Deciding whether to stay captive or to break free into the independent world is the most significant decision an insurance agent ever has to make. To transition from captive to independent is a personal decision not to be taken lightly. Are you ready to take on the responsibility of being an independent insurance agency owner?
From Captive Agent to Independent Insurance Agency Owner
Let’s go over a quick checklist of questions to see if you’re ready to transition from a captive agent to an independent agency owner. This list will also get you thinking strategically about the type of agency you want to build and how you’re going to make it happen.
- Do you love what you do?
- Who are your clients?
- How will you get carrier appointments?
- Do you feel confident as a leader?
- Do you have support?
Is It Time To Leave Your Captive Position
There are ebbs and flows in every career? Hitting a plateau or feeling stuck in a rut at work doesn’t necessarily mean you’re ready to be independent. There are many bonuses to working as a captive agent.
If you’re feeling frustrated in your captive job, consider if you simply need new responsibilities and challenges within your current job or take the next step and work for an independent agency. Before you dive headfirst into the independent world, consider if there are smaller steps you should be taking to improve your skills, knowledge, and experience.
We created Affordable American Insurance because we wanted to change the industry. You should have a fundamental desire and unwavering confidence to do something different, try a new approach, and shake up the industry.
If your current job holds you back and restricts your potential, it may be time to go independent.
Who Are Your Clients
When you’ve evaluated your current situation and are sure that you are ready to be independent, it’s time to think more strategically about the type of agency you want to run. More notably, who are you going to serve? Who is your ideal client?
Starting with a client profile gives you more insight into your readiness. The fire to own an agency may be burning bright in your heart, but is it realistic? Your ideal client should be someone you can relate to and have access to. Access is key. If you don’t have access to your ideal clients, it’s going to be a tough start-up.
Carrier Appointments
You don’t want to come to your clients empty-handed. Once you reach out to clients, you have to present them with better options and services than the competition. That means you need to have access to all the top carriers.
Getting carrier appointments is one of the toughest aspects of being an agency owner. Carriers want you to have a verified reputation before they trust you with their brand and products. However, you can’t build a reputation if you don’t have carrier appointments. It’s the ultimate catch-22 and one that will drive first-time agency owners bonkers.
One of the biggest draws for agency owners to join AAI is carrier appointments. As an affiliate of AAI, you’ll piggyback off of our reputation to gain access to the top carriers in the industry. You need to fulfill a few practical requirements - like a physical business address - but this service allows new insurance agency owners to hit the ground running.
Are You Confident Being A Leader
The final question ask yourself is if you’re ready to be a leader, both as a boss and within your industry? Clients want to rely on your expertise and industry insights to guide their policy decisions, and your agency’s success depends on your leadership skills.
Do you have support?
No one can do it alone, not even an independent insurance agency owner. At AAI, our motto is "You're independent, but not alone." We understand the necessity for everyone to have a strong support network and a community of peers to ensure success and keep us competitive. AAI has adopted a team approach to supporting agency owners.
AAI-affiliated agents represent one of the fastest-growing networks for independent agency owners. You'll get the support of fellow agents, along with an executive team of industry professionals.
We provide a turnkey business model and a roadmap for success for new agency owners and for existing agency owners looking to grow bigger, faster, more efficiently.
Support and training cover everything from practical items like writing a business plan and optimizing your auto-signature to more abstract elements like defining your brand.
Insurance technology is becoming an invaluable part of running a successful agency. We've developed a proprietary dashboard allowing agents to compete with online marketplaces and automated insurance portals, stay informed about industry trends, provide insights about clients' behaviors and trends, and make better and more informed predictions about their portfolios.
Are you ready for the responsibility? If the answer is yes, let’s make it happen!
Join AAI to Start Your Independent Insurance Agency
As an AAI-affiliated agency owner, you have the freedom to run your business the way you see fit and sell the products you want so that you can maximize your revenue.
Learn the strategies and tactics that will help you get the most from being an independent agent by joining AAI.