- 1,076
Sounds like a really bad deal. I give my producers a better deal than that on renewals.
Brightway Associate Agency
- Thread starter AndreaSti
- Start date
I work for Brightway as a producer in S. FL. For me it's a great set-up. I spend 95% of my time on sales. Most if not all of the service (payments, renewals, changes, etc) are all handled by our service center. I'm not trying to sell you on Brightway. Just figure how much of your commission would go towards hiring one or two customer service agents to handle the mundane stuff.
- 322
Less than %15 on a new piece of business and less than %45 on renewals. With less aggressive commission split on their end they would have had me.
Few other things in there had me running the other way.
O
oicu812nbama
Guest
how do they handle 45% of the service work? are you supposed to tell a customer to sit down and call them instead of speaking to you?
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Guest
Guest
O
oicu812nbama
Guest
i knew youd miss me. twfg has a program like siaa but has a starter program where you can write at a lower commission until you buy in. does siaa have that too? they won't call me back.......InsuringPV
New Member
- 2
Wanted to clarify a few things since I am a Brightway agent and most of the comments posted are off base.
I will start with the commission split. It is true that we get 85 new but in most cases they have have negotiated a higher commission split with the carrier.
1000 x 12%= 120
1000 x 15%=150 X 85%=128
So on new you come out ahead in most cases
We do pay quite a bit on the renewal but to me it is well worth it.
My closing % is over 80%
My retention is 93%
I never get any mail in my office
I dont have to do accounting
I do not have to manage CSR'S
I could go on and on but my point is they provide good value
My office alone wrote over 1900 policies last year and we are on pace to write over 2200 new policies this year with only four employees.
As to the book ownership...
I have a guaranteed buyout of 1.5X
I can sell the book to whatever the market will provide
My county has six offices and is sold out with a waiting list.
They share the brand equity when a new franchise is sold
I can gift the agency to my kids.
It has been tried, tested, thought out and proven and they have made a believer out of me..
I will start with the commission split. It is true that we get 85 new but in most cases they have have negotiated a higher commission split with the carrier.
1000 x 12%= 120
1000 x 15%=150 X 85%=128
So on new you come out ahead in most cases
We do pay quite a bit on the renewal but to me it is well worth it.
My closing % is over 80%
My retention is 93%
I never get any mail in my office
I dont have to do accounting
I do not have to manage CSR'S
I could go on and on but my point is they provide good value
My office alone wrote over 1900 policies last year and we are on pace to write over 2200 new policies this year with only four employees.
As to the book ownership...
I have a guaranteed buyout of 1.5X
I can sell the book to whatever the market will provide
My county has six offices and is sold out with a waiting list.
They share the brand equity when a new franchise is sold
I can gift the agency to my kids.
It has been tried, tested, thought out and proven and they have made a believer out of me..
O
oicu812nbama
Guest
Hi oicu812nbama,
We are a fairly new private agency seriously considering a franchise purchase to accelerate growth.
We read your posting dated 4/11/2012, responding to comments regarding Brightway franchise.
The information you provided was extremely helpful. We are looking at Brightway and WeInsure.
WeInsure is Florida only at this time so we are assuming you did not look at them when you choose Brightway given your location.
They are a very similar business model so we will conduct a review of both before deciding.
Do you have any comments regarding WeInsure?
Do you have any advice in general?
What are the Brightway negatives?
We are a fairly new private agency seriously considering a franchise purchase to accelerate growth.
We read your posting dated 4/11/2012, responding to comments regarding Brightway franchise.
The information you provided was extremely helpful. We are looking at Brightway and WeInsure.
WeInsure is Florida only at this time so we are assuming you did not look at them when you choose Brightway given your location.
They are a very similar business model so we will conduct a review of both before deciding.
Do you have any comments regarding WeInsure?
Do you have any advice in general?
What are the Brightway negatives?
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