As an insurance broker, you’ve faced many challenges as of late:
- New rules and regulations are introduced almost daily
- More admin work needs to be done, diverting your attention from important matters
- Price comparison websites have manipulated the general public into believing that cheapest equals the best when it comes to insurance.
In light of these things, you’ve perhaps considered retiring or off-loading elements of the business to make things more manageable, free up your time or focus on the things you enjoy.
If you’ve considered selling your business, you’ll know that the options are slim, complicated and have disappointing returns…
A consolidator will only pay one times commission for a personal lines book of business. For a package SME book of business, the commission paid is typically up to two times commission income.
These amounts are paid half upfront, and the remaining balance is paid after a year (depending on renewal retention).
Meaning you could only receive half your usual commission with nothing more to come.
Disappointing for a lifetime of hard work, isn’t it?
However, there is now a better way…