Search found 165 matches

by AgencyEquity
Wed Sep 12, 2012 6:55 pm
Forum: Opinions
Topic: Insurance Noodle vs. Superior Access vs. Agent Secure
Replies: 42
Views: 210434

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

Online wholesalers do not have a good turn around time, despite what they tell you. I good MGA will help you. You may have to shop but it will save you fustration. Thanks, J.C For preferred business, the best way to get appointed or get access to markets is by joining a cluster or alliance group - ...
by AgencyEquity
Thu Aug 02, 2012 10:47 am
Forum: Opinions
Topic: Independent Agency Growth Rate
Replies: 4
Views: 7490

Re: Independent Agency Growth Rate

I have not seen any numbers on this, however if you really took all agencies out there and gave an average growth rate as far as premiums and revenues, you would probably see a slight decline over the last 5 years. The reason for this is because premiums have declined and compound this with the econ...
by AgencyEquity
Wed Jul 25, 2012 11:29 am
Forum: Opinions
Topic: Insurance aggregators/Groups for personal lines
Replies: 6
Views: 13366

Re: Insurance aggregators/Groups for personal lines

I wrote an article on this very subject, An Overview of Agency Clusters, Alliances and Agency Networks... http://www.agencyequity.com/blog/25-an-overview-of-agency-clusters-alliances-or-networks Also, you can search over 100 of these groups across by state and keyword... http://www.agencyequity.com/...
by AgencyEquity
Sun Jul 15, 2012 11:08 pm
Forum: Opinions
Topic: Licensing Outsourcing? Viable?
Replies: 4
Views: 6803

Re: Licensing Outsourcing? Viable?

I think this is a good idea for mid to large size agency, it is cost effect as this is all that these licensing firms do. You are transferring an very important responsibility, this gives more time for you agency to focus what is does best and that is to grow your agency,
by AgencyEquity
Sun Jul 15, 2012 11:04 pm
Forum: Opinions
Topic: Agency Management System
Replies: 243
Views: 2469455

Re: Agency Management System

When started my Independent Agency over a decade ago there were a small handful of management systems on the market, of course the two big ones, Applied and AMS. The ballgame has changed, there are now well over 20 systems that are designed for insurance agencies and the best thing is, the technolog...
by AgencyEquity
Sun Jul 15, 2012 2:15 pm
Forum: Opinions
Topic: IA start up with a twist
Replies: 6
Views: 7172

Re: IA start up with a twist

There have been all kinds of arrangements out there, the only think I would recommend is that if the agency is in a cluster group, that you plan on joining that same cluster group once you do break off and start your own IA, the reason for this is that you will use those same markets and you will ne...
by AgencyEquity
Tue Apr 24, 2012 7:58 pm
Forum: Opinions
Topic: looking for feedback/advice please....
Replies: 39
Views: 33859

Re: looking for feedback/advice please....

Hi All - To all of those that know the industry well and have been around for a while, I would really appreciate your help/feedback on something. Here's the deal: I've been in the insurance industry for 11 plus years. Most of that time has been with P&C carriers on the claims side. I've been a ...
by AgencyEquity
Mon Apr 02, 2012 11:05 am
Forum: Opinions
Topic: Start up Agency Advice
Replies: 12
Views: 12410

Re: Start up Agency Advice

a company rep is going to not like cluster because any rating tool makes their company stay on their toes with rates to keep getting new business. always think about motives with advice given Carriers do not have to appoint cluster groups, but they the do and the reason they do is because it makes ...
by AgencyEquity
Thu Mar 08, 2012 6:07 pm
Forum: Hard-to-Place Accounts
Topic: Going from Retail to Wholesale in CA
Replies: 1
Views: 2937

Re: Going from Retail to Wholesale in CA

Does your E&O policy cover you for wholesale and SL activity, you may want to look into it.
by AgencyEquity
Sun Mar 04, 2012 5:25 pm
Forum: Opinions
Topic: Farmers vs. Independent
Replies: 86
Views: 647749

Re: Farmers vs. Independent

As an Ex Farmers agent I can tell you that you are wrong. There are several reasons that there are more Farmers agents going IA vs SF and Allstate: 1) They are less discriminate in taking new agents. SF an Allstate are much more challenging to get into. 2 ) At Farmers you don't own the book and can...
by AgencyEquity
Sun Mar 04, 2012 10:50 am
Forum: Opinions
Topic: Farmers vs. Independent
Replies: 86
Views: 647749

Re: Farmers vs. Independent

"Farmers is the armpit of the insurance industry. for good info go to the UFAA website." Farmers Insurance has launched many carriers, this group also seems the most prepared to become independent agencies as compared to Allstate or State Farm. I beleive their model is probably the closest...
by AgencyEquity
Sun Feb 26, 2012 10:57 pm
Forum: Hard-to-Place Accounts
Topic: Questions about starting an MGA
Replies: 10
Views: 20972

Re: Questions about starting an MGA

I have put together a guide to starting an insurance agency, though it has been written for starting an Independent retail agency, there are some sections that may apply to starting a wholesale agency. Nevertheless, one of the other replies has nailed it, you really need to have experience at least ...
by AgencyEquity
Sun Feb 26, 2012 10:47 pm
Forum: Opinions
Topic: Where to locate a NEW branch?
Replies: 3
Views: 4283

Re: Where to locate a NEW branch?

Having additional agency branches is generally a thing of the past for smaller to mid-size agencies (essentially agencies that are not national or mutli-state), unless they are a non-standard auto agency that caters to a walk in clientele. What has changed over th last 15 plus year is the obvious, p...
by AgencyEquity
Wed Feb 22, 2012 12:10 pm
Forum: Opinions
Topic: Should I accept Allied Appointment?
Replies: 10
Views: 13067

Re: Should I accept Allied Appointment?

I think there is a marketplace for everything and I think Allied fills a portion of this marketplace, but they are not my choice. I always preferred the companies that allowed me to underwrite the risk and trust me based on my loss ratio. Also being the lowest cost provider does not attract the best...
by AgencyEquity
Sun Feb 19, 2012 10:28 am
Forum: Opinions
Topic: Insurance agencies for sale ?
Replies: 32
Views: 133969

Re: Insurance agencies for sale ?

AgencyEquity: Could you give the reasons you believe starting an agency is a better option than buying one? I have an opportunity to buy one and since I was already planning to start one I thought it would be nice to go in with income already streaming. Good question. If you don't have an existing ...