What is the Best Way to Handle?

[Zurito]

Hello all, I'm beginning a career in insurance sales and I have sent feelers out to several agencies. I have the ability to write close to 2 million dollars worth of premiums in the first week that I would start with an agency…. Im aware that there are large commissions involved with these policies and would like to hear how experienced agents would handle this situation? The policies are for medium sized business that I have a long standing connections with.

Thanks…. Z

 

[DHK]

You have business owner clients that are ready to write a couple million dollar premiums... with a new agent???

I think you're over-estimating their trust in you and you're under-estimating the level of knowledge YOU need to do that kind of business.

Just remember: people who have the ability to write those kinds of checks... don't do it because they trust people who are new to their industry.

Also, agency recruiters often hear a lot of promises that never pay out. So if you're using this as a way to try to secure interviews or contracts... they aren't taking you seriously... just as I'm not.

Here's an overview of working with business owners to solve their problems:
https://www.youtube.com/watch?v=0NTw369Eo1A

----------

For training... this is where I'd go:
IARFC

 

[shortondm]

Hello all, I'm beginning a career in insurance sales and I have sent feelers out to several agencies. I have the ability to write close to 2 million dollars worth of premiums in the first week that I would start with an agency…. Im aware that there are large commissions involved with these policies and would like to hear how experienced agents would handle this situation? The policies are for medium sized business that I have a long standing connections with.

Thanks…. Z

Contact AlSol Brokerage at 615-933-3395

 

[goillini52]

You have business owner clients that are ready to write a couple million dollar premiums... with a new agent???

I think you're over-estimating their trust in you and you're under-estimating the level of knowledge YOU need to do that kind of business.

Just remember: people who have the ability to write those kinds of checks... don't do it because they trust people who are new to their industry.

Also, agency recruiters often hear a lot of promises that never pay out. So if you're using this as a way to try to secure interviews or contracts... they aren't taking you seriously... just as I'm not.

Here's an overview of working with business owners to solve their problems:
https://www.youtube.com/watch?v=0NTw369Eo1A

----------

For training... this is where I'd go:
IARFC

------------------------------------


And... it's gone! <<<Funny!

 

[Zurito]

DHK, Sometimes it's not what you know but who. The current amount of the premiums are 389,000 155,000 and 1.5 million per year… They are for transportation and construction companies.

Anyway Im not wasting time Im just trying to figure out the best way to approach this…. Specifically commission structure and any other unknowns that someone who is new to the insurance business wouldn't know to look out for.

shortondm… Can I Call Monday? Which time zone are you in? Thanks.

Thanks to all responses!

 

[DHK]

So... you're just going to replace what they've already got? Ugh.

Why do they want to replace their policies when new ones will be more expensive due to the increased ages?

----------

Its WHAT you know that'll keep you out of trouble and help your clients.

 

[Zurito]

Yes, Thats pretty much it.

Haven't you ever changed insurers based on relationships or previous success in business? They trust me more…. I promise.

 

[DHK]

I think I assumed something that may or may not be true. Are you talking about P&C commercial insurance... or life insurance? Your original post didn't specify.

 

[Zurito]

There are numerous policies with each biz P&C business umbrella, employee health plans etc... There are a bunch of smaller policies as well as the majors... There are over 500 employees in the 3 properties.

 

[DHK]

Ah! Gotcha. That changes everything... and I'm sorry that I ASSumed.

However, you are definitely going to need some help on those P&C policies because you're new. There are plenty of people here... but I'm not one of those who can help you.

What state are you in? Maybe someone can refer you to someone that's experienced that can help you on this - usually for a commission split to be negotiated up front.