New government incentives to spur global growth of small to midsized U.S.-based businesses, coupled with the international reach of the Internet, means even the mom-and-pop candy store down the street could go global—by buying or selling their wares overseas, or at the very least, importing raw material or ingredients in bulk from another country.
And independent agents are perfectly positioned to get into the international market, using their own clients as a springboard, as long as they can shift their thinking from the “menu card of products and services” mindset to one centering on individual client needs.
To help you get started, the editors at American Agent & Broker magazine have assembled the following guide to address many of the issues that might arise. We provide you with an overview of the multinational market, how to work with foreign clients, potential pitfalls, and wrap it up with one agent's story of success.
We hope you find the information educational and practical.
Multinational: A Booming Market
No longer the exclusive realm of GM, Exxon or McDonald’s, the foreign market is beckoning businesses of all sizes—from accountants and lawyers to small manufacturers, non-profits and other businesses. In other words, the core clientele of independent agents and brokers....
How Agents Can Work With Multinational Clients
How can independent agents and brokers tap into the multinational market? There are several ways, particularly through broker networks....
Potential Pitfalls of Multinational Marketing
Market access, conflicting regulations and cultural miscommunications are among the problems facing independent agents and brokers getting into multinational markets....
Going Global: One Broker’s Story
Working with carriers is one of the most common ways for agents and brokers to reach out to the global marketplace. A perfect example is the story of how Capacity Coverage Co. of New Jersey, Inc. worked with Chubb to develop a relationship in China and ultimately established a division based on....
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