Our industry has been compared to a three-legged stool--held up by carriers, brokers and clients. All three legs are intended to work in harmony so that our business remains healthy and vibrant. Competition is at the heart of our vibrancy, along with new revenue growth and the ability to provide clients with value.
Over the course of the past several years, however, an entirely new perspective has entered the competitive arena. The firms that have embraced it will prosper, while those that don't will sink into the abyss of price and commodity sales. This new perspective is the ability to differentiate based upon a quantifiable value proposition.
There are several reasons why this new business style has gained a tremendous amount of momentum inside the brokerage/carrier/client relationship. Here are just a few:
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