Pros vs Cons of Being a Producer at National Brokerage, MGA, Cluster

[d-f-0406]

I'm currently trying to switch insurance careers from life and health to P&C. I have some referrals and cross-selling opportunities from my current life and health book. However, the lead/business flow (mainly personal lines) wouldn't be enough to sustain in the first two years, which may not make sense to work with an aggregator/cluster such as SIAA due to the ongoing fees. Also, I heard national brokers such as USI, would provide leads for the producer, which seems attractive to start the business with some lead flow complemented with current life and health cross-sell and referral opportunities.

What are the some of the commission structures, renewals, career outlook, and whether if I can keep my book of business with national brokerages?

I'm hoping to continue to expand and develop my high net worth clientele and move into commercial.

 

[EugeneM]

USI would be an amazing start lol. You are going from zero to hero right there. They are one of the largest as far as volume is concerned. Especially if they will train you in commercial. You bring the leads, they train you and have really good market access... sounds like a good fit. You can always transition to owning your own book down the line. Sounds to me you just need to get your feet wet and be able to write your health clients p&c lines without making mistakes and burning the bridge. Training I think is more important here than yield.

 

[Jason Henderson]

USI would be a good start, lower commission than a small agency though. The problem with smaller agencies is they are probably not going to train you as much and market access could be an issue. I’d go with a bigger agency, I’d rather make less on accounts rather than not get them because i don’t have carriers! If you can find a good sized regional agency or large sized local agency that would probably be the best option.

I'm currently trying to switch insurance careers from life and health to P&C. I have some referrals and cross-selling opportunities from my current life and health book. However, the lead/business flow (mainly personal lines) wouldn't be enough to sustain in the first two years, which may not make sense to work with an aggregator/cluster such as SIAA due to the ongoing fees. Also, I heard national brokers such as USI, would provide leads for the producer, which seems attractive to start the business with some lead flow complemented with current life and health cross-sell and referral opportunities.

What are the some of the commission structures, renewals, career outlook, and whether if I can keep my book of business with national brokerages?

I'm hoping to continue to expand and develop my high net worth clientele and move into commercial.

 

[d-f-0406]

which regional agency and local agency would you recommend that is in los angeles? Also, how difficult is it to get in the larger brokerages such as USI, Aon, Marsh, Gallagher, or Hub?

 

[EugeneM]

Hub Marsh AJG AON etc tend to grow by acquisition, they hire you to move your existing relationships/book as opposed to grow organically from scratch. You mentioned you had health clients. What industries are they in? Keep the end game in mind, get with an agency that aligns with your connections. Would suck to do all that work and not be competitive at the end of the day. If you can get the business on the books down the line you can worry about yield etc after you have developed the volume/ carrier relationships.

RSI writes a lot of transportation... RSI Insurance | Simplified Insurance Solutions
Heffernan is well rounded same with Arroyo https://www.arroyoins.com
Frankel is strong with white collar lawyers E&O etc Top Insurance Brokers | Frankel & Associates Insurance Services
Santa Monica Insurance Brokers – Los Angeles Insurance Quotes | Tegner-Miller Insurance Brokers

Lot of great brokerages in LA. Having existing health clients that you can move and cross sell commercial really helps.

 

[d-f-0406]

thank you Eugene!! I was doing some research but would love your feedback on which P&C brokerage that is large and can allow me to develop bigger commercial accounts but would also write foreign national and local small businesses? Since most of my book needs that right now and are hard to place

 

[d-f-0406]

if lets say my current book are all small business, would you focus on selling P&C or employee benefits? and why?

 

[EugeneM]

Il DM you