Knowing of independent insurance carriers was the best thing that ever happened to me. However, when I found out that I was going to have to do the interviews separately. The reason I got that notice was that the underwriting departments wanted to see each candidate individually before making a decision on who they would insure. So it went, and that meant that I had to do the interview the way I normally interview. That interview was done via the internet, and I now sit to this day, applying for insurance in the same way that I apply for everything else.
The first of my two interviews was with a sales recruiter, who handles all of the interviewing for the entire company. After that, there was an internal recruiter. After that, I had three more internal interviews and the last one was to be conducted by a supervisor from my own company. I'm talking about a six-month long process. I'm sorry to say that it took all of six months, but that is how the industry works.
After all of that interviews, you are down to the last interview, which is going to be conducted by the State Insurance Commissioner. You're going to be asked a few questions pertaining to your experience and background in selling insurance, but nothing about your personal situation. The State Insurance Commissioner is not looking to hire you, he is looking to make a strong Prima facie case that you can be a very good risk management agent, working independently. I am not sure if he even looked at my personal case file, so I don't know what kind of reasoning he could use to make that case.
Once the State Insurance Commissioner makes their decision, you're either hired or discharged. I believe the reason that the State Insurance Commissioner feels that he has to make a strong Prima facie case is because best independent insurance carriers make money selling insurance products in independent states. The agents make money based on how much risk they are assigning to each person when they sell the insurance products to them. If they are assigning a high amount of risk to a relatively inexperienced person who is looking to start an insurance business, and the inexperienced person ends up filing a claim and loses, the insurance agent makes money. However, the situation might be different if the inexperienced person was an experienced person with years of experience selling insurance products to clients with much better knowledge of the product and with a lot more knowledge of how to negotiate successfully.
So, in short, there is a big problem with the way that the insurance industry works and I've seen this problem first hand over the years. Insurance sales are being outsourced all over the country and this practice has been occurring for several years now. There are numerous articles I've read in regards to the problems with the insurance industry and how it is impacting smaller companies. In some cases, it has even reached the point where some of these companies are no longer providing insurance. I can't give you a direct example of this, but suffice to say that I know several insurance sales reps that are leaving their companies because they are unable to satisfy the demands of the massive insurance company. I've heard it said before that if you want to work in the insurance industry you need to go to the biggest company in the industry and I'll have to say that this statement couldn't be more true.
When an insurance company outsources the selling of insurance policies they are only making money that is required by the state to be kept by the company. It's not their money to be kept by the agent. This has the effect of forcing agents to sell policies that the underwriter thinks they can't sell, because there is no guarantee that they will be able to sell it. I think it goes without saying that the State Insurance Commissioner should investigate these practices and forces all insurance companies to adhere to the same rules that apply to all insurance agents. You as an independent agent can't do that. I believe if you were successful in selling pre-existing medical insurance policies that you would find it much easier to continue your career as an insurance agent. Check out this post that has expounded on the topic: https://www.dictionary.com/browse/insurance.