Do you want to learn more about starting a career selling insurance with the Consolidated Insurance Agency?
If you are trying to decide if working with the Consolidated Insurance Agency as an insurance sales agent is a good idea, you’ve found the right article.
Let’s jump right in!
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About Consolidated Insurance
Consolidated Insurance + Risk Management was established in 1938 in Catonsville, Maryland, as I.P. Trail Insurance Agency.
In 1960, the company became known as The Doetzer-Trail Insurance Agency and in 1969, it merged with Richard Williams Insurance Agency to form Consolidated Insurance Center, Inc.
Since then, Consolidated Insurance has grown to become a leader in insuring businesses and individual customers in the Greater Mid-Atlantic region. The company is headquartered in Owings Mills, Maryland.
Insurance Products Sold
Consolidated Insurance provides a range of customized risk management solutions and comprehensive insurance plans for individuals and families such as:
- life insurance
- and several other types of insurance
Its plans for businesses include general liability, property, workers compensation, professional liability, Errors and Omissions, pollution/environmental liability, etc.
The agency works with several carriers including:
- Kemper P&C
- Hanover Insurance
- Encompass (Allstate)
- State Auto, Foremost Group (Farmers)
- Cincinnati Insurance
- Westfield Group
How Consolidated Insurance works
Consolidated Insurance has developed its own SWT broker process that helps agents understand business on the executive level, assess risks using proprietary assessments, and determine insurance placement options.
Consolidated Insurance Agency leads
Consolidated Insurance Agency doesn’t disclose how its insurance agents generate leads.
Most likely, if you are a new agent, you’ll have to start by cold calling for prospects or work with friends and family for sales opportunities.
If your sales are high, management may provide leads as compensation for your work.
Consolidated Insurance Agency commissions
Like most insurance companies, Consolidated Insurance Agency doesn’t publish its commissions for agents.
If you are a new agent, you will most likely have to start by cold calling for prospects or work with friends and family for referrals and sales opportunities.
If sales are high, management will usually provide leads as compensation for your work.
Is it a scam, MLM, or pyramid scheme?
Consolidated Insurance is not a scam, but a reputable agency with a long history. It has good financial standing and holds a superior A+ rating with BBB.
The company is a top-tier agent of FCCI Insurance Group, a company that provides commercial property and casualty insurance. It was named the Best Place to Work in Insurance by Business Insurance magazine in 2017.
In addition, Consolidated Insurance is a member of the prestigious President’s Club reserved for FCCI’s highest performing agency partners.
The program rewards and supports agencies that demonstrate superior levels of performance and have the highest degree of ethics and integrity.
Consolidated Insurance is not a multi-level marketing (MLM) business opportunity or a pyramid scheme. In other words, it doesn’t have multiple layers of agents, mentors, and trainers.
It is, therefore, not suitable for agents who are primarily looking to recruit.
Now that you know a little more about how Consolidated Insurance works, I would like to provide some helpful tips as an experienced agent and agency owner since 2011.
Lead Generation Strategy
I’ve discovered that not all insurance agencies provide a duplicatable regeneration system that predictably brings you interested prospects week in and week out.
In fact, a lot of agencies teach you to talk to your friends, family members, or former business associates to ask them for referrals to sell insurance.
And while this isn’t necessarily bad, many people, myself included, will have a hard time talking to their limited network to seemingly hustle friends and relatives for sales.
As such, you need to decide upfront what type of lead generation strategies will work for you. For instance, in final expense sales, we do not rely on generating referrals. Instead, we use direct mail leads and physically visit the prospect or call in advance to set an appointment.
I virtually never worked my existing network because my lead generation efforts provided plenty of prospects to follow up on.
Again, I’m not trying to say that my method is best, but it does create results. Plus, you can scale this strategy for multiple agents to use, especially if they’re not comfortable working their own network.
Bottom line? Seriously think about your lead generation strategies.
I hope you enjoyed this article and now understand a little more about how an insurance sales career at Consolidated Insurance Agency works.
I train new and experienced agents to become top producing agents in final expense, Medicare Advantage, and annuity sales.
If you’d like more information about how my organization works, click the link here.
Make sure to also check out my agent success stories as well as my best selling insurance sales books.
January 03, 2023
January 03, 2023
January 03, 2023