When a carrier enters into a new state or region, we are interested in identifying the current competitors, and learning how long have they been in the market, how strong their position is, how loyal the agents are to the current insurance companies, what a new agency would need to offer to outbid the current companies, the number one or two agency in the top agencies, the key trade associations that are critical to success in these new areas, the key players and influencers in this industry in the new state or region, etc.

Product Intelligence

If an agency wants to offer new products, the key questions are:
 
1. Who are already the leaders in this product line?
2. Why are they the leaders?
3. What are their competitive strengths and weaknesses?
4. Is the market saturated?
5. What does an agency need to offer to have its product be a success (additional features, different deductibles, etc.)?
6. What are the incentives that the agency needs to offer its agents that will be most effective in having them switch their loyalty and sell the new product from the new agency rather than from its usual insurance agency?
7. How do the incentives need to be structured for the long and short-term goals?