Start Up Advice Needed

[coastalMS]

Coastal Market Advice Needed

New to the forum. Opening IA in Coastal Mississippi. Hoping to get some advice before I go off the rails in the wrong direction(s).

A little about me, I decided about a year ago after being laid off from a struggling/dying industry (for-profit edu), that I needed a new career path. After talking with some friends and extended family that are in the Ins biz, I decided it was something that may be a good fit. I was also contacted by State Farm recruiter, and went through that process.

To get my feet wet, I have been working in L&H, mostly payroll deduction (voluntary employee benefits) and some individual stuff as well. I have been successful, but feel P&C is where I want to be long term, and why not make the move sooner rather than later.

I have been working on getting all my ducks in a row, I now own a LLC that has an agency license, and I am ready to take the next steps.

I am looking at joining a cluster or MGA (doesn't appear direct appointments will happen) that can give me access to preferred auto and some home (wind exclusions), and placing the bulk of my homes with Non Admitted carriers.

I feel like I have a good marketing plan, and a target market, and feel really strong about the likely hood of obtaining the non-admit carriers, but don't know how competitive I will be without solid standard auto carriers. AND those seem impossible for an agency like mine to get directly.

What is important to me:
I want to own my own book and renewals, and maintain a good amount of control over how my business is run. I also want to cut down on any other hands in the cookie jar so to speak, unless the value of said cost is worth it!

I guess what I need suggestions on, or experiences with, MGAs/Clusters in MS, or in other coastal markets.
Any thoughts/suggestions in general would be great as well!

Thanks a ton!
Coastal

 

[coastalMS]

Crickets...????

Did I step out of line? Say something I shouldnt have? Or just too specific?

 

[VolAgent]

Too specific. Odds are there is no one on the forum from your area who has gone with a cluster or MGA.

Plenty of threads and discussions about clusters and MGAs though.

 

[Lopezshow]

Too specific. Odds are there is no one on the forum from your area who has gone with a cluster or MGA.

Plenty of threads and discussions about clusters and MGAs though.

I'm in CA and I went the direct appointment route as our agency 1st birthday comes up in the beginning of Feb. I had a solid business plan and everything set up neat and I got lucky and got an Allied Insurance appointment as well as some non standards. It depends man if you reach the right company at the right time you just might get lucky. In my case I prayed with some other members in my church and I had favor and got most appointments with ease.

Once you build a couple hundred thousand or even 150k worth of business in Auto and Home some preferred carriers would be interested in you.

 

[VolAgent]

I'm in CA and I went the direct appointment route as our agency 1st birthday comes up in the beginning of Feb. I had a solid business plan and everything set up neat and I got lucky and got an Allied Insurance appointment as well as some non standards. It depends man if you reach the right company at the right time you just might get lucky. In my case I prayed with some other members in my church and I had favor and got most appointments with ease.

Once you build a couple hundred thousand or even 150k worth of business in Auto and Home some preferred carriers would be interested in you.

I'm glad it worked out for you. I have a friend in California that couldn't even find a decent cluster to join. He was a captive agent and wanted to go independent. In his area at the time, some years ago, appointments, even through clusters, were next to impossible.

 

[Lopezshow]

I'm glad it worked out for you. I have a friend in California that couldn't even find a decent cluster to join. He was a captive agent and wanted to go independent. In his area at the time, some years ago, appointments, even through clusters, were next to impossible.

Yea it is hard at first and honestly that Allied appointment really made it for our agency because I don't think things would be as great as they are now without it. I think your business plan is the main thing and once you talk to them know what you are doing show them you research research research and strive to be profitable for them.

 

[indienoise]

Yea it is hard at first and honestly that Allied appointment really made it for our agency because I don't think things would be as great as they are now without it. I think your business plan is the main thing and once you talk to them know what you are doing show them you research research research and strive to be profitable for them.

Does Allied really have as large a commitment as I've heard?
I left a Nationwide agency 2 years ago to start my IA, so I know they'd be a good fit, I just know I couldn't guarantee them the kind of volume I've heard rumored they want.

 

[coastalMS]

Well I thank yall for taking a look!

I am forging ahead, applying to an Aggregator this week (Integra - anyone have any info good or bad on Integra???).

Any recommendations for quality regional carriers in South East for home and auto?

 

[todd02]

Well I thank yall for taking a look!

I am forging ahead, applying to an Aggregator this week (Integra - anyone have any info good or bad on Integra???).

Any recommendations for quality regional carriers in South East for home and auto?

Make sure you sign a contract where you own your policies.

 

[KenP]

Direct appointments can be fickle. I know you want to keep hands out of the cookie jar, but strategic alliances/clusters will probably be impossible to go without