Todd Payne
Expert
- 77
Most companies 15% new and renewal, and one at 20 & 20. Direct appointments with all of them. Potential for contingency bonus if loss ratio is good.
- Thread starter
- #12
G
Guest
Guest
Gman.....
I understand your position, and agree to a point. If you have been an IA for a while, it was easier to get appts a few years ago, When I was at Farmers, we had a true IA next door who didnt belong to any clusters.
Before I joined SIAA, I did call most of the carriers, some want $1,000,000 in premium before they even call you back, and yes their first question is how much premium do you currently have, we also want loss runs for the last 5 years and how much of a book can you roll over to us immediately???
Now the guy next door cant get some of my carriers and I will kick his ass on rate everytime, I just have more options and better choices than he does, but he still does very well where he is and he is happy with it.
Now, AAA will not appoint an agent who is part of a cluster, I have a few companies who will not appt an agent unless they are part of the cluster. So it goes both ways.
Personally, nowadays, I dont think there is an option but to join.
Now with SIAA, they have to approve you, background checks, credit reports, etc. They wont take anyone. There standards are higher than the carriers, which is nice.
With SIAA, I have all the carrier codes IN MY NAME, which means I have binding authority myself, the carriers pay me, not SIAA.
SIAA has a new lead generation website, that is free for us.
We also have the option to go out and get other companies who are not part of the SIAA group.
We are starting to get special phone numbers to teh U/W, wait time are much less and seems like we get preferential treatment from them.
And to be honest, getting all these carriers, painless, no stress or anything, and they really arent enforcing prodcution requirements with us.
I understand your position, and agree to a point. If you have been an IA for a while, it was easier to get appts a few years ago, When I was at Farmers, we had a true IA next door who didnt belong to any clusters.
Before I joined SIAA, I did call most of the carriers, some want $1,000,000 in premium before they even call you back, and yes their first question is how much premium do you currently have, we also want loss runs for the last 5 years and how much of a book can you roll over to us immediately???
Now the guy next door cant get some of my carriers and I will kick his ass on rate everytime, I just have more options and better choices than he does, but he still does very well where he is and he is happy with it.
Now, AAA will not appoint an agent who is part of a cluster, I have a few companies who will not appt an agent unless they are part of the cluster. So it goes both ways.
Personally, nowadays, I dont think there is an option but to join.
Now with SIAA, they have to approve you, background checks, credit reports, etc. They wont take anyone. There standards are higher than the carriers, which is nice.
With SIAA, I have all the carrier codes IN MY NAME, which means I have binding authority myself, the carriers pay me, not SIAA.
SIAA has a new lead generation website, that is free for us.
We also have the option to go out and get other companies who are not part of the SIAA group.
We are starting to get special phone numbers to teh U/W, wait time are much less and seems like we get preferential treatment from them.
And to be honest, getting all these carriers, painless, no stress or anything, and they really arent enforcing prodcution requirements with us.
- 322
This thread while started on commission percentages, has veered off to cluster or no cluster..but for me just want to say GREAT thread and posts from gman and RBA. Being a captive agent, my office will be closing and essentially if I go scratch there will be no option to me available other than a cluster..especially in my zone/state. I agree with what gman is saying to an extent..but just like all of us in the captive world we have a saying..."we should be the last agent they ever appoint" When you're starting off as a training agent, you figure anywhere you go is just as good..does'nt matter about the agent that's been there or a few miles down the road from you. Once your in place and hear their putting a training agent in there before you...you're like what the hell another agent in this area? how many more are they going to pack into a 1 mile radius...It somewhat translates into the dilution of the product/brand/agency that I think gman is talking about....but what volagent says is correct...how the heck else does someone starting off in 2011 start an agency?
That being said, that's why I'm looking at purchasing a book of business, an indy that's not part of a cluster...something that will start off with revenues and appointments. Coming from the captive world, the cluster idea raises the hairs on the back of my neck. The fact that SIAA has to approve of who you would want to sell your agency with is enough for me to not want to go with them. (although I may not have another choice) Being able to get appointments outside of their network though definately does show some free range.
Now there are some different type of clusters out there, right? as in smaller less obtrusive clusters...as a PL P&C shop wanting to offer Life and Health...I wouldnt see anything wrong with joining a cluster for life companies that gets you appointed with all the life companies in one shot...just makes things quick and easier.
That being said, that's why I'm looking at purchasing a book of business, an indy that's not part of a cluster...something that will start off with revenues and appointments. Coming from the captive world, the cluster idea raises the hairs on the back of my neck. The fact that SIAA has to approve of who you would want to sell your agency with is enough for me to not want to go with them. (although I may not have another choice) Being able to get appointments outside of their network though definately does show some free range.
Now there are some different type of clusters out there, right? as in smaller less obtrusive clusters...as a PL P&C shop wanting to offer Life and Health...I wouldnt see anything wrong with joining a cluster for life companies that gets you appointed with all the life companies in one shot...just makes things quick and easier.
- Thread starter
- #14
G
Guest
Guest
Infoe,
SIAA wants to approve who you sell to for the simple reason, SIAA has the relationship with the carriers, so they want to make sure everyone qualifies. For instance, they dont want you selling to some newbie who has never been in insurance before.
SIAA wants to approve who you sell to for the simple reason, SIAA has the relationship with the carriers, so they want to make sure everyone qualifies. For instance, they dont want you selling to some newbie who has never been in insurance before.
- 415
I understand it is near about impossible to start scratch without the cluster appointments I don't blame anyone for going that route. It is the carriers I have a problem with allowing it but they want all of that business.
Infoe You can check out Iroquois group, and smart choice too. I am sure there are others.
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By the way I am terrible for hijacking threads! lol
Infoe You can check out Iroquois group, and smart choice too. I am sure there are others.
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By the way I am terrible for hijacking threads! lol
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- Thread starter
- #16
G
Guest
Guest
in Arizona, there are only about 40 SIAA agents statewide, so really, that isnt many.
When I was at Farmers, we did a find a agent at farmers.com, within 6 miles of my office, there were 31 agents...
I always said, my biggest competition as a Farmers agent, was, well a Farmers agent.....
When I was at Farmers, we did a find a agent at farmers.com, within 6 miles of my office, there were 31 agents...
I always said, my biggest competition as a Farmers agent, was, well a Farmers agent.....
- 322
Haven't done research on Iroquois group but I see from forums that smartchoice there is no binding authority...does'nt look like a good option...SIAA will be my second choice, Hoping to find a BOB that would be a good deal to buy.
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