Nationwide announces plans to shift to independent agent model
Wise decision to move from Captive to Independent agents.
Captive Agents offer only ONE insurance company’s products.
ONE-trick ponies.
Prisoners of one insurance company.
Independent Agents offer MANY insurance companies’ products.
MANY choices for customers = better.
Not imprisoned by a single insurance company.
We sometimes find people considering the Captive Agent career.
We tell these folks: nothing wrong with being a Captive Agent.
State Farm, Allstate, and Farmers offer decent platforms.
If you hang up a State Farm sign and work hard, you will make a nice living in most towns in America.
But beware the downsides of the Captive Agent model.
You will be at the mercy of one insurance company’s rules.
Captive can become a career prison.
Forever selling home, auto, and life insurance.
Nothing wrong with that either but it gets boring fast.
And it’s more price-sensitive and commoditized.
And it’s not as fun, challenging, and lucrative as business insurance.
You can’t sell much business insurance as a Captive Agent.
A better career path?
Become an Independent Agent.
Trusted Choice explains the Independent Agent advantage quite well.
(We know great commercial insurance agent/brokers if you want to get in this career.)
