Have you ever thought about becoming an independent insurance agent? There are a lot of captive agents today that are trying to figure out how to make more money for the time and effort that they are putting into their agencies. More than likely you are one of them or you wouldn’t have found us. We help a lot of Farmers, State Farm, Allstate and Nationwide Agents make the transition from a captive agency to an independent agency. We know that there are three basic areas that create challenges for agents making the transition. Agents Alliance is here to help you overcome obstacles.
First: Access to Markets – Some carriers can be very picky about who they give access to so you need to know what they want and what they expect before you start that process. It also takes a lot of man hours going back and forth with company people just to get thru the application process which adds costly time to your start up process.
Second: Setting up your technology- As a captive agent the company usually provides an easy to use platform that you would use to quote and issue new business and manage your renewals and client database. When you become an independent insurance agent you now are placing business with up to 100 different carriers. Some commercial, some personal, some you write the entire account with one carrier and sometimes they are spread across three or four carriers. As your renewals begin to come in a year from now you need a system that allows you to pay close attention to each of them to ensure that your clients are still properly covered and are getting the best value. Test driving these management systems then getting them set up in your agency again takes valuable time.
These concerns shouldn’t scare you away from making the jump to independence… it is well worth it! Take for example most captive agents close two accounts for every ten accounts they quote. Those other eight accounts are being written by an independent insurance agent. With a close rate that is around 80% of the business that you quote vs 20% of the business you quote you will see exponential growth in your agency! The key is working with someone like Agents Alliance to remove all the stress and headaches so you can get busy issuing policies.