Which companies offer the best set-up for independent agents?

[newglarusman]

I am trying to start my own agency, and need to know which companies are easiest to approach and work with as an independent agent.

 

[The Rabbi]

You need to be specific.

 

[newglarusman]

I mean for health and life, disability, annuities; also, what are the best five insurance firms in these areas, respectively? Also who are the best bga's in wisconsin, or national bga firms with offices in Wisconsin, or at least, licensed to do business in Wisconsin?

 

[TheSalesWolf]

In Wisconsin I would give Kevin Truebenbach a call
888-883-8490. He's got great contracts on HUMANA and Golden Rule and maybe a few more. I've been working with him for years. He's located near Milwaukee.

In health insurance you have tons of companies to choose from. Blue Cross Blue Shield, Golden Rule (united healthcare), Assurant, Aetna, and Humana are the main companies I work with and you'll do fine sticking with these.

I use LifePro Insurance Marketing Insurance Marketing, Annuities, Securities, Leads, and Other Life Insurance Agent Resources for getting contracted for Life Insurance and Annuities.

 

[squeed]

SalesWolf, is that company LifePro considered a middle man ? Meaning they're like a one stop shop for selling insurance for independent agents ?

If yes, then don't you make less commissions vs. going directly to the carrier ?

-S

 

[Paradigm]

No because of pooled commissions

If you do 100,000 in life premium and go direct you might get 70-80%

But if you do the same 100,000 and are through an FMO they may do 20,000,000 in premium collectively so as a result you they may get 115% and you get 100% and they may get a 10-15% override.

 

[squeed]

That makes sense. See this is the type of stuff that I'm struggling with because I don't know what I don't know. Meaning, I'm not even sure what questions I should be asking. But this is great information, thank you.

So then Mark also does what this company does right ?

-S

 

[Mark]

Let's not forget that the IMO co-signs for advances also. They are also on the hook for your debit balance. Most IMO offer more commissions than if you go direct and most companies don't offering advancing. They want someone else to be on the hook for you debit balances.

You can always call the insurance company 1st and see what they will offer you and than call a couple of IMO's and see who offers you the best services, training, support and commissions.

 

[squeed]

Can you define what an IMO is. I tried using search "What is an IMO" but it said that my term was only 3 characters and it would not return a result for less than 3 characters.

-S

 

[DJM]

imo stands for
Independent Marketing Organization

bascially thousands of agents producing business together to get higher commissions from the ins carriers