In 2008, Lee Ann Pridgeon became a first-time agency owner when she purchased the Smart Choice® agency she’d worked at for 15 years. She now owns eight agencies across the state, and six of them came to her through her local network of Smart Choice® agents.

Bryan Clinkscales’ relationship with Smart Choice® started early on in his agency’s history before his father’s retirement. “A mentor of mine introduced us to Smart Choice® and we did a contract, which gave us the chance to get some markets.” As the years went by, Bryan’s agency grew. When he acquired another Smart Choice® agency years later, he had a chance to look at all the different programs Smart Choice® offered.

Choosing a network partner can make or break your business. Independent agents should consider these four key characteristics of a network before committing to an insurance agency network.

Increasing numbers of new agency owners, existing independents, and former captive agents are looking to join agency networks to compete in a tough insurance market. But how do you choose the right agency network partner?

Like many people who wind up in the industry, Lee Ann didn’t plan to become an insurance professional. She fell into the industry, and ultimately realized it was the right career for her. Once she had dedicated herself to insurance, she needed to find ways to grow. Over the years, she’s done that with incredible success — and with the help of the Smart Choice network.

Agency Networks have historically been viewed as a great way to access markets, which is certainly a value proposition of most networks, aggregators, and cluster groups. However, the typical costs of participation make the financial equation puzzling. 

As we approach the halfway point of 2022, we continue to see the ripple effects on our industry of economic instability wrought by the pandemic. Although we’ve been seeing indications of a hard market for some time, the state of the insurance industry shows no signs of reversing this trend and it continues to tighten from a risk perspective.

One of the most destructive sales myths in circulation is how the “bulldog” insurance agent finally got the contract, the deal, the sale, after months of constant work. This myth is held up as the epitome of what sales is all about. For the vast majority of insurance agents, the sale is not worth hundreds of thousands in commissions.

E&S:

Clutch Coverage in a Changing Market

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If you’re a captive who is experiencing challenges but also feeling lost about how to transition into the independent world – an independent agency network can help guide you.