Switching from captive to independent

Posted: Mon Sep 22, 2008 08:23 pm Post Subject:

Hi Sav

Hope you'll get this response -- I am catching up here!

I switched from Captive to Independent almost 2 years ago and am really glad I did. That said, it was tough. First of all I had a non solicit. Secondly I had to learn a different way of doing things (nothing huge, but everything is a little different as an indpendent).

I was pleasantly surprised that some of my old clients looked me up and asked me to take care of them - I did not solicit. There are ways "around" non-solicit agreements but I decided to be moral about my contracts.

The first year was rough. second year has been better. I am hoping that in year three I match the income I was making when I left captivity. I expect that I will and then it will be a decision that I don't regret at all.

Any other questions? Can I expand on anything for you?

Good luck!

Posted: Sat Oct 18, 2008 03:56 am Post Subject:

I have made that switch twice. The first time I failed miserably. There were two reasons for this:
1. I went crazy signing up with every carrier that was out there. I should have chosen a few at a time and gotten comfortable with their products then gradually added others.
2. I put all of my eggs in one basket as far as marketing. I wrote plenty of policies but put way too much money into one marketing source that seemed to be doing well for me. When it stopped working I was left holding the bag.

I went back captive with my tail between my legs but with some valuable lessons learned. When the time was right I went independent again and have done well ever since.

Posted: Fri Oct 24, 2008 06:01 pm Post Subject: Captive

Independent is the way to go. You can work with a number of carriers and nobody telling you what to do. I was captive last year and it was bad. Now being independent I can take on new offers anytime. I know help out a larger FMO with Final expense but I am independent at the same time. It is freedom.