Selling an insurance agency is a significant decision that requires careful planning and execution. If you’re considering selling your agency, you aren’t alone.
As markets continue to harden, a previously small slice of the property and casualty sphere has made headlines as a busy – and growing – insurance sector. Excess and surplus line premiums topped $31 billion during the first six months of 2022. Most experts predict continued growth well into 2023.
Although we’ve been seeing indications of a hardening market for some time now, the state of the insurance industry shows no signs of shifting directions. Independent insurance agents will be feeling the squeeze when it comes to being able to provide coverage for clients. Here's how you can succeed despite the hard market.
Choosing a network partner can make or break your business. Independent agents should consider these four key characteristics of a network before committing to an insurance agency network.
Increasing numbers of new agency owners, existing independents, and former captive agents are looking to join agency networks to compete in a tough insurance market. But how do you choose the right agency network partner?
As we approach the halfway point of 2022, we continue to see the ripple effects on our industry of economic instability wrought by the pandemic. Although we’ve been seeing indications of a hard market for some time, the state of the insurance industry shows no signs of reversing this trend and it continues to tighten from a risk perspective.
One of the most destructive sales myths in circulation is how the “bulldog” insurance agent finally got the contract, the deal, the sale, after months of constant work. This myth is held up as the epitome of what sales is all about. For the vast majority of insurance agents, the sale is not worth hundreds of thousands in commissions.
InsurTech solutions have definitely changed the way we all do business. However, I encourage you to not consider InsurTech as a disruptor of business as usual, but as a new opportunity to optimize your agency. Here’s what you need to know about this game-changing trend.
I’m going to go where no author has gone before….writing an article about Cyber with no mind-boggling statistics that would scare you, no prattling on about coverages, sublimits, and first or third party exposures. No “inside baseball” talk about loss prevention and breach response being key to every business’s cyber security strategy. Frankly, you’ve heard it all before.
