New P and C Agent Needs Advice

[akarusso]

A retail space is a waste of money. Get focused on your value and get prospecting. The people you want to talk to are not going to walk into your office and ask for a quote.

That is what I always said to my self, but you sometime second guess your self.
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I also ran in to an issue with a client recently. I handle his insurance for this 12 family building. He asked me to look in to his business general liability insurance. I know that he is a roofer, but he insisted on telling me to write him as painter. WTF. I tild him that I can not do that. It fraud and I can loose my lisence. He was not happy. Lets see if I loose him as a customer.
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What about buying an existing book?

 

[Josh]

I'm biased on the whole cold calling thing because I've been doing it for years and now even sell this lists and dialer seats, but I'd be willing to bet the reason why you're cold calling on personal lines bit the dirt had more to do with the (lack of) training than anything else. I'm from NY, albeit upstate, but we do respond differently.

This week I spoke with a P&C agent that did VERY well for himself in Brooklyn, if you want to shoot me an e-mail I can ask him to reach out to you and he may be able to give you much more specific advice when it comes to personal lines business and how to grow that.

As far as the commercial goes, again, I think cold calling makes a ton of sense, but you've got to be prepared to take abuse. I put up a short, but fairly helpful article on cold calling on my website that you might find helpful as well.

 

[Bertolinoins]

Find a niche where you can compete and hit that niche very, very hard. Telemarket, direct mail, drop ins, get active in the industry association, etc. Once you have saturated that industry continue to drip on them while you do the same thing with a new niche... repeat until you have 4/5 niches with good premium volume, a large number of prospects and some insurance needs that not every agent in the world can provide.

Contractors
Trucking/towing
HOA's
Apartments
Car Dealers
Manufacturing
Food mfg and distributors
Hotels/Motels
Etc

Pick a few stable industries that you direct
carriers can truly compete on and go get after them. If you can't write $500,000+ per year in new premium then you need to move on to a different niche.

 

[OCinsurance]

I'm always surprised when people say retail space is useless. I have a retail space and it as helped us with some walk in traffic for both personal and commercial. It has definitely helped our surety business as well.

I say this, but we also have many calls ins that buy in other states.

 

[djs]

I used to have retail space and I did get some walkin traffic. Not near enough to pay for the extra overhead though. Now, with good signage, I can see where it would help with the surety business. Most people have no idea where to go, seeing a sign would be a good indicator!!! Hopefully, you don't get to many people looking for bail bonds

I think insurance companies do well in houses that are on a main drag that you can get good signage for. Some cities it works, some it doesn't. If it looks like an office where people don't think twice about pulling in, it seems to have the right atmosphere, at least to me. It psychologically says "Welcome Home", I guess.

Dan

 

[akarusso]

Find a niche where you can compete and hit that niche very, very hard. Telemarket, direct mail, drop ins, get active in the industry association, etc. Once you have saturated that industry continue to drip on them while you do the same thing with a new niche... repeat until you have 4/5 niches with good premium volume, a large number of prospects and some insurance needs that not every agent in the world can provide.

Contractors
Trucking/towing
HOA's
Apartments
Car Dealers
Manufacturing
Food mfg and distributors
Hotels/Motels
Etc

Pick a few stable industries that you direct
carriers can truly compete on and go get after them. If you can't write $500,000+ per year in new premium then you need to move on to a different niche.

I would not know the first place to start.

 

[mywaytotalk]

Sounds like you have beat yourself. You have to kick yourself in the pants, surround yourself with a few people that will help get you refocused and will keep you accountable and get to work.

 

[akarusso]

The big problem I have is I am alone in an office. No one but me anf my thoughts.

I need direction. I am like a an energizer bunny wound up but being held.
I have tried the pesonal lines and i cant deal with customers fighting with me over a dollar. Personal lines customers could not care about value. They treat insurance like a commodity. Buy the lowest and hope its there when you need it. I have found my commercial clients are to busy to nickel and dime you and they actually appreciate an agent.

 

[VolAgent]

The big problem I have is I am alone in an office. No one but me anf my thoughts.

I need direction. I am like a an energizer bunny wound up but being held.
I have tried the pesonal lines and i cant deal with customers fighting with me over a dollar. Personal lines customers could not care about value. They treat insurance like a commodity. Buy the lowest and hope its there when you need it. I have found my commercial clients are to busy to nickel and dime you and they actually appreciate an agent.

There is your answer. Forward the office line to your cell. Set aside 4 hours a day and pound the pavement. Spend the rest of the day on service issues and making calls to follow up.

 

[Sales71]

I am about to leave my retail space and work from my home office it will save me $15K a year...