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.
Remember the Fall of Patriot National? Trial in Suit vs. Mariano’s Lawyers to Begin 
Hellman & Friedman’s Hub International Seeks $3 Billion in IPO 
El Niño Likely Strongest in 75 Years, US Forecasters Say 
Allianz Unit to Cut as Many as 1,800 Jobs in Push to Adopt AI 
