Start-up who Needs Some Guidance

[BuckeyeIns]

Hello... I am new here.

I know this has been asked plenty of times, but hopefully you guys can help me out in my particular situation.

I am currently part of a family business that focuses on tax preparation and bookkeeping for small business. Al together we have just under 1000 clients.
I am hoping to transition some of our current clientele into policies with me.

I am trying to get appointed by a carrier. At this point any carrier. I do not have a book to rollover which I know is going to prevent a lot of carriers from looking twice at me.

I have read that non-standard carriers are more responsive to start-ups. So I have targeted Progressive and Foremost.

I really don't want to have to join a cluster or other alternative. Most of what I have read is negative. (please correct me if I'm wrong)

Any and all pointers are more than welcome.

 

[indienoise]

Progressive and Foremost are fine for the specific markets they target, but they may or may not fit your clientele.
Yes, there are downsides to joining a group or cluster, but there can be advantages too - and if you don't have experience, you almost certainly need the support of a group, or to work under an existing agency before trying to open your own.

 

[BuckeyeIns]

Indie - thanks for the response.

I live in Ohio, are there any clusters that are recommended for the area?

Thanks

 

[marindependent]

Im not sure that suggesting non standard carriers to past and current clients of yours is the best idea.

What is the matter with offering them best in class preferred carriers through an wholesaler? Sure you will be paid less, but since it sounds like this is a new business model for you, you can ask the wholesaler most the initial set up of questions about "How do I do this?"

 

[BuckeyeIns]

Marin - If I join a wholesaler I don't keep my own book right?

The are of town we are in, I feel fairly confident I will right a fair number of SR-22s along with more policies that have multiple claims or tickets against them.

 

[Schwetty]

joining a cluster will give you access to more preferred company options, however you may have a hard time gaining those appointments without any experience.


You might be able to work out an agreement with another agent who might want a satellite agency in your area at a faiir commission split. Probably the fastest way to get up and running but not without its drawbacks.

Good Luck!

 

[indienoise]

joining a cluster will give you access to more preferred company options, however you may have a hard time gaining those appointments without any experience.


You might be able to work out an agreement with another agent who might want a satellite agency in your area at a faiir commission split. Probably the fastest way to get up and running but not without its drawbacks.

Good Luck!

This is how I got started, actually. Captive agency about 20 miles from me needed a 2nd location to get enhanced commission. I needed products to sell and someone to help me learn what to do. Spent a couple years working this way before parting ways to go indy.

Wholesalers are fine and most will let you roll your book without penalty, but typically will have their own guidelines, more strict than the carriers. This could leave you with no market for your middle of the road, standard accounts. Been there, done that. It sucks.

 

[Laur818]

Hello... I am new here.

I know this has been asked plenty of times, but hopefully you guys can help me out in my particular situation.

I am currently part of a family business that focuses on tax preparation and bookkeeping for small business. Al together we have just under 1000 clients.
I am hoping to transition some of our current clientele into policies with me.

I am trying to get appointed by a carrier. At this point any carrier. I do not have a book to rollover which I know is going to prevent a lot of carriers from looking twice at me.

I have read that non-standard carriers are more responsive to start-ups. So I have targeted Progressive and Foremost.

I really don't want to have to join a cluster or other alternative. Most of what I have read is negative. (please correct me if I'm wrong)

Any and all pointers are more than welcome.

Farmers enlisted me to start up an agency and I had 0 experience in insurance sales! Try them... they aren't as bad as some people say... I'm just nervous about the fact that how I went in I started with a loan and only make commissions. Hope this helps!

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Progressive and Foremost are fine for the specific markets they target, but they may or may not fit your clientele.
Yes, there are downsides to joining a group or cluster, but there can be advantages too - and if you don't have experience, you almost certainly need the support of a group, or to work under an existing agency before trying to open your own.

Foremost is owned by Farmers so wouldn't you need to get appointed with Farmers to be appointed with Foremost?

 

[ElToro]

Most IA's have Foremost, and we make more commission per policy with them compared to a Farmers agent. All the best to you, but one day the Farmers Koolaid will not taste so good.

 

[indienoise]

Encompass is owned by allstate
Allied is owned by nationwide
In a few southern states, we have an indie carrier named haulers which is owned by shelter
Safeco is owned by liberty mutual
Guard is owned by Berkshire Hathaway
See a pattern here?