Leaving Captivity, Going Independent. Help

shooner · 08-21-2009, 12:27 PM

I have been an independent health insurance agent for the last 9 years and have recently moved into the personal lines market with Farmers insurance. Since I did not have any experience with P&C I thought the best way to learn was through a captive agency. I have recently found out that I am not cut out for captivity as I feel I have gone from being self employed to having the feeling of being employed.

I would like to leave Farmers insurance and understand that I cannot take my book of business with me but what I am finding out is that almost all carriers want at least 3 yrs of P&C experience in order to get direct appointments.
Has anyone found a wholesale agency or some sort of alliance that allows you to keep your book 100% and does not take half of your commission? Any suggestions or help would be greatly appreciated.
Thanks

Shooner
Utah

Seniorgirl411 · 08-21-2009, 07:36 PM

I would like to know that, too. I'm in IL. Let me know

antoncipri · 08-22-2009, 12:11 AM

Gents...and Ladies too,

We are of a different cloth! Don't ever try to be an employee. This is where the definition of the words "Going Postal" came from.

Over the years, I too have dipped my toe into the "being an employee" waters only to pull back, recoil in disgust, and say..."What the hell was I thinking?"

My wife is a P&C agent...it's a treacherous world! Come back man...come back!

Thatguy · 08-22-2009, 09:36 AM

If you are in SLC, try using CRUMP. They are the biggest of the big there in Utah; and have both P&C and L&H. If you want to be truly independent, it is unlikely you will get P&C appointed without experience. Best to go L&H

shooner · 08-24-2009, 05:23 PM

I have found a few options that might be available to me. Has anyone ever heard of UIAA, or SIAA? They look like a good option to go with because instead of using an aggragator, you join an alliance and are able to contract with several carriers. You write under a master contract but still retain 100% ownership of your business. Has anyone had any dealings with this sort of alliance?
Thanks
Shooner

Gulliver · 08-24-2009, 10:20 PM

SIAA is highly recommended. I would talk to them. Remember "talk is cheap" SIAA allows you to access the big carriers with ownerhip priviledges. I personally would look strongly at them if I started up a P and C agency.

Gulliver

bpenn9 · 08-27-2009, 01:47 PM

Originally Posted by Thatguy

if you are in SLC, try using CRUMP. They are the biggest of the big there in Utah; and have both P&C and L&H. If you want to be truly independent, it is unlikely you will get P&C appointed without experience. Best to go L&H

Can you tell me what CRUMP is? Currently work for Humana, got married and moved to Moab, UT. Looking into going Indy as the hour and half commute is wearing on me.

Thatguy · 08-27-2009, 01:52 PM

CRUMP is a large IMO there in Utah.

toddtaylorinsurance · 08-27-2009, 10:27 PM

I am doing the same thing as you. I went to the local Independent Insurance Agent of America chapter and they helped me get my E&O.

Sources for getting the carriers and keeping 100% of your pc book are:

Agentsecure.com
Superioraccess.com

Agent Secure has lower commissions but there system seems better while superior access has much higher commissions. Both you keep the book but aren't the agent of record.

shooner · 08-28-2009, 10:55 AM

Thanks for all the advice, it looks like I am going to sign with and Alliance here in Utah that is a part of SIAA. They are a national organization that you join and get access to over 15 carriers. You keep your book and are listed as the agent of record on everything. Everything is in your name as well as the writing codes. It costs a little more to join then most of the aggregators out there but the benefits in the long run out way everything else. You also qualify for bonus payouts on first dollar that you normally wouldn't qualify for. If anyone wants more info let me know.
Thanks again for all the help.