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Martha Hernandez wants to provide her clients with all the insurance coverage they need, but finding the right match wasn’t always possible in the captive model where she started her career.

Smart Choice VPs Oliver Travieso and David Wilson were recent guests on the Insurance Town podcast discussing commercial and E&S markets with host Heath Shearon.

So, you want to know the difference between an insurance customer relationship management (CRM) solution and an agency management system (AMS)—which one your agency needs, and what the uses are for each. Well, you’ve come to the right place!

Agents are continually looking for ways to grow and create a prosperous business – something that can be tough when the marketplace is in its current state, and money is tight due to economic inflation. So how can agents become, and remain successful, despite the challenges they’re faced with each year? By adhering to certain tried and true principles of success. 

While captive agents are beholden to a single carrier (and their rates), independents are uniquely positioned to help clients navigate the complex world of insurance and find the coverage they need at a price they can afford. Independent agents can beat the hard market by tapping into the excess and surplus (E&S) market.

But in the current market, it can be nearly impossible to become a successful independent agent. Joining an insurance agency network ensures that you have someone negotiating on your behalf for things like commission rates, bonus and incentive opportunities, markets access, and more. The right insurance agency network can make all the difference to a new or struggling agency.

You can’t manage what you can’t measure. My agents and team have heard me say it so many times that I could hear their eyerolls as they read that line.

Maria Del Mar Lopez, the owner and president of MDM Insurance Enterprise, has been in the insurance industry since 2006. Prior to starting MDM, she worked for a several different insurance agencies. She was very good at what she did, but she felt that her success was limited.  She knew she could achieve more … if only she could open her own independent agency.

Strategic Planning and Best Practices: Attainable, Achievable Results for Your Agency

Joining an insurance cluster group is a great way to gain access to appointments with carriers that would be off-limits if you were negotiating on your own. Cluster groups give independent agents power in numbers — a group of agents has more buying power than a single agent alone, leading to more profits.

While many agents join networks like ours simply for help accessing appointments, many agents approach our network seeking ways to diversify their business. In this particular insurance climate, having a diverse range of options to satisfy customers will be crucial to both retention and growth.

Kyle McMackin is the owner of Main Street Insurance. The full-service agency offers personal insurance, commercial insurance and Medicare plans, as well as retirement planning services. The agency also  provides coverage for many high-risk accounts that  standard carriers are reluctant to sign. Network support from Smart Choice has helped Kyle navigate this challenging market.