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Recently, I have been approached by a representative of Horace Mann who saw my resume online, about replacing a retiring agent in MA. As one can infer, I've been unemployed for a while and am considering the offer which comes with a small book of business. I would have to sink some of my own money into the venture, but not sure at present how much. Still need some talking to do. I understand they're in the educational personal lines market but my territory is "limited" in this area. Wondering what opinions others have of Horace Mann as I have not heard of them before. I have worked as controller in an agency as well as commercial and personal lines agent and am licensed. Thanks.

Your best source for information about this offer is the retired agent. If I were in your position, and interested in a potential captive agent career, I'd seek out the retiring agent, offer to buy a meal, and have at it for an hour or two.

I would think that all issues...competitiveness, compensation, growth potential, company culture, market direction, claim handling, cross selling opportunities would and could be discussed.

That company is known as a 'teachers' insurance company, and at least in my neck of the California woods, has decent, competitive rates, but as always, your milage may vary. A big question is whether or not you can offer coverage outside of the educators market, and the strength of the educator employment marketplace in your area of business. Lower student enrollment, laid off teachers and administrators and closing schools probably won't bode well for the immediate future of pitching products to that market segment.

Good luck.

Might be a good opportunity but they do have a limited market: education.

That said, there are quite a lot of people in this field. Elementary, middle, high, college, university, etc. Not just the teachers but administrators, maintenance, everyone.

Rates are usually good, coverage is better than most (good educators legal liability endorsement). Used to be very well known by teachers, not sure if that is the case any more. Endorsed by NEA which is a big deal, means you can set up at teachers conventions, get into schools easier for staff fairs, etc.

Check it out, move forward with some research. Do you like the education field? Are you someone who is always learning or are you a 21rst century moron? Teachers are usually smart, if you are not you'll run into issues.

Good luck!

Make sure you do your homework with the retiring agent and ask the Horace Mann rep lots of questions. I know a few years ago HM sold their MA personal auto book to Commerce Insurance. I'm not sure if they are back writing in MA or not as Horace Mann. You should confirm what lines they are selling in MA and if they'll allow you to contract with other companies.

As a MA agent, I can tell you it's a difficult market right now. The change in the MA personal auto market to competitive rating has pushed rates way down. Low rates mean lower commissions and higher loss ratios - which means less profit sharing! Consumers were doing a lot of shopping when the change first occurred but that has settled down a bit. But you still need to have a company with competitive pricing. Before HM pulled out of the personal auto market, they were a competitive company. I never run into them now, so I don't know how they stack up.

Good luck!