Independent agents compete against large national brokerage houses all the time. Marsh, Higginbotham, Gallagher, HUB, Willis and all the other Big Boys tout superiority over the little bitty guys in every community across the country. “We have internal resources your local broker doesn’t have” is their branded sales message.
So the little guys are fighting back by aggregating talent, markets, best-in-class internal and external resources employed to greater effect than any of the Big Boys ever dreamed about.
Mitigate Partners, LLC is an example of an association of leading independent health insurance experts in the industry. Each member has their own resources shared among all for the common good. These include ERISA attorneys, CPAs, and all the major players in the health care space. Talent, resources and out-of-the-box thought processes are not limited to the extent the Big Boys are.
The following article discusses the rapid rise of insurance networks and alliances:
5-Star Insurance Networks and Alliances in the USA
Agents can be supercharged by connecting to insurance networks. The top-performing networks harness a range of benefits such as greater access to products, the ability to tap into non-traditional markets, vendor discounts, and even marketing support.
To that end, Insurance Business America’s 5-Star Networks and Alliances 2023 recognizes some of the best in the industry as ranked by agents across a range of criteria.
These groups are making a resurgence, according to John Tiene, managing director of Strategic Agency Partners.
“There was a time when agents worked together to take care of their community,” he says. “Sometime between the 1970s and 1990s, that got lost. But it’s back, insurance is about scale. The more scale, the more influence and opportunity exists.”
What’s the difference? All the “Big Boys” are really the same, an aggregation of independent agencies bought up by the Mother Ship and branded under a national name. Gallagher and Higginbotham are buying up independents faster than a melting raspa in August. Employers are comfortable with brands. Would you buy Kellogg Corn Flakes or Catalina Crunch Flakes? Would a school district hire Joe Sixpack Consulting over Willis? The power of a brand cannot be overstated.
