Should Insurance Agents Work with an FMO?

Written by Lexi Williams

October 7, 2020

A common question many insurance agents have: “Should I work with an FMO?” There are advantages for insurance agents who work with an FMO. Let’s look at what an insurance FMO is, their role in the insurance industry, and how it can benefit insurance agents.

What is an Insurance FMO?

An Insurance Field Marketing Organization (FMO) is an organization that provides insurance products, service, and support to independent insurance agents and agencies. FMOs are also commonly identified as Insurance Marketing Organizations (IMO) and National Insurance Marketing Organizations (NMO); however, they each have the same primary function.

What does an FMO offer?

Services offered by an FMO typically include compliance, certification reminders, contracting support, carrier relationships, and marketing support. They also provide training programs that help insurance agents become skilled at the selling process and represent the insurance companies they work with. Some FMOs even offer exclusive access to technology, such as quote engines and enrollment tools.

While most FMOs provide similar services, the specifics beyond insurance products will vary from each company. To give an idea, let’s review some of the primary benefits and services offered by Agent Pipeline:

  • Top Contracts with Top Commissions
  • Compliance Building Programs
  • Marketing Dollars & Creative Support
  • Exclusive Technology for Quoting & Enrolling
  • Individualized Growth Plans Agency Building Resources

What are the advantages of working with an FMO?

There is plenty of opportunity to succeed in the Medicare insurance industry, and having the right support is essential to your success. A good FMO wants you to succeed as much as you do, if not more. Working with an FMO will minimize efforts and maximize success by providing insurance agents with opportunities they may not otherwise have. For example, some insurance companies don’t allow individual insurance agents to contract directly. They require insurance agents to be contracted through an FMO. Think about it; even if you could contract directly with an insurance company, you wouldn’t receive back office support or training. You’d sit on the phone with member services to resolve a customer service-related issue and miss out on prime-selling time. Insurance agents working directly with the insurance carriers are usually held to a higher production standard. If you were not able to meet the production standards, you’d miss out on bonus opportunities and could ultimately face termination.

How to choose what’s right for you

Choosing to work with an FMO is like selecting a partner or joining a team. It’s essential to ensure you choose an Insurance Marketing Organization that’s the perfect fit for you and insurance agency. Look for an FMO that aligns with your vision, goals and values. To help make your decision, ask your friends and colleagues questions like:

  • Does anyone I know work with this company?
  • What kind of support will I receive?
  • What are the office hours?
  • What product lines do they offer?
  • How will we communicate? (i.e., phone, email, chat)
  • Is there assistance with compliance?

There are many advantages for insurance agents to work with an FMO, and although many offer similar services, it’s important to realize that not all FMOs are equal. Choosing the right FMO will be beneficial to a successful career as an insurance agent.

We believe that together, we can accomplish more. If you are looking for an FMO to support you, consider choosing Agent Pipeline. With over 31 years of experience, we deliver excellence in every aspect of our business. We focus on development for new insurance agents, supporting the veteran insurance agents, and growth opportunities for insurance agents and insurance agencies of all sizes.

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