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re: Selling insurance. Life/health/dental etc.

Posted on 3/26/16 at 9:35 pm to
Posted by The Torch
DFW The Dub
Member since Aug 2014
19523 posts
Posted on 3/26/16 at 9:35 pm to
DC - 100% of companies are all commission after you obtain your license.

Do as you will my man.
Posted by DCtiger1
Panama City Beach
Member since Jul 2009
8856 posts
Posted on 3/26/16 at 9:44 pm to
Yes, that's true to an extent. But comparing being a producer for Aflac to being an agent for SF or Allstate is foolish. Are you an underwriter? A service assistant? I mean you do realize where the applications your processing are coming from right? No one ever said it isn't a risk. It's tough, long hours and you are starting your business. But risk is worth the reward and the sky is the limit as far as earning potential. Why are you in the insurance business if you're so damn negative about it?
This post was edited on 3/26/16 at 9:46 pm
Posted by The Torch
DFW The Dub
Member since Aug 2014
19523 posts
Posted on 3/26/16 at 9:52 pm to
I'm not against Insurance, my pay check comes from a company which depends on it. I do not like the agent recruiting process where they promise any guy off the street that they will be making $100K a yr within three yrs. Highly unlikely

It's a dirty business, you asked for opinions and I gave you mine.
Posted by La Place Mike
West Florida Republic
Member since Jan 2004
28896 posts
Posted on 3/26/16 at 9:53 pm to
quote:

Then you have to explain it.



I smell a HIPAA violation.
Posted by DCtiger1
Panama City Beach
Member since Jul 2009
8856 posts
Posted on 3/26/16 at 9:54 pm to
Who is they?
This post was edited on 3/26/16 at 9:56 pm
Posted by CMBears1259
Baton Rouge
Member since Sep 2005
4054 posts
Posted on 3/26/16 at 11:23 pm to
I just accepted a job as a commercial property and casualty producer. Just started at the agency on Wednesday and will only be focused on studying for the licensing exam.

Anyone have any feedback on being a commercial P&C producer versus personal insurance?
Posted by beebefootballfan
Member since Mar 2011
19087 posts
Posted on 3/26/16 at 11:27 pm to
Here is a small tip. Don't gamble with your customers premium payments hoping to make the money back and a little extra to pay off old gambling debts. It sort of frowned upon when you lose that payment month after month and folks are riding around on high risk plans not knowing their insurance has been cancelled.

Posted by CMBears1259
Baton Rouge
Member since Sep 2005
4054 posts
Posted on 3/26/16 at 11:47 pm to
thanks for that "tip"!
Posted by eScott
Member since Oct 2008
11376 posts
Posted on 3/27/16 at 6:45 am to
Fail at life, become insurance salesman.
Posted by Birdie225
Bottom of the map
Member since Mar 2007
2078 posts
Posted on 3/27/16 at 7:26 am to
quote:

Anyone have any feedback on being a commercial P&C producer versus personal insurance?


CM, learn your coverage forms, first and foremost. Second, get in good with your underwriters, but more importantly find a select few that are your go to's. Underwriters can be an asset to you. While some are the "no" type, there are some out there that want to grow with you and make money for the both of you. There is black box underwriting and then there are those that actually underwrite. Find the good ones.

Learn, learn, and learn more. The more familiar you are with the coverages, the better equipped you are to protect your insured. Referrals will come.

Insurance is what you make of it. Its can be brutal and boring or it can be a profitable career with some fun perks as well.

Good luck!
This post was edited on 3/27/16 at 7:33 am
Posted by dwr353
Member since Oct 2007
2130 posts
Posted on 3/27/16 at 8:51 am to
Do not confuse insurance salesman with insurance agent. Salesmen come and go. Agents usually retire wealthy or very comfortably.
Posted by LeonPhelps
Member since May 2008
8185 posts
Posted on 3/27/16 at 8:55 am to
Google just shut down their service that was supposed to replace insurance agents because it cannot replace the value of agents and the comfort of speaking to someone who knows their stuff and has relationships. This is coming from someone who has personally never used an agent but invests a lot in the insurance industry.

Also, someone mentioned travel agents as a thing of the past, but those actually still exist and can do quite well. They basically use their scale to get discounts and give you a bulk package, taking a piece off the top. It costs essentially the same to you and you don't have to do the hassle of trying to figure everything out.

Computers aren't the solution to everything.
Posted by LeonPhelps
Member since May 2008
8185 posts
Posted on 3/27/16 at 8:57 am to
quote:

This job is the equivalent of being a travel agent. Not a good long term career move if you are young.


You have no idea what you are talking about.
Posted by CherryGarciaMan
Sugar Magnolia
Member since Aug 2012
2497 posts
Posted on 3/27/16 at 8:58 am to
CM,
I would begin with personal, then work your way up to commercial. Commercial is much more complicated.
And, if you're with a "captive" agency (State Farm, farmers, all state, etc), you won't have a competitive advantage, as that is not their preferred market.
Posted by dwr353
Member since Oct 2007
2130 posts
Posted on 3/27/16 at 9:01 am to
I have friends on the commercial side and they like the market. You will have less day to day contact with clients and less of them. You will make a larger commissions because of the larger premium payments. On the personal side you will have more clients so the increased volume offsets the lower per policy payments. The claim process is different dealing with commercial insurers. I did some commercial for select clients, but usually referred commercial business to producers I trusted to take care of them. They wrote the commercial and did not mess with my p&c business.
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