Targeting Non-Profits

[aeasterwood2014]

Starting in January I will start selling commercial lines. In the meantime I have to come up with what type of business I will targeting. My idea is to target Non-Profits in my area. My thinking behind this is many non-profits are ran by people who have many contacts with the community, building a relationship with a non-profit could position you as an agent a trust worth person.

I really need some feedback..have you targeted Non-profits before? What were the advantages/disadvantages? Thank you!

Also if you have any ideas for someone just starting out and which business to target that would be helpful as well!

 

[somarco]

I'm not a P&C guy but have known a few that worked with churches. As I recall, there were carriers that specialized in the "church market". Granted, NFP organizations encompass more than churches but many of them have volunteer staffing that are unique from a liability perspective.

Do you have access to carriers that write, or specialize in the NFP industry?

The other thing is, most NFP's often have contacts with people that run in the same circles and just happen to be in the insurance market.

My general feeling is there might be better niches to pursue, but I could be wrong.

 

[VolAgent]

Speaking from personal observation.

Most churches invariable use a member for their insurance. That is a relationship that will be pretty hard to break. I suspect the same for most non-profits. Unless it is very large non-profit and using a national or regional agency, they are going to be using an agent that is some how connected to the non-profit.

I would invest some time in research about this before focusing on such a niche. You might find it very difficult if not impossible to succeed in.

Also, like Bob said, there were certain carriers that really went after the church market. I recall one being GuideOne.

 

[EugeneM]

Aside from the Volunteer aspect a lot of NFP's might have dual exposures like a kindergarten, bookstores, online stores etc. NFP encompass a wide range of business from obviously churches, Gay/Lesbian Communities, Museums, Foundations, Sports Organizations.

Underwriting these can be difficult - takes time to learn the industry and establish relationships with the proper carriers. church mutual is another - a portion of it will go through the E&S market. Its definitely not preferred business.

From my observations the people that truly specialize in NFP's have been p&c brokers for some time. Not to say that you cannot do it.

You are right that they are connected in the community. I always wanted a few country clubs on the book

 

[aeasterwood2014]

Thank you both for providing those perspectives for me. I may need to consider a different niche.