Requesting Help/References...New P&C Division of Well Established Medicare Agency

[Carlo D]

I have been in the retirement planning/life insurance/financial advisor field for about 10 years now and I'm transitioning to a unique role of starting a P&C division within an agency with 26 years experience in the health insurance (mostly medicare) space and has about 13,000 clients in that space currently.

I think we've decided on the cluster we'll be going with, but my biggest concern is obviously my experience in a brand new arena. Our clientele will mostly have very basic needs in home and auto bundling, but as with anything new, it's always more complex than initially planned.

Does anyone know of any retired P&C agents or any companies that offer consulting services for startup agencies?

Thanks so much for any help that can be provided!

 

[marindependent]

Consulting?
I'd start off by asking which cluster you are working with.
A good cluster will get you part of the way there.

Second, do you have ANY P&C Experience? If not - red alert - caution. I would never advise someone to start a Coffee Shop with no retail / barista experience and the same is true of P&C Insurance. It is a lot harder than it looks. For the record in my opinion there really is no such thing as "basic... home and auto bundling" -its a fallacy that the Gecko and Flo want you to believe.

Third if all of this is accurate - my guess is that you will spend more in "consulting fees" than you will likely make in the first several years.

Wish you the best of luck.

 

[Markthebroker]

Having someone start a division in something they have no experience with, even if they imagine that it's going to be simple, is a terrible, terrible idea as mentioned earlier.

Not only are you going to lose the home and auto sale fumbling around, many of those people will decide to stop doing business with your office entirely.

 

[fed up]

You also need to prepare yourself for finding out that the customers whom you have reached out to about your new en devour have moved their financial business to their P&C company. It rarely works the other way around. Bundling sounds great but I know from experience that a majority of customers I have reached out to in an effort to bundle home and auto have moved their monoline policy away from the agency I represented