Not Everyone Should Be an Insurance Agent....

Ok guys I am actually in my 1st year of a new agency. I worked for another retailer for over a decade and realized that if I can make money for someone else why can't I do it for myself. I just wish I had taken this step a few years ago while the market was hot.

However, the hardest point for me at the moment is getting appointed with carriers. I can't offer them a book roll nor had dealt with any direct carriers dealing while I was at the old agency. We only dealt with GA or MGA and used their resources. But almost all of them have similar markets and all take their own time to get stuff quoted. So, I approached the siaa and they in turn had a rep called me from a local cluster group saying that she can help but didn't really tell me the fees associated with their service nor the contract basis and said that I should come see her in person so we can discus further.

So my question is since you guys have dealt with them and now how they function can you tell me how is their commission structure? How do they get you appointed? Why should an IA need them? Do you still own your book of business or need their permission before selling?
 
nyagent31 said:
Ok guys I am actually in my 1st year of a new agency. I worked for another retailer for over a decade and realized that if I can make money for someone else why can't I do it for myself. I just wish I had taken this step a few years ago while the market was hot.

However, the hardest point for me at the moment is getting appointed with carriers. I can't offer them a book roll nor had dealt with any direct carriers dealing while I was at the old agency. We only dealt with GA or MGA and used their resources. But almost all of them have similar markets and all take their own time to get stuff quoted. So, I approached the siaa and they in turn had a rep called me from a local cluster group saying that she can help but didn't really tell me the fees associated with their service nor the contract basis and said that I should come see her in person so we can discus further.

So my question is since you guys have dealt with them and now how they function can you tell me how is their commission structure? How do they get you appointed? Why should an IA need them? Do you still own your book of business or need their permission before selling?
Click to expand...

Have you read through these posts?

http://www.insurance-forums.net/for...ent-discussions/smart-choice-siaa-t25693.html
 
scooter33 said:
Some reasons why I think people fail...
-They do this just for the money
-They do this so they can have more free time with friends and family
-They think it is easy
-They do this because they are good in sales
-They under estimate how much money it takes to start
...So, if you have any questions about becoming an insurance agent....ask. I am an open book!
Click to expand...

  1. So...you NOT in the Insurance Biz to make Money?
  2. If Money is not your primary motivation, What is?
  3. What drives you to sell insurance?

thanks for the thread idea...good one!
 
Todd Preston said:
[*]So...you NOT in the Insurance Biz to make Money? [*]If Money is not your primary motivation, What is? [*]What drives you to sell insurance? thanks for the thread idea...good one!
Click to expand...

We're all in it to earn a living, but if you put money ahead of the clients needs then you're doing it for the wrong reason. I think that's likely the point he was making.
 
sman said:
We're all in it to earn a living, but if you put money ahead of the clients needs then you're doing it for the wrong reason. I think that's likely the point he was making.
Click to expand...

I totally agree with Sman. I think people get into the insurance business to get rich and make tons of money. If that is your only reason for getting into the business, you will fail, along with the majority of others.
 
xrac said:
Too many people want a pay check but do not know how or lack the desire to really work hard.
Click to expand...

Too true X,

I myself was guilty of this and only really started to see success after becoming one of the first people to arrive in the career office and being one of the last to leave.

To all those doubting becoming an insurance agent, I would just say that this board projects a you must be awesome within 2 weeks mentality sometimes. I'm coming up on my 8th month in the business now, and its only really been in the last two months that I've felt that I've hit a stride and am putting in good AP production.
 
 
nyagent31 said:
Xrac this thread only had 4 threads and it lead to siaa being a good choice but I was wondering if the book of business is yours or do they control it like the captives?
Click to expand...

They don't control your book, it's your business and you do what your want with it. However, when it comes to sell... You owe them a 1/4.
 
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