PB Week: never underestimate the value of relationships
Last week ended on a high with a trip to France for the Allianz south east region Golf Classic, writes Paul Samways. Whilst the golf course was superb, for me it was all about seeing old friends and meeting new ones and it served as a stark reminder of the change in landscape with Dave Hare (Venture Preference), Kevin Young (Jelf) and Jeff Laidler (Giles).
Surely the greater challenge for the consolidators is not about commission leverage, but how to keep these top quality guys interested and harnessing their entrepreneurial skills - a much more valuable long-term asset.Over dinner on Thursday night Paul Maidment announced the retirement of Bruce Fertnig, the surprise on Bruce's face was there for all to see! Seriously Bruce will be missed by many and has been a great friend to myself for many years.
Comment of the trip belongs to Paul Scott, who confessed to being disappointed that he was on the lower level of the Euro tunnel train, thereby reducing his view. An unusual concern for someone in a tunnel.
Over the weekend, as an ardent Chelsea supporter, I was not surprised to see Michael Ballack's Germany come second. Whilst undoubtedly the best team in the Tournament won, I do feel for Ballack who has now come second in the Premiership, second in the Champions League and second in the Carling Cup. Lets hope history does not repeat itself for the 2008/09 Season.
The start of this week was a rare treat, with a visit to a client. Like all cricket counties, Surrey is now a complicated business and a full review of the Business Interruption Covers/Indemnities was due. After a meeting with a firm of market researchers acting on behalf of Axa, I also met with the carrier to whom we have recently transferred a large established scheme to.
The decision was driven not by money and a short-term win, but the need to work with a carrier prepared to genuinely partner with us and strive for mutual benefit. We have no issues with carriers buying brokers as it must work for their business model, but they must understand independent brokers will also have to align their own strategy to facilitate their best growth options going forward.
Message for the week, never underestimate the value of relationships.
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