Iroquois Group

[saieddie]

Yes, SmartChoice helps you get direct carrier appointments and binding authority.

As far as rolling out a big enough book of business from Iroquois, I don't think that its as easy as you make out. We've tried negotiating w/Iroquois and the carrier directly to get a direct appointment. Iroquois won't let us move the book to a direct appointment because they lose a big piece of their premium base that gets them their contingency bonuses. The carrier is leery against going against Iroquois because they might lose all of Iroquois' business.

 

[InsuranceOnline]

I looked at Iroquois last year and had a copy of their contract to review. When you sign up they contract you with companies they think would be a good fit. But, they also have a central placement where they can place business for you outside those markets if you need (basically anywhere).
After reading the contract we decided against using them because the non-compete read way too loosely. I read it as any company they provided you access to, you cannot contact for 2 years. This would be any company you contract with through them and any company through the central placement facility...or any company they work with.
As an independent I want to remain independent and would recommend using other sources until you can build up a book to get direct appointments.
- - - - - - - - - - - - - - - - - -
I forgot. If you're looking for personal lines appointments, contact a couple of the comparative rater companies and ask for a demo. They know all the marketing reps for each of the companies and can tell you which ones would likely get you direct appointments and which companies are competitive right now.

You only need one company to start (look at Allstate, State Farm, etc they only have 1 company to sell). Once you start building a book you can position yourself to get direct contracts with other companies and you're not begging for the contract.

I started a scratch agency last year and when I called the reps I said, "I'm starting a new agency and want to talk with you about getting contracted. I'm not sure we can work together but I'd like to see if your company would be a good fit for what we're going to do."

I had 4 contracts in a week. It's about having a marketing plan, getting them to believe in you and positioning yourself as you don't need them. Because, you don't. You can get access to markets so easily today if one turns you down it's not the end of the world.

 

[mark4insurance]

Well said. I am setting my wife up in an independent agency in Florida ( I cannot because I am a captive agent) and have had no problem getting direct appointments with mercury, travelers, hartford, progressive and 10 Florida based home insurance companies (you need a lot in Florida as they go in and out of the market). No I couldnt get a Auto Owners appt but I could get most auto companies I wanted. The key is having a business plan and selling yourself and your plan. If I want to be indepent, I dont want to be under the control of another cluster/marketing,etc organization who will try to control me. Yes you may not get the best carriers upfront but soon if you work hard you will get some good ones and be truly independent.

 

[Soaringagent]

Great info here.

 

[FL P&C Broker]

Well said. I am setting my wife up in an independent agency in Florida ( I cannot because I am a captive agent) and have had no problem getting direct appointments with mercury, travelers, hartford, progressive and 10 Florida based home insurance companies (you need a lot in Florida as they go in and out of the market). No I couldnt get a Auto Owners appt but I could get most auto companies I wanted. The key is having a business plan and selling yourself and your plan. If I want to be indepent, I dont want to be under the control of another cluster/marketing,etc organization who will try to control me. Yes you may not get the best carriers upfront but soon if you work hard you will get some good ones and be truly independent.

All these companies appointed your wife with with no book and no experience?

 

[mark4insurance]

EDM,

This is a scratch agency I am setting up. My wife has had her 220 license for 15 years working in my agency. I do have an advantage in that they know I will be referring business to her new agency. However, the point is dont hesitate to contact these companies and try to get direct appointments. I see you are a Florida agent and you can get several HO appointment wwithout much problem ( Universal P + C will give to anyone. Also if you check FAIA you can get sub agency contracts with United P + C and Bankers which gives you access to BOP's. Also Progressive ie easy to get and they will write anything).

Good luck.

 

[gordy]

Hey guys,

This is a great website. I've gleamed a ton of info from you guy's. I am looking into starting a P&C brokerage in pa. I have prior insurance background as far as life and health but I am brand new in the P&C world.

I have my producers license and allot of contacts, what I don't have is any appointments. Any suggestions on which is the best way to start? My partner and I would like to be independent but if we have to go the way of being a captive agent to start we will consider it.

Thanks in advance, I appreciate any advice in this matter that you can give

 

[Calpirin]

Anyone know how much of the fee to joing Networked Insurance Agents and SIAA?

Are these companies allow a start up agent to join? (Start up but with expeirences from working under agency in past)

I appreciate so much if someone with an experience with these companies to post what is the criteria or requirement to join.

Thanks.

 

[larryc]

Just saw your question. I would by pass Iroquois and Smart Choice. Best bet is SIAA - Strategic Independent Agents Alliance. Iroquois and Smart Choice are like going for the "free lunch", there isn't one. SIAA shares bonuses and profit sharing on a national and local basis and you can receive 100% of commissions.

 

[bww143]

Anyone know what the Iriquois Group splits are? Could not find anything on their website. Thanks,