Insurance Journal has just released its Top 20 Agency Partnerships and we are happy to report that Renaissance Alliance Insurance Services ranks as the nation’s 7th largest grouping. Insurance partnerships – often called groups, networks or aggregators – are organizations that play an increasingly important role in the insurance distribution system. When Renaissance was founded by agencies and for agencies more than 20 years ago, we were a pioneer and charting new territory. While there were a few other groups scattered here and there across the country, it was an innovative concept. We were rather like the insurtech of the era in that we introduced new and more efficient ways for our member agents to do business, grow and prosper. And since day 1, technology has been an important cornerstone in our Alliance.
You can learn more about the Renaissance Alliance model and the benefits of membership in the profile included with the listing. Here’s an excerpt:
According to J. Bruce Cochrane, CEO of Renaissance Alliance Insurance Services, the network leverages technology, business services and market influence to empower member agencies to grow strategically and maximize revenue.
He says RAIS is distinct from other agency groups because it supports members with a strong infrastructure that includes a staff of 80-plus full-time insurance experts, business process outsourcing and software engineering expertise.
“Services include account placement, a host of back-office processing, employee training, marketing support, acquisition support and software offerings focused on helping agencies measure and manage their businesses,” Cochrane said. “Our growth partners, a team of industry veterans focused on driving organic agency growth, help our members uncover and execute growth-focused initiatives.”
Renaissance has no entrance to join or exit fees or penalties and the cost of being a member is typically less than 1% of total premium, according to Cochrane.
Member agents are eligible for profit-sharing from all RAIS standard market carriers, regardless of the premium amount the agent places with the carrier; on average RAIS members receive 2.5 times the profit share they could receive as stand-alone agencies, according to the organization.
Interested in learning more about what Renaissance Alliance could do for your agency? Learn what our members have to say and learn why we believe that Agency Profit Sharing Matters…but Growth Matters More.