Which Agency Partnership Group/Aggregator/Clusters do you recommend? Not recommend?

[Insurance Girl 11]

I am not new to the business & sales world but I am a fairly new 2-20 insurance agent. I am exploring my options and partnering with a group seems like a good option. I would like to hear from those who have had experience (good or bad) with these types of associations. Thanks in advance for your input.

 

[Bill Blanchard]

I just re-started my career in the P&C world and went with Smart Choice. I live in MN and will write in Texas as well. Not sure what FL is like to write in, I know they have some unique coverage issues with Hurricane coverage. I like Smart Choice because I think their fee structure is fair. Nothing upfront, other than a $99 to start. Pay for your rater and that's it. For me, they were the way to go! Let me know if you have/need anything further. Best of luck!

 

[playball41]

Ive been looking at Smart Choice and Bolt any have any opionions please feel free to comment

 

[Bill Blanchard]

For me, Smart Choice offered great service, MANY wonderful companies, and very reasonable fees on the split so that you eventually earn 100% on premium written once you are over the threshold. What state you in playball41?

 

[shawnmwalker]

Insurers are dropping homeowners left and right. Many will be forced to accept less coverage - Orlando Sentinel

 

[shawnmwalker]

"Begin with the end in mind"- 7 habits of Highly effective people.

Decision #1:



What end of the Ins Spectrum do you want? if you answered P&C keep reading. If ''Other" wait for the others to respond



Decision #2: Captive or Independent.



Captive:

Pro: They will teach you a lot but inevitably you will go Indy at some point in your career. Another Pro, they will subsidize your life for a time.

Con: The District Manager will push too hard or force life on you or cut your commissions or change your contract, or, ext, ext. Your Captive will take rate increases and kill your production and you will have one price point while others dissect your book one policy at a time.



Independent: :

Pro: Control expenses. Get higher commission. Higher conversion. Higher retention. All of those factors equal more money.

Con: Starting out. Getting knowledge. Your personality type could sink yourself.



Decision #3:



Once you decide Indy is for you, in the next week or 22 yrs from now. The question will be how to do it. Your options include:



Buy an agency.

Join a group.

Become a producer for an agency.

Get direct appointments.

Get an agency that provides the back end service so you can hunt full time.



You decide which one is best for you.

 

[shawnmwalker]

What's Behind Florida's Soaring Home Insurance Rates? (mynews13.com)

 

[shawnmwalker]

Florida Consumers ‘Flabbergasted’ by Property Insurance Rate Hikes (insurancejournal.com)

• “Citizens issued 545,000 policies as of Feb. 5, a 23% increase from a year ago, and it expects the number to grow to about 700,000 by year-end, a spokesman said. The growth signals an unhealthy broader market by showing that typical coverage is not as widely available, industry experts said.”

• “Florida insurers requested 105 rate increases during the first ten months of 2020, Altmaier said. More than half of the increases that regulators approved were greater than 10%.”

• “Although there were no major weather events last year…Florida’s domestic property insurers reported a more than $1 billion underwriting loss for the first three quarters of 2020 and almost $500 million in negative net income, according to the Florida Office of Insurance Regulation.”
• “They are also facing what McFaddin described as “out of control” litigation in Florida, partly because of a law that can require insurers to pay attorneys “excessive fees” in those cases. The practice has spurred a cottage industry of contractors and lawyers who sue insurers to replace a whole roof when only a few tiles are damaged, insurers say.”

• Some some times on the links below the article as well within Insurance jounal website.

 

[shawnmwalker]

Who ever you join, make sure you are getting the whole story...... FL is tough. It is tough for a hardened vet. It is even more tough for a newbie.

 

[shawnmwalker]