Wanting to Start an Independent Agency

wappahso · 12-19-2008, 11:41 AM

Have been in the support role for a few years, Worked with Marsh for almost 7 yrs, P&C licensed and I will love to start something on my own. Can someone help me in the NYC area.

Insurance Phoenix · 12-23-2008, 11:09 PM

From what I've heard (rumors) it is becoming harder to get contracts with carriers who work with independent agents (economy). If you do not personally have a p/c book of business it's nearly impossible to get direct contracts.

I'd visit this website www.iiaba.com and find independent agents in your area. Ask if they can provide the phone number for reps from carriers that do business in your state (MetLife, Travelers, Hartford should be the obvious ones).

It may be necessary for you to sub-contract under an independent in your area for a few years, to prove yourself and build a book of your own. Then break off and get direct contracts.

wappahso · 12-28-2008, 11:21 AM

Thanks for this information, this has been very helpful...

blackhammockcat · 01-01-2009, 09:07 AM

What sources are there besides Brooke for agencies that are for sale?

saieddie · 01-02-2009, 12:14 PM

Careful w/Brooke, I understand they are filing Chapter 11.

Brooke

MedicarePlanSolutions · 01-03-2009, 01:51 PM

Some agencies will let you run a "satellite" office from your own location. They'd want a piece of the commission but they already have the contracts with the carriers so it can be really helpful. They can also give you support like you wouldn't get from the carriers. Once you're totally off on your own and running they can either up the commission or you could grow into your own fully independent agency.

Just some thoughts, hope it's helpful!

wappahso · 01-04-2009, 06:22 AM

Thanks very much, it's been difficult trying to find an agency that I can just volunteer my time. But all the same I hope someone will take me on and give me a chance as I have a list of prospects waiting. I hope insurance noodle works.

Luvindependence · 01-04-2009, 08:20 AM

Originally Posted by wappahso

Thanks very much, it's been difficult trying to find an agency that I can just volunteer my time. But all the same I hope someone will take me on and give me a chance as I have a list of prospects waiting. I hope insurance noodle works.

I haven't searched this site for Insurance Noodle posts, but you can go to my new markets dot com (not enough posts to put in link) and look at the agent forum. A few independent agents that post there have tried Insurance Noodle. Hope that helps.

Soaringagent · 01-04-2009, 11:45 PM

Another vote for Insurance Noodle here

AlekoSoul · 02-04-2009, 11:48 AM

New agent here. What is insurance noodle?