The good news is that independent agents and brokers are fairly satisfied with their insurance carrier relationships, but there is plenty of room for improvement–particularly when it comes to giving producers more input on key strategic decisions, such as products and coverage, claims-handling and technology support.

That was one of the major conclusions from a Producer Satisfaction Survey of 1,596 producers from firms of all sizes conducted by Deloitte, in partnership with National Underwriter. Highlights were covered in NU's Nov. 9 edition, available at www.property-casualty.com.

NU and Deloitte invited seven major players–two independent agents, two national brokers and a trio of leading carriers–to review the results and talk face-to-face in New York City about the issues raised in the survey. Three experts from Deloitte also participated, with yours truly serving as moderator.

An edited transcript of our 90-minute discussion appears below.

Sam Friedman:

NU Editor In Chief

Deloitte's survey found that most agents and brokers feel their carriers don't seek enough input from them on key points such as product development, claims and marketing. Yet carriers often point to the partnership relationship they have with their producers. How do you reconcile this disconnect between perception and reality?

Scott Addis, President & CEO

The Addis Group

Past NU Agency of the Year

I don't disagree. However, agent/broker and carrier communication is a two-way street. High-performance agencies understand the importance of carrier partnerships and ongoing communication.

Progressive agencies challenge their carriers to innovate and deliver cutting-edge products, services and resources on behalf of their mutual clients. It is this strategic interaction where intense and productive relationships are built. It is also here where agents and brokers and carriers gain a competitive edge.

If there is a disconnect, it occurs when the parties do not value each other's wisdom. If agents and brokers and carriers are focused on meeting the consumer's needs, a disconnect should never happen.

The concept of triangular risk management reflects the collaboration between the agent and broker, carrier and insured to improve an organization's risk profile. TRM is best evidenced through risk management service plans as well as claims and stewardship reviews.

The benefits of TRM are enormous, as shown by reduced competition on key accounts, elimination of unnecessary bidding, improved retention, enhanced relationships and impact on the bottom-line performance for all three parties.

Alex Soto, President & CEO

InSource Inc.

Past IIABA President

There are varieties and levels of partnerships, and I think that some of the companies we work with really do roll up their sleeves to craft a plan and chart a course with us. But others pay lip service to the process. They come in and say we're going to plan together, but then lay out pretty much what they want and basically say, “This is what we need you to do.” That is not a true partnership.

Also, when a company asks an agency to meet certain goals, it is important that the company commit to providing the tools–underwriting, pricing and products–to meet those goals.

As for advisory boards, I have been in some that were organized around your golf handicap and others that took it very, very seriously and listened carefully about product development, which isn't easy. Those companies that carefully sit with their producers can develop a much closer relationship and get a leg up.

In our agency, our whole focus is about creating stickiness between ourselves and our clients. By that I mean that they have a warm and positive feeling about us, and perceive that they will be hurt if they leave us. We effectively utilize our company partners to help us accomplish this.

Kevin Kenny, Executive V.P.,

Insurance Brokerage–East

Wells Fargo Insurance Services

There are a few basic tenets that serve us and our partners well.

One is to be very active listeners and gain an understanding and appreciation for the roles we both play, as they are somewhat distinct. Brokers are eternal optimists, and wherever we establish a relationship with a client or prospect, it's our responsibility to find a proper home for them. We rarely say no; always say maybe; and when possible say yes.

But our company partners have specific underwriting guidelines and don't necessarily embrace every opportunity with the same optimism.

I would recommend to our carrier partners that their underwriters develop a deeper understanding of the brokerage and agency side of the business.

To be true partners, our carriers have a responsibility to engage with us in business planning, but it's equally important that they have the authority to act on that responsibility and actually assist us in getting decisions made, whether that be on pricing, coverage terms or a claim.

Our points of contact should have the authority to act out on our behalf, but more specifically on our client's behalf.