How to prepare an insurance agency to be sold

The perceived value of an insurance agency is impacted by a number of different factors, but there are three among them that will have the greatest influence. These three critical factors are the same as those that would influence the perceived value of any type of investment, and are: • Market conditions • Pro forma earnings • Risk connected with earnings in the future Market conditions are vital to the sale of any form of investment, and timing can significantly influence the sale’s net gain. The parts of market conditions…

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The future of insurance agencies and the broker’s role

In case anyone hasn’t noticed lately, we have come to the point in time where things are changing around us daily. Everything in business has to evolve with these changes to keep up and stay competitive. Insurance carriers and independent agencies alike are now trying to figure out what they can change, without changing what needs to be changed. It’s like the old saying, “can’t see the forest for the trees.” The insurers and the independent agents both have business specific issues, but neither one can see them. The insurance…

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