Why Iroquois Could be a Great Fit for Your Agency

Iroquois adds value to your agency.

Iroquois® is a network of more than 2,000 independent agencies in 44 states writing over $1.5 Billion in premium with affiliated Carrier-Partners. Agencies with premium from $2 million to more than $100 million join Iroquois to grow revenue, profits and agency value, without sacrificing independence.

Iroquois provides the following:

Credibility

In the past few years thousands of P&C producers were polled by Insurance Business America about their experience with insurance networks and Iroquois received a “Five Star” ranking. Over 2200 members with agency premiums ranging from $2M to $100M+, benefit from Iroquois’ member customized solutions.

Flexibility

Iroquois doesn’t interfere with the management of its Member Agencies. The Members choose which Iroquois benefits and services are best for them. Agencies remain 100% independent and never give up equity or pay any initiation fees or dues.

Profitability

Because of its size and historic profitability with its core carrier-partners, Iroquois earns compensation that individual agencies cannot match. Members can begin earning profit sharing with as little as $50,000 in premium with a given carrier. Depending upon how much total premium a Member writes with Iroquois carriers, highly partnered members can earn 100% of the profit-sharing revenue.

Marketability

Iroquois partners with over 25 core carrier-partners, and even more specialty and niche carriers. Through its Market Optimization process, Iroquois helps to analyze each Member’s carrier mix and identify the optimum carrier line up so Members can write and retain more business, while maximizing revenue and efficiency. New carrier appointments through Iroquois typically come with lower volume commitments than direct carrier appointments.

A successful Iroquois Member is distinguished by four qualities:

01

They are profitable for their carriers

02

They have an appreciation for the importance of profit sharing in generating agency profits

03

They are open to partnering with Iroquois to maximize revenue

04

They are multi-line competent with an emphasis on commercial lines

Learn what value these agents found through their Iroquois membership:

Keller Stonebraker Insurance Inc., Maryland
Keller Stonebraker • Insurance Inc., Maryland

With total agency premium approaching $100 million, Keller Stonebraker’s goal is to become one of the largest independent agencies in Maryland. The relationship with Iroquois, though unusual for an agency of this size, will help them achieve their goal.  Kent Reynolds sees his relationship with Iroquois as that of a mutually beneficial partnership.  “Developing a relationship with Iroquois can be as important to an agency as their relationship with their leads carriers,” said Kent. Over the past few years he has consolidated more business to Iroquois for the greater financial rewards that Iroquois provides.

“Keller Stonebraker is a perfect example of what the Iroquois Preferred Member Agreement can do for a very large agency,” said Iroquois Regional Manager, Lindy Bane.  “The agency has the potential to earn more than 100% of their share of profit sharing from Iroquois carriers and, because of our size and historic profitability, Iroquois can reach profit sharing levels that even $100 million agencies have difficulty reaching.”

Lindy noted that the agency has taken advantage of Carrier Business Building dollars and free Commercial Leads, and has benefited from Iroquois’ preferred commission schedules with two carriers that they would not have qualified for on their own.

Kent thinks his Iroquois connection also brings an added measure of support in his relationship with his carriers.  “No matter how much you grow with a carrier, they always want more.  Iroquois’ National Account status with its core carriers adds a greater dimension to our relationship with our carriers, and that can be very beneficial.”

Paul Megginson of Risk Management Partners
Paul Megginson • Risk Management Partners

Located in Flowood, Miss., Risk Management Partners is a $15 million agency anchored by multiple niche industry programs.  In April of 2011, the agency connected with Perry Grant of Iroquois South and conducted a deep dive into how an Iroquois partnership could benefit the agency through enhancing revenue and agency value.

The principals of the agency, Paul Megginson, Guy Warren and Bob Ganz, did their due diligence and reached out to existing Iroquois members to vet the opportunity.  What they found was that Grant and Iroquois South were indeed delivering on their value proposition to members.  It didn’t take long for the agency to move forward with Iroquois, and today they are one of Iroquois South’s largest partnerships.

RMP has taken advantage of Iroquois’ Market Alliance program with 12 of their carrier relationships, and generated significant revenue gains in doing so.  Grant still remembers profit sharing season in 2015 when he delivered his largest check ever to the agency.  Per Perry, “It was wonderful to deliver a check that was more than 50 percent  greater than the agency would have earned with the carrier on their own.  When our teams synch up like we have with RMP, the potential is really unlimited.”

Since joining Iroquois, the agency has enhanced its revenue.  Yet, the partnership with Iroquois extends beyond the financial components. According to Megginson, “We don’t hesitate to call Perry and the Iroquois team to draw on their deep carrier relationships, resources and market knowledge.  On more than one occasion, the Iroquois team advocated with carriers for our agency and we benefited with favorable resolutions to issues.  The Iroquois team is always ready to help whenever they can and we gain the advantage of their strength in the market.”

Nick-Tropiano
Assured Risk Advisors, Pennsylvania

According to Nick Tropiano of Assured Risk Advisors of Irwin, PA, “Taking Kurt Keller’s call two years into starting the insurance agency, was the best thing I ever did!  Unlimited access to Kurt and his industry knowledge, technical expertise, market savvy and strategic approach to our insurance agency and the insurance business has helped us tackle challenges head on and helped propel us forward as an agency.”

The insurance agency has grown to more than $4 million in written premium since they opened their doors in late 2010.  Nick and Kurt have worked closely to ensure that the agency takes advantage of all Iroquois has to offer.  According to Kurt, “Assured Risk Advisors has leveraged key tools available through Iroquois insurance to improve revenue and grow their business, including Market Alliance, Direct Access codes, producer training and producer financing.  It has been an honor to help the insurance agency achieve their goals.  Nick and his staff’s commitment to excellence and professionalism has allowed them to create a very successful agency in a short period of time.”
With 8 shared carrier relationships, the insurance agency has also experienced the revenue gains associated with a growing Iroquois insurance partnership.  Nick is very proud to share that he has exercised Market Alliances with multiple carriers and seen the exponential gains on those books first hand.  Most recently, he earned a $12,000 check on a $300,000 book of business where the insurance agency would not have qualified for profit sharing directly.  The potential to earn bonus was just the incentive needed for his team to refocus production efforts with the carrier to generate the growth that maximized their Iroquois pay-out.

Nick stated that, “Our Iroquois relationship captained by Kurt Keller, is the singular most important success factor in our agency.  Kurt has been a key contributor to our strategy and consistently helps fuel our insurance agency’s success. We look forward to working with Kurt for years to come.”

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