Frequently
Asked Questions
WHAT
IS BGI AGENCY NETWORK?
We are a growing network of Independent
Insurance Agencies in Northwest Washington. We offer
growth opportunities
to agencies wishing to remain independent while being
able to compete with
larger regional agencies and clusters.
HOW DID THE BGI AGENCY NETWORK CONCEPT ORIGINATE?
The concept began in 1982 with Satellite Agency Network
(SAN) of New England in response to changes in the Independent
Agency system. At the time, many local agencies were
finding that it was impossible to meet volume
requirements, keep markets
and survive. SAN allowed the local independent agent
to remain independent, keep existing markets
while gaining new ones,
generate additional income and receive profit sharing
without having to sell, merge or cluster. SIAA
and BGI Agency Network
are building on SAN's success.
WHAT KIND OF AGENCIES DOES
BGI AGENCY NETWORK LOOK FOR?
There is no specific member profile and we have
members of various sizes. Many of our members are smaller
agencies
in need of markets or agents looking to start their own
independent agency. However, direct writers, life and
financial service
agencies and producers without a vesting in their book
will all find BGI Agency Network membership beneficial.
WHAT
ARE
THE BENEFITS OF BGI AGENCY NETWORK MEMBERSHIP?
- Access to carriers
- Clout in the marketplace to compete
with larger regional agencies
while maintaining local identity and independence
- Individual company appointments
- Preferred agency contracts
- Profit sharing with no minimum
volume requirements
- Utilization
of our Group and Life divisions
to generate additional income
- Service assistance
with pricing and placing of
all lines
- Consulting on all aspects of agency
operation
HOW
DOES BGI AGENCY NETWORK HANDLE ACCESS TO MARKETS?
There are two methods. First is through Access Plus,
which allows members to submit to our top-rated carriers
on a ‘producer’ basis. Second is through Direct
Access, which allows members to access our companies
directly through
codes set up by BGI Agency Network.
HOW LONG DOES IT TAKE TO GET SET UP ON A DIRECT
ACCESS BASIS?
That depends on the company and on the agency. If you
have an existing agency, or if your new agency already has
E&O, the proper licenses etc, the appointments happen fairly
quickly. If you are still in the process of setting up
your new agency, appointments take longer. But, you can always
submit
to BGI Agency Network on an Access Plus basis until you
are appointed with the companies.
IF I JOIN, AM I GUARANTEED DIRECT ACCESS TO
ALL YOUR COMPANIES?
No, there is no guarantee you’ll be approved with all
our companies. We match agencies with the companies that best
fit their situation. But, we are constantly re-evaluating your
agency’s growth, so if your not appointed when you first
sign up, you can be appointed later.
DOES BGI AGENCY
NETWORK PROVIDE ADDITIONAL INCOME OPPORTUNITIES?
We are constantly negotiating higher commissions,
bonuses and overrides with our carriers. Several
excess compensation arrangements, premium financing and
excess and
surplus
lines overrides are also in effect.
HOW DO I JOIN?
Please complete this informational form and someone
will contact you and discuss all your membership options.
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