Insurance brokers work hard to win and retain their accounts, and so do insurers. It’s common ground shared by everyone in this industry. With a hard market upon us, the industry can become a lonely place very fast if you don’t have underwriters in your corner crunching the numbers and bending the rules to make it work.Read More
Paradigms and paradigm shifts are cyclical in nature. As soon as one paradigm shift ends or is close to ending, another paradigm surfaces and trends from there. There are always unsustainable forces that drive the paradigm. They go on long enough for people to believe that they will never end even though they obviously must end.Read More
“Making bricks without straw” is an expression that comes from The Holy Scriptures. The Israelites needed straw to make bricks. If the Israelites had very little or no straw, they still had to make bricks. If you watch the film The Ten Commandments, you know which scene I’m talking about.
If you ‘make bricks without straw,’ you try to achieve something without resources that are needed to do it. —the free dictionary.Read More
As a business manager, it's useful to understand the different kinds of analytics. Descriptive analytics are the most familiar kind: they describe what has happened. So, for instance, I have dashboards that show our monthly financial results—revenues, expenses and profit—and sales results. I can compare these results against our targets to ensure that we're meeting our goals and to flag performance issues that need further investigation.Read More
We all know the quote about the definition of insanity. “Insanity is doing the same thing repeatedly and expecting different results.” The truth is, we keep doing the same things repeatedly because it’s less complicated than change. It’s also easier to lay blame if someone or something just won’t bend, no matter how hard you try.Read More
If you’re a baby-boomer like me, you are probably thinking about and preparing for retirement. Even if it’s 10-years away, it will be here in a flash! If you’re the principal at a family-owned brokerage, you have the added task of speculating what the future of the brokerage will look like before you hand it over to the next generation.Read More
If you’ve attended any broker conventions recently, it’s impossible not to notice one thing. More and more startups are coming onto the scene. Once upon a time, all the technology vendors could fit into one aisle. Now there’s:
- Broker management systems
- Commercial management systems
- Digital platforms
- All-in-one solutions that do it all (whether you need it or not)
and the list goes on.Read More
Has technology gone to the dogs?
During the month of February, the most famous dog show in the world takes place at the Westminster Kennel Club. I’m sure you’ve seen it on TV or heard about it on the news. One of the judging criteria is called “Best of Breed,” where an animal is judged as the best in its breed category.Read More