Question for Insurance Brokers (Canada)
I'm a new broker (or producer) for a Brokerage located in Canada. I have a few questions I'm hoping somebody here can help me with.
Should I be commission only? Currently, I am 60/40 split, but they pay me through my company instead of having me as an employee. As a result, I get no pension contributions, overtime, benefits.. etc. Is this normal?
How should I get leads? So far I've just been trying to get quotes for people I already know, which is a large network (definitely more than average) but eventually that will dry up, and I figure I'll be going in person to businesses and trying to get them a deal.
What should I expect for commercial insurance? Where should I focus to get the most bang for my buck in terms of effort/pay?
Any tips? What did you wish you knew when you first started?
Thanks to all who can help