In the view of insurance brokers, a successful relationship with risk managers depends on the broker’s ability to achieve a clear understanding of a risk manager’s strategic objectives—and then to supply the information and programs that lead to satisfying those needs.
It is a relationship in which the primary goal of the broker is to listen and understand the business objectives and strains that each risk manager faces. That means understanding the business they are in; the factors driving their risk decisions; the resources they have available; and how they are judged by their superiors.
The successful broker/risk manager relationship is a highly individualized one, says Todd Macumber, president of the risk-services division at Hub International Ltd. Cultivating that relationship starts with the expectation that the broker understands the finer points of the risk manager’s business and helps him or her to anticipate what their risk needs will be.
Feedback, Haitsch notes, is critical—and that often means more than a conversation taking place during the month of the renewal process. He says it should be a year-round discussion in which clients discuss their strategic imperatives.
The bottom line for brokers, Haitsch says, is to keep their risk manager successful by regularly and proactively offering guidance on key issues pertaining to the client.