Starting a Commercial Insurance Agency from Scratch Advice Needed

alwaysbelearning1

New Member
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Hi everyone, I'm excited to be a part of this forum so I can learn from some of the best minds in insurance.

I'm working my fulltime job in tech sales right now and saving cash to start a business in the next year or two. I've been licensed for some time now. While I'm doing this I'm creating a plan that I can execute on, which entails starting a Commercial P&C Insurance Agency.

My biggest question right now is ensuring constant lead flow/new business acquisition. Everything can be learned on the fly, and even planned for. But I'm not sure how I'd go about getting new commercial insurance leads consistently month over month.

I know people have said network, cold calling, and going to events are some strong ways to get new business, but I need something more consistent. Do you guys buy commercial insurance leads from some sort of lead generation provider?

It's a numbers game, and I have a strong sales background so I need constant lead flow or I'm not running a business. I also want insights from anyone who's succeeded here on longterm outlook. I want to get in this with the intention to create wealth over time and make a lot of money.

In addition to getting constant new business and leads, what's been your success story in scaling your agency? I see real potential to build wealth as a business owner in insurance rather than just a W2 employee. Thank you!
 
Then you are already a licensed agent with a customer base of some sort?
I have no customer base at all. I worked various personal lines agencies in the past but trying to start a commercial agency from scratch.


Do you have know how to consistently get leads/ have you done this before?
 
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New customer flow, leads, and filling up your pipeline is the easy part right now. The tough part is finding a home for the business. Most markets are very tight right now and property capacity especially is very limited. Won't even touch on commission percentage reductions and the gutting of profit sharing. It's very bad timing to initiate this business plan. You are also going to need a strong CL veteran at the helm if you even stand a chance, as it's become a very complicated arena.
 
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