Captive to Independent Insurance Agent 

There are several things to think about if you are a captive insurance agent who is considering becoming an independent agency. You are not a novice. You have the advantage of industry knowledge because you have worked in the insurance industry for a long time. Nevertheless, there will be some difficulties. However, with great preparation and consideration, these difficulties can be surmounted. 

When you overcome the obstacles, the rewards can be very satisfying. Owning your own business and being your own boss may be liberating and satisfying. You are responsible for your own success or failure. 

While switching from a captive to an independent insurance agency does not technically make you a “new agent” in the traditional sense of the term, it can feel like a fresh start. You won’t be able to rely on your current clientele and book of business for income. You’ll need to draw in fresh clients and figure out how to win their patronage and confidence. Here are some strategies for taking on this challenge: 

Be visible online and on social media.

Relying on word-of-mouth in the conventional sense is a bad strategy. This is because it can take time for the word of a happy customer to spread. To get your name out there and provide current and future clients access to rapid resources, you must create a social media presence and a beautiful, user-friendly website. A blog can help you become known as an industry authority. It also helps point visitors to your website and social media accounts for advice on the insurance industry. 

Make yourself known in your community.

Being an involved community member and networking are crucial. You probably didn’t have to put in all that much effort to build the brand name because your captive probably participated in a variety of charitable and community events. The independent insurance agent’s situation is quite different. You need to be known for more than simply insurance, too. Customers are seeking a personal connection that can only be achieved through local interactions, such as sponsoring a charitable event or giving to a local cause. 

Establish partnerships to maximize access to resources.

Associations play a significant role in the networking of independent insurance agents. By establishing contacts with other businesspeople in your field and gaining access to the association’s resources, you can learn vital information. SIA of Northern Ohio in partnership with SIAA has a multitude of services for independent insurance agents. 

While switching from a captive to an independent insurance agency can be difficult, it has advantages and rewards. We strongly advise you to look into the exclusive membership perks offered by SIA of Northern Ohio if you’re interested in switching from a captive to an independent agent.