The life of a captive agent can be limiting. You’re working under the rules of an agency, with quotas dictating how you do your work.
This is why becoming an independent agency is so enticing – but at the same time, this transition will entail a lot of time, effort, and resources, and many people aren’t able to put in what’s needed to achieve success in the field. By joining an insurance agency cluster, however, you get a turn-key solution to kickstart your business without it feeling like you’re starting from scratch, while still maximizing all the perks of running your operation on your own.
Why Join an Insurance Cluster
An insurance cluster is a network of insurance agents, agencies, and carriers that collaborate to provide certain benefits to its membership. These perks include access to more insurance products, support from seasoned industry professionals, and autonomy to conduct your business as you wish. If you’re wondering why you should join an insurance cluster, here are three of the key reasons:
Joining an insurance cluster gives you a lot of freedom in the way that you conduct your business. A group like Insurance Pro Agencies (IPA), for example, allows you to build up an asset that you have full control over. This means that you can set it up for the future that you’re envisioning, whether that’s using it to fund your retirement, passing it on to your kids, or branching out on your own as a full-blown independent agency.
IPA also gives you full binding authority so you can operate on your own terms; you can work whenever you want, from wherever you are. You get direct access to our line of carriers (which includes multiple big names, enough to rival that of a thirty-year-old agency) and can deal with underwriting yourself. There are also no quotas, so you don’t have to worry about penalties or getting fired for not reaching certain numbers.
Insurance clusters can help you jumpstart your agency right out the gate, without having to deal with the common challenges that new agencies might experience independently. IPA, for instance, provides you with the technology to manage your agency and compare rates. We even give you a phone system and E&O insurance!
Training and Support
As an association, insurance clusters are made up of different people from the industry who can help you reach greater heights for your business. A group like IPA has decades of experience to back them up, so you have powerful support to help you run your business.
We also provide a comprehensive Bootcamp to walk you through the business, equipping you with tips to build a thriving operation. And if you lose a carrier or experience high losses, IPA can even help you rehabilitate your agency to get you back in the market.
Should I Join an Insurance Cluster?
Joining an insurance cluster is the best choice for any captive agent who wants to become an independent agent or run their own agency–those who want to have more freedom with their time and quotas, and those that hope to hit the ground running when they set up their own business. If any of these rings true to you, you should join an insurance cluster like IPA!
How to Join an Insurance Cluster
As with other membership groups, joining an insurance cluster can take a few steps. Depending on the association, you might have to fulfill certain requirements or go through a screening. Here are the steps to help you join an insurance cluster:
Consider Your Goals
Determine why you’re joining an insurance cluster in the first place. Are you tired of being a captive agent? Are you ready to start your own business? Do you want to expand your industry network? Once you figure these out, you’ll be able to choose which group will be best to achieve your goals.
Read the Fine Print
When choosing an insurance cluster to join, be sure to read the fine print. Check the requirements, understand the rules, and find out everything required to be (and stay) a member. You’ll also want to consider the fees associated with membership.
Follow the Instructions to Join
After choosing the right insurance cluster for you, follow their instructions for membership and comply with all the requirements. If you do everything right, you’ll be part of the group in no time and can start reaping the benefits!
Join Insurance Pro Agencies Today
If you’re looking to get into an insurance cluster, check out Insurance Pro Agencies. With great benefits and years of experience, we’re well-equipped to give you the support you need to become an independent agent or agency owner. Take the assessment today!