Reportage - Setting up a scheme: A scheming mind
Louise Meeson uncovers what a successful scheme looks like and offers practical advice on how brokers can identify and run one - should they find an existing niche or create one, how do they sell it to the insurer and is it possible to win schemes from other brokers?
Specialist insurance schemes exist for a whole spectrum of risks ranging from caravans to jet skis and for careers from tradesmen to footballers. But how can brokers identify new opportunities in what is already a very crowded marketplace? Is it best to target an existing, tried and tested niche or try to forge your own path and create a new one and once you have an idea how do you turn your dream into reality by securing the necessary insurer backing?
It is easier to break into a niche sector
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