Specialism is a spectrum - but which are you?
25 October 2021
We surveyed 200 specialist brokers nationwide across key sectors. Using this data we gained deeper insight from a series of round tables involving over 30 senior executives from as many brokers nationwide. We discovered that being a specialist means different things to different brokers.
Combined, the research and the round tables deliver an exceptional view into the nature of specialism. We’ve defined four clear specialist archetypes across the operational spectrum and established the opportunities that apply to each. The question is – which one are you?
The pure specialist
- With an exclusive sector focus or insurance product type usually developed by design, this persona always sees the world through the client’s eyes, using clear positioning and innovating through technology.
The intentional hybrid
- Deliberately blends and balances specialist practice and general commercial operations to spread risk. The intentional hybrid develops partnership-led client relationships on business issues beyond just insurance.
The connected practitioner
- A commercial broker with proactive specialist downstream underwriter relationships that can be deployed for clients on-demand, to balance not only the power of value but also the utility of price.
The organic generalist
- A variant of the GP, the organic generalist has a broad general commercial focus. It provides specialist expertise to clients passively and ad hoc via established external relationships that are based on opportunity.
All four broker personas see opportunity, profitability, improved client relationships and competitive edge in developing and deploying specialist insurance capabilities.