Program/Contract Highlights
As a Partner of Colony West you’ll gain all of the advantages of your larger and more established competitors.
Following are some key reasons for you to consider applying for membership:
ü DIRECT ACCESS to all of the preferred carriers that a successful agency needs. That means you have Colony West sub-producer codes and we extend our authority level to you! That means quicker quotes and more accurate underwriting. How many times have you seen a carrier write an account just to decline the same type of risk for you? This can very often come down to the fact that the underwriter did not have a clear picture of the risk. In addition, the reality is that some carriers such as Allied do not even deal through Wholesalers.
ü NATIONAL LICENSING. With Colony West you can now write in any state where we have carrier representation. When that large commercial account of yours tells you they are opening up a location in New York you can proudly tell them no problem!
ü GREATER INCOME is beyond the grasp of agencies that do not have the volume and profitability to offer the carriers they do business with. As a member of Colony West you’ll share in the higher level of commission that we receive. In fact, if you don’t have direct access to preferred carrier access now then the revenue on the book you place through our direct carriers should increase your revenue by at least 30%.
ü PROFIT SHARING. What would you be able to do with an extra 20% in revenue? Well, some carriers lucrative profit sharing can be as much as that and we share that with you! It’s hard to grow when you don’t have the financial resources to fuel growth. As a partner of Colony West we help you to fuel the fire.
ü LOWER OPERATING COSTS are achieved for those Partners that maximize the benefits of membership. We have negotiated DRASTICALLY reduced costs for essential tools such as AMS 360, printing, E&O, professional employee and producer contracts, etc.
ü MORE REDUCED OPERATING COSTS are achieved for agencies who take advantage of carrier service centers. Did you even know that most preferred carriers today will handle ALL of the certificates, endorsements, billing inquiries and any other customer service needs of your customers? When Colony West first participated in service centers we were able to double our revenue with the same level of staff.
ü INCREASE AGENCY VALUE by developing a book of preferred business. When you consider selling your agency, buyers pay significantly more money for a preferred book of business than for a book of surplus lines or sub-standard business.
ü OFFER MORE TO YOUR PRODUCERS AND CLIENTS. How much easier would it be for you to attract high caliber sales people and clients and KEEP THEM if you had all of the resources available through Colony West? And what would that do to your bottom line and equity value?
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