I want to start my own auto home & existence insurance agency next to no experience. Where should I start?
Info on where I get information on how to start an agency and take an understanding of the business? Specific offices or offering are suitable.
Answers:
You're going to hate this answer, but it's the truth.
Start by getting a job beside an agency, as receptionist or CSR. Honestly, with NO experience, you have NO conception how the whole insurance/agency system works, or even if you're going to like it. If you work for someone else for a couple years, you'll revise the ins and outs, make valuable contacts, and own someone paying YOU to learn how to solve problems.
If you don't want that, you can always contact State Farm, Farmers, or Allstate, and see if they'll sign you on as a inmate agent. Then you have to self study, pass the test, and go out and sell - you don't receive paid, unless you sell - it's straight commission work, and the "mentoring" isn't nearly so strong as it is if you're working for someone else. Plus, at hand are more up front costs, such as YOUR liabiltiy and E&O insurance, office supplies, etc, so you'll need some brass to start up. And if you hate it, you're out the cash. If you're starting your own organization, you need to work 60-80 hour weeks at first, just to rake over by. If you're good, and work yourself that hard, you *might* construct $40,000 the first year. Just enough to keep afloat.
95% of agents clean out the first year. If you either can't sell, or don't want to put surrounded by those kind of hours, you're going to wash out. Business doesn't come to you, and getting lead is HARD.
That's why I recommend working for someone else for a while. Source(s): agent, 21+ years
That's sort of like wanting to open a waffle shop in need any restaurant experience, isn't it? Sure, you've eaten waffles in the past and you like them and you want to share waffles beside everyone, but you have no idea how to run a profitable restaurant. You inevitability to learn: sales technique, marketing, product specifics and uses, competitive information, contracts & licensing, underwriting, regulation, and the basics of related fields such as accounting, decree, and securities.
I started in personal sales and moved to a brokerage nonspecific agency to learn more. Some of you may be surprised, but I still don't know it all ;) Source(s): Independent agent
Former insurance brokerage arranger
Related Questions:
Answers:
You're going to hate this answer, but it's the truth.
Start by getting a job beside an agency, as receptionist or CSR. Honestly, with NO experience, you have NO conception how the whole insurance/agency system works, or even if you're going to like it. If you work for someone else for a couple years, you'll revise the ins and outs, make valuable contacts, and own someone paying YOU to learn how to solve problems.
If you don't want that, you can always contact State Farm, Farmers, or Allstate, and see if they'll sign you on as a inmate agent. Then you have to self study, pass the test, and go out and sell - you don't receive paid, unless you sell - it's straight commission work, and the "mentoring" isn't nearly so strong as it is if you're working for someone else. Plus, at hand are more up front costs, such as YOUR liabiltiy and E&O insurance, office supplies, etc, so you'll need some brass to start up. And if you hate it, you're out the cash. If you're starting your own organization, you need to work 60-80 hour weeks at first, just to rake over by. If you're good, and work yourself that hard, you *might* construct $40,000 the first year. Just enough to keep afloat.
95% of agents clean out the first year. If you either can't sell, or don't want to put surrounded by those kind of hours, you're going to wash out. Business doesn't come to you, and getting lead is HARD.
That's why I recommend working for someone else for a while. Source(s): agent, 21+ years
That's sort of like wanting to open a waffle shop in need any restaurant experience, isn't it? Sure, you've eaten waffles in the past and you like them and you want to share waffles beside everyone, but you have no idea how to run a profitable restaurant. You inevitability to learn: sales technique, marketing, product specifics and uses, competitive information, contracts & licensing, underwriting, regulation, and the basics of related fields such as accounting, decree, and securities.
I started in personal sales and moved to a brokerage nonspecific agency to learn more. Some of you may be surprised, but I still don't know it all ;) Source(s): Independent agent
Former insurance brokerage arranger
Related Questions:
- Auto Insurance 3 years after despoliation?
- Will fracture insurance remuneration if my auto insurance doesn't want to?
- How and where on earth to buy an ICBC Autoplan agency licence to go auto insurance contained by Surrey B.C.? Costs?
- Do you own to pay packet taxes on an auto insurance settlement?
- Does lojack decline auto insurance rates?