SmartChoice?? Anyone Done Business Under them

[Mehler91]

I am considering going independent and have been referred to this group as a potential way to start up with a handful of P&C carriers.

Anyone dealt with them? Seems to basically have a 70/30 split on commissions which I'm not crazy about.
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Just saw a thread on here about someone else going with them.

Not crazy about not having monoline availability and splitting commissions so I may pass.

 

[ngcsu2477]

I am considering going independent and have been referred to this group as a potential way to start up with a handful of P&C carriers.

Anyone dealt with them? Seems to basically have a 70/30 split on commissions which I'm not crazy about.
- - - - - - - - - - - - - - - - - -
Just saw a thread on here about someone else going with them.

Not crazy about not having monoline availability and splitting commissions so I may pass.

I'm looking to start my own brokerage and am considering SmartChoice too. My main question relates to the "divorce" clause. In other words, will if I write business thru SmartChoice, am I forever required to pay 30% commissions to them?

 

[CaptiveBroke(r)]

They used to be touted on the Allstate agent yahoo group "Running Clock" (for agents preparing for Plan B) a couple of years ago.

Don't have any updates as the group really has no comments
lately

 

[PhilL]

Use the "search" icon in the blue line and enter "Smartchoice" and you will find quite a bit of discussion about them from the Forum Members.

I am considering going independent and have been referred to this group as a potential way to start up with a handful of P&C carriers.

Anyone dealt with them? Seems to basically have a 70/30 split on commissions which I'm not crazy about.
- - - - - - - - - - - - - - - - - -
Just saw a thread on here about someone else going with them.

Not crazy about not having monoline availability and splitting commissions so I may pass.

 

[VolAgent]

I am considering going independent and have been referred to this group as a potential way to start up with a handful of P&C carriers.

Anyone dealt with them? Seems to basically have a 70/30 split on commissions which I'm not crazy about.
- - - - - - - - - - - - - - - - - -
Just saw a thread on here about someone else going with them.

Not crazy about not having monoline availability and splitting commissions so I may pass.

I can't speak to Smartchoice in particular, but every cluster is going to take part of your commission. If splitting commissions is a deal breaker for you, you need to go direct and realize it will be extremely hard to get direct appointments.

There is a price to getting access to carriers, and that is giving up commission. Override or commission splits, either way you are giving up some commission for the access.

 

[RachelMc55]

I am considering going independent and have been referred to this group as a potential way to start up with a handful of P&C carriers.

Anyone dealt with them? Seems to basically have a 70/30 split on commissions which I'm not crazy about.
- - - - - - - - - - - - - - - - - -
Just saw a thread on here about someone else going with them.

Not crazy about not having monoline availability and splitting commissions so I may pass.

I don't know if it differs by state, but definitely be sure you are looking into their exit clause. I know a few agents that have left them in the past, and they were blocked from the markets they were accessing through Smartchoice for a period of time, I believe it was 18 months.

 

[VolAgent]

I don't know if it differs by state, but definitely be sure you are looking into their exit clause. I know a few agents that have left them in the past, and they were blocked from the markets they were accessing through Smartchoice for a period of time, I believe it was 18 months.

Every cluster I've looked at has had either required a buyout or blocked you from the carriers you accessed through the cluster for a period of time after you leave.

No one is looking to be your stepping stone. They want someone who is going to be with them for a while and produce some business. Once you get too big for them then it is time to part ways.

 

[Mehler91]

I expect to give something up but I also read that there is no binding authority with them up front and quotes can take up to 24 hours to get back. I don't like that.

 

[b61mack]

I almost signed with them, but they did not have enough carriers in pa, they are ok,70/30, up to i think 155k . divorce clause is two years, you can't write with the carriers you wrote with them. look at your local SIAA. Run from gobal green.

 

[AgencyEquity]

They used to be touted on the Allstate agent yahoo group "Running Clock" (for agents preparing for Plan B) a couple of years ago.

Don't have any updates as the group really has no comments
lately

I don't know much about this organization, but anyone going independent should exercise their options in the marketplace, my site includes a directory of over 100 of these types of groups, from clusters to franchises, each state has approximately 20 of these types of groups, so you have a lot of choices. You can a complete listing by going to:
Insurance Agency Clusters & Alliances | AgencyEquity.com