New Agency, Veteran Agent!

Jun 9, 2016

  1. iris.mcginnis11

    iris.mcginnis11 New Member

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    Hello all! I am new to the Forum, and I am in the process of starting a new Agency. I have quite a few areas of concern and uncertainty, however, I will only discuss a few.

    Short background...I started working in the Industry in 1996, writing and servicing auto only. Once the company was sold, I moved around to different Agencies trying to find a perfect fit for me. Over the next few years, I learned the Independent side of the business and was finally licensed in 2005. Since then I've Managed a few offices and ended up landing a job at Nationwide through a sales contracting company. Well about four months of successful selling and getting a promotion to Management for all of my "excellence" as an employee, things took a turn for the worse! We learned that July 15, 2016 would be our last day with Nationwide. I had had enough! So I decided that the only person that would determine my destiny, my future and my finances from now on would be me. I decided to begin building my own Agency.
    So here it is 2 and a half weeks into planning and 1 month before my last day of employment, I am still trying to get my Agency licensed and to obtain more appointments to even begin to offer the general public any quotes.

    1. I've been an Insurance Agent for nearly 20 years, I've been appointed with and written business for an enormous amount of carriers, within my 19 years of employment. However, it is still hard to get new appointments with these same companies on my own. Also, I mistakenly failed to retain "start up" capitol to carry me while I build. So does anyone know of a good MGA that will accept me with a lower fee?

    2. I reside in Texas, however, I am licensed in 46 other states and would like to continue doing business in most of those states (except NY, MI, PA, FL, and OK). These states either have complicated rules and regulations, heavy loss ratios, or very little regard for tenor. So, do I just need to discuss that with the MGA that will eventually accept me? Or does anyone know a different route that I need to take in order to market and sell insurance in all of the desired states?

    In conclusion, I do have direct appointments with a few companies already. Like Texas Fair Plan, Texas Windstorm, a commercial company for commercial clients and a couple of auto carriers. My question is, should I go ahead and start placing clients with these companies? Or wait until I obtain more appointments to add to my website?

    All serious suggestions and tips are welcomed. Thank you for your time.
  2. shawnmwalker

    shawnmwalker Guru

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    Call Duan Nash in San Antonio. Once with Nationwide now Indy, He'll have some good advice for you.
  3. insurance1822

    insurance1822 Guru

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    ummm....for all the years experience you have & your supposed do you lack capital? There's really no excuse all.