Creating the "perfect" P&C IMO

[Daddy Joe]

Just for fun... I am starting out in the insurance world and looking at several contracts/agreements that are out there for joining the major MGA's and Clusters. I have noticed that there is a huge amount of commitment on the P&C side for an independent agent vs. options for L&H where you can almost get direct appointments with no experience. Since this is the Insurance forum (for Agents by Agents!) I was wondering how you guys might do things differently. If you were creating a P&C focused IMO, and assuming you were established and had the right tools (and good carrier selection), how would you set it up?

-What would be a fair commission split for an agent that signed on with experience and no need for lead generation and/or training? What level book of business would you require in order to join on this program?

-What about a scratch agent who would need hand holding and regular support and/or leads?

-Would you allow your agents to walk away and retain their clients or would you have a buyout clause? Binding Authority? Non-compete?

-Would their be an initial investment from the new agent in order to join?

-Would this sort of thing even be possible given the carrier agreements and localization?

Curious to see some different opinions!

Joe

 

[BADTROUT]

Joe, I'm not an impartial bystander, because I've built both a retail agency, and what I consider to be "the best" of what you are saying... It for sure is more complicated on the p&c side but doable. We have both and the two sides are night and day.

It's a little too proprietary to put all of your questions out here but I can and would be happy to give you a little of my philosophy on how it oughta be... offline, and I dont want to hijack your thread.. Hit me up if you are interested and I'll make some time for you.

 

[Daddy Joe]

I would certainly enjoy speaking with you. PM me your number and I will give you a buzz!

Joe

 

[Markthebroker]

Joe, I'm not an impartial bystander, because I've built both a retail agency, and what I consider to be "the best" of what you are saying... It for sure is more complicated on the p&c side but doable. We have both and the two sides are night and day.

It's a little too proprietary to put all of your questions out here but I can and would be happy to give you a little of my philosophy on how it oughta be... offline, and I dont want to hijack your thread.. Hit me up if you are interested and I'll make some time for you.

Take his advice, but don't take any of his "blue candy" if he offers!

 

[Dreamiekid]

Take his advice, but don't take any of his "blue candy" if he offers!

right lol

 

[BADTROUT]

>O< Just sayin'

 

[Mike007]

I did a trial run with a company called I-insureme. I love their concept. You refer and they do the rest: quote, sales, and customer service. Getting a 50% commission for new business and renewal business doing very little work was amazing in my opinion.

Unfortunately, I-Insureme had two huge flaws that I couldn't get over:

1) No Ownership of book of business.

2) Extremely horrific customer service and extremely slow quoting from their third-party partner.

I would love to see other agencies implement a similar system.

 

[shawnmwalker]

Oh John, this is not the way.....

 

[Mike007]

A great alternative to I Insure Me is Big Rock Insurance. To learn more, visit: http://www.bigrockopportunity.com/.

That's very interesting. I will look them up. I know a lot of agents in the insurance industry like me who wants no part of running a P&C agency but would still like to send clients to an agency that makes them money without the headaches of running a P&C agency.

If I contact them and get a contract, do I need to let them know you referred me to them?
Do you know anyone that has personal experience with them? I hope that they are not a clusterf***k like I-Insureme.

 

[BADTROUT]

I feel behind the times having never heard of I-insureme. I'm not going to bash what I dont know, but it sounds too handsoffish to me.