It means you’ve got a tremendous, built-in advantage as an independent agent.
Because 86% of CL premiums are already flowing our way. That means the commercial insurance market is already pre-disposed to buying from you!
And while commercial insurance has many advantages, you can – and should – take it one step further, if you want to eliminate competition and build an agency that can support you in style and one day sell for a tidy sum (as I did).
You see, after 35 years in this industry, I’ve found that:
• If you want to make some money, get into personal insurance.
• If you want to make good money, get into commercial insurance.
• But If you want to make CRAZY MONEY, get into niche commercial insurance.
By niche commercial insurance, I mean a small segment of the marketplace where you can attract and serve the commercial clients you choose ...
... instead of being a generalized agent serving anyone.
All you need is the right mechanism to gather up CL clients into a niche, then tap into that flow of premiums.
When I started with this strategy, I knew nothing about commercial lines -- or niches. I was honestly intimidated by the idea of selling CL. I could barely spell BOP, let alone do one.
Yet I was able to rapidly reach $1 million in premiums -- and well beyond -- largely by focusing on a narrow slice of the market in California, including Microbrewers Insurance, CorrectComp and National Restaurant Programs.
If I can do it -- with a high school education, in a highly regulated state like California, and NOBODY to teach me about commercial niche insurance -- anyone can.
And I’m not alone.
Some of the most successful agents in America are finding riches in commercial niches and programs – in this hard market – after they first started out in PL.
Like Russ Castle.
He’s getting up to 40 inbound calls every month from qualified prospects, on demand. When he gets too busy or wants to go on vacation, he simply “turns off” his marketing. When he wants more premium, he turns it back on. His agency is so efficient and profitable, he has ONE person servicing 3,000 accounts. All because he dominates the habitation niche in California.
Or Bill Butler.
He’s as busy as he wants to be because he’s getting a steady flow of leads delivered by sales reps at other companies, who sell to his CL clients. He never has to cold call or worry about gatekeepers because other people do the work for him! All that’s possible because he dominates the veterinary medicine niche in Minnesota.
Or Chris Paradiso.
His stated goal is to build his agency to $100 million in premium volume. And he’s absolutely going to do it. That’s because he created insurance programs – exclusive to his agency – that let him dominate the delivery insurance niche for FedEx and Amazon drivers.
As you can see, Russ, Bill, Chris – and I – have found success that’s safe from today’s hard market.
And now it’s your turn ...