Your insurance broker may not be able to provide the level of service required to improve your business results.
- Ask you, "when does your insurance program renew? We'd like to bid."
- Tell you, "we have a new carrier, program, or alternative risk vehicle we'd love to show you."
- Talk to you about loss ratios, premiums, or their many years in the insurance industry.
- Can talk only in subjective terms and concepts (i.e. no data or meaningful numbers).
If a broker focuses on the broad brushstrokes of risk management using standard industry jargon, chances are high you are being underserved.
In today’s data-driven business environment, you should be looking for a broker who is capable of understanding your financial outlook AND has a plan to improve it.
They will talk to you like this:
- "Let's quantify how much Financial Leakage you have inside your existing insurance program to identify cost-saving potential."
- "What are your short and long term business goals? What KPI's should we use to measure our stewardship of your program?"
- "Based on our risk management strategies and program implementations, we have improved your profits and EBITDA by $[a measurable amount]."
The bottom line is this... If an insurance broker talks to you the same way that all other brokers talk to you, that's a good sign that they are operating on an obsolete platform.
You deserve real data and meaningful metrics that are attached to YOUR outcomes. You deserve "decision support." You deserve more than simple theories and subjective numbers. You deserve to improve your profits, shareholder value, and bottom-line.
If you feel you may have outgrown your broker, contact us today to get a COMPLETE picture of your Financial Leakage with specific solutions to recapture the controllable capital. As certified Analytic Brokers, we’re leading the way in risk management cost-reduction strategies.
Contact us today