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Choosing an Insurance Broker DOES IT ALL BOIL DOWN TO. PRICE?. JRP. CAPITAL RISK. YES. Generally Speaking,. JRP. CAPITAL RISK. WHY?. JRP. CAPITAL RISK. - PowerPoint PPT Presentation
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JRP
CAPITAL RISK
PRICE?
Choosing an Insurance Broker DOES IT ALL BOIL DOWN TO
YES
JRP
CAPITAL RISK
Generally Speaking,
WHY?
JRP
CAPITAL RISK
~ Operantly Conditioned into a State of General Indifference
~ Service Has Been Marginalized by Process
~ Loss of Qualitative Value-added Leads to Quantitative Shopping
~ Quantitative Analysis = Commodity Shopping ~ Commodities are Price Driven
JRP
CAPITAL RISK
Risk Management Community
The Brokerage Community
JRP
CAPITAL RISK
YOU REAP WHAT
YOU SOW
Client Expectations
JRP
CAPITAL RISK
What is a Broker Supposed to Do?
~ Provide Meals and Play Golf?~ Consultative? ~Transactional?
There are
Types of Brokers
Now Populating
the Landscape
JRP
CAPITAL RISK
TYPE
1
JRP
CAPITAL RISK
The Institutional Broker
~ RESULT De-Personalization JRP
CAPITAL RISK
~Job Segmentation Finders – Meals & GolfMinders - Consultative& Binders - Transactional
Institutional Characteristics
TYPE
2
JRP
CAPITAL RISK
The “Eat What You Kill” Broker
JRP
CAPITAL RISK
“Eat What You Kill” Characteristics
~Producer is King of the Hill ~ “Back Room” relegated to
Service Oblivion~Business Can Be a Revolving Door as Focus on the Rainmaker Erodes Commitment to Quality
Service
JRP
CAPITAL RISK
TYPE 3
The Traditionalist Broker
JRP
CAPITAL RISK
Traditional Characteristics
~Re-birth of traditional values ~ Client Focused ~Delivery of Services By Way of a Team Approach~Reward Production and Service Equally~Focus on Account Retention By Way of Providing Superior Service
PRICE?
Process Has Lowered Buyer Expectations JRP
CAPITAL RISK
Why Does It Seem To Be
All About
JRP
CAPITAL RISK
___________________ = Dumbing Down
JRP
CAPITAL RISK
~ Marginalizes Subjective Qualities
~ Creates an Environment Wherein the Focus is on
Price
Dumbing Down
JRP
CAPITAL RISK
~ Intellectual Capital ~ 24/7 Mentality ~ Commitment to Excellence ~ Selflessness
The Discerning Buyer Should Know the
Difference
JRP
CAPITAL RISK
The Discerning Buyer Should Pay
for
Quality