Introduction: Jim Carl is SVP at Brown & Brown Insurance. Jim’s background was unorthodox when CIB placed him with Brown & Brown in 2013; he had been a bail bond agent working for a family business. Jim was Rookie of the Year and has been a perennial Brown & Brown President’s Circle member and Tangle… Continue Reading
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Roadmap to Become a Producer
A food service sales rep asked for advice on becoming a commercial insurance broker (producer). My advice is to follow this 3-step plan. (It pains me to admit this, but you don’t even need a recruiting firm to get into this great career — though we sure can be helpful.) Here’s the 3-step plan to… Continue Reading
3 Big Takeaways on Producer Pay
Our CompPlanner2020 model shows a potential commercial insurance broker (producer) how the money works. 3 takeaways for B2B sales people exploring the commercial producer career: If you can produce, you want a compensation model like this…uncapped commissions, big-time residual commissions on client renewals, and a linear relationship between your clientele size and your W-2 income…. Continue Reading
Show ’em How The Money Works
We updated our CIB CompPlanner spreadsheet model. CompPlanner2020. It shows a potential commercial insurance broker (producer) how the money works. Here’s a screenshot: CompPlanner2020 illustrates these truths about the commercial insurance broker career: “Learn the profession. Build your clientele. Get rich slowly-but-surely from the residual commissions.” “There are no rich young producers. But there are… Continue Reading
Scary Producer Numbers
Read Reagan Consulting’s 2017 Best Practices Study: Reagan Consulting Best Practices Two scary producer numbers — 50 and 1 — jump out. They reveal commercial insurance broking’s epic failure to replenish its sales force. The 2 numbers underline these 2 big findings about agent/brokers: Finding #1: The insurance broker industry continues to age. WAPA (Weighted… Continue Reading