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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.

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Presentation Transcript
Price

Choosing an Insurance Broker DOES IT ALL BOIL DOWN

TO

PRICE?

JRP

CAPITAL RISK


YES

Generally Speaking,

JRP

CAPITAL RISK


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

Risk Management

Community

JRP

CAPITAL RISK


The brokerage community
The Brokerage Community

YOU REAP

WHAT

YOU SOW

JRP

CAPITAL RISK


Client expectations
Client Expectations Community

What is a Broker Supposed to Do?

~ Provide Meals and Play Golf?

~ Consultative?

~Transactional?

JRP

CAPITAL RISK


There are types of brokers now populating the landscape
There are CommunityTypes of Brokers Now Populating the Landscape

JRP

CAPITAL RISK


Type 1
TYPE Community1

The

Institutional

Broker

JRP

CAPITAL RISK


Result de personalization
~ CommunityRESULT De-Personalization

Institutional

Characteristics

~Job Segmentation

Finders – Meals & Golf

Minders - Consultative

& Binders - Transactional

JRP

CAPITAL RISK


Type 2
TYPE Community2

The

“Eat What You Kill”

Broker

JRP

CAPITAL RISK


“Eat What You Kill” Community

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 Community 3

The

Traditionalist

Broker

JRP

CAPITAL RISK


Traditional Characteristics Community

~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

JRP

CAPITAL RISK


Why Does It Seem To Be All About Community

PRICE?Process Has Lowered Buyer Expectations

JRP

CAPITAL RISK


___________________ Community

= Dumbing Down

JRP

CAPITAL RISK


Dumbing CommunityDown

~ Marginalizes Subjective Qualities

~Creates an Environment

Wherein the Focus is on Price

JRP

CAPITAL RISK


The Discerning Buyer Should Know the Community

Difference

~Intellectual Capital

~ 24/7 Mentality

~ Commitment to Excellence

~ Selflessness

JRP

CAPITAL RISK


The Discerning Buyer CommunityShould Pay

for

Quality

JRP

CAPITAL RISK


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