P and C Masters: Really Own Your Biz?

[infoe]

i tried to sign up with smartchoice but they require some experience and book of business to get you appointments with travelers or safeco, then i read on this thread it's the same with siaa only siaa won't take at all new agents.
my question is if you already have experience and a book of business what's the point of going through them???

That's the million dollar question....some carriers, especially in Florida are contracting and pulling contracts...The answer I hear alot is that some carriers won't appoint you unless you are part of a cluster (somewhat of a proven system)

The alternative is start with just a few carriers (not the prime ones, where you would assumably have a hard time placing or being competative) and just continue to be on the carriers scratching and clawing for them to appoint you.

I asked myself that same question Bill

 

[CaptiveGuy]

Infoe- I tried calling you earlier but it just kept ringing can you double check if the cell number you sent me was correct?

You are right though it's a catch 22. Most of the clusters cater to agents who were captive for a few years I don't know of any that give binding authority for newly licensed agents.

I think some smaller agencies with direct appointments benefit from joining clusters but I can't see anyone that was producing with direct contracts deciding to join one but who knows. As far as new agents, the best bet is to work for an agency and work out an agreement where you can take your book (not likely) or use Superior Access or Noodle for a few years.

Yes I said it as much as it's bashed here there may be no other way around it for the first few years. Build your book with no binding authority then roll it to a cluster or direct appts. There is no easy way in p&c. I'm just glad I got a regional to appoint me and I have non-standard companies to complement it.

 

[Sales71]

That's the million dollar question....some carriers, especially in Florida are contracting and pulling contracts...The answer I hear alot is that some carriers won't appoint you unless you are part of a cluster (somewhat of a proven system)

The alternative is start with just a few carriers (not the prime ones, where you would assumably have a hard time placing or being competative) and just continue to be on the carriers scratching and clawing for them to appoint you.

I asked myself that same question Bill

Million Dollar Answer work for a broker and build your book and then join a group if you like. Its only an option.

 

[djs]

The problem is, with many carriers it is virtually IMPOSSIBLE to get appointments. The only way to do it is to have a big book of business with a proven system and low loss ratios. Even then, they do try to protect their current agents.

Clusters, by effectively having HUGE books of business have a lot more pull to get you those appointments.

You do not need to do it this way. You can, of course, simply get appointed with those you can and use an aggragator (Superior Access, Insurance Noodle, several others) for the ones you can't get. This will lead to some lost business, a painful process for writing business, but, ultimately, a bit cheaper, albeit, perhaps some reduced income as well.

Dan

 

[Sales71]

I will join a group next year.

 

[GAHEALTH]

I will join a group next year.

So if you are a new agent to P&C, say adding it to your business offerings as a compliment, how does one go about offering and getting appointed? Already doing Life and am considering P&C to get some residuals going.

 

[Ins ForCali]

Infoe-
... Most of the clusters cater to agents who were captive for a few years I don't know of any that give binding authority for newly licensed agents.

I think some smaller agencies with direct appointments benefit from joining clusters but I can't see anyone that was producing with direct contracts deciding to join one but who knows. As far as new agents, the best bet is to work for an agency and work out an agreement where you can take your book (not likely) or use Superior Access or Noodle for a few years....

I am a producer for I/A with a good book of business that belongs to the agency I am working for. I started working for that agency 8 years ago and have tremendous amount of experience.
Now I am planning to finally open my own agency. The difficulty i am facing now is that no cluster will get me a direct appointments until I have certain amount in my book under my new agency. I will have to pay same monthly and entry fees and be under their affiliates program, which simply means to quote and bind through their MGA. And, some of the recruiters admitted that it could be big pain in the butt..

After learning this, I decided that I should better go through a wholesaler. However, I don't know any good once... I have experience working with Superior Access, PIA and some others. My main concern is not only their turn around time, but is that they don't run Reports (MVR and Clue) until you request binding with all signed applications and payment info. Then, a lot of times, premium changes and you have to re-submit for a quote with a different carrier, which again might take a day or so to get another quote back. Meanwhile, the client who already agreed to pay certain amount, signed all paperwork and waiting for a proof of insurance might just turn away and never come back... Same as a possible referrals you would get from him and his circle.

With this being sad, do you, Guru's of this forum and insurance business can recommend me any good GA for personal lines, with decent turn around time and where I will get quote ready to bind with all records and other info verified?

 

[Mike Siegal]

Good thread...thanks!