Insurance Journal Forums

Has anyone had experience using one of the online aggregators like Agent Secure, Superior Access or Insurance Noodle? It is my understanding you cant bind the business yourself and it can take up to 24 hours for them to bind ( they say it is usually within minutes). Do they allow you to bind quickly in your experience. Also most of my business is personal lines so am wondering if that would be a problem.

It's just my opinion, but I think you'll be at a major disadvantage to not have binding authority in a personal lines agency.

You really want to try and get some direct appointments for preferred carriers. Think of it from the client/prospect's point of view. Once they make the buying decision, they want the assurance of coverage, not some future effective date.

In the current market, it should be fairly easy to get appointed with standard/substandard carriers. Preferred market carriers will be a bit tougher, but with a good printed business plan made specific to your target carrier and a marketing plan, and no criminal record, it can be done. Right now carriers are very hungry because the personal lines marketplace has become very quiet.

Good luck.

Insurance Noodle is great if you are into technology. They have the latest tech platform & have a lot of pull with their markets (I know as I used to work for Hartford and they did big biz with us every year).

Superior Access is ok but they have had a spotty reputation with IJ folks. I have not heard much, if anything, bad about Noodle.

There are huge differences between Iroquois, SIAA, SmartChoice, Keystone, and the internet aggregators. If all you want is easy access to carriers, you are better off with the internet guys like Noodle and AgentSecure. The downside is compensation. Your commission rates wont be as high and you will not particpate in the various forms of incentive compensation (contingency, profit sharing, supplemental, etc.)

If you want more than what the internet guys provide, both in terms of compensation and other value added services, then SIAA or SmartChoice might be a better fit. The rewards are greater but so are the costs and commitments. Read the contracts carefully to make sure you aren't giving up more than you expect.

The high end Networks like Iroquois and Keystone provide much more than market access. Total compensation is a big plus, and they provide a menu of services that are designed to add value to your agency. But they expect a certain level of partnership and commitment in return.

Once you determine what you want to get out of a network relationship, it wont be hard to find the right network for you. Good luck.

What is the best cluster or network for Arkansas?

Thanks