Large Accounts: The Keys to Your Success

We have transitioned through both the soft and hard markets, seen a number of name brand carriers disappear, and experienced the expectations of our clients shift dramatically. All of this inside a business climate that went from boom to bust.I did not say that it is an unprofitable business or that it will not be financially rewarding in the future. That will come to those of you who understand how to create a value proposition that helps your clients improve their profits, competitiveness, human capital, and productivity (Business Risk).

It has been 15 years since we started C. R. Ekern and Company and coined the term Consultative Brokerage™.  I am personally very gratified for the friendship and reinforcement that many of you have provided us over the years.

Of course, since our inception the agency/brokerage business has changed dramatically.  We have transitioned through both the soft and hard markets, seen a number of name brand carriers disappear, and experienced the expectations of our clients shift dramatically.  All of this inside a business climate that went from boom to bust.

Here is the deal, and I know it will upset some of you: the property casualty insurance industry as we have known it, is a shrinking business.  Don’t believe me?  You can form your own opinions from the results of the past 40 years.  I know, I have been there for virtually all of it.


I did not say that it is an unprofitable business or that it will not be financially rewarding in the future.  That will come to those of you who understand how to create a value proposition that helps your clients improve their profits, competitiveness, human capital, and productivity (Business Risk).  Without that, you are simply in the insurance distribution business  . . . a constricting business model.

Oh don’t get me wrong.  There will continue to be blips of hard market pockets as your suppliers continue to put them and you out of business.  It will be possible for some of you to hang on from cycle to cycle.  But, remember the cycles will come further apart and they will return more quickly to a lower rate.  During the 37 years of my brokerage career, we have spent 81% of the time in a “soft market” environment. 

So, in my humble opinion, it is critical that you continue to grow your larger accounts.  These are what provide you with the highest level of profitability. If you are going to survive in this business, you will need to understand Business Risk and how to create a real Value Proposition.  That is what will give you traction for decades to come, not simply a few years.

So, it is time for you and your firm to get serious about creating a value proposition that is real.  Not just wrapped around the product.  Many of you are capable of it and must drop everything and make this your single most important task for the coming 24 months.

- Rob Ekern

For more information on how to quantify TCOR, manage projects, build a value proposition, and consistently deliver stewardship reports and new business presentations to your customers, check out the Major Account Development System (MADS), an on-line consultative broker's toolkit. Available now!

Ready to learn more about Consultative Brokerage Sales Training? Visit the Consultative Brokerage Academy.

To learn more about C.R. Ekern & Company, please visit our website

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