Just got laid off and thining of striking out on my own. I have looked at Farmers hoping to get access to Zurich's small biz products but does not look like they have th0se yet. I have spent the last 8 years woring for a mjor carrier as a WC adjuster and a supervisor of a group of UW assistants so I do have some industry knowledge. Also spent a few years with a personal lines (auto) carrier as a CSR. Prior to this I did the life and health gig but went corporate as my kids were always hungry. Now kids are grown and I have a little severance to assist.
I am considering going with SIAA as there is a local master agency which provides support in exchnage for a commission split. My concentration would be commercial. I would also link up with a senior market life and health company to provide quick hit income as well as building a book. I would not ignore persoanl lines and would write as I encounter. As a CPCU I have book knowledge and have a capable mentor. I know the owrk will be hard and I would have to see as many people as I can and network like crazy. I am licensed
I have also talked to a couple of brokers who would start me with a base + split commisions for the first year with expectations of approx $80k in agency commissons.
I also have opportunities to go back to the corporate environment.
Anyone care to comment? My mentor is waiting for me to decide what I want too be when I grow up
Also, any reccomendations on a "not too expensive" agency management software? I would prefer to go paperless.
Thanks
Another Start-up
Moderators: Josh, independent guy
-
- Insurance Journal Addict
- Posts: 309
- Joined: Thu Sep 22, 2005 6:35 pm
- Location: Mississippi
- Contact:
Re: Another Start-up
"My mentor is waiting for me to decide what I want too be when I grow up."
Suggestion #1, get a new mentor.
#2, Get spell check
#3, Your past does not indicate experience or aptitude for sales and marketing. Selling insurance looks easy to underwriters and adjusters. The real world is different. This does not mean you can not sell. It means you don't seem to have done it.
The book knowledge of insurance is rather straightforward. Your mindset needs to be that you are in the marketing business and that takes a very different skill set than you have mentioned.
Suggestion #1, get a new mentor.
#2, Get spell check
#3, Your past does not indicate experience or aptitude for sales and marketing. Selling insurance looks easy to underwriters and adjusters. The real world is different. This does not mean you can not sell. It means you don't seem to have done it.
The book knowledge of insurance is rather straightforward. Your mindset needs to be that you are in the marketing business and that takes a very different skill set than you have mentioned.
Scott Simmonds, CPCU, ARM
Insurance Consultant
Insurance Consultant
Re: Another Start-up
Scott has some valid points.
One he missed on was that you did not do your home work. If you want the Zurich Contract, you need to go to Foremost for their Independant Contract. Farmers and Zurich do not play well togeather. Just talk to a Farmers agent and he should tell you.
One he missed on was that you did not do your home work. If you want the Zurich Contract, you need to go to Foremost for their Independant Contract. Farmers and Zurich do not play well togeather. Just talk to a Farmers agent and he should tell you.
Re: Another Start-up
Thanks -I know my most recent experience does not show any marketing background; however, I do possess a sales background and am well aware that my success will be dependent more on how many people I talk to than how much I know. I just seems that many of the captives recruit so many from outside the industry and have such a high failure rate.
Whichever direction I take to enter the market I will have to hit it with all I got. I just want to make sure I start by going through the best door.
Whichever direction I take to enter the market I will have to hit it with all I got. I just want to make sure I start by going through the best door.
Re: Another Start-up
In Illinois, the Captives are hurting. Look at the agencies up for sale, most are captive. Same holds true for WI & Indiana.
I have had my eye open for an Independant for over 6 months and have not found one in either of the three states.
I have had my eye open for an Independant for over 6 months and have not found one in either of the three states.
Re: Another Start-up
Hello, I am with QQ Solutions. If you are looking for a cost effective agency management system which is rich with features an agency needs, please visit our web site at www.QQSolutions.com. Here you can view the features and pricing for the different packages available for our management system QQ Evolution. With our guaranteed online Data Hosting Services, comprehensive commissions, scanning, marketing and reporting functions, you can focus more effectively on growing your book-‐of-‐business and leave the organizing to us.
Re: Another Start-up
If you looking for an Insurance company software this can be an option to consider. They specialize on insurance and I have heard their systems are very reliable.
Last edited by Josh on Fri Jul 23, 2010 4:05 pm, edited 1 time in total.
Reason: unrelated link removed
Reason: unrelated link removed
-
- Insurance Journal Fan
- Posts: 1
- Joined: Fri Jul 23, 2010 2:03 pm
Re: Another Start-up
No, we ain't looking. Trying to sell is ok when there is some connection to the question asked. Otherwise it's spam.lucia wrote:If you looking for an Insurance company software this can be an option to consider. They specialize on insurance and I have heard their systems are very reliable.
-
- Insurance Journal Addict
- Posts: 64
- Joined: Wed May 26, 2010 3:01 pm
- Location: Portland Oregon
- Contact:
Re: Another Start-up
Since your post was from January - curious, now that it's nearly August, what you did!
Tell us how you are doing!
Tell us how you are doing!
David E. Estrada
Founder & Managing Director
Rainmaker Advisory LLC
Portland, Oregon
www.rainmakeradvisory.com
Founder & Managing Director
Rainmaker Advisory LLC
Portland, Oregon
www.rainmakeradvisory.com
-
- Insurance Journal Addict
- Posts: 160
- Joined: Fri Jun 24, 2005 3:29 pm
- Location: Newport Oregon
Re: Another Start-up
I really don't know how I missed this one when it started... Being an ex-FIG agent I (or my Radar) usually see them and at least read them. I started out life with FIG in '82 - left them in '89 and now I'm working on all three sides of them (Zurich, Foremost & Bristol West). From what I've observed, they are still not a company I'd want to be appointed with. I had Zurich before they bought FIG and Foremost before FIG bought them and got Bristol West when AIG went in the tank and 21s Century, The FIG/Zurich Direct Writer, acquired them serviced them until they decided what to do with the AIG I/A block.jeffmb wrote:Just got laid off and thining of striking out on my own. I have looked at Farmers hoping to get access to Zurich's small biz products but does not look like they have th0se yet. I have spent the last 8 years woring for a mjor carrier as a WC adjuster and a supervisor of a group of UW assistants so I do have some industry knowledge. Also spent a few years with a personal lines (auto) carrier as a CSR. Prior to this I did the life and health gig but went corporate as my kids were always hungry. Now kids are grown and I have a little severance to assist...........
I have also talked to a couple of brokers who would start me with a base + split commisions for the first year with expectations of approx $80k in agency commissons.
I also have opportunities to go back to the corporate environment.
Anyone care to comment? My mentor is waiting for me to decide what I want too be when I grow up
Also, any reccomendations on a "not too expensive" agency management software? I would prefer to go paperless.
Thanks
Your options of working as a producer with the education you've outlined looks good. I would suggest getting involved in the CIC program. I've never been involved in CPCU but I understand that CIC has more practical aspects and by getting and keeping current with the CIC Designation and updates, you end up keeping more current than just having the CPCU designation.
Gregcw
-
- Insurance Journal Fan
- Posts: 4
- Joined: Fri Jul 30, 2010 1:17 am
Re: Another Start-up
I would say focus on both, how many people you talk to in the short run and how many (quality) people you know in the long run.jeffmb wrote:Thanks -I know my most recent experience does not show any marketing background; however, I do possess a sales background and am well aware that my success will be dependent more on how many people I talk to than how much I know. I just seems that many of the captives recruit so many from outside the industry and have such a high failure rate.
Whichever direction I take to enter the market I will have to hit it with all I got. I just want to make sure I start by going through the best door.
Latest people search engines list
-
- Insurance Journal Addict
- Posts: 160
- Joined: Fri Jun 24, 2005 3:29 pm
- Location: Newport Oregon
Re: Another Start-up
I have to disagree with you on success will be dependent more on how many people I talk to than how much I know. That may be true, to an extent in the short-run, when you are getting started. However, in this insdustry your long term success will depend on what you know because that affects how well you do your job and meet your clients needs.jeffmb wrote:Thanks -I know .......; however, I do possess a sales background and am well aware that my success will be dependent more on how many people I talk to than how much I know. I just seems.....
....door.
The reason I suggested the Academy of Producer Studies and the CIC program is because that education helps you meet your customers needs and explain to them why they need certain coverages and endorsements.
Gregcw