I have my P&c license I have been in the insurance busi

Submitted by zcooper3 on Mon, 09/01/2008 - 04:32

ten years experience seeking to open own business may a allstate or nationwide? any advice

Posted: 01 Sep 2008 12:12 Post Subject:

I would suggest interviewing with both companies and see which one better fits with you.
I have heard good things about Nationwide. Not sure about Allstate.

Posted: 02 Sep 2008 05:36 Post Subject:

I agree with lisar's suggestion, you need to interview with both the companies to know what they have to offer you.

Setting up an independent agency does involve some amount of costs. You are required to maintain an office and employees, depending upon the size of the business. And all these costs need to be met by the revenue generated through sales. The company, however, will not share the expenses for running the agency.

Moreover, you are also required to meet the sales target to continue with the agency status. Though some companies offer qualified leads to their agents, but most of the time the agent is required to generate his own business opportunities.

~Jeremy

Posted: 02 Sep 2008 06:11 Post Subject:

Well, when you are in the business for ten years, you may have gathered a good deal of experience in this industry. This will surely help you to begin as an independent agent.

As far I know, both Allstate and StateFarm prefer captive agents over the independent agents. And also prefer to sell independent agencies to their once captive agents. However, both of these companies are giants in the insurance market and have loads of successful agents operating under their banners.

Thanks,
Rupert

Posted: 11 Sep 2008 05:26 Post Subject:

I would consider going being an independent agent. However, I know that it is difficult to get started as an independent as a P&C broker.

I have a small agency that sells individual health. I don't have to deal with minimum quota requirements that the Property and Casualty agents have to deal with, so maybe being a captive agent is the best way to go for you.

Both companies have good reputations as far as I know.

Posted: 22 Sep 2008 10:15 Post Subject:

I can't speak from experience about either company. But you should do as much research as you can - including interviewing with other companies. And ask to speak with other local agents from those companies.

Posted: 25 Sep 2008 10:28 Post Subject:

Are you sure that you want to concentrate on just P&C? I sell P&C, but it would be a rough go without some other higher revenue products.

Posted: 25 Sep 2008 01:45 Post Subject:

If you want to come to Allstate, you will need your Life and Health license also. Then you have two years to obtain your Securities (6 & 63) license.

All four tests - piece of cake. No worries.

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