Starting off as an Independent Agent
- Thread starter Shmitty
- Start date
Go here:
Job Board - Job Seekers
This is the web site of the association of independent insurance agents in Texas and this page is for job seekers. Independent agencies are always looking for good producers.
Job Board - Job Seekers
This is the web site of the association of independent insurance agents in Texas and this page is for job seekers. Independent agencies are always looking for good producers.
Orion1
Expert
- 35
Having recently gone through the agency startup process up in CT.
It's not easy.
You will need a cluster/MGA
It is likely better for you to work for someone else.
It's not easy.
You will need a cluster/MGA
It is likely better for you to work for someone else.
jaygreen002
Super Genius
- 114
It all comes down in your own needs and goals. As for going into an independent agent, you may tend to make a higher income, but at a higher risk. But if you'll go into a captive agent, your have more stability and support, but with stricter limitations.
Warrior
Super Genius
- 150
Find a large independent agency. You can find them through trusted choice. Or IAOA. When you write through an independent agency, they will train you and help you build your book. When I was a captive agent, I found an independent agency. He was a multi million dollar agency. He allowed me to keep my office, have my own business name and keep my book of business. I get to quote from over 20 top companies P&C and Commercial and over 50 top Life companies. I only pay him 15% of my sales. He pays for my E&O, EZLYNX and my website quoter. The only thing I pay for is my office tent, and insurance for my business and any staff I hire. It's a very fair deal and I can sell as much or as little as I want. I really wish I would have started from the beginning with him. DON'T SELL FOR A CAPTIVE. Because if you ever choose to go independent, you will have to wait 1-2 years to get all your customers back into your book. With a captive, your clients, your relationship you built with them, all get to go into the company account and you lose or on all that hard work and have to start from scratch again. Going the independent route and through another big independent agent would be better for you in the long run.
Warrior
Super Genius
- 150
He took me on and allowed me to keep my office I had when I was a captured agent. He knew I had insurance experience. What he does with new folks who never sold insurance before, is give them office space in his office and teach them how to run quotes, how to prospect etc. Once he sees the goals are being met, he will let that person sty in his office, or let him go get his own office. So, I am thinking that he probably would not have a person out of state as he would not be able to teach him and have others in his office help you if he and when you needed help. GO check with Trusted Choice agents. I am a member. I know there will be an agent willing to take you on and teach you. Insurance is ever changing. But learning how to prospect, present, close and sell your policies is priceless and will follow you forever as the insurance laws change. You need to be with an experienced person to lead you to success. Before you go out on your own.
These are the things that you would have to pay to go out on your own:
1. E&O Insurance
2. Office Rent. You cannot run an agency from your home
3. Utilities (Phone, internet, electricity, water,)
4. triple net (if it applies to the office space your renting)
5. Insurance for your office
6. Marketing ($500 - $5000 a month)
7. Office Equipment (Desks, Phones, Chairs, Guest chairs, Computers, Copy/Print/Fax machine, Coffee Pot, Refrigerator, Soda and water for guests, toilet paper, paper towels)
8. Signage (outside your business and inside your office)
9. Association dues (BBB, Chamber of Commerce, Rotary Club, Big I, etc. )
10. Website (to include a quoting form)
11. Rater (EZLinx)
12. CRM (EZLinx)
13. Office staff (front office person to answer phones and great guests to start, then as you grow, get a marketer who can bring people into the door, then as you grow more sales staff)
14. CAPITOL $$$ (You need at least $50k or more to afford everything above and to pay for staffing for 6 months while your building your mini empire)
That's why some have said to start as a captive 1st. But I say, start with a Successful Independent Agent 1st and save your money. It takes 2-5 years to grow a successful agency that brings in profits to bring home to your pockets. With hard work (working 15+ hour days, 5-6 days a week, you will be successful.
These are the things that you would have to pay to go out on your own:
1. E&O Insurance
2. Office Rent. You cannot run an agency from your home
3. Utilities (Phone, internet, electricity, water,)
4. triple net (if it applies to the office space your renting)
5. Insurance for your office
6. Marketing ($500 - $5000 a month)
7. Office Equipment (Desks, Phones, Chairs, Guest chairs, Computers, Copy/Print/Fax machine, Coffee Pot, Refrigerator, Soda and water for guests, toilet paper, paper towels)
8. Signage (outside your business and inside your office)
9. Association dues (BBB, Chamber of Commerce, Rotary Club, Big I, etc. )
10. Website (to include a quoting form)
11. Rater (EZLinx)
12. CRM (EZLinx)
13. Office staff (front office person to answer phones and great guests to start, then as you grow, get a marketer who can bring people into the door, then as you grow more sales staff)
14. CAPITOL $$$ (You need at least $50k or more to afford everything above and to pay for staffing for 6 months while your building your mini empire)
That's why some have said to start as a captive 1st. But I say, start with a Successful Independent Agent 1st and save your money. It takes 2-5 years to grow a successful agency that brings in profits to bring home to your pockets. With hard work (working 15+ hour days, 5-6 days a week, you will be successful.
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