National Agents Alliance
Encyclopedia
National Agents Alliance (or NAA) is a direct selling
company that uses network marketing to sell a variety of products, primarily in the insurance market.
, most likely learned by Andy Albright during his time as a Independent Business Owner(IBO) of Amway. NAA started by selling mortgage protection and life insurance. NAA eventually grew its product offering to include disability insurance and annuity
policies.
Sales doubled each year, from $22 million in 2003 to $46 million in 2004 to $100 million in 2005.
On Sept. 30, 2006, NAA moved into their headquarters in Burlington, N.C. The office includes a media studio, meeting and work space, and a warehouse which formerly belonged to textile manufacturer, Riddell & Cockrell.
In 2008, NAA expanded again by purchasing the A.D. Pate building near its headquarters. The building houses NAA’s call center operation, which handles outbound telemarketing and inbound customer service for those responding to advertisements for term life insurance
and mortgage protection.
In November of 2010 Andy Albright became a 100 percent owner of the company after successfully raising capital from Mutual of Omaha Bank. . As of 2011, NAA reported having more than 7,000 independent agents throughout the continental United States. NAA's business practices have been the subject of controversy and the company has been involved in several court cases in the United States since its foundation in 2002.
Some criticism has been directed toward National Agents Alliance. Although National Agents Alliance has been accused of being a negative multi-level marketing
company, it, like most fast-growing companies, continues to experience growth since its inception in 2002.
with a multi-level marketing
(network marketing) strategy. Independent agents may market products directly to potential customers and may also recruit and train other people to become independent agents. Agents may earn income from commission on any insurance products they sell personally, plus a performance bonus based on the sales volume they and their downline (agents they have sponsored) have generated.
The lead system has been scrutinized about how leads were distributed among agents. The company operates a complaint web site to handle some of the negative feedback from agents, much of it related to the cost, travel time, and value of leads.
, Foresters, ING
, Allianz
, Old Mutual
, Presidential Life, Monumental
, Assurity, Fidelity
, Columbian Financial Group, American Equity and Forethought.
Direct selling
Direct selling is the marketing and selling of products directly to consumers away from a fixed retail location. Peddling is the oldest form of direct selling. Modern direct selling includes sales made through the party plan, one-on-one demonstrations, and other personal contact arrangements as...
company that uses network marketing to sell a variety of products, primarily in the insurance market.
History
NAA was founded in 2002 by Andy Albright, Philip Hudgins and Barry Clarkson. Based out of Burlington, North Carolina NAA joins KIT Marketing and Pro Data Research under the parent company Superior Performers, Inc. The NAA system resembles that of AmwayAmway
Amway is a direct selling company and manufacturer that uses network marketing to sell a variety of products, primarily in the health, beauty, and home care markets. Amway was founded in 1959 by Jay Van Andel and Richard DeVos...
, most likely learned by Andy Albright during his time as a Independent Business Owner(IBO) of Amway. NAA started by selling mortgage protection and life insurance. NAA eventually grew its product offering to include disability insurance and annuity
Annuity
Annuity may refer to:* Annuity : any terminating stream of fixed payments over a specified period of time* Life annuity: a financial contract providing payments for a person's lifetime* Annuity...
policies.
Sales doubled each year, from $22 million in 2003 to $46 million in 2004 to $100 million in 2005.
On Sept. 30, 2006, NAA moved into their headquarters in Burlington, N.C. The office includes a media studio, meeting and work space, and a warehouse which formerly belonged to textile manufacturer, Riddell & Cockrell.
In 2008, NAA expanded again by purchasing the A.D. Pate building near its headquarters. The building houses NAA’s call center operation, which handles outbound telemarketing and inbound customer service for those responding to advertisements for term life insurance
Term life insurance
Term life insurance or term assurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or...
and mortgage protection.
In November of 2010 Andy Albright became a 100 percent owner of the company after successfully raising capital from Mutual of Omaha Bank. . As of 2011, NAA reported having more than 7,000 independent agents throughout the continental United States. NAA's business practices have been the subject of controversy and the company has been involved in several court cases in the United States since its foundation in 2002.
Some criticism has been directed toward National Agents Alliance. Although National Agents Alliance has been accused of being a negative multi-level marketing
Multi-level marketing
Multi-level marketing is a marketing strategy in which the sales force is compensated not only for sales they personally generate, but also for the sales of others they recruit, creating a downline of distributors and a hierarchy of multiple levels of compensation...
company, it, like most fast-growing companies, continues to experience growth since its inception in 2002.
Business model
NAA combines direct sellingDirect selling
Direct selling is the marketing and selling of products directly to consumers away from a fixed retail location. Peddling is the oldest form of direct selling. Modern direct selling includes sales made through the party plan, one-on-one demonstrations, and other personal contact arrangements as...
with a multi-level marketing
Multi-level marketing
Multi-level marketing is a marketing strategy in which the sales force is compensated not only for sales they personally generate, but also for the sales of others they recruit, creating a downline of distributors and a hierarchy of multiple levels of compensation...
(network marketing) strategy. Independent agents may market products directly to potential customers and may also recruit and train other people to become independent agents. Agents may earn income from commission on any insurance products they sell personally, plus a performance bonus based on the sales volume they and their downline (agents they have sponsored) have generated.
Insurance offered
NAA offers a few different types of insurance policies through its network of insurance carriers. Independent insurance agents sell policies from the following groups:- Mortgage Protection Insurance
- Life InsuranceLife insuranceLife insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...
- Disability InsuranceDisability insuranceDisability Insurance, often called DI or disability income insurance, is a form of insurance that insures the beneficiary's earned income against the risk that a disability will make working uncomfortable , painful , or impossible...
- Annuities
- Tax-Deferred Annuities
- Income Annuities
- Annuity Exchanges
Leads System
NAA offers leads to its agents across the United States. These leads are intended to help agents’ sale insurance policies. The company's multi-level compensation structure encourages managers to promote the purchase of leads, but there is no requirement to do so, nor is there a minimum number that must be purchased. Agents can also specify what area they would like their leads to be near.The lead system has been scrutinized about how leads were distributed among agents. The company operates a complaint web site to handle some of the negative feedback from agents, much of it related to the cost, travel time, and value of leads.
Subsidiaries
NAA also operates KIT Marketing and Pro Data Research (PDR) out of it Burlington, North Carolina headquarters.KIT Marketing
KIT Marketing writes and mails letters on behalf of their clients’ for direct mailing purposes.Pro Data Research
Pro Data Research is a national research company whose prime vendors are seeking to find fresh and complete mortgage data records.Carriers
NAA uses a variety of insurance carriers to offer financial products. Among the carriers NAA uses are: Mutual of OmahaMutual of Omaha
Mutual of Omaha is a Fortune 500 mutual insurance and financial services company based in Omaha, Nebraska. The company was founded in 1909 as Mutual Benefit Health and Accident Association.- History :...
, Foresters, ING
Ing
-In English:* -ing, a suffix added to English verbs to make a present active participle or a gerund* Ing, a word for a water-meadow-In old Germanic history:* Ing, Ingui or Yngvi, a Germanic god* Ingaevones, a West Germanic cultural group...
, Allianz
Allianz
SE is a global financial services company headquartered in Munich, Germany. Its core business and focus is insurance. As of 2010, it was the world's 12th-largest financial services group and 23rd-largest company according to a composite measure by Forbes magazine.Its Allianz Global Investors...
, Old Mutual
Old Mutual
Old Mutual plc is an international long-term savings group. Established in 1845 in South Africa, it is now a FTSE100 listed company operating in 33 countries.-History:...
, Presidential Life, Monumental
Monumental
-Music:* Monumental, an album by producer/rapper Pete Rock and rap duoSmif-N-Wessun** "Monumental", title track, and third single off of the album.-Other uses:* Monumental * Monumental Axis, a central avenue in Brasília's city design...
, Assurity, Fidelity
Fidelity
"Fidelity" is the quality of being faithful or loyal. Its original meaning regarded duty to a lord or a king, in a broader sense than the related concept of fealty. Both derive from the Latin word fidēlis, meaning "faithful or loyal"....
, Columbian Financial Group, American Equity and Forethought.