Branch opens up agency appointments in 13 states

Insurance startup Branch, which has been dealing with layoffs and underwriting losses, is opening up new appointments for independent agents in 13 states: AZ, IA, IL, IN, KY, MO, MT, NE, NM, OH, OR, UT, and WI.

In a note we obtained by the agency network, it is stated that Branch has not opened up new appointments for 8 months and will be “very selective.”

Additional highlights include:

• 16/13% commission on bundled business.
• Monoline auto policies will offer agencies an 8% commission and monoline home will pay out 5%.
• Branch may terminate agencies if more than 30% of their production with the company is monoline business.
• The agency’s personal lines book must have a loss percentage of 75% or less to be considered for an appointment.
• Branch is “100% geared” towards preferred/standard business and does not even want a “borderline non-standard” customer placed with them. Agencies will need to provide proof of a personal lines book consisting of 85% or more preferred/standard business.
• At this time, Branch is not interested in a scratch/brand-new agency.
• Agencies are required to provide a business plan specifically outlining how they generate leads. Branch’s preference is referral partners and long-standing relationships and they require agencies to have no more than 25% of their leads generated from the internet.