Broker Growth StrategiesReprints
For commercial insurance brokerages, moving forward by growing revenue has become increasingly tougher as various property/casualty insurance market segments have softened, reducing producers' commissions. For at least the rest of 2015, brokers anticipate that rates will remain soft or deteriorate further as insurers attempt to deploy their abundant capital. If a broker does nothing different this year it can expect to grow at a slower rate than a year ago.
However, growing revenue is still possible if the brokerage firm uses the right growth strategy. For some, it is acquiring another brokerage, for others it is adopting an aggressive organic growth strategy. A mixed strategy is also possible.
The Broker Growth Strategies white paper examines M A and organic growth strategies — how they have evolved, what they entail and the pitfalls to avoid. See a sample.