Eric Marcus, Managing Director of One80’s national life and health insurance brokerage, received a call from a retail broker late on a Thursday afternoon with a time-sensitive situation involving a high-profile client. The client is a professional athlete with other commercial ventures. They were unhappy with their current insurance agent. Eric identified opportunities outside of his specialty practice and introduced key members of the One80 team, such as Ken Linneman, Vice President, Wholesale Practice, to assist the client.
Challenges
The client’s insurance portfolio lacked cohesion with expiration dates scattered through the year. Their Media Liability and Cyber coverages were identified as the highest priority, as it had recently expired. The client’s schedule demanded flexibility from One80.
Strategy
One80 assembled a team of specialty practice members including Ken Linneman, Vice President, Wholesale Practice to address the client’s problems and a conference call was set up for 10:00 PM ET, only hours after the initial call. The client’s team included family members and his business agents. After getting familiar with One80’s capabilities, we launched into a discussion of how to move forward together.
Implementation
Ken Linneman and One80’s Financial Lines team obtained Broker of Record letters to work with Media Liability and Cyber underwriters to obtain the proper coverage. Coverage was bound with no break in continuity. One80 and the retail broker are working toward a common expiration date for all their policies. A shared file has been created for all parties to access documents.
Results
One80 took over all lines of business. The retail broker and his client expressed gratitude for our sense of urgency and abilities in solving their problems. The client’s family placed a high value on transparency and expertise, and One80 delivered. We anticipate this will lead to a pipeline of business in this area.