P&C startup in PA
- Thread starter Noby
- Start date
BADTROUT
Guru
Transparency... I founded an agency network... we are not (currently) in PA but I would be happy to give you a few things to ask...
1. Do you have a non compete
2. What are the startup costs
3. What are the ongoing costs
4. What is the commission structure
5. Is there a share of the contingency?
6. If I leave, is there any exit fees?
7. If I leave, are there any restrictions?
8. Do you provide E&O?
9. Do I get to use my agency name?
10. Do I just get a login and password to your agency, or do I get a dedicated appointment?
11. Are commissions paid directly by the carrier, or are they paid to the network first.
12. Are you locked into a contract for a set number of years?
THEN... Ask to talk to the president of the company personally. I talk to each of our prospective member agencies, and I know network owners and upper-level management with nearly a half a billion in written premium and over 400 agencies that take the opportunity and time to speak with their member agencies. I'm not talking about hours of time, it's unrealistic, but 5 or 10 min will explain a great deal about the culture of the agency group.
Once you have it narrowed down to a few, post the names and ask people to weigh in that have worked with them... Find a couple of their members and ask the candid yet direct questions.
1. Do you have a non compete
2. What are the startup costs
3. What are the ongoing costs
4. What is the commission structure
5. Is there a share of the contingency?
6. If I leave, is there any exit fees?
7. If I leave, are there any restrictions?
8. Do you provide E&O?
9. Do I get to use my agency name?
10. Do I just get a login and password to your agency, or do I get a dedicated appointment?
11. Are commissions paid directly by the carrier, or are they paid to the network first.
12. Are you locked into a contract for a set number of years?
THEN... Ask to talk to the president of the company personally. I talk to each of our prospective member agencies, and I know network owners and upper-level management with nearly a half a billion in written premium and over 400 agencies that take the opportunity and time to speak with their member agencies. I'm not talking about hours of time, it's unrealistic, but 5 or 10 min will explain a great deal about the culture of the agency group.
Once you have it narrowed down to a few, post the names and ask people to weigh in that have worked with them... Find a couple of their members and ask the candid yet direct questions.
- Thread starter
- #3
- 1,481
Voldico is good. Contact Premier group as well. PM me and I'll get you in touch with someone.
- Thread starter
- #5
Thank you, I will.
