Network Companies With Top Carriers

[alanoneal]

I am looking for a good company that has top carriers for the p&c market. I have seen Iroquois,SmartChoice and a few others. Can anyone give advise on what company would be best. I am kooking for the best company that pays top commission,quote and bind business, can keep the book of business and minimal contract rules. That is not asking for to much it.

 

[CaptiveGuy]

Re: Network Companies

Iroquois, Smartchoice, and SIAA all give you binding authority but can't guarantee appointments with all of the carriers they provide. Plenty of threads on this but I'll try to summarize:

Smartchoice - 70% commission up to $50k then you get 100% and no monthly fee

Iroquois - 5 tiers most start at 80% commission and $75 per month fee with profit share bonus potential

SIAA - $8-15k to join and 90% commission with profit share

I was going to use Iroquois but was able to get 3 direct appointments on my own. Good luck.

 

[alanoneal]

Re: Network Companies

Do you know if they pay renewal commission and do you keep the book of business if you decide to leave. Your info is greatly appreciated.

 

[CaptiveGuy]

Re: Network Companies

With Smartchoice and Iroquois you own your business and get paid renewals ONLY when you are in the program. If you have Travelers and leave Iroquois then you can't sell Travelers direct for 2 years. I believe with SIAA you pay them 10% a month of monthly commissions and you own the book but they get a chance to buy your agency if you decide to sell it.

Depending on your experience build up a book with substandard carriers then get preferred direct appointments after you have $100k+ in written premium. I'm using Superior Access while my direct appointment paperwork is getting done this month. I hate not having binding authority but it holds me over for the time being.