Learning how to market on the net is a huge part of how much you will make now. With so many prospects shopping on the net you have to learn to make yourself visible on the net, or find a service to help you.
Would you say a captive agent or an independent agent would make more their first year?
I am a new captive agent and I am curious what the average agent makes their first year.
Posted: Sun Oct 19, 2008 10:14 pm Post subject: InsInvestigator comments
It is not clear to me what InsInvestigator actually does? Is he/she an agent or a Lawyer?
A Lawyer that prosecutes agents and also sells policies??? Sounds like a lot of bs to me.
I don't know if you make more than me or not? I also don't care. Sounds like a bs agent.LOL _________________ Register Now to have your Insurance queries solved.
lisa - need to know more about your situation. Did you start out with zero policies on your books or did you buy a book a business? What is your commission schedule? Since you are new, did they give you a bump on your commission for the first year? _________________ Life moves pretty fast. If you don't stop and look around once in a while, you could miss it. - Ferris Bueller
It is not clear to me what InsInvestigator actually does?
Insurance investigators butt-in during a claim process when the insurance company suspects fraud. The insurance investigators are neither agents nor lawyers and as the name suggests they prove into the claim to dig out the truths about it.
The profile of the insurance investigators has gained prominence with the increase in the number of fraudulent claims that the insurance companies are receiving everyday. The insurance investigators stop the dishonest claimants to cheat the insurance company.
Jeremy, I think that the insurance investigators also play an important role in regulating the insurance costs. Let me explain my stand…
The business of insurance runs on people living in the same risk bracket sharing the cost of risks within. This is what determines the cost of premium. Now if the insurance companies spend their money in fraudulent claims that will also increase the cost of the coverage for all the individuals participating in the coverage program. Insurance investigators, thus, by investigating into the frauds are saving the insurance companies from losing money on bad businesses and also saving the society from paying more for less.
A life and heath insurance agent is likely to make more as commission than the P&C agent provided both of them have written same amount of business. And in addition to the questions put forward by life the earning of agent will depend largely upon his/her abilities to sniff business as well.
If you go out and are able to get agents to work for you then you can make a ton. If you can get a contract in the 100% range you can put agents under you for 80% or 90% and make a override everytime they sell something. That way you can have 10 guys selling and yourself.
I have been in insurance for only 6 months now and I only sell P&C. The BEST way to get business is to educate everyone on what an AGENCY is compared to a COMPANY. I would say 75% of people dont know the differnce. If you advertise that you have 10-15 differnt companies you go through for the cheapest rate... they will call you back about 80% of the time and buy your product about 75% of the time.
You can always be a dick and do an AOR (Agent of record). If you have that same company the person is currently with and you cannot find a cheaper rate, you can ask them if they would like YOU to be their agent, instead of the other one. All you would have to do is sell your personality and let them gain confidence in you.
Try getting a license in P&C and Life/health. Start building your book and get other Agents to like you, a lot! Eventually talk to them about buying their book of business when they retire.
Once you make enough money you should hire someone to quote everything for you and sell it. You should have a CSR where you are now so you dont have to do to much work after you sell it, so you can focus on the big picture... MORE MONEY!
only 6 months in= $265,000+
And thats not including the books of business I bought (an extra $320,000+) _________________ Register Now to have your Insurance queries solved.
Is that 265K premium dollars or gross paychecks you write yourself? _________________ Life moves pretty fast. If you don't stop and look around once in a while, you could miss it. - Ferris Bueller
MEPower,
I was an agent with MetLife for a little more than 4 years. When I uncovered around 400 churning cases, I objected to my supervisors, who told me to look the other way. Instead of doing as I was told, I sent the cases directly to the CA Dept of Ins. I was then terminated by MetLife for "my inability to follow simple instructions." When my wrongful termination case settled, that was changed to "left of his own free will."
A short time later, I found myself with the CA DOI for almost 3 years. I left after I testified against our glorious insurance commissioner (who was terminated).
Afterwards, I moved down the street to the office of the Attorney General. I was encouraged to do so because the backlog of cases was so large, the statutes of limitations were running out before the cases could even be opened.
The whole time I worked with the State, I did not have an active insurance license (this is not allowed).
After the Governator took office, he eliminated certain positions in order to "trim the State's budget." My position was one of those he did away with. My license was reinstated and I moved to the private sector as a PI specializing in Life Insurance Fraud. I've qualified to work under CA section PC833 and have carried a weapon while working.
In the past 15 years, I have built a huge network of lawyers, legislators, and regulatory agency personnel. I have qualified as an Expert in many cases and am allowed to write an occasional policy as long as I stay well clear of any potential conflict of interest. I have been on the seminar circuit for a number of years and have either consulted for or appeared on every major news network.
As for the money, some years are better than others. I've made MDRT 6 times (2 before going with the State and 4 after going back on my own)
Because my business is somewhat unique, I am often exposed to sales opportunities most agents don't have access to. I even have lawyers and regulatory agencies referring business to me. That doesn't necessarily make me a better agent than you or anyone else, I've just gone in a slightly different direction. In fact, I only write 5 or 6 policies each year but, so far in my insurance career, I've written two policies with annual premiums in excess of $2 million.
I have a great team of superstar agents who help me out and I steer all the business that others might deem questionable to them.
If you'll email me, I'd be happy to send you a copy of my CV.
Now you know,
Mark _________________ Please feel free to go to my website at www.markcolbert.com or, if you have a specific question, you can email me directly. I hope I can answer any questions you might have. If not, I can certainly find an answer right away.
In fact, I only write 5 or 6 policies each year but, so far in my insurance career, I've written two policies with annual premiums in excess of $2 million
ok, sorry I've just got to ask what on earth type/kind of policy has a 2mil. a year premium? _________________ Have you been helped by a poster? Do you want to show your appreciation? YOU CAN !! Just simply click on the donate button and send them some coin!
Hi Lori,
The first was a $35m policy on a 74 year old woman in NY whose husband once employed Donald Trump. This story is on the front page of my website. After winning the case, her lawyer (who was also her son) suggested she do business with me. The Interest Sensitive Whole Life policy was for estate purposes.
The second was a $28m policy for a 61 year old man down in Carslbad, CA. He was one of the small group that started a company called BFI (also known as Allied Waste Industries, inc.) He bought a large Mass Mutual policy from a supposed estate planning guru who promised him that his premium would vanish in 3 - 5 years. Well, 7 years later, the premium had not only NOT vanished but actually needed to be increased. After the case settled, I re-wrote a type of UL blend policy with AmerUs (now Aviva). _________________ Please feel free to go to my website at www.markcolbert.com or, if you have a specific question, you can email me directly. I hope I can answer any questions you might have. If not, I can certainly find an answer right away.
