- Do you have a good carrier mix across the lines of business I want to use in my agency?
- Are those carriers competitive in my region specifically?
- Do you have any production requirements?
- Do you provide an agency management system?
- Do you provide a comparative rater(s)?
- Do you have a non-compete or non-solicitation if I decide your network isn't for me? If so... why?
- Do I need an office or may I work from home?
- What if I am new to Insurance, is that ok in your network?
- Do you have any exit fees?
- Can I sell my agency at some point?
- If I sell my agency, do you take a cut?
- Will I quote, bind, and service my policyholders directly with the carrier on their sites, or submit through you.
- How long is my contract for, and do I get ownership right away, or over time?
- What are the startup fees and are you willing to work with me if I need to make payments?
- What is the commission rate/split?
- What is the criteria for participation in the contingency bonuses (if applicable)?
- When there are overrides and incentive bonuses do we get any of those while in your network?
- Do you have a cap on the commission split or do you take your split forever?
- Do you offer training during the startup phase of my agency and mentorship throughout the relationship?
- Are you open to me contacting some of your member agencies before I sign the contract?
- Are you open to me contacting some of your carrier reps before I sign the contract?
- May I have an attorney, or third-party consultant review my contract with me?
- How much industry experience does your network leadership have?
- Has anyone in your leadership had experience in running an independent agency?
- Does anyone in your leadership have any carrier experience/background?
- May I contract with other carriers outside of your network?
- How long have you been in business and how many agencies do you have in your network?
- Define ownership.
- How does your agency network make money?
- One of the most important things someone can do other than reading the contracts of many networks is to speak to the owner/CEO/president of each network to get a feel for the culture. If you find they don’t have the time to talk to you... message me your contact info and I will make time for you.
There are subtle nuances each network you approach and some not so subtle. This will help you do a more thorough search and by the end I hope you find the right answer for YOU, and that answer is far more clear than when you started searching.
If you find this helpful, do me a favor and remember where you got it and drop me a line to tell me what you ended up deciding and how you are doing. Good luck on your adventure!
Horizon Agency Systems