From Zero to $200,000 in Five Months: A Fast Track from Captive to Independent
Establishing yourself as an independent insurance agent is never easy. It’s even harder when inflation is high and insurance rates are rising. Nevertheless, Vance Whitwer, Director of Insurance Services at LFG Insurance Services in Des Moines, Iowa, has experienced tremendous success since going independent in April 2023. In just five months, Vance won 66 new customers, and wrote roughly $200,000 in new business. Agency network support helped power this impressive performance.
Going Independent to Provide Even Greater Protection for Clients
Vance served in the military and is also a former firefighter. In his spare time, he provides security for a local church. All of these endeavors actually share a common thread with insurance – whether he’s putting out fires or selling insurance policies, Vance protects the people around him, and he decided going independent could help him protect them even better.
Like many insurance agents, Vance worked as a captive insurance agent before going independent. For almost 20 years, he worked for American Family Insurance. “As a new agent, it’s easier to work with one carrier,” Vance observed. “At the same time, that limits the challenges you can solve for a client.”
Eventually, Vance realized he needed to go independent if he wanted to serve his clients well. “I had no clue what it took to go independent,” he admits. He had plenty of insurance experience, but working for one carrier is a lot different than forging relationships with many.
Newly minted independent agents quickly discover that carrier markets aren’t easy to come by. Most carriers don’t want to work with agents who don’t have impressive books of business – something new agents can’t build with access to carriers. It’s a frustrating catch-22.
Fortunately, Vance quickly overcame this common obstacle by joining an agency network. “Smart Choice offers access to carriers that otherwise have production requirements, making it a lot easier to get started,” he says.
Accelerating Quickly
Vance has experienced great success since going independent in March 2023. He became adept at using the Smart Start Personal Lines program, and he’s also made several commercial sales using direct appointments and the Smart Start Commercial Lines Program.
Mike Miller, Vance’s Smart Choice state director isn’t surprised. “Vance is a quick learner, he has the intellect, and he’s able to look into the future and take the next steps needed to be successful,” he explains.
While Vance takes the initiative, Smart Choice provides a solid foundation for his success. “Teaming up with Smart Choice makes it a lot easier to serve your clients,” Vance explains. “You’re in a better position to eliminate coverage barriers, while providing the best solution for each client’s unique situation.”
Back when he was a captive agent, Vance had to use a cookie-cutter approach because he only had access to one carrier.
Now he has multiple carriers to choose from. One might be better for younger drivers, while another might be better for mature couples. Some options are perfect for high-net-worth individuals, while others work well for more budgetconscious clients. “It’s so much easier to find a niche that suits each client,” Vance says. “With so many choices, you can actually be a trusted advisor and guide them through all the options.”
Earning trust is important for multiple reasons. He wants to help his clients, but he also needs to build his brand. As a captive agent, he could lean on the reputation of his company, but now his agency needs to have its own market presence. He’s been using digital marketing, Facebook, LinkedIn, centers of influence and referrals to build awareness of his agency. Positive word-of-mouth advertising makes all the difference.
Committing to Growth
Vance signed up with Smart Choice because he wanted carrier access and agency support that would enable him to hit the ground running. That’s exactly what Smart Choice provided.
Of course, it wasn’t always a walk in the park. Establishing yourself as an independent agent takes hard work and there’s a steep learning curve. “Mike gives me a lot of credit for understanding how it worked,” Vance says, explaining that he had to learn quickly and that he was frustrated at times. “Mike was very patient and put up with all my texts, questions and calls.”
When asked about his philosophy, Vance points to the importance of a strong work ethic. He has high expectations for others, but he also holds himself to a high standard. “I won’t accept complacency,” he says. “That’s not an option. You’ve got to keep striving. Success requires setting goals, keeping score, being honest with yourself, implementing systems and learning from your mistakes as you progress.”
He also believes in the importance of empathy. “I think it’s important to be genuine and to sympathize with clients’ situations,” he says, explaining that he has to stand in his clients’ shoes so he can determine the best solution as their trusted advisor. “When you know your product, you take a holistic protection approach and you build and maintain those relationships, you find success,” he adds.
Ready to Make the Leap?
If you’re a captive agent who feels limited by only one solution, consider Vance’s story. With the help of a network, the journey to independence can be fast and fulfilling. Do you want to see how Smart Choice can help you quickly an independent agency?