U.S. Risk Brokers  Want to Make More Money in the Insurance Business? Specialize.  

Insurance producers who specialize in an industry or insurance product line tend to make more money than those who don’t. The same goes for agencies that encourage their producers to specialize bring in more revenue than those agencies that are content with generalization.

Identify Areas of Focus

An agency may already have areas of focus of which it is unaware. All they need to do is survey their book of business, Sitkins said. If there is an industry in which the agency has several accounts that is a good place to start because there is obviously a level of expertise within the organization to service those types of accounts, he said.

Become an Expert

“Prospects know very quickly if you know their business,” Sitkins said, so learning about the particulars of a line of business is imperative.

Manage Change

Staying dedicated to the business at hand is difficult for some agents, especially when an opportunity outside their expertise develops.

Use Technology 

From researching a particular industry to using tablet computers in presentations to clients, the advantages of technology in the sales process are undeniable, Levins said. The “challenge is to pick the right data to tell the story.”

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