Broker Trading Skills in a Hard Market

Overview

A hard market presents a quite different set of challenges and demands more sophisticated strategies and skills from those required in softer market phases. With the advent of the first hard market in many years, there are a generation of insurance professionals who have only ever known soft market conditions. This session details the challenges of a hard market for Brokers and their Clients and explores some best practice strategies and skills for Brokers to maximise their effectiveness working with Clients and the market. The session also provides valuable insight for Insurers on how to support their Brokers in this process. Finally, we explore the common factor that underpins the success of all these strategies, and how best to achieve it.

Learning objectives
•Provide hard market trading skills and strategies to allow Brokers to build their effectiveness in terms of both client and market interaction;
•Provide techniques to protect clients from competition and insulate them against the market cycle;
•Build understanding of how to exploit market conditions for new business acquisition;
•Outline the importance of a consultative approach in supporting these skills and techniques;
•Provide valuable insight for Insurers on how to support their Broker partners.