Niche Mastery: MUA's Success in High-Net-Worth Insurance and the Power of Specialization
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In this interview with Marike Van Niekerk, Manager at MUA Insurance, the focus was on the strategic advantages of specializing in the high-net-worth demographic.
Historically recognized for specialist motor insurance, MUA has adapted to market shifts while maintaining a niche focus. Specializing allows MUA to tailor products, ensuring client satisfaction and loyalty.
Marike highlights the benefits of niche markets, including addressing specific audience preferences and reduced competition. This approach extends to brokers, enhancing resource allocation and customer relationships. In a high-net-worth market, MUA leverages historical knowledge for accurate underwriting, demonstrating the power of specialization in building strong client relationships, fostering innovation, and thriving in competitive markets despite economic challenges.