Having worked in the p/c industry 33 years, I have come in contact with more crooks and liars = insurance brokers than I care to guess. The public doesn’t trust us. Many of us know someone ripped off by some lousy agent. Perhaps the people buying on line just don’t want any face to face with a potential scoundrel.
M Prankster, I was just talking about this over the weekend. I also have been in the business for 31 years, and the industry are still pumping out greedy, lying no knowledge agents that sell price only. Come on hard market to weed these bottom feeders out.
Guys I agree. I come across pieces of s**t frequently and do my best to cancel the sorry no good dirt bags to keep my book problem free and to protect my potential insureds. If they don’t have any markets then we limit the potential harm. But there’s still a viable reason for quality agents… the internet does a poor job of giving advice specific to each individuals needs. And yes, we need to harden the market a little, for many reasons.
I, as an agent since 1956, and an expert witness nce 1984 (1,650 case/24 states) do agree that there are a lot of bad agents out there – lacking knowledge and/or just plain thieves. But you folks haven’t seen what happens to the public when they buy on-line from a low-balling agent, or insurance companies – they get low-balled even worse, coverage are not offered or are offered at the lowest limits, and such stuff. I’ve gotten to the point now that if the public asks to get screwed, so be it.
Agreed. The problem is that we are in a commission-driven industry, and our carriers seem more interested in quantity over quality. Their contracts are stacked against start-up agents, and they reward the factory agencies who delegate to the least competent employees.
I can’t tell you how often I come across ill-conceived junk insurance programs driven by price, usually implemented by a 90-day wonder, or some CSR who never leaves their office.
There should be a minimum competency requirement before someone is allowed to sell insurance. I know agents who have been in the business for years, but the extent of their schooling is what it took to pass the licensing exam, and that is it.
As an agent for 36 years, I have seen first-hand what direct on-line companies offer. These companies low-ball all coverages and do not always offer PIP and Um/Uim coverages. Acting as their own agents. the general public does not know about the importance of reviewing coverages every year either! But just wait until they are involved in an accident with little or no coverages, they will be back in an agent’s office quicky!! As for the hard market, bring it on!!!!!
IN TEXAS, YOU MUST COMPLETE 30 HOURS OF EDUCATION CLASSES IN 2 YEARS TO RENEW YOUR LICENSE. THE INDEPENDENT INSURANCE AGENTS OF TEXAS (IIAT) OFFER YEAR ROUND PROGRAMS FOR LICENSING REQUIREMENTS. SOME AGENTS ARE GRANDFATHERS, I AM ONE, BUT I ALSO ATTEND REFRESHER COURSES. IF YOU CHECK WITH YOUR STATE ASSN, MAYBE THEY OFFER EDUCATIONAL CLASSES.
I think this article is very informative. There still are a lot of insurance agents unwilling to tap into the internet and social media marketing but the truth is people use it. People said rap music wouldn’t stick around and it has, online agents will be around. Independent Agents need to get on board and understand that this in now a form of communication for the consumer. People like using the internet because it is easy, almost always have some sort of access to it and they also can become educated on any topic themselves, especially insurance. What’s the ROI on your telephone; I bet agents don’t really care because they aren’t going to get rid of that form of communication. Social media and online searches are a form of communication that will not go away.
The only thing I am worried about when the hard market hits is all the pissed off clients that have gotten used to paying rates that have been too low for the risks. The phones will be lighting up “Why did my rate go up?! I didn’t get any tickets or accidents! All you insurance companies are just out to get my money”. I had that issue when they increased the liability in my state in 2008. I saw an average of $5 increased, and yet had close to a hundred calls stating just what I mentioned above. Even when I explained it to them, they still didn’t want to hear it. All they saw was that “The insurance company is being greedy and just wants more money”. Didn’t matter what I said, the insurance company is at fault, no matter what. I feel that the outcome is going to be the same when the hard market hits.
I couldn’t agree with all these posts more. Who will be the first carrier to get burned b/c of wreckless pricing? This market is just insanity right now. I’m seeing Argonaut slashing prices by 30,40,50% to write new business. What happened to using cheap price to buy business? Now its cheap price and broad coverage. There’s no way the carriers who grew exponentially in this market environment will stick around for long. Makes you wonder if anyone is even watching these MGA’s running amock with dirt cheap rates.
What kills me is the same agents complaining about losing commission b/c they have no sales skills whatsoever and push cheap price over coverage, are the very same people who will be complaining when their markets dry up and they have to move their books…..again.
Here’s a novel idea….quit marketing the hell out of everything and let rate increases stick. Put your business with a solid, responsible carrier and actually build a lasting business relationship. DON’T backstab your markets and place the business w/ the cheapest/easiest carrier or whoever pays you the most commission. And for the love of god…would you agents actually review a submission before sending it in? Who quotes off these worthless/half completed 2 yr old applications anyway?
Did anyone notice this survey was done by a web design company??? AIS Media. convenient a survey slants towards the very service they provide…what are the odds?
Just like with anything else ONLINE it must be taken with a grain of salt.
Having worked in the p/c industry 33 years, I have come in contact with more crooks and liars = insurance brokers than I care to guess. The public doesn’t trust us. Many of us know someone ripped off by some lousy agent. Perhaps the people buying on line just don’t want any face to face with a potential scoundrel.
M Prankster, I was just talking about this over the weekend. I also have been in the business for 31 years, and the industry are still pumping out greedy, lying no knowledge agents that sell price only. Come on hard market to weed these bottom feeders out.
Guys I agree. I come across pieces of s**t frequently and do my best to cancel the sorry no good dirt bags to keep my book problem free and to protect my potential insureds. If they don’t have any markets then we limit the potential harm. But there’s still a viable reason for quality agents… the internet does a poor job of giving advice specific to each individuals needs. And yes, we need to harden the market a little, for many reasons.
Agreed, maybe we should start advertising our agency E&O as a sales tool? Good luck going after a carrier directly for your stupid selections…
I, as an agent since 1956, and an expert witness nce 1984 (1,650 case/24 states) do agree that there are a lot of bad agents out there – lacking knowledge and/or just plain thieves. But you folks haven’t seen what happens to the public when they buy on-line from a low-balling agent, or insurance companies – they get low-balled even worse, coverage are not offered or are offered at the lowest limits, and such stuff. I’ve gotten to the point now that if the public asks to get screwed, so be it.
Agreed. The problem is that we are in a commission-driven industry, and our carriers seem more interested in quantity over quality. Their contracts are stacked against start-up agents, and they reward the factory agencies who delegate to the least competent employees.
I can’t tell you how often I come across ill-conceived junk insurance programs driven by price, usually implemented by a 90-day wonder, or some CSR who never leaves their office.
There should be a minimum competency requirement before someone is allowed to sell insurance. I know agents who have been in the business for years, but the extent of their schooling is what it took to pass the licensing exam, and that is it.
As an agent for 36 years, I have seen first-hand what direct on-line companies offer. These companies low-ball all coverages and do not always offer PIP and Um/Uim coverages. Acting as their own agents. the general public does not know about the importance of reviewing coverages every year either! But just wait until they are involved in an accident with little or no coverages, they will be back in an agent’s office quicky!! As for the hard market, bring it on!!!!!
IN TEXAS, YOU MUST COMPLETE 30 HOURS OF EDUCATION CLASSES IN 2 YEARS TO RENEW YOUR LICENSE. THE INDEPENDENT INSURANCE AGENTS OF TEXAS (IIAT) OFFER YEAR ROUND PROGRAMS FOR LICENSING REQUIREMENTS. SOME AGENTS ARE GRANDFATHERS, I AM ONE, BUT I ALSO ATTEND REFRESHER COURSES. IF YOU CHECK WITH YOUR STATE ASSN, MAYBE THEY OFFER EDUCATIONAL CLASSES.
I think this article is very informative. There still are a lot of insurance agents unwilling to tap into the internet and social media marketing but the truth is people use it. People said rap music wouldn’t stick around and it has, online agents will be around. Independent Agents need to get on board and understand that this in now a form of communication for the consumer. People like using the internet because it is easy, almost always have some sort of access to it and they also can become educated on any topic themselves, especially insurance. What’s the ROI on your telephone; I bet agents don’t really care because they aren’t going to get rid of that form of communication. Social media and online searches are a form of communication that will not go away.
The only thing I am worried about when the hard market hits is all the pissed off clients that have gotten used to paying rates that have been too low for the risks. The phones will be lighting up “Why did my rate go up?! I didn’t get any tickets or accidents! All you insurance companies are just out to get my money”. I had that issue when they increased the liability in my state in 2008. I saw an average of $5 increased, and yet had close to a hundred calls stating just what I mentioned above. Even when I explained it to them, they still didn’t want to hear it. All they saw was that “The insurance company is being greedy and just wants more money”. Didn’t matter what I said, the insurance company is at fault, no matter what. I feel that the outcome is going to be the same when the hard market hits.
I couldn’t agree with all these posts more. Who will be the first carrier to get burned b/c of wreckless pricing? This market is just insanity right now. I’m seeing Argonaut slashing prices by 30,40,50% to write new business. What happened to using cheap price to buy business? Now its cheap price and broad coverage. There’s no way the carriers who grew exponentially in this market environment will stick around for long. Makes you wonder if anyone is even watching these MGA’s running amock with dirt cheap rates.
What kills me is the same agents complaining about losing commission b/c they have no sales skills whatsoever and push cheap price over coverage, are the very same people who will be complaining when their markets dry up and they have to move their books…..again.
Here’s a novel idea….quit marketing the hell out of everything and let rate increases stick. Put your business with a solid, responsible carrier and actually build a lasting business relationship. DON’T backstab your markets and place the business w/ the cheapest/easiest carrier or whoever pays you the most commission. And for the love of god…would you agents actually review a submission before sending it in? Who quotes off these worthless/half completed 2 yr old applications anyway?
rant/
Did anyone notice this survey was done by a web design company??? AIS Media. convenient a survey slants towards the very service they provide…what are the odds?
Just like with anything else ONLINE it must be taken with a grain of salt.