In a shaky economy, budgets are tight. Premiums feel like they’re squeezing from all sides.
And yet—your job as a risk advisor isn’t to slash coverage and hope for the best.
It’s to lead with empathy… and clarity.
This isn’t the season for transactional renewals and bids. This is the season for relational ones.
When you regularly check in and ask how the economy is impacting their business, you're not just making small talk—you're opening the door to insight.
Ask:
“How’s the economy hitting you right now?”
“Any changes in your operation this quarter?”
“What’s keeping you up at night?”
Because when you ask, you uncover risk. And when you care, you stand out.
Prioritize with the Risk Decision Matrix
One of the biggest disconnects right now? Clients want to keep premiums flat—while costs are going up. That creates natural tension. But here’s how you guide them through it:
Lead with a risk strategy conversation, and walk them through the Risk Decision Matrix:
- Avoid – “Is there a risk you could eliminate entirely? Maybe a building or process that no longer adds value?”
- Retain – “Are there smaller risks your business is healthy enough to self-fund?”
- Mitigate – “Can we reduce the likelihood or impact with better safety practices or upgrades?”
- Transfer – “What risks would cripple your business if they’re not insured?”
You’re not forcing decisions. You’re helping them think clearly.
Example: The bakery with one central production facility. “Don’t touch the bakery on 4th Street. That’s where all the bread gets made.”
Even if they own three storefronts, it's that one facility with the ovens, mixers, and walk-in freezers that keeps the business running. They may be willing to reduce coverage on auxiliary buildings, but they’ll increase coverage on the production hub once they understand the risk,
You become more than an agent. You become the only person helping them protect what keeps them alive.
Empathy Is Your Edge
You don’t win by having the lowest quote. You win by knowing their story. It’s how you catch gaps in business income coverage. It’s how you uncover missing cyber liability exposure. It’s how you protect the people and places that matter most—not just the spreadsheet.
Action Step:
This week, call three clients. No pitch. Just ask how the economy is treating them. Listen. If appropriate, walk them through the matrix.
Because in this market, empathy plus strategy = trust. And trust is the only coverage your competitor can’t undercut.