The Industry is Changing Quickly

[Life Hawk]

I don't know if the hierarchy can be protected. I wonder what would happen if every carrier offered efes managers the imo lever contact? How many managers would take it? With my imo it's broken into 13 agencies. If each on got offered the same contract at the imo level I wonder how many would branch off. How loyal would any manager be to any imo?

I can see how some comp might be raised. If the guy on top is taking such a big spread. And doesn't need it anymore because of the commission share going on with Integrity, they might raise contracts. None of the carriers I've talked to have mentioned integrity having a contract. And I've never seen them on a newsletter.

The only thing I have ever heard from a carrier about integrity is "well, we can't control who you want us to send your check to"

I have 2 direct contracts that are leads in the business I do... this is the sort of talk that makes me glad to have them. I don't quite care for the illusion of being independent.

 

[HoosierLife]

I don't know if the hierarchy can be protected. I wonder what would happen if every carrier offered efes managers the imo lever contact? How many managers would take it? With my imo it's broken into 13 agencies. If each on got offered the same contract at the imo level I wonder how many would branch off. How loyal would any manager be to any imo?

I can see how some comp might be raised. If the guy on top is taking such a big spread. And doesn't need it anymore because of the commission share going on with Integrity, they might raise contracts. None of the carriers I've talked to have mentioned integrity having a contract. And I've never seen them on a newsletter.

The only thing I have ever heard from a carrier about integrity is "well, we can't control who you want us to send your check to"

Get the upline to sign something. Everyone talks about wanting to get releases pre-signed, but if you're going to build an agency, getting the upline to sign something protecting your downline hierarchy is just as, if not more important.

A stipulation that they can't reach down, in writing, would at least give you a leg to stand on if something happened.

My understanding with the Integrity deal is that the IMO owners get paid a 3x Net Revenue by Integrity but are required to invest 1x back into Integrity in exchange for a % of ownership based on the 1x number.

 

[GMDM100k]

Get the upline to sign something. Everyone talks about wanting to get releases pre-signed, but if you're going to build an agency, getting the upline to sign something protecting your downline hierarchy is just as, if not more important.

A stipulation that they can't reach down, in writing, would at least give you a leg to stand on if something happened.

My understanding with the Integrity deal is that the IMO owners get paid a 3x Net Revenue by Integrity but are required to invest 1x back into Integrity in exchange for a % of ownership based on the 1x number.

It wouldn't matter if your up signed something protecting your down line. If we're talking about a carrier dropping the imo head. They would be gone. You'd have to get something signed by the carrier in your contract.

And they never would. No smart upline would either. The more stipulations you have in their contacts the more we shift from independent contractors, to employees.

It's too great a liability for a carrier or an upline. As soon as someone got terminated they would sue for unemployment. And they would also ask for the same things as normal employees have. Like benefits. And paid vacation.

It would be a mess. They might as well have all the home office employees sell the policies. The whole reason they have it set up like this is to avoid the liability and cost. Why all of us independent insurance agents can be independent.

That's also what I've heard about some of the deals made with integrity also. But of course different based on their size. But I heard it all has to do with your checks being deposited in thier account. Like a big one check agency but with no contracts with the carriers.

 

[DonP]

I'm a little confused . Are you saying the Imo's are giving up their overrides and renewals they presently make and giving them to Integrity for a % ownership in the company and getting a return of revenue back?So its business as usual for every Imo bought by them?

 

[Baseball7]

Yup

 

[goillini52]

There are roughly 1 million insurance agents in America. Its reported that Integrity has 230,000 contracted agents.

I doubt that's accurate. They add up the # of agents contracted with each FMO.

If I have contracts with 3 of Integrity FMO's, do I count as 1 agent...or 3? I know they're the largest by far, but I'll bet the ACTUAL # of agents is about 1/2 of that.

 

[HoosierLife]

I'm a little confused . Are you saying the Imo's are giving up their overrides and renewals they presently make and giving them to Integrity for a % ownership in the company and getting a return of revenue back?So its business as usual for every Imo bought by them?

For now...

 

[DayTimer]

For now...

When are you selling out?

 

[Baseball7]

NASB has fallen to the Borg

 

[HoosierLife]

NASB has fallen to the Borg

Man how does that work when I know some of the IMOs they have their contracts through that are not under Integrity?