Opening New Agency

tclark199 · 02-19-2009, 07:15 PM

First I would like to thank the people who respond in advance.

I am getting ready to open my own agency starting off just doing P&C, I am new to the industry. I have been selling software for awhile. I am burnt out working for a corporate company, that doesn't care about you just as long as you bring in money!

I am trying to find out the best way to get carriers on with me?

Is it better to just use places like Insurance Noodle or Superior Access until I write enough policy's?

I am planning on building my own and making it really attractive and user friendly.I believe a good web site is the best marketing to generate leads from. Please chime in and tell me what you think.

What is the best place to purchase leads from and what would you say the average closing rate is?

I will be doing L&H in the future as the partner I am doing this with runs an agency but wants to get out on her own. I was thinking if I could get the Agency off the ground with P&C then she could use my BOB to start her off in addition to what she brings over.

I already have an L.L.C. setup from another venture I did, I will be using the same name. Is there anything else I should try to do?

Thanks in advance!

thebrit · 02-19-2009, 07:24 PM

You will find it a little difficult to get appts straight away with no prior.Look at smartchoice,they will get you appointed with some of the preferred carriers to start you off,but will take a split of your money until you have reached an agreed BOB,Where in Utah are you thinking of opening up?

tclark199 · 02-19-2009, 09:00 PM

Opening on the east side of Salt Lake. Do you know if Smart Choice is hard to get one with?

Thanks

thebrit · 02-20-2009, 09:09 AM

I wanted to start with them in Utah about 12 months ago,and I was just a producer in an indy agency.They were very receptive to my opening up from scratch because utah is a market they are looking to get into

1manshow · 02-20-2009, 03:48 PM

What is the best place to purchase leads from and what would you say the average closing rate is?

If you are referring to online leads I'd be interested to hear anyone who is having any higher close rates than 2-4%. We tested the waters on this for a twelve month period with some of the most competitive carriers in the market. Fast follow up, etc/ close rates were still below 4%. ROI sucked compared to even some of our mediocre direct mail work. Oh the lure of hot leads knocking down the door to buy

Good luck in your new venture.

lh2 · 10-01-2009, 08:35 PM

Hi
I am new to this forum.. wanted to know if you moved forward with the new agency as you planned on?

If so, did you get direct appointments & with whom?

Thanks!

ffei · 10-10-2009, 09:21 AM

Do they require you to have a brick & mortar office?