Working for multiple Agencies

[Uncle John]

Has anyone ever done it? Is there anyway for a company to see your an agent at another company?

 

[rousemark]

Has anyone ever done it? Is there anyway for a company to see your an agent at another company?

Are you talking about agencies of companies. Anybody can pull up your appointments with companies on the insurance departments website. In fact, many captive companies check on a regular basis to make sure the agent is not representing any other companies on the side.

 

[goillini52]

Has anyone ever done it? Is there anyway for a company to see your an agent at another company?

Are you referring to FMO's as Agencies? With FMO's you can contract with as many FMO's as you want if you're an Independent Agent.

If you're talking Captive, then what Rouse said.

 

[Uncle John]

Are you referring to FMO's as Agencies? With FMO's you can contract with as many FMO's as you want if you're an Independent Agent.

If you're talking Captive, then what Rouse said.

Im currently at a top 3 broker selling a different line of insurance and I also work at a life insurance FMO. I guess I’m just wondering how the top 3 broker would ever find out I’m at my FMO as I’ve been here for two months now and everything has been fine.

 

[goillini52]

Im currently at a top 3 broker selling a different line of insurance and I also work at a life insurance FMO. I guess I’m just wondering how the top 3 broker would ever find out I’m at my FMO as I’ve been here for two months now and everything has been fine.

Are you supposed to be captive? So what you're selling at the FMO doesn't compete with what you sell at the broker's?

 

[Uncle John]

I

Are you supposed to be captive? So what you're selling at the FMO doesn't compete with what you sell at the broker's?

Im not sure about your 1st question as the company is a commercial firm (one of the big 3 Marsh, Aon, WTW. In regards to your second question that is correct I’m only selling life/Medicare and health plans at the FMO

 

[goillini52]

I


Im not sure about your 1st question as the company is a commercial firm (one of the big 3 Marsh, Aon, WTW. In regards to your second question that is correct I’m only selling life/Medicare and health plans at the FMO

Captive means your not supposed to sell for anyone else. Usually that's for competing product lines.

 

[Brian_Chapman]

I observed the difference here. Independent insurance agents, unlike captive insurance agents, are not bound to work for a single company and can offer plans from a variety of insurers.

 

[Life Hawk]

I observed the difference here. Independent insurance agents, unlike captive insurance agents, are not bound to work for a single company and can offer plans from a variety of insurers.

Yes and Yes. For career professional agent, I would strongly suggest agents move toward independence in their profession. I've been a company only guy, an FMO captive, and now an loose IMO with independent contracts. Never allow a single rudder to steer your ship it can be a career killer. Had this occur after a FMO took a nose dive.

I'm very cautious now not to hitch my wagon to one star.

There is a process to this, and for a new agent it takes time to navigate these waters. Reach out and ask questions. There are some crusty ole sailors here who can help you navigate these waters.

 

[goillini52]

Yes and Yes. Never allow a single rudder to steer your ship it can be a career killer.

I'm very cautious now not to hitch my wagon to one star.

I agree. Don't put all of your eggs in one basket. Carriers or FMO's.

I was with 2 captive companies for about 20 years, and now I've been an Independent Agent for the same length of time. I got some good training and learned the business, but I wish I would've seen the light much sooner.

Besides having better and more competitively priced products, the commissions are much better, on some products the commission is double or better.

And, Being an Independent Insurance Agent, I can do whatever the f*ck I want.