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Power In Numbers: Why You Should Be Working With Other Insurance Agencies

Photo of a pod of dolphins swimming in a uniform direction.

By choosing the right agency network, you can leverage your collective strength to create new opportunities for growth and increase your own individual success. Plus, there’s no need to give up your independence. 

Here are just a few of the benefits you can unlock:

Power in Numbers

Membership with the right network can deliver your agency more favorable compensation, additional market access, and less pressure from carriers on your agency.

When you work with other agencies through a network, you share success with the group. Your collective momentum through a group like Renaissance creates a rising tide that can lift all boats.

Agents who join Renaissance get access to services and tools that help foster substantial growth.  As member agencies grow, our carrier partners experience growth as well. This results in more favorable carrier contracts, which enables improved compensation for all member agencies. We like to call this concept “the virtuous cycle.”Carrier Compensation and Growth Cycle

Group Support

Who understands what you go through as an independent agency better than other independent agencies? By joining forces with like-minded agents, you feel more supported, improve your understanding of complex issues, gain a sounding board for ideas, and create opportunities for feedback and advice. 

Rather than trying to figure everything out on your own, you can pool your knowledge, share best practices, and connect with professionals who are experiencing similar situations. 

Members of Renaissance can participate in quarterly member meetings, during which they can ask questions and discuss their shared challenges. They can also connect with others through regular webinars and panel discussions.

Less Work for All of You

Like other agency principals, you’re spending a lot of time on things that keep you from managing your business and growing relationships with clients. When you combine resources and share support staff in an agency group like Renaissance, you can remove a lot of time-consuming work including:

  • Commercial lines rating and quoting
  • Agency billing and collection
  • Monthly commission reconciliation
  • IT support services
  • Carrier management
  • Carrier code set-up and maintenance
  • Website maintenance and email marketing

Download our free e-book here: The Independent Agent’s Playbook for Success – How to Solve Your Agency’s Five Biggest Challenges 

An agency group should serve as an extension of your team, providing you the extra bandwidth and services you need to accelerate your growth. By saving this time, you can keep your primary focus on what you’re best at: building relationships and selling more insurance.

Better Data & Technology

Many Agency Management Systems can be difficult to master, and you can’t always get the data you need to take action. But when you collaborate with other agencies through an insurance agency network, you up your analytics game thanks to:

  • Proprietary agency data dashboards, updated daily. 
  • Growth Advisors to help you turn your data into actionable plans to increase agency revenue
  • A powerful e-mail marketing tool that hooks right into your agency’s data and enables things like cross-selling campaigns to be sent to your clients on a recurring basis.
  • A submission system that incorporates a comparative rater for small commercial lines
  • Help desk support to assist you with any troubleshooting problems
  • Dedicated onsite and virtual training services for all supported systems
  • Intuitive agency technology designed to help your business

Joining Forces with Other Insurance Agencies

If you believe that joining an agency network means that you can’t go it alone, it’s time to change your mindset. The right network will let you remain 100% independent while unlocking the collective advantages of teaming up with other agencies and increase your chances for significant growth.

Review our member benefits and find out how joining Renaissance provides you substantial benefits and a trusted partner.

About Renaissance

Renaissance provides market access, placement services, technology and resources for independent insurance agents that want to grow their business and maximize efficiency.

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Renaissance is a good fit for independent insurance agencies that:

  • Have a strong desire to grow commercial lines
  • Have a positive loss history
  • Are led by a licensed and experienced P&C insurance professional
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NON-DISCLOSURE TERMS AND CONDITIONS

These Non-Disclosure Terms and Conditions (“Agreement”) govern the provision of information by Renaissance Alliance Insurance Services, LLC (“Renaissance”) to a prospective agency member (“Recipient”). Renaissance and Recipient Renaissance and Recipient are hereinafter referred to together as the “Parties,” and each may be referred to separately as a “Party.”

The Parties acknowledge that Renaissance may disclose to Recipient certain of Renaissance’s confidential, sensitive and/or proprietary information including, but not limited to, business, financial or technical information, in connection with the potential establishment and/or conduct of a business relationship or transaction between the Parties (the “Transaction”). In connection therewith, for good and valuable consideration, the receipt and sufficiency of which consideration are hereby acknowledged by Recipient, and as a condition of the provision of Confidential Information (as defined below) to Recipient, Recipient hereby agrees as follows:

  1. Confidential Information. “Confidential Information” means any and all information provided by Renaissance to Recipient in any form, and at any time (including prior to or following the execution of this Agreement), including but not limited to any such information that (a) is related to Renaissance’s business, finances, financial information, pricing, business plans, profitability, projections, business or financial opportunities, investment strategies, other strategies, data, products, services, concepts, contacts, personnel, customers, vendors, prospects, intentions, formulas, methods, processes, practices, models, tools, computer programs, software, discoveries, inventions, know-how, negative know-how, business relationships, agreements (including this Agreement), intellectual property, trade secrets (whether or not patentable or copyrightable), trade secrets, or other confidential or proprietary information, (b) contains or is related to any communications, negotiations or proposals regarding the Transaction; (c) Recipient has either been informed, or reasonably should know, is confidential in nature; or (d) consists of or contains names, addresses or other information of any description relating to any of Renaissance’ member agencies or any of such member agencies’ customers or clients. Confidential Information shall also include any analyses, compilations, studies or other documents or materials prepared by Recipient or by any of its Representatives, that contain, rely upon, are derivative of or otherwise reflect any Confidential Information as described in the preceding sentence. The foregoing notwithstanding, Confidential Information shall not include any information which, at the time it is provided to Recipient; (i) is already known to Recipient, (ii) is then or later becomes available to the general public without violation of any requirement of confidentiality.
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  1. Miscellaneous. This Agreement shall be construed in accordance with and governed by the laws of the State of Illinois, without regard to its conflicts of laws principles. Any action or proceeding against either Party relating in any way to this Agreement shall be brought and enforced only in the Federal (to the extent appropriate jurisdiction exists) and State courts located in Cook County in the State of Illinois, and the Parties irrevocably submit to the jurisdiction of such courts in respect of any such action or proceeding, and irrevocably waive any objection to venue in such courts, including but not limited to any objection that such venue is inconvenient. This Agreement embodies the entire agreement of the Parties with respect to the subject matter hereof, and supersedes all prior and contemporaneous agreements and understandings, oral or written. No amendment to this Agreement and no waiver of any provision hereunder shall be effective unless it is in writing and signed by an authorized officer of the Party against whom such amendment or waiver is asserted. No invalidity or unenforceability of any provision of this Agreement shall affect the validity or enforceability of the remaining portions hereof. This Agreement shall be binding upon, and shall inure to the benefit of, each of the Parties and their respective successors and assigns. There are no intended third-party beneficiaries of this Agreement. This Agreement does not in any way bind either Party to enter into or continue any type of business relationship with the other. Nothing in this Agreement shall prevent Renaissance from at any time disclosing any of its Confidential Information to others or negotiating with others for any purpose whatsoever. Nothing contained in this Agreement shall be construed to constitute the Parties as partners, joint venturers, co-owners or otherwise as participants in a joint or common undertaking. Recipient’s indication of assent to this Agreement via electronic means shall be equally binding and effective as an original signature hereon, and shall be deemed duly and effectively delivered if so transmitted or provided.