Switching Careers: Police Work to Insurance?

[CHUMPS FROM OXFORD]

When I started in this business in 1980, I dove fast and I started slow.
It seems as if the slower I drove, the better business became. I now go 42 in a 35 and about 60 in a 55 and business is good.

I'm not sure if that will help you or not, but I figured since you were a police officer, I would throw it out there.

 

[dennylobach]

Greetings all!

Stumbled across this website looking at information on switching job gears. I have no experience in the insurance industry but it has long intrigued me. A quick rundown on my situation:

Currently 6 years + in law enforcement as a police officer. Specialized in traffic crash investigation, DUI work, etc.

Prior to this was in inside sales for five years. Enjoyed the work and was a consistent top 3 producer (out of about 50 salespersons). always enjoyed the consulting side to my job there.

Left because law enforcement was something I always wanted to do, however after having done if, been through some things, seen a lot of things, and been to a few places with it, the "stability" and safety (also now with family) and getting out of shift work seems to be calling me. Having the luxury of time to look around and seeing the economy slowly stabilizing a bit, I'm contemplating getting into the field.

A few questions for you that can help:

1) Getting into a sales agent job, or do you think my background would be better to start in claims?
2) Is claims/appraising a good stepping stone into an agent?
3) I am also looking at aligning with a brand that will take the time to properly help and train new agents, rather than the see what sticks approach. Opinions welcome.
4) Typically speaking, how long does a newbie take to get to the point where you could start your own office, once you have worked inside an agent's office? (I know its kind of vague)

Thanks to everyone. I look forward to participating here.. site has a TON of good information so far.

First any groupe of like people; police officers, firemen, truck drivers etc. are an affinity groupe.

If you can introduce yourself as part of that affinity group, “Before I tell you how this works, let me tell you why I do this, like you I'm a police officer...etc" you will be far ahead of anyone else approaching the prospect.

In addition because you understand their lifestyle, income etc you are in a much better position to establish report. Of course you need to believe in what you are presenting to them so much that you own it yourself. (If you want to be convincing –you need to be convinced)..so if after reading this you conclude that it might be better if you did this while you were a police office your are correct. That way you still have an income and prospecting is much easier and matter of factly…”Say John, what are you doing about your….” Gee you ought to let me show you what I did…etc”

Keep in mind that the foundation of selling is simple (I didn't say easy) it's showing the right solution to the right prospect at the right time in the right place at the right price. (The order is not that important.)

The second principal is that although you can make a sale even if they don't like you (most cars are bought in spite of the car salesman not because of him[or her]) you need the prospect to KNOW you LIKE you and TRUST you.

We have used this affinity concept successfully for over 23 years except we use it with a different affinity groupe other than police, and I was personally was not part of the affinity group but my wife and sister are and my business partners wife and sister are also, so we always lead off with that fact and gain immediate report. They seus less as an insurance agent but rather the spouse of someone that does the same work as they do....almost like a member of the club.

It is also easier to prospect, (we have done direct mail to the same group for 23 years and also written booklets for them and have web forms etc. to get referals -they all know others the same as them- and if you discover a common - I believe police have the same problems and needs as our affinity group does - you can make basically the same presentation to everyone...that makes it much easier. You don’t have to learn everything just one thing very well. Much simpler. Closing the sale become a no issue, done right you don’t have to sell them, they buy. In fact for us using this system the only agents we have had any success with are spouses or members of our affinity group. Ther rest of the agents don’t get it and try to sell the prospect like the do everything else they sell.

So now you have a built in lead supply, and you can work from home so you don’t need an office, you don’t need any support staff and you don’t have to give up your current income, (That’s exactly how I started) basically all you need is acomputer and a printer. Oh I almost for got the best part…because they all have days off in the middle of the week I do daytime appointmenst at their homes. No nights or weekends. You could do the same with police!

Tom Hopkins says that the bigger the deal the longer it takes to close. Don’t go for the low hanging fruit. Everyone else is trying to get the easy ones and you have too much competition. Solve bigger problems such as college savings and retirement planning, the need is a bigger problem and the sales are bigger and there is much less if any competition. The learning curve is much shorter also.

Although I operate the agency and have moved on to larger problems to solve that pay much larger commissions... even starting out our agents or anyone for that matter who is part of and working an affinity group should be earning $1000 to $3000 per client and at that rate it doesn’t take long to get to six figures. (If you can’t make six figures in this business and I actually tell agents $250M a year you are going to be better off with a JOB with benefits)

Also these are solution sales (which are life sales) not price driven sales (God bless all the P&C guys who have to quote prices, my heart goes out to you and I couldn’t do what you do – besides I HATE paperwork and if my P&C guy is any indication the way you spell Property and Casualty is P-A-P-E-R-W-O-R-K).

There is much more to this but that should give you something to think about.

Den Lobach
AgentSuccess.biz

 

[BNTRS]

1. Claims has nothing to do with being an agent. That'll never prepare you.

2. No

3. There is no one company that does this. It's up to the people that work at those companies. You're looking for something that is rather difficult to find though.

4. Who knows? Some are ready from day one, some never will be.

My thoughts, this will be a tough transition. Inside sales means a lot of different things to a lot of different people so I have no idea what that refers to, but I'm guessing it's something completely different from what you'll do in insurance.

Here's what you are up against. Fighting hard to get in the door with a product very few people understand and frequently have a resistance to for many reasons. Then after spending a lot of energy getting someone to say yes, you have to go through the sales process.

But wait, we're not done yet. Even after someone has agreed, signed a contract, and even handed you a check you don't get paid. No, no, this case will have to survive the underwriting process in order for that to happen. A positive underwriting decision, and a client who is still interested after waiting a few weeks to a month or more and finally you get a paycheck.

That's what you're up against. Chasing down perps and having your life threatened (actually that happens to agents from time to time too) will at least come with a paycheck at the end of the day, insurance has no such feature. After 40 hours, you get a lot more money, in insurance you'll probably be working overtime hours for half of your base officer pay in the beginning.

 

[livestronger]

Home office training helps you understand the business in ways most agents never will, but it won't prepare you for a sales career.

The ability to sell is either something you have or something you don't. While skills can be honed, not everyone has the personality for sale.

If you are uncomfortable around people you won't like sales.

Obviously you currently have a job that requires a lot of people skills, but those skills change dramatically once you take off the uniform and gun belt.

People who may respond to your suggestions while in uniform may not respond the same way in street clothes. Your training teaches you to size up the situation and take control which can be one aspect of sales but with one big difference.

A sales person is not perceived as an authority figure.

Insurance sales may or may not be for you, but there is a lot more to it than it may appear.

Thanks somarco. I have a background with about 10 years in sales prior to the LEO career, so its not a total blind jump in, at least as far as the sales aspect, but obviously the product would be new to me.

I find (and maybe I'm in the minority of my peers) that the "authority figure" does not play into what I would be trying to do in a career outside of the uniform. I'm comfortable with leaving the idea of my badge doing the 'talking'. I could probably succeed in dealing and persuading without it.

Thanks for the thoughts!
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I'm a retired firefighter and I will tell you that this business is much harder than I ever dreamed. I started out with health sales. Still do a few, but recently transistioned to P&C which is going better.

If it were me, I would think long and hard about leaving what you have now, and even harder about a commission job.

Labman, thanks! Did you retire then go into it? I am trying to do my due diligence on such a move, and if I were to do a state 20-and-out, that still puts me with my state (IN)'s pension in a position where some sort of work will likely be required to make it, unless some savvy investing on my part takes place as well.

I've worked a commission sales job prior to my LEO work, and was quite adept and successful at it. Hence I think about what product would I like to sell. So here I am. Appreciate the feedback!

What did you find hardest about starting up?

 

[Newby]

The truth is that no one could really tell you. I jumped from a VERY cushy job managing a motorcycle dealership. Had a nice income plus benefits and company car and even free gas. But after 20 years of anything you just would like to do something different.
I must have been out of my mind when I quit that and jumped with both feet into straight commission life insurance sales.
Luckily it's been great because I love it and if you love what you do you will be good at it.

 

[medx]

I'm a retired firefighter and I will tell you that this business is much harder than I ever dreamed. I started out with health sales. Still do a few, but recently transistioned to P&C which is going better.

If it were me, I would think long and hard about leaving what you have now, and even harder about a commission job.

Good advice.

 

[Norwayguy]

Thanks somarco. I have a background with about 10 years in sales prior to the LEO career, so its not a total blind jump in, at least as far as the sales aspect, but obviously the product would be new to me.

I find (and maybe I'm in the minority of my peers) that the "authority figure" does not play into what I would be trying to do in a career outside of the uniform. I'm comfortable with leaving the idea of my badge doing the 'talking'. I could probably succeed in dealing and persuading without it.

Thanks for the thoughts!
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Labman, thanks! Did you retire then go into it? I am trying to do my due diligence on such a move, and if I were to do a state 20-and-out, that still puts me with my state (IN)'s pension in a position where some sort of work will likely be required to make it, unless some savvy investing on my part takes place as well.

I've worked a commission sales job prior to my LEO work, and was quite adept and successful at it. Hence I think about what product would I like to sell. So here I am. Appreciate the feedback!

What did you find hardest about starting up?

I'm not sure what you sold prevously but you should realize that this is probably very different..This is selling Intangibles they can't touch it or look at it and frequently they don't wake up and say I want to buy a new life policy, though people frequently do that for other things like cars, stereos etc...If you decide to do this I wish you all the luck in the world. Work on getting your license first maybe that alone will bore you to death...I don't know what type of schedule you work, I've seen Firefighters and Paramedics successfully ease into other buinesses because they worked 24 hours on or more and had a set amount of days off.