Looking to start career in insurance, looking for advice

I was captive my first 2 months in the business (Life & Health) and i honestly think people over exaggerate the training these companies give, go indy get more commissions get under a good upline and they'll teach you and ask thousands of questions i still learn new things from every agent i encounter.

I agree I think though when people talk about experience as captive to start probably more for those without any sales experience

The rest is over rated
 
Sorry, but you're WAY off base, as far as there is a small difference between Independent and Captive.. :yes:

What am I off based on? As far as I'm concerned, running a captive agency and independent agency is very similar, very little differences between them. In fact, the transition can easily be done due to how similar both operations are.

I have been both a captive and independent agent in my career for Life, Auto, and Home. As far as operating an agency goes, it is very similar. If anyone has run a captive agency, they can easily take that same skill and transfer it to an independent agency without much sweat. The difference operating a captive agency and Independent agency is minimal based on my experience. The majority of the work is still the same. Prospect, Sell, Customer Service. Rinse and Repeat.

As I said, the only thing I had to know more as an independent agent was more underwriting because I have more insurance companies to place and so I had to make sure I placed my clients with the right company that will accept certain risks.
 
What am I off based on? As far as I'm concerned, running a captive agency and independent agency is very similar, very little differences between them. In fact, the transition can easily be done due to how similar both operations are.

I have been both a captive and independent agent in my career for Life, Auto, and Home. As far as operating an agency goes, it is very similar. If anyone has run a captive agency, they can easily take that same skill and transfer it to an independent agency without much sweat. The difference operating a captive agency and Independent agency is minimal based on my experience. The majority of the work is still the same. Prospect, Sell, Customer Service. Rinse and Repeat.

As I said, the only thing I had to know more as an independent agent was more underwriting because I have more insurance companies to place and so I had to make sure I placed my clients with the right company that will accept certain risks.

I already posted my response to this in Post #9, when responding to BADTROUT...who agrees with you.
 
What am I off based on? As far as I'm concerned, running a captive agency and independent agency is very similar, very little differences between them. In fact, the transition can easily be done due to how similar both operations are.

I have been both a captive and independent agent in my career for Life, Auto, and Home. As far as operating an agency goes, it is very similar. If anyone has run a captive agency, they can easily take that same skill and transfer it to an independent agency without much sweat. The difference operating a captive agency and Independent agency is minimal based on my experience. The majority of the work is still the same. Prospect, Sell, Customer Service. Rinse and Repeat.

As I said, the only thing I had to know more as an independent agent was more underwriting because I have more insurance companies to place and so I had to make sure I placed my clients with the right company that will accept certain risks.
Thanks for the information! How would you say commissions compared between the two?
 
Varies greatly... if you are talking ownership in the agency hands down indy with contingencies I make between 12% and 20% on captive 8% to 12% but I'm sure there must be bonuses. In reality its comparable so you look at exit strategy... in the end theres a clear choice.

Anyone th as t would tell you commission on the captive side is better doesnt understand as nd that your closing ratio is far more important to commission rate. Acquiring business and retaining is easier when you have options.

Additionally on the other lines like life insurance you can expect 40 to 60% on the captive side vs 65 to 115% or better on the indy side.
 
Back
Top