M&A in the broker space continues to thrive. Even though the number of global M&A deals declined to 620 in 2020, following a record high of 671 in 2019, the aggregate deal value in 2020 was actually 39% higher than in 2019 at $21.6 billion, according to Deloitte.
Management Information (MI) has always been vital to running a successful business. This is particularly true in such a data-rich industry as insurance. In fact, today, it all seems to be about data.
Small and medium enterprise (SME) brokerages are at a crossroads. While they dont have the budget of their larger counterparts, they do have the potential for a serious competitive advantage.
The signs of a thriving business are easily measured: growing revenue and expanding profit margins. Continue reading “How Insurance Brokers Can Use Data to Maximize Revenue Growth”
Having identified the business imperative for change and demonstrated a positive business case for doing so, we can now look at the practical steps of making the change. Continue reading “Future-Proofing Your Insurance Business”
No one wants their insurance brokerage to fail. And yet, most insurance brokerages arent doing what it takes to make sales maintain a high retention rate, or solve client problems.
Every insurance professional wants a competitive advantage. So much so that its easy to get caught up in the idea that you need to outsell everyone around you. But that mentality can only take you so far.
Lets start out with a survey question: Who doesnt want to close more deals?
One of the hardest things for insurance brokers to understand is the need to keep up with the times.
Wouldnt you like to make more money? (Of course, you would! Dumb, question, right?)