Search found 7 matches

by insuranceoldie
Fri Aug 23, 2019 10:30 am
Forum: Opinions
Topic: Newbie, Should I Start a Farmers or Independent ?
Replies: 24
Views: 87117

Re: Newbie, Should I Start a Farmers or Independent ?

Probably not a good 'part time' endeavor. How do you plan on writing these policies? I hope to have my agents write ( Plus myself) per year Auto: 80-90 Fire: 40 Specialty: 10 Commercial: 5 Life: 5 How will the business be brought into the agency? Cold calling, personal face to face prospecting, dire...
by insuranceoldie
Thu Aug 22, 2019 10:58 am
Forum: Opinions
Topic: Newbie, Should I Start a Farmers or Independent ?
Replies: 24
Views: 87117

Re: Newbie, Should I Start a Farmers or Independent ?

Let me be straight forward. Starting a scratch insurance agency either as a captive or if by chance if you can get contracts, as an independent is difficult! Insurers want PRODUCTION of profitable business, ongoing. They want activity that results in policies issued every single month, non-stop. Wit...
by insuranceoldie
Wed Aug 07, 2019 10:25 am
Forum: Opinions
Topic: Questions on starting IA
Replies: 7
Views: 43691

Re: Questions on starting IA

With 30 years experience in agency, I do not recommend adding 'P&C' to your investment business. Here are several reasons why: 1) You're not an expert in everything. 2) Successful agencies are full time agents who work insurance 24/7/365. 3) Insurers want premium builders, ongoing year after yea...
by insuranceoldie
Tue Dec 06, 2016 11:19 am
Forum: Opinions
Topic: Drive other car
Replies: 8
Views: 10261

Re: Drive other car

I would recommend asking the insurance company underwriter what they prefer in this situation. The company underwriter should understand their policy and procedures and advise you correctly, avoiding problems. Since every company tends to handle underwriting a bit different going directly to the sou...
by insuranceoldie
Thu Jun 30, 2016 10:42 am
Forum: Opinions
Topic: Certs - when will agents all get on the same page
Replies: 8
Views: 15797

Re: Certs - when will agents all get on the same page

The issue with special wording on Certificates has grown into a horrific mess! Some states have addressed this issue as well as accord disclaimers on the very certificates issued. However some general contractors or property managers cannot be satisfied. I may have a near perfect solution to the Cer...
by insuranceoldie
Wed Jan 20, 2016 11:51 am
Forum: Opinions
Topic: Banks - Unfair Trade Practices
Replies: 6
Views: 40960

Re: Banks - Unfair Trade Practices

I disagree that all is ok with a bank offering a half point loan reduction to do business with their in-house insurance agency. Have you heard of rebating? A 1/2 point interest rate discount is an enticement to do business with the bank by offering a rebate, a lower interest rate that may result in ...
by insuranceoldie
Thu Jul 09, 2015 10:48 am
Forum: Opinions
Topic: Is Google going to run the independent agent out of business
Replies: 20
Views: 127922

Re: Is Google going to run the independent agent out of busi

That's the big question. The outcome depends on you. Are you an order taker or insurance professional? For decades the 'experts' have heralded the fall of the independent system, which is at an all time high as I type. If you want the key to this conundrum keep reading. Your client is your key to su...