--- title: "The New Risk Manager’s Playbook, Part 3: Navigating Legacy Broker & Vendor Relationships" description: Learn how to evaluate and realign legacy broker and vendor relationships to ensure strategic partnerships that drive business value for your risk management program. image: https://www.aclaimant.com/hubfs/Gemini_Generated_Image_dmrzjjdmrzjjdmrz.jpeg --- ** [![aclaimant-logo-1](https://www.aclaimant.com/hs-fs/hubfs/aclaimant-logo-1.png?width=192&height=41&name=aclaimant-logo-1.png "aclaimant-logo-1")](https://www.aclaimant.com) [![Schedule a Demo](https://no-cache.hubspot.com/cta/default/3334390/interactive-168996984711.png) ](https://www.aclaimant.com/hs/cta/wi/redirect?encryptedPayload=AVxigLK6jFDvne%2Ba4MwZ8FtHAOPz98%2FA8tuvyvcvTlrA5ET8RaTb1AsPfCSludopm%2Bm2O5hlVmymvGXpXWG1W8FnV8AlYyykVUGxjc5%2Bsy262%2FyizfGfImfXtI2pKc0gpuSeaP%2Fyxy6a9phZ%2FpM8Ep0FKMeRz2zZ6zNk8WL1teHoYyZZwcTalQ99i3pQvg%3D%3D&webInteractiveContentId=168996984711&portalId=3334390) # The New Risk Manager’s Playbook, Part 3: Navigating Legacy Broker & Vendor Relationships By Aclaimant Feb 24, 2026 In Part 2 of our series, we tackled the technical challenge of demystifying your data stack. But as any experienced risk professional knows, the hardest challenges in a new role aren’t usually technical—they are interpersonal. [(Read Part 2 here)](https://www.aclaimant.com/blog/the-new-risk-managers-playbook-part-2-demystifying-your-data-tech-stack) Today, we are focusing on Priority #4 from our original playbook: **Evaluating Your Partners and Vendors.** Navigating historical relationships can be incredibly tricky. You might walk into an organization and find that the incumbent broker, Third-Party Administrator (TPA), or safety consultant has been in place for a decade or more. Consider this: Industry benchmarks suggest that **nearly 70% of organizations remain with their incumbent broker out of convenience or historical ties, rather than measurable performance.** Sometimes these legacy partners are amazing; sometimes they are coasting on institutional inertia. As the new risk manager on the hook for results, here is how you can evaluate, navigate, and realign these critical relationships. ### The "Golf Buddy" vs. The Strategic Partner When assessing long-standing vendor relationships, you will often run into the "Golf Buddy" syndrome. The previous risk manager or the current CFO might have a deep, friendly relationship with the broker. While rapport is great, your job is to ensure that the partnership is driving actual business value. You need to politely but firmly shift the relationship from a legacy friendship to a strategic partnership aligned with *your* new goals. ### Step 1: Request a Clean-Slate Stewardship Meeting Don't wait for renewal season to evaluate your partners. Within your first 60 days, schedule a dedicated meeting with your brokers, TPAs, and key vendors. **Ask them to come prepared with:** - A 3-year historical review of your program’s performance. - Their candid assessment of where your organization’s risk profile is weakest. - The specific resources they have that your organization is *not* currently utilizing. (Studies show that **up to 40% of bundled vendor services, such as dedicated loss control hours or training libraries, go completely unused** by policyholders). This meeting sets a new tone. It shows you are actively managing the program, not just rubber-stamping the status quo. ### Step 2: Audit the SLAs (Service Level Agreements) Friendly relationships often lead to relaxed standards. Dive into the actual contracts and SLAs with your TPA and other service providers. - Are they meeting their contact timelines for new claims? - What is their closing ratio? - Are they fighting for you on reserving practices? Active TPA management is not just busywork. **Enforcing strict SLAs and implementing aggressive claims closure strategies can reduce overall claim costs by 10% to 15%.** If the data shows they are underperforming, you now have objective metrics to guide a constructive, business-focused conversation, removing the emotion from the legacy relationship. ### Step 3: Re-align or Re-market Once you have evaluated your partners, you have two choices: 1. **Re-align:** If the partner is capable but has been operating on autopilot, present your new vision. Outline new KPIs and expectations. ***A good partner will be thrilled to work with an engaged risk manager.*** 2. **Re-market:** If the partner is defensive, lacks the resources you need, or is fundamentally misaligned with your strategic goals, it may be time to issue an RFP. Change is hard, but keeping a poor partner because "it's how we've always done it" is a guaranteed way to stall your program's evolution. --- ### Frequently Asked Questions (FAQ) **How often should a risk manager RFP their insurance broker or TPA?** Best practices dictate that an organization should formally evaluate or RFP (Request for Proposal) their insurance broker and TPA every 3 to 5 years. However, a new risk manager should conduct a thorough performance audit within their first 90 days to determine if an off-cycle RFP is necessary to align with new strategic goals. **What are the key KPIs for evaluating a TPA in risk management?** When evaluating a Third-Party Administrator (TPA), risk managers should focus on KPIs such as average days to close a claim, three-point contact compliance (contacting the employer, employee, and medical provider within 24-48 hours), litigation rates, average cost per claim, and the accuracy of initial reserving. **How do you transition away from a legacy broker relationship?** Transitioning from a legacy broker requires a data-driven approach. Start by auditing current SLAs and service gaps. Present these objective findings to executive leadership to secure buy-in. When ending the relationship, maintain professionalism, provide clear reasons based on strategic business needs (e.g., needing advanced RMIS tech integration or global market reach), and establish a clear transition timeline to avoid gaps in coverage.     ## Stay Connected with Aclaimant Subscribe to receive updates on blog posts and news. 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