CONGRATULATIONS to Brian Seamans, Brandon Muskopf, Mario Reveles and Tony Pozas for representing InterWest in the The Council of Insurance Agents & Brokers’ (CIAB) National Broker Smackdown Championship and emerging as the winning team.
The competition began in March with 24 teams from agency brokers throughout the country competing in regional matches. These were 2.5 day workshops that challenged the teams to run a simulated brokerage competing in a virtual marketplace with a 360 degree perspective on the brokerage value chain from customer segment analysis and lead source management to financial management and producer competency. Their performance and leadership styles were examined and InterWest’s team emerged as the western regional winners and eligible to compete in the national championship.
The objective of the three-day National Smackdown competition was to develop a business plan to take control of a struggling insurance carrier and a network of agency brokers. The high-energy exercise engages the teams using computer simulation to build core leadership competencies, improve business acumen and sharpen problem-solving skills. Following are a few of their objectives:
- Better understand the “macro perspective” of insurance operations
- Enhance financial acumen-understand how insurance carriers and agencies make money
- Understand the importance of long term marketing positioning, strategic thinking, business planning, and how to apply these principles to the management of the business
- See the longer term value of customers and the importance of meeting/exceeding customers’ expectations
- Analyze opportunities and threats in the external market
- Key metrics that were analyzed: Agency total revenues, net profit and net margin, combined ratio’s, carrier return on investment, revenue & net income growth, carrier stock price and credit rating, customer retention, producer & support staff attrition
Thanks to our team for professionally representing InterWest and bringing home the National Championship trophy!