Farmers AgencyPoint Vs. Reserve Program? Any Info?

[motosteveo]

I am in Ohio and am seeking employment in the insurance industry. I have contacted my local Farmers recruiter (I have read all of the good and bad, please no negative feedback.) And have discovered that there are a couple of different programs available to get started with Farmers.

The new program is the "AgencyPoint" program and is different than the "Reserve" program. There seems to be good and bad about both.... I don't fully understand the ins and outs of either so I am hoping for some insight!

Both programs have the same end result, to make you a "Career Agent".

Both programs have different quarterly requirements
Both programs offer "substity" though at different times
Both programs will have different DMs (even in same area)

This seems like something new for Farmers. Why?

The AgencyPoint hasn't been around long enough to really see the results... I just don't want to end up being a guinea pig!

 

[jcahall12]

Moto,
I know the process has changed a lot in the agency points since I became an agent over a year ago. I am an agent from the cincinnati agency point. I started over a year ago, and was apart of the reserve program. Now they do have another contract I believe that agents are going through.

I can tell you from personal experience I love the contract that I am on. You will find on this website that many people are against farmers as well as other captive companies, and will say its impossible to put money on the table under these contracts. I don't believe this to be true at all. If you work hard you will be fine. It is all about how many years will you dedicate to build your business.

 

[Norwayguy]

Moto,
I know the process has changed a lot in the agency points since I became an agent over a year ago. I am an agent from the cincinnati agency point. I started over a year ago, and was apart of the reserve program. Now they do have another contract I believe that agents are going through.

I can tell you from personal experience I love the contract that I am on. You will find on this website that many people are against farmers as well as other captive companies, and will say its impossible to put money on the table under these contracts. I don't believe this to be true at all. If you work hard you will be fine. It is all about how many years will you dedicate to build your business.

I've got no skin in the game of Farmers or P&C side of insurance but I don't think people are saying you can not make money as a captive many people do...The issue is as a captive you are at the mercy of the carrier in your area. If they raise their rates pricing themselves out of your market what do you do?

The other issue with captives is we all talk about being business owners but take State Farm for instance you take on all the risk of opening an agency they use your cash to build a book of business that belongs to them you walk out the door and get run over and killed and state farm will move a new agent right into your office and will assume the book..

As I said on the P&C side I'm not in the game captives can serve a really good service because from my understanding unlike the L&H side it is almost impossible for a noob to get appointments with carrier which are the lifeblood of your industry unless they have experience or a BOB or both and obviously a captive experience can help in those areas...I wish you both the best of luck and hope you knock it out of the park. I have no good or bad about Farmers as they are non-existent in my area.

 

[Ron Van D]

I've got no skin in the game of Farmers or P&C side of insurance but I don't think people are saying you can not make money as a captive many people do...The issue is as a captive you are at the mercy of the carrier in your area. If they raise their rates pricing themselves out of your market what do you do?

Lose 25% of your book in one year. Oh, that was just me. It may not happen to you.

 

[txagt39]

If you don't want to hear any negative you need to ask another question. Farmers has no ethics, they don't hire DM's to have ethics and they will lie to your face and stab you in the back. So if you don't want to hear the truth don't ask the question.

 

[Norwayguy]

If you don't want to hear any negative you need to ask another question. Farmers has no ethics, they don't hire DM's to have ethics and they will lie to your face and stab you in the back. So if you don't want to hear the truth don't ask the question.

I don't think the original poster hung around for 3 years awaiting this answer.

 

[txagt39]

The news hasn't changed except maybe it got worse - whether original poster is still around or not.....

 

[biaomaha]

The news hasn't changed except maybe it got worse - whether original poster is still around or not.....

That may even be understated