Ninety-Two Percent of All Agents Fail - Why?

[Hollywood]

There would be more success if insurance carriers advertised with a message the builds the value of an agent as opposed to debasing the agent with cheap BS campaigns.

There would also be more success if the insurance industry were structured more like the positive aspects of the banking industry.

Ask many long time agents or financial advisors whether they would do it if they had to start today and what would they answer?

Everyone thinks the problems lie from the bottom up with the agent or other insurance professional. It's from the top down with moronic executive management.

 

[Glad2bHere]

Very much agree, Gentlemen!! On another thread I took a bit of a beating for my "whining" and not accepting responsibility for my own efforts. Try as I might I wasn't able to get others to appreciate that success in the INsurance (or Banking) industry is not a one-way street.

I believe strongly in the American Work Ethic, but that ethic seems to have undergone a shift from what I recall it being. Growing up people worked for a firm and were proud of it. That translated into givng the very best that one could give their company. In return, the company had your back through good times and bad.

What I have witnessed in the last few months is a tendency of the Company to see hard work as an entitlement and the agents as "disposible". The companies DO talk a good "line" but I see no evidence that the average applicant has anything but the narrowest of chances to achieve the sorts of results that are touted.
a.) IMHO I believe that "churn-and-burn" is the common business model and I believe that not to reveal this fact borders on Fraud for the Employment-Seeking public.
b.) There is no intelligent reason why the corporations cannot provide lead material out of the billions in profits that they make each year. This includes the various "service fees" that are charged to clients.
c.) There is no intelligent reason why the newbie agent is required to shoulder all risk, responsibility and expense. The company can "cherry-pick" who they will insure and this directly impacts the agent. This seems very much as a lose-lose situation for the agent-to-be.
d.) People who are well-connected need only land a few large accounts to get on-board. The Middle Class applicants who seek-after employment are at a distinct disadvantage. Perhaps a disclaimer that only well-heeled and well-born individual need apply should be in place.
Just some varied thoughts.

Best Wishes,
Bruce

 

[Norwayguy]

Very much agree, Gentlemen!! On another thread I took a bit of a beating for my "whining" and not accepting responsibility for my own efforts. Try as I might I wasn't able to get others to appreciate that success in the INsurance (or Banking) industry is not a one-way street.

I believe strongly in the American Work Ethic, but that ethic seems to have undergone a shift from what I recall it being. Growing up people worked for a firm and were proud of it. That translated into givng the very best that one could give their company. In return, the company had your back through good times and bad.

What I have witnessed in the last few months is a tendency of the Company to see hard work as an entitlement and the agents as "disposible". The companies DO talk a good "line" but I see no evidence that the average applicant has anything but the narrowest of chances to achieve the sorts of results that are touted.
a.) IMHO I believe that "churn-and-burn" is the common business model and I believe that not to reveal this fact borders on Fraud for the Employment-Seeking public.
b.) There is no intelligent reason why the corporations cannot provide lead material out of the billions in profits that they make each year. This includes the various "service fees" that are charged to clients.
c.) There is no intelligent reason why the newbie agent is required to shoulder all risk, responsibility and expense. The company can "cherry-pick" who they will insure and this directly impacts the agent. This seems very much as a lose-lose situation for the agent-to-be.
d.) People who are well-connected need only land a few large accounts to get on-board. The Middle Class applicants who seek-after employment are at a distinct disadvantage. Perhaps a disclaimer that only well-heeled and well-born individual need apply should be in place.
Just some varied thoughts.

Best Wishes,
Bruce

You still don't get it your not going to have the income potential we have and have the carrier feeding clients on a treadmill anyone can close sales WE get paid to get in front of people. If you want a job where the company spends its money putting the client in a chair on the other side of your desk then expect to earn $10 an hour.

 

[WinoBlues]

J.O.B

..............

Very much agree, Gentlemen!! On another thread I took a bit of a beating for my "whining" and not accepting responsibility for my own efforts. Try as I might I wasn't able to get others to appreciate that success in the INsurance (or Banking) industry is not a one-way street.

I believe strongly in the American Work Ethic, but that ethic seems to have undergone a shift from what I recall it being. Growing up people worked for a firm and were proud of it. That translated into givng the very best that one could give their company. In return, the company had your back through good times and bad.

What I have witnessed in the last few months is a tendency of the Company to see hard work as an entitlement and the agents as "disposible". The companies DO talk a good "line" but I see no evidence that the average applicant has anything but the narrowest of chances to achieve the sorts of results that are touted.
a.) IMHO I believe that "churn-and-burn" is the common business model and I believe that not to reveal this fact borders on Fraud for the Employment-Seeking public.
b.) There is no intelligent reason why the corporations cannot provide lead material out of the billions in profits that they make each year. This includes the various "service fees" that are charged to clients.
c.) There is no intelligent reason why the newbie agent is required to shoulder all risk, responsibility and expense. The company can "cherry-pick" who they will insure and this directly impacts the agent. This seems very much as a lose-lose situation for the agent-to-be.
d.) People who are well-connected need only land a few large accounts to get on-board. The Middle Class applicants who seek-after employment are at a distinct disadvantage. Perhaps a disclaimer that only well-heeled and well-born individual need apply should be in place.
Just some varied thoughts.

Best Wishes,
Bruce

 

[Glad2bHere]

Sorry, Norway et all.... I don't think I can make it any clearer than I have over two separate threads.

a.) I expect to work hard.

b.) I expect to carry my share of the load.

c.) I expect that the company will carry THEIR share of the load.

d.) As far as I can tell the company gets all of the benefits and I pay all of the costs. F-that.

Best Wishes,

Bruce

 

[Norwayguy]

I think the problem is you expect the carrier to be doing things that they will not be doing. They do take on their own set of risks in regards to the business you try and place. First they foot the cost for underwriting ie paying for the paramed, aps etc with no guarantee the client will even take the policy let alone keep paying the premiums for years so they can break even.

They also take on the risk with your advances there are many "uplines" on here that can tell you about getting stuck with agents who write a bunch of business take their advances and then disappear with the policies quickly falling off the books.

You have 1 legitimate gripe and I'm with you on it that people recruiting paint a rosy picture and they don't talk about what needs to be done in this business.

 

[Glad2bHere]

BINGO!! 100% correct!!

I have a brother who really gets under my skin with his fanciful tales of how to make a quick buck. We always know when he goes into one of these tales because he always starts with the same words: "Its easy- all ya gotta do is..."

What I have found is that life is much more like "the recipe for Tiger stew

Step One: Catch a tiger. ......"

Now I like "tiger stew" as much as the next guy. What I resent is making the stew and having a lot of people I don't know show-up to ladle stew into their own bowls.

Best Wishes,

Bruce

 

[pcbinsurance]

"a.) IMHO I believe that "churn-and-burn" is the common business model and I believe that not to reveal this fact borders on Fraud for the Employment-Seeking public".
***********************************************

Do you really think you are doing a public service by stating the above? It's a decades old, well known fact that Companies have been doing this for decades. It won't change and I'm surprised if you didn't do your homework on this before venturing into this industry.

 

[Glad2bHere]

Oh I knew....and I asked....and was told this was not the case anymore. How does one take care of themselves if even asking the right questions and getting lies in return is of no avail? I wonder if people are reading these exchanges and wondering how there could be aqny chance of individual success in the face of such misrepresentation. Thoughts?

Best Wishes,

Bruce

 

[pcbinsurance]

You asked the wrong people. One trip around this Forum would have answered all the questions you may have had.

The past is gone----now look to the future and what your plans are. With your background and education, along with a more positive attitude, you could do well as an independent. Again, search the many threads on this Forum and develop your independent plan.

Good Luck!