In order to answer this question, I’d first ask you to put yourself in the existing members’ shoes. One of the primary reasons any agency joins a network is to maximize or stabilize their agency’s profit-sharing revenue. The idea is to aggregate the premium of many to better withstand losses that are the nature of this industry.
If you are considering joining a cluster, there’s good news…you have options! The bad news is…you have OPTIONS! Consequently, the best thing you can do for your agency is explore every option thoroughly to choose the best fit for you and your agency.
I have yet to meet a cluster that requires agency staff. We have affiliates that operate as a one man/woman shop and have had great success. As long as you’re able to function well alone, the proof is in the pudding. Can your agency have success without support staff, financially & personally?
Whether you’re a producer at an independent agency or a captive/exclusive agency owner considering starting your own independent agency, you’ll without question be faced with the decision of starting completely independent or partnering with a network/cluster. This article is aimed to identify reasons why you should carefully evaluate both options to determine what is best for you and your future independent agency.
PIIB would like to share a recent webinar presented by Dean Milber with CalSurance regarding “Insurance Agents and Brokers - Duty of Care and Issues Presented in the COVID-19 Claim Environment.”