Become The Broker That Roars

I wish I had a hundred dollars for every brokerage who has said this to me:  'We’re just as good as any broker. We have great resources, a smart team, and we’re really focused on our clients. It seems like we have difficulty getting and keeping the attention of the larger buyers. It has become hard to actually differentiate ourselves.’

Or, how about this one: ‘We have excellent resources in risk control and claims. They are the best. But, when we compete against others, many have similar resources... so we all look the same.’

Does that sound familiar to you? Come on now, be honest.

Here is your solution . . . Become the Broker That Roars!

First let’s agree on one thing. Your firm is just as capable as any other broker, and in many cases better. You have all the resources, brokerage skills, marketplace leverage and expertise required to do a better job for your clients. At the end of the day, if the prospect or client understands this, you are the obvious choice because of your ability to act nimbly on their behalf.

But, here’s your problem… you can’t prove that, so your voice is being lost in the noise of other firms who sound like you!

I hate to tell you this, but just having solid resources doesn’t make you the best . . . it’s what you do with them that matters. That along with the ability to actually prove your results!

So, here is how you become the Broker that Roars...  

  • You show your prospects and biggest clients what the analytic results of your firm have been (or will be.)

  • You take away the resource ‘feature’ language and replace it with your quantifiable impact.  

  • You redesign your large account strategy around the proven and known results of your organization.

  • You take it to the competition and make THEM prove what they have done.

  • You seize the initiative by forcing them into a position where they just can’t compete.

  • You make it ‘put up or shut up’ time for them.

Of course, some of you may be thinking, ‘This all sounds great, but we just can’t achieve all that.’ Well, you might be thinking it, but remember one thing... This is not 1975. You DO actually have the ability to do this if you understand Analytic Brokerage™ and work with TCORCalc® as your source for Analytics and Client results.

If you chose not to, that is your concern. But, know this, you will chose to continue to fight the same way that you have for the past 30 years. How is that working for you now with the latest C-Suite expectations around metrics and results?

So, it is time for you to stand up on your two hind legs and ROAR! You have the ability to do it. You have made the investment in resources, expertise and have a stellar reputation.  Your firm is one of the top brokerages in your region. Now you just need the skills of Analytic Brokerage™ powered by TCORCalc® to amplify your voice!

Go get ‘em Tigers.

Best Regards to Analytic Brokers™

Rob Ekern, CAB (Certified Analytic Broker™)
Chairman, TCORCalc®

Straight Talk to Brokers

It’s time for some straight talk, OK? Many of you have been reading the Consultative Broker™ Briefing for years (now the Analytic Broker™ Briefing.) So, I hope by now you know that we are one of the few voices in the brokerage industry that has consistently provided you with meaningful information on larger account production.

Ready for some straight talk? OK, here it comes.

Those of you who intend to be in the middle and upper/middle market business better hop to it! You need to change your entire perspective and do it quickly. The world of outcomes and analytics are here to stay, and most of you don’t know yours. If you did, you would be hitting the ball over the fence right now.

Virtually every middle market broker can’t answer these important questions from a client: ‘How have you impacted our financial outcome over the past several years?’ Or, ‘What will your impact be on our firm if we appoint you as our broker?’

Some of you are saying, ‘Of course we can answer that question!’ Then you provide a litany of information that all revolves around loss ratios, coverages, carriers and terms. With a bit of ‘Value Added’ services thrown in for good measure. You and every other insurance broker within a 100 mile radius. Oh, come on!

Now look... I’m being hard on you for a reason. If you don’t wake up and smell the coffee, your time will have come and gone. Take it from a grizzled veteran of the insurance brokerage world. Your top clients and prospects are not going to allow you to continue to operate like it’s 1975.

So, I want you to think about this: Let’s say you’re sitting in your office and the phone rings from your largest client. Here’s what she says:

‘We have a new CFO and he would like you to demonstrate the financial impact you have made on our firm over the past 3 years. Please don’t make your presentation based on the marketplace or risk management strategies because he‘s interested in results.’

Here is what the CFO actually wants to know... ‘How has your representation impacted our firm in the following ways?

  • What was the impact on our profit?

  • How have you helped us reduce and recapture our Financial Leakage?

  • How have you added to our shareholder wealth?

  • What are your firm’s results with other clients like us?

If you can’t answer those questions, you’re doomed. Why? Because that same CFO is able to turn to his analytic dashboard and find a big hole in it. The hole is the information that you have not provided him. As a result, you have a client who feels under-served.  That is trouble for you!

How did this happen? Because, you did not make the effort to learn and grow in the business you are now in... Providing clients with a financial impact that is superior to your competitor’s. Period. If you can’t demonstrate your true impact, then as Dr. Deming says, ‘you are just another person with an opinion.’

Now, I know it’s not really your fault. Until recently, the technology and analytics simply did not exist for you to be able to consistently quantify your client impact and track record, and then demonstrate that to your largest prospects and clients in a meaningful way. Fortunately for you, times have changed.

You might have had the opportunity to do all the things that the ‘New CFO’ was asking for, you just didn’t have theability to do them. You didn’t have a way to get there . . . unless you were an Analytic Broker with TCORCalc®.

So, wake up. Smell the coffee. Those of you who keep up with your clients’ and prospects’ demands for knowing ‘what you are worth’ will prosper. This is selling to the highest degree.

Isn’t that what you have been trying to do for years?

Click here to watch a quick introductory video entitled 'Welcome to Analytic Brokerage™' and you're on your way. 

Best Regards to Analytic Brokers™

Rob Ekern, CAB (Certified Analytic Broker™)
Chairman, TCORCalc®

Protect Your Market Share - Big Data and Analytics

You have been hearing for some time about BIG Data and its coming importance. You have been looking for credible Analytics that can differentiate your organization.  You have decided to move into the world of analytics, metrics and client results.

We have moved these concepts and questions into reality with certified broker results.

Fact: Big Data analytics have become a top priority at companies nationwide. According to a recent survey by Accenture and GE84 percent of the surveyed companies agreed that the use of Big Data analytics “has the power to shift the competitive landscape for my industry” within the next year1.

Fact: In a recent survey of Risk Buyers by PWC74% of survey participants are looking to brokers for analytics to help inform their decision-making2.

Fact: When asked about their Top 3 Fears if they were unable to implement their Big Data Strategy1:

  • 66% of companies said, ‘Our competitor(s) will gain market share at our expense’

  • 45% said, ‘We will not be able to recover and “catch up” if we delay’

  • 48% said, ‘We will start to lose qualified talent to competitors’

Fact: Organizations across the board are implementing programs and seeking solutions to maintain their competitive advantage and improve their financial metrics.

Fact: In the Insurance Industry, the Analytic BrokerTM and the firms that can deliver quantifiable Value ReportsTM and Value ProposalsTM to sophisticated upper middle market prospects and clients will survive and thrive. The others will be left behind.

Question: Can your firm deliver meaningful reports and presentations that speak the language of the Big Data age (EBITDA, Profits, ROI, Metrics, etc.?)

Question: Can your firm consistently calculate and articulate the client’s Financial Leakage due to Indirect Loss Costs, andquantify the value of the resources your firm has provided?

Question: Can your firm calculate your large account Premium Performance Metrics (PPM’s) to demonstrate to a prospect how you would impact their Total Cost of Risk and improve their business outcome?

Question: Are your firm’s capabilities and vision positioned to capitalize on the Big Data and Analytics revolution?

Do You Want The Solution? We Have It.

Fact: Our Clients can do all of the above, and more.

Fact: Our Clients control over $2 Billion in annual revenues and are gaining tremendous Market Share using the Broker Performance AnalyticsTM of our Major Account Development SystemTM and our Consultative BrokerageTM platform.

Fact: There is NOTHING else like this in existence.

The race is on. Your largest clients and prospects are embracing and implementing the realities of the age of Big Data and Analytics. What about you? You can delay. You can attempt to fumble through incomplete systems and methods. You can try to build your own solution. You can lose your competitive advantage. Or you can capitalize now on this new reality and tremendous opportunity.

To stay ahead of the curve and gain market share, join the growing ranks of Certified Analytic Brokers who are changing the landscape of the Insurance Brokerage Industry.

At the Intersection of Big Data and the Insurance Industry, you will find the Analytic Broker and Broker Performance Metrics. Click here to Learn More Now.

All the best to Analytic Brokers,

Rob Ekern
President/CEO
C.R. Ekern & Company 

 

1 Source: 2014 Accenture and GE study: How the Industrial Internet is Changing the Competitive Landscape of Industries.

2 Source: 2014 PWC Report: Broking 2020: Leading from the front in a new era of risk
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