Quick Tips for Navigating the Insurance Marketplace

Written by: John Burkhalter, Vice President at AssuredPartners Colorado


The insurance marketplace can be confusing and counterintuitive. To help make sense of the confusion, I’ve put together a quick list of tips to help make the process a bit easier to navigate.


Find a SPECIALIST in your industry to be your Broker.

  • If you are trusting someone to protect your company by placing appropriate insurance products, they should demonstrate that they understand the work you do and the risks you face.
  • Research potential Brokers: Review their LinkedIn account and Website, ask for Referrals, and interview them.


Experiment with deductibles and ask your broker to perform loss modeling to determine how your E-MOD will respond.

  • If your state is a Net Reporting state, like Colorado, this can cause drastic changes to your risk profile.
  • Depending on the size and complexity of your business, ask for creative options for insurance structuring, including recommendations and accompanying explanations.


Determine if your company is eligible for insurance discounts that are available in many states, usually based on implementation of “Best Practices” and safety programs.


Broker Selection is more important and impactful than Marketing.

  • Choosing an insurance Broker you trust and having only them leverage insurance carriers/markets is a far more effective way to ensure competitive pricing and coverage.
  • The “Red Ocean Effect” is created by a marketing blitz, where insurance markets see numerous Brokers “blasting” submissions for the same company.  Markets are much more competitive in controlled and intentional processes, which puts the purchaser at an advantage.


Ultimately, insurance is a tool that, when used correctly, protects your company’s balance sheet and ensures business continuity.  The partner you choose to provide these services and products should earn your business through expertise and be allowed to use all outlets available to put your company at a competitive advantage.