Insurance Conventions

Carlos · Post by **Carlos** » Thu Apr 27, 2006 6:09 pm

I plan on attending an insurance convention in June what sould i focus in acheiving while attending.

bindscott · Post by **bindscott** » Fri Apr 28, 2006 9:19 am

Now now Porter, be nice.

Carlos, it all depends on what your looking to achieve. Are you attending to seek markets? Knowledge?

Once you're there, try to talk to as many markets as you can. It really doesn't matter who (Carriers, Finance Companies, MGA's and other retailers) but exchange business cards because you will need them sooner or later. Insurance is strange in a sense that once you meet someone, you will run into them again during your insurance career.

Don't expect to receive immediate benefits from attending and like Porter said enjoy while you're there.

Good luck to you my friend.

CATHIEA · Post by **CATHIEA** » Fri Apr 28, 2006 12:17 pm

Get all the hand out info the companies have to offer - even if you don't think you'll ever need it. I keep a seperate file cabinet where I file this info by line of business. We never have a shortage of markets and can write any risk (no matter how off the wall).

sanddog1 · Post by **sanddog1** » Sat Apr 29, 2006 9:26 pm

don't waste your time. If I remember correctly, you said that your new to our business. Try and get as many carrier appointments as possible. And get out there and sell. No one wants to talk, until you have and establish book of business.

sanddog1 · Post by **sanddog1** » Sat Apr 29, 2006 9:30 pm

Carlos, I more thing stay away MGA's until you learn the policy forms and understand the billing. The E & O exposure is and can be horrible with sub standard markets

scott · Post by **scott** » Tue May 02, 2006 1:37 pm

What are your business objectives? What will move your business towards those objectives?

Who will attend the conventions? Who will exhibit at the conventions? Can the attendees or the exhibitors help you move to your objectives?

I don't attend insurance conventions. I do attend trade shows and conventions my clients attend - bankers, auto dealers, municipalities, health care associations... I'm almost always the only insurance guy in the room.

Carlos · Post by **Carlos** » Tue May 02, 2006 4:53 pm

I am definitely looking for better markets and to look into offering new products to my clients.

There is a large number or companies at the trade show, should i be prepared with more than just business cards.

One more question, are the decision maker usually at trade shows or only marketing personnel.

Thank you for all your answers.

bindscott · Post by **bindscott** » Thu May 04, 2006 11:25 pm

sanddog1 I'm sorry that your experiences with substandard market's been horrible. Hope you've learned all the policy forms and billing while keeping your E & O carrier happy. Keep in mind, getting an appointment with a standard market is one thing and maintaining the appointment while sustaining the volume commitment is another. Some new agencies have very slim chance of getting direct appojntments with standard carriers.

Carlos, yes, their will be some decision makers. Unfortunately many of them don't make immediate decisions (I'm assuming company appointments). Like I said earlier, try to talk to as many markets and even other retail agency owners. Some agencies can be very helpful when finding certain markets for a specific risk.

Have fun and good luck.

sanddog1 · Post by **sanddog1** » Fri May 05, 2006 11:32 am

bindscott, yes i agree your correct. I use sub markets. I just don't believe Carlos is ready and if his E & O carriers get wind, that his placements are mostly sub standard, then he's gone on renewal. He should go work for a broker and develop his book and mind, then look for appointments. Who in CA will ever appoint a newbie to and admitted carrier beside a loose company like farmers

Carlos · Post by **Carlos** » Mon May 08, 2006 6:22 pm

Thank you all for your comments.

State Farm is one of the exhibitors at this convention, what are your feeling towards this company.

Here is a link to the convention website,
http://www.latinagents.com/convention/convention.htm

sanddog1 · Post by **sanddog1** » Mon May 08, 2006 9:50 pm

Carlos, if Statefarm will appoint you that's good, their a good retailer not great but good and have a better reputation then farmers or allstate. Reminber their very captured ( you must place all business with them) And they have a very limited appetite. Some of the company restraint are: you will not own the book of business you developed. You are and employee
( so look at AAA Ins as well for and employer) You will be required to work under and agent for several years, when and agency comes available be prepared to move, in most cases. (Depends where you live, if you live in and under served area by Statefarm then you have a better chance at full appointment. They are big into persoanal lines and Banking, not commercial. You will be come bord with selling home & Auto for the next 20 years. I have friend who's and agent, there is more...See state farms your in good hands, No wait thats allstate. They put you back where you belong, No that's farmers,

god I give up.

Porter · Post by **Porter** » Tue May 09, 2006 9:38 am

Carlos,

They deleted my first post so I will try and keep this one clean. State Farm blows. Getting into the insurance business is tuff enough. You will need every BS line in the book to sell for a captive like State Farm, Farmers, etc. One thing to consider, if you are successful selling one of these companies they can raise rates, place moratoriums, and/or stop writing a line of business (usually the one you write a lot of) and since you are captive you can not place business anywhere else. If you were independent you just transfer to another company that you offer. Happens all the time.

Go independent! Start as a produce for a good independent agency, get experience, and maybe start your own agency.

Brandy · Post by **Brandy** » Tue May 09, 2006 10:56 am

Carlos, be careful "who" you go to work for. I read the other posts to this and have to agree, going captive will make it hard to place some business but if you haven't worked in this business before it's probably your better choice. Best bet, find an agency that writes (multiple) different types of lines of business so you get a well rounded exposer to what's actually out there. Find someone who wants to train a rookie and make himself look good.

Someone said they had a file and could write any line of business. Could you write alligators and crocs in the back yard? Who would you put this with?

CATHIEA · Post by **CATHIEA** » Tue May 09, 2006 3:40 pm

Brandy,
There are few accounts I haven't been able to place - the liability for 2 full grown lions which had already eaten the neighbors dog, the two mastifs that attacked a woman who wandered into their LOCKED backyard and a harley davidson hearse. The first two I chose to not get involved with for obvious reasons. The third unfortunately there is no market that will entertain a motorcycle used for commercial purposes. I would place your aligators in the obvious reason arena. However, I have written GL for a trained buffalo who appears at various sporting & business events, rodeo bulls, etc. Most of my accounts are a bit unusual (product liability for a snore formula or $10 mil products for sales of jet engine parts). I find these type of accounts challenging and rewarding. It does take tenacity and perserverance to find the markets that will write these type of accounts and you have to do a lot of upfront underwriting but these accounts stay with you and never question the premium.