SIAA Requirements

[nyc2phi]

As a captive agent that would eventually be interested in going independent and working with a cluster like SIAA, what kind of requirements do they ask for besides up front costs. I've searched their site and found a lot of great programs but no fine print.

Also I guess it seems that SIAA has a bunch of subsidiaries that are custom tailored to different locations, just wondering if the requirements are different for each subsidiary.

 

[NCAgent]

As a captive agent that would eventually be interested in going independent and working with a cluster like SIAA, what kind of requirements do they ask for besides up front costs. I've searched their site and found a lot of great programs but no fine print.

Also I guess it seems that SIAA has a bunch of subsidiaries that are custom tailored to different locations, just wondering if the requirements are different for each subsidiary.

You aren't going to see a lot about SIAA because they make people sign non-disclosures so we don't tell everything.

But they do have montly costs and up front costs and carriers still want production requirements. I think that you're better off going somewhere else, personally, unless you intend to be MARRIED to them forever.

I also don't have a good feel for the SIAA rep in my area, which could be part of it Some of my carrier reps also feel that the SIAA agreement is kinda bogus (though they won't say it officially, of course)

 

[djs]

Best thing to do is to sit down with the rep and talk it over. Each one is a bit different.

In general though:
- They want some experience, not rookies off the street
- Decent loss ratios
- A viable business plan
- Production history

In my conversations with them, its actually easier than getting appointed with carriers directly yourself, with a slightly lower bar to make it happen. A requirements list probably makes it sound worse than it is, since if you've gotten appointed with any companies, they probably asked for the same stuff.

Dan

 

[MJFINSURANCE]

S.I.A.A. Member and also have non disclosure. You must discuss with your local Master Agent for their schedule of fees. We have many agencies in the S.I.A.A. With varying years of experience so it can be a good fit for almost any agency. Research your opportunities but S.I.A.A. Is one of the better organizations if you choose to go in that direction.

 

[AgencyEquity]

I would rether join a group that has requirements and minimum standards than a group that allows anyone who can write a check. Group taht have requirements are the best groups because they are underwriting their members and as a result better underwriting results and profitability which ends up helping their members. The last thing these groups want is agencies that produce high loss ratios, also member agencies need to meet financial obligations of membership.