Insurance companies must prioritize growth in order to survive in this increasingly competitive industry. But for many young or small agencies, there’s no easy path to the structures and resources required for expansion.
New business, for example, is among the most important drivers of organic growth. Agencies must devote substantial time to generating new client relationships and addressing their individual needs. But neither is possible without the abilities to recruit additional salespeople and maximize exposure to your target clientele. Significant technology investments may be necessary for serving certain accounts as well, especially when you consider the myriad innovations that currently stand to disrupt the traditional broker model.
In addition to improving sales and advertising, consolidation is likely on the horizon for any agency looking to put their stamp on the marketplace. Owners have concluded that size matters and are trying to enlarge their agencies as quickly as possible. Acquisition is becoming a highly sensible option for agencies that wish to invest in the next generation of leadership and don’t want to relinquish control by being bought out.
Fundture Capital has many years of experience providing Small Business Loans for Insurance Agenices. We can provide all types of business lending products. Contact us today for your FREE business funding consultation!
