- Staff
- #11
Comparing Insurance Clusters (MGA's/Aggregators/Wholesalers)
G
Guest
Guest
There arent that many clusters out there, most of the companies on that list are SIAA Master Agencies, not a cluster.
STI, I see him spewing his spiel on many BB's and all he does is try to sell whatever he sells.
I dont think he is even an agent anymore
All he does is talk about clusters like he is part of everyone of them. I got some much more AFTER I joined SIAA, that they couldnt tell me about before hand,
- 1,076
The guy who runs that site is an agency owner and we happen to belong to the same cluster that has no affiliation with SIAA. It is a resource and you have to do you own due diligence... he cannot possibly provide detailed info on every cluster as allot of that is private info subject to non disclosure agreements. In several parts of the country... They are the only cluster option that is openly advertising. Even with a large group like SIAA there is likely differences depending on
master agencies. For a fairly new free site... I
think Agency Equity provides a ton of information.
I second that.
- 1,473
Agent equity know his ass. Bubbba found it for him.
u know the rest...
u know the rest...
- Thread starter
- #17
Ferrari
Expert
- 23
Had a meeting with a representative from Iroquois Group.
For my area and for being new they offered me several companies to represent: GMAC, MetLife Home & Auto, Foremost and SafeCo.
Contract is 6 pages total very straightforward and simple.
Without any doubt they do require AM Best rated E&O and they wouldn't touch UnitedDefendCo or E&O For Less.
There is no upfront charge or membership dues, besides $150 monthly fee. They don't ask for any equity in my agency and book of business is 100% mine. Binding authority is a part of the deal too. Also there is different tiers offered for commission and bonuses. There is also 2yr non compete with carriers in their cluster as a part of contract.
For my area and for being new they offered me several companies to represent: GMAC, MetLife Home & Auto, Foremost and SafeCo.
Contract is 6 pages total very straightforward and simple.
Without any doubt they do require AM Best rated E&O and they wouldn't touch UnitedDefendCo or E&O For Less.
There is no upfront charge or membership dues, besides $150 monthly fee. They don't ask for any equity in my agency and book of business is 100% mine. Binding authority is a part of the deal too. Also there is different tiers offered for commission and bonuses. There is also 2yr non compete with carriers in their cluster as a part of contract.
Last edited:
- 1,473
F what state are u in??
I went through this process myself and made a big excel spreadsheet listing available carriers, comp, dues, and other notes. I doubt I could openly share without risking the ire of one of the clusters.
Suffice it to say when it came down to the following:
- total costs
- flexibility
- proactive agency development
- ease of gettig started as a "green" p&c agency
For me in CA it was down to SIAA and Iroquois. I finally decided on the former and feel it was a great decision. However there's no one "best" choice, it all depends on your agency structure.
Suffice it to say when it came down to the following:
- total costs
- flexibility
- proactive agency development
- ease of gettig started as a "green" p&c agency
For me in CA it was down to SIAA and Iroquois. I finally decided on the former and feel it was a great decision. However there's no one "best" choice, it all depends on your agency structure.
I am a marketing representative for the ISU Network Group.
The ISU agency network are selectively appointing new agents in all 50 states. With a focus to grow outside of CA.
Key considerations when looking at a cluster be it SIAA or others and our stance.
- We are a national group with national appointments and middle market access with major carriers
- We are one of the largest in the nation verified by Insurance journal
- You Own Your Book 100% and can sell to the highest bidder as desired and keep 100% including 100% growth.
- We pay 100% of the commissions, We take no Equity position or other hold on your business.
- We pay out majority of the Profit Sharing
- We have a direct access model for most carriers, you will be working with the marketing reps and underwriters directly; no access desk 99% of the time, but carriers at times limit access not us.
- Our Exit Clause is when you let us know and we'll sign off on everything and we commit to that via our contract terms, no reasons or penalties apply.
We are happy to review options with like minded agents with a good agency and the need for a good national partner and like the independent part of independent agency.
I know as I was a successful ISU agent for many years before moving to Texas to work with ISU. We are not a fit for all agencies but if a relationship with us can't make you a new return above our cost. in fact we will tell you before you join and show you the revenue difference and service advantage of a good partnership.
Check our website for more details or to get state specific details joinisu .com
Peter Cross
512-423-1450
The ISU agency network are selectively appointing new agents in all 50 states. With a focus to grow outside of CA.
Key considerations when looking at a cluster be it SIAA or others and our stance.
- We are a national group with national appointments and middle market access with major carriers
- We are one of the largest in the nation verified by Insurance journal
- You Own Your Book 100% and can sell to the highest bidder as desired and keep 100% including 100% growth.
- We pay 100% of the commissions, We take no Equity position or other hold on your business.
- We pay out majority of the Profit Sharing
- We have a direct access model for most carriers, you will be working with the marketing reps and underwriters directly; no access desk 99% of the time, but carriers at times limit access not us.
- Our Exit Clause is when you let us know and we'll sign off on everything and we commit to that via our contract terms, no reasons or penalties apply.
We are happy to review options with like minded agents with a good agency and the need for a good national partner and like the independent part of independent agency.
I know as I was a successful ISU agent for many years before moving to Texas to work with ISU. We are not a fit for all agencies but if a relationship with us can't make you a new return above our cost. in fact we will tell you before you join and show you the revenue difference and service advantage of a good partnership.
Check our website for more details or to get state specific details joinisu .com
Peter Cross
512-423-1450
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