Notice almost all of these platforms end up throwing up their arms because it’s not working the way the expected to work and they end up turning to Agents in desperation. Agents have much better options, such as being part of an Agency Network with profit sharing contracts. The few agents that will use them will be very small agents who are hanging by a shoestring and probably writing unprofitable business. I further noticed by doing a quick check on LinkedIn that the top level executives of this company have very little insurance experience, this has been the prevailing trend with nearly all these online insurance agency models. Innovation is wonderful, however when you have people who don’t know what they are doing on a platform that has not worked for over 20 years, what are the investors thinking?
Notice almost all of these platforms end up throwing up their arms because it’s not working the way the expected to work and they end up turning to Agents in desperation. Agents have much better options, such as being part of an Agency Network with profit sharing contracts. The few agents that will use them will be very small agents who are hanging by a shoestring and probably writing unprofitable business. I further noticed by doing a quick check on LinkedIn that the top level executives of this company have very little insurance experience, this has been the prevailing trend with nearly all these online insurance agency models. Innovation is wonderful, however when you have people who don’t know what they are doing on a platform that has not worked for over 20 years, what are the investors thinking?