Connect Insurance Cluster

[AUTOFAKT]

Just got both P&C and Life + Health. Opened insurance agency hoping to have better luck getting appointed. I have a used car dealership that is able to generate minimun 30+ auto policies a month. Also a related finance company that holds 500+ customers that constantly need new policies. Was looking for a way to build a book instead of sending the customer to insurance agents.

Wasnt able to have any luck except with access insurance. They seem interest in working with new agents and no book Researched a couple of clusters and the best one was connect insurance. They want $4000 to start with commission set at 85-15. Not sure i want to go this route but it might be the only choice if access doesnt take me.

I would like to concentrate on auto for the short term but would like to be able to sell all the lines that make sense. Losing potential customers daily its a sad sight. What can i do in the meantime?

 

[indienoise]

What type of clients do you have? Subprime? Good credit?
If your dealership is bhph, or feeds customers to your finance company which accepts risks that traditional lenders wouldn't, you need mainly nonstandard carriers.

I'm in your shoes. I manage a bhph lot that runs around 1300 accounts at a time, for 18-36 month terms. I'm sure you can appreciate the opportunity that presented.

Access will be a decent start, I don't know what carrier they represent in your state - here, it's everest. You couldn't build a book on that alone, but if you produce enough over the next 12 months you could possibly get more nonstandards on board. You may be able to use superior access for preferred customers.

If you choose tojoin a cluster, you'll need one that will hold your hand a little. Read their contract carefully before you sign, some clusters will have you by the balls.

Feel free to pm me anytime. I'm sure I wont be the most helpful person you come across, but come from a similar beginning.

 

[insurance1822]

What the hell is a BHPH?

 

[nonstandard4me]

Buy Here Pay Here...in house financing for credit challenged.

 

[AUTOFAKT]

What type of clients do you have? Subprime? Good credit?
If your dealership is bhph, or feeds customers to your finance company which accepts risks that traditional lenders wouldn't, you need mainly nonstandard carriers.

I'm in your shoes. I manage a bhph lot that runs around 1300 accounts at a time, for 18-36 month terms. I'm sure you can appreciate the opportunity that presented.

Access will be a decent start, I don't know what carrier they represent in your state - here, it's everest. You couldn't build a book on that alone, but if you produce enough over the next 12 months you could possibly get more nonstandards on board. You may be able to use superior access for preferred customers.

If you choose to join a cluster, you'll need one that will hold your hand a little. Read their contract carefully before you sign, some clusters will have you by the balls.

Feel free to pm me anytime. I'm sure I wont be the most helpful person you come across, but come from a similar beginning.

Customers are 60% subrime but also enough good ones. A good 20% also have licensing issues where we find ourselves going through a agent to get insured because gieco mercury wont take them or cancel if it gets suspended.

Forgot to mention that im in Los Angeles. Bhph means buy here pay here which translates to us financing you in house. we were doing good with progressive until they sent us a cease & desist letter. accused us of selling insurance without a license because we would ask our customers to get the loan payoff option that they offer. They also were not happy with the storage and towing bills on most of the claims where we picked up the car with our own tow truck.

looks like im gonna have to do more research on nonstandard insurance and hopefully will find someone to sign us up. a lot of customers also have mexican or international licenses.

 

[AUTOFAKT]

Customers are 60% subrime but also enough good ones. A good 20% also have licensing issues where we find ourselves going through a agent to get insured because gieco mercury wont take them or cancel if it gets suspended.

Forgot to mention that im in Los Angeles. Bhph means buy here pay here which translates to us financing you in house. we were doing good with progressive until they sent us a cease & desist letter. accused us of selling insurance without a license because we would ask our customers to get the loan payoff option that they offer. They also were not happy with the storage and towing bills on most of the claims where we picked up the car with our own tow truck.

looks like im gonna have to do more research on nonstandard insurance and hopefully will find someone to sign us up. a lot of customers also have mexican or international licenses.