New Career In Insurance, Need Opinions On Companies

vicious503 · Post by **vicious503** » Tue Sep 13, 2005 10:55 pm

I'm starting a new career in insurance and need opinions as to which company would be better at providing a good foundation for a new career. These are just a few of the companies that I have interviewed with listed alphabetically:

Allstate
Bankers Life and Casualty Co.
Countrywide Home Loans
Famers Insurance
Liberty Mutual
Northwestern Mutual Financial Network

Which of these would be the better company to work for? Which are the ones to avoid? I want to especially hear from those who have actual work experiences with any of these companies. Also, suggestions of another company that I have not listed that I should look into and try to get an interview with would help as well. I just want to narrow down my opportunites so I won't be wasting my time. Thank you.

sanddog · Post by **sanddog** » Sat Sep 17, 2005 11:57 am

All of the companies you listed are a major waste of your time. The only exception may be Allatate.
I would like at Allied: you own your buz, Safeco: you own your buz, Statefarm: your and employee
Allstate: own some and employee. Good luck

sanddog · Post by **sanddog** » Sat Sep 17, 2005 12:03 pm

vicious503, opp's one more thing, look in the passed postings there is ton's of information for your questions. The Brokers and agents that can best answer ALL of you questions don't have enough time, I would suggest narrowing your question to just one or two.

Joe Agent · Post by **Joe Agent** » Sat Sep 17, 2005 7:11 pm

vicious503,

When you are new to the field you will have limited options. If you intend to make a career out of this you will want to be an independent agent somewhere down the road. However, you may not be able to start out this way. So wichever route you decide on make sure you are always planning on being independent. Before you sign a contract with a captive prepare ahead of time how you will get out of that contract and keep your clients.

Anyway thats my two sence.

vicious503 · Post by **vicious503** » Sun Sep 18, 2005 11:38 pm

Thanks for the insite you guys. I eventually narrowed it down to Allstate and Farmers after a few more interviews. That was the easy part. The hard part was deciding between the two. I finally ended up signing with Farmers because they just seemed friendlier.

From what you guys wrote, it seems like it didn't really matter much either way because eventually my goal is to go independent. I just wanted to avoid the ones that would be a big waste of time and energy. I think I'll get a good foundation into the insurance business with Farmers.

So now that I'm headed into insurance, do you guys have any websites that would be a good resource for information in general? Seems like this forum doesn't have alot of traffic.

Joe Agent · Post by **Joe Agent** » Mon Sep 19, 2005 3:34 pm

If you are going with Farmers you will want to visit http://www.ufaa.com (United Farmers Agents Association). You will be able to get some information there.

Good Luck!

sanddog · Post by **sanddog** » Tue Sep 20, 2005 9:48 am

farmers farmers, god help us the biggest mistake of your appointment, that will become a very short career. Go hang with a real live insurance broker and learn and make money, with out (farmers fear management style) hanging over your head. Don't forget you must sell a ton of life insurance or your gone. I don't sell insurance to your friends and family.

92builder · Post by **92builder** » Mon Oct 31, 2005 12:10 pm

Can't any of you people spell??? 503, please take these comments in stride, but being an IA is by FAR the best way to be. Sure, you may make some cash with these companies, but you need to be off by yourself in the next three years earning what you're worth.

sanddog · Post by **sanddog** » Mon Oct 31, 2005 1:40 pm

Sorry ! your correct concerning spelling. I personally don't have time to present the perfect rebuttal
and check my P's & Q's in these forums. Will try harder

Advisor · Post by **Advisor** » Thu Nov 03, 2005 11:55 am

92builder wrote:Can't any of you people spell??? 503, please take these comments in stride, but being an IA is by FAR the best way to be. Sure, you may make some cash with these companies, but you need to be off by yourself in the next three years earning what you're worth.

If you're going to criticize someone's spelling then check your grammar!

kevinraz · Post by **kevinraz** » Thu Nov 03, 2005 12:14 pm

vicious 503, I started out with Farmers 10+ years ago. Went with them for 3 years, jumped to IA side, now I'm an underwriter on the company side.

Farmers gave me a great start, had a superb district manager, but most other management & company folks were difficult. Company is hard to work with & for and they often make poor corporate decisions. I left in 98 due to their technology being so bad that is was screwing up 10% of my accounts every month.

Their attrition rate for newer agents is sky high so don't be surprised or feel bad if you need to leave after 2-3 years. Take advantage of their excellent training, both on product side & sales stuff. If you can survive there you can survive most anywhere.

I've had a great career in insurance & much of my success I must credit to Farmers and the training they put in me. In many ways I wish it could have worked out there.

Also strongly recommend you visit ufaa.com but don't get too discouraged by what you read, many posters there tend to be overly negative.

Send me a private message if you'd like to make contact.

All the best,

Kevin Raz

jellzey · Post by **jellzey** » Fri Nov 04, 2005 11:01 am

find a good IA in your area and see if they are looking for a new agent. that is definately your best bet. if anyone says differently ask them how much money they make.

sanddog · Post by **sanddog** » Wed Nov 09, 2005 6:32 pm

Kevinraz, very nice point that you made concerning your prior employer, and there is some validity to the comment. If you choose to work with a broker, I recommend never ever telling any commercial carriers underwriter you were a farmers agent. The training may be good from your point of view, which is farmers only. And the DM only knows farmers as most of those guys are X agents.
You need to learn the market place and how to manage an agency from a broker point of veiw.

Miked · Post by **Miked** » Thu Nov 10, 2005 11:36 pm

I am also not a big fan of Farmers. They care more about the bottom line then there employees.

gregcw · Post by **gregcw** » Fri Nov 11, 2005 1:11 pm

I,m glad someone had a "superb" DM with Farmers. I consider mine was a District 'Mangler' not Manager. I was appointed by Farmers for 7 years before we decided to part company. This was shortly after they were aquired by British American Tobacco U.S.

As an Insurance company they do an adequate job. If only their management could be trained to be truthful. I had more lies told to me by the management team that I can't believe that it is not company policy. In my service area there are currently 3 State Farm agents and 8 Farmers agents. When I started in the business with Farmers in 1982 there were 3 State Farm agents & 4 Farmers agents. Over the next 23 years State Farm has appointed 3 new agents and has had 2 retire to maintain 3 agents. Farmers, however, has appointed at least 35 agents and has only had 3 agents retire. There may be agents that Farmers has appointed that I am not aware of but there are still only 7 offices with 8 agents.

If vicious503 decides to go with Farmers, he needs to watch his backside. The plus with Farmers is that when you leave the companies you have a guaranteed purchaser for the agency. FARMERS!! however they only pay up to 100% based on your last years renewal commissions and NOT your total premiums/commisions. An independent agency value is based on total written premium/commissions and the percentage is negotiable but always starting at 100% +.

New Career In Insurance, Need Opinions On Companies

New Career In Insurance, Need Opinions On Companies

too many question dude

Farmers

I am also not a big fan of Farmers. They care more about the