Although there are brokers who through a lengthy term of service have no doubt endeared themselves to their clients, it is important to note that the Power BrokerŽAward focuses on recent accomplishments.
In fact, fully 50 percent of the skills and accomplishments that comprise a Power BrokerŽ in our judges' eyes stem from information about a specific challenge a client faced within the past year, and how the broker helped them overcome that challenge. The remaining 50 percent of the criteria are comprised of client testimonials on how the broker provided excellent customer service and displayed in-depth industry knowledge.
Identifying a Power BrokerŽis not an easy task. We know that the writers and editors who work for Risk & InsuranceŽare not privy to the day-to-day conversations and business interactions that mark the professional life of a broker. That's why we depend so heavily on conversations with the corporate risk managers we call on to provide references for our Power BrokerŽ selections.
Given our focus on recent accomplishments, the past year gave us plenty of material to work with. There was no shortage of insurance brokering professionals who stepped up and delivered superior solutions and customer service for their risk management partners.
The past year was marked by history-making upheavals in the Middle East that gave new depth to the term "political risk." The earthquake and tsunami that struck Japan in March had brokers scrambling to help their clients absorb the shock not only of property losses but of widespread business and supply chain interruptions. True risk management heroes emerged in some cases from the chaos of these events. In this issue of Risk & InsuranceŽ we are honored to tell some of those stories.
Going forward, we plan to review and revise our criteria and judging process for selecting Power Brokers. In our 2013 renewal, we will be providing brokers and brokerages with a round of feedback to let them know whether their references are responding to our inquiries. The goal of this added layer of communication is to make the field of viable applicants even deeper by giving us more access to more information about the best brokers.
We know that commercial insurance brokers and their risk management partners are very busy people. We also understand and appreciate the time it takes to fill out a Power BrokerŽ application and provide references.
That's why we added a new website this year, www.riskandinsuranceawards.com, which provides information about Power BrokerŽ and the other Risk & InsuranceŽ awards programs. One purpose of adding the website was to make it easier for brokers to submit and track their Power BrokerŽ applications.
We hope the end result of making the awards program more accessible for more brokers will be an even greater range of stories about great risk management work performed under pressure by committed professionals.
-- The Editors
February 21, 2012
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