When you have been involved in the Insurance game as long as I have you come across some pretty disturbing practices done by a few (not many) of the companies that represent insurance products.
This is not to say that everyone is out to take advantage of someone. Far from it. I think the reason a lot of abuse happens to agents is that companies and managers fail to understand the person they have just contracted to work for them.
Consider the following “lies” told to agents;
1) “You are an important part of this company”- If that were true then the focus would be on protecting what is important to your business. Consider a restaurant; it has to serve customers good food or it will go out of business. So a smart restaurant considers its customers to be the gold of the company. No customers, no sales, no business. Yet in insurance agents are no more than cattle. The focus for so many companies is to recruit, recruit, recruit. And once an agent joins on they are then left to fend for themselves. Some companies even penalize the managers if they fail to recruit a certain number of new people each month.
2) “If you follow our proven plan you will become successful”- I have yet to work for a company who did not swear by their training program. But here is the problem: most companies are plagued by high agent turnover. If the program was so great why can’t more agents make it work? Because the programs new agents are taught is not the same programs top producers go by. Cold calling, knocking on doors, selling all of your friends and families is archaic at best. Yet new agents are brainwashed into thinking this is how to go. Do that and you will starve.
3) ” You can make as much money as our top producers”- Yes you can but you probably won’t. Why? Because in order to be successful you have to emulate success and no one tells a new agent how a successful agents really makes his money. Does he run the same 2 year old leads you do? Does he set all his appointments on his own or does he have some help? I am not knocking a top producer; you pay the cost to be the boss. But new agents have no chance.
Remember, success is able to be imitated. So unless you can imitate success, you are destined for failure.