The Smart Choice Agents Program, which provides independent insurance agencies with access to personal and commercial lines markets in 41 states, said it has added nearly 400 new agency partners already this year, bringing the total number of agencies in the program to just over 5,000.
Overall, the company said it has experienced 17 percent growth in 2016, which has come on top of nearly 15 percent growth in gross revenues in 2015.
The network, which began in 1994, also boasts 85 insurance carrier partners.
“These partnerships allow us to provide the top markets and products in the industry, to agencies, without having to charge fees,” said Executive Vice President Paul Taylor. “The addition of new agency locations allows us to see massive growth in the amount of commission we are able to pass on to our agents.”
The company allows its independent agency members to own their own books of business and says volume requirements with its carriers tend to minimal. It does not charge startup or monthly fees; instead it relies on commission sharing up to a cap, after which agencies get 100 percent of commissions.
Smart Choice ranked 11th among Insurance Journal’s Top 20 Agency Partnerships serving independent agencies based on $48.5 million in total property/casualty revenues for 2014.
In addition to its traditional program offering market access, the company offers an online platform called Smart Start for agencies to access carriers and sales and marketing services.
Taylor said Smart Choice has committed to adding 1,000 additional locations and expanding the scope of products both in personal and commercial lines for their agents this year.
The company said it added 306 locations in the first quarter, and 440 total additional locations so far this year.
The Smart Choice Agents Program is owned by Worldwide Insurance Network Inc. (WIN), headquartered in High Point, North Carolina. Other divisions of WIN are the Smart Choice Franchise Corp., provider of Smart Choice Insurance Centers.
Related:
- How Agents View Agency Aggregators
- Insurance Agency Growth, Profits Slipped in 2015 on Oil Bust, Soft Market: Reagan
- What Agents Want for Future Growth: Channel Harvest Survey
- Insurance Journal’s Top 20 Agency Partnerships
Topics Agencies
Was this article valuable?
Here are more articles you may enjoy.
FBI Says Chinese Hackers Preparing to Attack US Infrastructure 
Wildfires Are Upending Some of the Safest Bets on Wall Street 
Why New York’s Attorney General Objects to Trump’s Bond Insurer 
North Carolina Adjuster and Son Charged With Embezzlement in Roof Jobs 
