Retail vs. Wholesale

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marty202
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Joined: Tue Jun 16, 2009 12:51 pm

Retail vs. Wholesale

Post by marty202 » Tue Jun 16, 2009 12:56 pm

What are the positives and negatives of going from the agency broker side to work for an E&S broker? I would be going from being a producer to being a broker. Any thoughts from anyone? Is is hard to break into the wholesale scene since agents have relationships built with wholesalers already? 5 years experience. Eastern US.

LadyBroker
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Location: Southern California

Re: Retail vs. Wholesale

Post by LadyBroker » Tue Jun 16, 2009 3:50 pm

I switched from retail to Wholesale, but not as a producer. I worked my way up into a broker role. Your biggest challenge is finding new clients in a soft marketplace, while learning the marketplace. The E & S side is totally different from retail.

If you would like to talk more in depth, PM me and we can talk.
"It's a typical day, on the road to Utopia.."

Prolines
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Re: Retail vs. Wholesale

Post by Prolines » Wed Jun 17, 2009 10:56 am

marty, it is tough to really answer your question without more specifics on your previous role and what you will be doing and who you will be doing it with on the wholesale side. I am biased but I think wholesaling is one of the industries best kept secrets.

marty202
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Joined: Tue Jun 16, 2009 12:51 pm

Re: Retail vs. Wholesale

Post by marty202 » Thu Jun 18, 2009 7:03 am

My career has consisted of working with new business as an account executive and now producer. I have an account manager that handles renewals and does marketing for me. Primarily the size of accounts have been small and medium sized. At the wholesale agency I would be working as a broker, but like I said, I don't know what that entails or how it would be different. Prolines, maybe you can walk me through how an "underwriter" and "broker" are different and what is it like for somebody who is new to the E&S market to break in.

marty202
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Posts: 10
Joined: Tue Jun 16, 2009 12:51 pm

Re: Retail vs. Wholesale

Post by marty202 » Wed Jul 01, 2009 12:43 pm

Ladybroker, I tried to PM you. Maybe I didn't do it correctly. Let me know - I'd like to hear your thoughts on the issue.

LadyBroker
Insurance Journal Addict
Posts: 366
Joined: Fri Oct 13, 2006 9:10 pm
Location: Southern California

Re: Retail vs. Wholesale

Post by LadyBroker » Wed Jul 01, 2009 1:23 pm

I was unable to PM you, too, it says you're not registered.

Send me a note directly to Foleyl@bgsurplus.com

Lisa A. Foley, ASLI
Broker
Bliss & Glennon, Inc.
"It's a typical day, on the road to Utopia.."

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