The Consultative Broker™ Briefing
Volume VI, Number 5
A Free Publication of C.R. Ekern & Company
888.670.1177
www.crekern.com
Copyright, C. R. Ekern & Company, 2007

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Five Reasons You Should be Appointed as Their Broker

I recently received a great testimonial concerning Consultative Brokerage.  A client wrote, “One of our producers came back to town as a Consultative Broker and had an appointment last week with a large contractor.  He made his presentation and was appointed as the broker on a BOR (Broker of Record) then and there!”

We are gratified that we are hearing these success stories on a regular basis from C.R. Ekern & Company clients.  Why?  Because they are learning that the old methodology of “marketplace selection” just doesn’t work (or pay) very well any more.  Of course it is easy to say that your firm just doesn’t quote anymore.  But, if that is the case, how do you attract new clients?

Here are five reasons why a buyer should appoint your organization as their broker.  As a skilled professional you need to become proficient in all these areas.  The producers and organizations that master these five concepts will continue to prosper during the coming years.

We are a resource driven organization.  You firm must become skilled in the deployment of specialized resources that help clients reduce their Total Cost of Risk (TCOR.)  These resources are pre- and post-loss specific.  You must understand how to introduce them in a fashion that is consistent with your goals of client cost reduction.

We have a “Value Proposition” unlike our competition.  Your Value Proposition is the difference between the price of insurance and the ultimate reduced client costs.  This Value Proposition becomes your theme throughout the course of the sales and client service process.

We can demonstrate our impact on your balance sheet.  Through the principles of TCOR, your organization is able to prove its Value Proposition.  This provides prospective clients with undisputable evidence and yardsticks to your value.

We provide ways to improve your business effectiveness.  A good producer is a businessperson first and a broker second.  You must always be looking for ways to bring concepts and ideas that will help clients run their business more effectively.

We understand the entire risk-financing marketplace.  In today’s marketplace there are a number of options outside of the traditional carrier products.  Of course it is important to have a good handle on what the traditional carriers are doing.  However, this is just one piece of the overall pie.  As they represent 40% of the entire casualty market, you should also have a working knowledge of the self-insured, captive, and alternative risk financing options.

The Consultative Brokers that focus on these five reasons for appointment will not be drug though the upheavals of the insurance marketplace.  They have an attitude that says, “Our clients choose us because of our unique value.  Oh, and by the way, we provide insurance too!”

Best regards to all Consultative Brokers,

Rob Ekern
President
C.R. Ekern & Company

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Consultative Brokerage® Techniques are utilized by agents and brokers across North America in the development and retention of upper middle market revenues.  The Consultative Broker Briefing is delivered electronically free of charge to selected agents, brokers, and other insurance professionals across North America.  To subscribe to The Consultative Broker Briefing, please click here.

Copyright 2007 C.R. Ekern & Company