The
Elder Group's client success strategies and success
stories and Interviews
Today
I am interviewing Glenn Tippy president of GBW (Gerrity,
Baker, Williams, Inc.).
Most
importantly, Glenn’s company and Glenn’s business strategies
and approach to client problem solving is extraordinary.
We at the Elder Group have been told time and time again
from clients how special GBW and Glenn Tippy are.
Mr.
Elder: Good afternoon Glenn. I am happy to have
this time with you to discuss your success stories.
We at the Elder Group have heard from so many companies
how great you are, I thought we might discuss your thoughts
on you successes.
Mr.
Elder: What are some of the challenges you face
as a business owner and how do you rise above them?
Mr.
Tippy: As with any business, we are affected by
the broad economy. But we have had solid success and
growth over the last year despite the environment. That’s
probably due to listening to clients, working to protect
their success by understanding their needs and exposures.
Mr.
Elder: What challenges are your business clients
facing in this economic environment?
Mr.
Tippy: Our clients cover a broad spectrum of business
so their results range from those who are having to
cut back sharply, to those who are still growing dramatically
each quarter. In general, our successful clients are
watching their sales closely, by week or even day if
that is possible. They are working to keep tight contact
with their own existing customers, and pushing constantly
for new customers by every avenue they have ever tried
or can find. Of course, our clients are watching their
expenses with a new intensity.
Mr.
Elder: What is happening in the insurance industry?
Mr.
Tippy: Well, prices are starting to rise and all
consumers are always concerned with price, but we are
also seeing a flight to quality. Since such icons of
the insurance industry as AIG and The Hartford were
downgraded from A+ to A, consumers have become concerned
about the long term stability of insurance carriers.
We check those ratings and receive updates daily. At
this moment, we’re working to control insurance cost
increases for clients as the market hardens, while keeping
them in solid companies.
Mr.
Elder: How do you find your opportunities?
Mr.
Tippy: As always, referrals from existing clients
and other people who respect us give us the best sales
prospects, whether individual clients or acquisition
opportunities.
I
also expect all of our sales staff to be involved in
their communities. Those communities may be geographic,
as in their local towns. Or they may be industry specific,
as for a sales person with a background in the pharmaceutical
industry. Over time, if you have expertise, credibility,
and ethics, and put in hard work in good causes, people
get to know you and to trust your advice.
Traditional
business promotion through trade shows, direct mail,
and various forms of Internet presence can also work;
if you have products to match the targets and a compelling
story to tell.
Mr.
Elder: What sets GBW apart from other insurance
counselors?
Mr.
Tippy: We approach our clients’ needs from a risk
management perspective. Before you can quote a price
or recommend coverage, you have to understand the client’s
business. Someone who only wants a “me too” quote without
review and discussion will find plenty of brokers who
are willing to throw quotes at the wall without understanding.
But you pay for counsel and should get it, before you
find you don’t have what you need.
Mr.
Elder: Can you tell us a success story about one
of your clients (without naming names of course)?
Mr.
Tippy: Minor issues can expose a client to substantial
problems. New York State recently created a problem
for businesses conducting business in NY on an occasional
basis. A technicality in how Workers Compensation coverage
is shown on their home state policies can expose businesses
to fines. On that issue, just counting a few clients
whose former agents mishandled that technicality, we’ve
been able to step in and have $128,000 in fines rescinded.
On
a broader scale, counseling clients to maintain high
limits of liability insurance has probably saved more
businesses and personal assets than any other thing
we do. In personal insurance alone we can point to two
recent automobile accidents where claims against our
clients soared over the $500,000 policy limit, but were
met by the umbrella or excess liability policies we
recommend to every business and individual. That protection
doesn’t take away the trauma and sorrow of the accident,
but it can keep you from losing your business or your
future income.
Glenn
Tippy, President and Manging Partner of Garrity,Baker,
Williams Inc. He may be reached at 1-800-548-2329 or
visit their website at https://www.gbwinsurance.com.
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