022: Renewals, Client Centricity and New Business- with Martyn Grime

On today's episode, we’re chatting to Martyn Grime of Park Lodge Business Consultancy. Martyn has over 40 year’s experience in the insurance industry and we’re extremely lucky to have him as part of the Boston Tullis network. Martyn specialises in renewal processes and new business strategies, planning and forecasting to increase income.   LEARNING OBJECTIVES: Renewal processes should be viewed as a great opportunity for a broker to renew on the best terms with their client but also to achieve the best result for the client. Taking the time to reassess a client’s position at renewal is key to identifying vulnerabilities. A client centric approach should be taken and is important in times like these. Now is the time to be focusing on your existing client base rather than chasing new business when the economy isn’t in a great place. The RAG renewal process represents a red, amber and green approach to handling client renewals and pipeline. By engaging more with your clients, it enhances the knowledge of the broker and promotes a better understanding of the clients’ needs. The focus should be good financial performance but also providing the best advice and service.   BEST MOMENTS: ‘’I also think from the outset, it gives you an opportunity to explore upsells and cross sells. With so many examples of brokers achieving their targets and with very little new business, just by actually effectively increasing the renewal retention rate and the premium of new business and giving the most appropriate advice to the client, it's helping the brokers own numbers.’’ ‘’…it's naive to expect new business to be plentiful. While there are opportunities inevitably, the economy's not in a great place. There is a lot of nervousness, a lot of businesses are actually retrenching rather than moving forward, so it makes sense to me to focus on your existing client base.’’ ‘’Every broker has got their own DNA, and they’re taught the language of certain trades and sectors and they’re good at it. I've always believed you should focus on that and work within those sectors where you've obviously got the ability to engage and you talk their language, rather than going into something thats completely left field and that is unknown to you.’’ ‘’All brokers are individual and bespoke but the process we've developed is capable of being adapted and adopted in any broking environment.’’   RESOURCES: Martyn Grime’s Linkedin: https://uk.linkedin.com/in/martyn-grime-fcii-61a6ab8   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