Independent retail agents and brokers commonly operate their businesses in one of two ways. They either spend a lot of time shopping different carriers in order to secure good coverage plans with low premiums for their clients, or they work with a small group of select carriers to streamline their operations while offering limited options. However, there is a way that independent agents and brokers that can offer their clients the benefits of both of the above options, and that is done by working with an insurance wholesaler.
Wholesalers are a valued part of the insurance industry. Partnering with an insurance wholesaler allows agents to offer their clients the most competitive rates and best coverage while also streamlining their operations and processing. Below are some of the biggest benefits of working with an insurance wholesaler.
Speed and Efficiency
One of the biggest benefits of insurance wholesalers is that they can help agents speed up their operations and become more efficient in servicing clients. Wholesalers are able to do all of the legwork so that agents don’t have to. They typically have better access to specific insurance markets, allowing them to quickly and easily identify and mitigate hard-to-place risks. Because of the structure and flexibility of wholesale insurance sales, wholesalers are able to go to market quicker than independent agents or brokers. They can research coverage options, give quotes and bind and underwrite policies, allowing agents to focus their time and energy solely on attracting and retaining their clients.
Wholesalers often have experience within their areas of specialty insurance, allowing them to become experts in these specific areas. Specialization is a great way for independent agents to tap into unique niche markets and stand out among their local competitors. By partnering with specialized wholesalers, they can utilize that expertise without having to invest a lot of time and money into training themselves in that area. Some wholesalers even offer resources to help agents learn more about their specialties.
Strong Carrier Partnerships
A wholesaler usually does not have direct contact with insurance customers, but instead works as an intermediary between retail agents and carriers. Retail agents depend on wholesalers for access to high-quality insurance carriers and competitive pricing – one of the main benefits that draws agents to this type of partnership. To be able to offer this, wholesalers have maintain strong relationships with carriers. This benefits the carriers as well, who also depend on wholesalers to serve as distribution channels for their products.
Formed in 2013, AmSuisse, Inc. has quickly distinguished itself as a wholesale operation that specializes in working very closely with our agents and broker partners to develop responsive, individualized service for each client. Our unparalleled writing support, industry-specific expertise, marketing support, responsive proposals and quotes, strong customer service, and strong relationships with our carrier partners have all helped us to provide the best possible coverage for our clients. To learn more about our available coverage, contact us today at (800) 485-0229 to speak with one of our representatives.