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Opportunities in Brokering 2006

ARTHUR J. GALLAGHER & CO. Opportunities in Brokering 2006. By Paul Gilkerson & Tom Lannen With Christy Zada. Introductions. Tom Lannen, Area President, Gallagher Benefit Services B.S. Business Management, Bradley University 1984 11 years with Employee Benefits Insurance Carrier

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Opportunities in Brokering 2006

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  1. ARTHUR J. GALLAGHER & CO. Opportunities in Brokering2006 By Paul Gilkerson & Tom Lannen With Christy Zada

  2. Introductions • Tom Lannen, Area President, Gallagher Benefit Services • B.S. Business Management, Bradley University 1984 • 11 years with Employee Benefits Insurance Carrier • 11 years with Employee Benefits Broker • Christy Zada, ? • ? • Paul Gilkerson, Associate, Buisness Development, Gallagher Benefit Services • B.S. General Business and Trumpet Performance, University of Illinois • Former Gallagher Intern

  3. Outline/Agenda • Background- Arthur J. Gallagher & the Industry • What does it mean to be a broker in Today’s world? • Arthur J. Gallagher’s Internship program

  4. Who we are: • Founded in 1927 • World’s Fourth-largest Insurance Brokerage and Risk Management Services Firm • Over $1.5 Billion in revenues • 8,200 Employees • 250+ Sales & Service Offices (including international)

  5. Gallagher Industry Basics Corporation Insurance Carriers Factory A.J. Gallagher School

  6. We Are A Provider Of Risk Management Services Including: • Brokering • Consulting • Claims Management • Risk Control

  7. Real-Estate Healthcare Environmental Garment Entertainment International Marine Captives Higher Education Aviation Employee Benefits Services Religious Construction Hospitality Public Entity Transportation Restaurants Professional Services AJG focuses on clients in areas such as:

  8. What is the role of a Broker?

  9. Role of a Broker • Assist Clients with Protecting the Assets of the Organization • People (Employee Benefits, Workers Compensation) • Building/Inventory/Vehicles (Property & Casualty) • Liaison between client and vendor companies • Insurance Companies • Third Party Administrators • Regulatory Compliance Consulting

  10. Property/Casualty Consultative Process Consultative Process: Total Cost of Risk (TCOR) • 1. Identify Risks • Identify exposures to loss • Develop risk management criteria 2. Analyze • Collect quantitative and qualitative data • Compare against internal/external benchmarks • Interpret data 3. Design/Select Best Solution • Generate alternative solutions • Identify risks for each solution • Determine “best” solution vs. criteria 4. Execute/Implement Solution • Develop action plans • Anticipate and plan for potential problems • Implement change 5. Measure Results • Implement performance measurements • Track short and long-term performance • Evaluate outcomes • Enhance measures and improve solutions as needed Identify Risks Analyze Measure Results Design/SelectBest Solution Execute/Implement Solution

  11. Contemporary Employee Benefits Brokerage Services Strategic Planning Healthcare Risk Mgmt EE Communication EE Engagement Market Analysis Regulatory Compliance Benchmarking Financial Analysis Benefits Administrator CFO, CEO Benefits Manager VP, HR

  12. A day in the life of a broker… • Generate new business • Referrals • Conventions • Phone prospecting • Service existing clients • Renewal planning • Periodic stewardship reports • Risk Management Consultation

  13. A day in the life of a broker… • Continuing Education • Maintain professional standards • Stay ahead of the industry • Doing your “homework” • Industry Relationship Building • Carrier seminars • Vendor Capabilities

  14. What does it take to be a broker?

  15. A Single digit handicap… And a big appetite…

  16. What does it take to be a broker? • Expertise in the field • People skills • Analytical skills • Self motivation

  17. What does it take to be a broker? • Ability to think on your feet • Guts • It’s all about relationship building • With client • With carrier • Between client and carrier

  18. Why become a broker? • Ability to make nearly unlimited income • The harder you work, the more you earn • Extremely social environment • Perform a service that directly impacts lives • Variety – no two days are the same

  19. How do I become a broker? Funny you should ask…

  20. AJG Summer Intern Program Christy Zada, AJG Summer Intern 2006

  21. Just Another Summer Job! AJG Summer Intern Program

  22. Program Objectives • Let interns assess a career in insurance, in sales, and in sales at Gallagher • Let Gallagher assess interns for future employment potential

  23. How Are You Going to Learn Our Business? • 9 week internship • On-the-Job Training • Fast-Paced Environment • Interaction with Executives • Classroom training • Rotations

  24. What Are You Going to Learn? • All Aspects of Insurance – Property, Casualty or Employee Benefits • Negotiation Skills • Client Relationship Building Skills • Presentation & Public Speaking Skills • Writing Skills • Personal Strengths & Weaknesses

  25. Intern Profile • All Areas of Study • Sophomores and Juniors • Open to Brokering Career

  26. Intern Profile • Record of success • Above average grades • Involvement in activities • Leadership roles • Competitive nature • Strong work ethic

  27. The Details • Location: Metropolitan Chicago and 36 other national locations • Dates: June 4 to August 3, 2007 • Compensation: $4,000 • How and when to apply

  28. Apply Online www.ajg.com ajg.com

  29. Why do we enjoy what we do?

  30. Questions Thank you.

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