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Client relationships key in soft market.

Publication: Business Insurance
Publication Date: 01-AUG-08
Format: Online
Delivery: Immediate Online Access
Full Article Title: Client relationships key in soft market.(Last Word)

Article Excerpt
Byline: Darren Pierce

A soft market consequently means a highly competitive environment, price wars and slower business. But is a softening market a weakness or an untapped opportunity? What if a producer could win more business from competitors without lowering prices?

The industry is ever changing. New players such as banks and stock brokers have entered the space and new niches are being discovered. Large insurance agencies are leveraging advantages in name recognition, connections with more insurers, and offering complex insurance packages. Small agencies are competing by specializing in a product, industry or market. But is there opportunity elsewhere?

Regardless of the...

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