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A thorough competitive analysis can help you determine how to position your own wholesale insurance agency to stand out from your competition — and fill a market need. (Credit: Blue Planet Studio/Stock.adobe.com) A thorough competitive analysis can help you determine how to position your own wholesale insurance agency to stand out from your competition — and fill a market need. (Credit: Blue Planet Studio/Stock.adobe.com)

Who are your competitors? How do they conduct their business, and why do people decide to work with them? How do they present themselves online and off, and how are they perceived? And perhaps most importantly — what do they offer that you don’t, and vice versa?

Strong competitive research can help you identify industry trends, understand your market and determine how your services and expertise stack up against those who work within the same specialized insurance area. With a solid understanding of your competitors, you can develop a strategy to set yourself apart in the market and help your business thrive.

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