There are a lot of reasons to get into the commercial insurance broking business. When you’re talking up the commercial insurance broker career with a potential new producer, share this list and challenge ’em to find a career that beats this one!
- Uncapped, Bigly (and Big League) Six-Figure Income Potential. Your earnings can accelerate to $250K+ as you build a clientele (“book of business“) and your loyal customers renew business with you annually.
- Consultative, Trusted Advisor Business-to-Business (B2B) Sales. Your clients will be CEOs, CFOs, and business owners in a variety of industries, and you will consult with them to understand their business and risk management needs, then propose solutions. You will become a respected, trusted client advisor, as essential as their lawyer and accountant, providing an important, big-ticket service and invaluable consulting advice. If you want to sell something really important to really important people — this is it.
- Residual Commissions from Repeat Sales. Commercial insurance renews every 12 months, and your income rises as you earn significant residual commissions when your clients renew with you. Residuals drive huge income upside!
- Relationship Sales. You will enjoy the long-term satisfaction and repeat business (did I mention that commercial insurance renews every year?!) that comes from developing strong ongoing relationships with your clients. After a few years of cold prospecting, you will find most of your clients through networking and referrals.
- Stable Industry. The insurance business is more resistant than most to normal economic cycles, since businesses always need insurance to cover their exposures and risks. Insurance demand will remain rock solid.
- A Satisfying and Rewarding Long-Term Career. You will be learning a profession, gaining knowledge and skills that will not just provide a handsome income and satisfying work,but that will place you in demand – as a top producer, you will never be without work. This is truly a lifetime professional B2B sales career!
- Business Insurance Sales is Totally Different from Other Insurance Sales! Your prospects and clients are business people, CEOs and business owners who must have insurance and need your advice, and you are a consultant to them as you analyze their needs and propose solutions. You will not peddle personal insurance or life insurance and annuities to individuals (unless you want to, of course).
- Great Work Culture. You will be an employee of a professional firm in a local, privately owned, entrepreneurial organization,without the bureaucracy, politics, and hassles of large corporations.
- Build Your Own Business – Inside a Business. You will create your own customized business plan to build your book of business. You decide the types of businesses and people that you want as your clients. You get to do the best part of having your own business — client development — without a financial investment or management headaches since all of the support structure is already built for you.
- Limited Overnight Business Travel. Commercial insurance broking let’s you build your career where you live and work; you can be home at night ~95% of the time.
If you’re interested in getting into the commercial insurance broking career path, contact The CIB Group today.