You've made the decision to form a captive premium finance company. You've also chosen to run your operation either by outsourcing to a third-party vendor or using software to run the operation in house. Chances are that your lending arrangement and state licensing are also in place. You're now ready to get started and you want to book your first loan. Before you open your doors for business, take a moment to consider some important factors in this new frontier of insurance premium financing.

IMMS Consultant Mike Manes strives to facilitate change, communication, learning, and positive results. To that end, Manes has written this powerful, substantial document. The IMMS Management Center will post it in three installments. Used singly or in combination, these documents will help you build your skills and achieve your goals.

PREPARATION IS KEY TO MAXIMIZING THE VALUE OF YOUR AGENCY by Sharon Cunningham Use these guidelines to increase your agencys value and get the best price w...

AGREEMENT made and entered into this ____ day of ____________, 20__ by and between [NAME OF INSURANCE AGENCY], a [State] corporation having a principal place of business in [City, State], (hereinafter the 'Agency') and _____________ of ____________, [State] (hereinafter the 'Producer').

PRODUCER COMPENSATION: A PRIMER by Al Diamond One of the most common questions that we get each week is 'How much should we pay producers?' The range that weve encountere...

PRODUCER EQUITY POSITIONS by Al Diamond Never offer equity in a producer's created book of business. Well, 'never' may be too absolute. Let me put it this way. Never offer equity only ...

PRODUCER EQUITY: GOOD IDEA OR BAD? by Al Diamond Never offer equity only in a producers book of business if the goal is to reward a producer for success or to cement the re...

Last week I was at a regional meeting where I met up with several producers from Texas. Having been a producer (a long time ago) and knowing how to swing a golf club, I fit right in. Being as committed to growth as I am, I ask the killer question that quickly exposes a problem. “John, what’s your growth goal for this year?”
He pauses and says “Um...around 65%.”
“Uh-huh. Where’s that from?” I asked.
“Well, I doubt I can do 80% and I didn’t want to sound like a loser and say 50 %, so I came up with 65%.”

PRODUCTIVITY UP, PROFITS DOWN by Carol Hammes It's common wisdom that profitability should track directly with productivity. Often this is true: If the employees are more productiv...

PROFILE CHECKSHEET OFAGENCY HEADING TOWARD BANKRUPTCY by Chris Burand How healthy is your agency? This checksheet and financial analysis criteria can give you the answer. Use thes...