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... Are Racetracks Sustainable?4/30/2013 10:42:47 PM by CompleteMarkets Editor , Michael Manes This content has not been rated yet. ARE RACETRACKS SUSTAINABLE? by Mike Manes Although Insurance middlemen continue to do well, the landscape has already changed. If the industry doesn't adjust now brokerages will fall behind. In a recent article, I compared insurance producers and production to racehorses and horse races. Let's continue with this metaphor and ask a few more questions worth considering, regardless of your role in the insurance industry. Is your "racetrack" sustainable? Is there a better way? In the future, will the people (niches) you serve still spend time and money at your "clubhouse" or "betting window?" Horseracing might be the sport of kings, ... you more, but Mr. Levitt does it far better than me. I urge you to read his article. Here's reality: Most firms in the manufacturing and distribution end of the insurance business have done and continue to do well – very well. We aren't motivated to change. For us, the good old days mean two old white guys (OWG) drinking at the City Club and doing a deal. Our system is producer defined and producer driven. We sell products that include our compensation packaged inside. These products "cover" the risk of loss from physical peril – the stuff we know and understand. Unfortunately, the product is a promise to pay in the future for losses that most buyers can't understand in a language that they don't know .. ...

...ce producers and production to racehorses and horse races. Let’s continue with this...1; or “betting window?” Horseracing might be the sport of kings,...