SIAA vs. Cluster?

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GreenPepper
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Re: SIAA vs. Cluster?

Post by GreenPepper »

Dumbie me, Im looking into this as well.
Can you define a Master agent? A cluster and does SIAA fit into any of these?? What is the tiering as far as higher up the food chain of command of these?
Thanks!
GP
volstrike3
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Re: SIAA vs. Cluster?

Post by volstrike3 »

I looked at every option available when going out on my own two years ago... I ended up with cluster based out of Northern, CA. SIAA seemed like an option but you are only as good as the MA you are assigned to and the MA I was supposed to affiliate with was not reponsive. They were better than the various MGA/Aggregator/etc but they were not as good as the cluster. If you are going out on your own... you have to explore every possible option to see which system works best for your style and book of business. I was used to having direct rating, binding authority and interaction directly with UW's to get business bound... I was unwilling to give that up because I feel that really limits my ability to compete. It is not just about having access to a carrier, you need to have a good working relationship and credibility established to get the best possible quote.
agentariza
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Re: SIAA vs. Cluster?

Post by agentariza »

I don't know where you are at but you should consider our Cluster here in California. At United Valley Insurance Services we have an underwriting department where we will market your risks or you have the option of going direct. Your dues are based on your total book of business and you participate in the profit sharing. We have been in business since 1983 and represent over 40 insurance companies. We currently have 72 member agencies up and down the state of California. We have also been ranked 42nd in the Nation on the Insurance Journals top 100 Property and Casualty list. I don't think you would be sorry for coming on board with us. We are a good and honest company with an excellent reputation. I work in the underwriting department of the home office and we bind a lot of business for our member agencies. If you want to talk to our person in charge of recruiting agencies, call Jack Harbert at 559-256-2556. You will like what you find out. Take a look at our web site and it will let you know the benefits. http://www.unitedvalley.com/Home/tabid/159/Default.aspx
Susan Ariza
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GreenPepper
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Re: SIAA vs. Cluster?

Post by GreenPepper »

Besides the rumor that we are getting an extra 10% in MN fpr Travelers on commission right now, Just got my contract to sign with my agency and it says my compensation will be adjusted on a yearly basis due to production goals or not as well as my loss ratio. To me this is a total employee contract. There is more but why the hell would I sign this??? I left FIG to be self employed!! I didnt want to recreate my career days! Is this typical?? what do you also make of this incentive for the Travelers bonus? Do agents typically pocket the bonuses and not share them? Thats been the case in my agency. Its been a secret and not shared that we've had them or earned them.
toddoxley
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Re: SIAA vs. Cluster?

Post by toddoxley »

Are you a producer in an agency or do you have your own agency and you are affiliated with SIAA???
bailey
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Re: SIAA vs. Cluster?

Post by bailey »

Anyone with any thoughts on the SIAA program here in Kentucky? I am in the current territory with Agency Network Of Kentucky as opposed to Agents Helping Agents group which has less company access than the latter. Just was curious on any thoughts as we are/have not had any luck find market access for commercial lines
ntofun21
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Re: SIAA vs. Cluster?

Post by ntofun21 »

I have worked with a cluster for 3+ years and have had fabulous success. Not only do I have great commissions but there were no fees to sign up or monthly fees. I am even to the point of earning 100% of the highest commissions available to the Cluster and that means I will be earning upwards of 15-22% commissions on a book of business I own a 100% of and can prepetuate the way i see fit. I love everything about the Cluster..
jackwehoca
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Re: SIAA vs. Cluster?

Post by jackwehoca »

For ntofun21:

Would you mind revealing to which cluster you belong? Sounds like you are happy and that is a major consideration for me right now. Thanx
JAM
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Re: SIAA vs. Cluster?

Post by JAM »

agentariza wrote:I don't know where you are at but you should consider our Cluster here in California. At United Valley Insurance Services we have an underwriting department where we will market your risks or you have the option of going direct. Your dues are based on your total book of business and you participate in the profit sharing. We have been in business since 1983 and represent over 40 insurance companies. We currently have 72 member agencies up and down the state of California. We have also been ranked 42nd in the Nation on the Insurance Journals top 100 Property and Casualty list. I don't think you would be sorry for coming on board with us. We are a good and honest company with an excellent reputation. I work in the underwriting department of the home office and we bind a lot of business for our member agencies. If you want to talk to our person in charge of recruiting agencies, call Jack Harbert at 559-256-2556. You will like what you find out. Take a look at our web site and it will let you know the benefits. http://www.unitedvalley.com/Home/tabid/159/Default.aspx
Susan Ariza
Marketing
The problem with united is that you guys want a $3 million book with 75% commercial. This is not an option for guys starting out.
Western commercial hub.
www.premieroc.com
mygolden
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Re: SIAA vs. Cluster?

Post by mygolden »

I spent many years writing personal lines as a captive agent in Massachusetts. A few years ago I opened my own independent agency (also in Mass). My personal lines book is now just about a million in premium. Although I am licensed for Commercial Lines, I am not comfortable with the commercial side, I have been directing my commercial business to other brokers whom I know and trust. I am thinking that maybe joining one of these organizations may give me the support & confidence I need to write commercial lines over time.

I also would like to be able fill in some niches in what I can offer my personal lines clients/prospects and become more agressive. I think picking up additional carriers will open opportunities for me to capture some business that is in those markets, which I can not service with my present carrier appointments alone. I realize that it may be difficult to get direct appointments with the carriers I want to fill these voids. So, I have been considering joining either a cluster or an organization such as SIAA. I have been told that by joining one of these organizations, not only would I have access to more carriers, but my commissions and bonuses might actually increase just due to the aggregation effect of the group.

I would welcome any advise/recommendations and pros-cons.
nnabro3
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Re: SIAA vs. Cluster?

Post by nnabro3 »

My Golden,
I am a regional manager in MA for The Iroquois Group. We are one of the lagest Clusters/Agency Networks in the counttry. You are correct, you can earn commission bonueses as we all as profit sharing by aggregating your premium. We don't charge any initial setup fee and you keep ownership of your book of buiness. Take a look at our website at www.iroquoisnewengland.com I'd be happy to talk to you about Iroquois and answer any other questions you may have. Please feel free to call me at 860-670-8824 or e-mail me at corbann@iroquoisgroup.com. Thanks!

Charlie
Steley123
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Re: SIAA vs. Cluster?

Post by Steley123 »

Can’t comment on clusters, and I wouldn’t say that SIAA the right answer for all agencies, though larger agencies that don't want to acquire or hire additional producers may well benefit from the Master Agency model and strategy. Smaller agencies with fewer markets and no profit sharing, and who want to write more accounts while remaining independent, can almost certainly benefit by aligning with a Master Agency under SIAA. My guess is SIAA may soon be one of the biggest independent networks in the U.S.
Wildwillie
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Re: SIAA vs. Cluster?

Post by Wildwillie »

There are several oufits out there to choose from - even Insurance Noodle brings markets, try Big I or PIA as well.
NV Independent
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Re: SIAA vs. Cluster?

Post by NV Independent »

Any opinions on the glaring differences between SIAA, Networked and United Agencies? I am considering each for a startup independent in NV.
Steveinsure
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Re: SIAA vs. Cluster?

Post by Steveinsure »

As important as looking at compensation, I suggest you look VERY CLOSELY at termination terms. Just like in a marriage, you may outgrow your partner or find they just weren't a good 'fit'. The 'pre-nup' becomes important when you decide to move elsewhere. Some models require you to move each policy to a different carrier, which is cost prohibitive. Others state you can no longer use a carrier to whom you were introduced within the model, for two years.

Ideally the contact should let you 'walk away' with all of your business in tact. Strike-out unfavorable terms and negotiate the termination NOW, while you have leverage. I've never understood how some models feel they would own ANY portion of MY business! Good Luck on your decision... Better to pay a set up fee, and own 100% of your business, versus paying much more when you outgrow the relationship!
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