Q. Who is SIMG?
SIMG is an insurance cluster or aggregator, who enables smaller agencies to obtain direct company appointments. Smaller volume agencies if qualified, may obtain direct company appointments through SIMG with greatly reduced or no premium volume commitments.
SIMG is NOT a General Agent or Third Party Administrator, and does not quote, bind, issue or service insurance contracts.
Q. Who owns the business?
Agents own the business at all times, including agent’s choice of underwriting carrier (SIMG sponsored carrier, or not); renewals and solicitation rights during or even after termination of relationship with SIMG.
Q. In what States is SIMG authorized to operate and have active members?
Not all SIMG partner companies are available in all States. However, the following States are where SIMG is seeking and has active agent membership: AZ, CA, IL, IN, IA, KS, MO, TX, GA, MN, and WI.
$300 per year, or $600 lifetime for access to all companies. $150 per year or $300 lifetime for access to only: LAH, Forced-order bank programs, and extended care facilities.
Any member agent who refers a new agent to SIMG who subsequently joins, will receive a one-time $50 reward for paid annual membership, or $100 reward for a lifetime paid membership.
Carriers’ customary street commissions are split from 70/30 to 90/10 (Agent/SIMG). Ask for Producer Agreement for full details.
Commissions are ACH direct deposited to agent’s designated account once monthly, no later than the third Wednesday of the month. Detailed statements are provided electronically the following day. Balances are not paid until amount exceeds $50. Paper checks are provided upon special request, and are mailed no later than the third Thursday of the month.
Qualified commissions are paid as long as we have up-to-date valid E&O and licenses on file for the product line and state in which the business is written. Agents are responsible for sending E&O and License renewals to us.
Q. Profit Share, Bonus, Contingencies?
Once an agent achieves $30,000 of annual production with a particular carrier and SIMG earns a bonus from that particular carrier; agents share 50% of bonus along with all agents over the production minimum. Agents share the bonus pro-rata, based upon their individual premium production contribution as a percentage of all qualified sharing agents.
Q. Do Agents have direct Binding, Quoting, Service, and Policy Desk-Top Policy Issue authority?
Yes, to the extent individual carriers grant such authority to all their regular appointed agents.
Q. Whose name and contact information appears on policy declarations pages as “Agent?”
SIMG Member Agent’s information appears for all direct sub-agent appointments. SIMG Corporate information appears for those few companies where agents operate as SIMG House Producer.
Q. May I have or use other companies on my own at time of joining and/or obtained during my relationship with SIMG who are not provided by SIMG?
Yes. There are no restrictions for member agents to exclusively use only SIMG sponsored companies.
Q. What promotional materials are available for my agency’s use?
We provide a free customer brochure template with your agency name and contact information, for which you can reproduce on your desk-top or through your local print shop.
We provide a free “Press Release” to any local news outlets of agent’s choice announcing a new business relationship with SIMG.
Agents have complete and direct access to regular carrier supplied promotional materials including signs, newspaper advertising templates, brochures, plaques, co-op advertising, pens, etc., and radio copy.
Q. Carrier Codes?
Individual agencies receive sub-producer codes and carrier access under SIMG’s Master Codes. If requested, individual codes are provided for any individual agent producer at the agency as well. With several companies before you build a small client base, you will be an SIMG House Producer, (in these cases you will still receive your own portal and password protected access).
Most carriers are available on any comparative rating system you may employ.
Q. What kind of agent training is available?
Many SIMG carrier partners provide on-line training you may complete on your own schedule. Some carriers provide periodic Webinars depending upon special or new product announcements. Several have ‘phone or teleconference training capability, while others may personally visit your shop for installation and training.
Q. I am a company direct writing agent and wish to go Independent. What must I do?
Much depends upon your existing contract with your direct writing company with regard to non-competes during and after your contract period. You will need to consult your contract for guidance on your rights. We do not provide legal advice with regard to this or any other issues.
With some exceptions, our carriers will not contract with an agent personally holding a contract with a direct writer. Please call us and we can discuss some of the “exceptions.”
On our Going Independent section we have general guidelines for individuals wishing to become “independent” or to contract with our carriers for business your direct writer is unable to provide you and your clients. i.e., across state lines or a business line not available with your direct writer.
Q. Can I be terminated by SIMG?
Regulatory action necessitating termination of our relationship or any company appointment, will be effected based upon required and specified time frames. Terminations by SIMG or appointing carriers can occur with or without cause, or for lack of agreed activity for each carrier appointment. We can elect to non-renew annual memberships; but will not do so if it remains in our mutual interest to continue the relationship.
Q. Will I have a contract with SIMG?
Q. I decided to join SIMG. What are the steps?
- Submit the Producer Questionnaire (emailed to you after contacting us) to any of our owners; along with appropriate fee, current licenses, and E&O.
- Request our Carrier Outline and Summary, and carefully select carriers with whom you would like appointments. Be careful to select only those carriers with whom you have a reasonable expectation to regularly quote and secure business.
- We will remit to you additional required appointment paperwork for each requested carrier appointment. Paperwork will be submitted directly back to us for further processing with our carriers. You are requested to submit five sample homeowner and five sample automobile policy declarations from exiting agency clients (or their existing carriers) so our markets can determine agency compatibility with individual company market targets.
- Most carriers utilize free Choice Point Lexis Nexus MVR’s services for quoting purposes. You will be required to complete the process to obtain the code use across the carrier spectrum for auto business.
- Depending upon the carriers’ requirements, you may be contacted by their field personnel to respond to any of yours and their questions.
- Appointment process normally takes from one to six weeks for completion depending upon carrier administrative load and process.