What Makes a Successful P&C Agent

[Colby Gardner]

Nice. If you don't mind me asking. What are some tools, and tactics you guys use to get more referral business? At the life insurance company I worked for they have free stuff to give away so it was easier to get referrals now I don't have that so I'm finding a little more difficult. But Iv also only been doing this for 1-1/2 months so I'm not expecting all that but it would be nice to start my snowball now. Any help?

 

[plewi003]

Definitely, good idea to learn the ropes before you take the plunge. Indy vs. Captive always has it's pros, and cons. It really comes down to paying attention to the market. I'm a Nationwide Agent, however I can broker for price if needed. I have purchased some indys and their model is more of a numbers game vs building relationships. Your basically teaching clients to be price shoppers instead of valuing the product or the company. The best thing to do right now is learn, build relationships, and work on your prospecting, presentation, and close. Also read books as much as you can! Always be learning about business in general, and keep honing your craft. I started when I was 18, and the possibilities are endless. Just be smart about your decisions, and always outwork the competition.

 

[insurance1822]

Can u explain the process that a nationwide agent can broker? What carriers do you guys have access to?

 

[indienoise]

I'm nationwide also. Crazy that my market is more nonstandard, but my brokerage options are travelers, hartford, encompass, and progressive lol. Im looking into dairyland and possibly foremost for auto (already using foremost for property), i need to get on that. Network, as it's called, is a program you have to qualify for as it's not surplus lines (which we also have), it's direct auto and property competitors. The idea is to present the nationwide proposal first, then offer to broker if they decline. You can usually tell the customers who are shopping only price vs looking for more though. Half the time I still close with a nationwide company even if it's not the lowest price.
My situation is kind of unique as im not the agency owner but more or less in an agreement with principal agent that im running a titan storefront pretty well on my own, so i cant really give you full details. If there's a captive to work for, I'd say Nationwide is the one. Cant speak for other states but in South Carolina it's very competitive and I have a good close rate. I dont need to broker as often as I'm allowed, thankfully.

 

[plewi003]

If you are growing or large enough you can gain access to multiple non-standard carriers, and one to two preferred. I currently have Hartford as my preferred option. Commercial I have access to Travelers and Hartford. Nationwide is seeing the light; give me the opportunity to bring them in then eventually move them to Nationwide.

 

[indienoise]

If you are growing or large enough you can gain access to multiple non-standard carriers, and one to two preferred. I currently have Hartford as my preferred option. Commercial I have access to Travelers and Hartford. Nationwide is seeing the light; give me the opportunity to bring them in then eventually move them to Nationwide.

They're limiting your network carriers? That's not something I'm seeing. To me it looks like either you qualify for as many as you want, or none. Only limitation being meeting minimum bind requirements.

 

[insurance1822]

What does your compensation look like on those brokered policies? and since when is Hartford good at anything?

Stop pretending like your INDY'S...you're not. Nationwide turds

 

[plewi003]

You can call me a turd all you want. Why you troll these rooms I am buying agencies like you every year. The only turd in this room is you. Maybe I will have the benefit of calling you a polished turd. I comment on these threads to be helpful, not an ass like yourself. I will sit back and let you talk out your ass while I make 600k a year....

 

[indienoise]

and since when is Hartford good at anything?

When i worked for a personal injury law firm, they were my favorite carrier to deal with.

When i was involved in a wreck with one of their insureds, they continued to impress me.

They are consistently competitive in their target market.

You may have more years experience than i do in selling insurance, but your ignorance shows in this statement.

If all youve got to hold over my head is a slight percentage higher on your commission from binding with hartford than i do, then whatever helps you sleep at night. I wish you the best.

Just an addition, for what it's worth, I never have or will pretend to be independent. My location is Titan branded, so most folks who come in don't realize it's a Nationwide Agency to begin with. If someone asks what companies I sell, I tell them I'm a Nationwide brokerage. I represent Nationwide, but understand it isn't always the best fit for everyone. If it isn't, I've got SOMETHING for them that is more for them. It's a win for everyone. If you don't sell them your primary company, then WHY NOT keep them on the books with another carrier? You've got the chance to re-quote them every 6 months. Everyone's best interest is served in the meantime.

 

[plewi003]

Not trying to put anyone down or say who's way is better. Just giving and seeking respect. Telling someone they are a turd is a no class move. That's all.