The power of an independent insurance broker

What does it mean to be independent? For one, it means resisting outside influence on your decisions that seeks to skew and sway them. As an entrepreneur, you are keenly aware of these pressures on your business as you navigate a maze of competing interests and priorities in attracting new clients and maintaining relationships with your partners.In solving your business challenges and moving toward your goals, you will have developed many ties inside and outside your industry with subcontractors, clients, insurers and other partners such as brokers and lenders to name just a few.Managing this network of commitments can be difficult for the best of us and often to we look to advice from trusted connections to save time and boost our efficiency. After all, no company in the world can do it alone. Even bitter rivals Apple and Samsung rely on each other for buying and producing transistor chips, even as they endlessly sue one another in court.Accordingly, we need to know we can trust our partners and one brick in the foundation of trust is knowing your partners will give you their honest, straightforward advice in any situation. Their independence matters because it means the people you rely on can help you without ulterior motives.When it comes to insurance, the beauty of an independent broker is that it sets its own standards and is free from the conflict of interest that direct writers face. One tangible benefit is that brokers can actually visit your business, sit at your desk and really see things from your perspective.This helps the broker determine your needs and become an advocate for them. Once they have that information, they can leverage their access to multiple markets and get you the best value for your needs without bowing to pressure from insurers to sell products. This also frees us from pushing the idea that the cheapest rate is the best. A broker with integrity will determine the right product for you that can scale with your needs.Is your broker independent? Tweet us @TheShepherdGroup