opportunities in brokering 2006
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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 - PowerPoint PPT PresentationTRANSCRIPT
2005 Arthur J. Gallagher & Co.
Opportunities in Brokering2006
Opportunities in Brokering2006
By Paul Gilkerson & Tom LannenWith Christy Zada
ARTHUR J. GALLAGHER & CO.ARTHUR J. GALLAGHER & CO.
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IntroductionsIntroductions Tom Lannen, Area President, Gallagher Benefit Services
B.S. Business Management, Bradley University 198411 years with Employee Benefits Insurance Carrier11 years with Employee Benefits Broker
Christy Zada, ??
Paul Gilkerson, Associate, Buisness Development, Gallagher Benefit ServicesB.S. General Business and Trumpet Performance, University
of IllinoisFormer Gallagher Intern
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Outline/AgendaOutline/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
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Who we are: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)
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Gallagher Industry BasicsGallagher Industry Basics
School
Factory
Corporation
Insurance Carriers
A.J. Gallagher
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We Are A Provider Of Risk Management Services Including:
We Are A Provider Of Risk Management Services Including:
Brokering
Consulting
Claims Management
Risk Control
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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:AJG focuses on clients in areas such as:
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What is the role of a Broker?What is the role of a Broker?
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Role of a BrokerRole 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
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Property/Casualty Consultative ProcessProperty/Casualty Consultative ProcessConsultative Process: Total Cost of Risk (TCOR)Consultative Process: Total Cost of Risk (TCOR)Consultative Process: Total Cost of Risk (TCOR)Consultative Process: Total Cost of Risk (TCOR)
Identify Risks
Identify Risks
AnalyzeAnalyze
Design/SelectBest SolutionDesign/SelectBest Solution
Execute/Implement Solution
Execute/Implement Solution
Measure Results
Measure Results
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
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Contemporary Employee Benefits Brokerage Services
Contemporary Employee Benefits Brokerage Services
Benefits Administrator
Benefits Manager VP, HR CFO, CEO
EE Communication
EE Engagement
Market Analysis
Regulatory Compliance
Benchmarking
Financial Analysis
Strategic Planning
Healthcare Risk Mgmt
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Generate new business Referrals Conventions Phone prospecting
Service existing clients Renewal planning Periodic stewardship reports Risk Management Consultation
A day in the life of a broker…A day in the life of a broker…
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Continuing Education Maintain professional standards Stay ahead of the industry Doing your “homework”
Industry Relationship Building Carrier seminars Vendor Capabilities
A day in the life of a broker…A day in the life of a broker…
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What does it take to be a broker?What does it take to be a broker?
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A Single digit handicap…
And a big appetite…
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What does it take to be a broker?What does it take to be a broker?
Expertise in the field
People skills
Analytical skills
Self motivation
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What does it take to be a broker?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
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Why become a broker?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
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How do I become a broker?How do I become a broker?
Funny you should ask…
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AJG Summer Intern ProgramAJG Summer Intern Program
Christy Zada, AJG Summer Intern 2006
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AJG Summer Intern ProgramAJG Summer Intern Program
Just Anothe
r Summer Job!
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Program ObjectivesProgram Objectives
Let interns assess a career in insurance, in sales, and in sales at Gallagher
Let Gallagher assess interns for future employment potential
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How Are You Going to Learn Our Business?
How Are You Going to Learn Our Business?
9 week internship
On-the-Job Training
Fast-Paced Environment
Interaction with Executives
Classroom training
Rotations
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What Are You Going to Learn?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
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Intern ProfileIntern Profile
All Areas of Study
Sophomores and Juniors
Open to Brokering Career
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Record of success
Above average grades
Involvement in activities
Leadership roles
Competitive nature
Strong work ethic
Intern ProfileIntern Profile
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The DetailsThe Details
Location: Metropolitan Chicago and 36 other national locations
Dates: June 4 to August 3, 2007
Compensation: $4,000
How and when to apply
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Apply Online www.ajg.comApply Online www.ajg.com
ajg.com
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Why do we enjoy what we do?Why do we enjoy what we do?
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QuestionsQuestions
Thank you.