Finding the Best Aggregator

KCBEDROCK

New Member
3
Hello hello everyone!

This is my first time posting and I plan it won't be my last. I am in the early stages of starting my scratch independent agency. I have hit a block though in this seemingly smooth process. Finding the best aggregator. I understand this may be my biggest choice at this point of my agency. With so many different companies out there and factors to consider I am a bit overwhelmed. I have looked so far with SmartChoice and Networked. Having a hard time weighing this out. Please any advice from those that have experience starting scratch with an aggregator and what your best and worst recommendations are! Thank you so much to this lovely group!:cool:
 
KCbedrock,

What state? What is important to you? Know this before going in. Begin with the end in mind. What are you good at, what don't you want to do? What part of IA scares you? what part motivates you?

Consider the following:

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.


Decision #4: What group should I join?

There are a lot. Consider the following. NOT ALL GROUPS ARE CREATED EQUAL! They range from good, better and best.

Any group claiming to be best of class should provide the following:
1. Transparency
2. Training and support
3. Carrier Alignment
4. and a great Contract
Give me a call, shoot me am IM. Good luck and have fun with your choices.

I have been in Insurance for 13+ years and the great thing in this industry is you can choose to never stop learning. Your learning curve is never ending. Meaning you will never get board.
 
KCbedrock,

What state? What is important to you? Know this before going in. Begin with the end in mind. What are you good at, what don't you want to do? What part of IA scares you? what part motivates you?

Consider the following:

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.


Decision #4: What group should I join?

There are a lot. Consider the following. NOT ALL GROUPS ARE CREATED EQUAL! They range from good, better and best.

Any group claiming to be best of class should provide the following:
1. Transparency
2. Training and support
3. Carrier Alignment
4. and a great Contract
Give me a call, shoot me am IM. Good luck and have fun with your choices.

I have been in Insurance for 13+ years and the great thing in this industry is you can choose to never stop learning. Your learning curve is never ending. Meaning you will never get board.

I am looking at smart choice. Wanted to go with premier but heard their carriers aren't appointing in NY which is one of 4 states I need.
 
Hello hello everyone!

This is my first time posting and I plan it won't be my last. I am in the early stages of starting my scratch independent agency. I have hit a block though in this seemingly smooth process. Finding the best aggregator. I understand this may be my biggest choice at this point of my agency. With so many different companies out there and factors to consider I am a bit overwhelmed. I have looked so far with SmartChoice and Networked. Having a hard time weighing this out. Please any advice from those that have experience starting scratch with an aggregator and what your best and worst recommendations are! Thank you so much to this lovely group!:cool:

KCBEDROCK, You have been given some very sound advice from Mr. Walker of Premier Group.

If you need some other thoughts, feel free to contact me. I work with agents who are looking for clarification of their options with regard to starting and growing their own P&C agencies.

I can be reached through my website below.
 
My advice would be to not sign with any aggregator whose contract states
that they can cancel the agreement at any time.

This advice was from my attorney, whom I had review a few of them when
I was considering it.

If, say, you got ill and could not produce for several months, legally they
could cancel the agreement.
 
RicFlair,

What are you doing today in the industry?

I think you hit this topic all the time but it has been addressed...?


I dont know what you mean, what am i doing in the industry?

27 years with Allstate, now independent. This is not about me,
this is about people that seem to be fairly new to P and C.

How has it been addressed? I have seen no one address it, other than
to change the subject.

I am not directing this solely at you, but people new to P and C should
be aware that there are pratfalls and there are things in each and every
one of those type of contracts that should be reviewed by an attorney.
 
I whole heartedly agree that an attorney should review the contracts.

Pitfalls..... I would say.....Opportunity costs to each decision listed in my post above....

But the thing your Attorney got you hung up on was an at will clause to term the agreement. Not an issue if you join the right group....No group is going to term you at will unless you are doing something that jeopardizes the group. (Illegal and threatening Carrier relationships) The Contract has to protect the agents in the group.
 
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Are you familiar with what are the best and worst aggregators in the Midwest. I have been captive for 10 years. I may have to make a move.
 
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