independent health insurance when I started selling insurance in 28 years ago, I was recruited by a company offering contracts for sale of captives. I did not know there were separate contracts not to mention the advantages and disadvantages between them. I spent the first 9 years of my career in sales, recruitment and training in the context of a contract in captivity. I sold, I recruited and trained agents in the past 18 years under contracts separate sales.
One of the main concerns that have lived in the time working under a contract with a captive was not having enough product choice. There were several periods of time that some products offered are simply not competitive in the market.
independent health insurance, this severely limited our ability to provide solutions to many potential customers. I have found over the years that most of the prisoners were produced generally two or three in competition at the time. They usually focus on one or two niche markets. This limits their ability to cross when we do not have the right to sell other contracts. independent health insurance as an independent agent, you are free to contract with different companies. This can be a problem, but because the contract with many companies insurance companies at once begin to lose focus. There are times, however, when you may want to change markets or add another company that has a very competitive product. Must be an independent agent to do so.
independent health insurance, the other major concern was working under contract in captivity is that I do not block my business. Another expression of ownership of your business unit "have the right to buy your block of business." The company I worked 15 years before if you were 100% of the activity of man to acquire shares on the block!
independent health insurance, When I left after 9 years, only 40% was acquired. That means I did not have 60% of my refills on my contracts in force when I left and became a free agent. Again, do not know, and I did not say that there were other opportunities to sell insurance and have rights to acquire 100% of all sales from the first day! I learned the hard way. This is also why it took me so long to find the courage to make the trip because he knew he would lose a large part of my income for renewal. There are many agents who work for independent agencies that sell several companies that offer no right of acquisition. Therefore, when the agent leaves the agency continues to receive all renewals of society. This can not be all bad depending on other media and services that the Agency may offer the agent.
Overall, another difference you will notice is that the schedules of independent agents commissions are generally higher, while the captive insurance agents. For example, when I sold as a captive agent won 20% of our insurance products and 55% commission fee of 65% of our life insurance products. When I got to the contracts of independent agents began to gain a 25% commission on my sales commission health insurance and 90% to 100% of my life insurance sales.
Traditionally one of the advantages with Captive was offered more training and support for a newcomer to the business agent. But today, there are many great MGA, NMO, IMO and FMO Agencies that provide all the training and support they offer traditional captives. In addition, you still get high commission contracts, vest immediately, several business portfolios, support systems, lead, etc.
independent health insurance, so once again, we hope that this information has been helpful to you. My not need to learn some things the hard way, I had early in my career. Not having first hand knowledge of the pros and cons with separate captivity which cost me a lot of time and money contracts. A career in insurance sales can be very rewarding and your journey to success can be much faster if you are starting from a point of knowledge!
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