This Is My First Post -please Be Gentle

[djs]

I buy a coffee every morning from Mcdonalds and it's right across the street from our agency all those kids should have there car insurance with me

Be careful what you ask for

 

[DiegoInsGuy]

Thats true. Business is business right now. Thats what progressive and Viking. HAHAHA kidding

 

[DEGRI]

Thanks for the support, Xrac and Eddie -- means a lot to me. Leaving a solid income with benefits to go independent agent is scary. But again, I have saved 5 months of living expenses to get me through if I didn't make one red cent. If after a few months I am not cutting it (I am my own competitor), that will give me enough time to find another job in the field I am currently in.

 

[easylife]

You seem like a wonderful person who has paid her dues and is ready to excel. I believe you can do it. I am more encourged by the fact that you get leads by word of mouth. Are you capitive to the agency? It sounds like writing some final expense your license is active do you contract life through your P&C Agency? Are you allowed to write a client who walks in the office an auto policy and then a life or accident type policy? If so do you split the commissions? I want to answer you, but would need first to know the answers to the questions. Look forward in hearing back.

 

[todd02]

Not sure if this was mentioned but you also have to be writing through a company that is competitive in your area. If you don't have good rates you wont make squat... Good luck!

 

[Chevarian113]

Degri, your posts are excellent information, and I am extremely happy for you in making the leap of faith. Your personality seems to be just right to make it well.

I have a question for your setup that you are starting with... Are you doing a commission split with an agent, or are you working with an MGA? If with an agent, what sort of split are you seeing? I am in a very similar situation, only working for another P&C company, very strongly considering going on my own, due to UW guideline chops for my company in my area. I am just curious as to what sort of financial arrangements others in a situation like yours and mine experience.

Your input is greatly appreciated!

 

[DEGRI]

Hi, Ed and Jason:

Thank you for the encouragment. Yes, I've made the leap of faith, and, fortunately, have hit the ground running.

On the P&C side, I am getting a 50/50 split with the Broker who owns the agency. In exchange, I am getting great training, free office, no overhead re: office expenses.

On the Life, Health, Accident, CI, Indemnity plans, I am getting the whole commission. Some companies I take advances, the others "as earned" if there is a high likeliness of the business going bad (lapse/nonrenewal, etc.)

Whatever you do, if you are working under a broker or any other entity above you, get in writing what happens to your book of business if/when you decide to go out on your own.

There are quite a few very helpful peopleon these boards who can get you appointed with various insurers (who may otherwise turn you down if your volume isn't high enough). These people will pay 100-105% on average, and they also provide training.

Good luck to you!

DEGRI

Degri, your posts are excellent information, and I am extremely happy for you in making the leap of faith. Your personality seems to be just right to make it well.

I have a question for your setup that you are starting with... Are you doing a commission split with an agent, or are you working with an MGA? If with an agent, what sort of split are you seeing? I am in a very similar situation, only working for another P&C company, very strongly considering going on my own, due to UW guideline chops for my company in my area. I am just curious as to what sort of financial arrangements others in a situation like yours and mine experience.

Your input is greatly appreciated!

 

[DEGRI]

UPDATE! This Is My First Post -please Be Gentle

Just bring you up to speed. I decided to leave my full-time job with great benefits, perks, etc. to work as an IA full-time.

I gave my notice a few days after I made the original post. In the past week, AFTER work, I have managed to sell 4 auto policies, 1 homeowners and 1 commercial livery policy! I love it!

I AM SO PUMPED UP...Just saved a woman $714.02 per year in auto insurance. She will be paying the same for a whole year that she USED TO PAY for just six months. I also saved a limo driver over $4,000 in annual premium! It makes me feel so great to hear relief in their voices!!!

Feels good to be out on my own again. I have one more week at the full-time job and then I am on the loose!

DEGRI

 

[Guest]

ANd thats hows you do it, BUT, that money you saved them, Flip some of it into life policies or something other products to benefit them.

They will say, I always knew I needed that, but didnt have the money for it, well, now they do.....

and remember.........ASK FOR REFERRALS!!!!!

 

[DEGRI]

RBA, you hit it on the head...cross selling and REFERRALS are the name of the game. A referral is better than a hot lead any day in my opinion.

Wiith 2 of the autos policies I sold, I am going to be getting their homeowners as well...and one life...

Thanks, "Dude."

ANd thats hows you do it, BUT, that money you saved them, Flip some of it into life policies or something other products to benefit them.

They will say, I always knew I needed that, but didnt have the money for it, well, now they do.....

and remember.........ASK FOR REFERRALS!!!!!