The 2019 Private Client Power Brokers

Jacqueline Altschul
Account Executive Lead
Alliant, New York

Jacqueline Altschul, Account Executive Lead, Alliant Insurance Services

By building deep relationships with her clients and their families, Jacqueline Altschul adds value by often anticipating risk before they do.

While reviewing coverage for a billionaire client from Japan, she noticed he hadn’t appraised his art collection in five years.

A new appraisal was completed, revealing the collection was valued at $145 million, significantly more than the insured value of $37 million.

Another client who manages more than $3 billion in assets for private families and has worked with Altschul for 20 years said she is extremely knowledgeable in both business and personal lines. She helped his clients secure policies for high-value art, apartments, and jewelry, in addition to excess liability umbrellas.

“She understands all of the business and personal aspects. Corporations, LLC, sub chapter S, she does it all. She’ll get you the $10 million or the $25 million excess policies as well,” he said.

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A personal assistant to a high net worth individual with extensive real estate holdings has been working with Altschul since 1998. She credits her growing knowledge in the insurance industry to the broker’s willingness to explain everything.

During annual reviews, Altschul never tries to upsell, even when that comes at the expense of a commission, she said. When a client recently purchased a waterfront property, Altschul was able to have the existing excess flood coverage grandfathered in and transferred to her client, a move that saved $100,000 in premiums.

Kerry Bostwick
Senior Account Executive
Aon, Chicago

Kerry Bostwick, Senior Account Executive, Aon

For many high net worth individuals, having a single point of contact for all personal property and casualty needs can eliminate many headaches. Kerry Bostwick’s mission is to do just that by consulting with clients to negotiate the best pricing and coverage with everything under her guidance.

“She’s like my own personal risk manager,” said the executive assistant to a CEO and high net worth individual with multiple properties and assets scattered across the country. “If it wasn’t for her, I’d be in big trouble.”

The client said Bostwick tells her how things should be insured, offers options and then explains things in detail. When she first started working with Bostwick, they audited the account and found missing pieces, holes and gaps in coverage that should have been covered all along, she said.

They developed such a strong relationship on the executive’s personal coverage that he eventually asked her to also take over his business needs.

Another client, a family office wealth manager, said Bostwick has developed creative risk solutions for everything from property to jewelry collections and artwork.

In one example, Bostwick found a program that combined flood coverage among disparate families and family members on the Florida coast that provided a cost-effective and unique basket of coverage.

“I’d never seen anything like it before … She has been extraordinarily creative in helping us achieve a very efficient and cost-effective program for the various families,” he said.

Traci Crimm
Senior Account Executive
Aon, St. Louis

Traci Crimm, Senior Account Executive, Aon

The solutions Traci Crimm delivers for her private clients tend toward the dramatic. In one instance, a panicked client woke her with the news that their finished basement was flooded.

The family was traveling and the client feared for her two cats and whether they would survice the flood. In the very early hours of the morning, Crimm made a beeline for the home.

She got there before the water restoration company got there, let them in and set about rescuing the cats, also moving whatever valuables she could out of harm’s way. She was able to secure both cats and feed them as the house was restored.

Another client was in Italy, about to rev up one of his collector vehicles for a road rally. But he didn’t have a “Green Card” (international certificate of insurance) and he was going to be shut out if he didn’t get one within the hour.

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Crimm was still 20 minutes from the office. She pulled off the side of the road, powered up her laptop and got to work. Working like a fiend, and pleading for assistance at every turn, she was able to get her contacts at AIG to issue her a policy and a green card for the client, who was still sitting at the gate. She got it done and the client was off motoring into the Italian landscape.

One client had requested a broker change on his account. He switched to Traci Crimm. And he is very happy he did. “She has exceeded all expectations. She’s doing what you would expect, but it’s beyond that. It’s great service, she is very responsive,” the client said.

In other words, she’s a Power Broker®.

Betsy Ellis Clement
Vice President
Gillis, Ellis & Baker Inc., New Orleans

Betsy Ellis Clement, Vice President, Gillis, Ellis & Baker Inc.

Perched below sea level and prone to flooding and hurricanes, New Orleans can be a pricey place for insurance, especially for high net worth individuals.

Identifying a growing need for private client services in the area, Betsy Clement spearheaded the creation of the Personal Life Program at Gillis, Ellis & Baker. She aims to build policies to protect the lifestyles of high net worth clients while minimizing cost through an advanced understanding of underwriting processes at the top carriers.

Two years ago, an executive at a major tech firm started working with Clement when he moved his personal policies to PURE.

Clement helped him increase coverage and address other potential liability issues, in addition to identifying exposure in other financial investments and securing D&O coverage as he and his wife sit on multiple boards.

“She offered a holistic approach to coverage … she’s very proactive in having a knowledge of the types of concerns and issues that high net worth individuals would have,” he said.

When the client’s home was burglarized only six months after transferring the policy, he said Clement was very responsive in bringing in subject matter experts to work with police and to resolve the claim. After the event, she also worked with the insurer to recommend cameras and make recommendations on vendors and placement.

“Her responsiveness to that event was very remarkable and went above and beyond the coverage itself,” he said.

Kashif Khan
Senior Client Advisor, Assistant Vice President
Marsh, Chicago

Kashif Khan, Senior Client Advisor, Assistant Vice President, Marsh

Marsh Private Client Services’ Kashif Khan has often been described as “client obsessed” and is known for being consistently accessible, responsive and proactive on serving his clients’ needs.

The retired CEO of a $5 billion public company, who has sat on multiple corporate boards, said Khan has served him well with his complex needs. With four kids, seven cars, multiple homes in Santa Barbara, Los Angeles and Colorado, and nearly a dozen separate policies, he needed to consolidate.

“I had all this stuff spread out all over the place. Kashif put together the whole package with two companies … He really knows how to use his firm and the right suppliers,” he said.

The CEO said Khan “watches out for what’s best for the client,” not just what’s good for him or the insurance companies. He ultimately referred two other people, his brother and another retired CEO, to Khan.

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“Everyone is good at selling you something. No one’s very good at actually doing it, making it happen and responding as you go along. He’s very good with that,” he said.

Another client, a partner in an RIA and comprehensive advisory firm that manages $700 million, noted Khan’s “initiative to get things done.” In one recent example, he put together a proposal and implemented a plan for a client with different ownership entities, multiple houses, vehicles and watercraft in three states.

“He does not come across like he’s trying to sell them something, which is extremely important to these clients. They do not want to be sold,” he said.

Sheneen Nicholson, CPCU, API
Assistant Vice President
Alliant, New York

Sheneen Nicholson, Assistant Vice President, Alliant Insurance Services

Sheneen Nicholson believes continuing education for herself, and her clients, is the key to helping high net worth individuals gauge risk and sort through complex policies.

She regularly attends seminars and risk management groups and stays up to date with the latest federal updates through agencies such as FEMA.

“There are policies I don’t even understand, and she had a great book prepared. We went over what we could do better, found some deductibles that needed to be increased and lowered some premiums,” a client said.

Nicholson found a creative solution for another client by working with underwriters to deliver a tailored program for a $100 million jewelry collection. She restructured the policy, taking into consideration the specifics of the location and security provided, a move that ultimately saved the client 40 percent annually on premiums.

An assistant to a professional athlete who has multiple properties and vehicles said Nicholson has a “magic combination” of knowledge, efficiency and responsiveness while always anticipating her boss’s future needs.

When his home was broken into, Nicholson walked the assistant through the entire process from beginning to end to file and settle the claim.

“I know she has his back. She extends compassion and in-depth knowledge … I truly could not have done this without her,” she said.

The complete list of 2019 Power Broker® winners can be found here.

 Finalists:

Linda Byford, CPRIA
Sr. Private Client Advisor
HUB International, Santa Fe

Adrianna Cardinal
Client Advisor
Marsh, Norwalk, Conn.

Cecilia Graveran, CPRIA, AAI, ACA, API, AIS, AINS
Producer
Aon, Miami

Mark Jagor, AAI
Assistant Vice President
Gallagher, Atlanta

Melody McCallister, CISR, API, AIS
Senior Client Advisor/Wice President
Marsh, Chicago

More from Risk & Insurance

More from Risk & Insurance

4 Companies That Rocked It by Treating Injured Workers as Equals; Not Adversaries

The 2018 Teddy Award winners built their programs around people, not claims, and offer proof that a worker-centric approach is a smarter way to operate.
By: | October 30, 2018 • 3 min read

Across the workers’ compensation industry, the concept of a worker advocacy model has been around for a while, but has only seen notable adoption in recent years.

Even among those not adopting a formal advocacy approach, mindsets are shifting. Formerly claims-centric programs are becoming worker-centric and it’s a win all around: better outcomes; greater productivity; safer, healthier employees and a stronger bottom line.

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That’s what you’ll see in this month’s issue of Risk & Insurance® when you read the profiles of the four recipients of the 2018 Theodore Roosevelt Workers’ Compensation and Disability Management Award, sponsored by PMA Companies. These four programs put workers front and center in everything they do.

“We were focused on building up a program with an eye on our partner experience. Cost was at the bottom of the list. Doing a better job by our partners was at the top,” said Steve Legg, director of risk management for Starbucks.

Starbucks put claims reporting in the hands of its partners, an exemplary act of trust. The coffee company also put itself in workers’ shoes to identify and remove points of friction.

That led to a call center run by Starbucks’ TPA and a dedicated telephonic case management team so that partners can speak to a live person without the frustration of ‘phone tag’ and unanswered questions.

“We were focused on building up a program with an eye on our partner experience. Cost was at the bottom of the list. Doing a better job by our partners was at the top.” — Steve Legg, director of risk management, Starbucks

Starbucks also implemented direct deposit for lost-time pay, eliminating stressful wait times for injured partners, and allowing them to focus on healing.

For Starbucks, as for all of the 2018 Teddy Award winners, the approach is netting measurable results. With higher partner satisfaction, it has seen a 50 percent decrease in litigation.

Teddy winner Main Line Health (MLH) adopted worker advocacy in a way that goes far beyond claims.

Employees who identify and report safety hazards can take credit for their actions by sending out a formal “Employee Safety Message” to nearly 11,000 mailboxes across the organization.

“The recognition is pretty cool,” said Steve Besack, system director, claims management and workers’ compensation for the health system.

MLH also takes a non-adversarial approach to workers with repeat injuries, seeing them as a resource for identifying areas of improvement.

“When you look at ‘repeat offenders’ in an unconventional way, they’re a great asset to the program, not a liability,” said Mike Miller, manager, workers’ compensation and employee safety for MLH.

Teddy winner Monmouth County, N.J. utilizes high-tech motion capture technology to reduce the chance of placing new hires in jobs that are likely to hurt them.

Monmouth County also adopted numerous wellness initiatives that help workers manage their weight and improve their wellbeing overall.

“You should see the looks on their faces when their cholesterol is down, they’ve lost weight and their blood sugar is better. We’ve had people lose 30 and 40 pounds,” said William McGuane, the county’s manager of benefits and workers’ compensation.

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Do these sound like minor program elements? The math says otherwise: Claims severity has plunged from $5.5 million in 2009 to $1.3 million in 2017.

At the University of Pennsylvania, putting workers first means getting out from behind the desk and finding out what each one of them is tasked with, day in, day out — and looking for ways to make each of those tasks safer.

Regular observations across the sprawling campus have resulted in a phenomenal number of process and equipment changes that seem simple on their own, but in combination have created a substantially safer, healthier campus and improved employee morale.

UPenn’s workers’ comp costs, in the seven-digit figures in 2009, have been virtually cut in half.

Risk & Insurance® is proud to honor the work of these four organizations. We hope their stories inspire other organizations to be true partners with the employees they depend on. &

Michelle Kerr is associate editor of Risk & Insurance. She can be reached at [email protected]