by Guest » Thu Jun 05, 2008 02:12 pm
I am currently a captive life agent. I have only been in the business for three months but I really do like it. By the way, thanks to you that helped me in the beginning with your words of wisdom and insight.
I was recently approached by an independent agency that is trying to expand. I haven't met with them to discuss specifics, but we will meet next week.
I am wondering if it is a good idea to move from a captive agency to an independent agency. Everything I've read here seems to indicate that it is the way to go. But I do wonder how long it will take me to make any money at all. I don't think they will be starting me with any straight salary in the beginning like the current company I work for does. But I do like the idea of selling all types of insurance as opposed to just life insurance.
I realize there aren't many specifics here in order to really make a comparison or judgement. I guess I am just generally curious. Thank you.
I was recently approached by an independent agency that is trying to expand. I haven't met with them to discuss specifics, but we will meet next week.
I am wondering if it is a good idea to move from a captive agency to an independent agency. Everything I've read here seems to indicate that it is the way to go. But I do wonder how long it will take me to make any money at all. I don't think they will be starting me with any straight salary in the beginning like the current company I work for does. But I do like the idea of selling all types of insurance as opposed to just life insurance.
I realize there aren't many specifics here in order to really make a comparison or judgement. I guess I am just generally curious. Thank you.
Posted: Thu Jun 05, 2008 04:50 pm Post Subject:
If you are are earning a good income in your present work, I suggest you just stay there for a while. You just been in the business for just three months. Just get a good experience on the company that you have right now. If you have enough experience in insurance selling, then you go and find other greener pasture. And I suggest that you should concentrate first in learning all the techniques in life insurance selling before going to the decision of selling other types of insurance. If you have the right skills and knowledge, then that is the time to learn other things. Learn one step at a time. By doing so, you can focus only to one type of insurance and you can easily master it.
Posted: Thu Jun 05, 2008 05:53 pm Post Subject:
Thanks. That's the way I feel deep in my gut - that I should give it some time first. It's just that I always hear people say you should go independent and not captive.
Posted: Sat Jun 07, 2008 06:24 am Post Subject:
But I do like the idea of selling all types of insurance as opposed to just life insurance.
Great idea indeed!
But don't you think it needs considerable knowledge in each such procedure since they are distinct from each other..
Again see, its easy to sell different products when you really have a good database..isn't it better to develop good rapport initially so that you could rest on it in the long run? I'd personally feel that trying out too many things initially would turn you into 'a Jack of all trades & a Master of none!'
Posted: Sat Jun 07, 2008 01:24 pm Post Subject:
I agree if you are making a good income where you are why leave? I work for a Captive insurance compnay and at first I was considering going independent and I am glad I didn't. I am now collecting on renewals as well as initial commission and have had a great experience with training and mentoring.
Maybe you should make a list of the pros and cons then choose what is best for you.
Posted: Sun Jun 08, 2008 05:59 pm Post Subject:
I started with a captive agency, went independent for awhile and returned to a captive agency. There are pros and cons with each situation. You will probably earn higher advances as an independent and have more product choices but this can be a double edged sword.
The higher advances also mean higher chargebacks. You also have to develop all of your own leads which cuts into your profits.
The larger product selection also is great in some instances but many times it is harder to do a sales presentation with multiple quotes and multiple applications. You also come back to the issue of getting paid. it is a whole lot more difficult to track several companies with new business than it is with just one.
If you are serious about going independent PM me. I worked with a really good fmo out of charlotte that provided really good support. I just left because I prefer to keep things simple for myself and my clients.
Posted: Tue Jun 17, 2008 03:58 pm Post Subject:
Btw, what is the difference between the captive agency and independent agency? I'm sorry to ask this question, but I think we don't have this kind in our country. Do the selling strategy differs between the two? What is much better between the two? How about the potential market. Is there any difference?
Sorry to ask so many questions. I am just interested on the nature of insurance selling you have.
Add your comment