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...ets. If your business is in a small town, anything that is written or printed ...ople look for in the Yellow Pages is a tow truck, and the second is an insurance ag...

... becomes more sophisticated. Do your homework Before you find a market, the first step is to assess the potential of a specialty program. I cannot stress enough the importance of market research. Start by finding out how many insureds fit your niche program. How many tow truck operators do business in Arizona? What's the number of landscapers working in California? How many nonstandard auto drivers are there in Washington? How many accountants are there in California who need Professional Liability insurance? What about the number of new-car franchised auto dealers compared ... product by no means guarantees a profitable program. Q. What is the program's main point of differentiation? A. You need to outline how your product differs from others on the market. For example, when I was working on a purchasing group for owner-operator delivery trucks, we established that truck owners are more conscientious than non-owners when driving their vehicles, so this type of risk deserves a lower rate than that in the rating manuals. On this simple basis, the purchasing group had successful underwriting results. What sets your niche ... tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back If The Niche Fits: Designing The Niche Program Questionnaire 4/30/2013 12:00:00 AM by Andrew Barile , CompleteMarkets Editor This content has not been rated yet. You've done your research and have assessed the potential of a niche insurance marketing program thoroughly. Now it's time to find a ...