"Generalist or Specialist?" - Article by J. Bruce Cochrane published in The Standard
Generalist or Specialist? Meeting Challenges and Opportunities by Determining Your Agency's Structure and Goals
by J. Bruce Cochrane – President, Renaissance Group
Reprinted by permission, The Standard, November 11, 2005
Over the past generation, a mismatch has developed between the product needs of local independent insurance agencies and the insurers that supply those products. Twenty years ago, both insurers and their agents were generalists. National insurers that were committed to writing a wide spectrum of risks dominated the ranks of insurers. Agents generally marked out a local territory in which they would try to sell to as many clients as possible. Therefore, an agent’s need for a broad spectrum of risk transfer products was matched by an insurer’s ability and desire to provide a wide spectrum of risk transfer products. [ continue reading - PDF ]