SIAA

broberts · Post by **broberts** » Tue May 16, 2006 9:22 am

Any feedback on this group as a solution to a start-up agency? Better alternatives?

CN1 · Post by **CN1** » Tue May 16, 2006 10:46 am

I have never had much luck with these types of groups. The service has always been deplorable. The "underwriters" are typically low-paid college kids who seem to be working through college and looking forward to some other "real" career.

ewguva · Post by **ewguva** » Tue May 16, 2006 11:05 am

look at http://www.agentsecure.com which will give you personal and commercial REALTIME comparative rates and market access.

They pay up to 15% commission on Package, BOP and Auto.

Work with CNA, Safeco, AIG, Hartford, Zurich, OneBeacon, Hanover and Metlife.

their number is 866.243.5934

yoyowordup · Post by **yoyowordup** » Tue May 16, 2006 11:30 am

ewguva - don't you mean "we" pay up to 15% and "our" number is . . . since you are just advertising, why don't you tell it like it is?

Porter · Post by **Porter** » Tue May 16, 2006 12:56 pm

If you have to pay a large down payment and have a long term contract don't do it.

broberts · Post by **broberts** » Wed May 17, 2006 6:34 am

Other options that might be more worth considering? I currently own a small Registered Investment Advisory business and am performing due diligence to see if we want to add P&C, expecially commercial, to our service offerings.

I am looking at partnership with existing agency (long-shot), or starting up on my own and hopefully finding someone who is captive that wants to go independent and head up the group. I have been pretty much warned off working under MGA's.

Look forward to continued good feedback here.

msidden · Post by **msidden** » Wed May 17, 2006 7:19 am

Agent secure is a great one to use. We use it in our agency, rating is fast, the underwriters are friendly and helpful. You pay $100.00 a month, but it's worth it. I looked into SIAA and they want $5,000 a year, PLUS part of your commission. AgentSecure take's like 2% of commissions, not bad for the service you get. They only offer one personal lines carrier, but no big deal since most agency that use them only write commercial only. Once you reach a certain premium level you don't ahve to pay the $100.00 anymore.

zprasla · Post by **zprasla** » Wed May 17, 2006 8:52 am

I have been a member of SIAA for about a year. It was the best investment I made in my Agency. It provide direct access to markets with out any volume commitments. Many companies provide quotes from multiple carriers, but no one gives direct access with full commission and Profit Sharing. Those year end profit sharing paid of my investment.

Porter · Post by **Porter** » Wed May 17, 2006 9:06 am

Zprasla

What companies do you have access too?

Why don't you just get direct appointments on your own?

zprasla · Post by **zprasla** » Wed May 17, 2006 9:14 am

I have access to Hartford, Zurich, Safeco, CNA, and Allied. In order to go direct they needed volume commitment, which I could not commit due to being new agency.

CN1 · Post by **CN1** » Wed May 17, 2006 11:01 am

I access agentsecure and have found them to be the easiest to quote since they almost take the human element out of the picture. Others that I work with have indicated that the accounting system they use leaves something to be desired.

PIA Jack · Post by **PIA Jack** » Wed May 17, 2006 11:13 am

I have been a member of SIAA for 9 years. Yes there is a fee to join and yes there is a long term contract. But, I have gotten my $$ back many times over in the ability to write business I wouldn't otherwise be able to write and in the profit sharing and override $$ I get locally and from SIAA on a national level. It is truly an investment, not a cost. It's a great opportunity for a start up agent.

mhutch69 · Post by **mhutch69** » Wed May 17, 2006 11:45 am

If you truly are serious about getting into the business, borrow the money from Oak Street Funding, which will lend 2-3 times commissions and buy an agency. If you can qualify with a resume suggesting you would succeed in the lender's opinion, you can borrow sufficient money to "cash out" an owner of a decent shop and jump in...

You can pay the loan back with proven revenues, learn from existing employees and keep them, and buy additional agencies to grow. Starting from zero is very difficult in the competitive environment of most businesses. But, if you buy one, you are in with both feet and will succeed if you buy the right one.

I have an retail insurance agency in Las Vegas for sale for less than one year's gross revenues. With Oak Street, you get 2 times loaned to you which provides cash flow initially until you expand and grow the revenues by being a on site manager owner.

I have owned 17 agencies over 29 years and owning or buying is the most advantageous method.

Hutch

CATHIEA · Post by **CATHIEA** » Wed May 17, 2006 12:09 pm

Have you looked into the Iriquois Group? Pretty much the same as SIAA - different carriers. Why are you afraid of MGA's? Choose wisely and use them for what they do best - you do not want to duplicate companies. You should have a whole arsenal of companies at your disposal. Also, have you thought of clusters? These are becoming popular again with smaller agents not able to meet large volume requirements. Also, remember that just because you buy an agency it doesn't guarantee you get the company appointment.

92builder · Post by **92builder** » Thu May 18, 2006 9:02 pm

Actually, and if they're reading this I could jinx the whole deal, but I am signing up with Iroqouis before 6/1. They can offer me contracts that aren't typically offered to me.

The biggest hurdle with groups like this is what state you plan to write in; not all MGA's/clusters are registered in every state.

SIAA - Agents Helping Agents

SIAA - Agents Helping Agents

AgentSecure is a great one to use

SIAA Agents helping Agents

SIAA Agents helping Agents

Agentsecure

SIAA Agents Helping Agents

Start up opportunities - BUY ONE!