Insurance Agency Book Ownership
“Who owns the book of business?”
You’d be crazy not to ask that question. This is your livelihood, your blood, sweat and tears. As Dr. Rolf shows in this short video, you own the book you build with Firefly.
Book ownership usually has to do with what you can do at retirement, and what happens if you decide to leave the aggregator partnership.
Firefly takes a simple approach:
First, agents are free to do whatever they want with each client at any time. If you have carrier appointments outside of Firefly, you are welcome to rewrite clients to and from Firefly carriers freely. No penalties, no commission reductions, nor an expectation that you share commission with us on your outside appointments. You’re in control.
Should you ever decide to do a transfer of an entire carrier all at once, or roll a Firefly carrier to one of your own carriers, you can do that by paying a one-time transfer fee of 30% of the previous 12 months’ gross commission on the policies you are moving. You can do this at any time. You can transfer out your entire Firefly book of business if you’d like. You can also pick and choose specific carriers to transfer out of Firefly. You’re in control.
Here is an example of what those transfers could look like:
Let’s say you have a 650k book of business with firefly that generates a total of 100k in commission. According to our contract, you’d be getting 90k of the commission, and Firefly gets 10k.
Example 1: Should you decide you want to leave Firefly altogether, you would pay Firefly 30k, and we would transfer the book in its entirety to you. (We can only do for carriers that are willing to keep working with you outside of Firefly. You would then keep 100% of the commission (100k per year), and Firefly would no longer be part of the equation.
Example 2: Let’s say that instead of transferring it to yourself, you want to sell the book for 375k to a huge agency like Brown & Brown. No problem. You’d still just pay us the 30k, and Brown & Brown would take over your clients.
Example 3: Same 650k book of business. You have written 100k of that book with Nationwide, and you want to get that appointment on your own with Nationwide outside of Firefly. Let’s say the Nationwide book generates 15,000. You’d pay Firefly 4,500, and instruct the carrier to transfer the book to your own code.
Example 4: You want to give that 650k book to one of your children. If they sign up with Firefly, you can leave your book to them as a legacy at no cost. There would be no transfer fee, because the there is nothing being transferred outside of Firefly.
On the other hand, if your child has a book of business, and you want to add your Firefly book to theirs, that is also possible, and it would require the 30k transfer fee, since the book is being transferred outside of Firefly.
So there you have it. Agents love the peace of mind Firefly offers by having lots of carriers satisfied through They also love the peace of mind knowing there is a simple path to leave should that need ever arise.
Learn more about what Firefly can do for you by downloading our ebook.