State Farm Business Proposal - The Pros and Cons

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PostPosted: Fri Jan 09, 2009 2:35 am   Post subject: State Farm Business Proposal - The Pros and Cons  

Hi,



I am a successful businessman who has been focused on the wireless industry exclusively for past 13 years. Business has done well, but I am about to sell, and looking at opportunities in the insurance industry. I have been in contact with State Farm, and am currently going through the process of submitting my state farm business proposal to the next level. I am wondering if I can get some solid advice. I HAVE to be successful at whatever I do. The question is, how good would state farm be to me. Please advise.

MercedesMan
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PostPosted: Fri Jan 09, 2009 7:35 am   Post subject:   

First of, I think that you need to obtain license to become an insurance agent. There after you may deal with a business proposal being a state farm agent for the first time. Visit the state insurance department's site and check out the necessary requirements that an aspiring agent required to meet.



You may also have to take up the pre-licensing course to pass the licensing exam.


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boulevard traders
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PostPosted: Fri Jan 09, 2009 7:41 am   Post subject:   

Check out the following links Mercedes and you'll learn more about the insurance companies like- StateFarm. Also I believe that its difficult (if not always) to switch career at the late age. Why do you want to abandon your existing business and sail into a completely different arena?



http://www.ampminsure.org/insuranceagents/about3572.html

http://www.ampminsure.org/insuranceagents/about2542.html


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PostPosted: Sun Jan 11, 2009 5:15 pm   Post subject: becoming an agent  

I am in a similar situation. Looking at opportunity with SF - approved candidate and it all sounds good - what't the downside with them? Will it really be my own?


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Diane
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PostPosted: Mon Jan 12, 2009 11:33 am   Post subject:   

What I've heard about StateFarm is that they prefer to have captive agents over the independents. You can read this archived discussion for better apprehension of your situation..



ampminsure.org/insuranceagents/about3572.html


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anonymous 12
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PostPosted: Mon Jan 12, 2009 3:05 pm   Post subject:   

MercedesMan,



First of all, Welcome to this insurance community!



Quote:
Business has done well, but I am about to sell, and looking at opportunities in the insurance industry. I have been in contact with State Farm, and am currently going through the process with submission of business proposal to be the next step. I am wondering if I can get some solid advice.




Well, I certainly think you will get as much or more advice as you can handle.



State Farm is a very reputable company and has its share of the property and casualty market. It is a well recognized name, which is very important for the state farm business proposal.



I'm just not sure that I would advise anyone just starting out in the insurance business to begin with a captive company as an agency manager. That's just a lot of responsibility.



If I were you, I would talk with a couple of independent agents in your area, just to see how business is doing and inquire about the possibility of working for one of them. If you could arrange to market life and health insurance to an existing agency's customers, that's an excellent way to learn the insurance business from the ground up. The customers already know the agent and will be more open to talking with you about other insurance needs.



If you decide to stay with State Farm, that's a good decision and good luck.
InsuranceMaze
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PostPosted: Thu May 20, 2010 6:33 pm   Post subject: re  

The best thing would be to start your own company directly.

mike3050
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PostPosted: Wed Feb 23, 2011 9:04 pm   Post subject:   

hmmm, start your own? could be a bit tricky couldn't it? start up capital on an insurance company must be pretty steep?

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PostPosted: Sat Mar 19, 2011 3:57 pm   Post subject: Bluedehen Post  

Very Interesting Post! Thank You For Thi Information!


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PostPosted: Wed Mar 23, 2011 12:49 pm   Post subject: State Farm Proposal helps the agents  

State Farm Proposal helps the agents to create business plans when applying for a position as an agent.It has many standards for business plans

JohnsonSmith
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PostPosted: Fri Apr 15, 2011 3:32 pm   Post subject: Ab program Weight  

I find myself coming to your blog more and more often to the point where my visits are almost daily now!


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