Archives for independent agents

We’re proud of what we do at iMGA and we’re happy to tell you what we think, but we know it means a lot more to hear it straight from other agents. Here are just some of the great comments we’ve received over the years:

“iMGA’s rating and policy management software is a breeze to use.” – Warren R., Austin

“[iMGA has] the second best quoting system I use… right behind Progressive.” – Allen M., Muleshoe

“iMGA’s underwriters really understand our market and what our agency needs.” – Danny M., San Antonio

“iMGA is very easy to use, very competitive and really nice to work with” – Melissa C., Waco

SmokedTurkeyThanksgiving is a special season. It’s full of great traditions like family time, delicious meals and good football games.

Even better, though, it’s a time when we count our blessings and give thanks.

At iMGA we are grateful for so much:

  • A fantastic team in the office. True friends who help each other at every opportunity and share more than a few good laughs.
  • The best agents in Texas. Every day we get to interact with professionals who really care about helping insureds get the protection they need at a reasonable price. Working with them teaches us what’s important to clients and makes it possible for us to provide even better products and services.
  • Families that support our effort and our dream. Without them we could not devote the time and energy we do to building iMGA into what we know it can be – and without them it wouldn’t be as worth doing.

We know we are incredibly blessed. Our wish is that everyone would have as much for which to be grateful, and that this season we would all take the time to appreciate what we have.

If you are a Texas insurance agent who would like to work with a Personal Property market that is truly appreciative – contact us.

TU-UTEP Football GameYou can’t turn on a football game these days without seeing one or two (or two dozen!) commercials for auto insurance companies promising to save you money. Many of those companies expect you to do most of the work and want you to call only them when you’re considering leaving your current insurance company.

There is a much better way, and no animal (small or large) has to be involved – work with a local insurance agent.

Agents Can Offer Options

Sure, you could spend hours or days visiting multiple web sites and/or calling multiple 800 numbers to try to be sure you’ve gotten the value, but who has the time? Independent insurance agents – and all the agents representing iMGA – can collect your information only once and then use that to get the best value best combination of price and coverage from every company they represent.

Agents Understand the Details

When you buy insurance you’re buying coverage, and there are a LOT of coverage options with every different company and product. An independent insurance agent is a professional whose full-time work is with the details. Using an agent ensures you don’t get any nasty surprises when something happens.

At iMGA we’re proud to work with some of the best insurance agents in Texas. Contact us so we can help you find one.

If you’re a Texas agent that would like another great personal property market, tell us a little bit about yourself.

Growth and Profit

Companies that work with quality independent agents can grow profitably.

A new Conning study identified 18 top personal lines insurance growth and profit leaders out of the 264 U.S. companies that write $20 million or more.

It is no surprise to those of us who work with quality independent insurance agents that a full two-thirds – 12 of the 18 – growth and profit leaders are also companies that work in whole or in part with independent agents.

The study also showed that sometimes “too big to fail” is also “too big to succeed” – with 14 of the 18 most successful companies smaller than $500 million in premium.

The Conning report comes on the heels of a McKinsey study that says “agents have neither the scale nor the operational efficiency to profitably sell a commodity.”

Of course that’s really the point – smart companies work with great agencies that are not trying to profitably “sell a commodity”. Great agencies are solving complex client needs and providing invaluable guidance and advice.

Those complex client needs are exactly why at iMGA we offer a full range of coverage choices:

  • Homeowners forms from HOA to HOA+ and HOB
  • Dwelling forms from TDP1 to TDP1+ and TDP3
  • Deductibles from $500 to 5%
  • Other Structures coverage from 0% to 40% of Dwelling limit
  • Loss of Use from 0% to 40% of Dwelling limit
  • Replacement Cost, Actual Cash Value, or Fire and Lightning Only coverage for roofs
  • And much more.

We work hard to make offering these choices as easy as possible, but it’s the independent agent we work with who makes it all possible and ensures the client has the right balance of coverage and cost for their specific needs. We couldn’t do it without you, and we know you’re the key to a very bright future for us.

If you’re a quality independent insurance agent in Texas and you don’t already represent iMGA for your client’s property needs, please contact us.

IIABA PC Survey2011 may not have been a great year for the U.S. economy, but it was a very good year for Independent Agents and their carriers, according to a new report by the Independent Insurance Agents and Brokers Association.

After years of market contraction, all property‐casualty insurance premium lines grew in 2011. Independent agents and brokers (IAs) were well poised to capture their share of the market. Many regional and national IA carriers expanded their shares by double digits. Furthermore, overall IA share grew in several states and regional IAs outpaced market growth in many business lines nationwide.

The report also showed that homeowners market expanded by $3.1 billion in 2011, closing the year at $73.0 billion – a 4.5% increase over 2010. Independent agents have been making significant increases in homeowners insurance market share over the past six years, growing from 22% to 26% of the total market. Almost all of that increase in market share has come at the expense of the large captive agency companies.

Based on data from A.M. Best, the report also includes information on commercial insurance sales and market share, and is full of valuable information for any agency personnel interested in the big picture.

Agent with clipboardAgent involvement is important throughout the entire customer experience – and agents add real value to the process.

By their actions, many of our competitors are proving that they do not feel agents add value at renewal. Some of those competitors are now slashing renewal commissions by as much as 33%. Others are slashing both new and renewal commissions significantly.

Because we work hard to keep everything as simple as possible – and value agent involvement – iMGA pays the same commission rate for both new and renewal business. We really like renewals.

It is also why we made it so that the agency fee would be collected on all renewals and not just on new business when we implemented agency fee options in our Rental product.

We appreciate our agents and work to show that appreciation in many ways every day. We know we’re better off because you work with us. We want your agency to be better off because we’ve worked with you.

Daniel Schwarcz, a University of Minnesota Law School associate professor and the author of an 88-page study scheduled to be published early next year in the University of Chicago Law Review, says homeowners policies differ “radically with respect to numerous important coverage provisions.”

Professor Schwarcz found that “all five companies with substantially less generous policies” use captive agents (like State Farm, Allstate and Farmers) but “two of the three carriers providing the most generous policy forms use independent agents”.

The study concluded that consumers are most likely to be harmed by potential differences in homeowners coverage “if those consumers do not have access to an intermediary that is informed about these differences.”  Also that “Captive agents… are substantially more likely than independent agents” to be unable or unwilling to offer consumers coverage alternatives.

In other words, it’s really important to have a good independent agent.

At iMGA we couldn’t agree more. We’re proud to offer fantastic coverage options most companies don’t, but that’s not helpful without great independent agents who care enough about their clients to make sure those clients are well covered.

Fortunately we have those – spread all over Texas.

Consumers: Find a great agent to work with on insurance for you home or rental dwelling.

Agents: Work with a company that appreciates the value you bring to your clients.

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