Many of you have spoken about your ability to provide your clients with risk services and cost reduction programs for years. Some of you have even branded them into a marketing approach to differentiate your firm by highlighting these services.
But, sometimes, words are not enough. That is especially true right now as the reality of the “Hard Market” hits you and your clients. As they turn away from the issues of the Pandemic and focus on operating their businesses, they will see only one thing coming:
The skyrocketing cost of risk financing and insurance.
They’ll want to know the answer to The Million Dollar Question: What has been the ROI (Return on Investment) of doing business with our firm?
Unless you can answer this critical question with measurable results, all the “branding” time and money you have spent over the past several years will go up in smoke.
Here are 3 steps you need to take right now to protect your accounts from the coming wave of price increases:
- Identify every resource you have delivered to your client over the past several years, including third-party offerings and your own internal resources.
- Value the delivery of those resources to the buyer. It’s not good enough to say that we provided you with “Value Added Resources”… what is the specific value?
- Translate that resource value onto the buyer’s financial statement. This is where they live right now, inside their EBITDA, margins, or budgetary surplus (NOT insurance rates!)
Here is the critical point: Your best C-Suite buyers want you to work this way because they are working this exact way themselves. They are looking to provide their buyers with an ROI so they too can answer the Million Dollar Question.
Our clients are thriving despite the Hard Market as they take market share from their commodity-based competition. If you want to move upstream, increase your sales pipeline, and gain sales techniques and insights to navigate the Hard Market with your own growth strategies, you can learn more here.
All the best to Analytic Brokers,
Chairman, Analytic Brokerage™ Platform
Make more money on Larger accounts - Let's get started
About the Analytic Brokerage™ Platform
Leading brokerages and producers across North America choose the Analytic Brokerage Platform to maximize their large account profits, revenues, and growth.
Utilizing the latest KPI’s, client metrics, and business intelligence, the Analytic Brokerage Platform is the only system in existence that helps brokers:
- Quantify a buyer’s financial leakage and true Total Cost of Risk
- Deliver consistent and meaningful reports
- Attract and retain larger accounts
The Analytic Brokerage Platform is currently embedded inside many of North America’s leading brokerages who control over $2,000,000,000 of annual revenues.