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Whats the difference between an IMO and FMO?
An independent marketing organization (IMO) is basically the same as an FMO. Some agents believe FMOs tend to focus more on health insurance products while IMOs tend to focus on life insurance products, but this isn't always true.
What is an FMO in the insurance business?
FMO stands for field marketing organization, which is very similar to an independent marketing organization (IMO). FMOs provide independent agents with perks and resources and help them get contracted with carriers to sell plans.
How are FMO paid?
FMOs are paid an override by the insurance carrier to help provide agents and agencies services. The override and commission an agent/agency makes are separate entities. FMOs experience chargebacks just like you. Team up with a partner FMO to get all the benefits!
What should I look for in an FMO?
A good FMO will have a website that's up-to-date and easy to use. In general, you'll find product and carrier information, contracting and quoting information, and staff information. But perhaps one of the best ways to get a first impression of an FMO is to spy on their blog.
What is an FMO in the insurance industry?
What Is an Insurance FMO? A field marketing organization (FMO) is a company that supports independent insurance agents in their sales endeavors and client retention. FMOs provide an extra level of support to agents through excellent customer service and state-of-the-art resources and tools.
What does an FMO mean?
A field marketing organization (FMO) is basically the same as an independent marketing organization (IMO). FMOs are typically top-level organizations that are licensed to sell health insurance products in most, if not all, states.
What’s an IMO insurance?
What is an IMO? An IMO (Independent Marketing Organization) works as a partnership between independent insurance agents and insurance carriers. The best IMOs will help you with marketing, training, contracting, recruiting, and ongoing support.
What does IMO mean annuity?
An independent marketing organization (IMO) is basically the same as an FMO. Some agents believe FMOs tend to focus more on health insurance products while IMOs tend to focus on life insurance products, but this isn't always true.
What does FMO mean in insurance?
A field marketing organization (FMO) is basically the same as an independent marketing organization (IMO). FMOs are typically top-level organizations that are licensed to sell health insurance products in most, if not all, states.
How are FMO paid?
FMOs are paid an override by the insurance carrier to help provide agents and agencies services. The override and commission an agent/agency makes are separate entities. FMOs experience chargebacks just like you. Team up with a partner FMO to get all the benefits!
What should I look for in an FMO?
A good FMO will have a website that's up-to-date and easy to use. In general, you'll find product and carrier information, contracting and quoting information, and staff information. But perhaps one of the best ways to get a first impression of an FMO is to spy on their blog.
What is a Ga and FMO?
What is an FMO/IMO/GA? Commonly referred to as FMO (Field Marketing Organization), IMO (Independent Marketing Organization), or GA (General Agency), an insurance marketing organization is a third party that works between the independent insurance agent and the insurance carrier.
What is the difference between an FMO and an IMO?
An independent marketing organization (IMO) is basically the same as an FMO. Some agents believe FMOs tend to focus more on health insurance products while IMOs tend to focus on life insurance products, but this isn't always true.
How are FMO paid?
FMOs are paid an override by the insurance carrier to help provide agents and agencies services. The override and commission an agent/agency makes are separate entities. FMOs experience chargebacks just like you. Team up with a partner FMO to get all the benefits!
How does an FMO work?
What Is an Insurance FMO? A field marketing organization (FMO) is a company that supports independent insurance agents in their sales endeavors and client retention. FMOs provide an extra level of support to agents through excellent customer service and state-of-the-art resources and tools.
Can you have more than one FMO?
Can I Have Multiple FMOs? The short answer is yes – you can have contracts with as many FMOs as you want.