Worksheet for Potential Agencies

Potential Agency Worksheet

Thank you for expressing interest in becoming a Patriot Agency. Agency partners are the lifeblood of our operation – a source of new business, the front line underwriters, and primary service contact for customers and policyholders.

At Patriot Insurance Company our agency partnerships fuel our growth and provide the foundation of our shared success. Because so much of our success depends on our Independent Agency partnerships, we offer the following as examples of guidelines we consider when appointing new agencies to represent our company.

Potential Agency's Requirements

• Profitability – The potential agency has an established track record of consistent profit generally 60 percent or better loss ratio during the past several years. Additionally, the Agency is able to document loss ratio anomalies with its top 5 companies.
• Technology — A potential Patriot Insurance Partner Agency must provide high-speed Internet access to its entire staff, and it must be committed to maintaining state-of-the-art automation. An updated agency management system is not required, but is preferred to protect the integrity of our customer information.
• Business Plan — A solid written business plan including marketing and perpetuation plans have been in place. Such a plan will illustrate a desire for long-term growth, specific sales goals and objectives.
• Growth — Revenue or written premium increases at an acceptable rate for the previous three years.
• Appetite Awareness — The Agency must have a complete understanding of what we want to write – premium size, main street-type business, billing plans, etc.
• Premium Commitment — Depending on the size of the Agency, a three- year written premium commitment is established for new appointments.
• Location - The potential agency should be located in a growing / prosperous community within Maine, New Hampshire or Vermont.
• History — The potential Patriot Insurance Partner Agency will have an established business most often for a period of five or more years.
• Financial Strength — The Agency must be financially stable and willing to share current financial statements.
• Sales Culture – It is critical that the potential Patriot Insurance Partner Agency shares our same level of pride and ethical standards when writing new accounts, and provides outstanding service to its existing clients.

If your Agency has met, or can meet, the above guidelines, we want to learn more about your operation and invite you to consider completion of the following worksheet. We will have one of our representative contact you shortly to discuss a partnership.