Erie Insurance, Opportunities for P&C agency?

[medproducer181]

I am looking into starting a local P&C office in Northeast Ohio. I have over 4 years of home auto and commercial along with an extensive Medicare insurance business. I was hoping to combine the 2 into a local storefront. I saw some posts from Erie Insurance opportunities for P&C, basically starting an agency with them. The posts were from many years ago and I was hoping to get some current information. Is the opportunity still as good as it seemed then? Also a question I have is if I were to join an aggregator in the meantime, would that help (or hinder) an opportunity with Erie. The reason I ask is that I know the on-boarding process can be lengthy. Any info is greatly appreciated!
Also, any current recomendations on aggregators.

 

[fed up]

Give Erie a call and speak with a recruiter. Have $100 K that you can access if needed, meet their agency guidelines and you are all set.

 

[medproducer181]

Any other ideas regarding starting this process with an aggregator? Thanks!

 

[AZDave]

Most aggregators, clusters, groups have difficult exits and non competes. So if you go this route, marry it.

Or find an Indy that will put you as producer with an option for you to buy your book after x years and y conditions are met.

Can't speak for the Erie route....

I wish you the best! Crazy time to start new....

 

[marindependent]

Also, any current recomendations on aggregators.

There are a ton of recommendations on here on Clusters. Spend some time and read them - there are thousands of posts.

I would speak with a lot of agents in Ohio before starting off. The insurance marketplace is a complete nightmare right now, even from a National Standpoint.

Lastly - I usually suggest folks start an Independent Agency WFH situation before you go spend money on a lease. Some of the insurers/aggregators require a commercial office space but some do not. You might be surprised how many virtual agents there are out there right now.

Best of Luck

 

[ModernInsurance]

I'm in Northeast Ahia and have been running my brokerage for just over 5 years now.

Erie wants to see a fairly large BOB and lots of production, last I spoke with them.

Feel free to PM me with any questions, happy to help if I can.

 

[1reason]

Several key carriers are not offering appointments right now to the best of my knowledge. This includes Progressive, which you'll need (or at least really want) with Erie as the Erie UW is relatively tough. I believe Erie may have stopped appointments in some states recently. It's a long process to get an Erie appointment too, can take months. Lastly, Erie is great in many ways, albeit it has a captive feel to it, and it will require life production and high production generally compared to others. And I don't know this, albeit my impression is Erie is relatively not afraid to pull contracts based on the number of calls my agency receives from clients seeking a new agent. Best of luck

 

[MIGA1626]

Yea if you want to give up your soul go for an appointment. These people are the living embodiment of Karen's. It takes a year to get appointed because they stock you with background checks, PI's following you, credit check ect... You will no long be a business owner you will be a slave to their contract.