Why specialists’ curiosity is crucial in niche markets

When you’re dealing with niche fields, it is best to deal with those in the know.

“It’s important to work with people who deeply understand their industries,” said Alexander Blair-Johns, founder and CEO, SIGNAL Underwriting. His company specializes in healthcare and life sciences, though “we are broadening our specialization as we go,” he said.

He speaks from experience – 21 years’ worth of it, both as an underwriter and former broker.

A company may sell a product “but they may not necessarily be able to back it up with the people that really understand it,” Blair-Johns said. In his industry, “you need people that can actually support the product and provide that knowledge and service to the brokers.”

That knowledge comes from experience. “There’s no real substitute for just doing it every day and paying attention,” he said. For example, looking to the U.S. can serve as a bit of a crystal ball. “Changes in U.S. laws and what sparks litigation there usually foreshadows what could happen in Canada,” he said.