Renaissance Alliance Insurance – #7 Agency Partnerships 2019

$109,262,128 2018 Total P/C Revenue

Founded by agencies for agencies 20 years ago, the Renaissance Alliance Insurance Services LLC (RAIS) network thrives on helping independent agencies grow premium, profits and equity far beyond their peers.

According to J. Bruce Cochrane, CEO of Renaissance Alliance Insurance Services, the network leverages technology, business services and market influence to empower member agencies to grow strategically and maximize revenue.

He says RAIS is distinct from other agency groups because it supports members with a strong infrastructure that includes a staff of 80-plus full-time insurance experts, business process outsourcing and software engineering expertise.

“Services include account placement, a host of back-office processing, employee training, marketing support, acquisition support and software offerings focused on helping agencies measure and manage their businesses,” Cochrane said. “Our growth partners, a team of industry veterans focused on driving organic agency growth, help our members uncover and execute growth-focused initiatives.”

Renaissance has no entrance to join or exit fees or penalties and the cost of being a member is typically less than 1% of total premium, according to Cochrane.

Member agents are eligible for profit-sharing from all RAIS standard market carriers, regardless of the premium amount the agent places with the carrier; on average RAIS members receive 2.5 times the profit share they could receive as stand-alone agencies, according to the organization.

RAIS members retain exclusive ownership of their book and total independence, according to Cochrane.

There are reasons carriers support RAIS, too.

“Carriers are attracted to our focus on driving organic growth and ease of doing business,” he said. “They also benefit from predictable long-term profitability and a streamlined approach to driving distribution priorities that are underpinned by a data-driven management culture.”

RAIS agents continue to represent all current carriers plus up to 40 additional carriers and wholesalers.

Renaissance members have access to a group E&O program.

Why join RAIS? According to Cochrane, most of its agency members grow at twice the national average, while its top-quartile members grow four to five times the national average.

“This steadfast focus on growth underpins everything we do,” he said. “Our technology and services empower agency owners and staff to focus on activities that drive sales and retention.”

Cochrane sees agency networks continuing to evolve beyond simple access to markets and profit-sharing benefits.

“Networks that thrive will provide agencies with access to skill, scale, and capital required to grow and differentiate, all while optimizing revenue opportunities and enabling greater independence,” Cochrane said.

Topics Mergers & Acquisitions Agencies