In remarks last week to the British Insurance Brokers Association Conference in Manchester, England, Greg Case, president and chief executive officer of Aon Corporation, a leading global provider of risk management and human resource consulting and outsourcing, said that the challenges facing clients today have never been greater, and that brokers must remain client-focused to ensure their future.
Case told the audience of 2,000, “Everywhere we look, the magnitude, complexity and scrutiny of risk are going up. Are clients telling us they really aren’t worried about risk anymore? Are clients saying, “We don’t need you. We’ve pretty well got this risk thing figured out”? No.
“Risk is increasing. Business challenges are bigger than ever. The obstacles to achieving business objectives and seizing opportunities for growth are both more numerous and more complex.”
Case cited three steps all brokers must take to ensure their future: remain client-focused; provide a long-term perspective; and invest in innovation. “The principles are easy to describe but hard to execute,” he noted. “But we must do so to support our clients and to strengthen our position.
“If we do not provide value to clients, we can’t succeed. If clients do not find value in our advice and our services, we will cease to exist. Our opportunity is to become even more valuable advisors, because the world needs our expertise to manage difficult challenges.”
He went on to say, “It is my strong belief that the future of insurance brokers is bright. Our services and expertise are needed more than ever. But I would add that there are some conditions on that. We can’t be complacent. We must take steps to ensure that we remain important partners for clients and carriers.”