Reason Mag Q1 2014 Seite 18

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As a specialist insurer FM Global is fully committed to helping its client owners reduce loss and increase the resilience of their business and to providing them with a stable long term platform for transferring risk The success of our mutual business model depends upon the close working rela tionships we form with clients and brokers Because the majority of our policyholders choose to work with brokers they are an important constituency and respected strate gic partners We interact on a daily basis with hundreds of brokers around the world Brokered clients expect us to work with their chosen broker as a concerted team When it comes to delivering value to our mutual The ratio of brokered clients to direct clients is one that has held steady for many years It is a natural balance that reflects individual client needs and preferences insureds our fates are intertwined brokers are as integral to our success as we are to theirs Once someone learns that FM Global writes business both directly and through intermediaries they often ask us which we prefer But the truth is we don t have a pref erence Every client is different but bro kered or direct each of our mutual clients has an equal ownership stake in FM Global We are governed by a board of directors comprised of both direct and brokered cli ents As a result we don t favor one channel at the expense of the other nor do we offer special deals favorable pricing or exclusive coverage and services to one or the other 22 20 YEARS 65 10 YEARS 1 3 DIRECT 2 3 BROKERED FM Global insures many of the world s largest most sophisticated and demanding clients Our business model is powered by the loss prevention partnerships we form which tend to deliver their greatest bene t over time As a result we are fortunate to enjoy some of the longest lived working relationships in the industry the average tenure of an FM Global client is 14 years Interestingly the client s choice of deliv ery doesn t seem to have a strong bearing on that tenure or long term value clients derive When it comes to loss prevention brokered clients are every bit as committed to loss prevention as direct clients The ratio of brokered clients to direct clients is one that has held steady for many years It is a natural balance that re ects individual client needs and preferences The fact that two thirds of FM Global s mutual business is produced through bro kers makes it undeniable Dual delivery is an essential freedom of choice for client owners To support this strategy the broker relations department was created to ensure commitment to our brokers worldwide and allow consistent engagement with them at the local regional and corporate level Randy Schreitmueller is vice president manager broker relations for FM Global CLIENT RETENTION The majority of our clients have been with us for more than 10 years and nearly one third have insured with FM Global for 20 years or more Two thirds of FM Global s mutual business is produced through brokers 18 Reason ISSUE 1 2014 the IDEA