How young agents are thriving in a challenging E&S Market
With a hardening market and fewer opportunities for face-to-face meetings, it’s not an easy climate for independent agents. But young E&S agents are showing tremendous resilience — they’re flipping challenges into opportunities. Here’s their playbook on how to stand out, deliver memorable service and enjoy selling insurance even when the going gets tough.
Resolve real problems
An important part of the job is problem solving. Young agents are taking the time to study emerging risks. They know that the better they understand the climate, the better they can anticipate what might go wrong and help business managers and owners dig into potential exposures to identify the coverage they need. Cyber insurance is one real and present risk for all businesses. Agents can use our MOUSTM online indication system to give their clients a quick quote.
Engage more often
People are particularly hungry for personal contact right now, so agents are picking up the phone, jumping on video calls, texting and engaging on social media. The result is more visibility, more referrals and better relationships with existing clients. And since 90% of clients who have had three touchpoints during the policy period will renew, young agents are locking in long-term business.
Offer risk management partnership
Independent agents are in a unique position to handle risk and uncertainty. Policyholders are looking for more customized policies and agents that do more than just sell. Advice-driven products and specialized attention are particularly important for more complex lines, like E&S. Clients appreciate the added value of knowledge and support that independent agents offer.
Young independent agents are uniquely positioned to develop strong relationships over time. They enjoy their connections with clients and also value mutually beneficial relationships with their underwriters. The MacNeill underwriting team encourages relationship building, not only as a business strengthener, but also because relationships make daily work more meaningful.
Young agents are using digital solutions more and more, as a means to enhance customer-centricity and satisfy client urgency. Agents can use quote tools, like our MOUS online system, to get immediate ideas on market availability and rough prices. The MOUS tool gives agents the visibility and agility they need to speed up response times and provide better service.
This shortlist of ways to navigate challenging marketing conditions is not just for young E&S agents — it’s for anyone in the industry who wants to take inspiration from the way young people are weathering these times with optimism.