Insurance Agency Insights

Peter is joined by Jon Jamieson, CIC - AgileCap's new Senior Agency Advisor. In a quick, 12-minute conversation they cover the ins and outs of doing a periodic culling of your agency's book of business. Learn why this is a best practice for agencies who want to grow strategically.

This is the second of five episodes focused on helping agency owners understand what's involved in acquiring a new agency in order to build their existing business. 

In this episode, Peter and Doug discuss due diligence - a critical step in considering any  acquisition. In due diligence, a prospective agency buyer enters into a formal process with the owner of an agency he/she is considering purchasing. The process allows for an investigation of the agency's financials, operations, and legal details so that the prospective buyer can understand the agency business, assess it against competitors, and look for any signs that might suggest problems at the agency. 

Peter discusses the 4 keys he has found helpful in ensuring success in due diligence. 

This is the first of five episodes focused on helping agency owners understand what's involved in acquiring a new agency in order to build their existing business. 

In this episode, Peter and Doug talk about how to approach, find, prepare for, and secure insurance agency acquisition financing.

We're aware that agency owners may want to grow through acquisition, but they may not think they can afford it, or don't believe that they're eligible for funding. We want to walk you through how agency owners can set themselves up to borrow money in order to acquire an agency and bring their business to the next level. 

Peter and Kyle Castle, AgleCap Lending Advisor, talk about the ways that agency owners have been able to buy, invest, grow, and sustain their agencies through borrowing. This isn't a shameless plug for AgileCap, it's a series of tales from Kyle's lending experiences, that show how agency owners have been able to seize opportunities for growing their agencies, even when they had a hard time finding financing for one reason or another. It's worth listening to if you're an agency owner who's considering growing your agency in any way in the coming year. You'll pick up valuable tips and insights.

Peter and Mike discuss what it means to be a traditional lender, like a federally chartered bank. They talk about the importance of finding the right borrower-lender fit over the course of your agency's lifespan. Mike polishes up his crystal ball and he and Peter talk about the future of lending over the coming 12-24 months, and why it sometimes makes sense to inter-refer clients to other lenders, in the client's best interest.

Peter and Kelly discuss SBA lending, the importance of finding the right borrower-lender fit, and the future of M&A and lending as the insurance industry enters an initial recovery phase from the COVID pandemic.

Peter and Doug are joined by Sam Patterson of Springtree Group to discuss how to execute an acquisition as a buyer or a seller, when to bring in third party facilitators (lawyers and accountants, for example), when acquisitions tend to happen through a normal year, the impact that COVID has had on the M+A market and pricing, and the outlook for the insurance industry in a post-COVID world. 

With a background as an acquisitions advisor to multibillion dollar corporations, Peter offers his insights into strategic growth through M&A. Whether you want to grow your agency in size, grow in a geographic area, or grow your product line offerings, a merger or acquisition could be a valuable strategy for your agency. Peter and Doug discuss various aspects of M&A that agency owners should be aware of when thinking about agency growth (Part 1 of 2).

With the unforeseen pandemic we find ourselves in today, Peter and Doug discuss what agencies should know about working with a lender. Peter explains the criteria that lenders use in considering whether to make a loan, and how the criteria change in an economic downturn. He also shares information about how agency owners can best prepare their businesses for borrowing, in case they need funding during the coming months.