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Positioning for Broker Selection

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Oceanus Partners

The Flawed and Dangerous Process Employers Follow

The process most employers follow to manage their risks and purchase insurance is harmful to them and threatens their business. They assign insurance markets and shop for the best price. In the end, the lowest price (and the incumbent agent) usually wins. And gaps and errors in their program continue to be overlooked.

Agents will better serve their prospective and current clients by aligning them with carriers best suited to address their risks, even if the relationship comes at a higher cost. Outcomes could be greatly different for employers if they would select their broker first and then allow the broker to go to the marketplace on their behalf to find the right-fit insurance company.

Let Oceanus Partners help you develop a strategy that positions you to become that broker of choice by engaging in dialogue with employers and offering them a comprehensive risk assessment and exposure survey.

Helping Employers Identify Gaps and Errors in Coverage

When employers perceive the insurance buying process as a commodity transaction and ask agents to provide them with an “apples to apples” comparison, they receive quotes on comparable programs, which will likely leave them with huge gaps or errors in their coverage. For example:

  • Incorrect named insureds
  • Inadequate Building, Personal Property, and Business Income Limits
  • Inadequate coverage and limits for contractual obligations
  • Inadequate transportation or off premises property limits
  • Unacceptable exclusions

Employers are not knowingly engaged in a harmful process, but too few agents have exerted their will enough to change their behavior. Agents must take a stance that they will not enable employers to continue down this destructive path.

What If You Could…

  • Lead employers to a more effective way of buying insurance and managing risk and help them achieve what they really want: business sustainability and profitability?
  • Enhance and protect your client relationships and deliver on-going measurable value year in, year out?
  • Compete for and successfully write larger more complex accounts?

We Can Get You There

Let Oceanus Partners help you grow your revenues by learning how to engage in a dialog with an employer that helps them self-discover the flaws in their process.

Learn more about our program for individual producers.