ForeMike321
New Member
- 4
THere is a question but I think the following info is relevant to get the best answers:
I spent 2 years as a captive producer and then went to an independent agency where I have the following arrangement:
Book ownership is split 50-50
Commission split is 50-50 and goes to 60(me)-40(agency) starting in 2020
I also collect a 25k salary in 2019 and 20k in 2020 and no salary after 2020.
I produced 250k in premium, 50-50 PL & CL in my first year and I know I can do more in the same environment as there was quite a lot to learn getting started this year.
I ask as someone approached me and said they would like me to run an agency for them. Where I would be able to have better splits on commission and even retain 100% ownership of the book produced by me. The person who wants me to run the agency does not have any insurance experience but is a highly successful business owner in about 5 other ventures.
Am I crazy to consider going down this road? what is the average take that clusters get from agencies and how do most profit sharing or loss ratio bonus's work? What is the cost of new agency e&o an CRM software like vertafore? THese are the costs and compensations that I am having trouble finding answers too and are necessary for seeing if moving is a good idea.
I spent 2 years as a captive producer and then went to an independent agency where I have the following arrangement:
Book ownership is split 50-50
Commission split is 50-50 and goes to 60(me)-40(agency) starting in 2020
I also collect a 25k salary in 2019 and 20k in 2020 and no salary after 2020.
I produced 250k in premium, 50-50 PL & CL in my first year and I know I can do more in the same environment as there was quite a lot to learn getting started this year.
I ask as someone approached me and said they would like me to run an agency for them. Where I would be able to have better splits on commission and even retain 100% ownership of the book produced by me. The person who wants me to run the agency does not have any insurance experience but is a highly successful business owner in about 5 other ventures.
Am I crazy to consider going down this road? what is the average take that clusters get from agencies and how do most profit sharing or loss ratio bonus's work? What is the cost of new agency e&o an CRM software like vertafore? THese are the costs and compensations that I am having trouble finding answers too and are necessary for seeing if moving is a good idea.