Operations

How to handle grieving clients

Brokers are used to responding to clients’ questions about their insurance needs, but are they always able to effectively handle grieving customers? The million-dollar question is how to ensure brokers are building enduring and caring customer relationships, while also protecting the company’s interests, Megan Devine suggested in a blog published earlier this week in Harvard […]

By Jason Contant | September 5, 2018

3 min read

How much buyers are willing to pay for online books of business

Buyers are pricing in potential future market disruption, such as online distribution, when buying a broker’s books of business, a P&C transaction advisor told Canadian Underwriter Wednesday. Mike Berris, partner and practice group leader with Vancouver-based Smythe Advisory said he is seeing transactions of five to six times revenue for so-called online books. In one […]

By Jason Contant | September 5, 2018

3 min read

Best exit strategies for selling your brokerage

Looking to sell your brokerage? Don’t assume your brokerage will eventually sell for an ever-increasing multiple of revenue, or that you will be able to sell at the high end of the current ranges, a P&C advisory and consulting firm said recently. If that’s the case, what are your best exit strategies? If you’re not […]

By Jason Contant | September 1, 2018

3 min read

How to motivate brokers on the front line

Brokerages looking to better motivate frontline workers should optimize play, purpose and potential, while reducing pressure, a recent experiment suggests. In a blog post for Harvard Business Review, authors Lindsay McGregor and Neel Doshi implemented an experiment to transform the operating model of four stores in a retail organization. To build a genuine sense of […]

By Jason Contant | August 30, 2018

3 min read