Who is your "best" broker? Are you sure? Have you based that on feeling or facts? Having a 360-degree view of your broker – market presence, new...
Who is your "best" broker? Are you sure? Have you based that on feeling or facts? Having a 360-degree view of your broker – market presence, new business generation, and relationship strength – is essential for making informed distribution decisions.
Many carriers rely on gut feelings or incomplete data when evaluating broker relationships. This approach can lead to missed opportunities and inefficient resource allocation.
The key is to develop a comprehensive, data-driven understanding of each broker's true value and potential.
To truly know your broker, analyze these critical factors:
Focus on these measurable indicators:
To successfully leverage broker knowledge:
Develop a comprehensive broker evaluation system, establish regular review processes, and create targeted support strategies based on data-driven insights. This approach will help you optimize your distribution network and maximize the value of your broker relationships.
