New in Biz in FL w/General lines, Life & health

Dec 5, 2007

  1. Boxer3246
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    Boxer3246 New Member

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    I am in South FL looking for advice to my first move in insurance. Transitioning from the mortgage underwriting world, I just acquired my life,health & VA in October & general lines agent (2-20) in december. I have been an investment broker in the past so marketing/gathering leads is not a problem for me. Also was a bank manager for wachovia so cross-selling, is also well known to me. I also have my mortgage broker license.

    I am not sure what my first step needs to be to maximize the usage of my insurance licenses. I would expect to focus on the life insurance ( I have sold fixed & variable annuities in the past) & P & C (w/the general lines license), but want the option to do other business or know enough to refer them if I cant do it.
    What kind of base salary can I expect with these to start with? Any names of companies that would seem like a good fit would also help. Anything to look for when getting hired;training programs non-compete,commission structure;residuals is also much needed and welcome advice.

    Thank you.
     
  2. djs
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    djs Super Moderator Moderator

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    Welcome to the wonderful world of insurance! This career seems like the growth pattern for a lot of mortgage brokers lately.

    This will be different than your used to with mortgages, where you had relatively low quantity, but high per per transaction. Here, it's higher quantity, but lower $$$ per deal, especially true if you're in the P&C side. If you focus on P&C, it's really about residuals.

    I have no idea how to answer your questions above, since most of it has to do with what YOU want to do. There are many paths to success, but you pretty much have to pick a path that is attractive to you, not everyone else.

    The advice I will give is to pick one area, and focus on it until you know it well. It's hard to do everything all at once. As a mortgage broker, you didn't try to do residential, commercial, reverse mortgages, etc, etc all at once, you needed to focus on one area, develop a clientele in that market and work on it. This is very true in insurance as well, you almost have to pick sides for the early days, whether it's health or P&C or one of the many other niche markets. Spend a while becoming the best at that, and then add a related product, and become the best at that, etc.

    Good luck! I can't give any advice on what companies to work for, since I don't know the Florida market.

    Dan
     
    djs, Dec 5, 2007
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  3. NWInsurance
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    NWInsurance Expert

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    P&C is also about winning daily!

    Work with me here, with P&C you must sell much more because the premium is much lower, but you have the ability to WIN DAILY. Some other products, to include the Loan Business may not give you that same surge. For instance if you are in the commercial loan business you may do a deal 1 time per year and make tons of money and be fine. You may do a few deals per year, etc. Not everyone is cut out for that as while you are waiting for the next deal you may not have any victories to celebrate.

    The reason that I am in the P&C business (Besides the long term benifit) is that I need that daily-weekly victory. I would not do good as a life only Agent for instance because of the feast or famine that sometimes goes with it.

    If you sell the product that fits you, and your personality, and your level of confort you will do the best. Even if I have a bad day today, I can have many victories tomorrow etc, and although they are small they add up, and keep me motivated.
     
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