Producer to Broker

[SDCLife88]

Good morning and Merry Christmas!

I have been in the insurance game for a few years now and believe I am ready to leave my current agency and go on my own full time. Currently I have a team of agents that write business consistently. I trained them, get them the appointments and they sell.

I want to become my own agency, brokerage? Does anyone have any advice on where to start? I have a business partner, currently an agent, looking to leave with me.

I am looking to contract with crarriers direct, but the ones I use most do not do direct contracts. They are requiring an MGA/IMO/Broker and they cannot or will not point me in the right direction...please help!

edit: I should also add that I have proof of my team's production and need to be able to take overrides on business written.

 

[Stevekobrin]

Good for you! It is exciting to GO FOR IT. I did the same thing in 1998 after 7 years with a captive agency.

Give some thought to affiliating with a wholesaler who will a) dedicate underwriters and case managers to your subproducers so they can keep on selling and b) compensate you for their production.

You can still be your own brokerage and yet have access to all the carriers you need.

This is a big decision. PM me and I will be glad to share what I have learned.