Matching a Client and Carrier: What You Should Know

Dev a good product_carrier match blog

Before starting any business partnership or relationship, it’s important to ensure that each party understands one another’s needs. This is especially true in the insurance industry where there are three parties engaged in the insurance process. It’s essential that brokers have a thorough understanding of a client’s business as a whole in order to effectively match them with a carrier. Additionally, they must be able to identify their client’s business, operational and economic pressures. Here, we will provide some valuable tips for developing a good insurance product and carrier match. The carrier will need all the same critical information in order to understand the client’s risk factors and propose insurance solutions. Ultimately the client must be satisfied and the experience should be a win-win for all parties involved – client, broker and insurance carrier.   

 Tips to keep in mind

  • It all starts with understanding the client’s hot buttons and business objectives and ensuring all
    parties have this knowledge
  • Determine the client’s historical experience and familiarity with loss-sensitive programs
  • Read and understand the client’s financials. Look for opportunities to engage your own resources
    to evaluate the account and develop a risk management strategy
  • Get to know the client by attending introductory meetings and carrier presentations

Always be a resource to the client by following these 
helpful tips:

  • Be on the lookout for problems to solve for all stakeholders ‒ this is an opportunity to gain
    credibility and support from a prospective client or carrier
  • Educate the insured at multiple levels
  • Watch your language ‒ avoid buzzwords, insurance acronyms, and complex words or phrases
    without properly explaining them
  • Choose supporting materials and teaching methods to convey your message effectively

Educating clients on the various options and risks associated with different insurance products is extremely important. Outline the differences between a loss sensitive and guaranteed cost program so that the client can determine the best plan for their business’ needs. Explore a premium deferral option with your underwriter versus a standard pay-in strategy. Effectively use and explain the benefits of loss limits, cash flow, loss conversion factors, and using loss development factors. Depending on the size of the account, a retrospective rating plan is often a worthy competitor to a guaranteed cost program. Remember that the ultimate goal is for the client to have a great experience and feel confident with the carrier they are matched with. For more information on PMA’s insurance services, please visit our website at

Jeanne Consiglio, Vice President, Northeast Region

Jeanne Consiglio is the Vice President of Northeast Region insurance operations of PMA Companies. With more than 25 years of experience in the commercial insurance field, she is responsible for expanding PMA's presence and generating profitable business growth by working closely with brokers and agents throughout New England.