Step #1: The Groundwork

  • Establish a realistic timeline. Starting an agency will take time. How long it takes depends on your situation and how much time you have to work on it. It almost always takes more time than you think it will. Expect at least six months to arrange financing and two weeks to obtain E&O insurance.
  • Obtain qualified legal advice. This is necessary if you're in a current relationship that may involve non-compete or other contractual-related issues.
  • Get an overview of the independent agency system and an introduction to basic insurance knowledge. If you have operated your own captive agency, you are ahead of the curve (especially if you were able to establish a book of business outside the captive market). You understand how an agency works and are versed in the technical aspects of insurance contracts; however, for as many similarities between owning a captive agency and owning an independent agency, there may be just as many differences.

Agency Management


IIAM's staff has compiled this list of leading agency consultants across the nation. Web sites are linked from firm names where available. You can also find consultants through the American Association of Insurance Management Consultants at, This list is not all inclusive and is not an endorsement from IIAM.

Suggestions for making the most out of working with consultants:

  1. Understand your need as much as possible and what you hope to accomplish from outside expertise.
  2. Screen the consultant to validate expertise:
    1. Ask for written summaries of relevant client assignments completed.
    2. Ask for multiple references who can confirm the consultant met objectives.
    3. If you are going to get bids, start with a Request for Qualifications (RFQ).
  3. Be prepared to help the consultant get to know your organization.
  4. Get a written proposal. If you’re taking bids, prepare a Request for Proposal (RFP).
  5. Understand the fee structure including expense reimbursement and payment schedule. Have payment schedule tied to interim benchmarks so you can evaluate the program. Ask for a satisfaction guarantee.
  6. Get a written contract or letter of agreement that identifies consultant’s deliverables, role in implementation; if any, and criteria for interim benchmarks. Include non-disclosure and non-compete language. Make sure you understand your obligations for successful implementation.





Agency Consulting Group

Management, Sales, Technology, M&A

Business Management Group

Management, Sales, Technology, M&A

Chris Burand

Management, Sales, Technology, M&A

Fries & Fries

Management, Sales, Technology

Reagan Consulting

Management, Sales, Technology, M&A

Steve Anderson


Van Aartrijk

Marketing, PR

Wedge Group



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