How Do I Keep A BoB Working For An Indy?

[HDR]

I'm looking to start a P&C IA. Based on all the info I have read here on the forums it appears that getting appointments will be extremely difficult with no experience. I have over 16 years experience as a Realtor and 10+ in the technology industry but nothing specific in insurance.

I have seen folks recommending working for another Indy and learn/build a book of business. My question is how can I do that and keep my BoB when I decide to leave and start my own IA? Wouldn't the business I write be owned by the IA I work for because they have the appointment with the carriers? Wouldn't the policies be in their agency name?

 

[whatyouwantfinally]

You're getting paid to do a service (sell insurance/build the agency's book) so of course the people paying you are going to own what you build. Carpenters don't keep the houses they work on.

You can work out a deal to purchase the clients your write from the agency, maybe even get a discounted price.

 

[HDR]

You're getting paid to do a service (sell insurance/build the agency's book) so of course the people paying you are going to own what you build. Carpenters don't keep the houses they work on.

You can work out a deal to purchase the clients your write from the agency, maybe even get a discounted price.

Thanks for the info WYWF!

 

[FL P&C Broker]

You can try to find an agency that will let you buy your book when you want to leave. Problem is that when you do decide to go out on your own your book will so spread out that it won't really help much to get your own appointments.

If you have some cash and want to start scratch on your own you might be able to join a group/cluster. Or I am sure brightway or goosehead will sell you a franchise.

 

[Mike Siegal]

You can try to find an agency that will let you buy your book when you want to leave. Problem is that when you do decide to go out on your own your book will so spread out that it won't really help much to get your own appointments.

If you have some cash and want to start scratch on your own you might be able to join a group/cluster. Or I am sure brightway or goosehead will sell you a franchise.

I heard that you don't even own your BOB when you purchase a brightway franchise.

 

[FL P&C Broker]

I heard that you don't even own your BOB when you purchase a brightway franchise.

That wouldn't surprise me.

 

[onlineagent]

That's a lot of experience OP, kudos!

Yeah brightway owns the book and appointments. I heard somewhere, they allow you to buy it from them but still expensive.

The main issue will always be the appointments, so I would start there.