Corporate Brokers: Do you analyse your New Business Project Team’s failures?
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20-Mar-15
n a slight change to our usual blog format, Aston Charles’ Director, Richard Jones, has just posed a very thought provoking question..…. ‘As well as basking in the glory of their New Business Project Team’s successes, do Corporate Broking Houses also analyse their failures?’
I’ve recently enjoyed some interesting conversations with a Group Risk Manager who has controlled a variety of challenging insurance programmes in his time, including those pertaining to some of the world’s biggest brands and arguably one of the North’s most complex accounts.
Having put these huge corporate accounts to broker tender, he had some fascinating insights as to why some of the best known names in global broking have failed to inspire him, and more importantly secure his business. Coupled with anecdotal evidence from other ‘In-House Risk’ candidates, it seems that some Globals, which really should know better, are just resting on their laurels - or at least relying heavily on their brand, rather than putting in the hard yards themselves.
It begs the question ‘who has the foresight to analyse where their failures have arisen and what needs to change?’ I know of several Group Risk Managers who are actively seeking a return to the broking environment. They’ve been on the ‘receiving end’ of a variety of tender pitches and know what makes a New Business Team’s approach successful. Even more crucially they know where the others have fallen foul! Think of the insurance equivalent of ‘Hunter Turned Game Keeper’, someone who can use their knowledge of the buying styles of corporates, thereby adding real value to a forward thinking intermediary.
So, I’d like to ask our larger corporate clients ‘would your business benefit from employing someone who has adjudicated over many a beauty parade and could therefore expertly advise you on how to sharpen your approach?’
Richard Jones, 0845 8388 490.
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