Q . What is the ICA Agency Alliance, Inc.?
A. ICA is a Master Agency affiliated with SIAA, Strategic Insurance Agency Alliance.
Q. Who is SIAA?
A. SIAA is a national insurance alliance comprised of Master Agencies throughout the country. The Master Agencies recruit and support Strategic Agencies within their market area. ICA’s marketing territory is eastern Colorado, excluding Arapahoe, Denver and Jefferson counties.
Q. What are the responsibilities of the Master Agency?
A. After recruiting the Strategic Agency, the Master Agency makes available its appointments to major carriers. It also provides management support, marketing, training and additional income opportunities to the agency.
Q. Why was ICA created and why affiliated with the SIAA?
A. ICA was established to help the smaller independent agency and others become an instantly Big agency while maintaining its Independence by having access and clout with insurance markets and clout necessary for their survival. This ICA Agency Alliance provides the means through the pooling of premium volume of all Independent Strategic Agencies. ICA is affiliated with SIAA because of its 20+ years of experience in agency networking and resources available to its Master Agencies and agency associates.
Q: What kind of agencies does SIAA look for?
A: There is no specific member profile and we have members of various sizes. Many of these members are smaller agencies in need of markets. However, direct writers, life, health and financial service agencies and producers, without a vesting in their book, will all find SIAA membership beneficial.
Q: What are the benefits of SIAA membership?
A: There are many:
- Access to top-rated carriers.
- Clout in the marketplace to compete with larger regional agencies while maintaining local identity and independence.
- Individual company appointments.
- Preferred agency contracts.
- Profit sharing with no minimum volume requirements.
- In-house marketing and advertising department.
- Utilization of our Group Life divisions to generate additional income.
- Discounts on agency management systems including AMS, INSTAR, Applied and Automated Rating.
- Service assistance with pricing and placing of all lines.
- Periodic newsletters, updates and topical meetings.
- Membership in SIAA, serving agencies like yours nationwide.
Q: How do the Master Agencies handle access to markets?
A: While all Master Agencies represent a select group of financially sound and competitive carriers, each Master Agency’s company representation varies. There are two methods for accessing these carriers. First is through a system called Access Plus, which allows members access to our top-rated carriers without having a direct appointment. Second is through direct company appointments or sub-codes arranged and aggressively encouraged by the Master Agency.
Q: Does SIAA provide additional income opportunities?
A: Yes. We are constantly negotiating higher commissions, bonuses and overrides with our carriers. Several excess compensation arrangements, premium financing and excess and surplus lines overrides are also in effect.
Q: Does SIAA address perpetuation needs?
A: Yes. There are several options for perpetuation under the SIAA agreement and in certain circumstances is contractually guaranteed by a formula included in the membership agreement