Build Your Insurance Agency On Your Schedule

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Build Your Insurance Agency On Your Schedule
By: Michael Miller, Smart Choice® State Director

Building an insurance agency is challenging, whether you’re a new insurance agent just starting out on your own or a seasoned agent adding a new line to your agency’s offerings. Developing relationships with carriers takes time and effort. Joining a cluster group is an effective way to fast-track those relationships and gain access to markets that you could not on your own.

But becoming a member of a cluster group can present its own set of issues. Some charge fees for starting and maintaining your membership. Others require agents to share a large portion of their commission, bonuses, and other supplemental compensation.

Often, cluster groups require agents to make a minimum monthly commission with carriers. But savvy agents know that not all months are created equal in the insurance business. Sales can fluctuate month-to-month and quarter-to-quarter. Requiring agents to meet monthly commission requirements can be unfair and unrealistic.

Smart Choice® Agents understands that not all agents have the same sales goals. Some are go-getters trying to maximize monthly sales, while other choose to grow more slowly. That’s why we do not require our agents to meet or exceed monthly commission goals. Our agents have the opportunity to make 100-percent commissions and keep all the supplemental compensation, bonuses, and trips they earn.

Whether you’re hoping to build a million-dollar agency in less than a year or slowly build your commercial insurance offerings in 2016, choose your cluster group wisely.

Sources:
http://www.thesimpledollar.com/how-to-start-your-own-insurance-business/

You Don’t Have to Use Our A+ Insurance Carriers, but Why Wouldn’t You?

Report card on a desk
Report card on a desk

You Don’t Have to Use Our A+ Insurance Carriers, but Why Wouldn’t You?
By: Michael Miller, Smart Choice® State Director

As an insurance agent, you know that not all insurance carriers are created equal. The experience your clients have as policyholders and you have as an agent can vary significantly between companies. That’s why it pays to be choosy when pursuing appointments with insurance carriers.

Excellent Carriers for Policyholders

The experience policyholders have with your carriers can be a significant factor in whether or not they renew with you. To satisfy your policyholders, your carriers should have a reputation for excellent customer service and offer competitive rates.

Here are JD Power’s rankings of the nation’s top carriers based on a consumer survey:

Where do your current carriers rank? Are they carriers of excellence or just barely making the grade? Many of Smart Choice®’s top-rated carriers perform well on the JD Power surveys.

Excellent Carriers for Insurance Agents

When you’re deciding what appointments to pursue, you also need to consider whether or not the carrier is a good fit for you professionally. Does the commission rate and other compensation make it worth writing the policies? Will carrier representatives respond to your needs efficiently and effectively? Does the carrier have the resources to write the policies your clients demand?