I was recently afforded the opportunity to sit in on a small gathering of some of the nation's top brokers and benefits professionals. Hosted by frequent Benefits Selling contributor, Kevin Trokey, the meeting was all about one thing: getting better.
Early on, I noticed this group was fully committed to the things we hear about so often in this industry. Rather than cowering in fear or clinging to the way things have always been, they were looking to the future.
Several themes developed over the three days. Here are a few that I think every broker should hear:
-
This is the greatest time to be a broker. Opportunities for success are still all around you; they just look different.
-
Communication is key to broker success, but it doesn't just happen – it must be purposeful.
-
To remain relevant, brokers must leverage technology. Instead of fearing the disruptors, brokers must emulate their aggressiveness and find ways to make technology work for them.
As Trokey noted, ongoing communication with clients is more important than ever, because it reminds them of the many ways that brokers provide value. Then, when someone does come around offering the latest shiny new thing, clients will truly understand what they'd be giving up by leaving. “Nothing is more damning to your future success than silence,” Trokey told the room. Sounds like a good bumper sticker.
Frank Mengert, director of benefits technology at ebenefit Marketplace, had another great message: If you survived 2015 without technology, you won't do the same in 2016. He noted that the most successful brokers are capitalizing on opportunities like PPACA compliance, premium increases, plan changes, automation and consolidation. Yes, he said “opportunities,” not “challenges.”
“If all you do is sell insurance,” he said, “you're missing out. You need to have a full service offering.” Rather than thinking of yourself as a broker, you should focus on becoming an advisor and a consultant–a specialist your clients can lean on.
A lot of information was packed into those three days, and I took a ton of notes. But my real takeaway was simple: All this talk about change and adaptation isn't just lip service. Real brokers are making real changes every day to improve themselves and their businesses. It really does feel like a sea change is taking place right before our eyes.
As most of you know, we're holding a meeting of our own coming up in April, and it's going to provide even more information and tools to help brokers and other industry professionals shape their own futures. We have a great lineup consisting of some of the greatest minds in the industry, and I encourage you to join us April 18-20 in Florida. We'll continue to do all we can to provide you with everything you need to be successful.
Every table at the meeting last month held a card with the following quote from Henry Ford printed on it: “The competitor to be feared is one who never bothers about you at all, but goes on making his own business better all the time.” Sounds like a challenge to me. You up for it?
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.