Agency Cluster Questions

I'm surprised no IAs on here can seem to answer what their typical loss ratios are and answer the question...or maybe im nkt making sense? If you don't know the "median" loss ratio (the number you hit most frequently, and not significantly influenced by outliers...ie real bad loss yrs), what is your "average" annual loss ratios? What do the carriers usually require for you to get profitability bonus? Since I'm moving to IA, I'd like to try and project how likely getting bonus is, or isn't. Seems like a reasonable question to me;)
The SIAA Contract specifically states basically we can not give out info like that. Whatever master agency your talking to will let you talk and look with them if they are good and want to grow.

I'll just say this. 8 years as a captive 3000 policies 2 bonus years because of the hit this to get that and maybe you get a bonus. I was highly profitable 7 of those years in a hail state.

2 years as an IA and boom 2 years I have been receiving bonuses quarterly and annually.
The master agency is the key, mine never bothers or talks to me unless I ask them, then they are there and have never once said pick up production.

Best decision I ever made in the last 10 years was going IA
 
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Did Roxiepup make a decision yet? I SO want to know!

On loss ratio, the lower the better, lol. You definitely don't want it more than 50% in my experience. The acceptable range typically is somewhere between 40-60%. Of course that all depends on the BOOK and the head honcho's expectations! PL or CL? PC 2 or PC 10? Storm claims that can be kinda/sorta deducted? Shock losses? Lingering reserves that are hitting you because no one's questioning them? There's no easy answer to that one.
 
Did Roxiepup make a decision yet? I SO want to know! On loss ratio, the lower the better, lol. You definitely don't want it more than 50% in my experience. The acceptable range typically is somewhere between 40-60%. Of course that all depends on the BOOK and the head honcho's expectations! PL or CL? PC 2 or PC 10? Storm claims that can be kinda/sorta deducted? Shock losses? Lingering reserves that are hitting you because no one's questioning them? There's no easy answer to that one.

Thanks for checking in InsureGeek:)

No, I haven't yet! I was pretty sold on siaa as I really felt like (and still do) I have a great report and trust level built with my siaa master agency rep, who I like a lot. But at the last minute before pulling the final trigger with them and signing the contract (that we worked very hard to negotiate and modify, investing a lot of time into all of it!) I thought I should contact "that Shawn guy"'s (as many on these blogs like to Reffer him as) cluster and "just see" what they said. I felt like I had looked at everything else anyway (probably more than most) so, I thought, "why not just look at ONE last one.........then I can feel even better about my decision going with siaa".....;)

So, Shawn will probably figure out who I am after this posting.......but basically I'm debating between his group (PGI) and SIAA. I still have some things to sort through though with PGI, to see if it truly would be a better match for me than SIAA. I'm still unsure to be honest but need to dial this in ASAP. But new "surprises" (or at least "understandings") keep coming up about both groups. And, I don't like surprises after I've already signed a very important and long track contract!! There better not be any, or at least not anything too major! If there is a downside to a group over another in a certain area, I want to know - it doesn't mean I still won't chose them, but, I want to at least understand and have accepted that going IN (Before I sign vs finding out after and getting pissed off). So at this point, I'm working to sort through these (hopefully) final things and questions. I was really hoping to have signed a contract by this week, but have some personal thing going on (a big wonderful thing though) slowing it down a little.

I will say I AM still not confident on who is better for bonus or even who pays the highest commission splits (even commissions seem complicated as a carrier may pay 15%, but then another 5% on top (and is that consider "commission" or "bonus"? It seems the groups will classify them differently, and thus, you have different splits!). I have some bonus data from Siaa, and waiting for PGI's to attempt to compare the groups in that bucket.

If you guys have anything else to add, please do!!! Thanks so much guys!:)
 
Thanks for checking in InsureGeek:) No, I haven't yet! I was pretty sold on siaa as I really felt like (and still do) I have a great report and trust level built with my siaa master agency rep, who I like a lot. But at the last minute before pulling the final trigger with them and signing the contract (that we worked very hard to negotiate and modify, investing a lot of time into all of it!) I thought I should contact "that Shawn guy"'s (as many on these blogs like to Reffer him as) cluster and "just see" what they said. I felt like I had looked at everything else anyway (probably more than most) so, I thought, "why not just look at ONE last one.........then I can feel even better about my decision going with siaa".....;) So, Shawn will probably figure out who I am after this posting.......but basically I'm debating between his group (PGI) and SIAA. I still have some things to sort through though with PGI, to see if it truly would be a better match for me than SIAA. I'm still unsure to be honest but need to dial this in ASAP. But new "surprises" (or at least "understandings") keep coming up about both groups. And, I don't like surprises after I've already signed a very important and long track contract!! There better not be any, or at least not anything too major! If there is a downside to a group over another in a certain area, I want to know - it doesn't mean I still won't chose them, but, I want to at least understand and have accepted that going IN (Before I sign vs finding out after and getting pissed off). So at this point, I'm working to sort through these (hopefully) final things and questions. I was really hoping to have signed a contract by this week, but have some personal thing going on (a big wonderful thing though) slowing it down a little. I will say I AM still not confident on who is better for bonus or even who pays the highest commission splits (even commissions seem complicated as a carrier may pay 15%, but then another 5% on top (and is that consider "commission" or "bonus"? It seems the groups will classify them differently, and thus, you have different splits!). I have some bonus data from Siaa, and waiting for PGI's to attempt to compare the groups in that bucket. If you guys have anything else to add, please do!!! Thanks so much guys!:)

I can't speak for PGI, but if you sign with SIAA and your book is at least 1 million+, you will regret signing with them. I beg of you to contact other SIAA members in your region and ask them for their honest feedback. Spend all day on the phone if you have to, it will be worth your effort.
 
you say the same **** over and over, but never say why, give no details, nothing, you just yap and yap and yap..... why is 1 million the cutoff point? whats your proof of anything, why does it change at a million? speak up dude

I have given plenty of details if you read my posts.

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I'm typing this from my phone so please forgive the brevity. Before you sign on with a cluster etc....please pm me and I'll be happy to tell you about our approach that gives you the carriers you want/need without having to sign away your life or paying these exorbitant monthly fees. There is simply no reason to burden your agency down with unreasonable upfront fees or long term commitments.


Hello are you still able to talk on this? Thanks
 
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