Benefits Buzz
How Insurance Brokers Save Money and Increase Sales with a General Agent
Posted on July 19th, 2018
Did you know that a General Agent helps brokers make more money and doesn't cost a penny to the broker?
Even after 30 years in the business, we sometimes get confused looks when we tell people that we’re a General Agent. As it turns out, not everyone fully understands the wide range of services provided by General Agents or the value that they bring to insurance brokers. For brokers who don’t currently work with one, there are often misconceptions about why General Agents exist, how they operate and how they get paid. Well, we’d like to take a minute to clear up any confusion.
What is a General Agent?
As a General Agent (commonly referred to as a GA) Flex partners with various insurance carriers to market and distribute their products to brokers. We are experts on the various product portfolios, underwriting guidelines, rates and all other important carrier information.
GAs allow insurance carriers a cost-effective way to manage brokers’ sales and service needs and are compensated by the carrier in the form of an override on business sold through the GA. This override is separate from the broker’s commission, so the writing agent remains the broker of record on the case and receives full commission.
What does Flex do for our brokers?
At Flex, our sole purpose is to support your business needs and enhance your sales and service efforts. We serve as an extension of your agency and deliver many resources to help you grow your business, including:
- Simplified access to leading insurance carriers
- Innovative sales strategies
- Comprehensive business processing—from quoting to implementation
- Personalized consultation and client support
General agents help save time and money.
Working with Flex can help you reduce your back-office overhead expenses and streamline the management of your book of business. Our all-inclusive approach allows you more time to prospect for new clients, close deals and build your business.
Flex offers more than just access and support, we provide strategic solutions that separate you from your competitors. From our carrier relationships to integrated products, we help you distinguish yourself with innovative plans for any market segment that help you earn more and add value for your clients.
Now that we’ve cleared things up a bit, we think it’s safe to say that working with a General Agent is the most profitable, efficient solution for you and your clients.
Want to grow your business with Flex?
Reach out to a Flex Sales Consultant to discuss how we can take some of the operational burdens off your shoulders, allowing you more time to focus on sales opportunities.
Learn more about what we can do for you at www.flexmarketplace.com.
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