Consultative Broker Briefing - Year-End Survey Results

The Consultative Broker™ Briefing
Volume VII, Number 3
A Free Publication of C.R. Ekern & Company
888.670.1177
www.crekern.com
Copyright, C. R. Ekern & Company, 2005

Consultative Brokerage
2004 Year-End Readership Survey Results

Many thanks to all of you who participated in our fourth annual Year-end Consultative Broker Briefing Survey. We are very appreciative of the time and effort you expended in order to give us your views. After all, you are the people in the trenches. As a former successful broker, I know how busy you are and how valuable your time is. Thanks again!

This year’s survey focused not just on the changing marketplace, but the business style you are adopting to attract and retain clients. We were interested to determine how you are applying the Brokerage Selection Process, Broker of Record transactions, and Total Cost of Risk (TCOR) techniques. As you know, C.R. Ekern & Company is the leading consultant to firms who are adopting these techniques.

The complete results and interpretation of the survey responses can be obtained by clicking the link below. C.R. Ekern & Company has invested a substantial amount of time in preparing this exclusive report for our readers. The report includes an in-depth analysis of your feedback, along with charts and graphs. Please remember the copyright restrictions in the event you use this material.

Here are the highlights:

Brokers expect the market to decrease at least 10% in 2005.
The number of carriers with appetites for business has increased.
The vast majority of you believe that Total Cost of Risk (TCOR) is more important than price.
Interestingly, Risk Financing (i.e. insurance costs) is still the most important component of TCOR.
The utilization of the Brokerage Selection Process and hit-ratios by Broker of Record Letter has grown dramatically over the past three years.
A battleground is shaping up in the lower middle market (under $25,000 in revenues.)

Our full report outlines these issues, discusses how these trends may affect your production efforts this year, and recommends how to position yourself to prosper in this changing marketplace. Click here for the in-depth analysis of the survey results.

Thanks again. We hope that you will find our report to be a valuable resource. Your interest and participation has provided us with the ammunition to “hit the mark” in our upcoming Consultative Broker Briefings. If you keep reading, we will keep writing!

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.