Brokers who may be feeling burned out or ready for a career change might want to have a chat with this man before taking the leap.
“When I started here, I promised myself I wouldn’t get jaded,” says Peter Reynolds, a broker with Dawson & Keenan Insurance in Sault Ste. Marie, Ont. “You hear it from some who have been in the industry all their lives and are looking for greener pastures; I can tell you now – you have no idea what it’s like out there. This is a fantastic industry to be in.”
Prior to joining the brokerage a decade ago, Reynolds had been in a couple of retail jobs.
“I was working in sales at a car dealership, and in retail clothing,” he told Insurance Business. “Then I came directly into commercial lines insurance. I can’t tell you how I wish I had done this years’ ago.”
For Reynolds, the key to keeping the job exciting is to bring that level of excitement to every meeting with the client.
“The customer will see that and also get a boost from it,” he says. “Keep it light; keep it exciting. That is the key to success.”
Although Reynolds has no problems keeping his energy levels up, he is noticing that his commercial clients are suffering from something he describes as ‘Quoting Fatigue.’
“In the last five or six years or so, I’ve noticed a lot of companies are saying they are getting ‘Quoting Fatigue,’” says Reynolds. “They tell me they are being bombarded by people from Toronto and locally who want to provide insurance quotes. Lately, I’ve encountered a lot of resistance from companies when I am approaching them because of this.”
Ironically, those who are doing the cold calling and all the legwork to offer better quotes usually wind up with nothing to show for it, he says.
“They will get the client a better quote, then the client will turn around and ask their insurer to match it,” says Reynolds. “Usually the insurer can not only match it, but better it – and keep the client.”
