• What is the MarketScout Exchange?

    MarketScout is an insurance distribution and underwriting company headquartered in Dallas, Texas with specialty expertise in many areas. The firm is a Lloyd's Coverholder and MGA for U.S. insurers. MarketScout owns and operates the MarketScout Exchange as well as over 40 other online and traditional underwriting and distribution venues. In 2006, MarketScout founded the Entrepreneurial Insurance Alliance (EIA) and Entrepreneurial Insurance Symposium as a medium to profile innovation and entrepreneurialism in the insurance industry. MarketScout is the founder of the Council for Insuring Private Clients (CIPC) and administers the Certified Personal Risk Manager (CPRM) designation in partnership with The National Alliance for Insurance Education & Research.. For more information, please visit us at MarketScout.com.
  • How do I qualify to become a Certified Market Specialist℠ (CMS)?

    If you have unique, specific knowledge and experience in a specialty area and you are willing to work exclusively with retail agents/brokers, you may qualify as a Certified Market Specialist℠ Click here to apply (specialist application) Note: Certified Market Specialists cannot sell directly to the buyer.
  • What is a Certified Market Specialist (cms)?

    A major benefit in using the MarketScout Exchange is the Certified Market Specialist (cms), a seasoned and experienced insurance industry professional, who has dedicated him or herself to serving a specific industry or coverage class. The role of a CMS is to assist users who need support in a specific industry or coverage class. All Certified Market Specialists have unique agreements with insurance companies that specialize in their market segments. Some insurance companies have established a specialist in their organizations to serve the MarketScout Exchange while others have designated managing general agents or specialty brokers. All CMS must meet the high standards set by MarketScout. All CMS have signed agreements with MarketScout to serve as a consulting resource and marketing expert for users of the MarketScout Exchange.
  • What makes the MarketScout Exchange work?

    MarketScout is an insurance exchange through which the /broker can easily find and explore specific insurance products and market segments online. It is an Internet-interactive marketing innovation based on e-commerce technology that provides an online conduit between the independent agent/broker and MarketScout's Certified Market Specialist℠ The agent/broker can confidently compete for new business in a virtually limitless number of business classifications. The speed of the MarketScout Exchange provides quick and easy connectivity between the agent, the broker and the Certified Market Specialist℠.
  • Who can use the MarketScout Exchange?

    The MarketScout Exchange is available to all agent/brokers who sign a producer agreement, carry a valid insurance license and provide evidence of professional liability insurance at a limit of $1,000,000. There are no premium quotas or special requirements. The possibilities and opportunities are limited only by your desire to complete the registration form.
  • Does the retail agent pay anything to use MarketScout?

    No, retail agents can access MarketScout directly without any cost or fee. Retail commissions are paid to the agents who place business via the MarketScout Exchange. CICs and CISRs qualify for exclusive programs.
  • Do I need a contract in order to bind business?

    MarketScout and its Certified Market Specialists have contracts with the insurance companies. When you sign up as a MarketScout agent, you gain access to all of these markets. You will enjoy one entry point for access to hundreds of markets at retail commission rates.
  • What regulations must be adhered to by the Certified Market Specialist ?

    Our specialists are required to respond to all inquiries made during normal business hours (Monday through Friday, 8:00 A.M. - 5:00 P.M.) within 48 hours.
  • As a retail agent, do I need company appointments to use the markets outlined by Certified Market Specialists?

    In almost all instances, your MarketScout appointment provides you with full access to the companies listed on the MarketScout exchange.
  • What commission rate do retail agents receive when using MarketScout?

    In most cases traditional retail commission rates apply.
  • How are your "Best of Class" Certified Market Specialists and MGAs tribunalized?

    The insurer and/or their designated Certified Market Specialist must complete a comprehensive questionnaire, which includes information on their professional liability coverage, prior loss experience, general experience in the industry, reputation, work ethic and past experience. After compiling this data, all applicants agree to a financial and personal background search.
  • Can I be posted for an industry or coverage class that is not listed in the MarketScout Exchange?

    MarketScout will consider any new industry or coverage class as long as there is enough critical mass to justify developing a marketing plan and web site.
  • Can the Certified Market Specialist pursue my clients?

    Contractual arrangements between MarketScout and the Certified Market Specialist prohibit the Certified Market Specialist from pursuing any retail client's business that is bound through MarketScout.
  • Can a Certified Market Specialist assign sub-licensees?

    MarketScout must pre-approve an assignee and they will be required to meet all of the terms and conditions enforced between MarketScout and the Certified Market Specialist. The Certified Market Specialist will be responsible for all activities of the designee.
  • Does MarketScout hold property & casualty licenses?

    Yes, MarketScout has various licenses in 49 states. Our California non-residents license number is OB42019.
  • What is iPeople?

    ipeople is a network of insurance professionals sharing ideas and information. Users can locate other professionals based upon their specialty expertise (specialist in energy insurance of epli for instance),geographic location, prior employers, alma mater or by dozens of other search criteria. Users may also form groups to share information. Example: Former employees of Travelers or chicken farm insurance in Arkansas.

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