Agency Intelligence

Agency Intelligence

AI Podcast Network is your top insurance podcast network with many unique series that let you hear from both agency owners and industry influencers. Learn from real agents in real agencies, get the latest and greatest that thought leaders in the industry have to offer, and more!

Start Here
Agency Freedom: E64: Andrew Correll on Scoring Your Security
Today
Agency Freedom: E64: Andrew Correll on Scoring Your Security
In this episode of Agency Freedom Podcast, James talks with Andrew Correll, Director of Insurance Solutions with Security Scorecard. Episode Highlights: Andrew mentions that he began his career in the insurance market 10 years ago, mostly handling cyber insurance underwriting for technology and life sciences companies. (5:14) Andrew believes that it's up to all of us to learn the ins and outs of what we do, instead of just trying to sell a product to anyone who picks up the phone. (11:38) Andrew talks about where things are now with cyber insurance and data breach protection. (15:08) Andrew believes that the Security Scorecards platform was really made for Chief Information Security Officers (CISOs) and vendor risk managers. (24:33) Andrew discusses how the level of connection they want to have with clients is one of the major value additions from a security scorecard standpoint. (29:20) James explains how he starts putting together his cyber submissions, whether for a new customer or a renewal. (34:57) Andrew mentions that if you monitor your book of business throughout the course of a policy term, you'll have some great opportunities to create a strong connection. (38:53) As someone who will be selling cyber insurance, Andrew encourages everyone to adopt a "just enough to be dangerous" mentality and knowledge base when it comes to cyber. (51:27) Andrew discusses why it is important to build a connection and partnership with a local MSP. (54:32) Key Quotes: “It's incumbent upon all of us to kind of learn the ins and outs of what it is we're doing, versus just trying to sell a product to anyone who's going to pick up the phone. When you start getting away from the transactional approach and going into a relationship approach.” - Andrew Correll “In the cyber insurance market, we're utilizing a security scorecard as a way to kind of systematize part of your underwriting.” - Andrew Correll “If you're monitoring your book of business over the course of a policy period, you're going to have some really good opportunities to build a solid relationship.” - Andrew Correll Resources Mentioned: To learn more about Security Scorecard, visit their website at www.securityscorecard.com. -- Visit our website to join our email list, get the scoop on our LIVE coaching calls and never miss an episode: with Agency Freedom Podcast on Facebook at the Agency Freedom Podcast group: us at podcast@agencyfreedom.com with ideas, questions, complaints or your favorite grilling recipe.
Agency Freedom: E64: Andrew Correll on Scoring Your Security
Today
Agency Freedom: E64: Andrew Correll on Scoring Your Security
In this episode of Agency Freedom Podcast, James talks with Andrew Correll, Director of Insurance Solutions with Security Scorecard. Episode Highlights: Andrew mentions that he began his career in the insurance market 10 years ago, mostly handling cyber insurance underwriting for technology and life sciences companies. (5:14) Andrew believes that it's up to all of us to learn the ins and outs of what we do, instead of just trying to sell a product to anyone who picks up the phone. (11:38) Andrew talks about where things are now with cyber insurance and data breach protection. (15:08) Andrew believes that the Security Scorecards platform was really made for Chief Information Security Officers (CISOs) and vendor risk managers. (24:33) Andrew discusses how the level of connection they want to have with clients is one of the major value additions from a security scorecard standpoint. (29:20) James explains how he starts putting together his cyber submissions, whether for a new customer or a renewal. (34:57) Andrew mentions that if you monitor your book of business throughout the course of a policy term, you'll have some great opportunities to create a strong connection. (38:53) As someone who will be selling cyber insurance, Andrew encourages everyone to adopt a "just enough to be dangerous" mentality and knowledge base when it comes to cyber. (51:27) Andrew discusses why it is important to build a connection and partnership with a local MSP. (54:32) Key Quotes: “It's incumbent upon all of us to kind of learn the ins and outs of what it is we're doing, versus just trying to sell a product to anyone who's going to pick up the phone. When you start getting away from the transactional approach and going into a relationship approach.” - Andrew Correll “In the cyber insurance market, we're utilizing a security scorecard as a way to kind of systematize part of your underwriting.” - Andrew Correll “If you're monitoring your book of business over the course of a policy period, you're going to have some really good opportunities to build a solid relationship.” - Andrew Correll Resources Mentioned: To learn more about Security Scorecard, visit their website at www.securityscorecard.com. -- Visit our website to join our email list, get the scoop on our LIVE coaching calls and never miss an episode: with Agency Freedom Podcast on Facebook at the Agency Freedom Podcast group: us at podcast@agencyfreedom.com with ideas, questions, complaints or your favorite grilling recipe.
Power Producers: The MacDonald Sessions 1
Today
Power Producers: The MacDonald Sessions 1
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Peter MacDonald, Co-Founder & CEO of Wunderite for Part 1 of a six-part series called "The MacDonald Sessions." They discuss the gap analysis and the reasons why it plays such an important role for producers. Episode Highlights: David shares why he likes interviewing people who were once agents turned InsurTech guys, because they don't forget what they did as agents. (2:25) Peter explains why it is never beneficial to do free work for people who are never going to buy from you. (5:29) Peter breaks down how he used to do a gap analysis with winning the account and Broker of Record. (9:18) David shares that you should know everything that the person you're meeting with is tied to, both as an entity and as an individual. (13:05) Peter shares that his most extensive account ever closed as a result of uncovering something missing from the umbrella was $200k. (16:37) Peter shares how he uncovered and talked about savings and overspending with his clients. (21:13) Peter talks about ordinances or laws requiring people to do something to their homes that they do not want to. (26:36) Peter shares how he would communicate with his clients without overwhelming them with too much information. (30:36) Tweetable Quotes: "What we're trying to do here in this gap analysis is not necessarily fix all the problems at once, right? Because you're probably not going to be able to do that, but it's just about all the things you can start to create pain about." - Peter MacDonald "You're trying to create a cumulative effect of all this stuff that you can point to, like, why are there so many mistakes? The number one place to start is named insured." - Peter MacDonald "What I don't want you to hear if you're listening to this is to do free work for people who are never going to buy from you. Like, that's what you don't want to do. You don't want to be stuck in a spot where you're like a net, analyzing people's risks." - Peter MacDonald Resources Mentioned: Peter MacDonald LinkedIn Wunderite David Carothers Kyle Houck Florida Risk Partners The Extra 2 Minutes
RHS 154 - How to Overcome Your Fear and Dominate Inbound Lead Generation
Yesterday
RHS 154 - How to Overcome Your Fear and Dominate Inbound Lead Generation
In this episode of The Ryan Hanley Show, Ryan Hanley breaks down how the best content creators in the world overcome their fear and dominate inbound lead generation. Don't miss it! Episode Highlights: Ryan discusses some of the key points of Ryan Holiday's book, The Obstacle Is the Way (5:15) Ryan explains how we can use fear as a signal to take action on the work that needs to be done. (8:54) Ryan discusses what would happen if he let fear prevent him from recording a solo episode. (11:51) Ryan believes we never know which content will be a hit, but we can generate more the next day, because it’s about releasing material and letting the market decide. (17:41) Ryan mentions he'll keep creating content, educating, and helping people with insurance problems because he doesn't know which videos are good and which are bad. (22:56) Ryan explains how he answers every question on their YouTube channel's comment section since he has no clue which response to which inquiry may lead to someone contacting him and doing business. (25:06) Ryan goes over several techniques for creating video material. (30:47) Ryan reminds us that we must not allow our fear to prevent us from fulfilling the duties we have set out to complete. (38:58) Key Quotes: “We can allow fear, false evidence appearing real, we can allow our perception of what might happen if we take a certain action keep us from doing that action. Or, we can use that fear as a signal. We can use it as a compass point, we can use it as our North Star for what needs to be done the work that needs to be done.” - Ryan Hanley “It's not about which piece of content wins. It's about putting the content out there and allowing the market to choose.” - Ryan Hanley “I will keep creating content, I'll keep educating, I will keep bringing value to people who have questions about insurance.” - Ryan Hanley Resources Mentioned: Reach out to Ryan Hanley
Millionaire Insurance Producer: How to Be the Best
Yesterday
Millionaire Insurance Producer: How to Be the Best
You don't have to be the "best" insurance agent out there. (Please, read that again!) There are literally tens of thousands of insurance agents out there who prospect in your very own geographic territory. You don't need to be the best out of all of them. In fact, all you have to be is the better CHOICE of whichever agent the prospect is using to get quotes on their behalf for that renewal. That's it.  In this episode of the Millionaire Insurance Producer podcast, host Charles Specht explains how you can get your prospect to perceive you as the best CHOICE out of three agents, and fire their current agent in order to hire you! Episode Highlights: Charles shares that in any line of business, you do not have to be the best, but remember that you are unique. (2:10) Charles explains that the main struggle that most agents have, regardless of whether they are new or experienced, is mindset. (4:30) Charles discusses that there are a lot of agents that are also contacting your clients and prospects, and you do not have to be better than those agents. (9:15) Charles shares that you only have to be better than a handful of other agents that are your competitors. (12:43) Charles explains that the strongest position for you to be in is to be the best option based on who your prospects are meeting with. (17:59) Charles explains that if you create a strategy and do it right, you will be able to eliminate the other competing agents. (20:26) Charles elaborates on forcing your thinking to be positive, telling yourself that there is no reason why prospects should pick other agents other than yourself. (23:35) Charles shares the new things that will be coming in for 12x Mastermind, as well as putting together actual microniches for exclusive members. (27:43) Key Quotes: "I just want to tell you that there are a lot of agents out there who are calling on not only your own clients but your prospects' lot. You don't even have to be better than those 100." - Charles Specht "I know how to make super producers. And so what I'm doing now is I'm taking that information and I'm going to be bringing it down now to an exclusive few those who become members of my 12x Mastermind."- Charles Specht "You don't have to be the best insurance agents that's out there. You just have to be the best choice for whichever prospect you're talking about." - Charles Specht Resources Mentioned: Reach out to Charles Specht Permission Network Insurance Agency, Inc.
Power Producers: Getting Innovative with Workers' Comp with Carrie Cheeks
2d ago
Power Producers: Getting Innovative with Workers' Comp with Carrie Cheeks
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Carrie Cheeks, Southeast Territory Manager at Risk Innovations. Carrie shares how Risk Innovations assists agents in providing their insureds with workers' compensation coverage. Episode Highlights: Carrie shares her background and mentions that this is her first corporate job since college. (3:59) Carrie describes what Risk Innovations is all about and what her role is in the company. (5:18) Carrie explains that they serve various types of agencies and can write a $300 policy to a $10 million policy. (7:17) Carrie shares that they have a huge number of submissions they get in an accord app. (13:17) Carrie explains that 95% of their markets prefer weekly or monthly self reporting. (16:19) Carrie shares that they have access to about 10 programs across the country that are not exclusive, but the footprint is exclusive. (19:42) Carrie explains that the benefit of working with a specialist is that they know how to sell the risk. (23:53) Carrie shares that they were acquired in 2018 by JenCap and anyone that is contracted with them is automatically contracted with JenCap. (25:29) Tweetable Quotes: "We have access to probably 10 programs across the country. And while they're not exclusive, their footprint on them is exclusive." - Carrie Cheeks "We don't need something that's the same class code over and over again. We can get carriers to get after it. You know, the more generalist it gets, obviously, the smaller our carrier list becomes." - Carrie Cheeks "There are so many options throughout the country for different segments, people who specialize in different lines that we can send accounts to." - Carrie Cheeks Resources Mentioned: Carrie Cheeks LinkedIn Risk Innovations David Carothers Kyle Houck Florida Risk Partners The Extra 2 Minutes
Being A Bigger Loser Makes Me A Bigger Winner
3d ago
Being A Bigger Loser Makes Me A Bigger Winner
In this episode of Agents Influence podcast, host Jason Cass interviews Raution Jaiswal, CEO & Co-founder of InsuredMine. Raution discusses what fuels InsuredMine's growth and success, and explains why he believes they are the best all-in-one insurance CRM platform. Episode Highlights: Jason mentions that a lot of what the tech world in the insurance business is doing now is what Raution was doing since 2013. (4:02) Raution mentions that he has returned to using an iPhone after a long period of using Android. (4:37) Raution shares that he loves winning since he does not keep track of what he loses. (6:41) Raution explains that the idea for InsuredMine came to him when he was the Senior Director of M&A for CBRE in 2016-2017. (9:55) According to Raution, InsuredMine began by solving business problems and he did not originally envision creating a CRM. (17:05) Raution explains the two factors that set InsuredMine apart from other companies. (18:23) InsuredMine, according to Raution, is integrating AI into its features in order to become the production hack that agencies need. (20:25) Raution believes that there is no system that manages renewals better than InsuredMine does. (23:14) Raution elaborates that every agency with whom they work benefits and sees the results. (26:20) Key Quotes: “I do not keep stock on what I lose. And so and I lose a lot, and I don't care about it… the number of attempts and number of failures, it does not bother me. As long as I'm continuously continuing to win more than others.” - Raution Jaiswal “We have spent so much energy with our clients to build this, that we are winning. We go into demo, we just talk about renewals, we walk away with a deal that itself is a big winner.” - Raution Jaiswal “With every agency we are adding to the system, you know, more feedback is coming. And that feeds more energy to us to build a deeper product. And that's what we're going to continue. It's always been a product led company, and that will be the center stage for us, you know, just continue investing in product.” - Raution Jaiswal Resources Mentioned: Raution Jaiswal LinkedIn InsuredMine Reach out to Jason Cass Agency Intelligence
Power Producers: Smoking All the Competition with John Mason
4d ago
Power Producers: Smoking All the Competition with John Mason
In this episode of The Power Producers Podcast, David Carothers interviews John Mason, President of Chenango Brokers. John talks about what a good wholesaler looks like to an agency and how Chenango Brokers provides independent and semi-captive insurance agents with quality competitive products from financially sound admitted markets. Episode Highlights: John discusses the commercial line comparative rate that Chenango Brokers have developed for agents to use that will give them access to a multitude of admitted carriers. (1:50) John talks about having a system that asks questions and inputs the answers on a support form that brings back eligible quotes. (6:00) John shares his background and the history of how he started Chenango Brokers. (11:58) John explains that volatility is one of the things that makes their commercial package policy so valuable. (18:38) John shares that they offer personal lines and a real-time life portal application that agents can utilize. (25:23) John explains that picture-perfect submissions are the ones where applications are properly completed. (27:55) John describes the key difference between a fleet and a non-fleet in a commercial auto program. (29:53) John advises listeners to understand and study a few industries and also to understand what good communication is. (36:59) John reminds young agents to listen to people who have been in the industry for so long and are successful. (38:51) John recalls his former competitor, who had helped him make connections. (41:04) Tweetable Quotes: "Most people assume if you're a wholesaler, that you're just running a business. And you know, as a wholesaler, one of the things we also look at is the quality of the submissions that come in." - John Mason "I have an old Italian friend who lives about a mile away, and he always says to me, ‘Giovanni, no matter what you take in, it's what you put in your pocket that counts’, and he's right on the money with that." - John Mason "A great producer takes the time to understand the industry that he's trying to work in." - John Mason Resources Mentioned: John Mason LinkedIn Chenango Brokers LLC David Carothers Kyle Houck Florida Risk Partners The Extra 2 Minutes
Agency Freedom: E63: Your Coterie Of Small Commercial Partners
1w ago
Agency Freedom: E63: Your Coterie Of Small Commercial Partners
In this episode of the Agency Freedom Podcast, James talks with Jason Johnson and Katherine Jones from Coterie Insurance. Episode Highlights: Katherine discusses her role as Director of Communications for Coterie. (4:49) Katherine and Jason explain that Coterie is a managing general agency and that they do not want to be a direct to consumer company. (7:56) Jason explains his role as the Director of Agency Experience as well as his philosophy within the company. (10:50) Katherine and Jason share their experience of letting go of talented people in order to balance the financial stability of the company. (15:04) Jason shares about their new products and services that are about to come out, like the technology they call "Simply Bind". (21:42) Katherine shares how grateful they are to agents and brokers, and opens up about their company's podcast. (28:15) Jason explains that Coterie is helping agents by focusing on speed, simplicity, and finding new ways to make sure that agents are capitalizing on their solutions to pain points that clients have. (32:16) Jason explains that bulk quoting is something that they are currently working on and developing at Coterie. (35:39) Katherine shares that they are always open to feedback. (38:22) Key Quotes: "Technically, we're a managing general agency…I just want to make that distinction and be accurate. But what we don't want to be, we don't want to be direct to consumer, right? We really believe in our agents and brokers, we believe in the relationships they have in their communities." - Katherine Jones "Coterie would not be where we are today without the amazing agents and brokers who have been with us since the very beginning." - Katherine Jones "It's why I love my job, right? I get to just outsource all the cool creative ideas from the agents and take them back to a bunch of brilliant minds who can make them happen." - Jason Johnson Resources Mentioned: Learn more about Coterie and how your office can get appointed at our website to join our email list, get the scoop on our LIVE coaching calls and never miss an episode: with Agency Freedom Podcast on Facebook at the Agency Freedom Podcast group: us at podcast@agencyfreedom.com with ideas, questions, complaints or your favorite grilling recipe.
Power Producers: The Wallace Sessions Part 6
1w ago
Power Producers: The Wallace Sessions Part 6
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck chat with Carey Wallace of Agency Focus. Carey recaps the highlights from the previous sessions that could change the outcome of your business.  Episode Highlights:  Carey shares a recap of what has been talked about in the previous sessions that could change the outcome of your business. (2:55) Carey explains that agency owners need to know their company's strengths and weaknesses. (5:54) Carey explains that most of the attractive agencies are ones with sophisticated processes, technology, and great talent. (8:30) Carey shares the things to consider if you are planning to buy an agency. (10:39) Carey mentions that oftentimes, people regret their decisions because they only think about growing by acquisition. (13:33) David explains that if you don't take the steps to execute, it really isn't going to happen. (15:04) Tweetable Quotes: "If you don't know your own agency, and what your strengths and weaknesses are on your own valuation, it's tough to make that list of what you're looking for." -Carey Wallace "Not every buyer, or not every seller, wants to sell for the highest price. There are plenty of sellers that want to make sure that their customers get the same experience they've been accustomed to, and they are looking for a buyer that can provide that was great." -Carey Wallace Resources Mentioned: Carey Wallace LinkedIn Agency Focus David Carothers Kyle Houck Florida Risk Partners The Extra 2 Minutes
RHS 153 - 3 Things I’ve Learned 120 Days After Rogue Risk Was Acquired by SIAA
Aug 4 2022
RHS 153 - 3 Things I’ve Learned 120 Days After Rogue Risk Was Acquired by SIAA
In this solo episode of The Ryan Hanley Show, Ryan Hanley breaks down three things he's learned about growing a digital, commercial insurance agency after the first 120 days of Rogue Risk being part of the SIAA ecosystem. This is an episode for the ages...Don't miss it. Episode Highlights: Ryan opens the episode by sharing his feelings lately about being creative. (2:00) Ryan explains that he looks at everything as an obstacle, and how he surrounds himself with great people. (7:14) Ryan shares that he has been happy with SIAA, and there are so many things that they are doing. (12:52) Ryan shares why they are currently getting from Hubspot from an insurance perspective. (17:43) Ryan shares that they are now in the process of transferring from Hubspot to using Nexsure. (25:58) Ryan explains that the vision and process for Rouge is on the right path. (29:34) Ryan shares that the biggest issue they always had was not having enough producers to do all the business. (35:12) Ryan shares how important it is to find a great producer, regardless of their location. (39:00) Ryan explains how to build trust with clients and validate them through that process. (44:27) Ryan discusses how clients always want to hear that you’ve got them. (52:52) Ryan shares that the last step to closing a sale is to send the video proposal. (56:17) Key Quotes: "There are amazing people out there who want to help clients who want to grow, who want to be successful, who want to make money, who want to help your agency, they're just not always going to be in your backyard. It's just that's the reality." - Ryan Hanley "The vision for Rogue, the process for Rogue, it only continues to solidify in my mind that we're absolutely on the right path. We're just seeing the results." - Ryan Hanley "Right now, growth is what's most important to Rogue. We need to grow, we want to grow, we can grow. We have everything in place, and we're starting to grow, which is great." - Ryan Hanley Resources Mentioned: Reach out to Ryan Hanley
Power Women In Insurance: How Virtual Professionals Can Help In A Hard Market
Aug 3 2022
Power Women In Insurance: How Virtual Professionals Can Help In A Hard Market
In this episode of Power Women In Insurance, Teresa Kitchens sits down with Monica Adwani, host of TranscendwithM podcast, and Managing Partner of Savvital. Monica helps insurance agents with their day to day tasks with finding and locating Virtual Professionals. They take an 8 week training program and another 6 weeks with training to make sure the VP and the agency are ready to add a virtual professional to their team. Episode Highlights: Monica discusses the TranscendwithM podcast and its goals. (3:11) Monica explains that everything she created with Troy Thompson, including the training for the VAs, is based on their experiences and the way they do business now. (13:45) Monica discusses their eight-week internal program that nourishes insurance knowledge into their Virtual Professionals. (17:45) Monica discusses the importance of having realistic expectations. (20:27) Monica mentions the fact that they hire people specifically to solve problems. (22:29) Monica explains the reason why they refer their employees as Virtual Professionals. (26:11) Monica explains why they chose to source employees from Pakistan over other countries for Savvital. (30:16) Monica mentions that their Virtual Professionals are working on their CIC and CISR certifications. (37:18) Key Quotes: “The goal is to be a vessel of change and provide that platform for people. Because it's not about me helping them grow. It's about them helping each other grow. So that's kind of like what Transcend with M is doing right now.” - Monica Adwani “Explaining the why is the most important thing, and I will tell you that we spend more on the why, and getting the explanation of things than what we do on the process.” - Monica Adwani “I am learning, they are learning everybody's learning, and we will continue to learn as we grow. But I think the essence and the base of what we are doing, that will never change.” - Monica Adwani Resources Mentioned: Monica Adwani LinkedIn Savvital TranscendwithM Contact Teresa Kitchens Sterling Insurance Group
Power Producers: Crushing the Game in America’s Heartland with Ashley Napier
Aug 3 2022
Power Producers: Crushing the Game in America’s Heartland with Ashley Napier
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Ashley Napier, Chief Operating Officer at 3000 Insurance Group. Ashley shares what she enjoys about being in an employee-facing role in the insurance industry. Episode Highlights: Ashley discusses her background and what led her to 3000 Insurance Group. (3:35) Ashley explains that her favorite aspect of coaching is the structure that enables her to sit with people and understand their problems or challenges. (7:25) Ashley shares her experience of being in the healthcare industry and what she thinks are the challenges as well as the great experiences that came from it. (12:14) Ashley shares that she prefers operations more than production in her line of work today. (18:45) Ashley discusses how she conducts interviews and why she admits that it was terrible in the beginning. (20:36) Ashley shares that she takes the interview process to uncover real character and skills applicants have. (26:01) Ashley explains that it can be a challenge to balance both the production and operational sides of things. (31:07) Ashley advises newcomers to the industry to always get a mentor. (35:27) Ashley explains the importance of making space and creating opportunities for minorities in the insurance industry. (47:34) Tweetable Quotes: "I have a structure that I follow in coaching, and I am able to really sit with people and understand the things that are troubling them, the tasks or processes that are getting in their way, but more so than that, I'm able to just like to learn about them." - Ashley Napier "The best advice I can give anybody new in the insurance industry is getting a mentor, get one for insurance, get one for personal growth, get one for professional growth, get a mentor, learn from the best, learn how to be better, don't waste time." - Ashley Napier “We have to make space to invite these people in, we have to make space them. So, if we're not getting those applicants, how are we going to do that? How are we going to women? How are you advocating for the minorities?" - Ashley Napier Resources Mentioned: Ashley Napier LinkedIn 3000 Insurance Group David Carothers Kyle Houck Florida Risk Partners The Extra 2 Minutes
Agency Freedom: Special: Sometimes Producer Is Better Than Principal
Aug 2 2022
Agency Freedom: Special: Sometimes Producer Is Better Than Principal
In this solo episode of Agency Freedom Podcast, James talks about the possible benefits of being a producer instead of an agency principal. For many people, the producer career track may yield greater happiness, satisfaction, and personal wealth than the agency principal track. Episode Highlights: James explains that for some, depending on one's goal, and how they are wired to be in the industry, being a producer is better than an agency principal. (0:53) James shares that some benefits of being a producer are that there is no overhead and you are not paying any payroll because all you have is revenue. (02:53) James explains that as a producer, you don't worry about vendors, tech stack, and administrative things. (03:33) James shares why being a producer simply means having no distractions. (04:13) James shares that, as a producer, you can increase your personal revenue with ease and your proximity to your client is a huge advantage. (05:15) James shares that another advantage of being a producer is that you can easily define success. (07:23) James explains that the challenge of being a principal is the struggle to balance growth and cash flow. (08:04) James explains that another challenge of being a principal is the feeling of not having enough time. (09:04) James shares that, as a principal, it is your responsibility to manage interpersonal challenges. (12:00) James explains what shiny stuff syndrome is, and how it is a challenge for a principal. (13:57) James explains that his point is that sometimes,  being a producer is better than being a principal. (18:45) Key Quotes:  "As the principal. It's your responsibility to come to the office and create the work that needs to be done by other people on your team." - James Jenkins "If you don't have that roster of the up-and-coming talent, if you don't know who the next person is, who's going to win on your team, you are already at a deficit and your growth is going to be stunted." - James Jenkins  "If everybody is a boss, then there's no one to do the actual work. There's no one to handle the client relationships. There's no one to close the deal." - James Jenkins
Commercial Lines Secrets And Things To Do To Close The Sale
Aug 2 2022
Commercial Lines Secrets And Things To Do To Close The Sale
In this episode of Agents Influence podcast, host Jason Cass sits down with Heath Shearon, Sales Coach at Agency Performance Partners. Jason and Heath discuss the secrets of closing a sale, not just for new insurance agents but also for those who have transitioned from personal to commercial lines. Episode Highlights: Heath discusses how his commercial course is jam-packed with information ranging from prospecting to closing deals to building niches. (5:13) Jason shares that the number one secret he has discovered to be true is that no matter how good a salesperson you are, if you are a better prospector, you will make it. (7:14) Heath believes that since he is fearless, he is good at prospecting and cold calling. (8:27) Jason shares how he came to the realization that nearly everything the more experienced people in the insurance industry had told him was true. (13:17) Heath explains why finding a niche is still important despite being overused. (14:08) Heath discusses a time when he started taking pictures while prospecting in the optimism that the images would help his underwriter close a deal. (17:48) Jason believes that the word "closure" is incorrect since it implies that we are doing anything towards the end. (21:09) Heath mentions that there are several closing techniques, and insurance professionals must determine which one works best for them. (22:38) Heath emphasizes the significance of developing a connection or relationship with the underwriter. (28:42) Jason discusses how insurance agents can generate more money per account. (34:38) Key Quotes: “You should always be closing from the jump, from the moment I step into that building, or I'm on that phone call, I'm assuming the sale all the way through and making sure that they think of me already as their agent.” - Heath Shearon “There are different closing techniques that Hans and I talked about in the course and I even highlight four or five of them, but at the same time, I'm like, you gotta figure out what works for you.” - Heath Shearon “Working with the underwriter is so huge in commercial insurance. I have a whole section devoted to this because I think we've overlooked that a lot.” - Heath Shearon Resources Mentioned: Heath Shearon LinkedIn Agency Performance Partner Reach out to Jason Cass Agency Intelligence
Power Producers: Every Agency Needs an Agency CFO with the RD Advisory Team
Aug 1 2022
Power Producers: Every Agency Needs an Agency CFO with the RD Advisory Team
In this episode of The Power Producers Podcast, David Carothers is joined by Cayla Carrillo, Don Polczynski, and Roe Polczynski of RD Advisory Group to talk about how their AgencyCFO service provides financial, growth, and organizational expertise to independent insurance agencies of all sizes.  Episode Highlights: Roe, Don, and Kayla share their background and how they got into the financial industry. (2:47) Roe explains the difference between a CFO and a CPA. (10:23) Don shares five things every agency owner should understand about finances. (11:33) Cayla explains that they always tell their clients that the finance fundamentals are the same regardless of the agency size. (14:24) Cayla shares that the one role that does not understand how they are compensated is mostly the producers. (18:37) Don explains that for the vast majority of agencies, sales management is the weakest point. (24:53) Don and Roe discuss the importance of producers talking in revenue and not locking in premium. (29:46) Roe advises agency owners to look into how they are going to retain their employees now that they are halfway through the year. (35:28) Cayla and Don explain why, aside from the revenue growth rate, it is also important to monitor the retention rate. (40:30) Roe shares that, as CFO, it is their fiduciary responsibility to help agency owners maximize whatever they can. (47:21) Roe offers agency owners a free program they can provide to their clients. (52:00) Cayla explains that if financial noise is your number one problem, they can fix it. (56:49) Tweetable Quotes: "When you consider yourself to be incorporated and a business within the agency, you truly, I think, learn to develop yourself and think about your own profitability." -Cayla Carrillo "As CFOs we have decided it is our fiduciary responsibility to help our agency owners maximize whatever they can." - Roe Polczynski "We are here to talk. We never charge. We don't do quick sales. You call us if you have a quick question. We're gonna help you. This is a program to enhance your business not to scare you or to take away from you." - Roe Polczynski Resources Mentioned: Cayla Carrillo LinkedIn Don Polczynski, MS LinkedIn Roe Polczynski, MBA LinkedIn AgencyCFO RD Advisory Group David Carothers Florida Risk Partners The Extra 2 Minutes
Digital Insurance Pint: Pete Tessier of the Insurance Podcast – The Hostile Take Over
Jul 31 2022
Digital Insurance Pint: Pete Tessier of the Insurance Podcast – The Hostile Take Over
he Digital Insurance Pint Podcast is pleased to announce that they have completed a hostile takeover of The Insurance Podcast. “The combination of these two entities will form an unrivaled podcasting empire in the Canadian insurance space” said co-host Adam Mitchell. “There can be only one”, agreed co-host Tom Reid. The deal was led by co-hosts Steve Earle and Jeff Roy. They have identified some significant synergies and economies of scale in the deal. As a result, Pete Tessier has been released from his role with immediate effect. “$#^$! you guys” said Pete. With this acquisition, DIPP will now control 90% of the Canadian insurance podcasting market either directly, or indirectly, through its network of affiliates. The company has agreed to abide by anti-monopoly laws and will not raise its prices for at least a few days. This deal is subject to regulatory approval, but is expected to pass easily because no one really cares about it. More detail can be found in the attached video, where we also cover: How smaller brokers are better equipped to pivot to consumers than the mega brokers on Enterprise platforms Do we even need a BMS? BMS’s are the biggest friction point in our business BMS’s care more about their competition than our competition Brokers Assn’s are prioritizing brand over connectivity In what world does it make sense for a $10M broker to be on the same platform as a $200M broker?   Resources: Tom Reid Jeff Roy Steve Earle Adam Mitchell Digital Insurance Pint Podcast
Agency Freedom: E62: Erik Garcia On Coastal Struggles And Being A Dual Threat
Jul 29 2022
Agency Freedom: E62: Erik Garcia On Coastal Struggles And Being A Dual Threat
In this episode of Agency Freedom Podcast, James talks with Erik Garcia, Certified Financial Planner and Investment Advisor with New Century Financial Group and the Founder of Plan Wisely Wealth Advisors. He is co-owner of Garcia Insurance Services in New Orleans. And, he is the co-host of the podcast Stuff About Money They Didn’t Teach You In School. Episode Highlights: Erik discusses what made him decide to enter the insurance industry. (11:16) Erik explains that there is a difference between gaining cash flow and business growth. (17:37) Erik tells business owners that they need to build their business as though they're going to sell it. (23:02) Erik shares that the thing that drives him most crazy in the industry is contracts and the process of getting them. (29:51) Erik discusses the captive agency he was with and the underwriting guidelines that had to be arranged when Katrina hit. (37:36) Erik debunks the myth that because you own a business, you have attained freedom. (40:47) Erik talks about every investment being a question of risk and offers examples. (45:05) Erik shares that the worst thing that can happen to you as a leader is to look back and realize no one is following. (55:28) Erik explains that the more you duplicate yourself in your business, the more freedom you gain. (58:58)    Key Quotes: "You know, the worst thing that can happen to you as a leader is to look back and no one's following you." - Erik Garcia, CFP®, BFA "I want to be known as a financial planner. That's the work I enjoy. It gives me life. It is fun, there's nothing more fun than seeing people make good decisions with their money from an investment standpoint." - Erik Garcia, CFP®, BFA "The more you duplicate yourself in your business, guess what? You just got freedom, you have just released yourself from a little bit more captivity because you are not needed." - Erik Garcia, CFP®, BFA Resources Mentioned: Learn more about Erik's office at our website to join our email list, get the scoop on our LIVE coaching calls and never miss an episode: with Agency Freedom Podcast on Facebook at the Agency Freedom Podcast group:
Power Producers: The Wallace Sessions 5
Jul 29 2022
Power Producers: The Wallace Sessions 5
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck continue their conversation with Carey Wallace of Agency Focus. Carey explains the importance of having a perpetuation plan. Episode Highlights: Carey explains that if you have employees, renewable income, and processes in your agency, you need to have a perpetuation plan. (2:35) Carey explains that the reason why agency owners don't have a perpetuation plan is because of fear and lack of time. (3:56) Carey elaborates on the importance of having a disaster plan in place and how it should be set up as an agency owner. (10:12) Carey shares that a perpetuation plan is in place to protect the agency to continue into perpetuity. (13:04) Carey explains that having problems discussed even before they occur is the only way to prepare for them. (15:45) Carey advises agency owners on what to do if they don't have someone internally to buy their agency. (18:28) Carey shares that agency owners must truly understand and know what they own, to protect it. (22:25) Carey explains that everything about a perpetuation plan is about getting protected, just like how business owners protect their clients. (27:50) Tweetable Quotes: "A perpetuation plan is in plan to protect the agency to continue into perpetuity. So, you have to think about it, how am I protecting this business and all the people that own the business collectively. And the best time to think about doing that is when things are good." -Carey Wallace "If you don't have someone internally to buy your agency, but you have relationships in this industry with other agency owners that you trust. Approach, one of them to be the ones that could come in and run your agency to sell it externally." -Carey Wallace "We're all business owners. And this is about getting you protected, just like you help your clients get protected. And, it's about trust and relationships." -Carey Wallace Resources Mentioned: Carey Wallace LinkedIn Agency Focus David Carothers Kyle Houck Florida Risk Partners The Extra 2 Minutes