Industry Magazine Grand General Agency Fall 2016 | Page 30

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rather work with one person for
all of their insurance needs. You
can be that person.
Many agents avoid working with
these customers or do not know
how to do it correctly. With a little
effort, you can become a much
sought-after advisor and...
High-net-worth people tend to
associate with other high-networth people, potentially leading
to even more business in this
market.
High-net-worth clients are far
more likely to purchase ancillary
coverage, such as kidnap/ransom,
collector vehicle, or personal
special event liability.
Packaged accounts generate
greater agent loyalty.

Going Forward
If you are an agent that has attempted
to break into the high-net-worth market
and have found little or no success, or if
you are an agent considering the highnet-worth market, take advantage of the

resources provided by your wholesaler
and carrier. The first step in your mission
to break into the high-net-worth market
is to understand the everyday risks to
which your prospects and clients are
exposed and to develop solutions for
them that are based on value.
Make a significant effort to associate
with other agents serving this unique
market and develop relationships with
other people, such as financial planners
and attorneys, that serve this market as
well. If you want to meet people who buy
expensive yachts, make friends with a
yacht broker. If you want to meet people
who travel the world, make friends with a
travel agent. If you’re planning to become
a trusted advisor to high-net-worth
people, learn about their everyday risks
and provide a solution that meets their
needs. You will soon see that serving the
affluent market isn’t as daunting as it
once seemed. And if you have questions,
call a qualified wholesaler such as Grand
General Agency.

www.thehelpfulpeople.com/high-value-homeowner
FALL 2016

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