That's the way the wind blows

Broadly speaking, the soft market has demonstrated how poor the broking sector is in terms of marketing and sales. When rates are falling, a broker's inability to grow organically is starkly exposed; some 90% of brokers are 'process-led'. That is, they believe that looking after existing customers well is the priority for the business and, if successful, recommendations for new clients will automatically follow. They seldom carry out any marketing, and only chase new enquiries if, at the time

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