WHAT IS A GENERAL AGENT?
A General Agent (commonly referred to as a GA) is an insurance agency which partners with various insurance carriers to market and distribute their products to agents and brokers. We are an expert on various product portfolios, underwriting guidelines, eligibility, rates, and all other relevant carrier information.
WHAT IS A GA RESPONSIBLE FOR?
Our main line of business is communication. Whether it is staying up-to-date on changes in benefits, underwriting or rating structure, our job is get that information to you. We are also your resource for education and training.
We provide accurate, comprehensive quotes and proposals for the carriers we represent.
We have the answers to all your general and technical questions about the products we represent.
Our knowledgeable field sales managers support and assist agents with sales presentations, enrollments or benefit meetings.
We will pre-underwrite (“scrub”) and process enrolled groups to ensure all the necessary materials are submitted to the carrier in a complete manner. We are also responsible for following the group through initial underwriting, keeping the agent updated on the status of the case throughout the process, as well as negotiating with the carrier’s underwriting team to assure the case gets the best rating possible.
HOW DOES LISI GET PAID?
A General Agent is compensated by the carrier in the form of an override on business sold through the GA. The general agency method is a cost-effective distribution system since the carrier does not have to pay for any of the services unless a group is sold and placed through the general agency. This override is completely separate from the agent’s commission.
WHO IS THE BROKER OF RECORD ON THE CASE?
The writing agent is the broker of record on the case and receives full commission.
HOW MUCH DOES LISI CHARGE THE BROKER?
Using LISI is absolutely free! The broker receives the same commission going through LISI or going direct to a carrier. The difference is the service LISI provides.