The Woodlands, Texas-based independent insurance agency, TWFG, announced it is offering a new branch agent program.
With a commission split of 80/20 for “TWFG Full Service” branches, the company is targeting captive insurance agents.
TWFG President and CEO Gordy Bunch said in the company’s announcement that in his experience and TWFG branch managers tell him: “Captive agents endure lower commissions, lack of product choices, higher quotas, and non-competitive pricing.”
The financial services firm has 285 branch offices in 16 states and several thousand agents already onboard with TWFG, selling in 49 states.
A “Managing General Agent” Program and a “Referral Program” are also being offered.
The general agent gets a full appointment for personal lines insurance carriers and receives a 70/30 commission split on all business. The full appointment includes online rating and binding authority with most carriers, multiple personal line and commercial line products, an agency management system available at low cost, and comparative rates available at low cost.
Bunch believes that “captive” agents are not realizing the full rewards and benefits for their work as the backbones of the insurance industry.
The referral program is offering a 50/50 commission split with no appointment required. TWFG, founded in 2001, emphasizes personal progress for agents without the pressure of quotas and adds a synergistic support team that utilizes the most advanced technology, the announcement stated.