Run Time: 25:26
in On Point, Podcasts

Perpetuating Agencies Via a Network

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Lou Moran from Knoxville, TN is a seasoned independent agent who is learning some new tricks. Lou is leading the charge to create Fortified, a new agency alliance comprising 55 firms in seven southeastern states and some $2.6 billion in premium revenue via 35 carriers. “We’re trying to give independent agents a sustainable advantage to maintain independent,” particularly since many of its firms are family-owned, Lou says. “With all the M&A out there, it is scary.” Fortified is working on back-office support as well as coverage enhancements (e.g. benefits and cyber) just for members. Culture leads the day in interviewing potential members, Lou says. “We have learned a lot,” Lou says. “We don’t care how good you are; if you’re not a culture fit for us, you’re not getting in, because we are very collaborative, we share a lot, we help each other. A lot of aggregators are about revenue and market access, and we’re trying to build a true platform that allows us to keep doing what we do, take the back office off our plates, and let our producers sell, which we’re really good at.”

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