Forming Independent Agency - Need Insight Into The Process

Alright. Thank you. Finally someone who offers more than a four word response.

Can anyone provide me with a starting point on the contracting process? I cannot seem to find any resources regarding this vital step in forming a new agency.

The state is Indiana in case that helps.

I think if you hit the carrier websites directly, you can find out about appointments or if you email me I can give you my rep's numbers:

[email protected]
 
You strike me as the type who never explains anything, and it leaves me wondering why you even spend time on a forum that is meant to SHARE information... - not just provide one-line answers.

PS: many people on here will strike you that way, just ignore it, Moonlight is thankfully too busy to answer stuff he doesn't want to answer. other people will step up, like Josh, that's what the forum is about.
 
Thanks a lot Joshril. Very helpful.

It will be interesting to see how SEO (Search Engine Optimization) can help jump start a new independent insurance agency looking to rank for local search results.

Currently, that is what I do. I run a search optimization firm, so at least we have one marketing method to explore before dishing out the big bucks on traditional marketing.

I appreciate your help and if you need any advice on search related marketing strategies, please feel free to private message me and ask.
 
PS: many people on here will strike you that way, just ignore it, Moonlight is thankfully too busy to answer stuff he doesn't want to answer.

:D Great observation Rob! At the end of the day, I guess I'm kinda like Bobby Knight...(but I don't throw chairs)...

PS-I gave him great advise. But as you can see from his original question, he doesn't want to hear it...

You can lead a horse to water...
 
My agency is in Indianapolis IN.
We are strickly Health insurance and employee benefits.

I got my PC liscense and looked to contract with PC carriers.
I was told flat out they did not care how much biz. I could bring them they have enough agents liscensed. This came from mulitple carriers. They suggested that I hook up with agencies that already have their lines and sell for them.
At that point I decieded to stick with what I was good at.

So I do think you would have problems finding good carriers to sell. Then your Dads non compete would be a major problem with taking that biz to your new agency.

If you don't beleive what your being told ask your dad what carriers he is selling. Then call those carrier and try to get contracted with them. See what they tell you.
 
My agency is in Indianapolis IN.
We are strickly Health insurance and employee benefits.

I got my PC liscense and looked to contract with PC carriers.
I was told flat out they did not care how much biz. I could bring them they have enough agents liscensed. This came from mulitple carriers. They suggested that I hook up with agencies that already have their lines and sell for them.
At that point I decieded to stick with what I was good at.

So I do think you would have problems finding good carriers to sell. Then your Dads non compete would be a major problem with taking that biz to your new agency.

If you don't beleive what your being told ask your dad what carriers he is selling. Then call those carrier and try to get contracted with them. See what they tell you.

We are also in Indianapolis. Nice to see someone else from Indy on here.

Do you know if experience or amount of time in the business comes into play? Did they even ask you?

I am interested to hear your answer on that, because my dad does have several years in the biz already doing P&C, just not on his own. I wonder if relationship or experience play any part in acceptance.
 
Google will put you in touch with most carriers websites.
I also used the search function on the website and came up with threads referencing companies: smartchoice, iroquois group, and sais, that give new agents access to carriers.

Your dad is right. Unless you've got a couple years worth of expenses socked away or you're buying an existing book of business, its really difficult to start an agency up.
 
The barrier to entry is indeed very high when looking for good commercial lines appointments. It can definitely be done, but don't expect it to be like health or life where you can have all the options you need right off the bat.

From my personal experience, getting contracted with decent commercial carriers usually starts out through an MGA like Atlantic Specialty etc...

It seems like these are largely done based upon relationship. Even if a carrier syas no, there is always going to be someone at the carrier who can make it happen, you just have to find the right guy or gal.
 
Thanks Mel for the Atlantic Specialty reference. I've got a hard to place case and was running out of carriers.
Unfortunately, just looked at their markets and doesn't look good for me. Gotta email them just in case.
 
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