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 Posted: Thu May 28, 2009 1:40 am Post subject: |
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Chris,
What some agents don't realize is that there are production levels that have to be made in order to get the IMO contracts. These are huge levels that no one agent could possibly do. So, needless to say, I have to meet certain criteria to sustain these contracts. It takes many agents to meet this. Now, because I am able to get these contracts, I can give good contracts. I give GA contracts out like candy. MGA contracts are at my disposal to give and I give those quite frequently too. I'm not in this to make a killing off one agent. I'm like Wal-mart, I deal in volume. That way, the agents reap the benefits...after all, they are the ones selling!!
Most of my contracts are given out at a simple 5% overwrite. That's just one level down from me in most cases.
I guess because of what I do and the way I do it (not screwing the agent), I take it a little to heart when someone bashes me without merit. Stating the exact opposite of what I do and who I am.
I still suspect that those two negative posts about me where from competitors. They (just like me) are all over these boards.
If it is competitors, the only reason they would do it because I have a tendency to let agents know what they should be getting. I'm ratting the greedy ones out you see.
I do have to agree that there are some shady ones out there, and how they remain in business is preying on the unsuspecting, usually green, agents. They come to me once they've seen the light! Then they get really surprised when I start raising some of their contracts by as much as 20% and more.
Thanks for letting me rant a bit. I tend to get excited when exposing greed!
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TRK3031962
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| Posted: Thu May 28, 2009 5:51 am Post subject: |
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| Quote: | | However, as with any other industry, a few bad apples can spoil the bunch |
You are absolutely right Chris. But its unavoidable as well. Negative practices are also a part of the system. You only have to carefully choose the right option. |
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JeremyHolter
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| Posted: Mon Jun 01, 2009 3:43 pm Post subject: |
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Many negative practices are the result of sheer laziness and greed. I read a story about an agent who was pushing expensive policies and products (didn't really have specifics) to people within his community. He admitted that it got to where he didn't even want to go to the grocery store because he was afraid he'd run into a disgruntled client.
Did he make good money? He says he did...but what kind of quality of life is there if you're afraid to go out in your community. Not to mention the difficulty sleeping at night!
There are many shortcuts that agents can take, and many people to take advantage of. I'm simply not willing to do that just to be "successful." My definition of success must be totally different than those agents. If you do the right thing for the right person, you never have to apologize for your actions! |
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ChrisBantly
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| Posted: Tue Jun 02, 2009 8:52 am Post subject: |
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I was wondering how much he has hurt the community.
He get people in buying the wrong products that wouldn't be useful for them. Just think how many people might have bought wrong and expensive coverage from him.
I think that though he might have benefited from this practice businesses would eventually stop coming to him and he would be left with to find alternate ways to cheat people.
~Jeremy |
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JeremyHolter
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| Posted: Thu Jun 18, 2009 4:24 am Post subject: |
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| I think its mostly depends on his work. |
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BellyAdams
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| Posted: Thu Jun 18, 2009 9:26 am Post subject: |
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| Quote: | | I think its mostly depends on his work. |
Not sure what you have meant by this. May be you would explain it more. |
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simon
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| Posted: Sun Jun 21, 2009 12:17 am Post subject: |
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It's amazing if you think about the impact that one person can have on their community, for better or worse! Think of all the people that were this agent's clients...Do you think they will ever trust another insurance agent? Maybe...but it will be incredibly hard to build that trust with them.
It should be the goal of each of us to be a trusted advisor and to become so with integrity and honesty! After all, if we each treated our clients as we would our family members...how many clients would be in different products. I've personally walked out of a client's house and advised them against going with any of my products.
The fact of the matter is that there are strengths and weaknesses to each company...
If I emphasize the strengths...and downplay the weaknesses...
THIS IS DISHONEST, UNETHICAL, and happens constantly in many sales industries! |
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ChrisBantly
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| Posted: Sat Jun 27, 2009 1:57 am Post subject: Insurance agents/brokers |
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I work for a very big private transportation firm. We do work all over NYC, NJ, CT, Long island, Up state New York too.
And because our business is 100 percent owner operated each driver has to get his own insurance with the premium being like 1.5 million to 2 million to cover each passenger.
And now, I am interested in being an insurance broker, I like the idea of being on my own, working and being a professional in the field. I do not fear being rejected. And I am not interested in selling life insurance. I can do it if needed, but thats not my focus.
Anyway, our office is right next door to an insurance office, who maintains about 75 percent of the drivers insurance. They are an insurance broker. And they don't even speak very good english. But they make great money. I know this because ive known them for years. And I never thought about doing what they did.
But one thing for sure in regards to sales and customer service I surpass these people beyond a resonable doubt. Even my dad bought insurace from there.
Now these drivers are not your regular nyc drivers, they pay top dollar for insurance. Some drivers pay up to 10,000 a year for full coverage.
Now if I was an independant broker, I know I can gain more than half of their clientel. If I had a little office with a fax machine and a PC I know for a fact I can take their business. They are really bad when it comes to customer service.
Now this is where I ask you guys the pros for help. Because I have yet to get a license. I read on state farms website that they help people become agents, but I don't know if I would have to only work for them ? I really want to do this. I am so hyped. Please let me know and what you think I need to do in order to be a licensed broker. I know you have to take a course in NY state and take a pre exam and then a real exam.
Give me a break down, much appreciated guys. I respect everyone here and wish everyone best of luck.
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Moe
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| Posted: Thu Aug 20, 2009 6:46 am Post subject: |
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My boyfriend of three years has began a career of being an independent health/life insurance salesman. He truly is bright and i have alot of faith in him. I do, however, have doubts about the career choice itself. I'm well aware that there are many different factors to determine the success rate of being a salesman, but wonder if ultimately its a profitable and worthwhile adventure. He also has spoken about myself getting certified and starting off by being his "secretary" but urged my license in selling because i could recieve commissions. Just curious how successful we really could be?
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dased and confused
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| Posted: Thu Aug 20, 2009 9:05 am Post subject: |
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Hi dased and confused..
See, the insurance industry is surely the biggest financial industry, and you could rest assured that being a part of it you could have a lot of opportunities coming your way!
| Quote: | | Just curious how successful we really could be? |
Now, you haven't mentioned anything about his past experiences as a salesman. Neither have you mentioned anything about your career choice. Based on your qualifications (and also past experiences if any) you'll need to decide whether you'd like to join this field.
Also, you shouldn't forget that the sales profession is about achieving figures and you shouldn't fall short of it. Keep me fed of your likings, once you've given it a thought. Steven |
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steven
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| Posted: Wed Sep 23, 2009 11:56 pm Post subject: Insurance Recruiting Contracts |
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Ok so I am a independent agent and have been working with a group for the past year. I have been doing interviews to bring fresh new talent into this industry as I make a profit from there production. Upon interviewing some licensed agents I was asked if I had a recruiting contract with any companies? I was then informed that those types of contracts can yield you 100% + on sales. I would like to offer my current agents a higher commission but cant because I am maxed out myself. Of course I would not mind more commission myself but raising my current agents commission now would only help retain more agents for the long run. Is there such a thing as a recruiting contract? And what are the pros and cons? Thanks for all your help everyone!
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INEEDHONESTADVICE
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| Posted: Sat Sep 26, 2009 2:22 am Post subject: |
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I earn $40-50 k per month.
But I work 60 hours a week.
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| Posted: Wed Sep 30, 2009 7:49 pm Post subject: Peak this |
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How much does an insurance agent makes that is just starting off
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Jamie Lee Foster
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| Posted: Wed Oct 07, 2009 10:28 pm Post subject: |
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HOW MUCH DOES A COSTUMER SEERVICE/MANAGER WITH 3 YEARS EXPERIENCE WITH ALLTATE MAKES A MOTH?
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BILH
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| Posted: Thu Oct 08, 2009 5:39 am Post subject: |
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If you're a customer service rep your salary is supposed to range between $21k-$37k. If you're an office manager it would range between $49k-$53k. The more experience you have higher would be your pay.
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anonymous00
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