I am a commercial insurance producer. What are the most profitable industries to step after?
I just got started within commercial insurance, property & casualty, risk management, workers comp, etc. I have be told I need to find a niche to specialize in and be in motion after it. My goal obviously is to find a bazaar that will compensate extremely well. Thanks
Answers:
Congrats! on individual one of us!
Commercial insurance is where the commissions are at.
Depends on the Niche accounts you are going after.
If I were you I would turn after High volume property accounts like Condo associations/Apartment associations and real estate Developers. These are put on BOP's or packages and payment up to 20% commission.
Another choice is excavators/Graders. Join the local earth movers association. The larger contractors have roomy liability and Contractors equipment rates.
Also...with these contractors who do road work the most likely will inevitability contract Bonds. These beauties pay out 30 % comm on the most subdivision.
Get a program with one of your insurance markets that have an edge on the competition and pick up that phone! Source(s): AGent 37 years
Motor Truck Cargo Insurance. Ever notice adjectives those trucks on the road? They need insurance.
hotels....
I'd suggest aim for wallet share. That is have a portfolio of products that can be cross-sold to like peas in a pod client, and which add value to them. For example, if you insure the client's employer's liability, considering offering product liability. Perhaps fleet insurance.
And remember the addition services, such as fleet management, health and sanctuary training etc, etc, etc.
Commissions are all in the order of the same, except for workers comp which stinks for the work you have to put into it.
The big push button is, finding a niche where you ALSO have a flea market happy to write it. Many carriers won't touch a hotel/motel. Many won't do gas stations. Pizza shops are too small, manufacturer can be high hazard. Printers are high-ranking fire hazard. Governmental entities are hard to place, and there's extreme competition, plus they procure shopped out every year.
It's hard for someone ELSE to suggest a niche market that you can work within. What has worked for ME, is the video/televison production area. LOL DON'T ask me to share my market with you!! You'll have to verbs up your own, and build your OWN relationships with the underwriters. Source(s): agent, 21+ years
the Gaming biz is boosting. there is a rumor apple is joining the big leagues next to nintendo,Microsoft, and sony. you might find something there. Source(s): www.electronicarts.com - mega publisher
www.tiburon.com- orlando florida- most important studio
Related Questions:
Answers:
Congrats! on individual one of us!
Commercial insurance is where the commissions are at.
Depends on the Niche accounts you are going after.
If I were you I would turn after High volume property accounts like Condo associations/Apartment associations and real estate Developers. These are put on BOP's or packages and payment up to 20% commission.
Another choice is excavators/Graders. Join the local earth movers association. The larger contractors have roomy liability and Contractors equipment rates.
Also...with these contractors who do road work the most likely will inevitability contract Bonds. These beauties pay out 30 % comm on the most subdivision.
Get a program with one of your insurance markets that have an edge on the competition and pick up that phone! Source(s): AGent 37 years
Motor Truck Cargo Insurance. Ever notice adjectives those trucks on the road? They need insurance.
hotels....
I'd suggest aim for wallet share. That is have a portfolio of products that can be cross-sold to like peas in a pod client, and which add value to them. For example, if you insure the client's employer's liability, considering offering product liability. Perhaps fleet insurance.
And remember the addition services, such as fleet management, health and sanctuary training etc, etc, etc.
Commissions are all in the order of the same, except for workers comp which stinks for the work you have to put into it.
The big push button is, finding a niche where you ALSO have a flea market happy to write it. Many carriers won't touch a hotel/motel. Many won't do gas stations. Pizza shops are too small, manufacturer can be high hazard. Printers are high-ranking fire hazard. Governmental entities are hard to place, and there's extreme competition, plus they procure shopped out every year.
It's hard for someone ELSE to suggest a niche market that you can work within. What has worked for ME, is the video/televison production area. LOL DON'T ask me to share my market with you!! You'll have to verbs up your own, and build your OWN relationships with the underwriters. Source(s): agent, 21+ years
the Gaming biz is boosting. there is a rumor apple is joining the big leagues next to nintendo,Microsoft, and sony. you might find something there. Source(s): www.electronicarts.com - mega publisher
www.tiburon.com- orlando florida- most important studio
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