Veterans....Please...need your input!

Oct 12, 2007

  1. TonyC
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    TonyC Guru

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    I appreciate the "vetran pro input" on this board....thanks guys!

    I am a Newby....and I am looking at selling either

    1) Health and Life
    2) P & C
    • What are the pros and cons for selling each type?
    • What are the reason you choose to specialize in your "present specialty?
    thanks in advance!

    ~Tony:)
     
    TonyC, Oct 12, 2007
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  2. djs
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    djs Super Moderator Moderator

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    Tony

    It's more in what you are comfortable with, rather than one being better / easier / more profitable than the other.

    neither are get rich quick schemes, it takes time to build up a client base, time to learn how to present the different plans/options, time to learn how to listen to what the client is saying.

    You'll find almost every P&C person has a health & life license, primarily to write life. Most health agents don't bother to get a P&C license. Also, more and more P&C agents are getting into financial services, so it can get to be pretty complex.

    P&C generally has a higher startup cost, needs an office and an administrator. A lot of health guys start out working in their house. P&C tends to have better residuals, but health isn't bad.

    It really is more about your approach, your goals, much more than the product itself.

    Dan
     
    djs, Oct 13, 2007
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  3. MIBizInsurance
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    Pretty much what Dan said.

    There is no easy route.
     
  4. TonyC
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    Thansk Guys....


    Question: What conditions are fosterting P&C guys into Financial Services?
     
    Last edited: Oct 14, 2007
    TonyC, Oct 14, 2007
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  5. The New Guy
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    Which is easier? To find a new client, or to penetrate an existing client, with different products & services.
     
  6. GreenSky
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    GreenSky Guru

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    I'd love to give you an answer to all your questions but you specifically requested reponses from Veterans. I was never in the service.

    Sorry.

    Rick
     
    GreenSky, Oct 14, 2007
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  7. MIBizInsurance
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    For sure.

    I write biz insurance (Workers comp. Property, umbrella...) so not an expert on home/auto but do have friends on that side of insurance.

    I remember talking about the internet and what it would to the local p&c agent. One agent was scared to death that it would take a considerable amount of biz the other welcomed it with open arms.

    They are both still here and doing well. They did have to make adjustments and as New Guy mentioned learn new tricks so to say.

    As we all know the more products/services a client has with you the less chance they will leave you.
     
  8. TonyC
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    haha....

    hey Rick...its ok. I wasn't in the sevice either.

    Give us your 2 cents anyway......:)

    thanks




     
    Last edited: Oct 15, 2007
    TonyC, Oct 15, 2007
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  9. djs
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    djs Super Moderator Moderator

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    I don't remember the exact statistics, but basically it's simple.

    Write an auto policy, you have a client for 18 months.
    Write a home and auto policy combined, you have a client for 36 months.
    Write home/auto and take care of their money, you have a client for 7 years.

    My client averages are probably off, but the moral to the story is the more involvement you have with a client, the better the client they will be, and the longer you will have them as a client.

    Dan
     
    djs, Oct 15, 2007
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  10. TonyC
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    Is there a personality "skill set" that is best suited for "'one or the other?"'
     
    Last edited: Oct 29, 2007
    TonyC, Oct 29, 2007
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