I have online marketing skills and have sold med supp in the past so I know the companies offer a lot of supprt. I’m wondering if it’s worth bringing my marketing skills and new license to an agency and learning the ropes there, or just going out on my own.
Also, what are profitable and less addressed niches? I’m in Massachusetts and will likely end up in California in a few years.
Thanks
Categorized | Affiliate Marketing 101
Should I Learn P&c Insurance Business By Working In An Agency, Or Just Get License And Start Selling Myself?
Posted on August 5, 2011.
95% of new agents wash out. You’re much, much better getting a job in an agency and learning about how the industry works, than trying to start a business with limited knowledge and experience about how it functions.
Definitely go with an agency where you can get real world experience. The P & C business can be quite complex. The training you got to get your P & C license barely scratches the surface of the knowledge you will need to give your clients confidence in your knowledge of the business. A thorough knowledge of the business is what turns prospects into clients.
The other factor that is significant is market access. Find an agency that has excellent companies to represent. P & C company appointments are much more difficult to secure than the life and health business. Going it alone you will quickly find out that the major carriers will not appoint a brand new agent who has no book of business. On your own you will be stuck with one or two companies.
Knowledge and competitive markets will be the keys to your success (or lack thereof).
Good luck.
Go the agency route for sure.
Med Supp, life and other products are very different from the p&c industry.
You will probably need to get a p&c license anyway to work in an agency, unless you only work as an inside CSR and do not discuss coverage with the outside world.
The fact that you are asking tells me you need to start working in a brokerage/agency before starting out on your own. You clearly have no clue how complex selling property and casualty insurance is if you think you can just get a license and start going at it on your own.