OFF-MARKET
OC Premium Supermarket Plaza Loc. – Non-Standard Auto Insurance Agency for Sale
Buena Park, CA – (Orange County)
OC Premium Supermarket Plaza Loc. Non-Standard Auto Insurance Agency – Ideal first transaction target or satellite reconversion opportunity for a multi-unit non-standard auto insurance agency chain.
Perfect location in the same plaza as a heavily trafficked supermarket that draws all kinds of foot and walk-in traffic, along with the sign guy. Not a portable book of business, need to take over the location, and need to be comfortable that cash is a key component of the value and net income of the client base that tends to be 50/50 cash & credit card pays.
Providing DMV / Registration services that typically hovers around $5k per month, Broker Fee revenue that hovers around $10k per month steadily, and about $8-$12k per month in commission revenues, the largest carrier is Infinity but it’s mainly the run of the middle non standard auto carriers.
NDA is required for initial package on file with ProNova Partners.
The personal market accounts for an estimated 51.2% of total industry revenue in 2017. This market is dominated by private auto coverage, which accounts for an estimated 37.1% of industry revenue in the same year. Homeowners’ coverage also accounts for a significant portion of the personal market and this product is used by individuals to try to shield their largest asset from risks like disasters, fires, theft and vandalism. Premiums paid by the personal market for products other than auto insurance are estimated to account for 14.1% of total industry revenue in 2017.
The industry relies on computer technology to maintain customer records, process financial transactions and maintain title records. Investment in information technology can provide cost advantages, as well as the ability to introduce new products, provide product support to sales staff and provide strategic information to customers.
Cloud computing is particularly anticipated to improve the operational efficiency of industry operators over the next few years. In addition, the new industry standard is real-time service and convenience, and technology is the best means to achieve this goal. Furthermore, according to Deloitte, a professional services firm, data collected from social media platforms will increasingly be
used by industry operators to benefit their businesses.
Moreover, additional technology investments will be necessary because of renewed concerns about privacy risks and mounting demand for transparency in reporting and self-disclosures. Despite the growing popularity of online insurance distribution, the complexity of insurance policies means that personal selling (i.e. direct contact with agents and brokers) will remain the dominant from of insurance distribution over the five years to 2022. To further advance online distribution, insurers must overcome the perceived complexity of insurance policies by developing easy-to-use online sales platforms that accurately match personal circumstances to coverage requirements.
(Sourced: Property, Casualty and Direct Insurance in the US June 2017).
OFF-MARKET – OC Premium Supermarket Plaza Loc. – Non-Standard Auto Insurance Agency for Sale
