United Agencies Inc. - #18 Agency Partnerships 2019.
United Agencies Inc. - #18 Agency Partnerships 2019
$46,000,000 2018 Total P/C Revenue
United Agencies Inc. began as a cluster in 1962 when several insurance brokers came together to evaluate the direction of the insurance industry and how to best serve their customers in the future.
United Agencies is 100% member owned with an equal share for all members regardless of size.
"One member agency, one vote; and we have no ownership interest in any of our members' agencies," said Jim Stone, president. "There is no profit component in our fees. We simply pass along the cost it takes to run the back office of United Agencies in the form of fees and we are fully transparent in all we do."
Members maintain independent ownership in their book of business when accessing markets through United Agencies. Stone said 95% of the carrier appointments and relationships are through United Agencies, while the other 5% of the appointments are with the individual member agencies, typically because a carrier will not appoint an agency partner group.
Stone added that United Agencies represents "all of the major property/casualty carriers" does not restrict access to those carriers "in any way."
The cost to buy-in to United Agencies is about $2,500 with no commission splits and fees commensurate with volume.
"Profit-sharing is paid out based on a member's production with our profit-sharing carriers," Stone said. "Members receive 100% of any profit sharing earned.
United Agencies purchases agency E&O coverage on a group basis and the cost is shared by the member agencies.
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|Date:||Sep 2, 2019|
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