Finding Your Niche to Sell More Commercial Insurance

Insurance is a vast field that falls into personal and commercial insurance. While you want to be able to sell every type of personal insurance - home, auto, & life - selling commercial insurance is a different story. Commercial insurance requires some insights and knowledge to be able to serve your clients. We highly recommend that you specialize in a particular industry to find a commercial insurance niche. If you already have intimate knowledge of a particular industry, this is where you need to focus your sales energy. Having experience with your niche industry will help you provide more nuanced and tailored advice to your clients.

Find Your Niche

Selling commercial insurance is about building trust and a reputation for having a deep knowledge of the niche industry you choose. You want to brand yourself as the go-to agent for all businesses in that niche sector. Targeting one industry will make you seem more legitimate, as opposed to offering everything to everyone. 

Pick a niche you’re familiar with. For example, if you have personal experience in the craft brewery business or the farm industry this is where you want to focus your energy. Your clients are looking for you to guide them, and being able to show them that you understand all the risks involved in a specific industry will make you a more desired and reliable insurance agent.

Do Your Research

Finding a commercial insurance niche is the first step in the process. You need to research the industry and understand what makes it tick even if you are familiar with it. Here’s a look at some tips that can help:

• Rely on carrier partners for training, knowledge, and expertise in a particular niche
• Look at the common and most prevalent risks in your chosen industry/business.
• Conduct in-depth research to find underinsured or uninsured risk factors that could be a liability down the line.
• Use your knowledge to earn people’s trust and showcase your understanding of their pain points.
• Develop a customer profile by looking at data from different industry sources.
• Speak with experienced insurance agents in the niche to understand the industry better.

These steps will help you find more leads, sell policies, and develop a consistent customer base. Understanding the client’s needs is a good way to maintain a positive relationship with them. That’s easier to accomplish if you have some experience in their industry.

Contact AAI to find out how we can help you start, grow, and succeed as an independent agent. We’re a network of entrepreneurs with the knowledge and the tools to help you start a business from the ground up. On top of that, we are all established in the insurance industry, making us uniquely suited to train and support independent agents who want to hit the ground running.