Stewardship Reports: If You Build It, They Will Come

To demonstrate to your clients how your firm has impacted their business, you must give them a quantifiable yardstick by which to measure your Value Proposition. This is critically important if you intend not to be judged only on your role as a “service organization.” Once you allow that to happen, you will no longer be in a unique space. After all, how do you prove a higher level of service when compared to others?

It has been close to 10 years and over 100 briefings ago, since we first spoke about Stewardship Reports.  Since that time I am glad to say that the awareness of Stewardship Reports and their importance has risen tremendously inside our business.  Stewardship Reports are a major part of the ongoing dialogue between clients and their brokerage representatives.

Yep, I am glad to say that the awareness and importance of Stewardship has risen.  Unfortunately, the quality of the reports has not!  In fact, over the past decade, most Stewardship Reports have become meaningless fluff, designed to shower clients with paper and superfluous information.

I am sorry to say that most Stewardship Reports have denigrated to claims reviews, policy analysis and timelines of activities.  While these are important activities, they should not be the key ingredients of a Stewardship Report.  If that was the case, we would call them “Activity Reports.” As most of you know, activities and results are two different kettles of fish.

So, let’s get back to the purpose of a Stewardship Report.  To demonstrate to your clients how your firm has impacted their business,  you must give them a quantifiable yardstick by which to measure your Value Proposition.  This is critically important if you intend not to be judged only on your role as a “service organization.”  Once you allow that to happen, you will no longer be in a unique space.  After all, how do you prove a higher level of service when compared to others?  Sadly it usually comes down to price.

After a decade of speaking and writing about it, we have finally taken matters into our own hands and created a unique tool that allows regional brokerage firms to demonstrate their actual Value Proposition.  We call it our Major Account Development System™.  It creates a 10-16 page client document that shows CFO’s and decision makers the actual results created inside their business. This is done through demonstrating your impact on profits, competitiveness, productivity and human capital.  In this process, insurance costs are the smallest ingredients.

The brokerage firms that are now using the Major Account Development System™ are achieving outstanding results.  Some have even had CFO’s invite them back to make boardroom presentations concerning how they have helped improve the firm’s business operations.  Now that is a beautiful place to be!

At the risk of this seeming to be a commercial, I wanted to tell you about MADs in this briefing.  We have been speaking about Stewardship Reports for a long time.  Now we have invented the ability to do one that is meaningful.  Here is what it includes:

  • A review of a client’s Total Cost of Risk, including benchmark comparisons by TCOR category and line of coverage.
  • The quantifiable impact on a client’s business risk by category.  This includes hazard, financial, operational, strategic and human capital.
  • A 10 page ValueReport™ that outlines the value and direction of your projects, along with their impact on Total Cost of Risk.
  • The creation of a PowerPoint presentation in real time.  This allows you to place the key results into a client overhead presentation for group presentations.
  • Middle market Total Cost of Risk Factors

Again, at the risk of sounding like a commercial, we needed to tell you about this.  Now that it has been developed by C. R. Ekern & Company, the game has changed.  No longer will Stewardship Reports and Value Propositions be simply conceptual in nature.  We have created the ability for regional brokerage firms to truly create and discuss their quantifiable value proposition with middle market clients.  There will be no longer the excuse for substituting price, features, timelines or claims analysis in exchange of a quantifiable impact for clients.

It has taken us over a decade to accomplish this.  The Major Account Development System™ is the creation of thousands of hours of discussion with brokers across North America.  It contains over 10,000 data points involving client data, brokerage projects and quantifiable impacts.  It is complex, but extremely easy to work with.

So, I wanted you to know about this.  Our clients are using it right now and eventually, the MAD System will become a staple in virtually all brokerages that intend to compete and retain larger middle market accounts.  As was said in that great movie Field of Dreams: “If you build it they will come.”  The MAD System™ is built; and brokerages along with their clients are coming!

- 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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