When You First Started...?

[mmaedelins]

Hey Everyone,
I've only been an insurance agent now for a little over 2 months. I focus mainly on commercial accounts and just officially closed my 5th one today. (yay!) I have about a dozen other quotes out and a list of xdates for 75 other businesses for this year. I know insurance is not a get rich quick kind of business but I'm just wondering if I'm on the right track. When you were 2 months in, how many policies had you written? Am I super far behind or right on track? My boss seems to be impressed but I'm not exactly convinced so I'm just looking for some feedback from the masses.

Thanks in advance!

 

[djs]

You are doing commercial so the number of accounts means less than the GWP (gross written premium).

At 2 months in, you are still learning, especially in the commercial world, so 5 accounts is good, but in all honesty, its hard to tell if you'll succeed or fall flat at only 2 months in. At this point, you really should be more about quotes provided since ultimately it will lead to some business and the commercial sales cycle can be 90+ days.

As a lofty, but achievable goal, I would like to see someone new hit $50,000 in GWP in month 6. You can do that with 1 account or you can do it with 10, doesn't really matter, but it would put you pulling your weight. Again, depending on your market, this could be easy or it could be a challenge.

Dan

 

[OhioIA]

When I train a new producer, I set 3-5k written premium as their first month's goal, 9-13k as their second month's goal, 15-20k as their forth month and 20,000+ every month after.

I have hired 5 producers and 3 have been able to do this. I fired the two that couldn't hit the goals after 3 months.

 

[mmaedelins]

Great feedback! I assume these numbers are for full time agents. Any numbers for part time agents? Did I mention I only work 18 hours a week??

 

[OhioIA]

I don't hane any experience doing it part time. I think it depends on what time of day you are working and whether you are going after personal or commercial.

Good luck. This is a great career and I hope you enjoy it as much as I do.

 

[CaNewAgent]

When I train a new producer, I set 3-5k written premium as their first month's goal, 9-13k as their second month's goal, 15-20k as their forth month and 20,000+ every month after.

I have hired 5 producers and 3 have been able to do this. I fired the two that couldn't hit the goals after 3 months.

Do you provide leads for your new producers or do they have to bring in their own customers?

How much training do you give them, not how to work the applications but how to handle objections and prospect?
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Hey Everyone,
I've only been an insurance agent now for a little over 2 months. I focus mainly on commercial accounts and just officially closed my 5th one today. (yay!) I have about a dozen other quotes out and a list of xdates for 75 other businesses for this year. I know insurance is not a get rich quick kind of business but I'm just wondering if I'm on the right track. When you were 2 months in, how many policies had you written? Am I super far behind or right on track? My boss seems to be impressed but I'm not exactly convinced so I'm just looking for some feedback from the masses.

Thanks in advance!

Congratulations on getting your fifth account. Commercial is different since the subject covers such a broad area. Simple BOP for hairdressers to large office buildings.

It seems to me that you are doing well with 5 closes, 12 possibilities and another 75 who are willing to let you quote the business.

The good part of commercial is it's mostly a dollar and cents decision. Establishing rapport with the business owner is essential but you don't have to play the emotional selling games with them.

 

[mmaedelins]

Thanks CaNewAgent! I appreciate the encouraging words. Oh, and I have 6 clients now.
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I don't hane any experience doing it part time. I think it depends on what time of day you are working and whether you are going after personal or commercial.

I work 9-3pm, 3 days a week (more if I'm able) and I do commercial accounts.

 

[McRamboDotCom]

on those 6 accounts, what was the premium, and were they all cold calls?

 

[mmaedelins]

on those 6 accounts, what was the premium, and were they all cold calls?

The premiums range from $3000 to $12000 and all 6 were cold calls.