Two New Jersey insurance agencies have joined forces to launch a master agency named Consolidated Insurance Agents.
Pavese McCormick Insurance Agency, of Monmouth Junction, and Valvano Insurance Agency, of Linden, say the master agency will offer several several partnership affiliation methods. A handful of larger firms seeking equity positions are to be balanced with affiliates seeking the benefits of aggregating their premiums, the two agencies said.
A master agency is a partnership arrangement in which independent agencies pool some services and premiums.
“Over the last several years, agencies in the Garden State have faced increased pressure to retain their client base; many lack the markets to win against bigger agencies and have a density of competition unequaled in other regions,” said co-founders Michael Varvar.
The agencies say the model allows agents to maintain independence, share services and cut operating costs while freeing-up principals and producers to allow them to concentrate on acquiring new business, retaining clients and increasing revenue.
__
Source: Consolidated Insurance Agents
Topics Agencies New Jersey
Was this article valuable?
Here are more articles you may enjoy.
FEMA Chief Resigns After Six Months, Criticism Over Floods 
Parkland Shooting Wasn’t Multiple Incidents With Multiple Deductibles, Court Says 
Five Reasons Why the US Escaped a Hurricane Landfall So Far This Year 
What Progressive and GEICO Q3 Results Reveal About Auto Insurance Profit, Growth 
