Insurance Noodle 2.0

[bill777]

What is your experience with Noodle 2.0?
They say you can get a price instantly and bind the quotes online instead of waiting days like before.
I was going to sign up with smartchoice cause they provided steady commisions instead of noodle's way like 2-13% somewhere in the middle. But smartchoice can't give appointments with big carriers to new agencies right now and they have productions requirements with travelers 3 new business a month go figure, so i'm looking into noodle as my next option.
Any thoughts advices would be greatly appreciated, thanks.

 

[HealthGuy]

You can now bind thru the Noodle? Really? I was just looking at Superior Access again (a business platform like the Noodle) and you can't bind through them...Superior Access told me they have very large agencies writing through them for years before they go direct, maybe this is my route...SIAA and Smart Choice, they all want to own you with a non compete..Maybe binding isn't as important as some say, but maybe it is. Why are there so many opinions on P and C binding?

 

[djs]

I assume he means Noodle is adding a Point of Sale system, not actual binding authority. I've talked to a few places that have this on their radar.

Basically, if it passes all the automated underwriting guidelines, the system will bind the risk automatically. Fail a test, it goes to pending.

Not sure, I haven't looked at Noodle recently, but I just dropped Superior (again) due to the (lack of) speed of their system. They cost me to much business. I'd rather say no upfront than deal with a week to bind a simple house policy.

Dan

 

[bill777]

I assume he means Noodle is adding a Point of Sale system, not actual binding authority. I've talked to a few places that have this on their radar.

Basically, if it passes all the automated underwriting guidelines, the system will bind the risk automatically. Fail a test, it goes to pending.

Not sure, I haven't looked at Noodle recently, but I just dropped Superior (again) due to the (lack of) speed of their system. They cost me to much business. I'd rather say no upfront than deal with a week to bind a simple house policy.

Dan

the new noodle 2.0 has a 2 year non compete also
smart choice was a big dissapointment as they said to get you ppointed with travelers you need a book of business 2 years experience etc. and if i get that i can get them on my own why go through them???
they tried to get me an appointment with non standards like infinity and foremost which i can get on my own too but not interested cause progressive gets them beat.

 

[Guest]

Dude, not to be mean, but hell, they all will have a non compete!

 

[djs]

Made me go look. I don't see a non-compete in the Insurance noodle agreement. I might have missed it, but to be honest, it doesn't make sense for a company like insurance noodle to have a non-compete.

Dan

 

[bill777]

Made me go look. I don't see a non-compete in the Insurance noodle agreement. I might have missed it, but to be honest, it doesn't make sense for a company like insurance noodle to have a non-compete.

Dan

it has it on the new contract for noodle 2.0 that gives access to 1-5 min almost instant quotes for commercial lines, for personal lines instant quote they say they'll have it by the end of 2011.

 

[djs]

Interesting, but the word 'compete' is not in their terms of use anywhere I could find. Couldn't find similar terms either.

I wonder if they change it by state or change it based on how you enter the system. A non-compete for an aggregator seems like a strange way to do business to me, especially since they claim you own the business.

I'm not denying its in there somewhere, I just couldn't find it. I might need to spend more time reading their terms, or maybe they slip it in later.


Dan

 

[HealthGuy]

Is the Noodle non compete only for commercial lines companies? I don't understand, sorry.

 

[bill777]

Is the Noodle non compete only for commercial lines companies? I don't understand, sorry.

"9.7​

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The Agency represents and warrants that it shall not seek, apply for or accept an appointment to
act as an agent, producer or broker for any of the INSURANCENOODLE or Crump Platform Carriers
during the term of this Agreement and for the period of two (2) years following the termination of this​

Agreement."

i guess they got smart enough not to say non compete but rather specify the terms lol.