Dan Garzella, Founder and CEO of Darkhorse Insurance Brokers and Garzella Group, was recently featured in Insurance Business as part of its two-part series, “Going independent: What captive agents must weigh before leaving.”
In part I, Garzella drew from his experience and discussed what captive insurance agents should consider before becoming independent.
His main advice is to treat the move to independence as a business decision. Before making the jump, agents should understand their monthly expenses, review their existing sales activity, and use their own performance data to estimate what the business could look like with access to multiple carriers.
He also encourages agents to think long term. Start with a clear vision for where you want the agency to grow, then evaluate whether the captive or independent model gives you the best path to get there.
He also points out that captive agents do not always realize how much support the carrier provides behind the scenes. Accounting, branding, and marketing are often handled or supported by the company. Going independent means taking responsibility for many of those areas yourself.
His takeaway: know what you are committing to, build a plan, and take firm action.
Read the full article here
