Insurance Noodle vs. Superior Access vs. Agent Secure

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jlfogle
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Re: Insurance Noodle vs. Superior Access vs. Agent Secure

Post by jlfogle »

ziiqui wrote:You're NEVER going to get real-time access or agency support until you sign up with a REAL cluster like SIAA. That being said, I go between Superior Access and Consolidated Agency Partners (http://www.capnet-1.com) 775-333-0204. Between the two, I have access to: Traveler's, Safeco, Hartford, Metlife, Kemper, Encompass, Allied, American Modern, Commerce West (Mapfre), Progressive, and Dairyland. Small monthly fee. Small commission. You own your Book! They are both very supportive and fairly easy to reach. Minor problems, but oh well!
Thanks for your reply! That was really helpful!

Hopefully others will share as well. Very interested to hear what combination of MGAs/Online wholesalers people are using to get the job done....
mdagent
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Re: Insurance Noodle vs. Superior Access vs. Agent Secure

Post by mdagent »

ok- I'm trying to keep up here-

But are you saying you don't actually quote with the companies themselves? That you use a 'go-between'?
kylemead
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Re: Insurance Noodle vs. Superior Access vs. Agent Secure

Post by kylemead »

Attention Texas Agents- If you are considering using Insurance Noodle, Superior Access, or AgentSecure to access carriers you might want to give me a call first. Kyle Mead, cell: 214-683-6567. www.imsgtx.com
We offer direct access to carriers- dec pages are in your name, you have a code with the carrier, and binding authority
You own the business 100%
Competitive commissions
No Fees
ziiqui
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Re: Insurance Noodle vs. Superior Access vs. Agent Secure

Post by ziiqui »

mdagent,

Superior Access and Consolidated are General Agents that submit your information to the respective companies for a quote. Then, they return the quote to you within 24 hours.
El Phil
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Re: Insurance Noodle vs. Superior Access vs. Agent Secure

Post by El Phil »

They have a lot of names within the P&C world: Agency Networks, Agency Groups, Clusters, Premium Aggregators, Agency Franchises, etc. They serve a very important role in the P&C industry, in particular. One or more of them could provide a solid base for your agency to succeed. As many thread posters have indicated in these Forums, these organizations can be a very viable way for an agency to acquire markets and services that might otherwise be difficult or not likely to obtain in this marketplace. However, when evaluating any of them, you need to ask - at a minimum - the following questions as part of your due-diligence process.

I will refer to all of these as ‘Networks’ for the purpose of this
piece.

1. Who would own the business that I produce as a member of your Network?

Obviously this question is critical but I have known agents who have joined Networks without asking for clarification about it and have paid the price, as a result.

2. What would be my commission percentage?

Determine what your commission percentages would be from day-one after joining? Also, ask if you have the ability to earn enhanced commissions in the future and under what specific circumstances. Also, find out if carrier bonuses are paid directly to your agency, for accomplishing specified production goals during the course of the year.

3. How would I access markets?

Many Networks are set up to write business from their members through a central placement facility or a third-party. Determine if it is important for you to be able to write business directly with carriers, by using their online systems and contacting their underwriters. This is not always critical to every agency, depending on each particular situation and circumstances but it is important to be clear as to how this will work for you.

4. Whose name would appear on the declaration page?

Centrally placed business usually bears the name of the Network on the policy declaration page. Under a direct access model, your agency name would appear on the declaration page. This is not a key concern to all agencies when evaluating Networks but for many it is very important.

5. Is there an initiation fee? If so how much and what other fees are involved to a member as they progress with you?

Obviously, be very clear about this, especially regarding future fees of any kind.

6. Will the Network take an equity position in my agency?

Some do so with business written through their Networks and also in business not written through their Networks. This is a critical consideration for an agency. Ask the Network Representatives for the names of some of their members in your State and Region. Call them or set up a breakfast or lunch meeting with them. The prospective Network should be happy to provide you with names, websites and phone numbers. Ask the current members how the program you are considering is working for them, especially as relates to the Network taking an equity position, if they do so.

7. Can I earn profit-sharing through the network?

Some Networks retain all profit-sharing while others share it with their agent partners. Ask for written examples of how their program addresses this feature.

8. What is the minimum production level for my agency to be eligible to participate in your profit-sharing program?

This should be provided in written form.

9. What else can the Network provide for my agency besides market access?

How about free consulting to help me maximize profits? Producer training, financing, marketing and sales support, agency perpetuation planning assistance, etc. What else and how do you deliver it? Are there additional costs?

10. What would happen if I sold my agency at some point after joining your Network?

Be clear on what would occur. This is obviously very important.
Develop a couple of scenarios that you might conceive of for the future of your Agency and get an understandable explanation of what would happen in the event of a sale under each circumstance.


**Definitely ask for a copy of the contract you would be asked to sign. Take some quiet time to read it! Make notes of your questions and ask the prospective Network representatives to address them. Then have it reviewed by an attorney with insurance contracts expertise and/or one of your State or local professional insurance organizations, like the IIA or PIA. This investment of your time and money can prove well worthwhile.


In conclusion, while this is certainly not all-encompassing in terms of the questions you should ask, it incorporates some of the key questions you need to be asking. Ask a lot of questions! Make sure you get answers that make complete sense to you. You may want to consider writing out your questions and submitting them to the prospective Network partners and ask them for written responses. Talk to other agents. Pose your questions on this Forum!

Obviously you are making a very important decision that could affect the future of your agency and for you personally, for a long time. You need to be certain that you do the most thorough job possible in your evaluation process. Take your time. You need to ‘think it through’ and it needs to make sense for you and your agency situation.

Hopefully, I have given you some useful thoughts here.

Phil Tuccy
http://www.insurancegroupconsulting.com/
Free consultation for Agents considering Insurance Networks & Alliances Relationships
RachelMc55
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Re: Insurance Noodle vs. Superior Access vs. Agent Secure

Post by RachelMc55 »

Hi All,

My name is Rachel and I am a marketing representative for PIIB. I saw our name mentioned a few times in this thread so I figured I'd get my contact information out to anyone who would like to discuss their opportunities with PIIB further. Some of our highlights include:

- You Own Your Book
- We pay 100% of the commissions
- We pay out 90% of the Profit Sharing
- We have a direct access model, you will be working with the marketing reps and underwriters directly; no middle man
- Our Exit Clause is just 90 days notice and we'll sign off on everything
- We are now appointing agencies in California, Texas, Nevada, Arizona, and Washington

Good luck in the search for a cluster that best fits your agencies needs. :D

Rachel McClurg
rachel@piib.com
916-934-3211
mschwartz
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Re: Insurance Noodle vs. Superior Access vs. Agent Secure

Post by mschwartz »

I have done research looking for a network/cluster for my agency. We are 4 years old, located in New York City with over $20mm in premium. In my old office we were members of ISU and it was worth the fees being that we were able to come and go as we please and had fantastic access and results. My agency is not looking to get married and have any crazy contracts where we do not own the book or it is impossible to leave. We are currently only using wholesalers and it is really holding our growth back. I would love any input and suggestions.

Thank you.
txagentrep
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Re: Insurance Noodle vs. Superior Access vs. Agent Secure

Post by txagentrep »

I am a marketing representative for the ISU Network Group.
The ISU agency network are selectively appointing new agents in all 50 states. With a focus to grow outside of CA.

Key considerations when looking at a cluster and our stance.

- We are a national group with national appointments and middle market access with major carriers
- We are one of the largest in the nation verified by Insurance journal
- You Own Your Book and can sell to the highest bidder as desired.
- We pay 100% of the commissions , We take no Equity position or other hold on your business.
- We pay out majority of the Profit Sharing
- We have a direct access model for most carriers, you will be working with the marketing reps and underwriters directly; no access desk 99% of the time, but carriers at times limit access not us.
- Our Exit Clause is when you let us know and we'll sign off on everything and we commit to that via our contract terms.

We are happy to review options with like minded agents with a good agency and the need for a good national partner. I know as I was a successful ISU agent for many years. We are not a fit for all agencies but if a relationship with us can't make you a new return above our cost we will tell you before you join and show you the revenue difference and service advantage of a good partnership.
Check our website for more details or to get state specific details www.joinisu.com

Peter Cross
512-423-1450
InsuranceMaestro
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New feedback on Noodle, Superior Access and Agent Secure?

Post by InsuranceMaestro »

A discussion thread was started a few years ago about the pros and cons of Insurance Noodle, Superior Access and other wholesalers. Does anyone have any current feedback on using these intermediaries to place commercial business?

I am curious to know why Noodle only charges $250 per YEAR with immediate quoting access while the others charge at least $50 per MONTH with a week turnaround time on access setup.

Thanks.
Travis
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Re: New feedback on Noodle, Superior Access and Agent Secure

Post by Travis »

InsuranceMaestro wrote:A discussion thread was started a few years ago about the pros and cons of Insurance Noodle, Superior Access and other wholesalers. Does anyone have any current feedback on using these intermediaries to place commercial business?

I am curious to know why Noodle only charges $250 per YEAR with immediate quoting access while the others charge at least $50 per MONTH with a week turnaround time on access setup.

Thanks.

I only have feedback on Noodle. Noodle is cheap but their appetite is far more limited than I'd like, honestly. NOTHING I have quoted has had an immediate quote come back and only 1 risk out of the 15 I've submitted has had ANYTHING come back. I'm not submitting anything wild, either, so it's become pretty frustrating for me. While the system is easy to use and APPEARS to be user-friendly, I ultimately now just email the assigned Noodle producer to ask about appetite. It's always "no" and even when it's "yes" I can't get the coverage I want and it takes 1-5 days to get something back.
tmanning
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Re: Insurance Noodle vs. Superior Access vs. Agent Secure

Post by tmanning »

Lemore - sounds like you are talking about PIIB - Pacific Interstate Insurance Brokers.
Tiffany Bertolini
tiffany@piib.com
nguyen76
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Re: Insurance Noodle vs. Superior Access vs. Agent Secure

Post by nguyen76 »

can someone list some good local brokers that doing business in Tennessee? Thanks
jkearns
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Re: Insurance Noodle vs. Superior Access vs. Agent Secure

Post by jkearns »

I prefer the Insurance Noodle over Superior Access, but as for Agent Secure, I can't tell you anything about them, since I do not utilize them. I utillize the Insurance Noodle for mostly writing business, which doesn't fit my captive insurers appetite in my resident state.
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