Contracting Direct to Carrier

[Newbie1652]

Hi everyone! My agency is growing quickly, and I want to make sure we're maximizing our compensation levels based on production. Does anyone know which carriers allow agencies to contract directly with them? If not, what's the process for getting that done? I'm also looking for recommendations on carriers or channels where I can achieve a 150% comp level or higher. We submitted $1.2 million in business this month, just to give an idea for those with experience. Currently, I'm not contracted directly with any carrier, and my comp ranges from 125% to 130%, depending on the carrier. Any advice is appreciated!

 

[briangreenberg]

What type of insurance are you writing? Term? Final Expense? You may want to contract directly with a few carriers and then get high comps from a good IMO/BGA for the rest of the companies.
Mutual of Omaha may be an option for contracting directly.

 

[Tampa Bay Rep]

What type of insurance are you writing? Term? Final Expense? You may want to contract directly with a few carriers and then get high comps from a good IMO/BGA for the rest of the companies.
Mutual of Omaha may be an option for contracting directly.

Yeah, Mutual of Omaha would be a very good one to look into.

 

[theinsuranceman]

Hi everyone! My agency is growing quickly, and I want to make sure we're maximizing our compensation levels based on production. Does anyone know which carriers allow agencies to contract directly with them? If not, what's the process for getting that done? I'm also looking for recommendations on carriers or channels where I can achieve a 150% comp level or higher. We submitted $1.2 million in business this month, just to give an idea for those with experience. Currently, I'm not contracted directly with any carrier, and my comp ranges from 125% to 130%, depending on the carrier. Any advice is appreciated!

With 1.2 million in a one month period Senior Life would put you at 145%. If you can crack 1.5 million in a one month period they'd put you at 150%. Call me if you like 252-292-3350....Greg

 

[insuredbyijm]

Contact the carriers' agency sales departments to inquire about direct contracts. For 150%+ comp levels, consider top level carriers or IMOs that support high-volume agencies. With $1.2M in monthly production, you're in a strong position to negotiate. Athene, American Amicable, and Mutual of Omaha are worth exploring.

 

[Sheryl J Moore]

If annuities are in the mix, Athene won't do agent-direct. Midland National Life, Pacific Life and Jackson National Life are known for agent-direct contracting in the annuity business though. sjm