Rant About Training Agents Who Think They Know Everything

[jacobtn]

I took a guy who had no real insurance experience, and for a year gave him office space, use of my secretary, lead source and scripts, even let him replace some of my overpriced clients (Gerber Mutual etc.) for a 50/50 split because I get overwhelmed at times esp. during the AEP. For business that he got on his own (or walked into my office when I was unavailable) I put him at or near street with all carriers, ranging from 100-105 on FE and 18-19 on Med Supp, with him paid direct from carriers. Also split many cases with him where I basically did all the work while he was being trained, even wrote a $50,000 annuity and split comp with him.

Now that he knows everything (or thinks he does), he is ready to go out and try to conquer the world on his own, and recruit his own guys. How do you prevent this crap from happening? I don't view him as any competition, but pissed that he is retaining renewals he doesn't deserve and has wasted my time, training him so a year later he could walk.

I can see why guys put people on LOA contracts, although from an agents perspective of course I understand why it is unwise to sign them. It just pisses me off, but I have vindication in knowing that he is losing more than I am. Hell 90% of the business he wrote was during the AEP off walk-ins.

I'm about ready to quit fooling with agents, just sell on my own, pay my secretary and keep my 3200 sq ft office building that I own to impress my annuity prospects/clients. I just don't need the headache, not worth it!

 

[VolAgent]

Re: Rant About Training Agents Who Think They Know Everything...

Really, just do a better job of interviewing. I don't know you from jack, but most recruiters will sign up anyone who can fog a mirror. Then they wonder why they get disappointed.

 

[alicia]

Re: Rant About Training Agents Who Think They Know Everything...

Did you actually think he would stay with you forever? It's every man/woman for themselves. If I thought I could do better on my own, I would most likely do the same thing. Shake it off, it's not the end of the world.

 

[sman]

Re: Rant About Training Agents Who Think They Know Everything...

All I can say is karma.

 

[somarco]

Re: Rant About Training Agents Who Think They Know Everything...

 

[Rearden]

Re: Rant About Training Agents Who Think They Know Everything...

I can assure you my upline at Equita feels the same way.

I left after putting in 6 months and taking hands-on training.

The nature of the beast as an entrepreneur is that -- if you leverage other people -- you will be trading your sum-total of experience in the business (which is incredibly valuable) and bestowing it upon someone who doesn't has as much skin in the game as you. In the end, for the opportunity to earn more, you will be training your competition.

This occurs in all businesses in all industries. Did you have more invested in him than just a business? Is this personal to you? Did you see him more as an employee?

My father was trained in chemical sales, ran a company's sales division, got canned and restricted on a 2 year non-compete, then "took" a lot of his former employee's contracts.

The truth is is that you have to have a niche in hiring your people, much akin to who you take on as clients.

If you think back at his job history, upbringing, and personality, do you think you should have seen this coming?


-Dave

I took a guy who had no real insurance experience, and for a year gave him office space, use of my secretary, lead source and scripts, even let him replace some of my overpriced clients (Gerber Mutual etc.) for a 50/50 split because I get overwhelmed at times esp. during the AEP. For business that he got on his own (or walked into my office when I was unavailable) I put him at or near street with all carriers, ranging from 100-105 on FE and 18-19 on Med Supp, with him paid direct from carriers. Also split many cases with him where I basically did all the work while he was being trained, even wrote a $50,000 annuity and split comp with him.

Now that he knows everything (or thinks he does), he is ready to go out and try to conquer the world on his own, and recruit his own guys. How do you prevent this crap from happening? I don't view him as any competition, but pissed that he is retaining renewals he doesn't deserve and has wasted my time, training him so a year later he could walk.

I can see why guys put people on LOA contracts, although from an agents perspective of course I understand why it is unwise to sign them. It just pisses me off, but I have vindication in knowing that he is losing more than I am. Hell 90% of the business he wrote was during the AEP off walk-ins.

I'm about ready to quit fooling with agents, just sell on my own, pay my secretary and keep my 3200 sq ft office building that I own to impress my annuity prospects/clients. I just don't need the headache, not worth it!

It's funny -- I talked to my P&C agent and he used to run a team of agents. Got tired of lazy office staff and agents stealing from underneath him that he fired them all and has been flying solo for years now. I think he likes his profession a lot more now.

 

[ims01]

Re: Rant About Training Agents Who Think They Know Everything...

Bump his commission up so he has room to put new folks under him and tell him you'll help him recruit. That way you keep an override and he gets to accomplish what he wants. Just keep an eye on chargebacks. If your spread is narrow, one rolled up chargeback could wipe out your profit. But, if he already has business on the books, you have some protection.

 

[Frank Stastny]

Re: Rant About Training Agents Who Think They Know Everything...

I took a guy who had no real insurance experience, and for a year gave him office space, use of my secretary, lead source and scripts, even let him replace some of my overpriced clients (Gerber Mutual etc.) for a 50/50 split because I get overwhelmed at times esp. during the AEP. For business that he got on his own (or walked into my office when I was unavailable) I put him at or near street with all carriers, ranging from 100-105 on FE and 18-19 on Med Supp, with him paid direct from carriers. Also split many cases with him where I basically did all the work while he was being trained, even wrote a $50,000 annuity and split comp with him.

Now that he knows everything (or thinks he does), he is ready to go out and try to conquer the world on his own, and recruit his own guys. How do you prevent this crap from happening? I don't view him as any competition, but pissed that he is retaining renewals he doesn't deserve and has wasted my time, training him so a year later he could walk.

I can see why guys put people on LOA contracts, although from an agents perspective of course I understand why it is unwise to sign them. It just pisses me off, but I have vindication in knowing that he is losing more than I am. Hell 90% of the business he wrote was during the AEP off walk-ins.

I'm about ready to quit fooling with agents, just sell on my own, pay my secretary and keep my 3200 sq ft office building that I own to impress my annuity prospects/clients. I just don't need the headache, not worth it!

Time wounds all heels.

 

[rousemark]

Re: Rant About Training Agents Who Think They Know Everything...

Jacob: Just curious... How did you start in the business?

 

[Shalom]

Re: Rant About Training Agents Who Think They Know Everything...

I think it is lame that he did this, I wish I had the opportunity to have what he is leaving.

I took a guy who had no real insurance experience, and for a year gave him office space, use of my secretary, lead source and scripts, even let him replace some of my overpriced clients (Gerber Mutual etc.) for a 50/50 split because I get overwhelmed at times esp. during the AEP. For business that he got on his own (or walked into my office when I was unavailable) I put him at or near street with all carriers, ranging from 100-105 on FE and 18-19 on Med Supp, with him paid direct from carriers. Also split many cases with him where I basically did all the work while he was being trained, even wrote a $50,000 annuity and split comp with him.

Now that he knows everything (or thinks he does), he is ready to go out and try to conquer the world on his own, and recruit his own guys. How do you prevent this crap from happening? I don't view him as any competition, but pissed that he is retaining renewals he doesn't deserve and has wasted my time, training him so a year later he could walk.

I can see why guys put people on LOA contracts, although from an agents perspective of course I understand why it is unwise to sign them. It just pisses me off, but I have vindication in knowing that he is losing more than I am. Hell 90% of the business he wrote was during the AEP off walk-ins.

I'm about ready to quit fooling with agents, just sell on my own, pay my secretary and keep my 3200 sq ft office building that I own to impress my annuity prospects/clients. I just don't need the headache, not worth it!