Travelers Insurance Sales Career Review

Are you interested in selling insurance with the Travelers Insurance Sales Career?

If so, check out my review below. 

In this article, I will describe how a career selling insurance with Travelers Insurance works as well as offer some advice that, in my opinion, all new and aspiring agents should take on board.

Without further ado, let’s begin.  

PS: If you would like to learn more about insurance sales opportunities other than Travelers Insurance, we’ve posted tons of insurance career reviews on this page. 

NOTE: Are you interested in selling insurance as a business? Yes, then check out my Free Insurance Agent Resource Guide to find out more. 

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About Travelers Insurance

Travelers was founded as St. Paul Fire & Marine in 1863 in Hartford, Connecticut, by a stone contractor James G. Batterson. Its focus at the time was providing insurance for travelers who were using trains and steamboats to travel around the country. 

Since then, the company has expanded to offer a variety of personal and business insurance products. In 1993, it was bought by Primerica and exited its original travel insurance business.

In 2004, Travelers merged with the major Minnesota-based insurer St. Paul to form one of the largest property-casualty insurers and financial services firms.

The company has nearly 30,000 employees and 13,500 independent agents and brokers across the United States, as well as in Canada, the United Kingdom, and Ireland.

It is headquartered in New York City with offices in Hartford, Connecticut and St. Paul, Minnesota. 

Products Sold And Market Focus

Travelers provides commercial and personal property and casualty insurance products to individuals, businesses, government units, and associations. It offers:

  • Personal insurance, including home, auto, condo, renters, wedding, travel, pets, identity fraud, and other insurance products for individuals
  • Business insurance, including property and casualty insurance and insurance-related services, and 
  • Bond and specialty insurance, such as surety, crime, and financial liability businesses, and property and casualty products marketed internationally.

The company no longer sells life insurance.

How Leads Work

Travelers doesn’t provide information on how its agents find prospects. 

But if you are a new agent working for Travelers, you will most likely have to start by cold calling for prospects or work with friends and family for referrals and sales opportunities.

It’s up to every individual agent to increase their pay portfolio. If sales are high, management will usually provide leads as compensation for your work.

How Getting Paid Works

Like most insurance companies, Travelers doesn’t publish its commissions for agents. However, as an independent insurance agent, you can expect to be paid a small salary with a commission and a possible bonus.

The company provides support to their agents in the form of comprehensive onboarding, training, marketing, and networking programs.

Their One2One platform provides direct mail postcards and mailers, email templates, and other tools agents can use for planning, executing, and monitoring their marketing and sales campaigns.

Travelers agents are also eligible for supplemental income and bonuses.

Is It A Scam, MLM, Pyramid Scheme?

Travelers is not a scam. It is a legitimate company with over 150 years of presence in the industry. It is one of the best-known names in insurance and the second-largest property and casualty insurer in the country. 

Travelers has excellent financial ratings. It holds an A++ rating with A.M. Best, an A rating with BBB, and an AA rating with Standard & Poor. 

This is not a multi-level marketing (MLM) business opportunity or pyramid scheme. The company doesn’t have multiple layers of agents, mentors, and trainers and is not suitable for agents who are primarily looking to recruit. 

My Thoughts

Now that you know a little bit more about how Travelers Insurance Works, I’d like to offer my perspective on the subject. I’ve been selling insurance since 2011 and have been a National Insurance Agency owner since 2014.

What follows below isn’t necessarily specific to Travelers Insurance. Instead, it’s general advice that I think all new agents should consider before joining any insurance agency.

Releases, How You Get Paid, and Non-Competes

Commonly, insurance agencies require all agents to sign agency contracts before joining their organization. While this isn’t necessarily a bad thing on the surface, you still shouldn’t sign anything if you don’t have all the information. 

That’s why I want to highlight a few critical factors that, as new agents, you need to be aware of since you probably aren’t familiar with these terms. 

Getting a Release

Don't be a captive final expense agent.

Many of you will consider joining an organization that has access to multiple carriers. Most likely, in your time with said agency, you’ll get accustomed to their carriers and prefer to do business with them versus others.

This is where problems arise, especially if the agency fails to deliver on promises made during recruitment. 

Unfortunately, this being a direct sales business with a multi-level marketing spin to many organizations, a lot of agencies over promote to extreme levels to attract new recruits. 

After joining, agents soon realize they were misled and decide they would like to try out a different agency (but continue to represent the same carriers). 

However, therein lies the problem. In order for agents to continue working with the same carriers, their agency would need to sign off on what’s known as a “release.” 

This is something that ALL agencies could do if they wanted to, but many don’t because they would rather hold you hostage than allow you to quit freely. 

If your agency refuses to release your carriers, you will have to stop working for that carrier for at least six months before you can move them over to an agency of your choice.

Obviously, you can see the problem. What if the agency you join doesn’t deliver on its promises? What right do they have to prevent you from working with a carrier you like?

This is why I believe all good insurance agencies should give releases upon request. For example, at the Duford Insurance Group (my agency) I give releases as long as the agent doesn’t owe me chargeback money. This keeps me honest as an agency owner and makes me more likely to deliver on my promises.

When an organization refuses to release, they can say absolutely anything to get you excited to join. Why? Because it won’t affect them if and when you quit. Moreover, they don’t have to worry about pleasing agents because they can always recruit more through false promises. 

My advice? If you decide to join an independent agency, ask them outright if they will release upon request. If they can’t give you a clear response, it’s likely that the organization won’t follow through on its promises.

Concerns and How You Get Paid

When it comes to getting paid commissions from your sold insurance policies, there are a few things you should be concerned about.

But there’s one in particular that I’d like to address in this article and that’s… who pays you? 

Does the insurance carrier pay you directly, or does the agency pay you?

In my opinion, it’s best to have the carrier pay you directly—not the agency. If the agency pays you, this is called a “line of authority contract.” Simply put, this creates a middleman between you and the insurance carrier. 

I’m not sure if this is true for all organizations. But I’ve known agents who have joined my agency because their previous agencies didn’t pay them their full commission on closed deals. 

Again, I’m sure there are agencies that do a fair job of paying their agents what’s owed. But I can’t see how adding a middleman in between you and who pays you is a good idea. It seems to only benefit the agency—not the agent. 

So I generally recommend agents avoid this. It’s best to work with agencies that allow carriers to pay you directly. 

At my agency, the carriers pay you directly. And honestly, it seems to streamline the whole process as insurance carriers tend to have a more sophisticated accounting system set up to pay deposits on commissions consistently without issue. 

Non-Competes

More often than not when you join an organization, you’ll have to sign a “non-compete” for a number of years. 

A non-compete usually stipulates that you can’t contact any clients or contacts that you made while at the company, and if you do so, it puts you into legal jeopardy.

This is the norm with any sort of brand-name organization. It’s simply a consequence of working with any sales organization, especially one that is well-known. 

Luckily, you don’t have to worry about this with every organization. For example, my agency Duford Insurance Group doesn’t require agents to sign a non-compete contract. 

While associated with my organization, your clients are 100% yours. This means if your relationship ends with the Duford Insurance Group, you can continue to follow up with your prospects or clients and sell them insurance without any sort of legal consequences.

Conclusion

Thanks so much for reading my article on how selling insurance with Travelers Insurance works. 

I hope you enjoyed this article and now have a little more insight into how the insurance business works as a whole. 

If you’re a new or aspiring insurance agent, I highly recommend you check out my Free Insurance Agent Resource. You’ll find more tips and advice about how the insurance sales business works and answers to questions that you may not have even known you had. 

If you’d like to learn more about how I’ve helped insurance agents sell final expense and Medicare either over the phone or face-to-face, there’s more information on my FAQ page

Thanks for reading!

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