When Does Smaller Actually Become Better?

 

You may or may not recall an article in last month’s CHART-Exchange Magazine titled “What Did We Learn From CHART’S 2016 Summit”.

“Despite our best intentions, often more time is spent catching up with old friends, connecting with previous contacts, social endeavors, etc. When we return home we realize that our pre-event goal of creating new business more often than not has gone unfulfilled.”

The first line reads “Venue preference. Smaller gatherings develop greater intimacy and ultimately more commerce. Our 300 person limit and 420 face-toface pre-arranged meetings have surfaced over twenty immediate programs and a huge pipeline for the future”.

We’ve all been to events that are just too big to absorb. There are so many competing agendas (programs, exhibits, vendors, meals, speakers, group meetings, etc.) that it becomes difficult to prioritize your time. Each of us attends these events in an effort to do more commerce.

Despite our best intentions, often more time is spent catching up with old friends, connecting with previous contacts, social endeavors, etc. When we return home we realize that our pre-event goal of creating new business more often than not has gone unfulfilled.

Our team has a lot of collective experience in making sure new business is a core component of our events. We have birthed two organizations dedicated to specialty program business. The first one was a lot of fun and we did a lot of “experimenting” to ensure that all of our audiences had their own forum to be heard (vendor partners, program administrators, carriers, and potential program administrators).

Our newest launch – CHART – is a niche within a niche within a niche. We have broken down some barriers and have created face-toface dialogue between London Syndicates and U.S. producers (both existing and potential Coverholders). As stated previously, 420 private new business meetings were pre-arranged for our October Summit. These sessions were supplemented with forty Vendor Partner workshops, forums to show off various agency network models, and networking events.

A core objective for 2017 is to further develop the “smaller actually becoming better” model that has worked so well between Coverholders and Risk Takers to include two other audiences.

A. VENDOR PARTNERS – CLIENTS
We will work closely with our duespaying Vendor Partners in a three-tiered strategy:

1. Granting them the ability to tell their stories directly from the mouths of the agencies and clients they have helped. The BEST way to advertise your services is via a satisfied customer!

2. Work in tandem with our Partners to personally invite the prospects they are trying to convert into clients. CHART has a robust referral system where we diligently follow-up on all leads.

3. Establishing private meetings in advance of our events so that everyone’s time is maximized.
 

B. COVERHOLDERS MARKET
There are hundreds (if not thousands) of specialty agents that would like to be Coverholders someday. Obtaining Delegated Underwriting Authorities from Lloyd’s is no simple task. Again, a three-tiered strategy has been designed to support the core value “to do more commerce between the U.S. and London”.

1. Mentoring. Matching smaller specialists with expert mentors who are already Coverholders.

2. Coverholder Lounge. Offer a forum at our event for existing Coverholders to present their programs.

3. CHART Mart. Our team is building a “virtual shopping mall” for our member’s programs Our intention is to advertise nationally under the best practices brand of “CHART Exchange” to drive new commerce in a more efficient manner.

-Glenn W. Clark , CPCU

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