Aug 10 2023
146: Mastering Insurance with Micah Mattox
Stop Guessing! Learn About Real Estate Insurance Now! In this episode, Micah Mattox, the founder of Real Protect Insurance, offers valuable insights into the insurance landscape in the context of real estate investment. He delves into the challenges the insurance market faces, particularly in states like Florida and Texas, due to losses, fraud, and shifting dynamics, emphasizing the importance of staying informed about insurance market trends and adapting to changes. Micah explores the access independent agencies have to carriers and the necessity of understanding real estate operations for effective property insurance. The discussion also extends to risk zones, legislative reforms, and the pivotal role of communication in the industry. Finally, he introduces Real Protect's innovative approach, leveraging relationships and tailored solutions to meet clients' diverse needs. Learn more about ALTERNATIVE BUSINESS and INVESTMENT STRATEGIES through QUATTRO CAPITAL! LinkedIn: /TeamQuattroCapitalInstagram: @TeamQuattroCapitalFacebook: @TeamQuattroCapitalWebsite: www.TheQuattroWay.com TikTok:@realestaterunwaypodcast [00:00 - 07:32] Insights into the Insurance Industry: Challenges, Fraud, and Expertise with Micah Mattox Chad features special guest Micah Mattox, an insurance specialist from Real Protect InsuranceFrom personal to commercial insurance, Micah's transition offers insights into contracts and legal aspects, adding a unique angle to his expertiseWith Florida driving 77% of U.S. insurance fraud, Micah delves into its causes and implications, highlighting his industry proficiencyIn the worst market in 40 years, Micah and Chad dissect losses, fraud, and reinsurers' roles, illuminating industry intricacies [07:33 - 15:13] Real Protect's Reach, Relationships, and Solutions Micah highlights Real Protect's unparalleled reach with a network of 400 carriers, enabling customized solutions for clientsHe draws parallels between insurance and real estate, emphasizing the importance of personal relationships in securing favorable termsDelving into high-risk areas, Micah identifies regions facing insurance turmoil, such as parts of Florida, Texas, and Louisiana, exploring potential legislative reforms and complex solutionsMicah outlines Real Protect's multi-faceted approach to assisting clients, including leveraging marketplace relationships, utilizing pool programs, and crafting specialized insurance solutions [15:14 - 23:41] Philanthropy and Property Management Micah's superpower of clear communication shines through in both personal and business interactionsHis biggest business mistake was not learning the other parts of the marketplace soon enoughMicah's philanthropic involvement with the Junior Chamber of Commerce, aiding underprivileged students and mentoring at-risk youthMicah offers practical advice for property owners to boost insurability, from maintaining updated systems to curb appeal and disaster preparedness Quote: "Insurance is relational just as much as real estate is something that you and all the investors listening are doing day in and day out just managing those relationships. We do the same thing. It is relational in that I'll use a company everybody knows or a carrier everybody knows travelers." - Micah Mattox Connect with Micah through LinkedIn, Facebook, or visit http://realprotect.com LEAVE A 5-STAR REVIEW + help someone who wants to explode their business growth by sharing this episode. Find out how Team Quattro can help you by visiting www.TheQuattroWay.com. Real Estate Runway Podcast is all about alternative business and investment strategies to help you amplify life, and maximize wealth! Click here to find out more about the host, Chad Sutton. Quattro Capital invites you to join Agora: Don't miss out on the opportunity to experience the forefront of investment management technology with Quattro Capital. Join Agora and schedule a demo to see our all-in-one investment management tool in action. As a bonus, enjoy Quattro's Promotion 10% discount on Yearly Subscription and Onboarding Priority! Our platform includes a powerful CRM, market-leading investor portal, and a fundraising tool that makes it easier to raise capital for new offerings. With our collaborative space, you can ensure transparency with investors and make reporting more accessible than ever before. Click here to schedule your demo and claim your discount today! Entity Keeper: Join the EntityKeeper community today to simplify the way you manage your entities and org charts while reducing manual errors. Easily organize corporate data, visualize ownership structures, store unlimited documents, and manage important filing dates with one secure solution. Click here to start simplifying your entity management with EntityKeeper now!