More than 80 percent of $901 million annual premium growth comes from existing member agencies
Feb. 5, 2015 – Hampton, N.H. – SIAA (Strategic Insurance Agency Alliance) today announced it grew premium $901 million in 2014 to $5.7 billion, with 80 percent of its growth coming from existing member agencies. Premium growth with SIAA’s Strategic Partner Companies was up $576,741,559 in 2014.
Along with this strong organic growth, SIAA signed 410 new member agencies in 2014, totaling more than 5,300 member agencies signed since its inception in 1995. This growth marked the sixth consecutive year that SIAA has added more than 400 member agencies in one year.
“Our integrated model with multi-level partnering continues to be a proven solution to help agencies grow, with strong production in both premium and profitablity for our member agencies,” said SIAA CEO Jim Masiello. “Not only did we sign our 5,300th member agency in 2014 while experiencing strong organic growth, but we added value to members through professional development and education, access to program and specialty markets, lead generation and more.”
In 2014, SIAA was involved in several successful initiatives designed to help member agencies grow and improve profitability:
– Business Insurance Advantage, an educational program that gives personal lines member agencies the ability to start or grow a profitable book of small commercial lines business, launched and had 125 member agencies actively participating by year end.
– Agency Foundation, a program designed to assist new member start-up agencies get writing quality business sooner than might otherwise be possible, rolled out nationally.
– A new website with an enhanced member area offering greater interactivity between its multiple online channels.
– SIAA Training & Learning Center had more than 1,000 member agencies register in 2014 with a dramatic increase in the use of content, such as a series of proprietary ACORD form lessons and Business Owner Policy training.
– Alliance MarketFinder, SIAA’s member agencies website for placing difficult-to-write excess and surplus lines and specialty market business continues at a growth rate exceeding 20 percent.
– Insurancedeals4u (ID4U), the consumer-facing web portal SIAA rolled out in 2004 to provide consumer access to all SIAA member agencies, had more than 25,000 site visits providing 4,500 consumer leads to member agencies in 2014.
SIAA is a national insurance agency alliance dedicated to the creation, retention, growth and continued success of the independent insurance agency distribution system. SIAA has signed more than 5,300 member agencies through 48 master agencies across the country since its inception in 1995. Of that member number, SIAA and its Master Agencies have created over 3000 brand new start-up agencies coming predominantly from former captive agents. An estimated 13 percent of all independent agencies in the U.S. are or have been signed members of SIAA. SIAA brings profitable premium growth and quality relationship integration between its member agencies and strategic partner companies, and provides a wide range of resources to help agencies increase sales, retention, revenue and value. For more information on SIAA visit www.siaa.net.