New independent agency

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JamesMcwhorter
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Joined: Thu Jan 31, 2013 2:37 pm

New independent agency

Post by JamesMcwhorter »

In the process of trying to setup a new independent insurance agency
Would appreciate any info in companies that are willing to work with
Somebody new in the business, the best company to try and acquire E&O
For a new agency, and the best management system for a small agency.
I recently acquired my license in Ohio for P&C and I'm trying to get this new
Agency setup. I have plenty of financial backing to start the business. Any info
Will be much appreciated. Thank you
lonestar
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Joined: Thu Dec 18, 2008 8:19 pm

Re: New independent agency

Post by lonestar »

Might be tough to obtain direct appointments without experience. The market is very tight right now. Your best bet would most likely be to seek out an MGA so that you can get access to the companies you need.
AgencyEquity
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Re: New independent agency

Post by AgencyEquity »

Going through an wholesaler (MGA do not underwrite preferred business as they are really retrained to underwrite specialty business) to access the larger preferred carriers is in most cases, not the way to go. The absolutely best way to go it to becoming a member of a cluster, alliance or network group. You go to one place to access nearly all your preferred/standard markets and in most cases, you either give up a very small percentage of your commissions or pay a monthly fee. There is also icing on the cake, most of these groups provide you with carrier profit sharing. In addition, in many cases, the appointment is under your agency name and you place the business via the carriers online system. Here are some articles written on this:

What do Cluster Groups Offer...
http://www.agencyequity.com/articles/44 ... oups-offer

An Overview of Agency Clusters, Alliances, or Networks...
http://www.agencyequity.com/blog/25-an- ... r-networks

You can also search for a listing of these groups by going to...
http://www.agencyequity.com/listings/in ... -alliances
http://www.agencyequity.com
The Premier Website for Insurance Agency Principals, Executives, and Producers with Executive-Level Business Needs
heretohelp
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Joined: Wed Feb 06, 2013 10:46 am

Re: New independent agency

Post by heretohelp »

Hello James, Congratulations on your new agency! I wish you great success! My names is Doris Gonzalez and I represent QQ Solutions. We provide the best value in agency management systems. There are no set up fees or contracts which is helpful when starting up a new agency, but you don't compromise in quality. Once we have a chance to learn more about your agency we can recommend the right product that will help you save time and sell more insurance without breaking the bank. Feel free to contact me at dgonzalez@qqsolutions.com. I am confident we are the partner for you! best regards, Doris.
jtmgolf00
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Joined: Thu Feb 21, 2013 3:48 pm

Re: New independent agency

Post by jtmgolf00 »

James re: management systems. You should at least look at the new system from quikfuzion.com . Perfect for small agencies, completely cloud based, and priced right. Take a look, you will not be disappointed.
Prospect
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Joined: Mon Mar 11, 2013 11:31 am

Re: New independent agency

Post by Prospect »

If you need help starting an independent agency we have been starting agencies for 30+ years. You can get more information at http://www.startaninsuranceagency.com. We provide a step by step process to open your own agency. If you have questions you can give me a call. 1-877-221-7241 Hope I can be of service.

Regards,
Ryan
policyspot
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Joined: Wed Mar 27, 2013 12:41 pm

Re: New independent agency

Post by policyspot »

Another good thing to remember when starting a new agency is the workload you are going to have to do on certificates, and having questions from your clients. Having a self service portal is going to be key to being able to grow quickly without all the headache. You should look at our Mobile Insurance App platform to help you with this. There are some things management systems just can't do unless you have a ton of start up capital. https://www.thepolicyspot.com/index.php/broker-agent
shiftins
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Location: California
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Re: New independent agency

Post by shiftins »

E&O was the hardest thing for me to do as a start up (besides appointments). It can cost a new agency like $2000+ I say start looking there.
AEesley2
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Joined: Fri Oct 18, 2013 1:59 pm

Re: New independent agency

Post by AEesley2 »

Hello,

Insurance Noodle offers agents access to multiple commercial and personal lines carriers through our direct appointments. You can quote your risks online and get multiple quote results back within minutes of your submission. Signing up is easy, your account gets activated immediately so you can actually get same day appointments and start quoting right away. Check us out at www.insurancenoodle.com and feel free to contact me with any questions : ) .

MEMBERSHIP BENEFITS
• Same day appointment
• Immediate access to up to 11 carriers standard lines carriers - personal, commercial, E&S (up to 16 markets)
• One short online application for multiple lines
• Real multi-carrier quotes in minutes
• Commercial and Personal lines quoting
• Personal lines solutions including Home and Auto
• Solutions for over 1,700 commercial classes (BOP, Auto, Work Comp, Prof)
• No minimum production requirements

Alex Eesley
alexandra.eesley@willis.com
www.insurancenoodle.com
insuranceismylife
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Re: New independent agency

Post by insuranceismylife »

Someone's bringing back old posts.
Errors and omissions insurance for insurance agents
http://www.insurance-agents-errors-omissions.com
Orlandoni11
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Joined: Sun Nov 13, 2016 11:49 am

Re: New independent agency best clusters

Post by Orlandoni11 »

I am an independent contractor and place commercial P&C business through a local agency.
I am looking to branch out a bit and set up an with a cluster or aggregator. Most of my business is written in New York but I also have some business in NJ, CT and Florida.

Any suggestions on what may be a good fit for me? I heard of Iraquois and read about Insurance Noodle.

suggestion for an agency management system?

Thank you
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