Broker Services

MIHI’s broker services are designed to assist brokerages in driving profitability and growth while introducing unified processes and procedures to reduce E&O exposure and maximize CPC.

Focusing on operations, revenue and management, MIHI broker services begin with a basic framework that we customize in order to address your unique business issues at the executive, management and team levels.

Our broker services include:

CEO Coaching and Strategy
Management Services
Operational Processes and Workflows

CEO Coaching and Strategy

MIHI offers ongoing coaching services to help brokerage owners and CEO’s capture and prioritize new ideas, business initiatives and strategies. One such strategy is the ESP Program, created by the MIHI Group, the ESP Program is designed to unite executive and management teams in their purpose and their actions for the overall success and benefit of the brokerage.

Management Services

MIHI’s management services create and deliver solutions targeted towards brokerage development at the management level. A team of specialists hone in on specific issues in order to construct custom solutions that will ultimately drive business growth, revenue and productivity.

Finance & Reporting

Many brokers are so focused on generating new revenue that they miss the opportunity to retain as much as possible of the revenue they currently have. Our finance and reporting services include a review of your current financial system and reporting methods as well as your current corporate structure.

An in-depth overview of all expenses, including legal and accounting, will be compared against industry standards; we will help you make sense of what you are spending your money on and why in order to help you improve your operational efficiency. We will assess your CPC levels, uncover markets where CPC exists, set benchmarks and teach you how to use your Broker Management System effectively. We create customized management processes to improve your bottom line.

CPC Maximization

Many brokers don’t realize the extent to which their CPC – Contingent Profit Commissions – can drive additional revenue for the brokerage. We can help you maximize your existing CPC and uncover new or untapped opportunities. Within our CPC maximization service, we review your CPC targets and performance, create a joint business and CPC strategy with a structured carrier approach and focused producer strategy, and we manage your reporting and tracking so you have a clear idea of what revenue to expect and when.

Human Resources

A successful brokerage needs a strong leader. It also needs a coordinated, cooperative and engaged staff. Often, CEO’s will complain about the amount of time they have to spend dealing with staff issues, or their team productivity is low, or they can’t retain top performers, or they can’t finance the payroll and group benefits with their current revenue.

Our Human Resources service will help you clarify the employee issues that are keeping your brokerage from achieving success and long term profitability. We offer an audit process to help you implement strategies that will create the opportunity to conduct performance reviews and set hiring and firing protocols as well as essential team building and performance improvement plans (PIP). We will also take you through the compliance issues that could potentially expose you to lawsuits and payouts such as occupational health and safety and the human rights code.

Business Strategies

Through the use of our ESP Program, we will draw out the corporate vision for a brokerage and translate it into an executable three-year plan. It is not until the corporate vision is identified that it can be transformed into actionable steps that can be delegated to a management team supported by the CEO. Once clear goals are established across the company, executive and management teams become engaged in a shared sense of purpose and begin working together effectively as a team. Meanwhile, the head of the brokerage is able to focus on business development strategies, creating the most value for their company as they drive profitable growth.

Operational Processes and Workflows

What is the secret to a thriving, prosperous brokerage? It’s an organized workplace with staff members who have clear goals and specific job requirements that allow them to direct their energies towards driving revenue.

Our five day on-site programs focused on commercial and personal lines solutions Program (The CLIPS and PLT Programs) are custom designed to suit the unique needs of brokerages of any size and will create new workflows and processes for staff to improve productivity and efficiency. The programs focus on five main areas: renewals, endorsements, new business, claims and certificates. We define the producers’ role surrounding these five areas and develop clear working structures for the CSR workflows around expiry review, segmentation, remarketing, rewrites and retention. Once an organized office system is in place and time management systems are established to eliminate backlog and reduce E&O exposure, taking advantage of revenue generating opportunities becomes possible.

In addition to our highly regarded CLIPS and PLT programs, MIHI can also assist you in the development and implementation of a VIP department.