Loop launches equity program for independent agents

Car insurance startup Loop Insurance is introducing the ‘Partner Agents’ program – “the first ever equity-upside program for independent agents.”

The program provides equity incentives and local-impact grants in addition to traditional commission-based compensation structures.

The program will debut later this year.

“The idea is that our Partner Agents should benefit, in a meaningful way, from the growth they help to create. Reframing the Carrier/Agent relationship is long overdue, and it starts with giving agents a stake in your business, and a voice at the table. While we welcome agents of all backgrounds, we also recognize the equity gap in the composition of Independent Agent representation today. We will have a focus on agents who insure underserved populations, and who themselves may be a minority, woman, or immigrant.” – John Henry, Loop co-founder and co-CEO.