Pauldz
New Member
I've worked in reinsurance sales for over 30 years, and during that time I have also worked in the alternative risk marketplace - captives, large deductibles, self-insurance, etc. These opportunities usually come to me via referrals where the incumbent broker has handled the business for years under guaranteed cost, but doesn't know how to transition to alternative risk when their client wants to make the change. These are usually accounts with guaranteed cost premium >$1.5MM.
Sometimes the incumbent broker is reluctant to work with me either because of a fear I'll BOR them, or that they'll have to share commissions with me for years. I'm not interested in getting into the retail business.
I've been giving some thought to starting a consulting business on the side to help these broker's - give them the expertise and market knowledge needed to successfully close the deal and retain the client for them. This would include market research, optimizing the app, knowing the critical components to negotiate, etc. Basically show how to do it for a one time fee.
I'm interested in knowing what you forum members think about this idea. Do you think it's a good idea? Do you think brokers would pay me to gain access to the expertise that could mean the difference between retaining or losing a big account? If you have a large account, would YOU be willing to pay me to walk you through the process each step of the way so you don't lose valuable time trying to figure it out for yourself? Basically save you time, money and remove the fear of losing a large account.
Please let me know, thanks.
Sometimes the incumbent broker is reluctant to work with me either because of a fear I'll BOR them, or that they'll have to share commissions with me for years. I'm not interested in getting into the retail business.
I've been giving some thought to starting a consulting business on the side to help these broker's - give them the expertise and market knowledge needed to successfully close the deal and retain the client for them. This would include market research, optimizing the app, knowing the critical components to negotiate, etc. Basically show how to do it for a one time fee.
I'm interested in knowing what you forum members think about this idea. Do you think it's a good idea? Do you think brokers would pay me to gain access to the expertise that could mean the difference between retaining or losing a big account? If you have a large account, would YOU be willing to pay me to walk you through the process each step of the way so you don't lose valuable time trying to figure it out for yourself? Basically save you time, money and remove the fear of losing a large account.
Please let me know, thanks.
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