Multi-Line Agencies....Looking Towards The Future?

[LaffAgent]

I don't think you could go wrong with either of those companies. The key is what you enjoy or are good at vs. ego. Working in those positions you simply have more of everything except prospecting and commission percentages. You'll get more good leads, do more appointments, have a better closing ratio, sell more cases, and make a little less on each sale.

You do need to also consider your ego. We (the p&c agents) and I consider each other partners, but the bottom line is I'm an offshoot of their agency. I've seen some guys stumble on their own ego in that situation and causes a big problem.

 

[insuremojo]

It works if you do it right. My agency currently (Nationwide Agency) currently has 2 full time producers, 1 part time, and 1 service rep. We had some growing pains at first because the agency hasn't even been open for a year yet but the agency is really starting to get busy.
I am one of the producers and write a lot of business all across the board.
Don't do too much auto/homeowners (auto is easy just too much service work) because we have an ex State Farm agent that handles most of that. I get some on the side to keep me busy when I'm not writing health and life. I prefer not do too much auto anyways (measley little commissions). If anything the auto is a good lead in to the home (I can't even tell you how many multi policies I've written just starting out with auto and saying "do you want the multi policy discount with that if I quote your home and save you some money?") Then you come back in 3 months and quote their life and health. Some will bite some won't. Nature of the business.

Nationwide usually has really good rates and you should be able to take a lot of business from the big 3 (state farm, farmers, & allstate).

 

[J.R.]

It works if you do it right. My agency currently (Nationwide Agency) currently has 2 full time producers, 1 part time, and 1 service rep. We had some growing pains at first because the agency hasn't even been open for a year yet but the agency is really starting to get busy.
I am one of the producers and write a lot of business all across the board.
Don't do too much auto/homeowners (auto is easy just too much service work) because we have an ex State Farm agent that handles most of that. I get some on the side to keep me busy when I'm not writing health and life. I prefer not do too much auto anyways (measley little commissions). If anything the auto is a good lead in to the home (I can't even tell you how many multi policies I've written just starting out with auto and saying "do you want the multi policy discount with that if I quote your home and save you some money?") Then you come back in 3 months and quote their life and health. Some will bite some won't. Nature of the business.

Nationwide usually has really good rates and you should be able to take a lot of business from the big 3 (state farm, farmers, & allstate).

Who does Nationwide write their health insurance through? I didn't see anything about the specifics of the plan on their main website. thanks.

-J.R.

 

[CHUMPS FROM OXFORD]

Nationwide has their own policy. Currently in Ohio and Ca. Maybe a few other states that I am not aware of.

 

[Wprice]

Who does Nationwide write their health insurance through? I didn't see anything about the specifics of the plan on their main website. thanks.

-J.R.

Nationwide allows you to brokerage out your services. For example if they can't write you homeowners insurance, they can brokerage out to a sub standard companies. Same for Health and Life, we can contract with any company, but nationwide gets their taste along with the agent. Of course we always go to Nationwide when they offer the product, first. Plus, the commission is nicer on the health and life side, but I love doing homeowners and offering MP, most customers dig into it and I see a total of 500 in commish plus my salary.

 

[J.R.]

Nationwide allows you to brokerage out your services. For example if they can't write you homeowners insurance, they can brokerage out to a sub standard companies. Same for Health and Life, we can contract with any company, but nationwide gets their taste along with the agent. Of course we always go to Nationwide when they offer the product, first. Plus, the commission is nicer on the health and life side, but I love doing homeowners and offering MP, most customers dig into it and I see a total of 500 in commish plus my salary.

What is MP?

 

[Wprice]

What is MP?

Mortgage Protection... That ho and disability are the only three products I spend my time with. A little cancer, but yeah...

 

[Wprice]

I say get to em before NAA!

 

[natem2112]

It works if you do it right. My agency currently (Nationwide Agency) currently has 2 full time producers, 1 part time, and 1 service rep. We had some growing pains at first because the agency hasn't even been open for a year yet but the agency is really starting to get busy.
I am one of the producers and write a lot of business all across the board.
Don't do too much auto/homeowners (auto is easy just too much service work) because we have an ex State Farm agent that handles most of that. I get some on the side to keep me busy when I'm not writing health and life. I prefer not do too much auto anyways (measley little commissions). If anything the auto is a good lead in to the home (I can't even tell you how many multi policies I've written just starting out with auto and saying "do you want the multi policy discount with that if I quote your home and save you some money?") Then you come back in 3 months and quote their life and health. Some will bite some won't. Nature of the business.

Nationwide usually has really good rates and you should be able to take a lot of business from the big 3 (state farm, farmers, & allstate).

InsureMojo...you've got Private Mail!

Or give me a call, I'd love to talk with you about your experience so far with Nationwide

Cell: 608-495-0803

Thanks!

 

[Wprice]

I need to say I love Nationwide so far. I like being able to guarantee that I can sell a homeowner policy. If Nationwide won't do it (I live in a disaster area), then I can go through Hull or Johnson and Johnson or Foremost, but ultimately I'll write a policy with those companies to get a policy with NW. We still offer a small discount on their Nationwide policy if they use a carrier in our network. Ultimately, Nationwide is a stepping stone, I was to really learn my business and go independent, but I'm waiting to learn before I jump blindly on my own.