MANAGE & LEAD
benefits no one. Sometimes it’s best to hear the bad news
upfront and save everyone a lot of time. When agents
and companies collaborate and strategize on how to win
a particular account, the result is often a win for each.
The alternative has been the “what have you got for me”
method that has failed to produce the needed result for
either the carrier or the agency in the past. Forget about
the doughnuts – bring your creativity, ideas, and solutions.
All that said, it’s also important for agencies to understand
what the carrier is looking for in a key partner. We can be
better partners by:
• Understanding the company’s appetite and its
risk profile and providing a steady stream of new
business opportunities that are a fit for both carrier
and agency
• Sending complete, accurate submissions – at least
60 days in advance
• Providing a “need-by” date, target pricing and a full
narrative of the client’s operations
• Being willing to negotiate and able to sell the
carrier’s proposal, even if it exceeds the target price
Recent studies have shown that independent agencies
are trying to spread their business among far too many
carriers. Isn’t it a better idea for all concerned to select a
group of core carriers and other providers and work toward
building higher-quality relationships with them? As long as
both parties are customer-centric and striving to provide
the best risk management alternatives to the consumer,
everyone wins.
Cheryl L. Koch, MBA, CPCU, CIC, ARM, AAI, AAM,
AIM, ARP, AIS, API, ACSR, AINS, AFIS is an agency
management consultant, educator and speaker
at a variety of industry events. She is the CEO of
Agency Management Resource Group located in
Lincoln, CA.
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