Thinking “Outside the Box”

Having just completed my President’s Message (Guild of Industrial, Commercial & Institutional Accountants) for the Christmas Season (yes, it is early – at least for me, I don’t try to think about Christmas until December), I decided to digest this week’s numerous events.

I heard an excellent presentation by Faith Seekings at the Toronto Chapter of CIM’s AGM (for anyone who doesn’t know, CIM is the Canadian Institute of Management) with whom I am fortunate to be connected by LinkedIn, Facebook and Twitter, as well as personally. I highly recommend her for anyone looking to synchronize their marketing efforts to show some level of uniformity from a website to business cards to stationery, brochures and corporate image.

Yesterday, I also heard someone whom I have wanted to see in person for awhile, now – Wolfgang Jaksch – and the introduction by MediConsult of their new iMRS which will be available in North America in early 2011. My wife has been treated by a health professional with the current MRS offering and I try to keep an open mind concerning anything in life so that “electro-magnetic resonance” is, obviously, something I want to know more about. Wolf even ended his presentation with an introduction to a new online “health network” – www.wellaxy.com – and I wish to promote this site for good health and health-related exchanges of information.

What else is happening, from a business standpoint? It seems that my best month for new business in 9 years (yes, September was amazing) has been the catalyst for some “good luck”, though hard work seems to be the oxygen that ignited the flame. I have been attempting to close a deal for a home builder and was introduced to a realtor who also has need of commercial insurance. Then another home builder and I spoke about insuring “common elements” for a condo complex they are constructing – seems that their insurance broker may not have known it possible to insure (what other reason for the lack of service since it took them so long to provide a reply).

One account on which I have been working has added 6 other properties to insure and a former small business client of mine has asked me to quote on his business again. Recently, I insured a flea market booth for a long-time acquaintance of mine who then proceeded to provide me with a directory of listings to assist me in my solicitation efforts. Another source of business referred prospective clients to me, a new business associate has asked me to work with her on some clients and a member of the Guild of ICIA & CIM has asked me to prepare a quote for a new business of his.

Whether it be general commercial property/liability, commercial auto, Directors’ & Officers’ Liability, Builder’s Risk, Liquor Liability, Group Home/Auto or something as unique as “franchises”, “student rooming houses”, “hot dog carts”, “chip wagons” or Specialized Liability (including Product Recall and Errors & Omissions), I am ready to discuss with you.

My spreadsheet of activity for 2011 is quite substantial – including “hot” files and “cold” files that I hope to move into the warmer category during the next year. What is the reason for much of this activity and confidence? In the past, I felt that I needed to quote “apples to apples”, even if I did not agree with the coverage and deductibles. With limited markets available, it meant that I was unable to provide suitable quotes to a prospect to enable the closing of a deal. Now, our carriers are numerous – enabling us to offer reduced premiums and better coverage in most cases, allowing me to provide terms that I feel are the best for the client’s long-term insurance needs.

Why should a client have low deductibles ($500 or $1,000) if the business is most suited to $5,000 or $10,000 (or higher) deductible – yes, premiums will be lower but the client will not be faced with considering his/her filing a small claim that might mean a policy being non-renewed or having terms amended and fewer insurance companies wanting to insure that client. As the client’s “risk manager”, I might be making the decision but am expert enough to realize it is in the best interest of that client. That is a big difference, the difference from prior packaging and presentation. Confident, yes! But better yet, experienced and certain – not thinking inside old parameters but “outside the box”.

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