Aggregation Can Create Scale and Growth Opportunities

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SSIIAA Members Discuss Strategies for Agency Growth: Aside from gaining access to markets and participating in profit sharing, aggregators, clusters and alliances should be helping member agencies grow, according to Renaissance Alliance's Heather Cochrane Russo, VP of public relations and development, and Michael Cooney, CIC, VP of agency recruitment. Cooney told members of the South Shore Independent Agents Association that "the purpose of an aggregator has to go beyond a financial consideration. It has to help agents grow."

SSIIAA Members Discuss Strategies for Agency Growth

WEYMOUTH, MASS — Aside from gaining access to markets and participating in profit sharing, aggregators, clusters and alliances should be helping member agencies grow, according to Renaissance Alliance's Heather Cochrane Russo, VP of public relations and development, and Michael Cooney, CIC, VP of agency recruitment. Cooney told members of the South Shore Independent Agents Association that “the purpose of an aggregator has to go beyond a financial consideration. It has to help agents grow.”

Cooney told members of the South Shore Independent Insurance Agents Association that “the purpose of an aggregator has to go beyond a financial consideration. It has to help agents grow.”

Growth is a term that means many things to many people and can be measured in numerous ways — premium growth, revenue growth, policy count, net income, etc. All aggregations are fueled by premium growth, noted Cochrane Russo. At their core, aggregations center around creating scale. From a premium standpoint, scale can move agencies to a higher profit-sharing tier, which could lead to earning overrides. With scale, also comes opportunity.

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Reprinted by permission of Standard Publishing Corp. © 2019

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About Renaissance Alliance

Renaissance Alliance is the premier alliance for independent property casualty agencies. Founded by agents for agents in 1999, we are a pioneer in agency groupings, offering far more than expanded markets and profit share. Distinct from agency aggregators, we provide state of the art technology solutions, a full-time staff of more than 90 industry experts and a proprietary agency growth acceleration process that delivers superlative results.

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