How do you define "markets"?

  • Posts: 2
    Posted on 02/11/2007
    Moultrip
    Dear NewMarkets,

    I am a broker. I represent many clients in a variety of industries. I am always looking for new "markets" which I may use or approach for quotations for various types of risks.

    I define "markets" as actual insurers (or MGAs or wholesalers) that can provide specific solutions to the actual risks of my clients for me (as the broker) to present to them.

    However, when I conduct a market search on your site, the bulk of responses are other agencies or brokers (just like me), many of whom are competitors of mine, or that cater to specialized industries. To me, these are not true "markets" for the needs of my clients.

    While your site is an excellent resource for insureds & clients to access directly, it appears that (as a broker) I misunderstood the intent of your site when you refer to "market" searches. I thought it was a resource for brokers to identify potential sources for insurance company paper to insure the risks of clients.

    I'd like to see you add a section where brokers can search for TRUE markets (insurers) that have appetites for specific risks.

    If I have misunderstood, please forgive me. Hope this is helpful.
  • Chairman
    Posts: 7
    Posted on 02/12/2007
    Mark Wells
    I'm confused. You should get only responses from carriers or wholesale brokers, not other retailers. Unless, the retailer is sharing information they may have on a particular market that would help you out.
    What coverage or class did you search for?

    MyNewMarkets.com administrator
    Mark
  • Posts: 2
    Posted on 02/15/2007
    Moultrip
    Thanks for your response. For instance, I was looking for insurance companies that write animal mortality (specifically for swine and poultry). When I did that search, I got back a large volume of insurance agencies (retailers) specializing in horses.
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