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We are fueled by proven practices; data-driven strategies; entrepreneurial spirit; and strong local relationships, but the driving force behind our success is our people. Join us.
M&A Myths about
Selling Your Insurance Agency
As one of the top acquirers in the insurance space, Trucordia knows that the decision to sell your insurance agency is not one you take lightly. There are many pros and cons to consider, and not every deal is structured the same.
We break down the top three “M&A Myths” that we hear from new and prospective partners and why selling your insurance agency may actually provide incredible growth opportunities for you and your agency.
Insurance Industry M&A Myths
Myth #1: “Only people looking to retire sell their agency.”
As a successful entrepreneur, you’re not looking give up economic upside, especially when your agency’s best days of growth are in front of you. Your agency can achieve incredible results and outstanding growth but might be limited currently for some reason. You feel an acquisition would limit your opportunity to grow—or even worse, provide zero incentive to grow.
At Trucordia, nearly 60% of Agency Principals are under the age of 60, with nearly 44% under 54. When new partners are brought on board, it is not viewed merely as a transaction, but as a new member of the Trucordia family with a long and beneficial future ahead.
Myth #2: “I won't get to be my own boss.”
Perhaps your insurance agency is a long-standing family business that you are honoring the legacy of, or maybe you built your insurance agency from the ground-up, sacrificing not only your time and energy, but that of your family as well. No matter how you found your success, you are your own boss and an expert in your field. With an acquisition, you feel you would lose your voice and have little to no say in your agency or the parent company’s direction.
As a partner-owned and partner-led organization, more than 75% of Trucordia’s revenue goes back to the Agency Partners to empower them to continue investing in the growth of their agencies. In addition, Trucordia’s agency-centric operating model and entrepreneurial environment offers Agency Partners alignment through equity ownership and significant leadership incentives.
Myth #3: “I’m selling out to corporate, and it’s going to change my company’s culture.”
You’re not looking to ‘sell out’; you’ve worked too hard and too long building your agency’s reputation and brand equity. You and your employees know your industry, your clients, and your community, and if acquired, you fear terminations for consolidated positions, subsequently disrupting business.
100% of Trucordia’s Agency Partners are given the ability to operate under their legacy name and with their own employees. Trucordia Agency Partners have a strong desire to expand their capacity utilizing a deep bench strength of collective experience and preserve the local client and community relationships that built their businesses. They continue to lead and expand their businesses, guided by their expertise and pursuit of excellence.
Team-Driven Success
At Trucordia, we treat our acquired agencies as partners—in fact, we call them Agency Partners. As a people-centric organization, the Trucordia business model is fueled by the fundamental belief that, through collaboration, Agency Partners can focus on what they do best, knowing there is a support network of skilled professionals bringing forth industry knowledge and experience to provide world-class benefits design, insurance, and risk management services.
We’ve heard many “M&A myths” over the years as to why someone might not want to sell their insurance agency, but with Trucordia, the reality is that we are intentional in selecting Agency Partners who believe in the Trucordia business strategy, possess a proven track record of success, are highly entrepreneurial, and looking to grow beyond their current capacity.
Extraordinary opportunity.
Exceptional experience.
Trucordia is a top 20 insurance broker, and our agency-centric operating model and entrepreneurial environment support our tremendous growth profile, offering partners alignment through equity ownership, significant leadership incentives, and resources to over 3,000 employees throughout the U.S.
We are fueled by proven practices; data-driven strategies; entrepreneurial spirit; and strong local relationships, but the driving force behind our success is our people.