Help W/ SIAA and Smartchoice Calculations

[1manshow]

When I spoke with SIAA several years back the initial payment and the contract was negotiable. At least it was w/my recruiter in Pa...they asked for something like 10K and I said it waqs only worth 5K to me...they agreed to the 5K ???

I'd guess it is a large part of the compensation package for the recruiter. Although I decided to license with the carriers directly, SIAA appeared to have a much better support system(maybe that's part of what the $9,500 buys)

 

[Sales71]

I'm sure SIAA is the better choice, and I am aware they have the finance plan for the buyin.

But that's for people who has the money to pay for it. For my situation it's better suited that they take a bigger cut off of what I make. Then having to pay for it out of pocket if I don't make enough premium this month or next.

SIAA is the better choice but my situation doesn't allow me to go with them. If I had the money to put up front I would go with SIAA instead of smart choice.

Try smart choice you will do good in any organizatio.

 

[Guest]

Jim, you cant send private messages until you have like 25 posts, make some posts and then send me one, happy to talk to you

 

[thetruth]

When I spoke with SIAA several years back the initial payment and the contract was negotiable. At least it was w/my recruiter in Pa...they asked for something like 10K and I said it waqs only worth 5K to me...they agreed to the 5K ???

I'd guess it is a large part of the compensation package for the recruiter. Although I decided to license with the carriers directly, SIAA appeared to have a much better support system(maybe that's part of what the $9,500 buys)

One thing to keep in mind is the commission levels that one may not be able to reach when appointed directly with a carrier. I have several direct appointments with preferred carriers, however many of them have higher commission levels for either higher policy count (ex. 350+ auto policies) or higher volume (ex. 1m+ premium on the books with a carrier). So as a small agency (1m+ p/c book) I am looking to maximize my commissions by pooling my book. Plus I want to keep the commissions coming directly to me rather than having the commission paid from the master agency to me.

 

[Guest]

I get paid more commission with SIAA on Hartford than street level agents, same with the AARP portion.

WE get quarterly growth bonuses and yearly profitability bonuses, which far out weigh the entry fee.

We often get deals from our carriers, only applicable to SIAA agents such as a carrier will say, as a group for the next 3 months, if we, as a group, write 30 policies total, each month for those 3 months, we get an extra 10% commission, we get that kind of stuff all the time

 

[Sales71]

I think there is pro and con for every group. Just pick the one that fits you the most and go with it.

 

[insman71]

Try Iroquois Group. They have a higher split.

 

[iiinycboi]

i went with agent secure for now until i can set something up with SIAA, i couldnt deal with the non compete clause from the other clusters.

 

[redsquash]

The non-compete with Insurance Noodles say - for two years after leaving noodles, you cannot get "direct appointment" with the carriers you had available through I.N.

So I asked them, can I get appointment with "those" carriers through other IMO etc (like Superior Access). They didn't respond to this question.

 

[djs]

Actually, you have to read the full Insurance Noodle contract. There is a section in there that spells out the 'penalty' for getting appointed with their carriers. If I remember,basically it is a non-issue unless you roll business you placed with the noodle to the same carrier (or maybe platform carrier) under a direct appointment.

What does this mean? Roll it to a carrier they don't work with. Or leave it at the noodle for 2 years. As I read this, it doesn't affect new business.

Dan