I have been reading your forum for a while, and it seems like a great resource for Producers. A bit about me... I'm the Head of Technology for a major Carrier (top 5 in the world), thinking about venturing into the world of starting an agency. I make a pretty good income ($200kish), but I've never wanted to spend my entire life in Corporate America and the Politics is wearing on me. I've been in the Insurance Industry for about 10 years, and have done a lot of work with Property and Casualty Insurance (particularly in Underwriting and Actuarial). I recently finished my CPCU, and am a licensed Producer in with licenses in P&C, Life, Health, and Surplus in my state.
Over the past 5 years, I had the fortune in my career of writing software that helps the Company evaluate Cyber Risk. I've reviewed hundreds of Cyber Policies, and came away with the thought that upwards of 90% of them have inappropriate/inadequate coverage. To be able to sell this stuff correctly.. I think a technical background would be very helpful. I would like to start a Niche Insurance Agency focused on selling Cyber Insurance and also providing Cyber Security Services to Companies. As I said above, I make a pretty good income. Any thoughts first of all on the Cyber Insurance Market.. and any ideas of how I enter the field without quitting my day job. I should mention that at my level I have plenty of availability to work on my own projects.
I looked at some aggregators that will allow me to sell and own my book and not force me to meet any production goals. Is this the way to go ? Any other thoughts on how I can get started here. What is an imperative for me is that I want to own my own book and not be subject to Production Quotas. Is there anything else I should be worried about ?
Thank!
M
Over the past 5 years, I had the fortune in my career of writing software that helps the Company evaluate Cyber Risk. I've reviewed hundreds of Cyber Policies, and came away with the thought that upwards of 90% of them have inappropriate/inadequate coverage. To be able to sell this stuff correctly.. I think a technical background would be very helpful. I would like to start a Niche Insurance Agency focused on selling Cyber Insurance and also providing Cyber Security Services to Companies. As I said above, I make a pretty good income. Any thoughts first of all on the Cyber Insurance Market.. and any ideas of how I enter the field without quitting my day job. I should mention that at my level I have plenty of availability to work on my own projects.
I looked at some aggregators that will allow me to sell and own my book and not force me to meet any production goals. Is this the way to go ? Any other thoughts on how I can get started here. What is an imperative for me is that I want to own my own book and not be subject to Production Quotas. Is there anything else I should be worried about ?
Thank!
M