Any and all advice

[joshhaggart]

Hello all.

I am a brand new to Insurance. I am working for a small town Independent Agency, I've been licensed in Health, Life, Med-Sup, Property and Casualty for about a month. Right now, my agency is "grooming" me to work in all departments of the agency, to see where I fit best(I was basically hired in good faith, as there were no open positions available when I went in, but they liked me for some reason and decided to give me a chance to see what I can do). Right now I am training in the Personal lines, P&C department. I am twenty three years old, and would like to make a successful career in the Insurance business.

Does anyone with great wisdom have any advice for me? Maybe something you wish you had done when you began your career? Ways to not only stay afloat, but to flourish, and make a rewarding career?

Thank you to everyone in advance, I hope to hear from you and get some great advice.

[rcenters]

Is a sales role on the table? If so, I would recommend you be certain you're prepared for what that would take - cold calling, for example.

[d's insurance store]

Most likely the agency isn't hiring or grooming you to just service accounts. They probably see you in a production role as that's where the revenue comes from to keep the lights on and the people paid.

If sales is where you're headed, I would say get interested in the Commercial side of things, as that's where the growth and income are going forward. Sure, Personal Lines seems like an easier sales path...after all, everybody needs auto insurance if they're driving, house insurance if they've got a mortgage and those policies just keep on renewing month after month, making money while you sleep. But unless this agency has a strong personal lines marketing program and the population to go after, in this day and age, I think it's a dead end for small bucks.

Commercial, presuming that the geography gives you a potential marketplace and the agency has the appointments to offer products, gives you the opportunity to become the 'expert' in a handful of thought out areas and then leveraging that expertise to prospects gives you a boost when you make a sales call. Premiums are higher, too. Higher premium equals higher wage. Find some industries or business areas that abound in your area and match those segments up with carriers that offer the best products for the best risks. Tight specialization also gives you the ability to do web search marketing, so when Farley's Cricket Farm does a Google search for Cricket Farm Insurance, and that's one of your sweet spots and you've posted that fact on the agency web page, and you've studied the industry and can give value added advice with a good Cricket Farm policy, who do you think Ol' Farley is going to buy that coverage from? Why you, Josh, because you've got the total package. And Farley is going to tell all of his Cricket Farming friends about what a great job you've done, and that, Sir, is how you build credibility and a business.

Right now I make my income primarily on Personal Lines, but I'm old and in the twilight of my career. If I were starting out, I'd can the Personal Lines and start right in with targeted Commercial, just as I've suggested.

[jtownagent]

If you want to go into poduction/sales in P&C, I generally agree with "D". With that being said, first look within yourself and do what you enjoy. You are going to go to work everyday for the next 40 years, so make sure it is as fun, enjoyable, and brings you as much satisfaction as possible. I believe there are many opportunities to succeed in the insurance business, and I still feel it is a great way to make a living. I also like that one can migrate within the field, so as years go by and you need some change, you can stay within the insurance industry, yet do something different. Also, keep in mind that once you gain the insurance skills, you will always have a trade, no matter where you might relocate. According to recent research, many currently in the insurance field are set to retire in the next 5 to 10 years, creating a "brain drain" in the industry. This will create advancment opportunities for those with the skills, desire, and passion.

Like "D" I am also getting "long in the tooth" in personal lines and small commerical. If I we to start over again, I might consider the finacial planning / Financial Adivisor route, rather than P&C.

Final advice: If you plan to stay in the field, find a mentor, or two. Also get involved in your trade Assoication (IIABA, PIA) you will make contacts that will benefit you for your entire career. Good luck.

[goldenarms123]

I have been in the industry for about a year now and I have come to find out that learning the business takes time. It's not something you can pick up in a week or a month or a few months so work hard and be patient. Being an independent agent representing many different carriers, you are expected to know all their different rules, regulations, products, discounts etc. It can seem overwhelming. What helped me was making a notebook of cheat sheets for every carrier. Most carriers have websites with their product guides and rules, I would print them out and put the important stuff in the notebook. Tabs in the notebook made it easy for me to find certain pieces of information. Everyone is different on how they retain information so do what works for you. I definitely recommend taking notes though. Much of the learning process is from hands on experiences too. Studying books, packets, forms etc. can only take you so far. Many question will be answered when dealing with actual people and actually situations. You have a long journey in front of you and I wish you all the best.

[JohnnyLaw]

Totally agree with D and the others, concentrate on commercial accounts. Also I would add this, get out on your own as a independent, fast track it. This will require a mentor. My regret is waiting till I was in my 40's.