Search found 19 matches

by randrew54
Thu Dec 08, 2016 11:13 am
Forum: Opinions
Topic: Nationwide sells Non-Std Auto to National General
Replies: 0
Views: 14613

Nationwide sells Non-Std Auto to National General

Nationwide exclusive agents found out today all their Non-Standard auto business (including commercial) will be non-renewed effective July 1, 2017. Nationwide sold the renewal rights to National General. Despite the press release that states National General will work with exclusive agents, agents w...
by randrew54
Wed Aug 03, 2016 11:02 am
Forum: Opinions
Topic: Geico or Elephant
Replies: 9
Views: 9996

Re: Geico or Elephant

No. Geico and Elephant have the same practice cutting rates when a client calls to cancel. Cable companies have been doing this for years. I just don't know how the insurance companies are filed to be able to do this or are they doing something they shouldn't be doing?
by randrew54
Wed Aug 03, 2016 9:02 am
Forum: Opinions
Topic: Geico or Elephant
Replies: 9
Views: 9996

Geico or Elephant

I'm curious to know out how Geico and Elephant are filed with the insurance bureau. Both companies have a practice similar to Verizon or Comcast. If a customer calls to cancel they will transfer them to a specialist who is able to lower their rate. This practice is common with cable companies or cel...
by randrew54
Thu Dec 17, 2015 1:09 pm
Forum: Opinions
Topic: Banks - Unfair Trade Practices
Replies: 6
Views: 39409

Banks - Unfair Trade Practices

Banks have penetrated the insurance industry in a big way. Banks are growing mainly through acquisitions but they are also growing through unfair trade practices. I recently lost a large commercial account because my client was applying for a loan. The loan officer told him he may be able to get a p...
by randrew54
Fri Oct 03, 2014 7:12 am
Forum: Opinions
Topic: The next five years
Replies: 15
Views: 12327

Re: The next five years

I agree with the comments above. We are realigning our agency with insurance companies that do not have multiple distribution channels, value the independent agency system and compensate fairly. Agents need to wake up and fight back if they want to stay in this business or sell their agency.
by randrew54
Thu Oct 31, 2013 11:40 am
Forum: Opinions
Topic: Erie Insurance, feedback please.
Replies: 7
Views: 13147

Re: Erie Insurance, feedback please.

I would stay away from Erie. Erie has appointed too many agents and their competitive position has taken a turn for the worse. Erie's compensation is low and their systems are terrible! Don't fall for the bonus trap either.
by randrew54
Thu Apr 21, 2011 10:55 am
Forum: Opinions
Topic: Should friend buy an AllState Agency? - Help!
Replies: 8
Views: 45176

Re: Should friend buy an AllState Agency? - Help!

NO! If you value your friendship at all you need to tell him to run away, FAST!
by randrew54
Tue Apr 19, 2011 10:31 am
Forum: Opinions
Topic: Allied Insurance - Agency terminations.
Replies: 12
Views: 6738

Re: Allied Insurance - Agency terminations.

Keep in mind, Allied is owned and operated by Nationwide Insurance. Nationwide is famous for cancelling appointments and trying to solicit agency customers. Nationwide has done this for years with personal lines, commercial and even financial business. They have been able to get away with it because...
by randrew54
Thu Feb 24, 2011 11:50 am
Forum: Opinions
Topic: Allstate - What is going on?
Replies: 3
Views: 2867

Allstate - What is going on?

What is going on with Allstate Insurance? I have never seen so many Allstate agencies for sale, while at the same time, the company has launched an aggregive recruiting campaign to bring on hundreds of new agents. If you're an Allstate agent please explain what is going on with the company.
by randrew54
Fri Dec 10, 2010 11:56 am
Forum: Opinions
Topic: Encompass VS. Kemper
Replies: 10
Views: 5670

Re: Encompass VS. Kemper

Do not sign up with Encompass. Their rates are high and their claim service is subpar.
by randrew54
Tue Nov 09, 2010 12:05 pm
Forum: Opinions
Topic: Average premium volume
Replies: 4
Views: 7401

Re: Average premium volume

I'm not sure about the other agents who replied but I have been in this business long enough to know what is realistic and what is not. Writing 1 million dollars of new business each year, is not realistic, especially for a small town agency. The average personal lines agency writes between $200,000...
by randrew54
Fri Oct 22, 2010 11:35 am
Forum: Opinions
Topic: State Farm Commission Structure
Replies: 15
Views: 120865

Re: State Farm Commission Structure

State Farm's new agent contract is terrible and don't believe them when they tell you you'll make more money on the new contract with the bonus. Agents used to get paid 15% but over the years State Farm has cut commissions down to 7%. Let's do some simply math, if you take over a 2 million dollar ag...
by randrew54
Wed Sep 22, 2010 10:51 am
Forum: Opinions
Topic: Lexis/Nexis Insurance Exchange
Replies: 2
Views: 1670

Lexis/Nexis Insurance Exchange

The Lexis/Nexis Insurance Exchange takes effect on October 12, 2010 and I was wondering if this will be able to insurance agents or just large brokers? If it's available to smaller agents how much does it cost?
by randrew54
Thu Sep 09, 2010 10:48 am
Forum: Opinions
Topic: Progressive appointment
Replies: 4
Views: 2773

Re: Progressive appointment

There was a time when Progressive was appointing anyone who had a license. Progressive is still the most resonable company when it comes to appointments but be ready to discuss how you are going to attract new customers. Why should I buy from you instead of Geico, State Farm or any other company? De...
by randrew54
Thu Aug 19, 2010 11:20 am
Forum: Opinions
Topic: What will it take to Sell?
Replies: 6
Views: 2800

What will it take to Sell?

I am a fairly new agent and ever since I first got started I have been mailing letters, making phone calls, sending e-mails and stopping by from time to time independent agents who have been in the business for while to see if they want to sell. I would think with the soft market coupled with the ec...