Who can help independent insurance agents with perpetuation?

Valuation Perpetuation wordle

What and who do you think of when you hear the words “trust,” “partner,” or “advisor?”

Words matter, but more than that, who you associate with words matters even more. 

If you have been watching the team at OIA and following our presence, I think you know that the words we are using and the actions we are taking have changed dramatically over the past 18 months.  

This is not to say that our foundation and fundamentals have changed.

But what we are doing for and with agents is changing –- let there be no mistake about it. 

Gone are the days that we only refer agents to other resources to find answers.

We have invested in in-house talent to provide our agents with access to information that will help them make sound business decisions.  

Here’s the thing — we exist to help independent agents succeed, that’s it.

We aren’t focused on anything else.

We have been doing business with independent agencies for more than 100 years.  We know your business. We know this industry.

Our success literally depends on our ability to help agents be successful.

That makes us the absolute best resource to provide the insights to inform agents on their business.

Did you know that more than 70 percent of current agency owners are going to be at or beyond retirement age in the next 5 years?

Of course, you do!

This is not a hard one –- all you need to do is glance around the room at any insurance industry event to come to that conclusion, right?

But did you know that that this shift in ownership will impact more than $4.5B in written premium in Ohio?

Guys, this is big.

Actually, it’s huge.

What is OIA doing about it?

We have invested our resources to build a consulting business dedicated to helping agents make informed decisions as they move through their perpetuation processes.

The perpetuation process looks and feels different for every agency, but the fundamental steps are the same.

OIA is here to make sure that agency owners are informed, know their options and have the resources and support that they need to make the best decision for their business — including their staff, clients, partners and families.

It’s as simple as that.

We are not here to decide what the best path forward is for an agency.

It isn’t our goal to help you sell out to the highest bidder at all costs, unless that fits your goals and values. Our goal is that you are well informed and understand all your options before you make a decision about the business you have worked your entire life to build. 

Once we understand what is most important to you, we will bring insight to the many different factors that you should be considering:

  • What is a fair price for my agency?

  • Should I sell externally or perpetuation internally?

  • How can I maximize by agency's value?

  • Who are the potential buyers, and how do I know if their values and goals align with mine?

If you know you want your agency to stay in the family, the questions could sound like this:

  • What is the right approach to transitioning the ownership of my agency?

  • What are the best financing options for my son/daughter to buy my agency?

  • What is the best financial structure of the deal, given my current corporate structure?

  • What tax implications should I be considering?

  • What is the best approach to introducing and transitioning my client and carrier relationships to the next generation?

  • What changes should I make in my agency now that will set my son/daughter up for success?

  • How do I inform my staff, ease their concerns, and get them involved and excited about their future?

  • How can I help prepare the next owner to be a strong business leader for the agency?

You may have heard that OIA can provide your agency with a valuation. That is true.

We can give you an immediate back-of-the-envelope range for what your agency is worth with our online tool.

We can also provide you with an in-depth full valuation. But it doesn’t end there.

We are equipped to help you walk through the entire perpetuation journey.

We have been, and always will be, dedicated to helping the independent agents remain strong. We do this because we believe that insurance is critical to a strong, functioning society and economy, and that independent agents are the best advisors, provide the best coverage and are best equipped to serve the insurance needs of our society today and into the future.

Ready to get started on your perpetuation journey with OIA?

Fill out an inquiry form, and our Valuation and Perpetuation team will reach out to you soon!

Fill out Valuation inquiry form

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