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Anyone here work in the E&S/Wholsale/MGA insurance industry?
Posted on 7/13/12 at 11:20 am
Posted on 7/13/12 at 11:20 am
Looking for some advice.
3
Posted on 7/15/12 at 4:22 pm to mule74
I do. 20+years. What do you need?
Posted on 7/15/12 at 11:12 pm to mule74
Mga? U mean managing general agency?
Posted on 7/16/12 at 9:08 am to Weaver
I am a partner/owner in an MGU that operates on a nationwide basis. Leave your email and I can contact you if you want.
Posted on 7/16/12 at 10:05 am to mule74
i currently work on the agency side, however i started with a broker for a couple years out of college.
the broker side could be a fun job depending on where you go and what type of position you hold. my experience was rather boring. i was sitting in a cube all day practically doing data entry. there was no teaching, no learning, and no relevance to insurance in any way. simply data entry.
"Endorsement #4 adding 2003 toyota tacoma for liablity, UM, Med Payments, $1,000 Comprehensive and Collision Deductible, Stated Value $15,000" blah blah blah. all day, it was not very fun nor stimulating.
i believe being an underwriter could be fun, entertaining, and stimulating. you have goals, get to discuss accounts with agents, have an assistant or a team to work for you, and actually get to underwrite.
It might get a little stale if you aren't allowed to actually "UNDERWRITE" an account.
also if you have interest in being an agent, you should definitely give the company side a try first. it's my theory that any person wanting to be an agent should start in the company side. it gives you appreciation and insight as to why or what an underwriter does. you understand the rhyme to their reason.
Keep in mind that insurance can seem dull or boring to some. However insurance is one of the few industries that allows you flexibility in "making it your own". You have the ability to work on a class of business that your interested in. There are a ton of broker's in Louisiana, some with distinct specialties. Keep that in mind while searching.
Good Luck
eta: feel free to email with any questions you might have. you will come to find that most people within the insurance industry are pretty helpful to one another. donimal05@gmail.com
the broker side could be a fun job depending on where you go and what type of position you hold. my experience was rather boring. i was sitting in a cube all day practically doing data entry. there was no teaching, no learning, and no relevance to insurance in any way. simply data entry.
"Endorsement #4 adding 2003 toyota tacoma for liablity, UM, Med Payments, $1,000 Comprehensive and Collision Deductible, Stated Value $15,000" blah blah blah. all day, it was not very fun nor stimulating.
i believe being an underwriter could be fun, entertaining, and stimulating. you have goals, get to discuss accounts with agents, have an assistant or a team to work for you, and actually get to underwrite.
It might get a little stale if you aren't allowed to actually "UNDERWRITE" an account.
also if you have interest in being an agent, you should definitely give the company side a try first. it's my theory that any person wanting to be an agent should start in the company side. it gives you appreciation and insight as to why or what an underwriter does. you understand the rhyme to their reason.
Keep in mind that insurance can seem dull or boring to some. However insurance is one of the few industries that allows you flexibility in "making it your own". You have the ability to work on a class of business that your interested in. There are a ton of broker's in Louisiana, some with distinct specialties. Keep that in mind while searching.
Good Luck
eta: feel free to email with any questions you might have. you will come to find that most people within the insurance industry are pretty helpful to one another. donimal05@gmail.com
This post was edited on 7/16/12 at 10:09 am
Posted on 7/16/12 at 10:42 am to donRANDOMnumbers
I work for a national wholesale/MGA operation. I started in the NOLA office but moved to North Carolina. It's a super soft market here and our office primarily writes the smaller contract risks $500-$3000. It's way different than what I experienced in New Orleans.
I've been pretty successful. I started from scratch in March of 2011 and didn't inherit anything and I'll probably have around a $2m book by the end of the year.
I have recently been offered a job at a much smaller shop with 50 employees and a total volume of $70m. It's more focused on the CAT exposure large property stuff and actually provides better market access than my current company. I will also still have the pen to write small contract stuff. I also could market to some of my contacts back in LA. But it is smaller and I wonder about the stability.
I guess my question is, if you were looking for new position within the industry, what would make a new place most appealing? What kind of comp, bonus structure, etc.? My current employer has a rep for being pretty stingy and that's kind of why I'm looking to move.
My other question is, as someone who is 28, where will this part of the industry be in 20 years? Will brokers still be relevent?
ETA:
I would quit the business before I worked E&S auto.
I've been pretty successful. I started from scratch in March of 2011 and didn't inherit anything and I'll probably have around a $2m book by the end of the year.
I have recently been offered a job at a much smaller shop with 50 employees and a total volume of $70m. It's more focused on the CAT exposure large property stuff and actually provides better market access than my current company. I will also still have the pen to write small contract stuff. I also could market to some of my contacts back in LA. But it is smaller and I wonder about the stability.
I guess my question is, if you were looking for new position within the industry, what would make a new place most appealing? What kind of comp, bonus structure, etc.? My current employer has a rep for being pretty stingy and that's kind of why I'm looking to move.
My other question is, as someone who is 28, where will this part of the industry be in 20 years? Will brokers still be relevent?
ETA:
quote:
"Endorsement #4 adding 2003 toyota tacoma for liablity, UM, Med Payments, $1,000 Comprehensive and Collision Deductible, Stated Value $15,000" blah blah blah. all day
I would quit the business before I worked E&S auto.
This post was edited on 7/16/12 at 1:56 pm
Posted on 7/17/12 at 10:11 am to mule74
bump for any advice
Would be appreciated.
Would be appreciated.
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