MGA Questions

[emery011]

So I think Ive decided to stay away from the captive scene from the start. Since Ive decided to look elsewhere Ive been researching a couple of MGA's, mainly insurance noodle and Superior Access. Would you recommend one over the other? I plan on marketing directly towards auto dealership customers (I have 10+ years experience in auto finance). With that in mind, I'm concerned that both of the MGA options could be too slow for me to do P&C work.
I'm sure I could talk to some independent agencies and work with them as well. Im just not sure what the right move would be for a new insurance agent who thinks he's better than he really is. I know Ive got a TON to learn in the business. Thanks in advance for any constructive criticism.
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ok let me rephrase my question. If I wanted to open a p&c agency I would have to use a company like insurance noodle or superior access if I dont have a book of business to transfer over. Is this correct? If that is the case, my next question would be how long I would have to use these companies until I can become appointed? I just dont know how big a book of business needs to be before I can become appointed directly.

 

[chakote]

I have both and if you can wait one to two days for a quote, then it will work. Honestly, I am not impressed with either but it is a cheap way to get started.

 

[moeasadi]

"how big a book of business needs to be before I can become appointed directly. "

I was interviewed by Hartfod today, they requite 250K written premium with favorable loss ratio and 3 years experience to consider any agency for appointment.
My PL is 160K, so I did not qualify.

 

[emery011]

I was interviewed by Hartfod today, they requite 250K written premium with favorable loss ratio and 3 years experience to consider any agency for appointment.
My PL is 160K, so I did not qualify.

Thanks very much for the reply. Thats very helpful. Sorry to hear you didnt qualify.

 

[molecules32]

Try regional carriers. There are some that are very reputable and requirements are lower to get direct appointments.

 

[popeye35]

Try regional carriers. There are some that are very reputable and requirements are lower to get direct appointments.

How do you find these? I am in Oklahoma and having trouble finding one.

 

[tinybro]

Good morning--I'm a newbie so bear with me. In the Noertheast, where I'm from, carriers would typically want $200K+ in premium & a 2-3 year track record before making a direct apointment. It seems counterintitive, carriers aren't the brightest--but that's how they work. Are most of you posters from the South & West--I see very few NE folks here-anybody there?

 

[jamis0n]

google automotive risk managers... they are an mga who do auto industry related businesses exclusively

 

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