Brightway Associate Agency

[AndreaSti]

Does anyone know anything or have an opinion on Brightway Insurance? Franchises in Florida right now? Just wondering. I am a health agent looking at P&C, our agency has been licensed for P&C for several years but haven't really concentrated on it as ind and small group health has been taking up most of our time. But now looking for other opportunities, like most agents!

Any feedback from anyone who is familiar with these people would be appreciated. Thanks!

 

[infoe]

I am looking at a Brightway opportunity in Florida as well...I would assume that only Florida/Georgia folks would be able to lend a hand.

 

[FL P&C Broker]

I don't know much about them but they seem to put agencies on top of each other. I think their franchise fee is pretty steep at around $25k.

 

[infoe]

60k.... at first was 5 mile agency..take 15% ofnew commissions and 45% of renewals and they own the book...what do they do? Some of the service of the book and get you appointments... I'd pay someone to get me all the appointments they get you but having to deal with those commission splits is what worries me
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Meant to say five miles from nearest agency...(typing from android) now agents I ask are not so sure

 

[FL P&C Broker]

I think there is better options available.

 

[AndreaSti]

Thanks for the responses. Comp with P&C, book of biz, etc can be very different than health so it's great to have expert opinions on this. Don't want to go captive, like being independent.

 

[infoe]

I want to go independant also and want to return home to south florida...just so you know being with brightway your not truly independant..they own the book and you're not supposed to write business outside of the scope of what they offer...(in their contract) so while I want to say it's somewhat of a hybrid, because you can write multiple carriers...you're more of a captive agent with Brightway then an independant by yourself...it's captive being able to write multiple carriers.

 

[AndreaSti]

This is so weird but I just got a solicitation in the snail mail from them. I think they are trying to expand into GA. I haven't seen them in the Atlanta area as of yet, unless I don't recognize them when I pass them.

Infoe I appreciate your input, maybe would work here with all the Big Box names around here to compete with. I guess it depends upon which carriers they offer, how competitive they are with Allstate, SF, etc, and how and if they offer advertising support, etc. Not sure if I like them owning the book, and the 45% renewal comp makes me cringe. Just kicking the ideas around with Obamacare on the horizon, gotta do something! I really like health and life. P&C is a different animal, like it too but don't have a lot of experience so would need good support.

 

[Hefe]

Find another local independent agency that will let you work with them. The Brightway offer doesn't sound very good. You may still have to give up half your renewal commission but you should be able to find someone that will let you own the book. You can probably also avoid some of the costs like office space, e&o, possibly marketing if the local agency supplies these things.

 

[KJ in Miami]

They own the book? RUN fast!! They are not State Farm yet putting the same restriction on you it seems from some of these posts (as I personally know nothing about them, they did send me a postcard).

60k.... at first was 5 mile agency..take 15% ofnew commissions and 45% of renewals and they own the book...what do they do? Some of the service of the book and get you appointments... I'd pay someone to get me all the appointments they get you but having to deal with those commission splits is what worries me
- - - - - - - - - - - - - - - - - -
Meant to say five miles from nearest agency...(typing from android) now agents I ask are not so sure