Carrier Access for A New P&C Shop

[FloridaStartup]

I am going to be starting a new brokerage, a vast majority of the stuff I plan on writing, I will be able to use wholesalers for. I also need to have access to some of the other carriers I sporadically write business through (Hartford, CNA, etc etc).

What is the best way to get access to those carriers? Will they appoint new brokerages for their online raters?
What about progressive?


I was considering joining a cluster or other aggregator, if you have had success with any of them let me know. I am not interested in disowning my book but giving away 1-2% on those deals wont kill me, and 250-500 a month for access wouldnt either.

thanks ahead of time!

 

[ksmart]

I would try to go direct if at all possible. Most contracts turn into a clusterfuk and you could end us kissing your hard work goodbye when they decide to change things.

With the market the way it is with a good business plan and an honest approach you should be able to get some interest from direct writers.

 

[Gulliver]

Look at Great Florida. Most of the agents involved with them are happy, however, I think they have increased their fees in recent years. I have heard nothing negative about them and I have met several of their agents.

Gulliver

 

[stevekei]

I have been a financial consultant with A. G. Edwards and was appointed with several top life & Health firms. Going out on my own I am able to get these appointments directly, but I got my P&C license and was going to start working with a friend of mine & his partner through United Agencies. Now his partner wants more control and wants me to sign a contract giving 50% and i would have to buy my book if I left. My friend says his book isn't big enough "he thinks" for us to go separately with United Agencies. Are there other avenues we should explore or should I start my own agency for life& health and take his deal for P&C

 

[jwterry3]

Going through the same thing (except in SC). There are some hungry carriers that will appoint directly based on your experience level and thier apetite in FL.

I plan on using Insurance Noodle.com for thier access in my state while I carefully take the time to choose which carriers I will need to go direct.

 

[moeasadi]

I have been a financial consultant with A. G. Edwards and was appointed with several top life & Health firms. Going out on my own I am able to get these appointments directly, but I got my P&C license and was going to start working with a friend of mine & his partner through United Agencies. Now his partner wants more control and wants me to sign a contract giving 50% and i would have to buy my book if I left. My friend says his book isn't big enough "he thinks" for us to go separately with United Agencies. Are there other avenues we should explore or should I start my own agency for life& health and take his deal for P&C

My agecncy pays new P & C agents 70/30 call me to discuss this opportunity

 

[OCinsurance]

I have been a financial consultant with A. G. Edwards and was appointed with several top life & Health firms. Going out on my own I am able to get these appointments directly, but I got my P&C license and was going to start working with a friend of mine & his partner through United Agencies. Now his partner wants more control and wants me to sign a contract giving 50% and i would have to buy my book if I left. My friend says his book isn't big enough "he thinks" for us to go separately with United Agencies. Are there other avenues we should explore or should I start my own agency for life& health and take his deal for P&C

P&C and Life and Health appointments are so different. I learned this many years ago when I went from L&H to selling many more lines. It took me years to obtain direct appointments. I think that giving up 50% of your commission is a lot, unless they are servicing it too.

Lately I have been speaking with quite a few independent agents about this and I'm seeing splits of 60%-70%. Most people would be likely to give you more if you produce more.

If you would like to chat about this, feel free to let me know. I'm not an aggregator, but we do have a few independent outside agents with whom we work.. I like that our agency is like a little family, and that the outside agents have a more personal relationship with people in our office, which generally helps them sell more because we have access to each ohers knowledge.

With this said, you may want to work with a smaller agency rather than an aggregator or huge GA.