Agents Appointed with Allied: Question

[indienoise]

I'm currently running a satellite office pretty much on my own as an associate for a Nationwide agent. I want to own my own agency, but am searching of ways to do so without starting completely over. I have come to terms with the fact that I would have to buy an existing book of business and am prepared to do so. If I can't find an existing independent agency, then I'm thinking of either getting my volume up over $1M annually and then attempting to buy out my book from my principal agent and get my own direct contract with Nationwide (they are SUPER competitive in my area and also have a GREAT midmarket product that helps me move customers out of nonstandard that otherwise couldn't, and the brokerage/network program is fantastic), OR see if they'll allow me to buy out my current book from my principal agent and transition my Nationwide book to Allied and keep all my Titan/Victoria business with them, just as an independent agent. The only reason I'd consider doing this is to pick up a regional nonstandard carrier or two I can't access through Nationwide brokerage, and get my nonstandard closing rate from 40-50% to closer to 80%. The reason I want to sell more nonstandard? Crazy, I know, but I've definitely found a niche in picking up nonstandard customers and getting them to standard as quickly as possible.

I realize calling and inquiring about this is likely to raise some eyebrows from the folks at Nationwide, so before I do, I'd like some feedback about what kind of business you guys are placing with Allied. Do they pretty much only want preferred business, or do they go after standard/midmarket business as well? I see on the allied website they state NICOA is included in their products. If the underwriting guidelines are the same as they were 18 monthss ago, they are not nearly as friendly for moving insureds out of nonstandard as Nationwide Affinity Ins Co currently is, which is the company Nationwide agents are now selling.

So, what is your experience with Allied? Are independent agents really selling Nationwide Ins Co of America? Are you placing any midmarket business with allied, or only preferred?

Thanks for your feedback.

side note: can allied or independent agents access III/NBS, or is that only for the agents in their exclusive channel (if you can call it that anymore)

 

[blue_wynd]

Allied only wants the mid to preferred based on my experience. If it doesn't fit, they will tell you to use Titan or Victoria.

 

[indienoise]

Allied only wants the mid to preferred based on my experience. If it doesn't fit, they will tell you to use Titan or Victoria.

As long as they are after mid that's fine. I'm not spending a ton of time on preferred right now just looking for midmarket. I have a lot of business with titan/victoria so am very familiar with where that line is drawn. Just curious if allied is aggressively priced in midmarket as nationwide affinity is.

 

[blue_wynd]

As long as they are after mid that's fine. I'm not spending a ton of time on preferred right now just looking for midmarket. I have a lot of business with titan/victoria so am very familiar with where that line is drawn. Just curious if allied is aggressively priced in midmarket as nationwide affinity is.

Probably state specific. They are inline with Safeco and Travelers in my state. I really suggest getting with a competitive regional too if you plan to go Indy.