Overheard at a brokerage recently: “We can’t seem to hire the ‘right’ producers.” A similar comment from another principal: “When we bring new people on, they don’t ‘get it.’”
We hear these refrains from brokerage owners and managers on a pretty regular basis. It’s a reality summed up in the old truism: “good people are hard to find.” Or are they? You really have to ask: exactly what aren’t these new hires 'getting’?
A mid-size brokerage had a longstanding commercial policy with an office maintenance and clean-up firm. The account was coming up for renewal just as the senior producer who handled the account was on a two-week vacation. The maintenance company informed a junior account manager, who was covering for the producer, that it was expanding its business into industrial cleaning, including some chemical and oil spill remediation.Read More
Imagine your management team is in a meeting room with a huge white board. The question of the day is simple: How does your brokerage define success in commercial lines? Write it down.
The quick responses come easy. Profitable growth. High retention. Client satisfaction. Efficient operation. Trusted employees. Access to valued markets. Solid reputation. Visible brand. These are the business outcomes that will help you grow and become successful. The challenge is, how do you turn desired business outcomes into actual success?Read More
Have any of these situations happened to you recently:
- an experienced CSR quits abruptly and leaves a large share of commercial clients temporarily “orphaned";
- your account manager needs to process a renewal for a client but can't find the Word document on your server, or;
- a producer loses a key account at renewal due to an aggressive price/coverage bid from a competitor.
One of the most common reasons brokers turn to an automated solution for commercial lines is because a staff member, typically one with the most experience in commercial, is leaving. Many brokers don’t think about the state of their brokerage's commercial book until a key staff member gives notice, and at that point it's often too late.Read More
Last June, Kevin Campbell, president and founder of Policy Works, passed the reins of management over to John Eastly. Kevin has been increasingly active in a number of other ventures, so he asked vice president and co-founder John Eastly to take on the role of president and the responsibility for the operations of the company. Kevin will remain involved in the company, as CEO, working toward their vision for the future of commercial lines in Canada. We caught up with John recently, to find out more about this transition.Read More
Tom Hickey, President of Wedgwood Insurance, is growing the St. John's, NL, based brokerage from the inside-out. For two years in a row, Wedgwood has received the "Best Places to Work in Atlantic Canada" award. Tom shares with us what he's learned about culture, growth, and success.Read More