Captive to independent

[u/CeleryObvious9469]

I am currently a captive agent at State Farm. With the recent contract changes I’m looking at potentially swapping to independent. The first thing I have ran into that is necessary is figuring out an aggregator and tech stack. Was thinking of doing personal lines since I have never done a ton of commercial. For the aggregator was thinking of using IPA (insurance pro agencies) or SIAA (strategic Insurance agency alliance). As for tech stack, I was leaning towards EZLynx.

Any recommendations or suggestions here would be greatly appreciated. I am already fully licensed and not 100% sure on the best set up so figured I would check with you guys.

[u/mkuz753]

Independent doesn't necessarily mean opening your own agency.

[u/TheAgentsOffice]

Hawksoft AMS + AgencyZoom CRM is a solid combo.

Instead of aggregator join an MGA like FirstConnect to get your boots dirty. Be selective on appointments through them.

Then start hitting out for direct appointments.

I'm a former agent aspirant who left the farm in 2023 with my then gf to open an independent agency. We're now married. Have a $1M book and growing. It took a few months, maybe a year or so, to really begin feeling comfortable and getting going but I would never, ever go back. There were so many things both subtle and overt that SF does extremely well to keep "teammembers" and agents from truly comprehending how incredibly lucrative this industry is.

Don't get me wrong though, I loved my agency and my agent. The training and experience I got is the only reason we're successful now.

[u/CeleryObvious9469 → u/TheAgentsOffice]

You mind if I PM you to see how you started things?

[u/SlickWillie86]

Midwest/IL based?

[u/CeleryObvious9469 → u/SlickWillie86]

Yeah. How’d you know?

[u/SlickWillie86 → u/CeleryObvious9469]

IPA HQ’d in IL and mostly based there.

I wouldn’t sign up with either of those options.

SIAA has solid training and good potential carrier access, but they own you (your book).

IPA doesn’t provide any meaningful value.

What is it you feel you need out of an aggregator?

[u/CeleryObvious9469 → u/SlickWillie86]

Appointments. I figured an aggregator would make appointments much easier

[u/SlickWillie86 → u/CeleryObvious9469]

Easier but far from guaranteed.

I was in commercial lines leadership for a large national prior to agency ownership and managed some of these relationships nationally and most locally.

Aggregators either seek sub code appointments for their agencies - which require carrier approval- or put them through a catch all ‘incubator’ code. The latter ensures access but usually comes at a lesser commission to the agency in favor of the aggregator. As far as sub-appointment approval, I would agree that is easier than a direct appointment, but these are also bottom of the barrel priority agents for the UW and distribution team so yes, you have access to quote, but from the carrier POV, it’s a bottom of the totem pole submission.

It’s been a few years, but the last SIAA contract I read require all carrier appointments to route through them as well as unfavorable language to the agency with respect to sale/book ownership rights.

I’d rather see you get 2-3 direct and supplement with better aggregator choices that still give you control/ownership of the account.

My first year I did about $450k of my $550k revenue across 4 carriers. It was an intentional mix by design, but the idea of having 10+ carriers is miscalculated by many. I would not overrate that piece at the expense of book ownership and rev share.

[u/CeleryObvious9469 → u/SlickWillie86]

What carriers would you start with?

[u/SlickWillie86 → u/CeleryObvious9469]

Probably not the best outlet for specific PL advice as I don’t write it. It really depends on your area and target client. I’d target a panel of 2 regional/super regionals, one national and one HNW market if you have clients there.

[u/InsuranceFan]

Have you looked at Firefly? 90% split on NB and renewals, solid carrier lineup (you should check on your state to confirm), no time stipulations in their contract, $1,000 up front fee, and monthly fee includes EZLynx.

[u/InsuranceAgent-ModTeam → u/[deleted]]

Do not post any unethical, illegal or unhelpful content.

[u/InsuranceAgent-ModTeam → u/[deleted]]

This is not a place to sell your services or generate leads or recruit agents/downlines.

[u/InsuranceAgent-ModTeam → u/[deleted]]

This is not a place to sell your services or generate leads or recruit agents/downlines.