Getting Started in the Insurance Agency.

[pins]

Hello everyone, I first would like to say that this forum is amazing with all of the collective information shared here and thank you to all who have contributed. I am looking at getting into insurance. I know that there are so my options out there. Life, Health, FE, Supp, and P&C,

Here is my situation; I would greatly appreciate any advice or feedback. I am currently in the Jewelry business (own a showcase in Los Angeles, which I will be closing) and need to "hit the ground running" due to low funds. I can get by with a low income for the first few months, but would like to make at least 50K my first year. I realize this all depends on me, but I'm looking for advice as to what insurance would alot me the highest probability of doing so.

I am asking if you would do it all over again, what would you do today?

1. what type of insurance would you sell?

2. where would you get training?

3. what would you do after training?



Thank you guys for reading my post and any information.

 

[shawnmwalker]

I'll buy some jewelry deeply discounted. Diamonds.


I have always been on the independent side and in personal lines for the most part.

Go indy, I have felt blessed that that was my path from day one.

If I could do something all over again I would have learned Commercial sooner. More entertaining, more to learn, longer learning curve.

One other thing: There is money to be made in insurance at all ends of the spectrum. Everyone thinks their end of the spectrum is best. If you Like Non standard auto and have a plan to get that go get it and don't apologize. If you want to write auto/ home packages all day, cool. Go get that and don't apologize for not knowing how to write a sky scrapper. If you want to insure 7-11's do that. But know that a 7-11 policies have the same written Prem as a packaged house hold.

There are a million segments. Go become an expert in one segment, make a killing and when you meet another Ins guy who says, "Oh you do that crappy segment of the ins industry," don't apologize for your choice.

Having said that always learn new segments. Always learn!

 

[TylerP]

I own an Indy agency (property and casualty) and mainly focus on personal lines. I am starting from scratch and had to go with an alliance to get 5 direct appointments. I will say this, it would be very tough to pull in $50k your first year doing personal lines. Even if you are a true "hustler", you really wont see an AMAZING income until the 2nd renewal of your policies. It's just the way it is in personal lines industry. You must be prepared to live on a cut-down income and you must be prepared to keep grinding and RETAIN your business.

As for the other lines, I've heard life/health is easier to make money due to the upfront commissions being higher but both life/health and Property and Casualty (commercial or personal lines) can be very lucrative.


Good luck on the switch!

 

[DHK]

http://www.insurance-forums.net/for...nsurance/guidance-new-life-agents-t29999.html

In direct answers to your questions:

I am asking if you would do it all over again, what would you do today?

Lots of that is answered in my link above.

1. what type of insurance would you sell?

I prefer the life, annuity, LTC, disability, and critical illness products... and the middle income marketplace to offer those products.

2. where would you get training?

I would be very cautious of any "recruiter" who promises that "we can train you"... without being able to quantify their results in that particular agency.

My favorite places to get training for Life & Annuities... is the Insurance Pro Shop. They have some of the highest quality training available for the life & annuity producer.

3. what would you do after training?

Implement a marketing plan based on MY ideal target market profile.

Two basic markets: those you know, and those you don't know.

Two basic profiles: Residential & Business. Within residential, you generally have families and retirees. Figure out their needs... and find a way to get their attention on a favorable basis to set appointments.

 

[Guest]

I'll buy some jewelry deeply discounted. Diamonds. I have always been on the independent side and in personal lines for the most part. Go indy, I have felt blessed that that was my path from day one. If I could do something all over again I would have learned Commercial sooner. More entertaining, more to learn, longer learning curve. One other thing: There is money to be made in insurance at all ends of the spectrum. Everyone thinks their end of the spectrum is best. If you Like Non standard auto and have a plan to get that go get it and don't apologize. If you want to write auto/ home packages all day, cool. Go get that and don't apologize for not knowing how to write a sky scrapper. If you want to insure 7-11's do that. But know that a 7-11 policies have the same written Prem as a packaged house hold. There are a million segments. Go become an expert in one segment, make a killing and when you meet another Ins guy who says, "Oh you do that crappy segment of the ins industry," don't apologize for your choice. Having said that always learn new segments. Always learn!

That is great advice...

I would add, figure out what you are going focus on and go work for some in that specialty for about 2 years before going out on your own.

 

[axeman462]

Hello everyone, I first would like to say that this forum is amazing with all of the collective information shared here and thank you to all who have contributed. I am looking at getting into insurance. I know that there are so my options out there. Life, Health, FE, Supp, and P&C,

Here is my situation; I would greatly appreciate any advice or feedback. I am currently in the Jewelry business (own a showcase in Los Angeles, which I will be closing) and need to "hit the ground running" due to low funds. I can get by with a low income for the first few months, but would like to make at least 50K my first year. I realize this all depends on me, but I'm looking for advice as to what insurance would alot me the highest probability of doing so.

I am asking if you would do it all over again, what would you do today?

1. what type of insurance would you sell?

2. where would you get training?

3. what would you do after training?



Thank you guys for reading my post and any information.

I'm a little confused by your post. You have been registered as a user of this forum since January 2013, yet you are acting like you want to just get into the insurance business for the first time. Then on top of that, your first post on this forum reads:

"Hello everyone. I am looking to hire a sales manager to help boost sales in my insurance office's and I was wondering what people use these days to recruit(Career builder, Hot Jobs). I am an auto P&C office with 2 locations in California and to be honest sales have never been this low. I want to hire someone that can run a team of agents and start doing commercial, life, and health. Also what would be a fair pay structure for this manager and the new agents I hire. I am new to this so I really need some advice. I want to do some salary but mostly commission. Should I hire a manager with insurance with experience only? Any advice? "

So whats the deal?

 

[bloveds]

I'll buy some jewelry deeply discounted. Diamonds. I have always been on the independent side and in personal lines for the most part. Go indy, I have felt blessed that that was my path from day one. If I could do something all over again I would have learned Commercial sooner. More entertaining, more to learn, longer learning curve. One other thing: There is money to be made in insurance at all ends of the spectrum. Everyone thinks their end of the spectrum is best. If you Like Non standard auto and have a plan to get that go get it and don't apologize. If you want to write auto/ home packages all day, cool. Go get that and don't apologize for not knowing how to write a sky scrapper. If you want to insure 7-11's do that. But know that a 7-11 policies have the same written Prem as a packaged house hold. There are a million segments. Go become an expert in one segment, make a killing and when you meet another Ins guy who says, "Oh you do that crappy segment of the ins industry," don't apologize for your choice. Having said that always learn new segments. Always learn!

I wish I had gone Indy from the beginning. Anybody that has owned and run their own business has the guts to do this. Read all you can on this forum and learn from the pros.