You just got your Health and Life insurance licenses and now you're ready to start selling! But before you can leap into the world of insurance, you need to find a partner who will be there to work with you and support you. Below we'll go through the highlights of what you should look for in a Field Marketing Organization (FMO), also referred to as an Insurance Marketing Organization (IMO) and why you need to partner with one.
An Insurance Marketing Organization is the liaison between you and the insurance carriers you wish to contract with. Unless you decide to become a captive (career) agent with one insurance company, you have to go through an FMO to get contracted with different carriers. By doing so, you have the ability to work with as many carriers as you like and offer your clients an array of insurance products.
There are endless possibilities when it comes to partnering with an FMO, but some important things you want to consider before placing all your contracts with one organization are: longevity in the industry, selection of carriers and products, commission structure, education and training, marketing and sales support, lead generation and finally back office support.
It's easy to Google "best FMO" and have a list of agencies come up, but to determine which one will be the best fit for you depends upon several things. And when you're vetting which FMO meets your needs be sure to get answers to the questions below.
Selling insurance products and assisting Americans with their insurance needs can be highly rewarding. After all, everyone needs insurance. And when you partner with an organization that wants you to succeed, you're headed on a path for success. Do your research and be sure you get a good feeling about the organization before committing. The right FMO will fuel you with all the tools and resources you need to have a rewarding and profitable career.
Carolyn Portanova is the Director of Marketing at The Brokerage Resource and has been with the firm since 2012.