Independent Insurance Vs. Captive Insurance

Captive Advice:

• Works exclusively for one insurance company, obliged to give business to only that company.
• Priority is to develop business for the parent company above all others
• Provided with office allowance, benefits package, and pension from parent company
• Starting resources are often provided by the parent company
• Parent company can prohibit cross-selling other insurance carriers limiting options for the client
• Parent company can discontinue selling certain lines if unprofitable –resulting in loss of clientele.
• Inability to refer customers to whom you cannot sell a policy
• Parent company push certain policies (example: Whole-Life Insurance) over others and require agents to meet strict quotas or be terminated

Independent Advice:

• Represent multiple insurance companies and work on behalf of the client to provide the best products and policies to suit the client’s needs
• Freedom to sell multiple carriers without quotas
• Provide their own resources to start their business
• Freedom from strict regulations from a parent company to only sell one company
• Freedom to cross – sell other lines of insurance
• Ability to compare prices, products, features, and service amongst a variety of insurers
• Ability to sell a policy through another insurer if primary insurer cannot write the policy.
• Much larger product selection

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