If an agency is looking to grow in 2024, it must be focused on areas of opportunity in the commercial sector, not personal lines, according to Steve Tombarelli (pictured), SIAA’s SVP, programs and services.
“From the conversations we’ve had with our carriers, they’re still trying to get great adequacy [in personal lines] – they’re still not at a point of opening up for full growth and new business appointments,” Tombarelli said.
“Instead, one of the things agencies should be focusing on is understanding where the carriers are opening up for commercial lines, what their appetite is and what classes of business they’re looking for.”
The SVP also believes that agencies need to invest resources into niche marketing in order to attract clients looking for specialized solutions.
Read the full article featuring SIAA’s Senior Vice President, Programs & Services, Steve Tombarelli published by Insurance Business Magazine on March 5, 2024.