Smart Choice reports record growth
Smart Choice reports record growth | Insurance Business America
Insurance News
Smart Choice reports record growth
Expansion spans deals and agency numbers
Insurance News
By
Terry Gangcuangco
Agency network Smart Choice, a wholly owned program of Worldwide Insurance Network, is reporting record growth, thanks to both organic expansion and acquisitions resulting in pro-forma earnings more than doubling in the last 12 months.
According to the agents program, it has completed more than $100 million in acquisitions across 15 separate deals over the past year.
Meanwhile, as of May, Smart Choice has already integrated 700-plus new agencies into its network of over 10,000 active agencies nationwide – set to make 2024 the eighth consecutive year of adding more than 1,000 new agencies annually.
Andrew Caldwell, Smart Choice president, said: “Fueled by tremendous growth in our core business, now is the time to double-down and scale our market position. We will continue to be aggressive and strategic to provide the best partnership experience for our agents whether the market is hard or soft.”
Smart Choice is known for its agent-friendly contract, which requires no upfront payment to join. Agents are also not locked into a contract and retain 100% ownership of their business while being supported by local territory managers.
“When I met with Network X and Network Y, all I heard was talk about money – how much of my money they’re going to take,” Patton Financial & Insurance Group’s Andy Patton shared. “When I met with Smart Choice, they talked about opportunity, and how they would walk alongside me because they have a vested interest in my success.”
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