I am a commercial insurance producer. What are the most profitable industries to go after?

Question : I am a commercial insurance producer. What are the most profitable industries to go after?
I just got started in commercial insurance, property & casualty, risk management, workers comp, etc. I have been told I need to find a niche to specialize in and go after it. My goal obviously is to find a market that will compensate extremely well. Thanks
commercial insurance

Best answer:

Answer by De
hotels….

This entry was posted by admin on September 3, 2010 at 2:53 am, and is filed under Insurance. Follow any responses to this post through RSS 2.0.You can leave a response or trackback from your own site.

Comments (5)
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#1 written by DFK 1 year ago

Congrats! on being one of us!

Commercial insurance is where the commissions are at.
Depends on the Niche accounts you are going after.

If I were you I would go after High volume property accounts like Condo associations/Apartment associations and real estate Developers. These are put on BOP’s or packages and pay up to 20% commission.

Another choice is excavators/Graders. Join the local earth movers association. The larger contractors have large liability and Contractors equipment rates.

Also…with these contractors who do road work the most likely will need contract Bonds. These beauties pay out 30 % comm on the most part.

Get a program with one of your insurance markets that has an edge on the competition and pick up that phone!

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#2 written by hall_ra 1 year ago

I’d suggest aim for wallet share. That is have a portfolio of products that can be cross-sold to the same client, and which add value to them. For example, if you insure the client’s employer’s liability, considering offering product liability. Perhaps fleet insurance.

And remember the add-on services, such as fleet management, health and safety training etc, etc, etc.

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#3 written by mbrcatz17 1 year ago

Commissions are all about the same, except for workers comp which stinks for the work you have to put into it.

The big key is, finding a niche where you ALSO have a market happy to write it. Many carriers won’t touch a hotel/motel. Many won’t do gas stations. Pizza shops are too small, manufacturers can be high hazard. Printers are high fire hazard. Governmental entities are hard to place, and there’s extreme competition, plus they get shopped out every year.

It’s hard for someone ELSE to suggest a niche market that you can work in. What has worked for ME, is the video/televison production area. LOL DON’T ask me to share my markets with you!! You’ll have to dig up your own, and build your OWN relationships with the underwriters.

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#4 written by van_at_lincoln 1 year ago

Motor Truck Cargo Insurance. Ever notice all those trucks on the road? They need insurance.

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#5 written by youngdragonrider 1 year ago

the Gaming biz is boosting. there is a rumor apple is joining the big leagues with nintendo,Microsoft, and sony. you might find something there.

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