Switching from captive to independent

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Posted: Thu Sep 11, 2008 2:41 pm Post subject: Switching from captive to independent

Hoping for some good advice from anyone who has made the switch from captive to independent. i.e. - Successes, failures, what to look out for, timeline, etc......Thanks.

sav99

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Joined: 11 Sep 2008
Posts: 2

2.01 Dollars($)

Posted: Mon Sep 22, 2008 8:23 pm Post subject:

Hi Sav Hope you'll get this response -- I am catching up here! I switched from Captive to Independent almost 2 years ago and am really glad I did. That said, it was tough. First of all I had a non solicit. Secondly I had to learn a different way of doing things (nothing huge, but everything is a little different as an indpendent). I was pleasantly surprised that some of my old clients looked me up and asked me to take care of them - I did not solicit. There are ways "around" non-solicit agreements but I decided to be moral about my contracts. The first year was rough. second year has been better. I am hoping that in year three I match the income I was making when I left captivity. I expect that I will and then it will be a decision that I don't regret at all. Any other questions? Can I expand on anything for you? Good luck! _________________ I am an insurance broker from Ontario licensed for all types of insurance. Please visit my site: www.canada-insurance-source.com

OntarioBroker

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Joined: 09 Jun 2008
Posts: 108

Location: Ontario, Canada
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Posted: Sat Oct 18, 2008 3:56 am Post subject:

I have made that switch twice. The first time I failed miserably. There were two reasons for this: 1. I went crazy signing up with every carrier that was out there. I should have chosen a few at a time and gotten comfortable with their products then gradually added others. 2. I put all of my eggs in one basket as far as marketing. I wrote plenty of policies but put way too much money into one marketing source that seemed to be doing well for me. When it stopped working I was left holding the bag. I went back captive with my tail between my legs but with some valuable lessons learned. When the time was right I went independent again and have done well ever since. _________________ http://newagentsolutions.ampminsure.org

beatuplunchbox

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Joined: 26 Apr 2008
Posts: 234

Location: NC
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Posted: Fri Oct 24, 2008 6:01 pm Post subject: Captive

Independent is the way to go. You can work with a number of carriers and nobody telling you what to do. I was captive last year and it was bad. Now being independent I can take on new offers anytime. I know help out a larger FMO with Final expense but I am independent at the same time. It is freedom.