Becoming a Commercial Producer Questions

[wyfair]

Hello,

I'm looking for as much information as I can about starting as a commercial lines producer for an Independent Agency in Oklahoma. Here is some of my back ground and then some questions:

I am 23, and have been selling insurance for a captive agency for 3 years. The 2 owners had a friendly split, and one opened up an Independant agency. They have both been in the insurance business for 20 years, but only as exclusive agents. I stayed with the captive agency side, with the idea of learning insurance and getting experience. Then after a while, I would switch over to the independent agency, Where I want to focus on selling commercial insurance.
We are talking about me making the switch fairly soon. I Only have experience selling P&C. We've talked a little about commission splits, and it looks like it will be at 50/50.

So here are some questions:
What are some good ways to find To educate myself on commercial insurance products? Online classes. I don't have $3000 to spend or I would take the Hartford class. I've searched a bit but there seems to be a lot out there, so I was looking for your opinions.

What do I need to have as far as contracts to protect myself, and my future book there? Do we need to work on contracts together? or is there a good resource to find some online?

Any other suggestions and tips on Being a commercial lines producer are very much appreciated!

Thanks

[AgencyEquity]

I took CIC courses, however those are advanced courses, perhaps best after you have been selling for at least a year. The good news is, a lot of insurance carriers put on their own product training, also if you get an opportunity with an agency that has many producers, you will have mentors in addition to a training program. I think the key is finding the right agency that has an existing training program as well as taking advantage of as many carrier courses as you can. You may also want to visit my website linked in my signature, I have a number of resources and producer openings that should be of help to what you are looking for.

[wyfair]

Thanks
I have looked at cic courses. Like I said I've been selling personal lines for 3 years now. Insurance comes fairly naturally so I'll probably be ok to take those I think.

[Croberts24]

I would strongly encourage you to take on the CIC courses. In Oklahoma there are a fair number that are held each year so that your achieving the CIC designation could be accomplished fairly rapidly. More importantly, however, is that these courses are normally very "content rich" and will allow you to learn at least the basics of the coverages in a short timespan so that you can immediately apply your knowledge in real life.

Congratulations for looking forward and figuring out how to attain greater knowledge and value...for yourself as well as for your future customers.

Casey
Laurus Insurance Consulting

[Kirk]

I would recommend the National Alliance Dynamics of Selling program, which is put on by the same people who do CIC. CIC gives you specific coverage knowledge, which is needed, but the Dynamics program will teach you how to sell commercial insurance. You can buy the CD's for pretty cheap - the program itself is about $500 plus hotel/travel. Good luck to you.

[gregcw]

A quick note on the National Alliance Dynamics of Selling program, in order to attend that you need to have the CIC Designation. To learn more about that program go to http://www.scic.com/. To get the designation you have to attend and complete five of the CIC (Certified Insurance Counselor) Institutes. You can substitue one of the CRM (Certified Risk Manager) Institutes. You might want to substitute one of those for either the Agency Management Institute, since you are not an agency principal or the LIfe & Health Institute which does not deal with P&C. It is a worthwhile designation to obtain.

[Kirk]

A quick note on the National Alliance Dynamics of Selling program, in order to attend that you need to have the CIC Designation. To learn more about that program go to http://www.scic.com/. To get the designation you have to attend and complete five of the CIC (Certified Insurance Counselor) Institutes. You can substitue one of the CRM (Certified Risk Manager) Institutes. You might want to substitute one of those for either the Agency Management Institute, since you are not an agency principal or the LIfe & Health Institute which does not deal with P&C. It is a worthwhile designation to obtain.

I was not aware of the CIC requirement. I did the proram in 2008 and did not yet have the CIC. They must have changed it. Sorry for the mis-information!