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Team C Topic Summary - Deposit loan financial card and...

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Product/Service Name: State Farm Insurance Independent Agent Product Service Overview: There are over 90 individual products available to agents (some products may not be available to all locations). The products range from a wide variety of insurance and financial services to help customers both today and in the future. Target Market: Competitive Advantage: As a independent State Farm agent, the benefits come from a strong brand and a competitive product line. Also, agents benefit from local and national advertising and marketing campaigns. State Farm has been rated number 1 in car insurance since 1942, number 1 in homeowners insurance since 1964, and a leader in boat insurance. State Farm Bank is also rated among the top 1% of U.S. Banks in the following categories:
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Unformatted text preview: Deposit, loan, financial card, and small business lending products. Challenges: Obtaining start up costs, Start up scenario: As a State Farm independent contractor, the agent is responsible for all expenses; however State Farm does provide support to help manage these expenses. Upon selection and approval to become an agent, you begin a paid internship. The next step is to become a one year term Independent Contractor Agent where the agent received a signing bonus and a second bonus after 12 months. Agents have the option of renting furniture and equipment for a monthly rate to assist with start-up costs. Some equipment may come at little or no cost for the agent. Relocation benefits are available. Source: http://www.statefarm.com/careers/...
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  • Fall '10
  • Professor
  • State farm, State Farm Insurance, State Farm Insurance Independent Agent, State Farm agent, Product Service Overview

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