Earn More Money as an ICA Alliance Member
INCOME PERFORMANCE CHART
The two graphs show a comparison of the revenue an insurance agent may expect to earn from an Agency with a written premium volume of $1,270,000, the average size of an ICA/SIAA 3-year-old independent agency. The chart comparison assumes that a typical captive agent would make an average of 10% commission, the traditional independent agent 15% and the ICA/SIAA agent with 15% commission plus the guaranteed supplemental compensation. No profit-sharing revenues were included in the chart totals as they vary from $0 for some agents to very high for others. ICA distributes 70% of the
money it receives from the insurance companies with a loss ratio of less than 60% in addition to the amounts shown on the graphs. Additional profit sharing income will be even more favorable to the agent. All revenue includes both new and renewal income but assumes that the agency size of $1,270,000 in written premium remains the same for all of the 15 years without additional premium growth. The difference in income shows the cumulative growth after 15 years. All amounts are estimates and will vary for each induvial agency based upon the insurance companies that the agent places business.
Year One Income
250,000
200,000
150,000
100,000
50,000
0
12 Months
3 Months
6 Months
9 Months
ICA/SIAA Agent
$ 52,000
$ 105,000
$ 157,000
$ 210,000
Independent Agent
$ 45,000
$ 90,000
$ 135,000
$ 180,000
Captive Agent
$ 35,000
$ 70,000
$ 105,000
$ 140,000
6 Financial Benefits
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