SIAA Grew Premium to $5.7B, Signed 410 New Member Agencies in 2014

February 24, 2015

SIAA (Strategic Insurance Agency Alliance) said it grew premium by $901 million in 2014 to $5.7 billion, with 80 percent of its growth coming from existing member agencies. Premium growth with SIAA’s strategic partner companies was up more than $576 million in 2014.

Along with this organic growth, SIAA signed 410 new member agencies in 2014, bringing the number of member agencies signed since its inception in 1995 to more than 5,300. SIAA said this growth marked the sixth consecutive year that SIAA has added more than 400 member agencies in one year.

SIAA also announced its involvement in several initiatives in 2014:

  • Business Insurance Advantage, an educational program on the small commercial lines business, launched and had 125 member agencies actively participating by year end.
  • Agency Foundation, a program to assist new member start-up agencies, rolled out nationally.
  • A new website with an enhanced member area was launched.
  • SIAA Training & Learning Center had more than 1,000 member agencies register in 2014.
  • Alliance MarketFinder, SIAA’s member agencies website for placing difficult-to-write excess and surplus lines and specialty market business, continues at a growth rate exceeding 20 percent.
  • Insurancedeals4u (ID4U), a consumer-facing web portal SIAA rolled out in 2004, had more than 25,000 site visits, providing 4,500 consumer leads to member agencies in 2014.

SIAA, a national insurance agency alliance, has signed more than 5,300 member agencies through 48 master agencies across the country since its inception in 1995. Of that member number, SIAA and its master agencies have created over 3000 new start-up agencies coming predominantly from former captive agents. According to SIAA, an estimated 13 percent of all independent agencies in the U.S. are or have been signed members of SIAA.

Source: SIAA (Strategic Insurance Agency Alliance)

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