How Underwriters Negotiate so Customers Celebrate.

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Presentation transcript:

How Underwriters Negotiate so Customers Celebrate

I know how to get candy, do you…?

Negotiation is… The art of working with others to achieve toward a mutually satisfactory solution. Ritual conflict. The process of allocating costs and benefits. Psychological warfare/Smash mouth. A mystery not worth solving.

Workers Compensation Fund 20,000 policyholder- owners Dual Distribution Channel 30 Independent agencies producers MVV’s Compassion, Expertise, Integrity, Respect, Accountability, Teamwork

Why WCF? +Safety consulting +Dividends +Local claims service +Managed Care Savings +Online Tools +Policy Holder Input

3 Negotiation Pressures See R. Mnookin et.al. Being nice & kind vs. being firm & assertive Being nice & kind vs. being firm & assertive 11 My gotta haves vs. our partnership potential My gotta haves vs. our partnership potential 22 I negotiate for the company vs. I negotiate for me I negotiate for the company vs. I negotiate for me 33

There is never enough

Barriers to Negotiation Excellence Lack of training Easy to “blame the market” It’s company policy … No clear company model of successful negotiation processes or outcomes We are our own worst enemy

Maslow’s Message “To be a prime mover, to have control over one’s fate, to carry out and to succeed, to be a person rather than a thing, to make one’s own decisions, to have other’s acknowledge one’s work life.”

If you can ask a question You can negotiate D. Cooperrider

the best of what is

Craft what will be now

Why it works The customer doesn’t really know if they are getting a good deal; but they always know exactly how they are treated If they say it, then they own it. You become both facilitator and negotiator The negotiation is centered on the customer’s business goals and values

The other side will take shots at you.

All you need is...

…and tactic smarts. Organize & deploy Be yourself Adapt Think combinations Be kind and possible to provoke

Offers & Concessions Adapted from G. Subramanian, 2005 You must give what you want Make biggest concession early followed by successively smaller ones Swap bundles of issues & potential concessions Always sell the value of your concession & your good nature Always make the first offer Big Concessions ≠ Big concessions Big Concessions ≠ Big concessions Medium Concessions = Medium concessions Medium Concessions = Medium concessions

Qualities of great agreements Universality Reciprocity Publicity Confidant Approval Enduring M. Wheeler, 2005

“ ” GERALD WILLIAMS

Layne Kertamus Workers Compensation Fund Happy Negotiating!