Specialization—the accumulation of a high degree of expertise in a particular area—is a fast-growing way for agents and brokers to differentiate their firms, winning and keeping clients in the interim.

That’s one of several findings in a 2013 study of insurance agencies by Reagan Consulting. According to the study, agencies that develop the skills and expertise in managing and transferring the risks that confront a particular industry, or accumulate in-depth knowledge about a specific insurance coverage like cyber risk liability, are generally sales leaders.

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