Are you unsure as to what kind of broker you are, or wish to be? Do you have a vague understanding of where your interests lie, and wish to reorient yourself and/or your business towards them? Are you interested to learn the various benefits and potential pitfalls of being a generalist or a specialist broker? In this episode, we’re thrilled to be speaking with Chris Withers, the Broker Distribution Director for Ecclesiastical Insurance, about the firm’s recent research into broker specialism and generalism. The recently published whitepaper identifies four key broker personas, distinguished by their inclination towards specialist or generalist tendencies. In conversation with Boston Tullis’ Sarah Myerscough, Chris explains the findings of the study and identifies the advantages and pitfalls of each broker persona type, culminating in a fascinating discussion about how the broking market will evolve in years to come.   Quote of the Episode ‘The future’s bright if you’re a specialist.’ This notion concludes Ecclesiastical’s research report, composed after the initial survey and a series of roundtable discussions featuring brokers across the generalist-specialist spectrum. This suggests that there is a significant benefit to the particular market knowledge which specialism entails, and that this will prove increasingly fruitful as the market develops over the next few years. That being said, the very nature of specialism and generalism appears to be evolving. As Chris notes in the episode, broker consolidation is a rapidly growing part of the industry. Specialist brokers who have a particular niche within the market may soon find themselves as part of a major distributor, who may present themselves as a generalist provider with pockets of specialism. Thus, generalism is by no means a drawback, but incorporating elements of specialism into your firm, or developing a few particular niches as an individual broker may ultimately prove advantageous.   Key Takeaways Chris Withers outlines the following broker persona types throughout the episode: The Pure Specialist This type of broker prioritises the industry they specialise in above the provision of insurance solutions. They typically worked in that particular sector first, and then began to work in specialist insurance. As such, they are equipped with detailed market knowledge, and are often conducting their own market scanning. They will typically have an understanding of the challenges they may face when presented with various clients’ risks, facilitating trust between themselves and the client/insurer, and leading to smooth communication between all parties. The Intentional Hybrid This approach is typically more identifiable in broking firms than individuals. They thrive on adaptability; if they see an opportunity to specialise in a particular area in the market, they will do so. While the Pure Specialist has an understanding of and interest in the market before the risk is presented, the Intentional Hybrid will use the specialist capabilities of the insurer to back up their own developing specialism(s). This persona type creates a multiplicity of options for growth and expansion, but can this principle necessarily be upscaled? Can such a firm survive in competition with others who can provide solutions without as much handholding from the insurer? The Connected General Practitioner This broker type operates in a similar fashion to a medical GP. They are highly connected with specialist insurers, whom they will contact after assessing a client’s risk. They don’t necessarily try to build the capability for specialism within their own business, acting as a mediator to specialist insurers while retaining a more generalist approach themselves. They see broking itself as their specialism rather than the client’s needs. The Organic Generalist This broker type is deeply concerned with the scalability of specialising. The