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  • Writer's pictureChris Burand

Why People Make Poor Decisions

An analysis of a U.S. intelligence operation failure concluded a key cause of that failure was, "We all have this tendency to look for information that confirms our beliefs and to ignore what conflicts with them. It's very hard to give somebody information he doesn't want to hear, and the more senior they are, the worse it is." --Peter Sichel

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This is another way of saying, "Don't tell the emperor they are not wearing any clothes."

The insurance industry is at the cusp of dramatic change. Some days I am depressed when I see another announcement or article touting vaporware as the great solution. Or when I see some sales guru pushing a sales strategy that leaves consumers with worse coverage and increases agencies' E&O exposures. Or when I see consultants selling solutions that make agents' situations worse, not better, but agents will not know the difference until it is too late.

In every single case, these entities are telling agents, carriers, investors, and the public what they want to hear. They are confirming beliefs and ignoring contradictions.

On other days, like yesterday, a client emailed me with huge success stories based on actually solving problems for clients and how the clients had coverage they otherwise would not have possessed had my client not provided great advice in a manner where the client listened. I live for those stories because, like all humans, I want to hear stories that confirm my belief that agents and brokers who truly care about clients can make a huge difference in their lives. As another saying goes, "You always know who your real friends are when times get really tough." No one needs an agent when times are good, except to sell them the right coverages and advice for when times are bad.

I live to make life better for my clients and their clients. It is what gets me up in the morning. Every day, I see potential clients being led down the primrose path of siren delivered messages, and I wonder if there is anything I could say or write that would have saved them.

In full disclosure then, I love to work with people in the insurance world who desire to make a major difference in their clients' lives, their employees' lives, and their agency/brokerage and are willing to focus on the tasks, ignoring the shiny silver lures and toys so appealing to people. I love to work with people determined to make the world a better place through true, practical, real world risk management and insurance. A world that will abide by rebating and licensing rules. A world that will acknowledge E&O exposures. A world that will engage with clients deeply.

If you are in the insurance world in any capacity and are willing to do the hard work to win, and by winning, I mean doing the hard work to make the world a better place for your clients, your employees, your organization, contact me. I'd love to work with you.

I'll close with one of my favorite life quotes:

"The will to win is not nearly as important as the will to prepare to win. Everyone wants to win but not everyone wants to prepare to win. Preparing to win is where the determination that you will win is made. Once the game or test or project is underway, it is too late to prepare to win. The actual game, test or project is just the end of a long process of getting ready, in which the outcome was really determined. So, if you want to win, you must want to prepare to win. Once you prepare to win, winning is almost anti climatic." --Bobby Knight


NOTE: The information provided herein is intended for educational and informational purposes only and it represents only the views of the authors. It is not a recommendation that a particular course of action be followed. Burand & Associates, LLC and Chris Burand assume, and will have, no responsibility for liability or damage which may result from the use of any of this information.

None of the materials in this article should be construed as offering legal advice, and the specific advice of legal counsel is recommended before acting on any matter discussed in this article. Regulated individuals/entities should also ensure that they comply with all applicable laws, rules, and regulations.

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