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Associate agent opportunity
The document summarizes the Farmers Insurance Associate Agent opportunity. It discusses that Farmers is a large, nationally recognized insurance brand established in 1928. The Associate Agent program is a 24-month program to become a full-time agent, requiring $100,000 in new business premiums and training. Upon completion, associates can become eligible for opportunities to own a Farmers agency through programs like Retail that provide bonuses and financial support over 36 months.
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Associate agent opportunity
- 1. THE FARMERS INSURANCE ® ASSOCIATEAGENT OPPORTUNITY CONFIDENTIAL 6-20
- 2. ABOUT FARMERS® Leadership, Stability,and Brand Recognition CONFIDENTIAL 6-20
- 3. 3 1928 Established More than 10,000Exclusive agentsin Serve more than 10 Million Households with more than 19 Million individual policies Award-winning training University of Farmers® Over $20 Billionin combined assets 36States 24/7Award-winning claims department service Over 20 Insurance and Financial Products CONFIDENTIAL 6-20
- 4. 4 BRAND RECOGNITION ANDCOMMUNITY INVOLVEMENT • Nationally recognized We Are Farmers® advertising campaign • Proud sponsor of the Farmers Insurance Open® and PGA TOUR® golfer Rickie Fowler • Supports at-risk youth through charities like Pro Kids | First Tee® of San Diego, Armed Services YMCA®, and others • G.I. Jobs® named Farmers® a Top 150 Military Friendly Employer in the US • Works with Team Rubicon®, Operation BBQ Relief ®, and SBP on disaster preparedness, response, and recovery, along with the Farmers Catastrophe Response Team • Supports first responder mental health through collaboration with the National First Responders Fund • Annual float participant in the Rose Parade® on New Year’s Day One of America’s most recognizable brands CONFIDENTIAL 6-20
- 5. 5 INSURANCE AND FINANCIALSERVICE PRODUCTS Personal Lines, Commercial, Specialty, Life1, and Financial Services2 CONFIDENTIAL 6-20 Property & Casualty • Auto • Home & Renters • Umbrella • Small Business • Habitational • Boat • Motorcycle • Motor Home • Mobile Home • Commercial P&C • Workers’ Compensation Life Insurance1 • Term Life • Whole Life • Universal Life • Indexed Universal Life • Critical Illness • Accidental Death • Disability • Group Term • Fixed Annuities • Advanced Market Life Solutions Financial Products2 • 529 Plans • 401(k) Plans • Variable Annuities • Roth IRAs • SEP • Simple IRAs • Variable Life • Mutual Funds • Nationally Recognized Fund Families Auto Home Life1 Business Recreational Motorcycle Umbrella Renters Financial2 1 Life insurance issued by Farmers New World Life Insurance Company, 3120 139th Ave. SE, Ste. 300, Bellevue, WA 98005. Products and features may not be available in all states and may vary by state. Restrictions, exclusions, limits, and conditions apply. 2 Securities offered through Farmers Financial Solutions, LLC. Member FINRA & SIPC. Some products may not be available in all states.
- 6. 6 OUTPLACEMENT OPTIONS Through whollyowned Kraft Lake Insurance Agency, Inc. and outside appointments CONFIDENTIAL 6-20 • National brokerage wholly owned by Farmers® • Provides Farmers agents with access to external company products that complement Farmers products and help round out accounts • Based in Grand Rapids, Michigan, Kraft Lake® is staffed with representatives who have a wide background of insurance experience • Business that is not acceptable to Farmers and not eligible for placement through Kraft Lake may be placed outside of Farmers Contractor’s General Liability High Value Homeowners Farm & Ranch Professional Liability (E&O) E&S Vacant Building/Land
- 7. WHAT IT MEANS TOBE AN EXCLUSIVE AGENT CONFIDENTIAL 6-20
- 8. 8 WHAT IT MEANSTO BE AN EXCLUSIVE AGENT • Numerousincentive and bonus opportunities1 - Growth bonuses for Personal Lines, Commercial, and Life - Achievement Clubs (Topper Club and Presidents Council) - Trips to the Farmers Insurance Open® - Other bonuses and incentive opportunities for performance as a Farmers agent • Opportunityto participatein our ProtégéAgencyProducer program1 • Agent appointment agreement - Business that is not acceptable to Farmers or eligible for placement through Kraft Lake® can be placed outside • Service and commission rights2 - Opportunity to sell service and commission rights on the open market - Opportunity to purchase service and commission rights of another Farmers agent • Contract Value opportunity2 Farmers support and products, acquisition and bonus opportunities, and more CONFIDENTIAL 6-20 1Incentives and bonus opportunities subject to change at any time and may not be available to all agents 2Refer to agent appointment agreement for more information
- 9. THE ASSOCIATE AGENT PROGRAM 24-monthprogram designed for business professionals who seek an entrepreneurial startup opportunity CONFIDENTIAL 6-20
- 10. 10 THE ASSOCIATE AGENTPROGRAM Associate Agent Program Requirements: 1. Active property, casualty, life and healthlicenses 2. Achieve $100,000in cumulative applicable New Business Gross Folio Premium (GFP) in a rolling 12-month period after appointment as an Associate agent 3. Successfully complete the University of Farmers® Associate agent trainingprogram 4. Complete a panel interview with Farmers representatives 24-month program to qualify for a Full-time agent opportunity Associate agent becomes eligible for Full-time agent appointment consideration upon completion of Associate Agent Program Requirements • Investable capital requirement is waivedfor applicable agent program (Retail, etc.) CONFIDENTIAL 6-20
- 11. 11 Attend University ofFarmers trainingprogram and network with other entrepreneurs across the country ASSOCIATE AGENT PROGRAM DETAILS Other Program Features CONFIDENTIAL Opportunity to receive $3,000 in Agency Marketing Associate Agent Bucks for lead generation when 50% of production goal is achieved Local FarmersOnboarding Consultant availablefor assistance during Associate agent program and prior to agency launch Training All policies written during Associate agent program will remain assignedto the Associate agentafter any Full-time agent appointment Growth Support Marketing
- 12. 12 ROAD TO FULL-TIMEAPPOINTMENT Path to becoming a Full-time agent CONFIDENTIAL Retail Agent Program Acquisition Agent Program Flex Agent Program Seed Agent Program New Agent Appointment Associate agent becomes eligible for Full-time agent appointment consideration upon completion of Associate Agent Program Requirements 1 2 3 4
- 13. 13 FULL-TIME AGENT OPPORTUNITY:RETAIL PROGRAM Six bonus opportunities 1. Exterior BrandingBonus to assist with obtaining initial, compliant exterior branding 2. $7,500 Signing Bonus in month 2 following Full-time appointment 3. $500 Monthly MarketingBonusfor up to 36 months if bonus qualification goals are met 4. Bonus on applicable netNB commissions paid while on Reserve agentprogram1,2 5. Monthly Bonus Program based on applicable net NB commissions and production for up to 36months2 6. Annual BonusProgram based on applicable net NB commissions and production for up to 3 years2 36-month new agent financial support program that rewards high levels of performance Other key program features 1. Retail bonus opportunities are in addition to commissions 2. Production requirementsreset each quarter and year 3. Additional bonus opportunitiesfollowing completionof the Retail program 4. New agent training program fromthe University of Farmers® CONFIDENTIAL 6-20 1This one-time bonus also applies to the Associate agent program 2Subject to specified maximum amounts
- 14. 14 RECRUITING AND ONBOARDINGPROCESS Next steps CONFIDENTIAL 6-20 Full-time Agent Appointment Goals • Complete program production goals Complete your Licensing • Obtain Property, Casualty, Life, Health and any other applicable licenses • Opportunity to obtain Series 6 and 63 securities licenses Review the Opportunity • Explore becoming a Farmers® agency ow ner w ith a local recruiter Training and Onboarding • University of Farmers® training program • Full-time agent business plan review Verify Eligibility • Pass background check • Career assessment profile Open for Business as a Full-time Agent 61 2 3 4 5