For brokers to succeed in the manufacturer’s insurance market, education is key. The top two barriers to writing for manufacturing clients are complexity of risk and the highly competitive market, according to the Unica 2020 Insights Report.
“If something is complex, you don’t expect it to be competitive, but, historically, manufacturing insurance has been profitable for insurance companies,” said Dave Smiley (pictured), chief operating officer at Unica Insurance. “It’s also competitive because it requires specialized expertise to be able to underwrite it, and with that expertise comes appetite.”
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