Finding P&C New Insurance Companies

[bodbod]

How do independent agents find NEW P&C insurance companies to appoint with / write for? " Especially personal auto non standard or standard "

New as in recently formed or as in entering a new state For example "Crackfiend Insurance is now writing in FLORIDA and we are looking for agents"

New insurers are easier to appoint with but I just don't know how to know about them. Is there some type of group where they tend to be announced?

Asking especially for the state of Florida BUT anything helps.

 

[Sam Williams]

Sometimes a small association is a good start. Iroquois Group is a good example and you can go down the rabbit hole from there, there are a few. Just make sure you own your book of business 100% and have freedom. SIAA wanted us to join bad and we almost did but read the contract where it said they basically had a say-so in how our agency was run and what we could do going forward, including asking them PERMISSION to sell the agency and then they had a say-so in who I sold it to! I asked the rep about it and it was basically "We don't enforce it, it's just a safety net for us" but I wasn't down for that at all. Its fine if we want to partner and share in LR bonuses and I'm paying a membership, but I'm not doing all that and then giving up control on an agency I built. Associations are a great place for new agents, just really read over the contracts and ask questions.

 

[Adriano Medeiros]

@bodbod which route you took, did you get appointed directly by carriers or had to join an association / cluster?

 

[marindependent]

Hunt for them, Sell your Agency

 

[Al3x Lee]

Sell your Agency

That seems to be the goal nowadays. How much longer until the small, local agency is non-existent?

 

[Matthew Labb]

@bodbod which route you took, did you get appointed directly by carriers or had to join an association / cluster?

curious on this one too.

For smaller more regional carriers you'll have a better opportunity to get appointed independent of a network. But networks sure make it a quicker process with many other carriers.

If you're in a network, or considering joining one... you may find my youtube short video helpful: Ability to contract with carriers outside your P&C network is crucial #insuranceagency - YouTube

 

[marindependent]

ty to contract with carriers outside your P&C network is crucial #insuranceagency - YouTube

Agree with your Video - FY I

 

[Matthew Labb]

Agree with your Video - FY I

appreciate the vote of confidence! All networks handing it differently, but me personally, I wouldn't want to join a network that would only allow for me to write carriers they are appointed with.

 

[marindependent]

appreciate the vote of confidence! All networks handing it differently, but me personally, I wouldn't want to join a network that would only allow for me to write carriers they are appointed with.

Totally Agree that is....after all the big problem with many captive contracts.