Starting Scratch Independent Agency

[wingateexpress]

On a related note, does anyone know the process of contacting independent agents anonymously to inquire if they are willing to sell out? I want to contact some agencies but do not want to reveal my identity.

I suppose an email or prank call would would work.

 

[Sales71]

On a related note, does anyone know the process of contacting independent agents anonymously to inquire if they are willing to sell out? I want to contact some agencies but do not want to reveal my identity.

The best solution to your problem is you send him a letter without your name or address or phone number and wait for him to contact you

 

[bliss171]

Because I am still a Captive nearby and do not want the word to get out before I am ready.

 

[Yvette]

Hi all,

I am a 6 or 7 year lurker, but have never posted before today. I would like to solicit advice from the wealth of knowledge that I know is active on this site. I have been with a captive company for nearly 9 years. I started with absolutely no knowledge of the insurance business when I took a nearly scratch book with my current company. I have since been highly successful with them (by their standards). In the time I have been with my company I have made it a point to become an expert on my product lines, and with the industry as a whole. I had a high school education when I started, and while running my agency I earned my Undergrad, MBA, and 4 insurance designations, including the CLU and CPCU. My long term goal has always been to go independent. This desire has been stronger than ever in my current market where I am 30-40% higher than 80% of the market. I am very good at creating value and closing sales. I do not need help or advice in this area. When you are constantly closing sales where you are higher on premium, you become very good at adding value and increasing coverages to create that value. However, I am so very tired of having to work 3x as hard to close 40% of the sales that many independents enjoy. Additionally, I want ownership equity in my agency, and be able to honestly say that I am representing the best interests of the company, including price, value and respectable carriers.

SO- that brings me to my current situation. If you were in my position, how would you go about going independent? I have taken a hard look at SIAA, as I think this may give me the best shot at growing quickly, as I am instantly big. I know that I will have a nearly impossible chance of getting preferred carriers as a scratch, despite my credentials and history of sales success. The two biggest hurdles that I see are contracts and financing. I have 6 months of income saved up, but I know that is not enough. I anticipate rapid growth, and am projecting to be able to start taking a paycheck within 18 months. I have an area in mind to start, a business plan, and all of my projections based on what I have seen other independents do, and based on my own work ethic and my past track record. Does anyone know of any company that will lend money to a scratch agency? I know I cannot get an SBA loan because I do not have the volume in the agency. My dad has said that he will carry me as well, but I would prefer to go the loan route if possible to not be a burden to him. If anyone has any good advice, or has been in my position in the past, I would really appreciate any advice you can give me, as I feel that I am capped, treading water, and just throwing my career away by remaining where I am. Thank you in advance for your help!

yes, I have 2 sources that would be interested in helping you with financing. Contact me. (email is best but be persistent...I could lose it in the 100 emails I get a day).. Very happy to help you. Yvette Kaplinsky, [email protected], 214-675-1358

 

[mheldawy]

I looked at many options when I opened my stratch IA, I found an option that has Low buy-in ZERO buy-out 100 of contingency bonus given to members (based upon % of biz with carrier) 80/20 split until 100K 90/10 split after 100K access to great list of companies (AAA,Allstate, MetLife, Travelers, Mercury, Hartford, Encompass and more) They only operate in the midwest. If you want more information, send me a PM.

So what is the name of this cluster ?
They are working in Texas?thanks

 

[Schwetty]

So what is the name of this cluster ?
They are working in Texas?thanks

Not available in Texas, only the states in my signature currently

 

[kenojuno2]

I am in Ohio, would like to hear more.

 

[jason5436]

To anyone who wants to go independent with a small amount of money. I am 29 years old and started an independent 11 months ago. I have been networking a bunch and have ran into other independents. I found that I made a good decision. I went with a established group who help me gain many carriers quickly. I own my book and can leave at any time. I pay 20% of each commission up to my first million. I also pay 300 a mth for software and support. In reality that is a bunch of money. But I have 15 commercial carriers and 20 personal p&c. I have found that doing it on your own takes years to gain good standard companies. If anyone is interested to hear my story And talk about starting your own email me. [email protected]

 

[agencynew1]

What group are you with Jason?

 

[jason5436]

Integra financial group

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Or Integra insurance services.