by ambeals » Wed Feb 18, 2009 11:37 pm
I am looking at starting an agency from scratch. Can anyone recommend a few good carriers that will look at a brand new agency. I have almost ten years of experience in claims and 1 year of sales.
Posted: Thu Feb 19, 2009 07:02 am Post Subject:
Can anyone recommend a few good carriers that will look at a brand new agency
it is not very clear from your post which type of help you are looking can you
elaborate little bit on this. :wink: :wink:
Posted: Thu Feb 19, 2009 10:20 am Post Subject:
You may have to knock the doors of insurance carriers to know whether or not they would accept a new agency. I know of State Farm and Allstate, they prefer to have captive agents then bonding up with independent agencies.
However, sketch out a sound business plan before showing up for the interview.
Posted: Sun Feb 22, 2009 06:24 am Post Subject:
What type of insurance...P&C or Life or Health.
If it is Life you can go three ways:
1) become captive....sign up with one carrier and only sell there products. Problem is you will be undercut by independent producers and will be severely restricted in how you can help you clients. Although you may get marketing support, health insurance, and maybe a 401k
2) Sign up directly with a carrier or two....being new you will get very very low contracts (because you dont have any volume yet) and you will still be pretty restricted in what you can sell and in terms of support...good luck.
3) Find a good BGA that will take new agents (normal at a slightly reduced contract level). This way you will have direct access to most large carriers, back office support, processing, advanced planning, underwriting, etc. This is obviously my recommendation.
As far as P&C....i have no idea.
Posted: Mon Feb 23, 2009 08:48 am Post Subject:
If you are going the life and health route take a look at IHIAA, they can help you with contracting, they are an association not an FMO or IMO. You can also contact the carriers you want directly allthough a lot of times they will only offer as earned contracts. (It is a good idea to have at least a few like this as if you get all advance contracts you might dig yourself a hole you will have a hard time getting out of later.)
Posted: Wed Feb 25, 2009 05:36 pm Post Subject:
You can't tell me that Ihiaa don't get a cut somewhere for just recommending one FMO and one IMO. If that was the case they would have a list of FMO's to pick from. I bet a lot is going on under the table there. You think that Ihiaa is turning down money? Ihiaa makes money from everything on their website, this is how they make a living or the site would be free.
Posted: Wed Feb 25, 2009 06:43 pm Post Subject:
I agree...they must be getting some type of kickback for recommending an IMO. Also note that they only do Health insurance. Even though you get a Life & Health License, Life and Health are very different sides of the business and you would use different BGA, IMO or what ever you want to call them for each.
Posted: Mon Mar 02, 2009 07:29 pm Post Subject:
For $20/m hard to beat the info and discounts that ihiaa offers. On the life side I like pjpce.com. They have a good system set in place for selling Life over the phone. Mountain financial has something similar.
Now all you need is leads )
Posted: Tue Apr 28, 2009 12:42 pm Post Subject: New Agency
Put yourself into a good selling situation you may want to contract with multiple carriers ,as you know one product dose not fit all give your clients options. I am aware of many companies that will train you on Sales Techniques as well as there products .
Further assistance needed please let me know.
JIM,
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