all other P&C personal lines agents do. Purchase internet leads, sales genie leads, BNI groups, asking everyone you sell for a referral and life ins, ect.

 

[Sales71]

Liberty has partnerships with a lot of alumni assocaitions, credit unions, employer groups, ect. so some of those leads are sent to us and are decent. We are also aloud to go after our own affinity accounts and if you open one you can get a decent amount of business from it.

We have "lead day" which is basically on that day or well now half a day if anyone calls in for a quote in your area or goes on LM.com for one it gets sent to you if you are on lead day.

Majority of my business comes from what all other P&C personal lines agents do. Purchase internet leads, sales genie leads, BNI groups, asking everyone you sell for a referral and life ins, ect.

LM also has it with reality executive agents they give them a small discount. I Just wrote a a policy from LM from a Real estate agent.

NYC do you have to pay on your own for the net leads or sale gene or they pay it for you?

 

[nyc2phi]

Yeah the discount program you are talking about is the same one I was with the affinity partnerships.

I pay for NetQuote (was aloud to expens the first two months up to $100 which was a joke) and Sales Genie most mangers have but I got my own account becasue I didn't want to rely on him for it.

 

[biaomaha]

Definitely not Farmers.

Agree with this post been there done that was successful with them but too much rate disruption for too many years to grow a business properly

 

[WillWerks]

Let's all be honest here. I live in Texas, in a rural community, less than 100 miles from the coast. It's no picnic here either. Our rates are as high here as they are any place in the state. We have been able to grow because (I feel) we bring value to the table. I also understand that we (Farmers) are not alone in the need to take rate. I embrace this movement. In fact, I educate my customers on why you WANT to be with a company that will be bold and make the painful move of taking rate when it is needed. If all I have to sell is rate, then what do I have to differentiate myself in times like this? We as agents have to bring something to the table as well.

I don't see anything wrong with someone leaving the company for whatever reason they choose. I wish you the best of luck and the greatest success in your future endeavors.

Formerly posted as Canureallysale. Please understand that I don't think Farmers is a bad company at all. Every state they are in has it's own director that has some say so in how and what is done. All companies take rate and change rules, in my case it was done in what I thought was a haphazard way that detered new business and discourged renewal. The plans coming from our state office did not align themselves with my plans for my agency or marketing style, nor do I think any captive type company would work for me.

Farmers and other captives give the illision to new agents that they will be able to run their agency as they see fit, which is as true as birds fly south for the winter. Some do, some don't. If you as the agent can follow the rules they set for you and find all the people that fit into the niche they want and will keep then you can do great at a captive company. If you have a need to offer choices as part of your agency, it can't work for you. In my area you have to have choices.

We work totally different markets, rate where you are maybe 5%-10% increase we see 20%-50% I don't know what happens really in Texas, but in MI we start with the handicap of being a no-fault state so a car you can insure for $600. a year We can do for $850. and with Farmers it would be $1050. I went to U of F with a couple Texas agents and they both have left Farmers too.

Stay with it, your doing well with their system.

 

[todd02]

Little over 3 year agent with Farmers here... made over $250k gross in my 3rd year... 2200 Policies in force... I love Farmers because they are putting everything behind the agent and rate is going to happen with every company... GO FARMERS!

 

[Guest]

Little over 3 year agent with Farmers here... made over $250k gross in my 3rd year... 2200 Policies in force... I love Farmers because they are putting everything behind the agent and rate is going to happen with every company... GO FARMERS!

Three years and 2200 PIF? Did you start from scratch or inherit a book of business?

Those are some pretty obscene numbers if you started from scratch. You are either crazy or are known and loved by thousands of people.

 

[nyc2phi]

Three years and 2200 PIF? Did you start from scratch or inherit a book of business?

Those are some pretty obscene numbers if you started from scratch. You are either crazy or are known and loved by thousands of people.

14 policies a week does seem like a stretch but it possible especially if you have staff and producers.

There are a few LM agents in PA that put up similar numbers with no staff.

But still a stretchhh..

 

[todd02]

14 policies a week does seem like a stretch but it possible especially if you have staff and producers.

There are a few LM agents in PA that put up similar numbers with no staff.

But still a stretchhh..

Lol it seems like a stretch? No sir I happen to have 1 full time CSR and 1 telemarketer and use Internet leads. I average 1 new client a day but usually aim for 8 a week. Avg household in my book has 2.7 2.8 PIF. I do what most agents won't do.... Stay until 7:30 pm doing sales calls and work sat... My goal is to burn myself out, find AP's that can duplicate what I do. Have yet to find one but no I didn't receive any policies... I know an agent near me who is at over 5k PIF his 3rd year. Most of his sales is referrals.

 

[vistavette]

2200 policies in three years is a reasonable job but nothing earth shattering - I did more than that as did and do a number of other agents in our area. I am NOT saying this to put down todd02 bur rather to inquire to the others here why you would think its so hard? 61 policies a month is pretty lackluster.

todd02 - you can make a nice living with Farmers - but with your marketing plan you'd probably have doubled that as an independent - with none of Farmers hoops to jump through