The insurance industry has a devastating secret that most companies prefer to ignore: 90% of new insurance agents fail within their first year. For decades, this statistic has been accepted as “normal” – just another cost of doing business in an industry built on high turnover and low success rates.
David Price, founder and CEO of The Price Group (TPG), refuses to accept this reality. “That number isn’t just some stat,” Price explains. “It’s dreams crushed. Families hurt. And a hell of a lot of potential wasted.” Through innovative systems, comprehensive support, and a fundamentally different approach to agent development, Price and his team are proving that the 90% failure rate isn’t inevitable – it’s a choice.
The results speak for themselves: TPG agents consistently achieve success rates far above industry standards, with average monthly earnings of $8,500 compared to the industry average of $3,000. But how did they crack the code on agent success? What specific systems and strategies does The Price Group use to transform struggling newcomers into thriving insurance professionals?
Understanding the 90% Failure Rate
Before exploring The Price Group’s solutions, it’s crucial to understand why 90% of new insurance agents fail and why the industry has accepted this devastating statistic as normal.
The Traditional Agency Model
Most insurance agencies operate on a model designed for high turnover:
Minimal Investment in Training: New agents receive basic product knowledge but little practical sales training or ongoing support.
Sink or Swim Mentality: Agents are expected to figure out lead generation, sales techniques, and business development independently.
Poor Lead Quality: New agents often receive the worst leads – old, recycled, or unqualified prospects that experienced agents have already passed over.
Limited Support Systems: Beyond initial licensing, most agencies provide minimal ongoing coaching, mentorship, or performance optimization.
Financial Pressure: Agents face immediate income pressure without the skills or systems necessary for quick success.
The Hidden Costs of High Failure Rates
The 90% failure rate creates massive hidden costs for the insurance industry:
Recruitment Expenses: Constant hiring and training costs to replace failed agents Lost Productivity: Time and resources invested in agents who never become productive Client Service Disruption: Customers suffer when their agents leave the business Market Reputation: High failure rates damage the industry’s professional reputation Regulatory Scrutiny: High turnover attracts unwanted attention from regulators and consumer advocates
Why Agencies Accept High Failure Rates
Despite these costs, many agencies continue operating with high failure rate models because:
Numbers Game Mentality: The belief that hiring more agents compensates for high failure rates Low Investment Model: Minimal training investment means less financial loss when agents fail Short-term Focus: Emphasis on immediate production rather than long-term agent development Competitive Pressure: Industry norms create pressure to maintain traditional approaches Lack of Better Models: Many agencies simply don’t know how to create higher success rates
David Price’s Personal Experience with Industry Failure
David Price’s commitment to breaking the 90% failure rate stems from his own difficult experience as a new agent and witnessing the struggles of his peers.
The Personal Struggle
When Price started in insurance in 2018, he experienced firsthand why most new agents fail:
Terrible Initial Performance: “I was TERRIBLE. I sounded awkward as hell on the phone.” Poor Lead Quality: “I was calling garbage leads that barely picked up.” No Mentorship: “I had zero mentorship. I was figuring everything out the hard way.” Financial Stress: Making just $2,000 in his first month while working 70-80 hour weeks Isolation: Working without support systems or guidance from experienced professionals
Witnessing Peer Failures
Price didn’t just struggle personally – he watched many talented people fail around him:
“A lot of new agents I started with quit too within the first year. Some of them tapped out before they even really tried.”
This experience created a deep understanding of why agents fail and a determination to create something better.
The Breakthrough Realization
Price’s eventual success ($213k in his first full year, growing to over $1 million annually) wasn’t due to natural talent – it was the result of persistence and systematic problem-solving. He realized that with the right systems, support, and approach, most of the agents who failed could have succeeded.
“I would’ve liked to see more agents do that. It may not have happened during my time, but today, with what we’re building, with our system, and with our leads, I think there’s a better chance of it happening.”
The Price Group’s Revolutionary Approach
The Price Group’s approach to agent development represents a complete departure from traditional industry methods. Instead of accepting high failure rates, TPG has built systems specifically designed to maximize agent success.
Comprehensive Training Systems
Unlike traditional agencies that provide minimal training, TPG offers extensive educational programs:
Pre-Launch Preparation: 2-3 weeks of intensive training before agents make their first sales call Product Mastery: Deep knowledge of all available products, carriers, and underwriting guidelines Sales Methodology: Systematic approach to prospecting, presentation, and closing Technology Training: Complete mastery of all systems, tools, and platforms Ongoing Education: Regular training updates, skill development sessions, and market education
Quality Lead Generation
One of the primary causes of agent failure is poor lead quality. TPG addresses this through:
Exclusive Leads: Each prospect goes to only one agent, eliminating competition and confusion High-Quality Sources: Sophisticated Facebook advertising spending over $10,000 daily Real-Time Distribution: Fresh leads delivered immediately to maximize conversion potential Geographic Optimization: Leads matched to agent territories and preferences Qualification Standards: Rigorous screening ensures only genuinely interested prospects reach agents
The results are dramatic: TPG agents achieve 17.55% close rates compared to industry averages of 8-12%.
Mentorship and Coaching
TPG provides the mentorship and coaching that Price wished he had received as a new agent:
Personal Mentors: Each new agent is paired with a successful, experienced mentor Regular Check-ins: Weekly coaching sessions to address challenges and optimize performance Performance Analysis: Detailed review of metrics, call recordings, and improvement opportunities Peer Support: Team environment where agents learn from and support each other Leadership Development: Clear pathways for advancement and increased responsibility
Financial Support and Realistic Expectations
TPG helps new agents navigate the financial challenges of starting an insurance career:
Realistic Income Projections: Clear expectations about income progression and timeline ROI Education: Teaching agents to view lead investment as business investment rather than expense Cash Flow Management: Strategies for managing income fluctuations and business expenses Success Metrics: Clear benchmarks for measuring progress and identifying areas for improvement
Technology and Systems
Modern technology plays a crucial role in agent success:
Lead Management Systems: Automated distribution, tracking, and follow-up capabilities Performance Analytics: Real-time feedback on key metrics and performance indicators Communication Tools: Professional phone systems, CRM integration, and marketing automation AI Integration: Emerging artificial intelligence tools to optimize agent performance and results
TPG Results vs. Industry Standards
The proof of The Price Group’s approach lies in measurable results that dramatically outperform industry standards.
Agent Earnings Comparison
Industry Average Agent Income: $3,000 monthly TPG Average Agent Income: $8,500 monthly Improvement Factor: Nearly 3x industry standard
Success Rate Improvements
While industry data shows 90% of new agents fail within their first year, TPG agents demonstrate significantly higher success rates:
Higher Retention: Agents stay with TPG longer due to better support and results Faster Success: New agents achieve profitability more quickly with quality leads and training Sustained Growth: Agents build long-term, sustainable businesses rather than experiencing early burnout
Performance Metrics
TPG agents consistently outperform in key areas:
Close Rates: 17.55% vs. industry average of 8-12% Agent ROI: 400-1200% vs. typical industry ROI of 100-200% Lead Conversion: Higher percentage of leads convert to applications and sales Client Satisfaction: Better service due to agent confidence and product knowledge
Financial Impact
The financial transformation for agents is dramatic:
First-Year Earnings: TPG agents often exceed $100,000 in their first year Career Progression: Clear pathways to six-figure and multi-six-figure incomes Team Building: Opportunities to build teams and create residual income Long-term Wealth: Sustainable business models that create lasting financial security
Specific Strategies for Breaking the Failure Cycle
The Price Group has identified specific strategies that separate successful agents from those who fail.
Addressing Root Causes of Failure
Lead Quality Issues: Providing exclusive, qualified leads eliminates the primary frustration that causes agents to quit
Skill Development Gaps: Comprehensive training ensures agents have the competencies needed for success
Support System Absence: Mentorship and coaching provide the guidance most agencies fail to offer
Financial Pressure: Realistic expectations and faster income generation reduce financial stress
Isolation and Discouragement: Team environment and peer support combat the isolation that destroys motivation
Building Confidence Through Competence
Product Knowledge: Deep understanding of all available products builds agent confidence Sales Skills: Systematic training in proven sales methodologies increases success rates Market Knowledge: Understanding target demographics and their needs improves presentation effectiveness Technology Mastery: Comfort with all systems and tools reduces operational friction Performance Tracking: Clear metrics help agents understand their progress and areas for improvement
Creating Sustainable Success Patterns
Goal Setting: Clear, achievable goals with systematic progress tracking Habit Formation: Developing daily routines and disciplines that drive consistent results Problem Solving: Teaching agents to identify and solve challenges rather than giving up Continuous Improvement: Regular skill development and performance optimization Long-term Thinking: Building careers rather than just seeking immediate income
The Systematic Approach to Agent Development
The Price Group’s agent development follows a systematic approach designed to maximize success probability.
Phase 1: Foundation Building (Months 1-3)
Intensive Training: Complete immersion in products, sales techniques, and systems Mentor Assignment: Pairing with experienced, successful agent for guidance Initial Lead Flow: Starting with manageable lead volume to build confidence Basic Competency: Achieving minimum standards in all core competencies Early Wins: Focusing on achievable goals to build momentum and confidence
Phase 2: Skill Optimization (Months 4-12)
Advanced Techniques: More sophisticated sales strategies and market approaches Performance Analysis: Detailed review of results and optimization opportunities Lead Volume Increase: Scaling up lead flow as competency and confidence grow Specialization Development: Identifying and developing areas of particular strength Leadership Opportunities: Beginning to mentor other new agents
Phase 3: Business Building (Year 2+)
Team Development: Building and leading teams of other agents Market Expansion: Expanding territories and product lines Advanced Training: Becoming expert in specialized areas and advanced techniques Income Scaling: Achieving and sustaining high income levels through team building Industry Leadership: Becoming recognized as a leader and expert in the field
Technology’s Role in Reducing Failure Rates
The Price Group leverages technology as a key differentiator in agent success.
AI-Powered Agent Support
Performance Prediction: AI systems that identify agents at risk of failure before it happens Optimization Recommendations: Personalized suggestions for improving individual agent performance Lead Matching: AI-powered matching of leads to agents based on historical success patterns Skill Gap Analysis: Identifying specific areas where individual agents need additional training
Automated Success Systems
Lead Distribution: Automated systems ensure optimal lead allocation and timing Follow-up Management: Systematic follow-up sequences that maximize lead conversion Performance Tracking: Real-time monitoring of all key performance indicators Communication Tools: Professional systems that make agents more effective and efficient
Data-Driven Decision Making
Performance Analytics: Detailed analysis of what drives success for individual agents Market Intelligence: Understanding market trends and adjusting strategies accordingly Predictive Modeling: Using historical data to predict and prevent agent failure Continuous Optimization: Regular system improvements based on performance data
The Economics of Agent Success
The Price Group’s approach to reducing failure rates creates powerful economic benefits for all stakeholders.
For Agents
Higher Income: Successful agents earn significantly more than industry averages Career Security: Lower failure rates mean more stable, long-term careers Professional Growth: Clear advancement pathways and skill development opportunities Financial Independence: Building businesses that create lasting wealth
For The Organization
Reduced Recruitment Costs: Lower turnover means less money spent on constantly hiring new agents Higher Productivity: Successful agents produce more business and generate more revenue Better Market Position: Higher success rates attract better agent candidates Sustainable Growth: Building a stable foundation for long-term organizational growth
For Clients
Better Service: Successful, well-trained agents provide superior client service Continuity: Lower turnover means clients maintain relationships with their agents Professional Standards: Higher competency standards benefit all clients Market Reputation: Industry success improvements benefit all participants
Future Vision: Eliminating the 90% Failure Rate
David Price and The Price Group have an ambitious vision for transforming the insurance industry.
Industry-Wide Impact Goals
Demonstration Effect: Proving that high success rates are possible and profitable Best Practice Development: Creating models that other organizations can adopt Professional Standards: Raising expectations for agent training and support Market Education: Helping consumers understand the value of professional insurance agents
Scaling the Solution
Geographic Expansion: Bringing TPG’s successful model to more markets Technology Development: Continuing to innovate in agent support systems Training Programs: Developing educational programs that other organizations can use Industry Leadership: Becoming a recognized leader in agent development and success
Long-term Transformation
Cultural Change: Shifting industry culture from high turnover acceptance to success focus Regulatory Impact: Demonstrating that better agent success rates benefit consumers Professional Recognition: Elevating the professional status of insurance agents Market Growth: Expanding the overall insurance market through better agent performance
Getting Started with The Price Group
For agents tired of traditional agency models and interested in dramatically higher success probability, The Price Group offers proven alternatives.
Ideal Candidate Profile
Commitment to Success: Willingness to invest time and effort in proper training and development Coachability: Openness to learning and following proven systems Professional Standards: Commitment to ethical practices and client service excellence Growth Mindset: Desire to continuously improve and develop new capabilities Long-term Thinking: Interest in building a career rather than just seeking immediate income
What TPG Provides
Comprehensive Training: Everything needed to succeed, from product knowledge to sales techniques Quality Leads: Exclusive, qualified prospects that convert at industry-leading rates Ongoing Support: Mentorship, coaching, and team environment for continued growth Technology Platform: Advanced systems and tools that maximize productivity and results Career Advancement: Clear pathways for income growth and leadership development
Success Timeline Expectations
Month 1-3: Building foundational competencies and achieving initial success Month 4-12: Optimizing performance and scaling income to $8,000-12,000 monthly Year 2+: Building teams and achieving high five-figure to six-figure monthly income
Conclusion
The insurance industry’s 90% failure rate is not inevitable – it’s the result of outdated systems, inadequate support, and acceptance of poor performance as normal. David Price and The Price Group have proven that with the right approach, technology, and commitment to agent success, failure rates can be dramatically reduced while agent income and satisfaction increase substantially.
The choice facing the insurance industry is clear: continue accepting devastating failure rates that crush dreams and waste potential, or adopt proven methods that create success for agents, organizations, and clients alike.
For individual agents, the decision is equally clear: continue struggling with traditional agencies that accept failure as normal, or join an organization specifically designed to maximize your probability of success.
The Price Group’s approach doesn’t guarantee success – that still requires hard work, commitment, and professional execution. But it does provide the systems, support, and resources that make success achievable for agents willing to do the work.
As David Price often says: “Breaking production records is one thing. But destroying that 90% failure rate and changing more lives? It doesn’t get any more fulfilling than that.”
The opportunity to be part of transforming the insurance industry while building a successful career is available now. The question isn’t whether change is needed – it’s whether you’ll be part of creating that change.
Ready to break free from the 90% failure rate? Connect with David Price and The Price Group team to explore how their proven systems could transform your insurance career and help you achieve the success that traditional agencies make nearly impossible.
