$90,317,326 2018 Total P/C Revenue
Established in 2009, Agency Network Exchange LLC (ANE) is a network of more than 70 independent insurance agencies in New Jersey, Pennsylvania and Maryland that place more than $750 million in written premium.
Members maintain independent ownership in their book of business as all business is written with their agency name on the policy, according to Elizabeth Schenk, CEO, who added that members own the book of business, even if they decide to leave. Members maintain carrier relationships and are licensed directly with each of the carriers.
The cost to join ANE is about $12,000 a year in fees, with no start-up cost or exit penalty should a member choose to leave. All members participate in profit sharing as well regardless of the size of their book.
Schenk believes organic growth opportunities are a critical component for any successful network. “This will not occur by merely adding more agencies,” she said. “Each agency must have the ability to grow or else they will hinder the success of the group.”
That’s why ANE chooses to be “large enough to be strong, but small enough to be nimble,” she said.
“In this ever-changing industry, you have to be able to react quickly and adjust,” Schenk said. “We are unique in that our member agencies are growing organically in the double digits and profitable, which is a huge attraction to our carriers.”
ANE touts another benefit: a simplified membership contract. “Our contract is quite simple with very limited cost, constraints or the inability to easily exit. Our members stay because they see the value,” she said.
Members are offered a number of additional services including coaching, training, exclusive vendor deals, technology offerings, marketing, perpetuation planning, agency valuations, business planning and dedicated field staff who work directly with each of the agencies.
“We strengthen the IA by increasing their revenue through robust compensation packages, contingency and incentives; providing growth opportunities, scale, spread of risk, intellectual capital, and become an extension of their agency.”
ANE also holds meetings, educational seminars and events at no cost to members.
Schenk, who took the helm as ANE’s CEO in June 2019, says there’s more to come for member agencies. “We
continue to add resources based on the needs and requests from our members,” she said.
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