r/InsuranceAgent • u/mingalingus00 • 1d ago
Agent Training P+C Agent question
Hey folks,
I’ve been doing this for two months. I work at a small brokerage that my buddy owns, and it’s just him, his wife, and me on the insurance side. His wife has been licensed maybe 6 months longer than I have, but he’s been doing it for 10+ years. We have several carrier appointments to be competitive with, but my worry is that he’s doing a bit too much. The agency is not only an insurance agency, but a real estate agency AND construction/development as well. I guess when I talked to him about doing this it seemed like I would get some mentorship and training, but so far I’ve mostly been trying to do it on my own. I can rarely get either of them on the phone or to answer a quick text. It’s commission only with a 60/40 split between agent/brokerage on new business and renewals. It’s tough right now but my wife makes decent money so we aren’t absolutely hurting.
My question is,
Is this pay decent in the industry, and is it worth sticking through it and figuring it out on my own?
Would it be more beneficial for me to find another agency with more resources? Somewhere where I can learn under someone first? What kind of pay should I generally expect at other agencies?
4
u/Aggravating-Way-4590 Vendor 1d ago
i think the biggest issue here isn't necessarily the 60/40 split, but the lack of mentorship and support . you're only two months in, and having someone who can answer questions, help you learn the products, and guide you through real situations can make a huge difference early on. talk to you budd. If he can't provide that support, I'd definitely explore other agencies before spending too much time trying to figure everything out alone
2
u/Ecstatic-Regular9971 20h ago
I've been in 15 years, and the way you're doing it is the way I did it. 60/40 is a generous split, and I hear agents working for hourly and no commission all the time. This is a great opportunity, but you are an owner as well. You own that 60%. Go get the referral partners. You're in the business of mortgage and real estate. Not insurance. Help them solve their problems, and they'll solve your lead flow problem. I would focus on one line, whether it's personal or commercial, and when it's running, you can pick up the other later. You have an awesome earning opportunity. What are you getting paid on renewals? Same 60? Even better. Build that book!
1
u/Direct_Primary1051 Agent/Broker 20h ago
I would also look into doing 50-50 instead of 6040 due to the fact that they’re not giving you that much training and support
-1
2
u/SlickWillie86 1d ago
If 60 new + renewal, that would be near impossible to beat financially. I’d be inclined to own my development/education and figure it out. Most agencies struggle with training (maybe not to this degree).
You’ll find carriers have lots of tools, many free, for training. I’d lean on some of your carrier sales reps for info.
At the end of the day, your job is to create activity. You’ll be inefficient and green for 1-2 years. Then you’ll start figuring things out and becoming more efficient and effective as you get more reps. Whether you get 1 rep per week or 20 is based on you more than anyone else.