What Cluster/MGA Do You Recommend?

[KcChamps]

I have been lurking here for quite some time and I am now at a point in my career that I need to advice...

I have been a captive P/C/L agent for one of the larger carriers for just over 6 years now. I have had enough with the rate volatility and the charade of being a "business owner." I am planning on taking the plunge in the next few months to start my own IA. Unfortunately, I cannot roll my book over due to the non-compete.

That said, I doubt that I can get many, if any, direct appointments so I have been looking at clusters/aggregators/MGAs. I am leaning towards SIAA but I was wanting to hear some from others that use SIAA or another C/A/M and what they think. I am still wanting to be able to offer P/C/L but I am also thinking about bringing on health lines. I have done quite a bit of reading on AgencyEquity's site but there is nothing like an opinion from a real person.

Thanks for any responses!

 

[redgo]

Couple of thoughts...I've been with SIAA for a number of years now. The monthly fee, length of contract and the amount of the book they want when you sell is a big concern of mine. Let's put it this way...if I could do it all over again, I would REALLY consider other options.

As an independent agency, I deal with rate changes, carrier underwriting changes, loss ratios, home inspections, clients asking why their rate increased $10 a month, etc. just like captives. From what I have seen, i believe captive agents think being independent means green pastures and rainbows. I think it is just as challenging. Perhaps there are some benefits and more options for your clients, but at the same time you don't have the marketing machine that the captives have. I truly believe if you can make it being captive, you can make it being independent and vise versa.

Best wishes!