kamile
Insurance Journal Fan

Joined: 29 Sep 2006
Posts: 2
Location: Chattanooga
Posted: Sat Jan 27, 2007 9:09 pm Post subject: Job offer at Nationwide

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I have been offered an associate agent opportunity at Nationwide. Any comments, negative or postive, will be appreciated. since I will be moving from an independent agent to a captive agent, what questions should I ask? What about the commission split?
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sanddog1
Insurance Journal Addict

Joined: 25 Mar 2006
Posts: 250
Location: California
Posted: Sun Jan 28, 2007 4:56 am Post subject:

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Wow I am not sure I understand your question. Let see you can’t go work for Nationwide Ins Co. as a agent. They do have and apprentice program but that takes several years and you have to work inside the company first, learn underwriting go school and then maybe sell. All out of your pocket for the sales side. So are going to work for and Allied Nationwide brokers and develop book. Commission split tells me your not working for Nationwide directly but a broker; in fact. So if I am wrong please correct and explain.

Quote:
I have been offered an associate agent opportunity at Nationwide. Any comments, negative or postive, will be appreciated. since I will be moving from an independent agent to a captive agent, what questions should I ask? What about the commission split?

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Your Farmers Agent
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Joined: 30 Jan 2007
Posts: 7

Posted: Tue Jan 30, 2007 12:53 am Post subject:

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Farmers would be a lot better choice.




InsAgentSF
Insurance Journal Addict

Joined: 16 Mar 2006
Posts: 221
Location: san francisco
Posted: Tue Jan 30, 2007 3:54 am Post subject:

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You gotta be kidding me Farmers Agent




Your Farmers Agent
Insurance Journal Fan

Joined: 30 Jan 2007
Posts: 7

Posted: Tue Jan 30, 2007 4:44 pm Post subject:

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You may not have much experience in this business so let me explain it to you. Farmers is hands down the best insurance company out there. Period.




JInman
Insurance Journal Fan

Joined: 06 Oct 2006
Posts: 7
Location: Houston, TX
Posted: Tue Jan 30, 2007 7:04 pm Post subject:

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edit




kevinraz
Insurance Journal Addict

Joined: 08 Mar 2004
Posts: 25

Posted: Tue Jan 30, 2007 7:14 pm Post subject: Nationwide vs. Farmers

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Your Farmers Agent, you must be a DM or have consumed a lot of the FIG kool aid. If you are a successful & happy FIG agent, congrats! There are not many of you out there who speak up much.

I'm a former Farmers agent myself, did about 4 years with them in the Midwest. I'll be honest and say that Farmers does have the best training program for agents new to the biz and I credit much of my success today from the things I learned at their training sessions.

Farmers, however, continues to have serious technology issues, has a fairly disgruntled agency force and has been steadily losing market share for the past 5+ years. Farmers also requires agents to sell more than just auto/home/umbrella/life by adding investments and other products. That's a lot for someone to do well when they most likely have a smaller office with just themselves or perhaps 2 people working for them.

Check out www.ufaa.com for more info but realize that many there are pessimists.

Kamile, no matter which way you go it will most likely be a learning experience. Try and find out as much as you can about training and then also how you can get out if it does not work out. Realize that any funds forwarded to you (stipends, advances, etc) will have to be paid back unless you meet each and every sales goal they set - usually a difficult task. I can tell you from my experience that we had over two dozen new agents join Farmers in my state in the late 1990's and only 2 are still with the company today.

Kamile, good luck!




simiinsuranceguy
Insurance Journal Enthusiast

Joined: 03 Apr 2006
Posts: 11

Posted: Tue Jan 30, 2007 10:21 pm Post subject:

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Whenever I have Farmers as my competition, I am overjoyed! I can beat Farmers with any of the 20+ companies that I have to choose from, no question! I agree that if you think Farmers is the best Company out there, you are definitely not in So Cal. and that your Kool Aid must be quite strong!




Your Farmers Agent
Insurance Journal Fan

Joined: 30 Jan 2007
Posts: 7

Posted: Tue Jan 30, 2007 11:09 pm Post subject:

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Sorry guy, but you will need more than 20 companies to beat Farmers.




Insurance101
Insurance Journal Fan

Joined: 18 Apr 2005
Posts: 6

Posted: Tue Jan 30, 2007 11:23 pm Post subject:

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Going in as a Nationwide Associate Agent usually means you will be working as a sub-agent of an existing Nationwide captive agent. Is that the offer you have? Are you going to be the contracted agent for Nationwide or will you be contracted by an existing agent to produce business for him/her. If so, what ownership opportunities do you have down the road, if any? What products does Nationwide competitively offer in your area (home, auto, commercial, etc...). You need to figure out what your long term goals are. Becoming an Associate Agent for an existing Nationwide Agent may or may not be the career path you are looking for. You need to compare your goals versus what you are being offered as a Nationwide Associate Agent and see if you can reach your goals going in that direction.

Best of Luck




simiinsuranceguy
Insurance Journal Enthusiast

Joined: 03 Apr 2006
Posts: 11

Posted: Wed Jan 31, 2007 1:59 am Post subject:

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I guess that you have been "Farmerized" to the point that you don't read what is written. I wrote that I have 20 Companies that beat Farmers EVERY TIME! You are just not competitive in my area, and I think that that is just great!




Your Farmers Agent
Insurance Journal Fan

Joined: 30 Jan 2007
Posts: 7

Posted: Wed Jan 31, 2007 2:10 am Post subject:

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I am in South Orange County and Farmers Has the best products available here. We may not always be the cheapest but with Farmers quality price is not an issue.




InsAgentSF
Insurance Journal Addict

Joined: 16 Mar 2006
Posts: 221
Location: san francisco
Posted: Wed Jan 31, 2007 9:48 am Post subject:

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What "Farmers Quality"? What does Farmers offer that other companies doesn't? Better Forms? Better prices? Knowledgeable Agents? Most Farmers Agents i have spoken to had no idea about coverages




LadyBroker
Insurance Journal Addict

Joined: 14 Oct 2006
Posts: 56
Location: Southern California
Posted: Wed Jan 31, 2007 5:40 pm Post subject: Farmers agents

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As a wholesaler, I work with alot of Farmers agents, and find they run the gamut from very professional and knowledgeble, down to the completely clueless and dangerous.....but you can say that about every carrier's Agency force. As a whole, I think Farmers puts out a pretty good product.
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gregcw
Insurance Journal Enthusiast

Joined: 24 Jun 2005
Posts: 12

Posted: Wed Jan 31, 2007 8:56 pm Post subject: Farmers Agents

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I am an ex-Farmers agent. In general, Farmers does have a good priduct. I would not, however call it the best. There are a lot of things that they can't offer. As an Insurance Company they are not bad for underwtriting or service. The down-side is that you have to work with their "SALES DEPARTMENT".

My District MANGLER gave me NO good support a lot of mis-information and a lot of WRONG and DANGEROUS product information. They also tend to throw agents up against the wall like dirt to see how many of them stick. The Divisional Agency, Divisional Sales and Regional Sales managers also LIED about a number of things when I was apopointed. Looking in from the outside, this does not sem to have changed. The sales department people are all trying to climb the PROMOTION ladder to see how high they can climb and don't care who they step on or lie to to get as high as they can.

When I was hired in 1982, one agent had announced her intention to retire in a 'few' years. The district MANGLER hird four agents to replace her. Of those four, I am the only one still in the industry. One of the agents left town in the dark of night, one made it for three years, the companies and I 'agreed to disagree' after seven years and the fourth agent made it for about nine years before taking up drinking full time.

Since that time (1982) they have hired over 40 agents to maintain the four agencies they had in this marketing area. They recently had an agent retire and they hired three to replace him. We'll see how many of those stick.

I am not working for Farmers now but am independent and working on both sides of Farmers. They were purchased from BATUS (British American Tobacco U.S. - R J Reynolds), who bought them in 1986, then by Zurich about five years ago and they, Farmers, purchased Foremost as a wholly owned subsidiary, about three years ago. I am appointed with both Zurich and Foremost and have been for years.

If you are thinking about becoming captive I would recommend State Farm if you can find an area that they are willing to appoint a scratch agency. Country Companies and American Family have had difficulty making agents stick (successful) in this area but that may not be true everywhere. They do appear to have a good product.

GregCW, CIC

Insurance101
Insurance Journal Fan

Joined: 18 Apr 2005
Posts: 6

Posted: Mon Feb 05, 2007 9:27 pm Post subject:

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Amazing how someone asked for advice on joining Nationwide and others have turned this into a forum for and against Farmers.




sanddog1
Insurance Journal Addict

Joined: 25 Mar 2006
Posts: 250
Location: California
Posted: Tue Feb 06, 2007 12:19 am Post subject:

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That because some Jackass from farmers said; that farmers is a better choice then NationWide-Allied Ins. Then this post happen.. And the funny thing is, it’s his first post. SO i'm thinking our Friend Scott as something to do with this discussion as he's a farmers agent. I will not elaborate on this topic any more. farmers is the lowest of carriers in CA. Don’t know about Main
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etimer
Insurance Journal Addict

Joined: 11 Feb 2005
Posts: 70

Posted: Tue Feb 06, 2007 1:00 am Post subject:

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I thought Scott was a consultant? Now I'm confused

sanddog1 wrote:
That because some Jackass from farmers said; that farmers is a better choice then NationWide-Allied Ins. Then this post happen.. And the funny thing is, it’s his first post. SO i'm thinking our Friend Scott as something to do with this discussion as he's a farmers agent. I will not elaborate on this topic any more. farmers is the lowest of carriers in CA. Don’t know about Main





sanddog1
Insurance Journal Addict

Joined: 25 Mar 2006
Posts: 250
Location: California
Posted: Tue Feb 06, 2007 4:55 am Post subject:

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etimer, what is an consultant? Let see someone who consults for an exposure to insurable risk. They claim to work for other then commission. Scott, claims to be just that, a consultant from the great State Maine. And he's all over the DOI as an farmers agent. If your in Sales do your homework or else.......
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etimer
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Joined: 11 Feb 2005
Posts: 70

Posted: Tue Feb 06, 2007 1:39 pm Post subject:

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So is it commission agent or fee earning consultant?

sanddog1 wrote:
etimer, what is an consultant? Let see someone who consults for an exposure to insurable risk. They claim to work for other then commission. Scott, claims to be just that, a consultant from the great State Maine. And he's all over the DOI as an farmers agent. If your in Sales do your homework or else.......





scott
Insurance Journal Addict

Joined: 23 Sep 2005
Posts: 81
Location: Maine
Posted: Tue Feb 06, 2007 3:22 pm Post subject:

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I certainly don't mean to be confusing. I'm one of the few on this forum who is 100% open with my identity, history, approach, etc. My websites are filled with information about my practice and me. And yet, there is still this mystery?

I sold insurance for 20 years. I was licensed with probably 50 different insurers in that time. Best I can tell, when Farmers bought Formost (or some other insurer), the agency licensed me with Farmers. I don't ever recall selling a Farmers policy. Again, not sure why this is important. Must be though as it comes up almost every time I post here.

Seven years ago I left the agency world and started my consulting firm. I have not sold a policy since.

I now consult for insurance buyers, helping them buy and manage insurance. quite similar to what a Risk Manager does for a Fortune 1000 company - my work is on a contract basis for smaller companies. My average client is a bank, nonprofit, hotel chain, manufacturer, etc. Its mid market - $200,000 to $2,000,000 in premiums.

I don't sell insurance, I don't accept commissions, fees, or gifts from the agents and companies I work with for insurance buyers. The insurance buyer pays my fee. My clients are primarily in New England, though I have some outside. About 1/2 my business is reviewing coverage, the rest is general insurance management, claims issues, risk management, and bid management.

About a year after I started the consulting practice I started getting calls from people wanting to start their own consulting practice. I turned that into a mentoring program. I also work with agents (outside of New England) who are trying to build their business.

A new service I've started is an "Key Account Review for Agents" - You pick your agency's top accounts (biggest, most prestigious, most difficult, most vulnerable) and I look for trouble. I make suggestions on improving the coverage, account service, loss control, and claims management - better me than a competitor. As with my agent mentoring, I only do this outside of New England to avoid any conflict of interest with my insurance buyer clients.

I believe that I have the best job in the insurance industry. I can help buyers, agents, and other consultants hard market or soft. I work for myself, setting my own hours, working out of my home office. I have no employees so avoid the hassles of same. I have great clients who value my help - and pay me for that value.

Several of you have called and emailed me privately. I've enjoyed the conversations.
_________________
Scott Simmonds, CPCU, ARM
Insurance Consultants of Maine, Inc.
Consulting Site http://www.ScottSimmonds.com/
Mentoring For Consultants & Agents http://www.icmentor.com/




jtabosida
Insurance Journal Enthusiast

Joined: 09 May 2005
Posts: 18

Posted: Tue Feb 06, 2007 7:20 pm Post subject: Work for a Brokerage

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Forget being captive! The more companies you have to offer the better chances of getting business and retaining it. If you only have one carrier to povide and someone doesn't fit into the parameters, guess what, good bye client!




etimer
Insurance Journal Addict

Joined: 11 Feb 2005
Posts: 70

Posted: Tue Feb 06, 2007 9:17 pm Post subject: Re: Work for a Brokerage

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I've always wonder why or how anyone can make it being captive?

Maybe the way they do it is what I am currently looking at:
A policy; for a retail store (leasing); current insurance from a captive company; has no fire legal liability but has a very low premium. Is it that they sell that low premium and hope nobody notices the gaps?

jtabosida wrote:
Forget being captive! The more companies you have to offer the better chances of getting business and retaining it. If you only have one carrier to povide and someone doesn't fit into the parameters, guess what, good bye client!





Porter
Insurance Journal Addict

Joined: 15 Mar 2006
Posts: 115
Location: California
Posted: Wed Feb 07, 2007 1:29 am Post subject:

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When you are a captive agent you can never sell price because you will rarely be competitive. You have to market by referrals such as escrow, mortgage, property management companies. Also, if someone is shopping your rates you have to scare the client into thinking if they go somewhere else the companies wont pay their claims. I am not a captive agent I am an independent agent. These are some of the tactics I have seen them use. They do a good job at it for the most part. Example: State Farm has got to have the most expensive home insurance policy in my area and they only provide 120% replacement cost. Most companies provide 150% replacement cost and are a lot more competitive. However, more people are insured with State Farm here than any other company.
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