Brightway Associate Agency

Jan 24, 2011

  1. shawnmwalker
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    shawnmwalker Guru

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    Am I missing something?

    How much for the Franchise?

    Why get 45% on renewal when you can get a carrier service center for 1% of the Commission?

    85% on New? Why, when 90% can be found?

    Brightway footprint out side of FL?

    Ownership?
    Pay out value at 1.5?


    What am I missing?
     
  2. FL P&C Broker
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    FL P&C Broker Guru

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    Most of the cluster options in Florida are the franchise model unfortunately
     
  3. shawnmwalker
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    shawnmwalker Guru

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    SO how does a local SIAA stack up to a Brightway?
     
  4. FL P&C Broker
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    I haven't spoken to somebody in awhile that has tried to go the SIAA route, but last time I did they were only taking on new agents in certain parts of the state. I believe they are the only cluster with a decent footprint here. Everything else is franchise style...that I know of. My assumption is that we aren't appealing to cluster groups because our home owner carriers are all regional, specific to Florida.

    SIAA lets you hang your own business name, etc. With Brightway, the Brightway name is on the door.
     
  5. pburb
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    pburb New Member

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    The difference is brand image and awareness. Brightway Insurance has over 160 agencies nationwide (consumer confidence) how many agencies do you have with your name on the door?

    Its like pretending you can open up your own hamburger joint and do it better than McDonalds, Wendys, Burger King ... you get the point

    In reading these threads i get the overall impression that people on here only look at commission/renewal splits ... they dont seem to understand the benefits of being a franchisee (ie: marketing, e&o, legal, underwriting, cust service)
     
    pburb, Jul 18, 2015
    #35
  6. PhilL
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    PhilL Guru

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    With any insurance agency network or franchise, make sure to carefully assess the terms for ownership of the business that you write. Read all of the fine-print. Be positive that you understand all the terms. Pay for a review by a law firm that specializes in insurance contracts or join your State's PIA and/or Independent Ins Agts group, as those in most States will provide a free contract review service for their member agencies.
     
    PhilL, Jul 21, 2015
    #36
  7. shawnmwalker
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    shawnmwalker Guru

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    I agree with Phil 100%
     
  8. johnkearnsagency
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    johnkearnsagency Expert

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