When trying to find your niche in the world of insurance sales, there are several markets from which you can choose. With the many responsibilities and innate risks in working in the finance industry, providing insurance for these institutions can be a profitable venture. Work can be plentiful when tapping into the world of finance and insurance brokers are likely to benefit from having a varied portfolio that can offer many options to these types of businesses.
Types of Financial Institutions
As an expert in this field, you can choose to focus solely on one type or cater to several different clients within the industry. Potential clients can come from the following specialties:
- Building societies
- Finance Professionals
- Asset Management Professionals
- Stock Brokers
- Credit Unions and Banks
The type of coverage you provide these companies is invaluable. Your packages may include safeguards against the following types of events:
- Crime including employee dishonesty
- Cyber attacks
- Liability for employment practices, D&O and E&O
- Workers compensation
- Interruption of business
- Commercial property damage
Catering to the coverage needs of financial institutions requires an exceptional level of expertise in order to be intuitive of the potential needs of your clients. While it may require you to invest time in learning the specifics of finance and insurance, brokers can be helpful in recommending the best products for agents to offer to clients and lead them in the right direction to be successful.