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Hello all, I opened my Independent Agency about 4 months ago. I have been primarily focusing on Home and auto insurance. I have exceeded my goals and expectations and we are off to an amazing start. I wanted to get some advice from some seasoned veterans…..I am considering getting appointments with 3 of the major medical insurance carriers in WA state and start offering medical insurance. My thought is…. more ability to cross sell and retention. What are your thoughts? Good or bad move? Thank you in advance.
 
Hello all, I opened my Independent Agency about 4 months ago. I have been primarily focusing on Home and auto insurance. I have exceeded my goals and expectations and we are off to an amazing start. I wanted to get some advice from some seasoned veterans…..I am considering getting appointments with 3 of the major medical insurance carriers in WA state and start offering medical insurance. My thought is…. more ability to cross sell and retention. What are your thoughts? Good or bad move? Thank you in advance.
I don't think medical insurance will not help your retention rate, in fact it may do the opposite. Business has been good since you opened up your agency so my advice would be to keep concentrating on you P&C and consider adding more products later on.
 
I don't think medical insurance will not help your retention rate, in fact it may do the opposite. Business has been good since you opened up your agency so my advice would be to keep concentrating on you P&C and consider adding more products later on.

Keep your focus, you should find a health broker you feel you can trust, and that part being very important, that is local who you can refer business between. Or atleast refer your clients to him for a cut of the commission. I have this deal with a handful of P&C brokers here in Colorado and it works great! I pay them pretty generously too considering just about everyone they send me is a 1 or 2 call close and is an incredibly pleasant deal for all parties involved.
 
Thank you for your response! I'd love to hear from some P&C people who are offering medical insurance. What has your experince been like?
 
Hello all, I opened my Independent Agency about 4 months ago. I have been primarily focusing on Home and auto insurance. I have exceeded my goals and expectations and we are off to an amazing start.
…..I am considering getting appointments with 3 of the major medical insurance carriers in WA state and start offering medical insurance.

You are currently pulling the handle on a slot machine that is broken and it is paying off on each pull.
How you also want to try another slot machine??
Keep your focus on the broken slot machine.
 
These guys are right.. Stick with the P&C if business is still growing for you. Once the life, health, and annuity business starts falling in your lap from conversations with your P&C clients, then find a mentor or look for an IMO that will help you with the case design and train/walk you thru any questions you may run into. Good luck with the new business though!!!
 
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