Combined Insurance – “Fair management. You can make money, but you have to work hard and drive extensively.”

Pros

Very detailed sales model with good training and good field support if you have the right manager. Strong corporate culture based on founder values. Pay is advanced weekly and based on annualized premiums due for policies sold.

Cons

Product is supplemental insurance which has a fairly high cancellation rate. About 20% -30% dependeng on your market. When this happens, the advanced commision chargebacks can catch you off gaurd. It is tough enough to sell. I attribute this to a client base that is low to middle income. This is something that was not discussed through the training process while setting income expectations. There is a lot of driving and there is not any consideration for automotive expenses. You lose residuals if you leave the company as a captured agent.

There is a tremendous amount of turnover. Revolving door for many, but not everyone. Certainly not for everyone. Its a whipping.

Payment of claims are erratic and sometimes difficult to file based on documentation requirements. Sometimes you really have to wrastle with underwritng.

While some benifits are ok, you have to pay for them and the health insurance is cheaper if obtained independatly.

Advice to Senior Management

Sales model works for the right individual. Clarify chargebacks as they relate to annualized commishion up front and do not let it be a surprise when it comes up later.