buckeyes772 wrote:Thanks to all for the feedback. I am in Ohio, and they (AMFAM) are willing to set me up with 600 policies, and many other perks. The commission structure is higher than State Farm, and Allstate, but I am concerned with the name recognition. I am for sure going to start with one of them, (Except Farmers) and am grateful for the feedback from those that have posted.
I think that the "(Except Farmers
)" is a good idea. Where I'm located is a small population base on the Oregon Coast. They have attempted to start several agencies in this area with NO SUCCESS
So it may that population is a factor for success. One of the downsides in this area is the number of new FIG (Farmers Insurance Group
) agencies that are out there.
buckeyes772 wrote:I am considering opening up with American Family. I have a little over one year of Insurance sales as a "Producer", and can't stand the people I work for. Anyone out there have any feedback or information "dirt" on AmFam?
I went back and re-read this thread and saw that you have only one year in the industry. One more question I have for you to consider is "Are you financially prepared to be a start up agency?
I think that you should think about this hard. Even assuming that my area is not typical for American Family, the failure rate for scratch
agencies anywhere is high. 600 policies is a start but you will have to remember that these are orphan
policies. The agent that placed them is no longer an agent, at least with American Family. There may be, and probably is, no customer loyalty. In essence you still have a scratch
I also do not know what types of "Guarantees"
American Family offers or how good their guarantees are. When I started out with Farmers I was 'Guaranteed" a monthly subsidy that I was TOLD
I could live on
. It was really a subsidy for me to operate
my agency with. Although I could use some of it for living expenses it wasn't enough to use it for both living AND
I also don't know what American Family offers for training. At this point you are just beginning to learn how to spell the word "Insurance". The only claim to fame that Farmers has is that they can train to sell. How well they can train in insurance knowledge is debatable. You need to find out about this area with American Family. One of the posts here was by one of their agents. You should talk to othe American Family agents for their perspective. It should be a mix of seasoned and new (under 5 years) agents.
If you do decide to do this you should definitely get involved in The National Alliance for Insurance Education & research
I would not suggest the CIC Certified Insurance Counselor
program for you at this point in time due to your length of time in the industry. I would recommend their CISR Certified Insurance Service Representative
program. It is more basic and will allow you to build your knowledge with less time out of the office since their sessions are only one day instead of three days in the CIC. You can also take that program on line as an alternative, although a lot of the value is in having interaction with both the instructors and
the other participants
This is the link to their website http://www.scic.com/