If you’re a Smart Choice® partner, then you understand the benefits of joining an agency network. One of the most common reasons agents join a network is to gain access to carriers and markets that are otherwise unobtainable for them.
But that’s only one benefit your agency network provides. I’ve got 26 more reasons why your decision to join and stay in Smart Choice® is a smart move!
1. You never pay a fee.
Smart Choice® is one of the only non-fee-based agent networks in the country. We don’t charge a start-up fee, monthly fee, maintenance fee, or exit fee—ever!
2. You can earn up to 100 percent commissions.
Smart Choice® has a cap on our commissions split. Once you meet the cap, you receive 100 percent of commissions payable on our program carriers to your agency. This is called Leadership Status.
3. You maintain 100 percent ownership of your agency.
You also maintain 100 percent of your policies in force, renewals, and expirations. Your policies in force are yours from the beginning as a Smart Choice member.
4. You don’t split commissions from any carriers you get outside our network or Express Markets.
Use one or all of our carriers — even if they are from the Express Markets network. If you get your own appointment outside the Smart Choice® network, you are exempt from splitting that commission with us.
5. You become part of the largest and fastest-growing agency network in the country.
Smart Choice® represents more than 7,000 agents in 43 states.
6. You get a bigger share of supplemental compensation.
Smart Choice® agents get to keep up to 75 percent of their carrier contingencies and bonuses within the Smart Choice® network and up to 50 percent of supplemental compensation, too.
7. You gain access to top-rated carriers.
Smart Choice® only partners with top-ranked, nationally rated A+ carriers. You can partner with the ones that you like.
8. You get book roll assistance . . . and a bonus.
When you roll your book of business to one or more of our carriers, you may be eligible to receive a bonus on top of new business commissions.
9. You don’t have monthly commission requirements.
That’s right—we’ll work with you on relaxed and reasonable production goals instead of written monthly production requirements.
10. You have access to a wide range of life carriers.
We offer over 100 different top-ranked carriers who offer life, annuities, long-term care, disability, health, and Medicare insurance with no commission split with us. You keep 100 percent of what the carriers pay.
11. You gain access to a broker dealer.
Smart Choice® offers a broker dealer to maintain and grow your variable business.
12. You don’t commit to any roll-overs.
Smart Choice® doesn’t require you roll over your book of business or break relationships with your current carriers outside our network.
13. You gain access to unlimited CE for just $29.95 a year.
Access unlimited CE courses through CE Authority for just $29.95 a year. That’s 212 courses and more than 2,800 hours.
14. You may build an agency website with free design support.
Your Smart Choice® membership gives you access to free website design to drive prospects to your agency and you can keep the website for just $44.95 per month.
15. You purchase an agency management system at a discount.
You don’t need to have an agency management system to join the Smart Choice® network, but we offer several at discounted prices, so you can continue to offer exceptional customer service to your customers.
16. You get your E&O coverage for less.
You need a comprehensive E&O policy that covers all your staff members and any litigation you may face in future. Smart Choice® offers excellent policies at competitive rates and you may be eligible to receive commissions on your own policy at renewal.
17. You may purchase a comparative rater at a discounted price.
You don’t have to use a competitive rater to join Smart Choice®, but we do offer a few at discounted rates.
18. You can take advantage of ongoing support from your State Director.
Your State Director is an excellent resource for building your agency and obtaining appointments with Smart Choice® carriers. Many State Directors offer ongoing trainings and meet and greets with carrier reps to help you make the most of your Smart Choice® membership.
19. You get help with lead generation and marketing.
Your State Director can point you toward formal marketing resources for bringing more customers into your agency.
20. You can take advantage of more than a dozen E&S carriers.
Express Markets™ offers appointments with the nation’s top E&S carriers with no commission split and 100 percent ownership of all policies from day one.
21. You don’t have to make a long-term commitment.
Smart Choice® holds a one-year agreement with an automatic annual renewal at your request. Our competitors are like Hotel California—you can check in, but you can never leave (without paying five figures, at least).
22. You get help selling or transferring your agency.
When it comes time to sell or transfer your agency ownership, Smart Choice® offers help with the transfer to someone in your agency or to another agent in our network.
23. You make more money.
With agency aggregation, you can exceed the contingency and bonus requirements with most Smart Choice® carriers at less than half of the premium base required as a direct appointment.
24. You can expand or sell your agency.
Smart Choice® offers valuation and sales services for agents who wish to purchase an agency or sell one.
25. You have access to financial support for building or buying additional agencies.
From new purchase and financial support to investing in staff or property, Live Oak Bank has a special agreement with Smart Choice agents to finance your growth offering you professional development opportunities with Smart Choice® that are essentially limitless.
26. You have access to the Smart Choice® Agency Business Center.
If you need help maximizing your membership, your agent account on the Smart Choice® website is a great resource. Ask your State Director how to get online and get started.
The Truth About Agency Networks
Have you wondered, "Why should I join an agency network and what are the benefits?" Most people would provide the answer of: “access to markets and carriers!” Although that probably is the biggest reason, the truth is that agency networks offer so much more than that. For more on networks, aggregators, and clusters — and how to pick what's right for you — check out 2019 Issue 1 of the Smart Choice® Magazine.