You, like many other independent agents, fight to deliver value to your best clients. That said, it sometimes feels like you’re just another cog in the quoting machine. The carriers don’t help. The traditional market stacks the deck against you. And, by proxy, your clients.
If you work with clients who are considering captive insurance, you have an opportunity to help them prepare for the underwriting process, strengthen your relationship, and grow your own revenue along the way.
Helping your clients prepare for the captive underwriting process through a simple but powerful risk management audit is a value-add that boosts client loyalty and your revenue.
This article shows you exactly how guiding your client through this audit makes you a trusted partner and turns you into a revenue generator. The more you help strengthen your client’s business, the better for your practice.
Why Conducting an Audit Matters
Captive underwriting committees want to know why a business has low claims and whether that success is intentional and sustainable. A well-prepared audit answers those questions and sets up your client as the ideal candidate for captive insurers.
But here’s the win for you: agents who help clients provide consultative value, opening the door for deeper client engagement and potential additional revenue.
How Audits Add Value for Your Clients
When you guide a client through a pre-underwriting audit, you help them:
- Gain clarity on their risk management strengths and weaknesses.
- Have them look favorably to captive underwriters by demonstrating intentional risk control.
- Identify gaps that can be addressed before entering a captive.
- Develop a long-term risk management strategy that benefits them inside and outside of the captive.
For your client, this is more than getting approved for a captive. They’re also improving their business practices.
How Audits Help You Increase Revenue and Retention
When you help clients conduct an audit, you:
- Differentiate yourself from transactional agents who simply quote and renew. You’re looking out for your client’s best interest.
- Strengthen client loyalty by providing proactive guidance.
- Create new revenue opportunities by offering audit services as a paid engagement.
- Be a long-term partner who helps clients control costs, reduce risk, and achieve long-term success. Don’t just sell them insurance.
Why This Matters for You and Your Client
Helping your client prepare for captive underwriting gives a larger opportunity for long-term success. This is for them and you.
When you guide your client through this audit:
- You help them become a stronger, more insurable business.
- Strengthen your client relationships.
- You put yourself as an indispensable advisor to your clients.
When you deliver more than just a renewal, clients notice and stick with you.
Next, read our article on how to best prepare your clients for the captive underwriting process.
Want to make sure your client is ready for captive underwriting or learn more about captives? Become a member of Captive Coalition for FREE to get access to resources, checklists, and expert guidance to help clients and maintain your book of business.
