What do you do when a buyer says “It's all about price this year”? Prospects and clients don't want to pay too much for insurance. Neither do you. This is true whether the market is hard, soft, or anywhere in between.

Yet when the insurance market is soft and economic times are hard, independent insurance agents face intense, price-driven sales pressure. Plunging employee payrolls, reduced business revenues and shrinking property values by themselves decrease premiums. So do buyers who increase deductibles, lower limits, eliminate coverage or, worst of all, go out of business. Those customers remaining fight for survival and shop their insurance plans ruthlessly.

Soft market, tough economic times, reduced rating basis, fewer clients and cut-throat competition create a perfect storm of plummeting insurance commissions. What's an insurance professional to do when buyers insist on cheap insurance as well? The answer: Provide the best value for every insurance dollar invested in protection.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.