Much needed advice for a new agent - Property and Casualty

[DaYna]

I am a newly licensed agent with no insurance experience seeking advice for moving forward. I am a partner in a tax business that has been in business for over 25 years and I would like to expand our services to offer insurance products, starting mainly with Property & Casualty lines and eventually expanding into life insurance products. I would like to gain experience and then open my own insurance agency as an insurance broker; however, I am not sure the process in order to make this happen. I thought I should work for an agency initially in order to gain experience; however, now I am unsure. I was offered a position with Country Financial with a starting salary but I don’t know if I should accept it knowing that I won’t own my own book of business and take my clients when I start my own agency.

Has anyone been in a similar situation as me? I would like to gain experience but I don’t want to lose clients that I have established by running a successful tax practice either.

Thank you for your time in reading this.

 

[fed up]

Why not work out an agreement to partner with an established agent and send business to him and he sends business to you until you get a feel for how the insurance business works? That is a win/win client and money wise. You earn from your referrals, he earns from his and work out a divorce solution for when you go off on your own

 

[Todd Dalton]

I recently found a new P&C model that you should consider 1+2=ULI. All the typical head aches and expenses associated with the traditional P&C model are reduced or eliminated completely.

 

[fed up]

I recently found a new P&C model that you should consider 1+2=ULI. All the typical head aches and expenses associated with the traditional P&C model are reduced or eliminated completely.

I think you forgot the hyperlink

 

[Markthebroker]

There is a pretty hefty learning curve to learn p&c, especially if you want to write any commercial. You will need to write a substantial amount of business for many years to make it worth the substantial training and overhead, depending on how you go about it.

Personally I am full time p&c, commercial only. I have done very well, but I took on substantial debt the first several years to make it work.

I would suggest you partner with a reputable p&c agent and refer it out. If not I can pretty much guarantee you will lose clients as you fumble around (like we all did) learning the business

 

[marindependent]

I am not sure how you could learn P&C off on your own in the beginning.

I agree with marketthebroker either "Refer it out" as he said or go work with a solid agency to learn the ropes.

 

[DaYna]

I think I am going to accept the position with Country Financial and learn the business. Thanks to each of you for the advice.

 

[Kenneth Busch]

I think I am going to accept the position with Country Financial and learn the business. Thanks to each of you for the advice.

Curious if you took the position and how it is going? They are recruiting me now and I am considering. Thanks

 

[Rich-paradox]

I'm curious also.

 

[Rich-paradox]

Curious if you took the position and how it is going? They are recruiting me now and I am considering. Thanks

How about you? Did you end up going with country financial? And if so, would you recommend them.