Sorry guys, as I said, we don't make it easy. I covered a lot of ground in that last post. And while it makes perfect sense to those who have lived it, I may have taken liberties and made connections you couldn't follow.
Maybe a different way. I'll keep it just to the relationship between the two entities and to prevent confusion, no names.
For clarity, I'll play fast with the details. E.G. The sky is always blue.
We all know that the sky is blue, but sometimes there are white clouds and sometimes it is totally gray or even black.
I'm a former Independent Agent (IA) who moved to the agency management vendor side 15 years ago. During that time I ran a comparative rating vendor.
Later, working for a business providing websites and digital marketing services to agencies.
The Big I heard about us and interviewed and hired us to lead a project called Consumer Agent Portal, an effort to stop erosion of P/L market share of IAs. Today we are technologists running our own company managing a website that is focused on limiting share loss by connecting insurance consumers to IAs.
Association people are not agents. They don't sell insurance. They manage associations to provide member benefits. They also are not technologists adept at digital marketing,SEO and web development etc.
So the association hired a tech firm (us) to build a Newco (placeholder name for clarity) to develop and run a website that provides comparative rating to consumers and get consumers to IAs.
As the business plan for the Newco developed, additional investors were needed for the venture. At present 9 insurance companies are investors in the Newco. At this point the association is just one of 10 investors in Newco.
The Newco is completely independent from the association, housed in Minneapolis (vs DC) and the employees of the Newco are NOT employed by the association.
Although there is plenty more in my previous post that I'm not addressing, does this clarify the relationship between two different entities?
Maybe a different way. I'll keep it just to the relationship between the two entities and to prevent confusion, no names.
For clarity, I'll play fast with the details. E.G. The sky is always blue.
We all know that the sky is blue, but sometimes there are white clouds and sometimes it is totally gray or even black.
I'm a former Independent Agent (IA) who moved to the agency management vendor side 15 years ago. During that time I ran a comparative rating vendor.
Later, working for a business providing websites and digital marketing services to agencies.
The Big I heard about us and interviewed and hired us to lead a project called Consumer Agent Portal, an effort to stop erosion of P/L market share of IAs. Today we are technologists running our own company managing a website that is focused on limiting share loss by connecting insurance consumers to IAs.
Association people are not agents. They don't sell insurance. They manage associations to provide member benefits. They also are not technologists adept at digital marketing,SEO and web development etc.
So the association hired a tech firm (us) to build a Newco (placeholder name for clarity) to develop and run a website that provides comparative rating to consumers and get consumers to IAs.
As the business plan for the Newco developed, additional investors were needed for the venture. At present 9 insurance companies are investors in the Newco. At this point the association is just one of 10 investors in Newco.
The Newco is completely independent from the association, housed in Minneapolis (vs DC) and the employees of the Newco are NOT employed by the association.
Although there is plenty more in my previous post that I'm not addressing, does this clarify the relationship between two different entities?
