Top 5 Ways to Compete with the Big Insurers

Top 5 ways your small insurance company can compete with large companies

In today’s insurance market with over saturation, high interest rates and over sized generic carriers it can be hard, as a smaller insurer, to stand out in the crowd. In order to compete it is important to stand out. So here are the top 5 ways to standout in the crowd.

Find your Niche

First it is important to find your niche market. No matter the products you offer your clients it is important to know who you are and who you are marketing to. Not only is knowing your niche important for marketing yourselves to the insurance community it is also vital in finding your ideal client. Many carriers try to target all markets rather than a niche. Targeting as many people as possible sounds like a good idea but in order to find valued clients who will turn into long term clients the further down you can narrow your product marketing the better.

Stay up to Date on Technology

Technology is ever changing and has become one of the greatest advantages in the insurance industry. There are some really simple tips and tricks you can do to put your insurance company on the map. One is having an up to date website. Most people receive their information from online searches. When someone is searching for mutual insurance options, having an up to date and professional website can go a long way. Another simple way to be professional and easily reach clientele is by having an up to date social media page. Social media is an amazing tool that adds a personal touch to your insurance company.

Find a Trusted Professional for Successful Tips

One of the best ways to compete is knowledge. No matter the resources, your knowledge and expertise can be a great advantage. By finding a trusted partner who can help teach and grow your company. Mutual Underwriters has the expertise and knowledge needed to help your company grow.

Build out your Marketing Plan

Marketing is vital to the growth of your operations. One of the best ways to grow your mutual and compete with larger companies in the insurance sphere is by having a marketing plan and goals. When you have marketing benchmarks you can then create a month to month plan to achieve those goals. Sometimes it can be overwhelming as a smaller company to put together a large and complete marketing plan. Mutual Underwriters offers consultative marketing options to help you market your company and compete with the large firms.

Deliver Excellent Customer Service

Last but not least you need excellent customer service. Customer service is the cornerstone to any business. When you build strong relationships with current and future clients who want to build a solid relationship. By having excellent customer service you are more likely to retain a client no matter the current high interest insurance market. Having strong relationships with your clientele and setting up a customer service profile for all employees can ensure your company is well represented.

About Mutual Underwriters

Mutual Underwriters is an insurance administrative services and managing general agency headquartered in Carmel, Indiana.  The company mission is to provide management expertise, product development, underwriting expertise, and strategic advice to small insurance companies, Mid-size insurance carriers, MGAs, and Program administrators.  Our objective is to help these organizations modernize and thrive.


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