• Risk managers are discovering
they can receive invaluable
support from their brokers.
• The best brokers embed in client
organizations and know how to
dialogue with the C-suite.
• Industry connections and “big
data” analysis enable brokers to
provide trusted advice.
a service. She wants them to be as committed and knowledgeable about the
organization as she is.
“The only way that the relationship is going to be successful is if you build a
tremendous amount of trust,” Clark said.
“You have to be completely open and honest about everything, no matter how
bad it is, or how bad it may look to the
market or underwriters.”
“Once you establish that trusting
relationship, I think everything else falls
into place,” she adds.
Sentara underwent significant
growth recently, acquiring five hospitals
in about six years. The expansion
required a vast amount of integration on
insurance programs and a merger of risk
management departments and claims.
Clark said her brokers rolled up
their sleeves and expertly navigated her
through the consolidation.
brokers as “trusted advisors.” But the same survey found that some participants see
their broker as more of a straightforward service provider rather than as a source
The survey results indicate there is plenty of room for brokers to bring more
value to clients.
OhioHealth’s brokers meet each year with OhioHealth’s risk management
team to review insurance coverages. And when the health system holds quarterly
risk management retreats, the brokers attend. They bring with them education
and insights on a broad range of topics, from property insurance markets to cyber
Porembski’s brokers also collaborate with the risk managers when there’s an
upcoming presentation on risk issues to senior management. Sometimes the
brokers help prepare the presentation, he said.
“We end up looking exceptionally good to our senior leaders and our board,”
Involving the broker in interactions with leaders outside the traditional risk
management team has benefits beyond selling products, he said. It extends the