Broker Smackdown is a 2.5 day workshop designed for emerging leaders to enhance their overall understanding of the business. In teams of four, participants compete in a computer-simulated insurance brokerage market where they are challenged to think strategically and make decisions that senior leaders make every day. The goal is for them to improve their decision-making, strengthen their leadership competencies and understand the impact their decisions have in all areas of the business. Broker Smackdown has three regional competitions—the winning team from each region will compete in the National Broker Smackdown at the Insurance Leadership Forum in Colorado Springs, Colo., each fall.

The Program Focuses on Developing Eight Core Competencies in Three Important Categories

BUSINESS LEADERSHIP INTERPERSONAL
Business Acumen: Concepts, tools and processes that are needed for making sound decisions for the company’s business

Business Markets: Knowledge of existing and planned markets and market related initiatives from the perspectives of the competition, the suppliers, the customer base and the regulatory environment

 

 

 

 

Strategic Thinking: Understanding “big picture” thinking and planning, and identifying and maintaining focus on key success factors

Goal-Setting: Creating goals that stretch the team’s capabilities and support business strategies

Accurate Interpersonal Assessment: Understanding the interplay of personalities within a group, and assessing the barriers and opportunities that come from it

Relationship Building: Creating positive team relationships by valuing others’ concerns and contributions

Oral Communications: Ability to express oneself and communicate with others verbally

Collaboration: Ability to promote a culture of information-sharing, work together to solve business problems and meet business goals

 

 

 

 

Participants Make Decisions in The Following Areas

Finance
Financial Management: debt, accounts receivable, working capital, float
Financial Ratio Analysis: profitability, productivity, liquidity, EBITDA, ROE and loss ratios

Customer Management
Service levels, staff training, marketing investments
Customer satisfaction
Customer segment analysis
Profitability of each customer segment

Competition
Competition for policy sales and renewal
Competitive analysis

Sales Office Decisions
Lead source management
Production analysis
Producer competency development
Carrier management

 

CONCEPTS COVERED

A “total agency” perspective so you can Lead vs. Manage the business

How to apply proven business and management topics to agency operations

How to think strategically and analyze complex business issues

How to analyze key financial statements including income statement, balance sheet and cash flow statement

How to measure success using financial ratios and KPIs including production ratios, expense ratios, trust ratio, segment profitability and EBITDA

How decisions in one function impact the entire agency (integrated decision-making)

How to establish effective group decision-making roles and processes

The importance of the customer and their “lifetime value”

How to make better decisions and drive improved business performance

THREE FACTORS THAT PREDICT SKILL APPLICATION

Job Relevance
The simulation that was created for this program replicates an insurance market in a virtual world. The stakes are high, just like in business.

Personal Motivation
This program is presented as a competition where one team wins the opportunity to represent its firm at The National Broker Smackdown at the Insurance Leadership Forum.

Manager Support
Managers play an important role both before and after Broker Smackdown takes place. They receive a guide with recommendations on how to get the most from the investment they have made in training their employee(s).

  • They assess their employee(s) on the same competency assessment that is taken by the participant(s) prior to the session
  • They meet with the employee(s) before the session to discuss expectations and goals
  • They meet after the program to review the Development Plan the participant(s) created during the program

 

 

 

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April, 2019

Broker Smackdown South 2019

April 23April 25

This event is now full. Please contact Julia Ruiz at julia.ruiz@ciab.com for more information on 2020 events.

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May, 2019

Broker Smackdown West 2019

May 21May 23

This event is now full. Please contact Julia Ruiz at julia.ruiz@ciab.com for more information on 2020 events.

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July, 2019

Broker Smackdown North 2019

July 16July 18

This event is now full. Please contact Julia Ruiz at julia.ruiz@ciab.com for more information on 2020 events.

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