6 Ways to Evaluate Networks

6 Ways to Evaluate Networks

When comparing Iroquois to other agency networks, groups or aggregators, consider the following 6 questions:

How would I access the network’s markets?
Many networks are set up to write business from their affiliated members through a central placement facility, or third party. We at Iroquois believe central placement adds an unnecessary and inefficient middle step in writing business. Through our Direct Access model, we would obtain one or more carrier sub-codes for your agency, which would allow you to write business directly with the carrier by using their online systems or contacting their underwriter.

Whose name would appear on the policy Dec page?
Centrally placed business usually bears the name of the network on the policy Dec page. Under Iroquois’ Direct Access model, your agency’s name would appear on the Dec page.

Is there an initiation fee?
Some networks charge thousands or tens of thousands of dollars to join. Iroquois does not charge an initiation fee.

Would the network take an equity position in my agency?
Several networks take an equity position in business written through their network AND in the business not written through the network as well. Iroquois does not take an equity position in its Member Agencies.

Can I earn profit sharing revenue through the network?
Some networks retain all profit sharing. At Iroquois, Member Agencies can participate in profit sharing with as little as $50,000 in profitable premium from a particular carrier. Depending upon the total premium written with Iroquois-provided carriers, Member Agencies can receive up to 100% of the profit sharing paid for their book.

What else can the network provide my agency besides Market Access?
We can’t speak for other networks, but market access is only one of many services Iroquois provides. Others include: revenue maximizing strategies, producer training and financing, marketing and sales support, HR and Risk Management resources and guidance, and much more.

To learn more about what Iroquois could do for your agency, contact us by  e-mail.