I have a couple years' experience in personal lines and would like to transition into commercial insurance. What's the best position to start in at a commercial insurance firm to really learn the business? Eventually I'd like to become a broker or move up into senior management.
Thanks in advance for any advice!
Transition Into Commercial Insurance
Moderators: Josh, independent guy
I'm in my sixth month in Commercial Insurance, having moved up from Personal Insurance. I recommend you do what I did, find the best, most professional P&C agency in your area and go to work for them in their Small Commercial department.
If you can do Personal Lines along with the Small Commercial, that would be ideal. You want to make sure to maintain your current revenue.
This time next year, you'll be a lot closer to that "broker" position.
One last piece of advice, activity breeds activity. After making your change, make sure and stay overly active...
If you can do Personal Lines along with the Small Commercial, that would be ideal. You want to make sure to maintain your current revenue.
This time next year, you'll be a lot closer to that "broker" position.
One last piece of advice, activity breeds activity. After making your change, make sure and stay overly active...
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pita3333
- Insurance Journal Addict
- Posts: 216
- Joined: Tue Dec 23, 2003 10:22 am
- Location: Greater Los Angeles Area
I would suggest finding a position as an assistant to a competent Account Manager with a quality agency. In this position you would be able to lean the commercial side of the business from the placement and serving angles. However note that above I used "competent" "quality"...you are only as good as your trainers. I myself had the wonderful benefit of being trained by two very qualified persons.
To find these types of agencies I would suggest asking others you know in our industry or even asking for referrals from insurance carrier staff.
Good luck.
To find these types of agencies I would suggest asking others you know in our industry or even asking for referrals from insurance carrier staff.
Good luck.
Michael Trouillon
Greater Los Angeles area
Consultant/Trainer agency automation system
Industry since 82
Past: Compliance Mgr master pol pgm, Ops Mgr, Marketing Mgr, Account Mgr
Greater Los Angeles area
Consultant/Trainer agency automation system
Industry since 82
Past: Compliance Mgr master pol pgm, Ops Mgr, Marketing Mgr, Account Mgr
I was in personal lines for 17 yrs when I moved over to CL. I had handled some small commercial and filled in for commercial csrs who worked PT or on maternity leave - but it had been 10 yrs between the last true commercial exp and my move. When I moved, I was personal lines manager. I actually find Commerical far less stressful than personal lines. Most people who never worked PL are very surprised by that. Anyway, some replies have already made the point; since your personal lines exp. is just a couple years, you should start in the small biz side and at larger, reputable agency. I agree 100%. My extensive background in PL is what pulled me through the first year in CL - I started in CL with mid to large accounts. I also had my CPUC when I rolled over PL to CL. Since I gather you missed out on manual rating, where you learn ALOT from that; you should also pay attention to rating worksheets - so you can see what the codes, classes and factors do to the premiums. You wouldn't believe what you can learn from knowing those basics, those little details. Either work as an Assistant to a mid or large acct manager or start as a csr of small accounts. READ the forms - READ the CP, GL basics forms of coverage and popular endorsements - Addtl Insured forms bounce all over, read them and become familiar with ht eones most popular wiht your clitntele - don't be afraid to take copies home and do some reading on your own. Take a CPCU or CIC class or two. I just took my first CIC (property) and passed the test, but again, I think my epxerience helps me thourgh alot. If you want advancement - take the CPCU andor CIC - that's a must - you have to prove yourself to your employer andyourself - to have the guts and ability to move forward and get paid for it! Good Luck - go for it! Don't wait like I did - get out of PL while you can 
Ruth
RuthHello,
There is one way you can learn all you ever wanted to know about Commerical Insurance. That's working for an MGA, preferably one who also places E & S coverage. Starting in the support area, you might have to take a pay cut depending, but you will get to handle so many different types of commerical risks and the added bonus of learning what it takes from a retail agent to get quotes from various carriers in the fastest time possible, is invaluable.
With that knowledge about the inner workings of the forms, conditions, and exclusions along with marketing and placement- you will be a very marketable person to go back into the retail world again. If that's what you want. Most people I have found that go the MGA route never really want to leave it. If they do it's to leave insurance all together. Good luck in your quest.
JLT
There is one way you can learn all you ever wanted to know about Commerical Insurance. That's working for an MGA, preferably one who also places E & S coverage. Starting in the support area, you might have to take a pay cut depending, but you will get to handle so many different types of commerical risks and the added bonus of learning what it takes from a retail agent to get quotes from various carriers in the fastest time possible, is invaluable.
With that knowledge about the inner workings of the forms, conditions, and exclusions along with marketing and placement- you will be a very marketable person to go back into the retail world again. If that's what you want. Most people I have found that go the MGA route never really want to leave it. If they do it's to leave insurance all together. Good luck in your quest.
JLT