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You’re Not Getting Everything You Need Out of Your Agency Network. Here’s Why.

It’s time for insurance agency principals to expect more in exchange for their membership.

All revolutions start with an idea.

On Jan. 9, 2007, Steve Jobs strolled onstage at the Macworld Expo, inside San Francisco’s Moscone Convention Center. His critical mission: to unveil the first iPhone, and in doing so, transform the way people looked at a communications device that was more than a century old and teach them to expect more from it – more than they previously could have imagined.

“Today, Apple is going to reinvent the phone,” Jobs said to the audience’s cheers as he described the company’s clever synthesis of elements that before had never been offered in a single product. Prior to the iPhone, people could not have conceived an intuitive, sleek-looking invention that gave users a mobile phone, an iPod with touch controls, and an Internet communications device with the ability to use e-mail, web browsing, maps and searching. Suddenly, the phone had truly evolved.

Before that day, the world literally did not know what it was missing. Apple had delivered a solution for needs that millions of people didn’t even realize they had.

These days, many principals who are in agency networks are in the same boat. They thought they simply needed the ability to make calls, but they really need so much more than that.

Certainly, you get access to an expanded selection of carriers and certain profit-sharing benefits if you join a network or commission club. However, there’s far more value to be expected from a premier agency network that you’re not getting.

You may think your network provides all you need – but the truth is, your agency deserves a lot more than basic features.

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

Envisioning more from your membership

Research shows that most principals whose agencies are members of an agency network or a commission club are content with the choice they’ve made. While surely a few wonder what lies beyond the network to which they’ve aligned themselves, for the most part they’re satisfied with where they are.

In a recent survey by trade publication Insurance Business America, 92% of agents surveyed rated their networks as “Excellent,” and said little could make them leave. Meanwhile, 6% rated them as “Good.” Only 2% rated their network as “OK.”

It’s arguable that if those principals knew not what they were getting but what they weren’t getting out of their current membership, they would feel differently.

What’s important to you in a network?

To that end, the surveyed agents said the factors that were most important to them when selecting a network were:

  1. Product range (93%)
  2. Commission rates (93%)
  3. Fees & charges (91%)
  4. Entry price (87%)
  5. General support (84%)
  6. Technology (84%)
  7. Training (70%)
  8. Marketing (69%)
  9. Financing options (53%)

Consider that more than 8 out of 10 agency principals said they desired general support – which can include:

  • Commercial Lines and Personal Lines policy placement experts to assist in pairing your client with the right carrier;
  • Relationship management with your carriers, to free up time for you to serve clients;
  • A team that helps members earn more revenue on the premium you’re already writing by negotiating better deals with our partner carriers and work with your agency to identify accounts that can be moved to carriers that could earn you more compensation;
  • Daily reporting tools that help create initiatives designed to drive growth in your business; and
  • Back-office help to free up your staff to concentrate on selling, rather than tedious tasks like billing, bookkeeping, and commission reconciliation.

The vast majority of agency networks don’t provide support of any kind – and the ones that do leave their agents on an island to figure out how to use the limited services they do get. Members of Renaissance Alliance receive all the benefits agency principals say they want, in addition to guidance on how to best leverage them.

Turning awareness into opportunity

Yet there’s even more that members of other networks are missing out on.

For example: having the valuable services of an Agency Growth Partner, who creates a customized strategy to help maximize your business growth. As a member of Renaissance Alliance, your AGP acts as an extension of your team, helping your agency fully utilize the services available to you that will best benefit your business. Or marketing savvy that can help elevate your business’ profile in a digital world.

Recall that 8 out of 10 agency principals said they wanted the benefits of better technology. That means software to make agency workflows more efficient, and data & analytics that deliver business insights.

How many agency principals realize the number of revenue opportunities that can be unlocked when their agency’s data is collected, sorted and presented in an intuitive, easy-to-view format? Our proprietary technology tools like Arno, which allows you to scroll through your entire book of business on your phone and empower you to manage your clients’ needs from anywhere, enable you to finally harness the value of your agency’s data.

Your agency has collected customer data for years. Can your network put it to work for you?

Likewise, Portico, our submission system that integrates a small-commercial comparative rater, dramatically streamlines the submission process, saving you time and money each time you use it.

When your network provides a valuable solution for a problem you didn’t even realize you had, amazing things start to happen for your agency.

Getting what you give?

With a lot of networks, the offerings are sufficient to get you to join and risk complacency over time. But Renaissance Alliance isn’t interested in incremental growth or taking control of your agency – something that’s very much on the minds of agency principals. It’s true that in certain networks, the principals give up control of their carrier contracts – but not with Renaissance. With our network, you retain complete control of your agency. You still have the final word on every decision, just as you have for years.

With Renaissance, your agency remains 100% independent while you enjoy all the benefits of being part of our network.

Ask yourself: “Is what I’m getting from my network worth giving up control of my agency?”

There’s a sense of loyalty engendered in some networks, a feeling of camaraderie – and some agency principals might feel disloyal even in checking out what another premier agency network has to offer, much less leaving the pack to join a better one. It can feel like a betrayal.

At the end of the day, however, you’re a business owner. If a much better deal for your agency can be found elsewhere, is the growth of your business not more important? That’s a decision only you can make, but savvy agency principals know that the smartest call is the one that ensures your future – and your legacy. Don’t risk that, just to avoid a potentially awkward encounter with a former network member.

At Renaissance Alliance, we are providing all the things that agency principals desire, plus a few they haven’t even considered. We can show you that you always have more options than you think, and that the network you may not have known about just might be the key to your agency’s future.

Let us educate you on what you’re missing out on – and that expecting more is the key to getting it.

How much can Renaissance help your agency grow? Calculate your agency’s projected cumulative earnings and valuation here: Calculate Your Growth Potential 

About Renaissance

Powered by a differentiated suite of technology products and services, Renaissance drives organic, profitable revenue growth for your insurance agency.

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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.
  1. Providing of Confidential Information. Renaissance may provide to Recipient any Confidential Information, in such manner and at such times as Renaissance may determine, to assist Recipient in evaluating, negotiating and carrying out the Transaction, but shall have no obligation to provide any, or any particular, Confidential Information to Recipient. Renaissance makes no, and disclaims any, representations or warranties regarding any Confidential Information it may provide, except as may be provided in any definitive documentation relating to a Transaction.
  1. Non-Use and Non-Disclosure; Representatives. Recipient agrees not to use any of Renaissance’s Confidential Information for any purpose other than for or in connection with the evaluation, negotiation, entering into or carrying out of a Transaction. Recipient agrees not to disclose any of Renaissance’s Confidential Information to any third party other than Recipient’s directors, officers, employees, affiliates, counsel, consultants, advisers, representatives and agents (collectively, “Representatives”) who have a reasonable need for the same in connection with the uses thereof permitted under this Agreement. Any such Representatives who are provided with any Confidential Information shall be instructed to maintain the same in confidence, and not to make any use or disclosure of the same other than as permitted under this Agreement. Recipient shall be responsible for any breach of this Agreement by any of its Representatives, to the same extent as though Recipient had committed such breach personally. Recipient agrees to use the same level of care in protecting the Confidential Information from unauthorized disclosure as it uses to protect its own confidential or proprietary information, and in any case will use no less than a commercially reasonable level of care in protecting all Confidential Information from unauthorized disclosure. The foregoing notwithstanding, Recipient shall be permitted to disclose so much of the Confidential Information as has been authorized for release by Renaissance in writing, to the persons and upon the conditions so authorized by Renaissance, in connection with the carrying out of the Transaction. Recipient shall not circumvent or seek to circumvent Renaissance’s negotiations with any third party, either by entering into discussions directly with such third party otherwise than on behalf of Renaissance, or otherwise. For purposes of this Section, each Party shall act in good faith and deal fairly with the other Party.
  1. No License; Return of Confidential Information. Recipient will not acquire any license or other rights whatsoever with respect to any of the Confidential Information by virtue of its disclosure to Recipient pursuant to this Agreement, or by virtue of any use thereof permitted hereunder. Recipient agrees to destroy or to return all Confidential Information to Renaissance, including both originals and all copies thereof (other than copies created as part of the routine backup of Recipient’s servers, or copies retained pursuant to a requirement of a governmental or regulatory authority, all of which retained copies shall be held confidential for so long as such materials are so retained), and to confirm the completion of such return or destruction to Renaissance in writing, promptly upon demand by Renaissance within the term of this Agreement. The term of this Agreement shall be for a period of five (5) years, commencing on the Effective Date set forth above. Either Party may terminate this Agreement at any time, upon written notice to the other Party, provided that the obligations of Recipient hereunder shall nevertheless survive for the period above stated, with respect to all Confidential Information provided prior to such termination.
  1. Orders Requiring Production. In the event Recipient receives a court subpoena, request for production of documents, court order or other requirement of a governmental agency to disclose any Confidential Information (a “Disclosure Requirement”), Recipient shall (unless prohibited by law) give prompt written notice to Renaissance thereof so that Renaissance may seek to challenge or limit the Disclosure Requirement. Recipient agrees to cooperate reasonably in any effort of Renaissance to limit or prevent any required disclosure of Confidential Information, provided that Recipient shall: (i) not be required to incur any expense in connection with such cooperation, and (ii) not be required to disobey any Disclosure Requirement. Recipient shall not be deemed in violation of this Agreement if it complies with any such Disclosure Requirement either after having provided Renaissance with notice thereof and a reasonable opportunity to contest the same, or if such notice is not permitted. Recipient agrees to (a) exercise reasonable efforts to disclose only the minimum amount of Confidential Information that Recipient is compelled to disclose, in the opinion of its legal counsel, and (b) request that confidential treatment (if legally permissible) will be accorded to the Confidential Information being disclosed.
  1. Injunctive Relief. Recipient acknowledges that the Confidential Information is confidential, and that disclosure or use of said information in violation of the terms of this Agreement would result in substantial and irreparable harm to Renaissance, the actual dollar amount of which damage would be impossible to determine. Accordingly, Recipient agrees that, in addition to any other remedies that may be available, in law, in equity or otherwise, Renaissance shall be entitled to seek injunctive relief against the actual or threatened breach of this Agreement or the continuation of any such breach by Recipient, without the necessity of proving actual damages and without posting bond. This provision shall not limit the right of Renaissance to seek actual damages or any other legal or equitable remedy for any breach hereof.
  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.