006: Revenue Levers - with David Wrathall

In this episode, David explains the importance of devoting time to leadership and management in any business journey. He shares some top tips for small brokers on how to improve their negotiating position with insurers and how to build significant revenue within the industry. He talks through his career journey, his achievements and some of his best moments! KEY TAKEAWAYS: Understanding your revenue drivers is significantly important. Putting in place plans and written processes is equally important if you want to support their growth. You must make time for management - it’s still a job that needs doing. If you don’t make time to do the job, the job doesn’t get done. Amplifying your new business effort by focusing on what you’re good at is how you can minimise time loss and maximise profits. BEST MOMENTS: ‘’Make sure your client is covered and make sure they can pay for the premium in the best possible way – but that doesn’t stop you making a profit. Selling something isn’t morally wrong unless it’s mis-sold.’’ ‘’Insurance is a people-based business, so you have to make a keen effort to bring your team on board with written and manageable processes. You need to communicate your plans properly and include your team in those plans.’’ ‘’Having proactive sales campaigns to sell additional products to your already existing client base is a cross-selling key to making a profitable revenue stream in the industry.’’ ‘’The more successful people are those that look to these processes and implement them properly with a thoroughly thought out plan.’’ RESOURCES: Gallagher Website: https://www.ajg.com/us/about-us/our-purpose/ ABOUT THE HOST Sarah Myerscough is the Sales and Marketing Director of Boston Tullis Group. The founder of The Insurance Brokers Podcast, she brings a wealth of marketing experience and a fresh perspective on marketing in the insurance sector. Boston Tullis works with insurance brokers to offer solutions to business development ceilings, particularly in the rapidly developing fields of video marketing and thought leadership. If you would like Sarah to help you develop an integrated marketing strategy, using state of the art concepts, then please book a free 20 min call via Calendly    Website: https://bostontullis.co.uk/ Evaluation Link: https://s.bostontullis.co.uk/s/podcastevaluation ABOUT THE GUEST David Wrathall is an Integration Director at Gallagher. He started his career as a civil engineer and moved into the insurance industry in the early 80s. Since then, he’s been in a number of senior roles within major UK brokers such as Towergates. David has significant experience in developing streamlined processes to enhance revenue growth prior to and following acquisitions. LinkedIn: linkedin.com/in/david-wrathall-9430836