Top 5 Things You Should Do Before Selling Your Agency

​For most independent insurance agency owners, their agency is their most valuable asset. It is a part of who you are, and a big part of your life. It is understandable that selling your agency will no doubt be a significant milestone in your career. Whether you are planning to perpetuate internally or sell externally, preparing to sell your agency is a complex and multifaceted process. The more time you give yourself to prepare in advance the more options you will have for your agency's future. To help you navigate this journey, we have compiled a list of the top 5 things you should do…

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Three Elevated Risks When Buying an Agency in a Hard Market

​By: Colby AllenGoing through the process of buying an agency can require a high amount of effort in a stable market, so trying to make an offer now can change how you perform due diligence. Many agencies are trying to manage threats to their operations such as client retention, staff retention, and even carrier retention.Although these risks are a normal part of evaluating the agency many agency owners are struggling to manage one, if not multiple, of these important factors of their business. This article will dive into each of these risk factors in more detail while also providing some questions you should consider when…

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Managing Carrier Risks in Your Book of Business

By: Colby AllenAs an insurance agency owner, managing risks within your book of business is crucial for ensuring long-term success and profitability. With so many places facing hard markets, it's essential to adopt strategies that safeguard your top and bottom lines while providing excellent service to your clients. In this article, we will explore three key areas that can help you effectively manage risks and actualize your agency's potential.Aligning with Multiple Partner Carriers Can Help De-Risk Your Top and Bottom LinesOne of the most effective ways to manage risks within your book of business is by aligning with multiple partner carriers. When it comes to…

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