Landing the big fish is the story everyone tells – but for brokers just starting in the industry, the biggest mistake they make is trying to land that big client, says one award-winning broker.
“Don’t forget about the small guys,” says Scott Sleightholm, a commercial broker with Smith, Petrie, Carr and Scott Insurance Brokers in Ottawa, Ont. “Obviously with the big accounts, you get paid more money; but on the other side, those are the ones that are being attacked constantly by other brokers. The small guys, if you can help them out, they are the ones that are going to be loyal to you.”
Sleightholm’s advice carries weight, as he was named the Insurance Brokers Association of Ontario’s 2013 Young Broker of the Year at last year’s 93rd annual convention. And it is a success that is built on not just seeking out all business, but doing the homework before walking through the door.
“Our survival is based on new business, new business, new business,” Sleightholm told Insurance Business. “I think a lot of times people start hammering on phones, knocking on doors, and just write up one after another client without doing the research. From my experience, if you take the time to do a little more research on the companies, you are going to go a lot further.” (continued.)
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Sleightholm’s success has made him one of the ‘Hot Brokers’ that are being considered in the next issue of Insurance Business magazine. In the business since the age of 18, he learned insurance from the marketing side at his father’s company, Kenny Insurance Brokers in St. Thomas, Ont.
And it is from those small-town beginnings that Sleightholm learned to grow his book of business.
“A lot of times, brokers forget about the small guy,” he reflects. “You never really know what is going to happen, especially in today’s business environment. The mom and pop shop down the street, in five or 10 years from now can turn into a massive company that if you’ve been with them from day one, they will stick with you forever.”
