New MGA, Need Agents

[Guest]

What you offer in service sounds great, the question is how many agents can you handle? Is it only you, or will you build a team to continue that level of service as the agency grows?

If you have 50 to 100 apps per week coming in (when the agency is large enough) will you be prepared to handle that?

My point is that you want to look at the long term, and prepare for growth now. Model it as if you started big, and you will be able to handle it starting small as well.

I've been in the industry for almost 7 years. I've just recently begun to take over my father's company (been around for 25+ years). We have been catering to large broker/dealers and I want to reposition ourselves to service many independent agents. We focus on life, LTC and DI. Over the years, my father has forged many strong relationships with various top-rated carriers and in my 7 years I have followed suit.
OK - so, here is the deal, I know what I can do well and what I am not so great doing. Selling is not what I am great doing...rather, I can do it, I do it, but I really do not like it at all. I enjoy advising agents on which carrier and which product and discussing underwriting with underwriters and really getting into the muck of this industry. Basically, I enjoy doing the work most independent agents do not enjoy doing...all the grunt work. Since we are an already established MGA with many top rated carriers and since I am in charge, I can give whatever level of commission I want to. We are licensed in almost every state and will get licensed in a state for one case/one agent. No case is too small and no case too big. I always thought I was looking for the right partner, but in speaking with a bunch of independent brokers/agents, I have found that they are just looking for an MGA that is reliable and gives them adequate payout...meaning, there are minimal to no SNAFU's and they know that all they have to do is make the appointment, meet with the client and take the application. I'll take care of all their licensing, getting them the correct paperwork, scrubbing the applications, getting them to the carriers, ordering the medicals, working with the carriers to get the best offer and getting the policy to them, without them having to do anything other than making that next appointment to deliver the policy. That is what I am offering. So, I am looking for a) advice on how to implement this plan and b) am wondering if there are any agents/brokers on here interested in taking a chance with me

Any and all help and posts of potential interest are more than welcome!

 

[Mark]

What you offer in service sounds great, the question is how many agents can you handle? Is it only you, or will you build a team to continue that level of service as the agency grows?

If you have 50 to 100 apps per week coming in (when the agency is large enough) will you be prepared to handle that?

My point is that you want to look at the long term, and prepare for growth now. Model it as if you started big, and you will be able to handle it starting small as well.

Your point also works with growing a church.

We started acting like we had more people in our church before we had them and ended growing the church.
Something you said, just sounded just like what I heard about growing our church.

Rob has a great point.