Search found 64 matches

by Rainmaker
Mon May 27, 2013 2:00 pm
Forum: Opinions
Topic: Insurance agencies for sale ?
Replies: 32
Views: 100516

Re: Insurance agencies for sale ?

Yikes - call Marsh Berry or Dowling Hales.
by Rainmaker
Mon May 27, 2013 1:33 pm
Forum: Opinions
Topic: Non compete lawsuit
Replies: 34
Views: 33540

Re: Non compete lawsuit

I've moved three books as a producer from a small agency, to a regional, to a global. I've also run practice groups and was a Regional CEO for a top 10 public broker who had to manage both ends of this equation, ie producers leaving and producers coming on board with books. I see a lot of emotion on...
by Rainmaker
Mon May 27, 2013 1:14 pm
Forum: Opinions
Topic: CPCU - Advice
Replies: 29
Views: 159595

Re: CPCU - Advice

Perfect...bears repeating: In the interest of full disclosure, I work for the Institutes (American Institute for CPCU and Insurance Institute of America). I'm very glad you're considering CPCU. As for what is the best thing for you and your career, ultimately you'll have to make that determination. ...
by Rainmaker
Mon May 27, 2013 1:06 pm
Forum: Opinions
Topic: What marketing efforts are generating business?
Replies: 7
Views: 12352

Re: What marketing efforts are generating business?

If you line up a hundred people and ask this question - you will most certainly obtain a hundred different answers! It's a great question that cuts across many layers. After 28 years in the industry, comprised of production, leadership and consulting roles - I can assure there is no 'secret sauce' o...
by Rainmaker
Mon May 27, 2013 8:31 am
Forum: Opinions
Topic: non compete clause
Replies: 12
Views: 39626

Re: non compete clause

All very good advice. I would simply add that the strength of non-competes will vary by state and the circuit court governing those states. California is a case study for 'the Wild Wild West' in terms of non-competes - always ruling in favor of the departing producer. However, in Oregon for example ...
by Rainmaker
Mon May 27, 2013 8:12 am
Forum: Opinions
Topic: 1st Year as a Producer Stories
Replies: 25
Views: 72897

Re: 1st Year as a Producer Stories

1) the best thing you can be is a dedicated student of the profession, and, later the industry; 2) designations become more important to buyers as you move upmarket - ie past personal lines and mainstreet into B2B commercial or EBEN - whichever path you decide to take; 3) any designation is contribu...
by Rainmaker
Mon May 27, 2013 7:54 am
Forum: Opinions
Topic: Start up cost for a new agent
Replies: 15
Views: 46514

Re: Start up cost for a new agent

It's obvious you are getting very good comments and recommendations on this string. And it appears you are on your way to forming up your new agency. However I would like to suggest an alternative should you find the costs prohibitive or find yourself constrained in market access. It would appear yo...
by Rainmaker
Sat Sep 01, 2012 4:22 pm
Forum: Opinions
Topic: Do you use online leads services?
Replies: 28
Views: 117912

Re: Do you use online leads services?

I have yet to see an agency prosper over time using on-line lead services. They are commodity transactions, low premium, typically distressed, low value assignment of the agent as a value add, and very, very, very poor retention rate. The better approach, in our experience, using a combination of co...
by Rainmaker
Sat Sep 01, 2012 4:01 pm
Forum: Opinions
Topic: Track Your CSR's Daily Sales Activity
Replies: 14
Views: 13440

Re: Track Your CSR's Daily Sales Activity

Yikes....daily sales reports for CSR's? Watch your turnover spike and morale drop like a rock. That's one of those ideas that sounds great to the bean-counters, and pencils out on the chalk-board.....then when you implement half your people are gone within 12 months and so is most of your revenue! R...
by Rainmaker
Sat Sep 01, 2012 3:47 pm
Forum: Opinions
Topic: Independent Agency Growth Rate
Replies: 4
Views: 5692

Re: Independent Agency Growth Rate

There are many different segments to the retail insurance broking industry, ie the 1) globals; 2) top 10 public; 3) top 100; 4) the SuperRegionals; 5) the Regionals; 6) single-location agencies; 7) small independents under $1M of identify just a few - all of them have different mode...
by Rainmaker
Sat Sep 01, 2012 3:35 pm
Forum: Opinions
Topic: Keeping Track of prospects
Replies: 12
Views: 9901

Re: Keeping Track of prospects

I would encourage you to consider that solutions are predicated on the exact need - the more laser focused you are on your specific needs should reveal the solution best for you. For example, larger firms with hundreds of producers spread out over contiguous markets will naturally require a robust C...
by Rainmaker
Sat Sep 01, 2012 3:17 pm
Forum: Opinions
Topic: Splits
Replies: 1
Views: 2405

Re: Splits

Compensation models vary greatly within the industry based upon alignment, market-space, product mix, geographic footprints, etc., so a tough question to answer given the limited amount of information you are providing. It would appear there are three drivers: 1) compensating you for your production...
by Rainmaker
Sat Sep 01, 2012 3:03 pm
Forum: Hard-to-Place Accounts
Topic: Life Agent working for P&C Agency
Replies: 1
Views: 3434

Re: Life Agent working for P&C Agency

Depending upon the size of the P/C agency, it's product mix, and market alignment - a life producer can find great opportunity working with a P/C shop. There are many variables to consider - however suffice it to say that, in general, if you take overall agency revenues and multiply by .02 you will ...
by Rainmaker
Mon Aug 29, 2011 8:43 pm
Forum: Opinions
Topic: Book recommendation for starting an agency?
Replies: 11
Views: 6812

Re: Book recommendation for starting an agency?

In addition to reaching out to different agency owners for advice/counsel/mentoring, etc., you may wish to look at the publications offered by Hales and Marsh-Berry. Both publish outstanding information and you will pick up on trends, industry metrics, and best practice operating methods which can g...
by Rainmaker
Fri Jan 28, 2011 10:45 pm
Forum: Opinions
Topic: Hiring agents and CSR's
Replies: 4
Views: 3540

Re: Hiring agents and CSR's

Hiring agents(producers) is a much different process than would apply to CSR's. For all the hiring methodologies, personality tests, skills tests, topgrading, Caliper, DISC, etc., I think all of us are students and there are no experts! I would however encourage the following for you to consider: 1)...