Consultative Broker Briefing - Consultative Brokerage 2005 Year-End Readership Survey Results

The Consultative Broker™ Briefing
Volume VIII, Number 4
A Free Publication of C.R. Ekern & Company
888.670.1177
www.crekern.com
Copyright, C. R. Ekern & Company, 2006

Consultative Brokerage 2005 Year-End Readership
Survey Results

Thanks to all of you that participated in our fifth annual Year-end Consultative Broker Briefing Survey. We really appreciate you taking the time to share with us your thoughts. Each year, we spend the time to analyze the results and utilize them in telling your story throughout the industry. Frankly, your honesty and willingness to participate helps us in keeping the issues that are important to you on the forefront of our Consultative Brokerage development.

In keeping with our Consultative Brokerage focus, this year we have continued to shift the focus of our findings away from the marketplace and on to the production methodologies you find effective. While the marketplace intelligence is very useful; frankly, the conditions are the same for everyone. So, we were really interested in knowing how a successful broker is combating these eroding conditions and creating client value.

The complete results and our comments can be found by clicking here. Please remember the copyright restrictions (give us the credit!) in the event you chose to use this material in client discussions or proposals.

Here are the Highlights:

76% of you saw a marketplace decrease in 2005
The competition among brokers escalated in 2005
The vast majority sees keeping revenues up as the most critical challenge.
The number of carriers for any given deal did not change.
The hit ratios and new business development by brokerage selection process is continuing to climb away from the marketplace selection process.
The deployment of resources is continuing to gain importance in client presentations.
The majority of brokers continue to utilize the marketplace to forestall competition.

Thanks again for your willingness to participate. You have provided us with some great insights for upcoming briefings. Personally, I can’t wait to comment further and will follow up shortly with a new briefing on the subject of marketing key accounts. As always, 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.