Iroquois Group - Thoughts?
- Thread starter Everman
- Start date
Don't do it. I can only speak for my agency but we'd advise against it. The checks from Iroquois are usually late. They've helped our agency very little with new appointments and their cut seems disproportionate to the type of benefit we've received from them. I don't want to say much more publicly. Direct message me for more info.
Depending on how hard appointments are in your state... i'd say your are better off starting slow and steady and getting direct appointments
Depending on how hard appointments are in your state... i'd say your are better off starting slow and steady and getting direct appointments
Insuranceguy76
Expert
- 20
Dont aggregators like this require you to “buy in” so you can access markets they have?
RichardCO
Expert
- 25
The offerings by carrier providers seem to be all over the map. Here's a post by @trout thats a good list of questions to differentiate the contracts offered.
1. Do you have a good carrier mix across the lines of business I want to use in my agency?
2. Are those carriers competitive in my region?
3. Do you have any production requirements?
4. Do you provide an agency management system?
5. Do you provide a comparative rater(s)?
6. Do you have a non-compete or non-solicitation if I decide your network isn't for me? If so... why?
7. Do you have any exit fees?
8. Can I sell my agency at some point?
9. If I sell my agency, do you take a cut?
10. HOW do I access the carriers... do I submit everything to you, or do I get DIRECT access to the carrier?
11. How long is my contract for, and do I get ownership right away, or over time?
12. What are the startup fees and are you willing to work with me if I need to make payments?
13. What is the commission rate?
14. What share do I get of the contingency bonuses (If any)?
15. What is the criteria to participation the contingency bonuses (if applicable)?
16. Do you offer guidance and training during the startup phase of my agency and a spirit of mentorship throughout the relationship?
17. Are you open to me contacting some of your member agencies before I sign the contract?
18. May I have an attorney, or third-party consultant review my contract with me?
19. How much industry experience does your network leadership have?
20. Do you offer customer service support for my customers, or is that support up to me? If applicable how much commission do I have to give up in exchange for this support?
21. I think the MOST important thing someone can do other than reading the contracts of many networks is speak to the owner/CEO/president of each network to get a feel for the culture. Let's face it, some people you like the minute you meet them, and then there are others that make your skin crawl... If you find they don’t have the time to talk to you... message me your contact info and I will.
One thing to note... This is just as much an interview of you to be a good fit for a prospective agency network. No network wants to be the quick unthought-through decision and asking these questions will strengthen the relationship with your chosen group. There are subtle nuances each network option will bring to the table and each will stress some areas over others. At the end of these questions though as you are reviewing each of them carefully, I hope you find your answer far more clear than when you started.
If you find this helpful, do me a favor and remember where you got it and drop me a line to tell me what you ended up deciding and how you are doing! Good luck on your adventure!
Trout Kirch
President/CEO
Horizon Agency Systems
1. Do you have a good carrier mix across the lines of business I want to use in my agency?
2. Are those carriers competitive in my region?
3. Do you have any production requirements?
4. Do you provide an agency management system?
5. Do you provide a comparative rater(s)?
6. Do you have a non-compete or non-solicitation if I decide your network isn't for me? If so... why?
7. Do you have any exit fees?
8. Can I sell my agency at some point?
9. If I sell my agency, do you take a cut?
10. HOW do I access the carriers... do I submit everything to you, or do I get DIRECT access to the carrier?
11. How long is my contract for, and do I get ownership right away, or over time?
12. What are the startup fees and are you willing to work with me if I need to make payments?
13. What is the commission rate?
14. What share do I get of the contingency bonuses (If any)?
15. What is the criteria to participation the contingency bonuses (if applicable)?
16. Do you offer guidance and training during the startup phase of my agency and a spirit of mentorship throughout the relationship?
17. Are you open to me contacting some of your member agencies before I sign the contract?
18. May I have an attorney, or third-party consultant review my contract with me?
19. How much industry experience does your network leadership have?
20. Do you offer customer service support for my customers, or is that support up to me? If applicable how much commission do I have to give up in exchange for this support?
21. I think the MOST important thing someone can do other than reading the contracts of many networks is speak to the owner/CEO/president of each network to get a feel for the culture. Let's face it, some people you like the minute you meet them, and then there are others that make your skin crawl... If you find they don’t have the time to talk to you... message me your contact info and I will.
One thing to note... This is just as much an interview of you to be a good fit for a prospective agency network. No network wants to be the quick unthought-through decision and asking these questions will strengthen the relationship with your chosen group. There are subtle nuances each network option will bring to the table and each will stress some areas over others. At the end of these questions though as you are reviewing each of them carefully, I hope you find your answer far more clear than when you started.
If you find this helpful, do me a favor and remember where you got it and drop me a line to tell me what you ended up deciding and how you are doing! Good luck on your adventure!
Trout Kirch
President/CEO
Horizon Agency Systems
