Agents’ association spins off consulting firm
Mid-Atlantic independent agency owners now have an ace up their sleeves: an off-shoot of their trusted agents’ association that specializes in business counseling. Following a soft launch in late 2016, Independent Agency Solutions LLC this month expanded its offerings to include website solutions and compliance services.
“Independent Agency Solutions is a first-of-its-kind business model,” said Rick Russell, president and CEO of Insurance Agents & Brokers (IA&B). “It capitalizes on the industry knowledge and experience acquired through an agents’ association and uses it to tackle agency principals’ nagging projects.”
The new services include a partnership with digital marketing firm Forge3. The collaboration allows agencies to adopt an interactive, custom website that includes IA&B resources and brand recognition.
Expanded services also address compliance. Independent Agency Solutions now offers tiered packages to handle producer agreements, referral fee programs, employee handbooks, privacy rules and additional compliance regulations.
“The services are for agency principals who don’t have the time or inclination to handle these projects on their own,” said Russell. “We aim to remove their administrative and management burdens and allow them to focus on their own area of expertise – selling insurance.”
A wholly owned subsidiary of IA&B, Independent Agency Solutions began by offering consultation on federal overtime rules. Several dozen independent agencies retained services and became compliant with the Fair Labor Standards Act.