Consultative Broker Briefing - Don't Play Short-handed!

The Consultative Broker™ Briefing
Volume VIII, Number 10
A Free Publication of C.R. Ekern & Company
888.670.1177
www.crekern.com
Copyright, C. R. Ekern & Company, 2006

Don't Play Short-handed!

Winter can be a fun time of the year. It brings back memories of growing up in North Dakota. We always knew winter was upon us when the “boards” went up in the school-yard. “What boards”, you say? Why, hockey boards of course. They would be erected in late October and sat in silence waiting for that first hard freeze. Oh, what a glorious day it was when the fire department finally opened the hoses and flooded the rink!

Those of you that understand hockey know that there is one thing you really must avoid in order to win. You never play short-handed! Short-handing occurs when your team has one or two fewer players on the rink than the other team. It happens when your team has a penalty and you lose a player.

Playing short-handed reminds me of what happens when an agency/brokerage neglects to use all of its resource capabilities in the retention of accounts. They scurry around the rink, always trying to catch the puck, while the other team methodically executes its passes, always looking for the hole in the defense. Eventually, the short-handed team gives up the goal out of sheer exhaustion.

Don’t let this happen to you!

So, here are some thoughts on how successful Consultative Brokers make certain they are not caught short-handed.

They understand that many brokers can provide simply the insurance. Therefore, when analyzing an opportunity they look for ways to deploy their specific resource capabilities. These resources fill the holes that other brokers don’t even see.
They never try to do the deal without involving their resource team early in the process. They consider the input of the resources (claims, loss control, specialty resources and industry specific) before moving onto the attack.
They know that their resource capabilities are what provide them a strong and consistent value proposition. The other broker cannot defend their net against this pressure.
Once they embark upon a value and resource based strategy, they stay the course. They realize that sometimes it is a seven game series and they are content to lay in wait, while the other broker tires themselves out chasing the puck of price and commodity.
They always “protect” the puck when it is in their own zone. This is done by constantly providing their clients with resource and cost reduction services. They make certain the puck doesn’t change hands, through the application of stewardship reports.

Consultative Brokers are consistent “three star” scorers in our business. They fully understand how to attack their competition on the fly. They pepper the net with resources, value, and a team who understands how to keep the pressure on. These are the firms who year in and year out win the “Stanley Cup” of client value.

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.