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I did not realize the limitations of a small agency and also Commercial Insurance in general when I started this process but I am quickly learning there are many businesses that I simply cannot help. The Middle Market of $50,000-$100,000 in premium up to say about $1MM is not realistic. it feels like I have to target small business owners who the majority of the time are overlooked by most bigger agencies. They don't waste the manpower to go fight over a $5,000 account.
It hit me that if I continue on with a small independent agency that I am going to have to write a lot of policies to try and hit a decent amount of premium per month. Have others come to this realization. Are you hunting in areas where the premiums are well within your range or scope of what you can offer? Some of the bigger agencies can do things that we simply can't as small timers. These bigger agencies are always recruiting...I wonder why since they have it so easy, right? Everyone of those agents must be making 6 figures
I want to specialize in Commercial over Personal Lines but I am realizing it has a lot of challenges just getting into the right market.
It hit me that if I continue on with a small independent agency that I am going to have to write a lot of policies to try and hit a decent amount of premium per month. Have others come to this realization. Are you hunting in areas where the premiums are well within your range or scope of what you can offer? Some of the bigger agencies can do things that we simply can't as small timers. These bigger agencies are always recruiting...I wonder why since they have it so easy, right? Everyone of those agents must be making 6 figures
I want to specialize in Commercial over Personal Lines but I am realizing it has a lot of challenges just getting into the right market.