https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/164/Windows-Of-Opportunity/
... state. Regnier refers potential clients to one of these agents if the client is too far away for her office to provide adequate service. We don't have contracts with any agents, but we do have underwriting guidelines that they must follow, ' explains Regnier. Niche markets require special training, she says, so it takes about twice as long for a producer or customer service representative to become seasoned. Travel and advertising expenses are greater than they are for more conventional property and casualty lines, too. One added expense is industry conventions. Seven years ago, I had no idea what a convention expense was, ' Regnier says. Now, we attend several firemen's and EMS conventions a year. We generally take three people-myself and two other producers-and that's very expensive. But we've seen a good return ... niche markets, I might quote ten customers and get three. Now, I quote ten and get nine or ten. It's a lot more efficient. The agency, which wrote $23 million in premiums in 1991, expects $37 million this year. The agency's niche marketing program include self-insured workers' compensation for Texas school districts and other governmental bodies, and a variety of coverages for children's summer camps and plant farms. These target markets account for a significantly higher profitability ratio than the agency's regular business, Monaghan says. Expanding programs to a statewide operation also requires a great deal of homework, Monaghan adds. You need to put together a lot of information to build programs like these, ' he says. You need to look at the number of prospects that are available, do a ...
https://completemarkets.com/Article/article-post/164/Windows-Of-Opportunity/
...resentative to become 'seasoned.' Travel and advertising expenses are greater ...a carrier. Today, it insures about 60 camps in Texas, Arkansas and
Missouri
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