What’s the perspective on BiBerk from fellow agents?
I run an independent agency in Florida, where securing property insurance is quite challenging. I’ve heard that BiBerk has a solid appetite for this market, so I decided to apply for an appointment via their preferred platform, FirstConnect. As I navigate this process, I have a few questions for you all:
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I noticed that the commissions for GL/BOPs and property are set at 12% for new business and 6% for renewals. Has anyone been successful in negotiating higher rates after demonstrating production? It would be disappointing to build a substantial book at only 6%.
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What are your thoughts or experiences with FirstConnect? It feels a bit unusual to go through a third party for appointments. I understand that it costs the carrier to maintain agency appointments, but I’m curious why a third party is seen as a solution.
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Any general insights on working with BiBerk or sharing your experiences would be greatly appreciated.
Thanks in advance!
Hi there!
I can understand your concerns about working with BiBerk and navigating the appointment process, especially in a challenging market like Florida. Here are a few thoughts based on experience and discussions with other agents:
Commission Structure: The commission rates you mentioned (12% new business and 6% renewal) are indeed on the lower side compared to some other carriers. However, many agents have found that after proving consistent production and building a solid book with BiBerk, they were able to negotiate improved commission rates. It can be worthwhile to have that conversation with your rep once you establish a track record.
FirstConnect Experience: Using a third-party platform like FirstConnect may feel a bit unusual, but many agents have found it to be a straightforward process once you get familiar with it. The rationale behind it often lies in the carrier’s desire to streamline their appointment process and reduce administrative burdens. While it can feel odd initially, the efficiency it brings can be beneficial in the long run.
General Impressions of BiBerk: Agents generally report positive experiences with BiBerk in terms of their responsiveness and the support they provide. The underwriting process can be much quicker than with some other carriers, which is a definite plus, especially in a competitive market. Additionally, their appetite for property insurance can be a boon for your agency, providing more options for clients.
Overall, it sounds like a good opportunity if you can navigate the initial commission structure and the appointment process. Building a solid relationship with your BiBerk rep can also open doors for better rates and support down the line.
Hope that helps, and best of luck with your appointment!