https://completemarkets.com/Article/article-post/2068/SUCCESSFUL-STRUCTURAL-OPTIONS-MERGER-CLUSTER-OR-ACQUISITION/
...ssful Structural Options: Merger, Cluster, Or Acquisition?
SUCCESSFUL STRUCTURAL OPTIONS: MERGER, CLUSTER, OR ACQUISITION? by Catherine O...f given a choice between merging and clustering, a merger is the best way to e...
https://completemarkets.com/Article/article-post/2069/THE-CLUSTER-OPTION-A-SHORT-SURVIVAL-GUIDE/
The Cluster Option: A Short Survival Guide
THE CLUSTER OPTION: A SHORT SURVIVAL GUIDE ...f given a choice between merging and clustering, a merger is the best way to e...
https://completemarkets.com/Article/article-post/2154/CLUSTERING-REVISITED/
Clustering Revisited
CLUSTERING REVISITED by Roy Phillips Learn from this clustering success story. In the 1...ment philosophy. Whichever the case, clustering is clearly playing a role in t...
https://completemarkets.com/Article/article-post/959/CENTRALIZING-CUSTOMER-SERVICE/
...nless they join an administrative cluster). Larger firms with Personal and sma...p, was one of the Independent Agency System’s most widely respected ...
https://completemarkets.com/Article/article-post/948/EXTERNAL-GROWTH-WITH-SUCCESSFUL-ACQUISITIONS/
...nother agency, merge with one, or cluster with several? Or is it perhaps more..., was one of the Independent Agency System’s most widely respected mana...
https://completemarkets.com/Article/article-post/401/10-Steps-To-Overcome-Competition/
...e competition through mergers and clusters. I'm not averse to either mergers or clusters, unless the reason for the change i...s develops a camaraderie and support system that has proven to be a mainstay i...
https://completemarkets.com/Article/article-post/2573/Characteristics-of-the-Most-Successful-Independent-Agencies/
...agencies together into mergers or clusters.
Automation advances, including better communication with company systems, as well as improved education and t... to have a state of the art computer system. Your employees need to know how t...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/948/EXTERNAL-GROWTH-WITH-SUCCESSFUL-ACQUISITIONS/
... plan, assess your agency's individual strengths and weaknesses. Evaluate your current situation. What kind of business combination (if any) would complement these strengths and/or shore up the weaknesses? Would it be favorable to acquire another agency, merge with one, or cluster with several? Or is it perhaps more accurate to put you in the group of potential sellers? If the only reason to acquire another agency is greater volume to cover expenses and/or keep your companies happy, it might not be such a good idea ... not be in an acquisition mode. Even the best agency purchase will generally cost more money than it will make over the short term. Unless there's a cushion to fall back on, the demands of the acquisition on total agency cash flow can literally drag the whole operation under. To be a healthy buyer, your agency should have a current ratio of at least 1:1 , a trust ratio of more than 100%, a receivable/payable ratio of less than 75%, and a tangible net worth that's in ... including special arrangements among them. Reputation: Image in the community and standing among the local competition and insurance companies. Physical description of the agency, including: Location (condition, layout); owned and leased equipment (including company cars); and agency automation system. List of stockholders or partners by name and percent of all types of ownership. History of changes in ownership for which outstanding notes or agreements still exist. Review of buy/sell agreement or other internal perpetuation documents. Review of deferred compensation, non-compete, ...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/760/Creating-Your-Business-Plan/
... insurance industry) is the main reason why planning is so important. We must plan for the effects of competition, changing market conditions, economic shifts, and more importantly, for the continuation of our agencies, whether by perpetuation, sale, or a merger/cluster. Finally, we must have a plan for profit because of the ever-increasing cost of automation and such everyday overhead expenses as group health, training, and education. In reality, the reasons to plan are as endless as the individual needs of each agency. ... . Without regular follow-up, you'll see little change. Everyone knows that you can't take one golf lesson and then join the PGA Tour. It requires hundreds of lessons, practice, and regular coaching to attain this level of success. The same holds true of agency operational changes: Owners and managers must provide regular follow-up and coaching. CONCLUSION By applying these steps and disciplines, you can not only change direction, but also transform the "culture" of your agency. You might also enjoy a reduction in your premium. In ... industry. Five years ago there were 55,000 independent agencies. Today there are estimated to be somewhere between 40,000 and 43,000. This fact alone suggests that there needs to be a tremendous amount of planning within the ranks of the independent agency system. The fact is, however, that only 10% of us have a fully developed written plan that each staff member is aware of and following. That leaves 90% of agents at a critical time in the insurance industry without the necessary planning tools to ...
https://completemarkets.com/Article/article-post/486/How-To-Remain-Competitive-In-A-Changing-Industry/
... independent agencies have joined clusters, and another 9% are involved ...arketing to clients and prospects. A system can help an agency learn ...