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How Your Peers Graded Their Stewardship Programs

Toby Graham /

Brokers who want to grow must prioritize their relationships and embed value throughout their interactions with clients and prospects.

By embedding value for your clients, you can help them proactively recognize and manage areas of risk while earning the credit for saving them money. You can embed your agency in the insurance process and become something more than a commodity seller—not just a broker, but a problem-solver.

How well are you doing?

KPA built a free Stewardship Score Assessment to help you grade your stewardship activities—take a few minutes to see how well you’re doing.

Let’s look at how brokers scored their stewardship programs.

Their responses share some great insights into brokers’ strengths and weaknesses, along with some key focus areas for improvement.

Let’s take a look at what we’ve learned.

Big Picture, We’re Doing Alright

53% of respondents provide their clients with a full library of safety tools. These brokers see the value of making their clients’ lives easier and understand that providing safety tools and resources is a great way to do this.

These tools provide numerous benefits for employers, such as simplifying the process for tracking incidents, automatically filling out forms such as OSHA 300 logs, and providing a library of customizable checklists for audits and inspections.

With 47% of brokers falling short of providing a full library, KPA’s got some suggestions on tools to add to your arsenal. The leading broker-provided risk management tools can save a client countless hours of manual work.

57% of brokers don’t have their clients’ risks documented. It’s hard to provide guidance with a vague understanding of where your insureds need help.

The other 43% of our respondents who do have these risks documented can proactively help their insureds take steps to reduce claims and mitigate their risks—and it’s hard to think of a better way to strengthen a relationship than to save someone time and money.

53% of respondents are checking in at least quarterly with their clients. That’s great! Now, it’s time to put these quarterly check-ins to work.

Knowing your insureds’ risks and providing them safety tools (and yourself access to this data) empowers you to share actionable steps to help reduce specific risks—adding value to these check-ins.

With planned and thoughtful check-ins, you can become more than just another source of financial stress when times get tough–you can become a true partner–someone your clients turn to for help when bills start piling up.

Next time, we’ll cover areas we can all be doing better.

In the mean time, download the full study to get access to even more data and suggestions on how you can improve your client stewardship. Get the study >>

Improve Your Client Stewardship Using the Risk Management Center

KPA is here to help you shine. The Risk Management Center and our compliance experts have all the tools your clients are looking for.

As the data shows, brokers looking to grow their book of business must prioritize relationships and embed value throughout their interactions with clients and prospects. While new business is key to agency growth, retaining current clients is equally important.

The newly launched Stewardship Report provides a solution for brokers to continually demonstrate their commitment to delivering valuable solutions that impact the customer’s bottom line. The report details usage statistics of the Risk Management Center and the resources engaged over the policy period.

The Risk Management Center provides insurance clients the tools to manage insurance costs, provide top-down visibility and stay on top of regulatory requirements. Creating value for clients supports retention and new business for insurance agencies.

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