We firmly believe these trends will lead to strong international activity in the coming year, and we are looking to add a select number of exceptional Partner brokers over the next few months to take advantage of the opportunity.
Here are the top six reasons why now is the ideal time to join Globex:

The early bird catches the worm.

Success in times of rapid change requires two traits: the vision to recognize the coming wave, and the resources to take advantage of it. Distracted by the current economic volatility, many brokers still aren’t recognizing the growth opportunity on the horizon, and this gives you the chance to beat your competitors to the punch.

In good times as well as bad, a key component of a successful new business development strategy is strengthening and differentiating your value proposition from your competitors.

Offering and marketing your global capability through Globex is one of the most effective differentiators of all. Multinationals value the ability to address their domestic and international needs through a single resource. Regardless of whether they have an immediate international need, they will perceive this capability as an important benefit of working with you. Positioning yourself as a ‘global broker’ puts you ahead of the pack compared with other regional brokers, and puts you on a level playing field with the likes of Marsh, Aon or Willis.

But advertising your global capability is not just effective with large multinational prospects. It can be equally useful when you are prospecting small or mid-sized clients, even those with no foreign locations. Just positioning yourself as a global broker will give you a higher profile in the marketplace, which can lead to additional prospecting opportunities.

Joining Globex will give you a huge edge over your competitors. You immediately have access to a turnkey international benefits facility that includes a dedicated team of specialists and a network of Partners in more than 130 countries. By adding our global capability to your domestic value proposition, you can offer an unbeatable combination.

Add an arrow to your quiver

When all your competitors are beating on the front door, sometimes it pays to try the back door. Your global capability will enable you to offer a range of international consulting and brokerage services that few competitors can match, and the Globex benefits team routinely participates in joint sales calls or prospect meetings to help explain and sell the capability.

In recent years, companies have aggressively expanded internationally while consolidating more and more control over their worldwide benefits and insurance programs at the home office level. There was a surge in demand for a wide range of international consulting and placement services, including but certainly not limited to:

• M&A due diligence reviews
• Global Risk/Benefits Assessments
• Multinational pooling feasibility studies
• International Directors & Officers (D&O) insurance
• Expatriate medical benchmarking/market studies
• Global program implementation and management
• Local pension actuarial studies
• Local benchmarking/best practices
• Defense Base Act (DBA) coverage for contractors in war zones
• Local placements and advice for start-up operations
• Local RFP/remarketing exercises
• Specialty risk placements (War Risk coverage, International Key Man Life, etc.)

Even in the depressed economic environment of 2008-9, demand for these services remained very high. Demand surged in 2010-11 and we expect to see even more interest in consulting services in the upcoming 18-24 months in light of continuing volatility and uncertainty. Those who are in a position to take advantage of this trend will reap tremendous rewards.

Global Risk/Benefits Assessments

As the saying goes, “When your only tool is a hammer, every problem resembles a nail.” When faced with a multinational client’s demands for help managing their international insurance and benefits costs (the nail), most global brokers will start by going out to obtain quotes (the hammer). In doing so, they miss out on an important opportunity to add real value by identifying tools or strategies that can do much more than just manage costs.

As a Globex Partner, you can offer a better way. Our 11 Step Process starts with a comprehensive global assessment, which puts the client’s current program/plan design in context by helping them understand their local and global exposures, needs and arrangements. A benchmark analysis helps determine whether the levels of coverage are too high or too low. Compliance testing can ensure that the plan satisfies local legal and regulatory requirements. The gap analysis formulates concrete recommendations to achieve the client’s objectives. Taking these early steps can often uncover additional cost reduction opportunities even before the plan is remarketed.

The bottom line is this: Anyone can go out and get quotes. Putting those quotes in context is where you deliver true value. Through Globex you alone have access to this powerful tool.

Outsource your international headaches

Winning a new multinational client can be rewarding, but servicing the international parts of that account can be difficult and time consuming. This is especially true for brokers who try to manage the international account through a “casual network” of foreign brokers. Globex offers a better way. As a Globex Partner, you have access to our dedicated team of international insurance specialists who will work with your team to ensure the foreign placements and servicing are smooth and seamless. This enables you to strengthen your client relationships without investing in additional staff or distracting your producers and account managers.

Diversify your book of business

Worried about U.S. health care reform? Maybe it’s time to diversify your portfolio. Demand for international insurance and benefits services is stronger than ever. Multinationals always need globally capable brokers to advise and assist with their worldwide insurance coverages regardless of the economic climate; in these times of high growth and competition, they will need their broker’s help more than ever. The only things that change are what services these companies need, and who will provide those services.

Through Globex you can add global insurance to your product mix, and this added revenue stream gives you the opportunity to diversify your book of business.

Be prepared

The long-term economic outlook is positive but there will be plenty of ups and downs along the way. Regardless of where we are in the business cycle, change is never very far away. And when the next change comes, fortune will shine most brightly upon those brokers who planned ahead. By partnering with Globex now, you will be in the perfect position to take maximum advantage of the additional business development opportunities that will arise. While others are struggling to build up their own global capability, you will already be there.

Globex Partners are in the perfect position to take advantage of these opportunities. If you’re not a Partner, contact us at 973-541-1144 to learn more about how you can join.