Smart Choice or Superior Access

[insbroker]

Wondering if there is any new feedback about Superior Access or Smart Choice. Please help I need to make a choice.

What I'm looking for..

1) Would I have binding authority.
2) Would my name or (DBA) appear on the policy's.
3) Would I work directly with the carriers.
4) Would I have a to sing a contract or commitment.
5) What are the requirements to join.
6) commission structure

Thank You, in Advanced

[yotes fan]

I hate superior access, cancelled my association with thme, their Customer service sucks.
Also, scroll down about 10-15 threads and there is another S.A. thread

[LadyBroker]

Some quick answers to your questions:
1. No binding authority is likely granted.
2. Name of agent on the policy depends on the carrier. Usually it is the GA's.
3. No, you would work directly with the GA, who has the appointments with the carriers.

The rest I couldn't advise, as each GA has different requirements. Typically you have to fill out a producer agreement, whereby you agree that you are responsible for payment on all business you bind (which makes it important for you to collect the down payment at time of binding), you submit your Agent's license and a copy of your E & O dec page, to confirm you are an agent in good standing in your state.

Good luck.

[insbroker]

Thank You very much, I talk to smart choice and they offer me binding authority, and my dba would be on the policy's the have a 70/30 commission structure on new and renewal. Know I just want to know more about smart choice to see if it's the smart choice (lol)..... please anyone that has done business or is doing business with smart choice please post your comments.

Thank you in Advanced

[slenard]

I would specifically look at who owns the business. Meaning, if you build up enough business with one of the carriers, and want to go direct, or if you find a better deal with another similar MGA and want to change, is that business you can freely take to your own agency or another down the road?

I could be wrong, but I think Smart Choice requires you to purchase those policies to do that in the future. And, I think it's roughly 1.5 times the commission (but, I could have the broker name confused). That can make the move expensive and leaves you more captive than you might want to be.

[meytai]

SmartChoice:

They give you binding authority, you are essentially directly appointed. But if you went direct with the carrier, you would have to rewrite the client with another carrier and then be able to write the business with taht company you got appointed with..

That's about pretty much the biggest hugest setback

But for a small agency like me, who will probably never get that direct appointment withouta smartchoice, it's not likely to happen

[IndyMischief]

Meytai,

Perhaps you didn't realize it, but there are other alternatives in the market. These are NOT the only two in the biz. There are other similar companies that allow you to own and transfer your book if you get a direct appointment. (Brooke has never been a serious alternative, either - thank goodness they are finally cooked and done.)

If you look hard enough, you can find those other outlets and you will find the commissions are just as attractive (or unattractive depending on your perspective). But, don't sell yourself short by taking an extra point in exchange for losing your right to do with the business as you wish down the road. And, you don't necessarily need to be going direct, to have the need to move. What if that current relationship deteriorates? You will still need to move your book, and I doubt if you are really going to want to re-write them to a different market to avoid purchasing your own polices if that occurs.

Or, you can connect with another agency that will let you work through them and still own your book. Again, you have to be careful with your investigation process, but if you do, you will find an agency that can help.

I've seen many of your other posts, and they aren't usually so botched. Your search will be harder if you speak and/or write like you did on this post. I'm guessing you were in a hurry. Get it together next time, please.

[meytai]

Good post

You were right

I was in a hurry.. badly written

You seemed like a seasoned person.. when i heard about Smartchoice i was like dayum that's an excellent alternative but you're telling me that there are others in the market that do this

But not sure where they ae.. i found out about them at a convenion

[Aartrijk]

You are asking appropriate questions -- good to do before you sign on the dotted line! Can't speak to specific pros and/or cons of either of those two aggregators, but I can say that if you're an IIABA member (by virtue of joining a state Big I association) you would have access to a new guide at the Virtual University (via http://www.iiaba.net). The guide is a comprehensive checklist of what independent agents should ask of the aggregator before signing. Financial, ownership, perpetuation, exit strategy, etc. How to make an objective (not emotional or hurried) decision. Important stuff that few ask.

[Agent79]

Smart Choice is super. Good people that know the business. I could go on and on, I'm a 23 year agent and I have personal experience with Smart Choice and it's been a pleasure to work with them.

[strangeone]

How can I get out of Smart Choice contract, without loosing my Book and clients. Smart Choice may be a great fit for some people but it just has not been a good experience on my end. Just a good deal of misleading facts found out after the fact. Please I just need advice and direction from someone who has either been there done that.

The contract is horse crap also.

[robert]

i don't have an answer for any of the post here today but just want to share my experience with Smart Choice. i have a new agency and signed with Smart Choice since they are the only ones who can give you an opportunity if you are new in the business however the service they provide (at least to new agencies) is horrible in my experience. They need to request your appointments even thought you are directly appointed. i have been waiting for more than 3 months and they have only given ONE. yes only ONE!!. the other 3 appointments that you get immediately after signing with them are shared and you can sell only package policies (with no competitive prices!). Conclusion: i am trying to get out as well and start in my own. any advice on how to terminate the contract with them?


thanks