Welcome to… THE BROKER SMACKDOWN! Max Hernandez Jeff Lefebvre Disclaimer: There will be no actual smacking or hitting during this event (that we know of, or encourage, that is)
The Process Break up into separate management teams Each team runs a separate Brokerage 1 Round = 1 Year At the end of each round Winner at end of several receive feedback on years! performance
The Smackdown Engages the Whole Brain
Customer Common “Blind Spots” & Methodology Satisfaction Thinking Points About the “whole” picture of 1. You run a business ( active , not Agency/Brokerage operations Staffing & Sales passive learning – a “laboratory”) Management ► and the need for coordinated/aligned decision- Total immersion ( overwhelmed Analytics: making with data. A representation of Competitive Analysis ► P&C Carrier & Source/COI reality, not a replication) About how you make money 2. Markets Customer Analysis ► Management ► Management ► (i.e., financial reports, metrics) By doing it! (making mistakes ) Source/COI Analysis ► About long-term positioning 3. Profitability Analysis ► Focus on the bigger picture (get (i.e., strategy) outside your specialty area – talk Production Analysis ► Portfolio Analysis ► About the need for management to others, listen to others) 4. & leadership As an organized team Customer Financial • About customers & their lifetime Management ► Management ► (divide/conquer/report) value Competing ( focusing on end- • About external forces goals) (i.e. markets, competitors) Fun! Financial • The advantages of Performance teams/multiple perspectives/dialogue/debate 10 lbs in 5 lb bag Outcome: An opportunity to share thoughts & Improved Decision-Making best practices in real-time
PERFORMANCE MEASUREMENT Team: ________________ Using the KPIs below, document how you want your company’s performance to be assessed. Rules: • Assign a 0% - 50% weighting to each measure. • You are expected to leave a sustainable company. Revenues CANNOT drop by more than 20% and attrition CANNOT be higher than 20% in the final round! New rules may be added. • Forecasted Trust Ratio must be >=1.0 for final round. • First tie-breaker: Equal weightings on every measure below. • Second tie-breaker: A vote amongst non- tying team members and faculty for “best” agency. Metric or KPI Circle Weighting Circle Net Revenues Avg. Final Net Profit € Avg. >=12.5% Net Profit % (ROS) Avg. >=12.5% Net Profit Final % or € Return on Investment Avg. Final ROA or ROE (if final ROE is chosen an equal or higher weighting must be in average profit ) Customer Experience Avg. Final Customer Satisfaction Index (CSI) or NOTE: All customers, weighted Lifetime Value (LTV) by customer count. Producer Attrition Avg. Final 100%
Some suggestions for best “virtual” experience… more later • This will be intense, and fun! • We will start on time (we will end on time), so connect early and THEN have your coffee • Keep camera on as much as possible, connect with computer audio vs. telephone – test this during Office Hours! • Stand up and stretch frequently (feel free to turn off video) • In catastrophic failure (or Zoom bomb), don’t panic… wait for email • Suggest 1280 x 720 resolution for best simulation experience (do you know how to change it?) • Now you need to get ready, complete your Individual prework … and then get together for “As a Team” prework
Recommend
More recommend
