Lockton Broker Kyle Sliwerski Recognized as a 2019 Retail Power Broker
Kyle Sliwerski, Senior Vice President, Lockton Companies
A major U.S. motor trader has traditionally carried several open-lot policies covering its dealerships, each written on a 100 percent single carrier basis and placed with a different market.
“Given the heavy losses this sector has seen over recent years, improvements to these programs would be difficult in both pricing and terms,” noted Mike Andler, property practice leader at Lockton Companies.
Nonetheless, colleague Kyle Sliwerski and his team rolled up their sleeves and got to work. Sliwerski employed Lockton’s analytics team to perform predicative analytics with RMS/AIR and an exhaustive loss analysis drilled down to help assess CAT limits.
The next challenge was to consolidate these programs into one master placement.
“After approaching more than 125 markets, we actually ended up being overlined in capacity — impressive considering the lack of generally available capital in this space,” added Andler.
Moreover, in a harder market, Sliwerski managed to minimize the impact on pricing and terms by signing markets from the U.S., UK, Bermuda and elsewhere to a large shared and layered program. The dealership now has leverage back on its side and is well primed to embark on captive development and/or a large self-insured retention.
The insurance and claims manager for a corporate client said: “Kyle provided detailed analytics during our pre-renewal strategy meeting that showed concentration of risk of our [earthquake and flood] exposures. This information helped determine appropriate limits and deductibles and assisted us with making decisions on future real estate endeavors.”
What is a Power Broker?
A Risk & Insurance Power Broker® is an individual who stands out among their peers for the exceptional client work they delivered over the past year. While brokers play many key roles in the insurance industry and risk profession, a Power Broker® award recognizes problem solving, customer service and industry knowledge.
Our goal is to broadly recognize and promote outstanding risk management and customer service among the brokerage community.
Who selects the winners?
Power Brokers are selected by Risk Managers based on the strength of the testimonials they provide to a team of 15 Risk & Insurance editors and writers.