When looking at aggregator insurance companies to join, it’s important to know why they exist in the first place. Otherwise, you’ll be wasting time and money on services you don’t understand or underutilize. We at Insurance Pro Agencies (IPA) are happy to discuss how companies like ours help insurance agents like you.
In this article, we’ll dive into the role of aggregators from the best insurance agency aggregator around–IPA. We’ll talk about the difference between these companies and property and casualty (P&C) insurance clusters.
What Is an Insurance Aggregator?
Simply put, an insurance aggregator is a website or mobile app that shows price comparisons for different insurance policies. They may also aid with the purchase of these plans on behalf of the carriers. These plans come from a group of agencies that banded together to offer more options to consumers than individual agencies could on their own.
Aggregators Versus Clusters
Unlike aggregators, insurance clusters are groups of independent agents who combine their books of business to create one large book. This allows them to network and expand their reach. Like an aggregator, clusters help agents provide more options to their clients, especially for property and casualty insurance.
Their Role in Insurance
By giving agents access to more insurance products from a variety of carriers, insurance aggregators help independent agents grow their business. With the tools and resources made available to them, these companies help new agents function like long-standing agencies.
What Else Can Aggregators Do for Agents?
Beyond offering a wider network of carriers and products to choose from, insurance aggregators do quite a bit for agents (depending on the company, of course). Here are just a few of the ways IPA helps agents run the most successful business they possibly can:
Tools of the Trade
Some insurance aggregators provide the tools you need to run your agency effectively. For example, IPA gives its members access to a comparative rating tool and agency management software, a phone system, and errors and omissions (E&O) insurance. With this package of products, even the newest independent agent can serve clients with ease.
Training and Support
The best insurance aggregators offer training on how to run an agency. After all, many agents are used to working with companies that set policies and standards for them. IPA offers our optional Bootcamp training program to interested agents, where we go over all the tricks of the trade. In this training, we also give you the ‘secret sauce’ to running your business successfully!
If your agency is struggling when you join us, we have solutions for you, too. We offer crisis support for the agents that need it the most.
Moving Forward With IPA
Insurance aggregators are a great asset to the industry. When aggregators supply agents with the resources they need to grow and succeed, they contribute heavily to client satisfaction.
If you’re looking for an aggregator to work with, look no further than IPA. We don’t hold our members to quotas, so you can run your agency in a stress-free environment. Reach out today to get started!
