Insurance Journal Forums

Hello, everyone.

I'm trying to come up with a plan to make my transition into insurance career a smooth one. I want to make sure that I have a safety net when I make the jump. With current company, I'm a salaried employee. Thus, I get all the benefit of a salaried employee (fixed income, vacation/sick days etc...)

Here is my situation.
I'm on the west coast. I'm working 8-5 full time right now. I can switch to a earlier shift starting at 5 a.m - 2 p.m or a later one starting at 1 p.m - 10 pm.
As far as operating an insurance agency is concerned, what are the hours that I need to be in the office most?
I plan to have my agency operate Mon-Sat from 10 a.m - 7 p.m.
From your experiences, when do your customers call/come in your office the most?

I also understand that most carriers are on the eastern time zone. It would make sense that I need to be in the office during western morning hours to deal with them. My assumption could be wrong.
Another factor: My wholesaler is California.

Your input is highly appreciated.
B)
GenYBroker.

Hello, GenYBroker.

We are a husband/wife operation with a CSR.
Normally, we don't go in the office before noon. Our excellent CSR handles all the calls while we are out networking and looking for potential clients.

Good luck with your transition.

SLPro.

P.S. PM me if you have any question.

Yeah, you would probably get more contacts in the 1pm - 10 pm block.

What are some products you will be offering??

In our agency, we are open from 8am - 12pm, 12:30pm - 5pm. We would probably gain a little bit if we stayed open until 6 but no one who works here really wants that. Our busiest times are in the morning right after we open at 8, right before lunch at 11:30, and from 3:30 - 5pm. Saturday would be another good day to be in the office, but again I don't think any employees would be good for that.

A few more things to consider; are you going to start your agency before you leave the company? I don't know about California, but a lot of companies won't let their active employees maintain a producer's license due to conflict of interest. Double check if you're going to try to do both at once.

As far as when carriers need to talk to you, it depends; if you've got a carrier with a local presence they'll be on your time, so you don't necessarily need to be on Eastern time.

You're more apt to have folks running in at the end of the day after they get off work - a lot of people turn up with a policy about to expire and try to save it in the nick of time, so being open later versus earlier is probably a good idea. Also, what works better for you? Just starting out, you want to be able to make a good impression on your new clients; if you're a real morning person and starting to drag at 3:00, you might want to start earlier. There are a lot of variables; you need to look at where you are, when most folks get off work if you think they're likely to come in in the afternoon versus the morning. What are the hours for other local agencies? That might give you an idea as to what the area can maintain.

Good luck in your new venture!

independent guy,

Do you provide life and health or p & c??

Just curious, thanks

<!--QuoteBegin-Grant+Mar 11 2005, 07:19 AM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Grant @ Mar 11 2005, 07:19 AM)</td></tr><tr><td id='QUOTE'><!--QuoteEBegin--> independent guy,

Do you provide life and health or p & c??

Just curious, thanks

[/quote]
All of the above, but the only type that generates the call volume activity is the P/C business.

Thank you all for your valuable input.

A side note:
I just went to a Farmers-appointed agency and talked to a lady who owns it about how her business is doing. She did not give me any encouragement. Instead, she said there are increasingly fierce competitions (Internet, local agencies) in this insurance business. The commissions are slim but the rent is getting more expensive by years. She has a 560 sqft office. I think it is roomy enough for 3 people.

B)

GenYBroker.

Whether you open early or stay late, or both, really depends on the type of P/C business you are targeting.

If you are looking to write more personal lines risks, then being open later during the week and on weekends has big advantages, because then you are available during much of the same time your target market is available. This is particularly true if you are targeting "non-standard" personal lines.

If you are looking to write more commercial risks, then your best bet is to come in as early as possible. Sometimes staying later helps, but weekends are typically not necessary until you are very busy. Businesses are open the same hours you are (that's why they call them Business Hours!) and the person looking for the quote is going to need you to be available when they are in the office. I have also found that the early morning hours (8:30 to 10:30) are the most productive hours for my underwriters, so its important that I am here during that time to work out the odds and ends of getting my quote.

Good luck!