Cost Control Strategy: “Don’t step over a dollar to pick up a dime”

Cost Control Strategy

Think about your last renewal – how much time was spent on interviewing new agents, market selection, filling out applications/meeting with numerous insurance company Loss Control Representatives, and dealing with the “quoting process”? Now, think about how much time was actually spent sitting down to create an action plan to help you truly control your exposures and reduce your insurance spend over the next 5-10 years, rather than just the upcoming year. 

In general, insurance agents are known to do a lousy job educating buyers on how to truly control their insurance costs. Most agents do a fine job of focusing on Cost Control Tactics – quoting every year, jumping to the newest/hottest market, hounding the carriers for a slight rate reduction, etc. But unfortunately, focusing solely on the tactics makes it difficult to prioritize addressing and creating a Strategy, which will help you control your insurance costs beyond just this renewal.

 

        “Most people overestimate what they can do in one year, and underestimate what they can do in ten.”

                                                                                                                                           -Bill Gates                                                          

It’s important to put a strategy in place that will allow you to own the process. By implementing a strategy, you’ll be able to truly take control of your insurance destiny, rather than being stuck in the same old recycled insurance tactics. As your Proven Guide, we are committed to delivering Value Driven Guidance to your organization through everything we do.

Let’s develop an action plan together!