New MO Independent P&C Producer/Broker HELP

[rjhusein3]

Thank you in advance for any help!

My brother and I passed the Missouri P&C exam and have applied for licenses + business entity. We both have no experience or background in insurance, but have extensive backgrounds in sales (outside and inside). We have a conjoined list of about 750 people ready to use us as producers. (Father owns accounting business, clients want to use us, yada yada) We are ready to take our journey as business owners, but have hit a road block.

Sales? Easy. Leads? Easy. Start up capital? Easy. Exam? Easy. Insurers. Oh yeah...them...

Insurers have volume requirements.

We have heard of clusters, aggregators, alliances, and whatever they call themselves, that help with getting around volume requirements and all that. Sounds good. They want to get paid or want a percentage of commissions. Okay... sucks, but still reasonable. They also want a no-compete contract, if we decide to venture solo year later? Or they want access to our book of clients?

Essentially, we bought the book, read it, passed the exam, already "sold" 750 clients, but need to sign with insurers. What is our next step (if you were us)?

 

[indienoise]

Have you tried getting direct appointments? I've heard people on here repprt varying levels of success getting them with a start up. Have a great business plan. What markets are these potential clients? I hooked up with an mga that has a personal lines market access program and no non compete. Turnaround time is doable, but like all market access they do have their own guidelines above the carriers. Middle market business can be harder to place with these sort of deals. Some clusters will allow you to buy out. Will cost you some money but people do it. Ultimately you gotta decide what downsides you can best live with.

Also, i nearly forgot, iiab has a market access program with binding authority for members. I havent looked too much into it, since they dont have any carriers i really need, but it appears to be agent friendly. Anyone here used that?

 

[agentinsouth]

Thank you in advance for any help! My brother and I passed the Missouri P&C exam and have applied for licenses + business entity. We both have no experience or background in insurance, but have extensive backgrounds in sales (outside and inside). We have a conjoined list of about 750 people ready to use us as producers. (Father owns accounting business, clients want to use us, yada yada) We are ready to take our journey as business owners, but have hit a road block. Sales? Easy. Leads? Easy. Start up capital? Easy. Exam? Easy. Insurers. Oh yeah...them... Insurers have volume requirements. We have heard of clusters, aggregators, alliances, and whatever they call themselves, that help with getting around volume requirements and all that. Sounds good. They want to get paid or want a percentage of commissions. Okay... sucks, but still reasonable. They also want a no-compete contract, if we decide to venture solo year later? Or they want access to our book of clients? Essentially, we bought the book, read it, passed the exam, already "sold" 750 clients, but need to sign with insurers. What is our next step (if you were us)?

I've got a non-captive, not exclusive, no buyout personal lines cluster group. PM me w/ your contact info.

 

[cgreene]

I've got a non-captive, not exclusive, no buyout personal lines cluster group. PM me w/ your contact info.

I am interested in this.