Solid Insurance Companies To Work For

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Oct 21, 2009 11:54 am

Who are the top insurance companies to work for?

Oct 21, 2009 2:18 pm

It really depends on the Agency you go to work for and the products you want to sell but any of the large mutuals are worth a look:

 
- New York Life
- Northwestern Mutual
- Mass Mutual
- Nationwide
- Mutual of Omaha
- Guardian
 
I've heard good things about Met and Prudential as well
 
I also wouldn't rule out some of the P&C focused financial services firms like Allstate and State Farm if you want to focus on insurance with investments as secondary to your business.
 
 
At some of these companies you will be an employee, at others you will be a 1099 contractor.
Oct 21, 2009 6:08 pm

Thanks for that.

Oct 22, 2009 10:43 am

BB, why are Nationwide and Mutual of Omaha included in your list?  I'm questioning and not arguing.

Oct 22, 2009 10:48 am

By definition, if you work for the insurance company, you will be an employee.  Most of them have independent B/D's, so for investment business, you will be an independent contractor and not an employee.

Oct 22, 2009 3:50 pm
anonymous:

BB, why are Nationwide and Mutual of Omaha included in your list?  I'm questioning and not arguing.



 
They run pretty strong in my area.  I see quite a few policies of both companies and a lot of IRAs from Nationwide.  I think it depends on what part of the country you live in.  In the upper-midwest I don't see a lot of the New York Life / Guardian / Allstate / Mass Mutual stuff.  I see the most NML by far followed closely by Thrivent.  I see a lot of State Farm / Mutual of Omaha / Farmer's / Axa policies.
 
I'd say that for a newbie at an insurance company it's more adventageous to work in a place with name recognition and decent market saturation than not because you will not get a book (unless it's a P&C focused shop like State Farm) however you will have access to lots of orphans and have a well-known name when you call other prospects and referrals.
Oct 25, 2009 1:41 pm

I've always wondered how much car and homeowner's insurance pays...

Nov 9, 2009 10:17 am

Hi
This is upto the company whether they need it or not. And also it's quite impossible to know the company stucture.

But still some company follows the software.
personal finance  credit help  debt help

Nov 9, 2009 1:38 pm
ChrisVarick:

I've always wondered how much car and homeowner's insurance pays...


From what I've seen, once someone starts sell car and homeowner's insurance, they end up being primarily P&C agents.  Sorry about the non-answer to your question.
Nov 9, 2009 1:45 pm

I've always wondered how much car and homeowner's insurance pays...



10% to 15%, usually level year after year as long as the policy stays on the books.  $600 auto policy, $600 home owners policy, at 10%, that's $120 before expenses.  P&C is much more service intensive, so you need more support staff.  It is definetly a volume game and all about renewals.
Nov 10, 2009 10:31 am

Evidently we can broker P&C at my Ins Company.  I think they used ti up until the early90s as a way to get into see farmers and small business owners and push our DI, BOE, Life, and what used to be our proprietary mutual funds.  I don't know anyone who sells it anymore but I'm guessing some of the old-timers do.  Here's what it looks like:


 
Private passanger auto, recreational vehicles, homeowners, tenants, condo, watercraft, utility, flood:  12% FYC /  8% Renewal
 
Earthquake, dwelling, umbrella:  10% FYC / 6% Renewal
 

I'm sure it's higher at a P&C focused company like Farmers, Allstate or State Farm.
Nov 14, 2009 2:16 pm

The firm that will spend the most money on you would probably be the best one to consider as they are vesting their money on your success.

Nov 14, 2009 4:59 pm
Gaddock:

The firm that will spend the most money on you would probably be the best one to consider as they are vesting their money on your success.

 
Wow. Great thought.