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In this episode of The Power Producers Podcast, David Carothers interviews Kenny Urbania Chief Executive Officer at The Agency Collective. Kenny discusses The Agency Collective’s desire to help not only in the growth of agencies but also in the development of a leader. Kenny also shares the structure they have at The Agency Collective for agents in terms of commissions and bonuses.

Episode Highlights:

  • Kenny shares his background story and discusses his 24 years of experience in the insurance industry. (2:05) 
  • Kenny explains that The Agency Collective is more of a professional service business or agent co-op where they make a collective effort to put their premiums together in order to get better deals for the agencies and better bonuses for the agents. (6:05)
  • Kenny shares that in most situations, they do not charge anybody to join them, unless they want to get their premium right away. (12:27)
  • Kenny mentions that they monitor loss rates because they never want to touch commissions in order to provide agents 100% commission. (16:13)
  • Kenny shares that The Agency Collective is structured in a manner that they strive to pay agents as much as possible while still being the best partners with carriers. (22:41)
  • Kenny explains the importance of renegotiating the compensation levels and bonuses for the agents every year. (28:18)
  • Kenny shares that in addition to personal lines they also have commercial lines, life & financial, and they try to run on all platforms. (30:54)
  • Kenny shares one of his favorite success stories of a captive agent that broke free and took only 9 months with The Agency Collective to surpass the income he was making after 10 years. (43:36) 

Tweetable Quotes:

  • “We never want to touch commissions, we want to give the agents 100% of the commissions. We work on contingency and bonuses. And that’s one of the reasons why we watch loss ratios.” – Kenny Urbania
  • “The bottom line is it’s all about the revenue you can bring to your agency and the profitability and working together with the right person.” – Kenny Urbania
  • “We all sell boxes, some are bigger, some are smaller, I don’t care how big the agency is, or how small the agency is, there’s nobody that gets treated differently.” – Kenny Urbania

Resources Mentioned:

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