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Making the case that broking is broken

Brokers need to significantly change the way they interact with clients, bringing more value to the relationship, not just a focus on renewals.

By George Lucas, William Baker | Updated on March 17, 2017
If brokers continue to focus solely on renewals, they risk losing clients who are looking for added value from the relationship. (Photo: Thinkstock)

As we’re now well into another year, the easy tendency for everyone involved in the insurance industry is to keep doing what we’ve been doing: Work a bit longer and harder, and hope we can deliver the desired growth and enhancements for 2017 over 2016.

That “renew as expiring” approach to our professional life clearly flies in the face of Einstein’s famous definition of insanity quote.  The paradigm has shifted, and as players we either revolutionize our approach now, or simply cling to the hope that things will work out fine, which by now we all should know is not a strategy.

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