Andy Neary (YouTube, Oct 4 2023) warns about unprofessional reactions when insurance brokers lose business. He argues a respected advisor must be willing to lose gracefully, recounting incidents of experienced brokers behaving immaturely and using a pitching anecdote (tipping your cap) to illustrate that acknowledging defeat and treating former clients respectfully preserves reputation.
Chapters
I have been witnessing some interesting behavior lately in the insurance industry that I want to address. One of the signs of a respected advisor is somebody who is willing to lose. We've had some clients who fortunately have won some business lately away from other brokers who have lost quite frankly for a lack of service. But the behavior displayed by the broker losing the business has absolutely blown me away. I have witnessed 55 year old men act like 9 year old boys when they lose a piece of business business. As if your client owes you something. Your clients don't owe you shit. I can remember when I was a pitcher and when I threw my best stuff a 3:2 change up and the guy hit it out of the park, you know what? I had to tip my cap. He beat me. When you lose once in a while you got to tip your cap. What good does it do to absolutely berate your now former client when they leave? Because you're never getting it back. So my advice to you, you want to be more respected, act like an adult when you take second place.