In 1992 five independent agencies in the San Jose area began meeting weekly to address the pressures of rising volume requirement from insurance companies, profit sharing minimums and general business pressures. Seeking a way to enable their individual agencies to be more success, the group worked on the “PIIB Model” for two years. Pacific Interstate Insurance Brokers was incorporated on June 30, 1994.
The model was created with each affiliate having direct access to companies. This was more efficient for the agencies, less expensive than central marketing while also giving the companies direct access to the agencies. PIIB would take only 10% of profit sharing at a time when the industry standard was 25%. The cost of affiliation was a flat monthly fee with all direct commissions paid to the agencies, also unusual for clusters.
In 2001 Larry Manning, a 30-year veteran of Hartford Insurance Group, joined PIIB as Executive Director. Manning brought 16 years’ experience as a Regional Vice President for Hartford in Fresno, St Louis and Sacramento. Over the next two years PIIB grew in premium, number of agencies and geographic diversity. In 2003 Manning was elected President. Today PIIB is in nine states with over 200 affiliates and 45 companies.
- PIIB takes no ownership of affiliate agencies or books of business
- Affiliated agencies receive 100% of the direct commission
- With your own sub codes policies show your agency name, not PIIB
- No minimum premium to become an affiliate
- No minimum premium to earn profit sharing
- You may quit with a simple 90 days’ notice and your book is immediately released, our agents stay because they are happy not because they are trapped.
- You have direct access to markets – no central marketing to slow down your work
Stromsoe Insurance Agency
We cannot thank you enough for the ongoing relationship between our agency and the PIIB family. We remain grateful in so many ways. Since we joined forces with PIIB 6 years ago, our business has continued to substantially grow. But being a PIIB member means more than growth. It means incredible leverage with our carrier partners, financial security through the contracts negotiated by PIIB and ultimately results in a better life for my family and the families of my agency teammates.