010: The Challenges for Small Brokers - with Sara Fardon

On today's episode, Sara talks with us about her vast and varied experience in the insurance industry and how she believes the future of insurance will be shaped. Sara has been instrumental in the growth of Willis Tower Watson Network and will share with us with some advice and tips on the challenges that small brokers do and will continue to face along with why she believes it’s important to build strong relationships with likeminded industry professionals. LEARNING OBJECTIVES: Building close relationships as a network both professionally and personally is an integral part of growing your business – not every network is focused on competing. Keeping up to date in adapting to the marketplace and adhering to the regulatory landscape within the relevant framework. Foreseeing the changes to ongoing regulation is an important part of business upkeep for insurance brokers over the coming years. Technology has massively changed the way in which insurance brokers do business, but the world is still both analogue and digital – success in the market is a blend of both. Creating an open culture on mental health has to happen in order for us to still maintain a healthy work/life balance within the industry. BEST MOMENTS: ‘’Being able to network with likeminded individuals in the same industry completely outweighs that of thinking that they should be competing against each other in that particular market segment.’’ ‘’Brokers are always facing challenges because the market changes all the time. The one thing brokers are good at is that they are entrepreneurial, and they will evolve, adapt and thrive.’’ ‘’The insurer markets will continue to change because insurers want to make sure they’re as efficient as they possibly can be and will always focus where they get the best return.’’ ‘’I call us the Digital Broker Network… we use digital tools for our members such as online portals and CRM systems, but we shouldn’t forget the old fashioned ‘picking up the phone and speaking to someone’ tool.’’ ‘’There is much more activity across the board regarding diversity which is applaudable – nobody wants to feel like they’ve achieved something because they tick a box.’’ RESOURCES: Willis Tower Watson Network Website: https://wtwnetworks.com/team/executive-team 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 Sara Fardon is the Managing Director of insurance broker network giant, Willis Tower Watson Network. Sara began her insurance industry career at Eagle Star and then moved to GA Bonus before moving to Willis. She’s been a part of Willis Tower Watson Network’s team since its inception in 1999 and became Managing Director of the firm in 2011 – and is now responsible for all aspects of the network business. She has recently celebrated her 20 year anniversary with the company. LinkedIn: https://www.linkedin.com/in/sara-fardon-6767aa31/ Evaluation Link: https://s.bostontullis.co.uk/s/podcastevaluation