Production Requirements

[secondcreek]

How much production do P&C carriers expect from an independent agent to keep their appointment?

As a captive agent, I am producing low $200s in combined home and auto premium. Would this and a couple of years experience give me a legitimate shot at securing the top companies as an independent agent?

 

[Bertolinoins]

The carriers I work with are looking for $100-300k in premium within 12 months and $300-500k within 36 months.

 

[djs]

There are several more factors you have to consider as well, though volume commitment is the first big step.

- What is your loss ratio? Or, more importantly, are you profitable?
- Do they need more agents in your area?

Production is within your control. This is a key item.

Loss ratios, overall, are somewhat in your control, but 1 or 2 big losses can wreak havoc on them. You'll have to explain that.

Needing agents or not simply isn't in your control. Some companies will always appoint if other requirements are met, some won't if they feel they have enough agents in the area.

Just all depends....

Dan

 

[ra2783]

If you are a P&C sub-producer at an agency, are there minimum production requirements as well or do they apply only to the agency owner?

 

[NCAgent]

If you are a P&C sub-producer at an agency, are there minimum production requirements as well or do they apply only to the agency owner?

They apply to the agency owner, so indirectly they apply to you as well. If the agency owner feels you aren't worth keeping, the you lose the appointment anyway.

 

[Guest]

If you are part of a cluster, then you really dont have any.....

 

[iiinycboi]

From all the 300 carriers that i cold called lol they range from 100k-300k volume commitment, with a certain loss ratio.

 

[insurancemansam]

It depends on how competitive the company is. The companies know if they are or not. If you don't give very competitive companies good volume you will get canned quick. I have Hartford in MN and they are not competitive at all. They know this and have no expectations at all if loss ratio is OK.

 

[Denise509]

It depends on the company. Most non-standard don't really have any, they say as long as you write at least a couple of apps a month they'll be happy.

 

[warrenins]

Depending on the company you contact, low 200's could probably get you an appointment with expectation of future production. Something to remember is, they look at your numbers but they are also forming opinions about you. Sell yourself and your ability. The marketing rep talking to you has to feel good about his or her decision because their boss will be looking at the appointments they make and the production they are getting out of those.