Power Producers Podcast: Recent Episodes
David Carothers
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In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Mark Suski, SET, CFPS, and Associate Director at Jensen Hughes. Mark talks about his knowledge and experience in risk engineering, and the hazards of dust.
Episode Highlights:
Mark shares how he got into risk engineering. (2:19)
Mark gives us a brief background of what risk engineering is. (4:39)
Mark mentions other aspects of risk engineering. (6:35)
How did the pandemic affect Mark’s career? (10:01)
Mark explains how some aspects of his job changed, due to COVID.(12:21)
Who are the people that typically reach out to Mark and hire him to go in, and risk engineer? (16:54)
Mark shares the biggest win he’s ever had, as a result of performing the risk engineering study. (28:30)
What’s Mark’s specific specialty? (35:34)
Mark shares the top three things that people should recognize when it comes to equipment safety. (39:43)
Mark shares the dangers of dust. (42:00)
Tweetable Quotes:
“Safety and protection in human life is always on the top of the list. You know, that's always going to be the first question, the first box that we're going to check is going to be life safety, and protection of people.” - Mark Suski
“When companies look at not only cost-wise, I think it helps bring down costs, but it helps, maintain. And, I think it's only going to get better and refined.” - Mark Suski
“When you think about it, risk engineering kind of does look at everything holistically... Because, A, they wanted to know what happened to my building, my structure and people. And, B, what would happen to my building, my structure, and my manufacturing processes.” - Mark Suski
Resources Mentioned:
Jensen Hughes
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Sandra Gebhardt, an Online Marketing Strategist. Sandra discusses her expertise and strategies in building a brand and marketing effectively on digital platforms.
Episode Highlights:
Sandra shares her personal story of facing challenges such as her husband's brain tumor diagnosis and navigating a non-compete agreement while pregnant with their son. (1:55)
Sandra discusses the importance of having the right mindset in marketing, understanding the true nature of building a brand, and recognizing the impact of controlling the message. (9:20)
David emphasizes the significance of personal branding and authenticity in marketing and the necessity of professional management for digital advertising campaigns. (15:43)
Sandra believes that building a strong organic presence, having a good paid strategy, and implementing a marketing strategy is crucial for building a solid foundation in marketing. (25:59)
Sandra explains that in the online world, we only have one-quarter of a second to capture someone's attention, and it takes an average of 21 brand exposures before someone makes a buying decision. (30:43)
Sandra discusses the 5x5x5 method for digital marketing: send five connection requests, interact on five posts, and send five valuable direct messages every day, while also posting about yourself and your interests to build relationships online. (37:29)
Sandra mentions that she has a website where you can find information about her marketing services, as well as an app available for download with free training on the 5x5x5 methods. (52:40)
Tweetable Quotes:
“I speak at different events, and I train 95% of my clientele or insurance agents on how to build their own foundational marketing using social media platforms, mainly Facebook and LinkedIn.” - Sandra Gebhardt
“When you build a strong organic presence, when you have a good paid strategy, when you have a marketing strategy, you're building a foundation, and that can't be shook, your ads only get better as the pixels grow, as you learn the process of how to close an internet lead.” - Sandra Gebhardt
“When we're talking about mindset, what do you need to know? There's a huge difference between content creation and building a brand.” - Sandra Gebhardt
Resources Mentioned:
Sandra Gebhardt LinkedIn
Website: Working With Sandra Gebhardt Marketing
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews Doug Avrin. Doug discusses his expertise in Workers’ Comp and his goal to help lead and develop others.
Episode Highlights:
Doug shares his journey in the insurance industry, starting as a trainee and working his way up to leadership roles. (2:51)
Doug discusses the importance of providing great service and reducing experience mods for customers. (8:40)
Doug explains that supporting injured workers and prioritizing their well-being in the insurance industry prevents long-term negative effects on their lives and overall costs. (17:23)
Doug mentions that the insurance industry needs to do a better job educating people about the value and benefits of risk management and workers' compensation, as many individuals don't understand the importance until they experience it themselves. (28:11)
Doug explains that developing effective responses to objections is crucial in sales, as it allows you to confidently address them and improve your chances of closing deals. (44:27)
Doug shares that loss prevention engineers make recommendations that cost money, but when producers deliver the message, insured individuals are more likely to receive and act on it, leading to safer environments and reduced claims. (49:46)
Doug believes that building trust and long-term relationships in the insurance industry is crucial for success, and it requires being more than just competent, but also helping insureds lower losses and costs, and create a better environment for injured workers. (53:44)
Tweetable Quotes:
“Frankly, that's kind of where I'm excited to be re-entering this industry is: let me lead some people again, let me develop them. Let me turn them into superstars so that they can crush it in the company that I end up working for will be able to do the same. I think this business is fun. I am competitive as the next guy. But this is how you win. I like to win.” - Doug Avrin
“Let's be good at what we do out there. Let's help these insureds lower their losses, lower their cost, and create a better environment for their injured workers. And when they get injured, let's make sure we take care of them so they don't want to go elsewhere. Save you the cost of turnover.” - Doug Avrin
Resources Mentioned:
Doug Avrin LinkedIn
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about the different stages of the sales process.
Episode Highlights:
David shares a story about an agency that he’s working with that has a new producer. (2:44)
David mentions the purpose of having stages of the sales process. (3:38)
David shares the stages of their sales process. (6:56)
Kyle mentions one of the huge factors when it’s lost. (8:32)
David mentions what to do when the policy comes time to renew. (19:34)
Tweetable Quotes:
“ If you look at how it works, I suspect when I go in and talk to them and get them to turn into a prospect, the first meeting is the fact-finding. My only goal from that first meeting is to get them to commit, to give us information and to book the second meeting.” David Carothers
If you're going to close on that first appointment, there's something else behind the scene that you don't know everything about.” - Kyle Houck
“I just think that if people understood how easy it is to sell insurance when you're not selling insurance, everybody wouldn't be doing it.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and guest co-host Grayson Carothers interview Gertha Jean, CEO of One Way Insurance Group (OWIG). Gertha discusses the strategies they have implemented that have resulted in attracting more desirable clientele and the concept and goal of the mobile office.
Episode Highlights:
Gertha shares her journey from working odd jobs to opening her own insurance agency. (3:39)
Gertha mentions that the first few years of starting One Way Insurance Group were tough, with a steep learning curve and many mistakes made, but ultimately it made the agency stronger and more successful. (14:11)
Gertha discusses two strategies they implemented in One Way Insurance Group: educating clients before filing claims and shifting their marketing focus to a specific niche market, resulting in attracting more desired clientele. (20:01)
Gertha explains that the mobile office is designed to make insurance an enjoyable and accessible experience, providing a safe space for conversations and workshops while showcasing the cool side of the industry. (25:42)
Gertha discusses the importance of social media in reaching a wider audience and showcasing the excitement and passion for a particular industry, specifically insurance, to promote representation and inspire others. (31:50)
Gertha believes that the insurance industry needs to adapt and pivot with the changing market, especially with carriers pulling out, in order to stay relevant and not be left behind. (42:03)
Gertha shares her experience of facing discrimination and how she learned to embrace her value and see herself as a qualified professional, regardless of others' biases. (49:15)
Tweetable Quotes:
“The whole idea behind a mobile office was to make insurance an experience. And also to go ahead and travel to different states, different events, and show people how cool this industry is.” - Gertha Jean
“First things first, representation matters. That's the first things first. And you have to be able to show people that people who look like you are in this industry and are successful.” - Gertha Jean
“In the insurance industry, some of us are so stuck in our ways. We want everything to be the same, but things are changing. And we have to learn to change with it.” - Gertha Jean
Resources Mentioned:
Gertha Jean LinkedIn
One Way Insurance Group (OWIG)
David Carothers LinkedIn
Grayson Carothers Linkedin
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews Jarid Beck, Co-Founder of Risk Management Advisors. Jarid discusses his expertise in the captive space, and how agents can introduce captives as a solution to their prospects and clients in the middle market arena.
Episode Highlights:
Jarid mentions that Risk Management Advisors’ specialty is helping individual business owners restructure their insurance coverage through single-parent captives, particularly focusing on workers' compensation, general liability, auto, property, and excess lines of coverage. (7:00)
Jarid explains that setting up a captive insurance company requires a long-term strategy, confidence in losses performing well, and understanding that it may not be cheaper in the first year but can reduce overall costs of risk over time. (11:45)
Jarid discusses the key mistakes to avoid when setting up a captive insurance company are taking on too much too quickly and under capitalization, so it's important to take a phased approach and ensure adequate funding from the start. (20:00)
Jarid mentions that the process of setting up a captive insurance company has become faster and more efficient, with approval times ranging from 5 to 8 weeks, depending on the complexity of the goals and objectives. (29:35)
Jarid mentions that Captives can be used as a cost-saving tool and brokers should be discussing these options with their clients to avoid losing business to competitors. (39:32)
Tweetable Quotes:
“Our primary specialty is single parent captives or pure captives, which is a captive that is really set up to write the insurance or serve the interests of one company or their family of companies.” - Jarid Beck
“The whole point of captive is to optimize premium spend, but it's also to develop partnerships. Everybody's interests are aligned, right? Everybody wants the losses low, the underwriting profits high, and it becomes less about price and more about quality. That's what we strive for with a lot of our clients” - Jarid Beck
Resources Mentioned:
Jarid Beck LinkedIn
Risk Management Advisors
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss the complexities of the middle-market insurance business.
Episode Highlights:
Kyle believes that when determining if a company is middle market, revenue is a more important factor than the number of employees. (2:41)
David mentions that segmentation of the middle market is important, as there are different levels within it and agents need to consider their carrier mix and risk tolerance when prospecting. (6:27)
Kyle discusses the importance of accurately representing your business to your insurance carrier to avoid potential coverage issues. (11:28)
David explains that understanding the risk profile and insurance needs of middle market companies is crucial, as their coverage requirements can be significant and complex, requiring educated decision-making and potentially assuming some of the risks themselves. (12:19)
David discusses the challenges of operating a middle market company versus a small commercial one, using a plumbing company as an example. (14:19)
Tweetable Quotes:
“I could have 100 employees, but our revenue is low because of our industry. And so I wouldn't consider that middle market. I could have 10 employees, and we could do 5, 10 million in revenue. And I would consider that middle market, you know, so for me it's revenue.” - Kyle Houck
“It's important to know if you're going to go into the middle market, or you want to even look to see what the opportunities are there understanding what the industries are that live in the middle market there, then you've got to overlay that with your carrier mix, because that'll tell you whether or not you even have the ability to write coverage for these people. ” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews Jeffrey Seidel, Owner of Northshire Insurance. Jeffrey shares what led him to be the first person in his town to open an independent insurance agency focusing on excellent customer service and how the agency uses technology to stand out.
Episode Highlights:
Jeffrey shares his journey and how he got introduced to the insurance industry. (4:17)
David discusses the challenges of starting his own agency, the importance of work-life balance, and the value of investing time in his children. (13:19)
Jeffrey mentions that he sold everything, including his house, and realized that he needed to focus on personal growth rather than material possessions due to his humble upbringing. (22:38)
Jeffrey shares his commitment to helping others and being present for his son, even if it means making sacrifices in his career and moving to a different location. (26:16)
Jeffrey discusses his journey of overcoming challenges and finding hope in building his insurance agency, inspired by other agents and driven by the desire for a simpler life. (33:22)
Jeffrey explains the value of peer-to-peer mentorship and the importance of attending events to connect with like-minded individuals in the industry. (55:04)
Tweetable Quotes:
“I explained to some of the clients that the fact that I'm coming in now gives me an advantage because I'm coming in with the technology and all the new learnings…it’s priceless compared to antiquated agencies that are still struggling with using a computer.” - Jeffrey Seidel
“I'm growing, and I'm getting to meet and talk to and develop that rapport with every single one of those clients that I do that, and they're the ones that help grow the agency.” - Jeffrey Seidel
Resources Mentioned:
Jeffrey Seidel LinkedIn
Northshire Insurance
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Elnor Rozenrot, Founder of ClaimSetter. Elnor discusses the vision behind Claimsetter, and how policyholders, agents/brokers, and contractors can utilize it in their agencies.
Episode Highlights:
Elnor discusses his experience as the founder and CEO of a consumer credit card company and his realization of the inefficiencies in the insurance claims process, leading him to start a new venture called ClaimSetter to provide financing solutions for contractors and streamline the claims process. (2:43)
Elnor explains that ClaimSetter is focused on alleviating pain for contractors, policyholders, adjusters, and carriers by getting everyone on the same page and restoring properties quickly and efficiently. (10:12)
Elnor mentions that ClaimSetter supports its broker partners in assisting their customers with claims, particularly smaller agencies that lack resources. (26:00)
Elnor discusses his experience and approach to financial management, particularly in raising credit facilities and managing funds (43:09)
Elnor shares that their goal is to help bring everyone together to make the claims process smoother and help brokers differentiate themselves and take care of their customers. (46:26)
Tweetable Quotes:
“Everybody stands to win by getting everyone together on the same page. And everybody's kind of losing today, because we're sort of looking at each other as entities that have different interests.” - Elnor Rozenrot
“We're here to help make the process smoother for everyone. So the entire idea here is that we helped bring everyone together, if you will. And we cut through a lot of the noise by using our own capital. And we're happy to take that risk.” - Elnor Rozenrot
Resources Mentioned:
Elnor Rozenrot LinkedIn
ClaimSetter
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss the different generations of insurance buyers and share how to effectively communicate and sell to each generation.
Episode Highlights:
David mentions that generational differences in the insurance industry are often overlooked, but understanding and adapting to the needs of each generation can improve sales. (2:45)
David explains the traits of the Silent Generation (1928-1945): trust in institutions, in-person interactions, risk aversion due to history, and value in low-deductible, cautious insurance. (6:33)
David shares how Baby Boomers (1946-1964) prioritize security and loyalty to insurers but are skeptical of digital tools. (11:53)
David mentions that Generation X (1965-1980) values both digital convenience and personal interaction, emphasizing family-focused insurance. (14:12)
David discusses Millennials (1981-1996) prioritizing digital management, seeking alternatives, valuing experiences, and proactive health measures. (16:25)
David shares about Gen Z's (1997-2012) focus on seamless online experiences, personalized insurance, and ethical companies, crucial in the gig economy. (22:02)
David and Kyle discuss the importance of respecting and valuing the perspectives of older generations, and the need for sales professionals to adapt and stay ahead of changing trends in the industry. (25:11)
Tweetable Quotes:
“One of the things I think's interesting right now, with being in our industry is just the general number of people that are from different generations, like we're dealing with multiple generations of insurance buyers.” - David Carothers
“All we're doing is fine tuning stuff that's pretty much already been invented. Yes, we're inventing new products. But the majority of those ideas are spawned from something else that already exists. I think that generation invented products to meet a need, and that's a big difference. They’re inventing things to meet a need. We're inventing things for convenience.” - David Carothers
“I think, obviously it's only going to keep changing so people have to get ahead of it and stay in tune with what's going on and not be reactionary as I think this industry has been for basically, its entire existence.” - Kyle Houck
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Amanda Brewton, Principal Owner of Medicare Answers Now. Amanda shares her insights and expertise in the Medicare field and offers valuable advice on marketing and selling Medicare plans, building relationships, and the need for education and referral-based marketing.
Episode Highlights:
Amanda shares her journey from working in a call center to starting her agency, which focuses on teaching and development for insurance agents. (4:16)
Amanda mentions that Medicare commissions are dictated by CMS, while life insurance commissions can be set by the entity, and Medicare agents are typically paid directly by the carrier. (11:48)
Amanda explains Medicare is a complex system with different parts and options, including Original Medicare, Part D for prescription drugs, and Medicare Supplements or Advantage plans, each with its own benefits and costs. (17:00)
Amanda discusses the different approaches and strategies for selling insurance, particularly in the Medicare market, the importance of finding the right business model and target market, and the need for education and referral-based marketing. (36:55)
Amanda shares that she runs two companies, one focused on Medicare answers and the other on insurance answers for beneficiaries, and she creates digital content for both demographics through various platforms like YouTube, TikTok, blog posts, Facebook, and LinkedIn. (46:08)
Amanda expresses her motivation to change the insurance industry stereotype and ensure people have accurate information and support. (52:00)
Tweetable Quotes:
“Candidly, I get paid to make other people's lives better. I help the agent achieve their dreams and make their lives and their employees' lives better.” - Amanda Brewton
“There are so many different ways to fundamentally grow your business and go after your target market.” - Amanda Brewton
“I want to change how people view the insurance industry as a whole. I want to have it where I know that grandma has gotten what she's needed.” - Amanda Brewton
Resources Mentioned:
Amanda Brewton LinkedIn
Medicare Answers Now
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Monica Adwani, COO at BRZ Insurance. Monica discusses her current role at BRZ Insurance, where she focuses on serving the Hispanic community, she also discusses the importance of leveraging technology in the insurance industry and emphasizes the need for clear goals and communication within your team.
Episode Highlights:
Monica shares how she fell in love with the world of insurance and eventually became an independent agent. (2:47)
Monica mentions that BRZ Insurance is a technology company that sells insurance and focuses on delivering the best customer experience through AI and multilingual support, utilizing their proprietary technology built internally. (14:14)
Monica explains that when looking for a VP, it's important to understand the purpose and expected return on investment, rather than just focusing on tasks and cost, as lacking clarity and goals will likely lead to dissatisfaction and a high failure rate. (22:42)
Monica believes that the key to showing up for your team and achieving efficiency is investing time in training and teaching them how you operate as an agency principal. (30:16)
David shares that Florida is experiencing a hard market, particularly for personal lines insurance, with clients facing significant rate increases at renewal. (35:44)
David mentions that agents must be transparent about rate increases and effectively deliver tough news to clients to thrive in the industry during a hard market. (42:52)
Tweetable Quotes:
“I am having so much fun because I get to serve my own people in my own language. And there is just so much education that needs to be done for our community. And I'm really, really thriving and very, very happy with serving our Hispanic and Latino community now.” - Monica Adwani
“We are a technology company that happens to sell insurance. We are powered by technology. Everything that we do is based on AI and based on delivering the best customer experience that we can to the client, and we do that by selling insurance.” - Monica Adwani
Resources Mentioned:
Monica Adwani LinkedIn
BRZ Insurance
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about the number one mistake that producers make.
Episode Highlights:
Kyle mentions the main mistake that producers make. (2:36)
Kyle shares why the mistake that producers make is not dropping the close. (10:56)
David gives his opinion on the main mistake that producers make. (12:42)
David mentions why producers that don’t know how to cut bait in the prospecting phase is the biggest mistake. (13:30)
David shares a story about his deal with a roofing company. (16:44)
Tweetable Quotes:
“I would say in the insurance world that people talk about coverages that they'd be missing or just different aspects of the forms. Then you have the discussion and the prospect agrees, but then you don't ask for the sale or for that agent of record letter.” - Kyle Houck
“I think that we're under such production pressure. People want the top of that funnel to be so massive that they just put everything in there. I'd rather refine it before putting it in there so I'm not using time and resources on it.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview CJ Hutsenpiller, Private Client Advisor at Hutsenpiller Insurance. CJ shares his insights on leveraging chatbots and AI to improve efficiency and profitability for insurance agencies.
Episode Highlights:
CJ describes his agency as a technologically advanced insurance agency in Tennessee that specializes in personal lines and enjoys experimenting with new technology. (4:35)
CJ discusses the challenges of social platforms and the importance of staying authentic, utilizing AI to create scalable content, and focusing on meaningful conversations through chatbots. (11:45)
CJ believes using lead magnets that are not insurance-related to attract potential customers and then following up with insurance-related content later on, can be a practical approach to gaining new clients. (19:33)
CJ explains that the key to effective advertising is tailoring content to specific audiences based on their interests and preferences. (24:58)
CJ shares the benefits of learning from his mom in their family agency. (33:26)
CJ mentions that AI tools, like chatbots, are becoming more prevalent in the industry and can significantly improve efficiency and profitability for agents. (40:31)
CJ shares that the potential of open AI and AI, in general, to revolutionize industries and create cost-effective solutions is a game changer if utilized by agents. (49:36)
Tweetable Quotes:
“My mom was a freakin rock star in insurance and I was blessed to get to watch her operate for a long time.” - CJ Hutsenpiller
“There's a lot of things that you can do with some of these AI tools that are just mind-boggling that just didn't have the ability to do years ago, and it's just gonna make you be able to be that much more profitable because you can get more work done faster.” - CJ Hutsenpiller
“Open AI, AI in general, is going to be a game changer if agents will use it.” - CJ Hutsenpiller
Resources Mentioned:
CJ Hutsenpiller LinkedIn
Hutsenpiller Insurance
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews Scott Mogensen and Joel Sitak of Foley. Scott and Joel discuss the challenges in the current hard market and share how Foley’s software simplifies the recruiting, screening, and monitoring of drivers in your fleet.
Episode Highlights:
Scott and Joel discuss their career journeys and how they reached their current positions at Foley. (2:58)
Joel mentions that Foley assists motor carriers in developing a digital safety program, integrating tools and data sources for efficient screening, monitoring, and risk reduction. (6:57)
Scott explains that real-time monitoring of driver's licenses allows immediate notification of any changes or issues, enabling proactive action and improved behavior from drivers. (13:23)
Joel discusses how emerging technology and changing laws are forcing employers to update their drug testing policies to address challenges in determining impairment and protect employees using CBD or hemp. (21:07)
Scott explains that solutions like motor vehicle record monitoring, random drug testing, and criminal monitoring are crucial for mitigating risk. (30:52)
Joel shares that as technology advances, safety profiles and driver data have become crucial for managing safety programs. (38:02)
Scott mentions that Foley’s software helps customers hire drivers quickly and monitor risk to lower insurance premiums. (40:24)
Tweetable Quotes:
“What we're helping our customers do is take these isolated processes that are non-standardized, and usually, in a lot of carriers' cases, very paper-based, and bring them into a digital, single platform where they can operate more effectively both in the screening process and have more robust screening programs and also on the monitoring process, and really go one step beyond what the minimum compliance standards would be.” - Scott Mogensen
“Our solutions really help client retention because you're going to keep that client, they're not going to keep shopping around and find different insurance agencies to work with.” - Joel Sitak
Resources Mentioned:
Joel Sitak LinkedIn
Foley
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers discusses the concept of the total cost of risk in insurance and its five key components. He also discusses various factors that contribute to the total cost of risk and how to provide the best value to clients.
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Ron Wadley, an Agency Owner and Search Engine Optimization expert. Ron shares his journey to becoming an Agency Owner, and his expertise in SEO and other strategies that have contributed to the success of his agency.
Episode Highlights:
Ron shares that he has a background in actuarial work and healthcare IT, but decided to leave corporate life and opened his own insurance business 10 years ago. (2:55)
Ron mentions that Insurance for Texans is actively shifting its focus from personal to commercial insurance, bringing in experts in smaller commercial and life/health insurance to provide a boutique experience and be a single point of contact for businesses, while eliminating competitors like ADP and paychecks. (11:47)
Ron discusses the importance of hiring the right people for a successful independent agency, focusing on referrals and value-based work culture rather than traditional methods of recruitment. (20:56)
Ron mentions that the learning curve is steep when transitioning from a captive to an independent agent, as you have to learn multiple products, policy forms, and exclusions, but advancements in AI chatbots may help streamline the process in the future. (27:21)
Ron mentions that in order to make sound decisions in sales and hiring processes, it is important to detach from outcomes and focus on evaluating the decision-making process itself. (38:09)
Ron shares that Sprocket Ops offers to share their SEO secrets and insights on a daily basis for those interested. (52:41)
Tweetable Quotes:
“We can create a very white glove experience for those businesses that want more relationship and still get what they need to get. And so we're doing that by putting these people into the right roles, and having a couple of referral partners who can handle things that we don't touch.” - Ron Wadley
“I'll admit, we don't keep track of days off. If you need a day off, go do it, just get your stuff done. We're not tracking paid time off. But what we are doing is setting you up to be successful giving you the tools to get to where you want to be.” - Ron Wadley
Resources Mentioned:
Ron Wadley LinkedIn
Insurance for Texans
Sprocket Ops
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers sits down with David Watson, CEO of Risk Advisor to discuss the changes and advancements in Risk Advisor technology over the past two years, highlighting the importance of technology in improving efficiency and potentially impacting pricing in the insurance industry.
Episode Highlights:
David Watson discusses the importance of evaluating one's schedule and having a supportive partner when starting a new venture, highlighting the need for a strong base structure both in business and at home. (6:15)
David Watson shares his recent business activities, including discovery calls, subscriptions, and referrals, emphasizing the importance of consistent and helpful content on social media platforms for generating leads and sales. (13:20)
David Watson mentions that the key to saving time and increasing agents' efficiency is eliminating duplicate entries and streamlining data collection and integration with various tools such as virtual assistants, CRMs, wholesale brokers, and Agency Management Systems. (26:10)
David Watson discusses the importance of feedback and prioritizing user ideas, including forming an Agent Advisory Council. (31:43)
David Watson explains that exciting upcoming developments in the next year will include new tools and resources to help agency owners hire the right people and increase their closing ratio, ultimately making their agency more profitable. (41:36)
David Watson mentions that Risk Advisors offers a 7-day trial with automated onboarding, including setting up branding, integrations, adding team members, and scheduling an onboarding call for success. (44:28)
Tweetable Quotes:
“What we have been really focusing on this year is doubling down on helping agents have a better conversation, which is going to produce more sales, more cross-sells, and more revenue across the board.” - David Watson
“Our goal is to put out a platform that's going to help you and your agent and your producers that you're looking to hire be more efficient and make more money.” - David Watson
Resources Mentioned:
David Watson LinkedIn
Risk Advisor
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, listen in on a Killing Commercial producers' training call where they discuss the importance of creating and storing training materials, using tools like SharePoint and CRM systems, and the effectiveness of using AI-generated content for social media posts.
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Joe Ardeeser, Founder of Smart Pricing Table. Joe discusses how the Smart Pricing Table software excels in building catalogs, pricing tables, and analytics for a better understanding of prospect interactions.
Episode Highlights:
Joe discusses the decision to sell their business and make their own in-house solution for writing proposals, and four years later, they launched it as Smart Pricing Table. (2:56)
Joe explains that their software excels in building catalogs and analytics on lower-level interactions and focuses on pricing tables and scope of work, allowing for a better understanding of prospects' interactions. (9:00)
Joe shares that their journey led to numerous discoveries including the ability to have someone else create proposals for a catalog, customer impressions, and the importance of optionality. (20:16)
Joe explains that building momentum in proposal creation involves asking new questions and updating your system as it allows for a more straightforward process, resulting in faster proposals and better outcomes. (26:56)
Joe discusses how a great proposal can significantly impact the outcome, making it crucial to critically think about it and make a difference in the process. (34:15)
Joe discusses the Profitable Proposal Blueprint which is a free guide available on the Smart Pricing Table website which includes five secret tips for continuous improvement. (40:45)
Tweetable Quotes:
“There are lots of different solutions on the market, you know, where our software really hits it hard is building that catalog. That's the thing that we do really, really well. And because we're so focused on your pricing table, your scope of work, we also have analytics on lower-level interaction.” - Joe Ardeeser
“I think when we decided to go on the journey, there were so many discoveries. One of them is the fact that when you create a catalog, you can actually have someone else create proposals for you, which is a really, really helpful game changer.” - Joe Ardeeser
“I love the idea of building momentum. So each time you're creating a proposal, you're asking new questions, a lot of questions you've already answered, but you're asking some new questions. And you're always building your system.” - Joe Ardeeser
Resources Mentioned:
Joe Ardeeser LinkedIn
Smart Pricing Table
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Vince Shorb, CEO of National Financial Educators Council. Vince discusses the key components of financial literacy and wellness, including knowledge, skills, and the confidence required to effectively apply these elements in real-life situations.
Episode Highlights:
Vince discusses what led him to his mission of educating people about financial wellness (6:45)
Vince explains that financial literacy and wellness require knowledge, skills, and confidence for effective application. (12:39)
Vince mentions that financial coaches often face difficult conversations with couples discussing life goals. (19:49)
Vince believes that financial educators can help individuals navigate complex financial situations, leading to better lives and support for family and friends. (24:53)
Vince explains that education is crucial in building a long-term client, as it helps them understand financial complexities in a layman's way, preventing the loss of clients. (32:41)
David mentions that to overcome objections in a business, it's essential to have a plan and execute it. (38:05)
Vince encourages financial education in the financial service space to help build a brand around financial wellness. (44:28)
Tweetable Quotes:
“If we really focus and shape our message around education, if we're contributing to the community, so we do a lot of campaigns, we're going to communities, donate resources in the name of individuals, build that relationship from the education standpoint. So they know, hey, this is somebody I can ask questions to.” - Vince Shorb
“I think with you guys taking that role as educating, really explaining things in a clear, concise way, that's a lot what education is. That's building a long-term client that's building somebody that can come back to you and won't be sold by somebody else, you know, somebody else that comes along and educates them.” - Vince Shorb
Resources Mentioned:
Vince Shorb LinkedIn
National Financial Educators Council
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers discusses the importance of detaching from outcomes, a powerful concept brought up by Josh Braun at Producers in Paradise. David also shares the structure of Producers in Paradise and a few of the lessons learned from the event.
Episode Highlights:
David discusses the structure and concept of the Producers In Paradise conference. (2:28)
David shares how the sunset cruise in Key West provided an informal setting for sponsors and attendees to get to know each other. (3:21)
David mentions that Producers in Paradise is an annual event where attendees share their skills and needs, enabling others to identify potential partners. (4:30)
Josh discusses the importance of being detached from the outcome during his presentation at Producers in Paradise. (8:00)
David explains that agents and producers can try to control as much as possible in the sales world but they cannot control the environment. (17:32)
David shares that the most significant lesson he learned at Producers in Paradise was the need to quickly implement impactful nuggets of wisdom, as no one else is responsible for our mindset except ourselves. (21:18)
Tweetable Quotes:
“The key west event itself is special in that it is not a normal conference. And I think it's important for everybody listening to understand the architecture of that before we get into the lessons learned or the lessons that should be learned.” - David Carothers
“We go out into the sales world and we can prepare as much as we want, we can take all the training we want, we can have the best software, the best tools, just like in fishing, we can have the best tackle, the best electronics, the best boat. But what we can't control is the environment.” - David Carothers
“The biggest lesson that I've learned from Producers in Paradise is that we simply need to implement those things that are nuggets and impactful as quickly as we can hear them. Because no one else is responsible for our mindset other than ourselves.” - David Carothers
Resources Mentioned:
Josh Braun LinkedIn
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Kaleigha Cramer of 212 Insurance Group. Kaleigha shares her journey to becoming an independent agent and discusses the importance of rest, learning, and finding joy and purpose in your work.
Episode Highlights:
Kaleigha shares how she started in the insurance industry as a CSR and her transition to becoming an agency owner. (3:01)
Kaleigha discusses how she went from being born to teenage parents to owning a successful insurance agency. (10:40)
Kaleigha shares how the idea of "fake it till you make it" matters, along with taking care of yourself and taking breaks. (26:23)
Kaleigha explains how finding joy and purpose in your work is better than trying to push away bad thoughts. (30:52)
Kaleigha mentions her plans to grow their business by offering insurance to places like chicken houses, contractors, trailer parks, and churches. (35:55)
Kaleigha mentions how many farmers don't think about the problems of overspray or overcharging crops. (39:28)
Kaleigha mentions that learning new things can help you get better at any job. (58:22)
Tweetable Quotes:
“If you're a producer, if your agency owner, it's okay to take a hat off, it's okay to rest. It's okay to take a day off if you need it. It will be there when you get back.” - Kaleigha Cramer
“The biggest thing for me is always know when to speak, and always be a learner. Because you need to use your voice when your voice needs to be heard. And you need to learn from everybody, learn anything, even if it's as little as like you're talking about something that you read in a book like you learning everything will help you in anything. ” - Kaleigha Cramer
Resources Mentioned:
Kaleigha Cramer LinkedIn
212 Insurance Group
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and guest co-host Abe Gibson interview Chris Walker, CEO of Refine Labs. Chris discusses how Refine Labs helps companies to execute marketing strategies to start generating revenue, and the importance of digital marketing in today's business landscape.
Episode Highlights:
Chris explains how he recognized the unique marketing approach he had created and decided to start helping companies at scale through Refine Labs. (2:48)
Chris discusses how each platform has a moment in time when it offers the most upside for content marketing. (7:50)
Chris mentions that users' expectations for content consumption and execution will need to rise as AI grows and content availability increases. (15:13)
Chris explains that effectively marketing your product or service requires dividing your target market into two categories: those actively looking to buy and those not. (20:18)
Chris mentions that there are moments of arbitrage and low barriers to entry in crypto, where people can create cheap, high-quality assets. (36:47)
Chris discusses the scale and impact of word-of-mouth marketing in today's digital landscape. (39:05)
Chris shares his insight on the importance of collecting direct feedback from customers to understand what marketing strategies are truly effective. (44:31)
Chris mentions which type of accounts see the most success with growth with Refine Labs. (48:39)
Chris believes that in business, it's crucial to align expectations with actual practice and work to achieve success. (53:36)
Tweetable Quotes:
“It's true that you can put content on any platform, but it's undeniable that each platform has a moment in time, where there's significantly more upside than any other place on the internet.” - Chris Walker
“As AI continues to grow and content availability, free content availability goes up people's bar for the content that they believe, consume, and execute against needs to go way up, or you're going to potentially be taking a lot of bad advice.” - Chris Walker
“We typically find the most success with growth, what most people would consider mid-market segment or enterprise segment companies. So that could be somewhere between 300 employees and above. We work with companies like IBM and Teradata, so it's not like there are companies that are too big or too complex for us. But we also have a ton of success with what will be called single product, single market or platform software.” - Chris Walker
Resources Mentioned:
Chris Walker LinkedIn
Refine Labs
Abe Gibson
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about the significance of being prepared on appointments and asking open-ended questions.
Episode Highlights:
David mentions the biggest issue when it comes to appointments. (2:05)
David shares a story about the most recent deposition he was in. (3:59)
David shares the two factors that the producers must do to be successful in the foreseeable future. (10:51)
Kyle shares some of the factors that he has used in the past. (14:13)
David shares one of the calls he was supposed to have. (15:26)
Tweetable Quotes:
“I'd like to focus a little bit on the open-ended questions because I think that if you're good at that, and you perfect that art, you will close a lot of business that way. If you ask questions the right way, you're going to be able to drive a wedge and allow that prospect to conclude that they're not getting what they're paying for.” - David Carothers
“We're so focused on going out and writing the accounts that have problems that we completely miss the fact that we have best in class resources and a really good platform of value add stuff. Companies that are already doing good and want more, we're attracted to them too.” - David Carothers
“When there are not any accounts that are having issues, you don't think that you need to fix anything. There's stuff that we can provide to them that could drop their mod lower.” - Kyle Houck
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews James Jenkins, Founder & CEO at RiskWell & Host of the Agency Freedom Podcast. James shares his personal experience leaving a captive agency and the lack of resources available to him at the time, which inspired him to write the book "Leaving Captivity" as a guide for others.
Episode Highlights:
James discusses his struggles due to a lack of resources when considering leaving his captive agency, which prolonged his transition by several months. (2:35)
James shares about his book, Leaving Captivity, and offers information about the extra content available for book readers on his website, including a subscriber wall and a code word for free access. (9:44)
James goes into detail about the topics covered in his book, such as time management and his personal journey leaving a captive agency. (20:00)
James discusses the benefits of the independent channel, highlighting its flexibility and the significance of time value compared to the captive agency environment. (29:19)
James explains the distinction between being an income statement and a balance sheet in an independent agency and how this difference empowers agents to create an asset for themselves and their kin. (37:50)
David announces a free giveaway for "Leaving Captivity". (41:47)
Tweetable Quotes:
“What we do with our time is probably one of the most important things about who we are as people.” - James Jenkins
The message of leaving captivity really simply is just thoughtful and intentional about whatever you do…Highly intelligent people are highly driven, and typically very accomplished in various ways; nobody needs to teach them any of the basic stuff. It's just a good firm reminder to be intentional about everything you do.” - James Jenkins
Resources Mentioned:
James Jenkins LinkedIn
RiskWell
Agency Freedom Podcast
Book: Leaving Captivity
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Kevin Mlynarek, Co-Owner of Ideal Traits. Kevin discusses the importance of taking a logical approach to find the right fit for your team, the value of using personality assessments to determine if a candidate is suited for the role, and how Ideal Traits can help insurance agency owners make better hiring decisions.
Episode Highlights:
Kevin shares his firsthand experiences and the insights he has gained about the role of personality assessments in hiring processes. (09:53)
Kevin shares his personal belief about the importance of actively seeking top-notch talent, discussing the time he hired a 20-year-old with no sales experience who ended up buying his agency years later. (18:23)
Kevin encourages the use of virtual assistants, explaining how his team personally benefits from their services. (28:26)
David discusses the critical role of employing the right people, sharing how this strategy can provide agencies with a competitive advantage. (39:30)
Kevin mentions the strategies they employed to grow their agency, which included incorporating more value into their insurance policies and focusing on liability coverage. (44:35)
Tweetable Quotes:
“Creating great lives, not just for ourselves but for others, is super rewarding.” - Kevin Mlynarek
“You have to be engaged with your people. You’ve got to teach them, train them to roleplay.” - Kevin Mlynarek
Resources Mentioned:
Kevin Mlynarek LinkedIn
Ideal Traits
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers shares his expertise on how to structure fee agreements and recoup costs when auditing accounts and discusses the importance of being transparent about compensation with clients.
Episode Highlights:
David discusses the process of auditing accounts including how to split fees with clients and which policies are included in fee agreements. (2:42)
David shares the reason why he prefers to engage with clients a month after their account renewal. (6:32)
David discusses how to handle mistakes found during a mod audit and ways to get paid for correcting them. (9:54)
David explains the importance of investing in relationships with clients and how to budget for third-party loss control services. (16:13)
David discusses the three ways to structure a fee agreement. (17:40)
David suggests pitching the fee structure to potential clients, as it may not be discussed in the middle market. (23:56)
David discusses the importance of transparency in compensation and how to use the risk management action plan to show clients what they are paying for. (25:07)
Tweetable Quotes:
“It's really, really important that you understand how these deals get structured. And the best way to do it, in my opinion, is to always have some skin in the game for yourself because that's more attractive to the buyer.” - David Carothers
“When we do a proposal to somebody, we identify exactly what our compensation is going to be. It's completely transparent, especially in the fee basis because we're billing them for it. We're telling them, here's what we do, here's what we're charging you. They don't have a problem paying that bill. That's why the Risk Management Action Plan is so important because I'm sending that thing with an invoice every single time. I want them to see we've earned the money that we're billing them for.” - David Carothers
Resources Mentioned:
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Paul Hawkins and Sean Hawkins from HawkSoft. Paul and Sean discuss the value of understanding a customer's needs before offering solutions and the importance of building a workplace culture of empathy and collaboration.
Plus, they give a sneak peek into the upcoming release of HawkSoft 6, a cloud-based upgrade to their existing system.
Episode Highlights:
Sean discusses his early interest in programming and how it led to the creation of HawkSoft. (3:39)
Paul and Sean discuss the importance of relationships, which are the foundation of the core values within their company. (11:32)
Sean mentions that showing gratitude can improve relationships and productivity. (16:57)
Paul and Sean discuss HawkSoft's approach to sales and how they prioritize finding the right fit for an agency. (20:20)
Paul shares how they prioritize customer service and support, and how it has helped them grow their business. (30:10)
Paul explains their demo process, which involves asking questions to understand the needs of the agency and then catering the demo to those needs. (36:14)
Sean discusses the upcoming release of HawkSoft 6, which is a cloud-based upgrade to their current Agency Management System with new features, including faster reporting and enhanced task management. (44:54)
Tweetable Quotes:
“Our core values that we ascribe to, that we hire and fire by, and we use to answer all the questions are all about relationships.” - Paul Hawkins
“HawkSoft 6 is just that next iteration. And we didn't want agencies to feel like we are creating a new product that we're going to resell to you guys, because that's not what we're doing. HawkSoft 6 is just an upgrade, it's an upgrade to the new product.” - Sean Hawkins
Resources Mentioned:
Paul Hawkins LinkedIn
Sean Hawkins LinkedIn
HawkSoft
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview David Neagel, Founder of Life Is Now, and host of The Successful Mind Podcast. David Neagel discusses the importance of having a positive mindset, and the significance of believing in oneself, charging the correct value for services, and being disciplined in sticking to one's business plan.
Episode Highlights:
David Neagel explains what led him to start his business, Life Is Now, which helps others achieve success through a positive attitude and skill development. (9:55)
David Neagel and Kyle discuss the importance of personal contact in sales and how it can profoundly impact results. (17:15)
David Neagel discusses his podcast, The Successful Mind Podcast which is both conversational and informative, and how it helps people with business advice. (29:19)
David Neagel mentions the key mindset shifts that can double revenue without doubling workload, including believing in self-worth and charging the correct value for services. (34:45)
David Neagel believes that knowing your hourly pay and making decisions based on it is important. (38:23)
David Neagel mentions that the average individual often doesn't outearn their families due to a financial setpoint in their head. (41:46)
Tweetable Quotes:
“The amount of decisions that people make from the idea that they don't really believe that they're worth success to begin with, is extraordinary to me. It’s just absolutely extraordinary. So we'll help them fix that first, and teach them how to make decisions based from the place that they actually believe that they're worth the success that they want.” - David Neagel
“With every business person that we work with, we put them through that exercise of what is their hourly pay worth. Because if they don't know that, they don't know where they're making decisions from as far as what is worth their time from a monetary perspective. And that's a big deal.” - David Neagel
“Sales is one of those things that is needed absolutely everywhere. But it's almost like a necessary evil when you hear about it.” - David Neagel
Resources Mentioned:
David Neagel LinkedIn
Life Is Now
The Successful Mind Podcast
David Carothers
Kyle Houck
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss ways to address policy errors before they become a problem and the importance of getting to know your client's needs before trying to sell them anything.
Episode Highlights:
David discusses two possible approaches to rectifying an erroneously drafted policy: one way is to proceed as usual, prepare a quote, and then present the client with the revised figures; the other way is to promptly address and rectify the issue. (1:39)
David explains that it's important to enlighten clients about the total cost of risk, which includes the soft costs related to claims and the transferring of risk to staffing companies. (8:06)
David mentions the importance of thorough lead research and understanding your target demographic for effective insurance business marketing. (12:49)
David explains that to set yourself apart as an agent, it's helpful to ask clients about their decision-making process. (17:35)
David mentions that in transactions where broker selection is key and clients often believe agents are in competition with one another, it's crucial to clearly explain how your business operates and why choosing an agent for marketplace representation is a wise choice. (18:28)
David discusses the value of developing a personal brand and how it can contribute to retaining clients. (24:45)
David shares that increasing productivity often requires slowing down. (27:48)
Tweetable Quotes:
“I want to make sure everybody's very, very clear when you're working on your business plan, and you're starting to put your pipeline together, you know, you only need to do as much research as you need to do that step of the process.” - David Carothers
“This is the question you'd have to ask every time because it's going to open you up to be able to explain your process that other people aren't going to get the opportunity. And it's an easy question but many, many people never ask it when they go into a meeting. And that question is, “How do you make the decision of who you're going to select to represent you in the marketplace?” That's it.” - David Carothers
“I tell my team all the time, you have to slow down in order to speed up. If you're going too fast, you might feel activity, but you're not getting productivity. You have to let the system play and respect the amount of time it takes to do this stuff.” - David Carothers
Resources Mentioned:
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Marcus Harris, Insurance Executive at Arnold Insurance. Marcus discusses how they value their producers, clients, and company at Arnold Insurance and shares the importance of different generations in the insurance industry.
Episode Highlights:
Marcus shares his background and how he got into the insurance industry. (7:52)
Marcus talks about his marketing company, which initially started as a video production company because he loved the concept of telling stories through video. (12:04)
Marcus mentions that he initially started the insurance business when his dad offered to help him start an agency in Denver. (19:38)
Marcus explains that part of what Arnold Insurance tries to drive home for their producers is that they need to finish the job to protect their clients, the agency, and themselves. (26:08)
Marcus shares that, for him, working with his family is a blessing and rewarding as everything is an opportunity for them to work together. (28:23)
Marcus discusses his experience with Keystone. (33:34)
Marcus explains that one of the biggest challenges from his perspective of growing an agency is getting bigger clients, and the only way to do that this is to know your stuff. (38:09)
Marcus explains that you are in the right competition when you overcome others by being consistent and gladly competing with the ones that are left. (47:12)
Marcus shares how much he enjoys the rush of getting the Broker of Record. (54:10)
Marcus explains that the insurance industry needs a new generation, and it is always great to welcome people that are trying to build their careers in this industry. (56:31)
Tweetable Quotes:
"I think that's what we're trying to drive home with our producers is, hey, you've got to finish the job, you've got to protect us, protect the agency, protect yourself. And then you've also got to take the opportunity to truly educate your client, make sure they know what they have." - Marcus Harris
"Insurance is a massive industry, right? I mean, there are tons of those guys in every corner. Most of those guys you get rid of, by just being consistent. And then the guys that are left, you're glad to be competing against those guys. That means you're in the right place. " - Marcus Harris
"I think you realize that you weed out a ton of your competition by stuff that's very much in your control. And when you get to a certain level, yes, you're going to get beat by guys that can hit the ball better than you like that. Just note, they’ve just got a skill set that is different, right?" - Marcus Harris
Resources Mentioned:
Marcus Harris LinkedIn
Arnold Insurance
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Steve Munn of MAI Risk Advisors. Steve discusses how they have developed their company culture at MAI Risk Advisors and offers advice for new producers entering the industry.
Episode Highlights:
Steve shares about his background growing up in Western Canada. (2:21)
Steve explains he didn’t start in the insurance industry, and the first actual job he had was selling industrial supplies. (10:51)
Steve mentions that one of the biggest surprises for him after entering the insurance industry was the difficulty of the job at first, but as he learned, he just aimed to keep getting better. (16:10)
Steve shares that one thing he learned from playing sports that he applied in the industry was to build a great relationship with his team. (19:22)
Steve mentions that one of the most difficult challenges in terms of office culture is finding the right people. (24:31)
Steve shares that their current business profile at the agency is 80% commercial wich includes niches like real estate developers, churches, construction, nonprofits and private schools. (26:36)
Steve discusses the concept of the Industrial Network Group, a group he established for the manufacturing and industrial sectors. (29:50)
Steve encourages people who are new to the producer role or are just starting out in the industry to invest in themselves and keep learning. (37:54)
Steve explains that we've done our industry a huge disservice by teaching people to shop based on price where everyone is looking only at the bottom line and not at the actual details of what is and isn’t included in the policy. (45:16)
Steve mentions that they are currently working on creating social media marking videos. (49:45)
Tweetable Quotes:
"I really focus on my relationships with my account managers. I always express gratitude. I always thank them, you know, whether it's a huge deal or a small deal. It's still important. I try and be a good teammate." - Steve Munn
"I love connecting people. I love opening doors for people. It's fun to see other people succeed and you know, eventually, they return the favor, hopefully." - Steve Munn
"I want to be the guy my team relies on, right? And so, getting, doubling and tripling down on educational work really kind of gave me a lot of confidence." - Steve Munn
Resources Mentioned:
Steve Munn LinkedIn
MAI Risk Advisors
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about the significance of messaging, stewardship reports, and how to utilize the risk assessment report.
Episode Highlights:
David shares that he always hears people complaining about losing their business and they feel that they’ve done everything right. (1:41)
David mentions that you must start with the onboarding before doing a stewardship report. (3:47)
David shares that if you structure your client to set their expectations appropriately on what they should expect from you, then you can update them in real-time every month. (3:59)
David mentions that it's normal for a risk manager to go into a business and do a walk through baseline risk assessment. They can capture everything that might be a hazard, needs to be corrected and document any deficiencies in training programs. (5:18)
David shares one of his favorite tricks when he’s doing a baseline risk assessment. (6:03)
David shares that when he does the baseline assessment, he interviews employees and some frontline supervisors. The scores are based on their actual conversations and results to back up his results. (7:39)
David mentions that the findings on the risk assessment report will become the framework for the risk management action plan. (8:26)
David thinks that anytime you give information more often in smaller bits, it becomes digested more easily and more clear of what you’re doing. (11:07)
Kyle shares that it’s significant to set the expectation on the front end and letting them know what's going to happen over the year. (15:33)
Tweetable Quotes:
“Everything that I do in the middle market account hinges from that baseline risk assessment. I'll include the carrier loss control reps because I want them to have their two cents into what needs to go into that document.” - David Carothers
“When I do a risk assessment report, it's a 1 to 10 score. I give them a blank copy and say you don't need to walk around and look, you're here every day. I'm interested in you giving me your 100% anonymous score.” - David Carothers
“If you message appropriately and you tell your clients what it is you're doing for them, you can bet that they will bring you a pie, ” - David Carothers
“If you're telling them the things that you have planned, set out to do over the year, and you follow up with them as those things are going along, then that's the happy medium in my opinion.” - Kyle Houck
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews Paul Epstein, bestselling author, and keynote speaker. Paul discusses the importance of adaptability, resilience, and a positive mindset and the importance of understanding yourself and your purpose.
Episode Highlights:
Paul discusses his experiences in sales leadership and how he learned to play offense in defensive environments. (2:42)
Paul shares his thoughts on overcoming adversity and applying past experiences to current challenges. (11:11)
Paul mentions that his book “The Head Heart Hands Equation” aims to help individuals make better decisions faster and will be available in September 2023. (24:47)
Paul explains that culture transformation involves focusing on the three subsets of people: partners, tourists, and prisoners. (30:58)
Paul discusses how the majority of people haven't done the inner work of understanding themselves and their purpose, but successful people have intentionally put themselves in environments to understand themselves better. (35:22)
Paul explains that achieving success is a never-ending climb and it's important to define what success looks like in our own words. (43:39)
Tweetable Quotes:
“I have done the inner work, to know who I am, to know why I do what I do, to have a vision on where I'm going to position it as a mission so that I don't give up at the first signs of hurdles, obstacles, setbacks, adversity, like this is the fortitude that's needed.” - Paul Epstein
“The number one way to battle through all these very human feelings is unshakable confidence.” - Paul Epstein
Resources Mentioned:
Paul Epstein LinkedIn
Website: Paul Epstein
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Liz Benz, Marketing Director at New Buffalo Insurance Agency. Listen to this inspiring conversation filled with insights on resilience, teamwork, and the pursuit of growth in both personal and professional life.
Episode Highlights:
Liz shares her entry into the insurance field, detailing how her husband, Doug Benz, guided her learning. (14:18)
Liz discusses the significant role of residual income and how an abundance mindset can alter one's perspective. (20:29)
Liz mentions how the benefits of entrepreneurship include flexibility and a harmonious work-life balance, which is especially important when managing tasks such as driving and family care. (31:55)
Liz explains that successful collaboration with a spouse requires recognition of past experiences and alignment with common marriage goals, with a readiness for handling challenges and a focus on the family, future, and children. (40:16)
Liz shares her discovery of Ryan Hanley via social media and the opportunity she and Doug had to meet him personally. (45:49)
Liz believes that maintaining patience and consistency in life contributes to reducing disappointment and enhancing the enjoyment of the present moment. (54:58)
Tweetable Quotes:
“Working in this industry and working with your spouse… I think one of the advantages for sure, is owning your own business first of all. Second of all is that flexibility.” - Liz Benz
“If you're looking to work with your spouse, or go through it, you have to know what you have been through together already, and what you can, how much you can take.” - Liz Benz
“Tomorrow is another day and you just keep going, you just keep going. And it's 1,000% worth it. So, it's all in the process. All those moments add up to where you are now.” - Liz Benz
Resources Mentioned:
Liz Benz LinkedIn
New Buffalo Insurance Agency
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about the daily routine that makes them the most productive and the most successful. David shares his process in finishing video content.
Episode Highlights:
David mentions the first thing he does every day when he’s doing things the right way. (2:01)
David shares what he likes to read. (8:19)
Kyle mentions what Daniel Seong shared with him. (9:23)
What’s the content of David’s editorial calendar for the entire year? (11:38)
David mentions the first thing he does when he gets in the office. (12:30)
David shares how he gets his video content done. (15:47)
Why is having a VA essential? (17:37)
Tweetable Quotes:
“If I don't have that accountability it doesn’t matter how successful I ever could become, how many deals I close, how much money the agency makes because I won't do that. I'll stop because I need accountability to get that done. Just like I need accountability to make sure that I eat right.” - David Carothers
“One thing is you need to plan for it. When you're walking in the next morning and you didn't get something done last night, you already have stress on you and you already feel behind.” - David Carothers
“You have to plan this stuff out and you have to stay regimen into it. If you don't, it spirals out of control and you really do end up putting yourself in a position where you get nothing done.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Toby Hansen, Owner of Toby Hansen Insurance Agency, and co-founder of GSTsoftware. Toby talks about his move from captive to independent agent, what's going on in the world of Insurtech, and how GSTsoftware helps insurance professionals get their business done in the most efficient way possible.
Episode Highlights:
Toby discusses his background. (2:30)
Toby believes that insurance agents sometimes wonder if the carriers have a clear vision. (5:11)
What has Toby learned as a result of his transition from captive to an independent agent? (9:50)
Toby explains the idea of their payment portal and how it helps people. (13:28)
How does Toby get their product into the market? (16:46)
Toby mentions that if you don't have a good tasking system, you won't realize how much your employees are avoiding such issues. (25:09)
David, Kyle, and Toby discuss the significance of accepting all forms of communication. (29:04)
Toby explains the advantages of making the best use of technology. (41:44)
Tweetable Quotes:
“If you don't have a good tasking system, you don't realize how much your staff is avoiding that stuff.” - Toby Hansen
“When you're in the agency world, and you've been the principal, you start to understand that for every person that just doesn't want to pay their bill, there's four of them that you just need you to hold their hand to pay their bill.” - Toby Hansen
“Technology is not in the agency world to replace human interaction in the human experience. It's here to enhance human interaction in the human experience.” David Carothers
Resources Mentioned:
Toby Hansen LinkedIn
Toby Hansen Insurance Agency
GSTsoftware
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Stephen Sedlak, the Vice President of Schmale Insurance Agency. Stephen talks about how he gets new business and how his experience with ADP helped prepare him for what he does now.Episode Highlights:Stephen shares his background. (3:17)What is one thing Stephen still uses now that he would not have gotten if he hadn't been with the training? (5:23)Stephen explains how using humor can help win an appointment. (7:23)Stephen discusses why he prefers face-to-face interactions more than phone calls. (9:03)Stephen mentions that cold calling is still one of the primary ways he gets new clients. (17:48)What is Stephen's favorite icebreaker? (19:19)Tweetable Quotes:“One of my biggest drivers of how I still get new businesses is cold calling and it's been 10 years I've been in the game and cold calling or cold drops, however you want to look at it, is still a big part of how I do it.” - Stephen Sedlak“If you're going to wait for everything to come to you, you'll go dead, you’ve got to go out and find it and bring it in.” - Stephen Sedlak“You don't have to be a full on comedian, you just need a kind of icebreaker, to get them to talk with you and relate with you as a person not to somebody coming in there trying to sell them something.” Kyle HouckResources Mentioned:Stephen SedlakSchmale Insurance AgencyDavid Carothers LinkedInKyle Houck LinkedInFlorida Risk PartnersThe Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Bradley Flowers, Founder of Portal Insurance & Co-Host of The Insurance Guys Podcast. Bradley tells us all about the upcoming One City World Tour, including its purpose, the roster of speakers, and the activities that conference attendees can anticipate.
Episode Highlights:
Bradley notes that they opted to have the event during the week, on January 18th and 19th, so that guests may still enjoy their family day on the weekends. (9:03)
David explains that the most difficult part of organizing a conference is keeping everyone's attention and keeping them interested throughout. (10:44)
Bradley shares some of the challenges of being a speaker and one speaker he thinks is really effective. (17:25)
Bradley mentions that they made a mistake last year by having too many speakers and not leaving enough time for networking, so they're doing the opposite this year. (20:42)
David mentions that CoverWhale has been very effective for his agency. (31:25)
Bradley shares how he advises his team to respond when a client is upset with them. (43:42)
Bradley provides more details about the speakers and vendors who will be at the One City Conference. (46:01)
Bradley talks about how they tried to get Joe Rogan to come to the One City Conference. (48:09)
Bradley explains how they created a solution for agents writing pet insurance, making it easy to write with a competitive commission. (51:51)
Bradley shares that he always seeks to cover families since, historically, families purchase additional lines of insurance. (57:59)
Tweetable Quotes:
“One mistake we made last year is we had so many speakers that we did not leave enough room for networking. So this year, we're kind of doing the opposite. And we were purposefully having networking times and that sort of thing. We've got some pretty cool ideas and stuff that's gonna give some people who don't come to some serious FOMO. So it'll be a lot of fun.” - Bradley Flowers
“The reason a lot of people want to insure families is because traditionally, typically, families have extra lines of insurance they buy.” - Bradley Flowers
“I tell my team all the time, if somebody's upset with you, don't get offended. Like, don't let them cuss you out. To me, that's like the bar. But you’ve got to let them vent a little bit. Everybody hates insurance. Even me, right?“ - Bradley Flowers
Resources Mentioned:
Bradley Flowers LinkedIn
Portal Insurance
The Insurance Guys Podcast
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Elliott Bassett, Partner and Chief Operating Officer at Ellerbrock-Norris. Elliott shares how he developed "Launch", a new tool for producers that fills a significant need in the industry and is critical for any producer or agency owner to consider.
Episode Highlights:
Elliott explains that Ellerbrock-Norris is a 116-year-old company in Nebraska that implemented a new kind of sales procedure six or seven years ago. (3:37)
Elliott mentions that those in insurances used to be able to differentiate themselves with a different carrier or a different program but that no longer is the case. (11:25)
Elliott explains that agency owners and producers must focus on the value they provide outside of the insurance product. (17:54)
Elliott shares that asking a better question will lead to an opportunity to add value. (21:12)
Elliott mentions that he sees a lot of firms who want to improve their defined sales process, create more consistency, and know that by doing so, they will be able to differentiate and win more business from their clients. (26:32)
Elliott explains how individuals should think about risk in terms of cyber security, as well as how they should think about onboarding and recruiting procedures. (35:08)
Elliott discusses how to quantify the client's risk and the importance of making it tangible. (47:45)
Elliott mentions that the premium is often viewed as the scorecard by policyholders and shares why it’s important to give them something else to use as a scorecard. (53:01)
Elliott argues that client preparation is an important factor in the sales process that is sometimes disregarded. (58:16)
Tweetable Quotes:
“It's just getting the message out of what we're doing. We feel like we've built something that's pretty cool that solves a pretty big need in the industry that people outside of us have.” - Elliott Bassett
“We need to focus around, what is the value we're bringing outside of the insurance product? Because as we just said, you know, outside of maybe Erie and auto owners, the carrier's not the differentiator anymore, we have to build our value props.” - Elliott Bassett
“I'm always happy to jump on and talk to people about, you know, the sales process in general about Launch. I just love getting this message out. I think it's where the industry is going. I think we all need to be working towards that in our industry and looking forward to any of those discussions we want to have. ” - Elliott Bassett
Resources Mentioned:
Elliott Bassett LinkedIn
Ellerbrock-Norris
Launch
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Elliot Bassett, Partner and Chief Operating Officer at Ellerbrock-Norris. Elliot shares how he developed "Launch", a new tool for producers that fills a significant need in the industry and is critical for any producer or agency owner to consider.
Episode Highlights:
Elliot explains that Ellerbrock-Norris is a 116-year-old company in Nebraska that implemented a new kind of sales procedure six or seven years ago. (3:37)
Elliot mentions that those in insurances used to be able to differentiate themselves with a different carrier or a different program but that no longer is the case. (11:25)
Elliot explains that agency owners and producers must focus on the value they provide outside of the insurance product. (17:54)
Elliot shares that asking a better question will lead to an opportunity to add value. (21:12)
Elliot mentions that he sees a lot of firms who want to improve their defined sales process, create more consistency, and know that by doing so, they will be able to differentiate and win more business from their clients. (26:32)
Elliot explains how individuals should think about risk in terms of cyber security, as well as how they should think about onboarding and recruiting procedures. (35:08)
Elliot discusses how to quantify the client's risk and the importance of making it tangible. (47:45)
Elliot mentions that the premium is often viewed as the scorecard by policyholders and shares why it’s important to give them something else to use as a scorecard. (53:01)
Elliot argues that client preparation is an important factor in the sales process that is sometimes disregarded. (58:16)
Tweetable Quotes:
“It's just getting the message out of what we're doing. We feel like we've built something that's pretty cool that solves a pretty big need in the industry that people outside of us have.” - Elliot Bassett
“We need to focus around, what is the value we're bringing outside of the insurance product? Because as we just said, you know, outside of maybe Erie and auto owners, the carrier's not the differentiator anymore, we have to build our value props.” - Elliot Bassett
“I'm always happy to jump on and talk to people about, you know, the sales process in general about Launch. I just love getting this message out. I think it's where the industry is going. I think we all need to be working towards that in our industry and looking forward to any of those discussions we want to have. ” - Elliot Bassett
Resources Mentioned:
Elliot Bassett LinkedIn
Ellerbrock-Norris
Launch
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Crystal Ware. David, Kyle, and Crystal discuss their better halves’ successes and motivations, and the importance of being coachable.
Episode Highlights:
Crystal asks David if her wife’s success drives him to compete better. (1:49)
David and Kyle share what they see in their wives that makes them think they are going to be successful in insurance. (6:19)
Kyle shares that coaching and being coachable play a big part in life. (11:03)
David shares about his time coaching sports for 3 seasons. (13:35)
David asks Crystal what led her to believe that she will be successful in insurance and what advice she would share to other women looking to get into the industry. (18:52)
David tells a story about his wife’s marathon experience. (20:06)
Crystal gives her advice to females that have just started in the industry. (23:45)
David states that he believes skills are completely transferable. (25:21)
Tweetable Quotes:
“Help them come to the conclusion, but don't tell them...that's the way people learn and grow. And that's what we have to do as good mentors, good bosses, good agency owners.” Crystal Ware
“If you can commit and make a plan, it's goal orientation. 100%. Anybody can complete a marathon. You have to be willing to do the work to get there. “ - Crystal Ware
“I want them to make decisions and understand the consequences and rewards that come from decisions.” - David Carothers
Resources Mentioned:
Crystal Ware LinkedIn
Empower Benefits & Insurance Group
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Christopher Culin Tate, Real Estate Investor and Author. Culin shares a few of the proven strategies from his book, Host Coach, aimed to help individuals be successful in short-term rental investment.
Episode Highlights:
Culin describes himself as a serial entrepreneur who has owned businesses such as manufacturing and software, but his interest in real estate made him devoted to real estate investing in 2018. (2:39)
Culin shares that he saw an opportunity with Airbnb because of their small cabin, which was originally intended for family, but later allowed their friends to stay, as well as friends of friends that quickly became fully booked. (5:28)
Culin discusses the importance of going the extra mile, thinking like a business person, and thinking like you're in the hospitality industry in order to make your listing perfect. (12:14)
Culin talks aobut not accepting one-night reservations and shares two effective strategies for convincing guests to book for more than one night. (18:29)
Culin explains that having multiple platforms is not recommended as it results in fewer views. (21:24)
Culin advises people interested in investing in real estate to find their way and understand how it will fit their particular passion. (31:48)
Culin encourages listeners to subscribe to a tool called AirDNA, which will assist them in determining whether or not a market is viable. (35:43)
Culin encourages people who are looking to buy a home to find an agent who can help them research things like regulations at the state, county, municipality, or even HOA level information. (41:31)
Culin discusses how he came up with the idea of organizing his 90-minute outline for a presentation that shares real-life stories and processes for finding a property step by step, which became the outline for his book. (43:33)
Culin shares how private and public rental feedback can differ from guests. (48:29)
Tweetable Quotes:
"The most profitable properties are going to be the ones to get booked the most. And to get booked the most, you’ve got to get shown the most." - Christopher Culin Tate
"Don't chase the hot market. Chase your passion, chase where you would like to go and spend some time." - Christopher Culin Tate
"The tips and tricks that we do to scale our business, it's all in there and we wrote it. Like anybody who has written a book, you don't make millions of dollars selling books, you help people and it gives you a good platform to help more people." - Christopher Culin Tate
Resources Mentioned:
Christopher Culin Tate LinkedIn
Host Coach
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Jason Rodriguez, CEO and the Owner of Prominent Insurance Service. Jason discusses why he chose a franchise model to expand his agency and how they are providing opportunities for minorities to join the industry in the process.
Episode Highlights:
Jason explains that his transportation company is what brought him into the insurance industry. (4:12)
Jason discusses the difficulties he faced when he first started out in the insurance industry, and what he did to build relationships with his clients and earn their business. (9:45)
Jason explains that he had no idea chargeback was such a big deal in the insurance industry at first. (11:47)
Jason shares why he would choose franchising over simply opening new offices in other areas. (18:02)
Jason discusses the factors that make it difficult for minorities to enter the middle market and how he is trying to help increase diversity in that sector. (25:46)
Jason explains that they are currently focused on areas they know they can win but as their firm grows and their resources expand, they will be able to go after larger businesses with more success. (33:40)
Jason discusses what to consider when opening a franchise for a well-known insurance company. (37:45)
Jason mentions that the key to starting a franchise is to be on the same playing field and have the same mindset. (40:25)
Jason expresses his desire to build and create communities, as well as to give the insurance industry more leverage and raise awareness of how good the insurance industry is. (42:06)
Jason advises those interested in entering the insurance industry to find a mentor who is willing to provide accurate information and guide them. (46:35)
Tweetable Quotes:
"I was a scratch agency, just an entrepreneur with no prior mentorship. And, I know the hurdles I had to go over, what I had to be able to obtain, and get to where I'm at today." - Jason Rodriguez
"When you know you are the minority in America and everybody else is doing business, it's really difficult sometimes to get them to understand, like, hey, we can do the same thing that they can do, just give us a shot, let us perform, and deliver on the promises that we say we're going to deliver." - Jason Rodriguez
"As we grow our firm and get bigger and bigger with resources, then we can probably go after those and have more success. But, right now we’re just gonna concentrate on where we know we can get some wins." - Jason Rodriguez
Resources Mentioned:
Jason Rodriguez LinkedIn
Prominent Insurance Service
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Crystal Ware. David, Kyle, and Crystal discuss their motivations, goals, fears, and challenges in their journey.
Episode Highlights:
Crystal believes that making money as a motive is not a bad thing. (3:15)
David talks about his goal setting and motivation. (3:36)
Crystal explains why she decided to start her own agency with David. (3:35)
David says that from an entrepreneurial perspective, he’s absolutely fearless. (9:15)
David states that he is a competitive person. (13:45)
Crystal talks about her fear when it comes to producing. (15:37)
Crystal gives advice to anybody interested in opening a solely personal line, boutique agency. (20:22)
Crystal discusses the difficulties she has encountered on her path. (21:21)
David explains why he thinks that if you're responsible for a larger team, it's easier. (24:48)
Crystal talks about how difficult it is to hire employees. (26:32)
Tweetable Quotes:
“I don't think it's wrong to set goals for material things if you're going to reward yourself for doing your job at a very high level.” - David Carothers
“From an entrepreneurial perspective, I am absolutely fearless. I will try anything.” - David Carothers
“Hiring can be a challenge. You’ve always just got to keep your eyes open and be ready when a good person is available.” - Crystal Ware
Resources Mentioned:
Crystal Ware LinkedIn
Empower Benefits & Insurance Group
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews Sean Castrina, the host of The Ten Minute Entrepreneur podcast and best-selling author and entrepreneur. Sean talks about his writing process and shares valuable insight into becoming a successful entrepreneur.
Episode Highlights:
Sean introduces himself and shares a bit about his background. (1:13)
Sean explains that writing books has allowed him to examine what has worked and failed in his businesses and share that with others. (4:47)
David shares about his online ecosystem that trains commercial insurance producers, as well as the importance of writing a business plan. (10:17)
Sean explains how to conduct interviews and how communication is the key to success. (13:10)
Sean and David discuss that in order to be successful, you need to think in a different way than most people think because millionaires have the same mindset and that is why they achieve success. (17:46)
Sean recalls a speech he gave at a college, where he advised the graduating students to do two things in order to become millionaires later in life. (21:16)
Sean shares his experience of the first time he witnessed obscene wealth. (28:06)
Sean discusses an experience he had in college as a wrestling athlete, the pain he went through, and what he did to overcome it. (29:13)
David mentions that the experience Sean went through is what led to his mentality to be successful as an entrepreneur. (34:09)
Sean and David discuss a book by Chris Voss titled "Never Split the Difference". (36:00)
Sean shares with listeners how they can get a free copy of his book, 8 Unbreakable Business Rules for Business Startup Success. (40:05)
Tweetable Quotes:
"I think that the type of person dictates the great degree of the success that any organization will have." - Sean Castrina
"If you can communicate well, like, you know, in entrepreneurship, wow. You know, it changes the game because you're constantly, you know, either selling and or resolving conflict." - Sean Castrina
"I speak at colleges. And I always tell them, listen, every single person in this audience, you know… I can make you a millionaire if you just do two things. Now, I'm not going to make you a millionaire in 10 years, but I can guarantee that I'll make you a millionaire." - Sean Castrina
Resources Mentioned:
Sean Castrina LinkedIn
8 Unbreakable Business Rules for Business Startup Success
Never Split the Difference
The Ten Minute Entrepreneur podcast
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews Sean Castrina, the host of The Ten Minute Entrepreneur podcast and best-selling author and entrepreneur. Sean talks about his writing process and shares valuable insight into becoming a successful entrepreneur.
Episode Highlights:
Sean introduces himself and shares a bit about his background. (1:13)
Sean explains that writing books has allowed him to examine what has worked and failed in his businesses and share that with others. (4:47)
David shares about his online ecosystem that trains commercial insurance producers, as well as the importance of writing a business plan. (10:17)
Sean explains how to conduct interviews and how communication is the key to success. (13:10)
Sean and David discuss that in order to be successful, you need to think in a different way than most people think because millionaires have the same mindset and that is why they achieve success. (17:46)
Sean recalls a speech he gave at a college, where he advised the graduating students to do two things in order to become millionaires later in life. (21:16)
Sean shares his experience of the first time he witnessed obscene wealth. (28:06)
Sean discusses an experience he had in college as a wrestling athlete, the pain he went through, and what he did to overcome it. (29:13)
David mentions that the experience Sean went through is what led to his mentality to be successful as an entrepreneur. (34:09)
Sean and David discuss a book by Chris Voss titled "Never Split the Difference". (36:00)
Sean shares with listeners how they can get a free copy of his book, 8 Unbreakable Business Rules for Business Startup Success. (40:05)
Tweetable Quotes:
"I think that the type of person dictates the great degree of the success that any organization will have." - Sean Castrina
"If you can communicate well, like, you know, in entrepreneurship, wow. You know, it changes the game because you're constantly, you know, either selling and or resolving conflict." - Sean Castrina
"I speak at colleges. And I always tell them, listen, every single person in this audience, you know… I can make you a millionaire if you just do two things. Now, I'm not going to make you a millionaire in 10 years, but I can guarantee that I'll make you a millionaire." - Sean Castrina
Resources Mentioned:
Sean Castrina LinkedIn
8 Unbreakable Business Rules for Business Startup Success
Never Split the Difference
The Ten Minute Entrepreneur podcast
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Nathan Christensen, CEO of Mineral, and Diane Haines, Chief Product and Marketing Officer at Mineral. Nathan and Diane talk about how Mineral is using technology, content, and expertise to provide innovative HR and compliance solutions to their partners and clients.
Episode Highlights:
Nathan shares his background and what Mineral is all about. (2:30)
Nathan explains why they decided to rebrand in order to capitalize on their strengths while merging two companies. (7:25)
Nathan explains that the goal for naming the company Mineral was to be an essential ingredient in the success of both their partners and customers. (11:10)
Nathan shares his excitement for their "Mineral Intelligence" product, which provides clients with predictive, personalized insight. (15:24)
Nathan explains compliance has become increasingly important in the industry and technology is starting to catch up and solve it. (19:03)
Diane shares that they chose to focus on safety products to keep their customers, who are small and medium-sized businesses, safe and secure. (26:32)
Diane mentions that they still offer both resources and guidance in HR and compliance but are now integrated with added safety features. (28:57)
Diane explains that having access to an expert can help clients feel more comfortable. (32:51)
Diane mentions some of the focus that they have in the future for HR compliance is centered around local policies and employee engagement. (39:05)
Tweetable Quotes:
"We are an essential ingredient for both our partner and our customer success. And we are working every day to help them build healthier organizations." - Nathan Christensen
"The more complex this compliance environment gets, that's where we're really going to dig in, you're going to see us really try to get ahead of that for our partners and clients so that they're not caught on the back foot." - Diane Haines
"The next frontier for our company is predictive, personalized insight for clients, a product we call Mineral Intelligence." - Nathan Christensen
Resources Mentioned:
Nathan Christensen LinkedIn
Diane Haines LinkedIn
Mineral
David Carothers
Kyle Houck
Florida Risk Partners
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Nathan Christensen, CEO of Mineral, and Diane Haines, Chief Product and Marketing Officer at Mineral. Nathan and Diane talk about how Mineral is using technology, content, and expertise to provide innovative HR and compliance solutions to their partners and clients.
Episode Highlights:
Nathan shares his background and what Mineral is all about. (2:30)
Nathan explains why they decided to rebrand in order to capitalize on their strengths while merging two companies. (7:25)
Nathan explains that the goal for naming the company Mineral was to be an essential ingredient in the success of both their partners and customers. (11:10)
Nathan shares his excitement for their "Mineral Intelligence" product, which provides clients with predictive, personalized insight. (15:24)
Nathan explains compliance has become increasingly important in the industry and technology is starting to catch up and solve it. (19:03)
Diane shares that they chose to focus on safety products to keep their customers, who are small and medium-sized businesses, safe and secure. (26:32)
Diane mentions that they still offer both resources and guidance in HR and compliance but are now integrated with added safety features. (28:57)
Diane explains that having access to an expert can help clients feel more comfortable. (32:51)
Diane mentions some of the focus that they have in the future for HR compliance is centered around local policies and employee engagement. (39:05)
Tweetable Quotes:
"We are an essential ingredient for both our partner and our customer success. And we are working every day to help them build healthier organizations." - Nathan Christensen
"The more complex this compliance environment gets, that's where we're really going to dig in, you're going to see us really try to get ahead of that for our partners and clients so that they're not caught on the back foot." - Diane Haines
"The next frontier for our company is predictive, personalized insight for clients, a product we call Mineral Intelligence." - Nathan Christensen
Resources Mentioned:
Nathan Christensen LinkedIn
Diane Haines LinkedIn
Mineral
David Carothers
Kyle Houck
Florida Risk Partners
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Crystal Ware. David, Kyle, and Crystal share insight into the power and importance of having more women in the insurance industry.
Episode Highlights:
David shares insights about earning a great weekend. (1:26)
David discusses how things are when he is not at work. (4:17)
Crystal explains why there are so few women working in the insurance industry. (10:11)
David explores the issue of women and minorities working as producers in the insurance industry. (16:31)
Crystal explains how she overcame adversity to get her dream job. (19:26)
David tells a story about his time at the St. Louis airport. (22:36)
David went into detail about how he chose The Protégé. (24:42)
Crystal responds to the question of who is the best teacher and who is more patient in her household. (28:26)
Female success in the sector is highlighted by David and Crystal. (29:30)
David summarizes the importance of minority and female producers to be part of the industry. (31:54)
Tweetable Quotes:
“Ladies, just stand up and raise your hand. And don't be afraid to say I'm going to give this a whirl and seek out mentors, seek out people to help shepherd you and say, “This is what I want to do.” Honestly, that's what I've done throughout my career.” - Crystal Ware
“If your perspective is right, and you focus on the content that makes up the person, you know, whether they're male or female is really kind of irrelevant.” - David Carothers
“I want to run a show where those people will feel comfortable to apply because they have the right skill set and the drive to achieve it.” - David Carothers
Resources Mentioned:
Crystal Ware LinkedIn
Empower Benefits & Insurance Group
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Crystal Ware. David, Kyle, and Crystal share insight into the power and importance of having more women in the insurance industry.
Episode Highlights:
David shares insights about earning a great weekend. (1:26)
David discusses how things are when he is not at work. (4:17)
Crystal explains why there are so few women working in the insurance industry. (10:11)
David explores the issue of women and minorities working as producers in the insurance industry. (16:31)
Crystal explains how she overcame adversity to get her dream job. (19:26)
David tells a story about his time at the St. Louis airport. (22:36)
David went into detail about how he chose The Protégé. (24:42)
Crystal responds to the question of who is the best teacher and who is more patient in her household. (28:26)
Female success in the sector is highlighted by David and Crystal. (29:30)
David summarizes the importance of minority and female producers to be part of the industry. (31:54)
Tweetable Quotes:
“Ladies, just stand up and raise your hand. And don't be afraid to say I'm going to give this a whirl and seek out mentors, seek out people to help shepherd you and say, “This is what I want to do.” Honestly, that's what I've done throughout my career.” - Crystal Ware
“If your perspective is right, and you focus on the content that makes up the person, you know, whether they're male or female is really kind of irrelevant.” - David Carothers
“I want to run a show where those people will feel comfortable to apply because they have the right skill set and the drive to achieve it.” - David Carothers
Resources Mentioned:
Crystal Ware LinkedIn
Empower Benefits & Insurance Group
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Steve Munn of MAI Risk Advisors. Steve discusses how they have developed their company culture at MAI Risk Advisors and offers advice for new producers entering the industry.
Episode Highlights:
Steve shares about his background growing up in Western Canada. (2:21)
Steve explains he didn’t start in the insurance industry, and the first actual job he had was selling industrial supplies. (10:51)
Steve mentions that one of the biggest surprises for him after entering the insurance industry was the difficulty of the job at first, but as he learned, he just aimed to keep getting better. (16:10)
Steve shares that one thing he learned from playing sports that he applied in the industry was to build a great relationship with his team. (19:22)
Steve mentions that one of the most difficult challenges in terms of office culture is finding the right people. (24:31)
Steve shares that their current business profile at the agency is 80% commercial wich includes niches like real estate developers, churches, construction, nonprofits and private schools. (26:36)
Steve discusses the concept of the Industrial Network Group, a group he established for the manufacturing and industrial sectors. (29:50)
Steve encourages people who are new to the producer role or are just starting out in the industry to invest in themselves and keep learning. (37:54)
Steve explains that we've done our industry a huge disservice by teaching people to shop based on price where everyone is looking only at the bottom line and not at the actual details of what is and isn’t included in the policy. (45:16)
Steve mentions that they are currently working on creating social media marking videos. (49:45)
Tweetable Quotes:
"I really focus on my relationships with my account managers. I always express gratitude. I always thank them, you know, whether it's a huge deal or a small deal. It's still important. I try and be a good teammate." - Steve Munn
"I love connecting people. I love opening doors for people. It's fun to see other people succeed and you know, eventually, they return the favor, hopefully." - Steve Munn
"I want to be the guy my team relies on, right? And so, getting, doubling and tripling down on educational work really kind of gave me a lot of confidence." - Steve Munn
Resources Mentioned:
Steve Munn LinkedIn
MAI Risk Advisors
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Steve Munn of MAI Risk Advisors. Steve discusses how they have developed their company culture at MAI Risk Advisors and offers advice for new producers entering the industry.
Episode Highlights:
Steve shares about his background growing up in Western Canada. (2:21)
Steve explains he didn’t start in the insurance industry, and the first actual job he had was selling industrial supplies. (10:51)
Steve mentions that one of the biggest surprises for him after entering the insurance industry was the difficulty of the job at first, but as he learned, he just aimed to keep getting better. (16:10)
Steve shares that one thing he learned from playing sports that he applied in the industry was to build a great relationship with his team. (19:22)
Steve mentions that one of the most difficult challenges in terms of office culture is finding the right people. (24:31)
Steve shares that their current business profile at the agency is 80% commercial wich includes niches like real estate developers, churches, construction, nonprofits and private schools. (26:36)
Steve discusses the concept of the Industrial Network Group, a group he established for the manufacturing and industrial sectors. (29:50)
Steve encourages people who are new to the producer role or are just starting out in the industry to invest in themselves and keep learning. (37:54)
Steve explains that we've done our industry a huge disservice by teaching people to shop based on price where everyone is looking only at the bottom line and not at the actual details of what is and isn’t included in the policy. (45:16)
Steve mentions that they are currently working on creating social media marking videos. (49:45)
Tweetable Quotes:
"I really focus on my relationships with my account managers. I always express gratitude. I always thank them, you know, whether it's a huge deal or a small deal. It's still important. I try and be a good teammate." - Steve Munn
"I love connecting people. I love opening doors for people. It's fun to see other people succeed and you know, eventually, they return the favor, hopefully." - Steve Munn
"I want to be the guy my team relies on, right? And so, getting, doubling and tripling down on educational work really kind of gave me a lot of confidence." - Steve Munn
Resources Mentioned:
Steve Munn LinkedIn
MAI Risk Advisors
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Walt Goshert, Insurance LinkedIn Expert and Independent Marketing Consultant. Walt discusses using the power of LinkedIn to build relationships and close sales and why it’s important to shift your mindset from chasing clients to attracting clients.
Episode Highlights:
Walt discusses his transition from being a broker to helping salespeople be more prominent on LinkedIn. (2:45)
Walt mentions that one opportunity you can get from LinkedIn is the ability to build a great relationship and close a sale. (10:31)
Walt explains that it is important to set the stage before asking any expectation questions to a client because otherwise, you would be viewed as a salesperson rather than an advisor. (15:15)
Walt mentions that when it comes to prospecting, the thing that repels people more than anything is seeing the desperation in an agent. (22:42)
Walt mentions that the proper mindset in this business is not to chase clients but to attract them instead. (28:34)
Walt explains that even if CEOs and CFOs are not interacting on LinkedIn, that does not mean that they are not paying attention. (34:56)
Walt shares that one of the sole reasons he invested in Sales Navigator is to know how much the content is resulting in profile visits. (44:45)
Walt mentions that knowing your market, building content by commenting, and doing it consistently are three things salespeople should do on LinkedIn. (50:15)
Walt explains the funnel strategy in creating content for a buyer's journey, and that is awareness, solution, and why they should hire you. (55:59)
Walt shares that he thinks that LinkedIn is becoming more of a factor in the middle market, and it is the perfect time to create content for this market. (59:20)
Tweetable Quotes:
"With LinkedIn, or online, you have the ability to communicate one to many. You're able to leverage what you know, what your authority is, and how you can create value." - Walt Goshert
"It's a case of taking that extra two minutes and doing it, you know, dropping in some comments before you do the connection request, send that after they connect, send that voice note or a video with a welcome message, so you stand out in their inbox as a real person." - Walt Goshert
“I think it kind of diminishes the value of the relationship, you know, it doesn't position you as that authority as that trusted authority, if you're constantly in the chase mode.” - Walt Goshert
Resources Mentioned:
Walt Goshert LinkedIn
Client Attraction Engine
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Walt Goshert, Insurance LinkedIn Expert and Independent Marketing Consultant. Walt discusses using the power of LinkedIn to build relationships and close sales and why it’s important to shift your mindset from chasing clients to attracting clients.
Episode Highlights:
Walt discusses his transition from being a broker to helping salespeople be more prominent on LinkedIn. (2:45)
Walt mentions that one opportunity you can get from LinkedIn is the ability to build a great relationship and close a sale. (10:31)
Walt explains that it is important to set the stage before asking any expectation questions to a client because otherwise, you would be viewed as a salesperson rather than an advisor. (15:15)
Walt mentions that when it comes to prospecting, the thing that repels people more than anything is seeing the desperation in an agent. (22:42)
Walt mentions that the proper mindset in this business is not to chase clients but to attract them instead. (28:34)
Walt explains that even if CEOs and CFOs are not interacting on LinkedIn, that does not mean that they are not paying attention. (34:56)
Walt shares that one of the sole reasons he invested in Sales Navigator is to know how much the content is resulting in profile visits. (44:45)
Walt mentions that knowing your market, building content by commenting, and doing it consistently are three things salespeople should do on LinkedIn. (50:15)
Walt explains the funnel strategy in creating content for a buyer's journey, and that is awareness, solution, and why they should hire you. (55:59)
Walt shares that he thinks that LinkedIn is becoming more of a factor in the middle market, and it is the perfect time to create content for this market. (59:20)
Tweetable Quotes:
"With LinkedIn, or online, you have the ability to communicate one to many. You're able to leverage what you know, what your authority is, and how you can create value." - Walt Goshert
"It's a case of taking that extra two minutes and doing it, you know, dropping in some comments before you do the connection request, send that after they connect, send that voice note or a video with a welcome message, so you stand out in their inbox as a real person." - Walt Goshert
“I think it kind of diminishes the value of the relationship, you know, it doesn't position you as that authority as that trusted authority, if you're constantly in the chase mode.” - Walt Goshert
Resources Mentioned:
Walt Goshert LinkedIn
Client Attraction Engine
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
It’s Cyber Awareness Month and in this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck share their Number 1 hack for writing Cyber in bulk.
Episode Highlights:
David explains that Managed Services Providers "MSP’s" are one of the areas where we have the ability to generate opportunities right now. (2:11)
Kyle believes that there are a number of MSP’s that assume they know more than everyone else just because they are IT professionals who understand how things operate and how to defend themselves. (3:36)
Kyle shares his observation that several MSPs perform a variety of other things, such as installing security cameras, alarm systems, key fobs, and gate stuff. (6:45)
David explains that KPA is significant because it has a certificate-tracking function, and utilizing a certificate as a lead source is important. (8:28)
David mentions that we simply need to take a breather and look around to find opportunities to write new business. (13:06)
David discusses that the number one hack for writing cyber in bulk is to review the master services agreement for managed services providers or anybody else and inform them that your risk management recommendation is that their clients have Cyber. (14:12)
Tweetable Quotes:
“People, if you're not using certificates as a lead source, you are missing the boat.” - David Carothers
“We just got to stop and breathe and look around. If we do, we're going to find every opportunity we can to write new business, and that is it.” - David Carothers
“Review the Master Services Agreement for Managed Services Providers or anybody else. Tell them that your risk management recommendation that their clients have cyber and sit back and let the leads roll in." - David Carothers
Resources Mentioned:
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
It’s Cyber Awareness Month and in this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck share their Number 1 hack for writing Cyber in bulk.
Episode Highlights:
David explains that Managed Services Providers "MSP’s" are one of the areas where we have the ability to generate opportunities right now. (2:11)
Kyle believes that there are a number of MSP’s that assume they know more than everyone else just because they are IT professionals who understand how things operate and how to defend themselves. (3:36)
Kyle shares his observation that several MSPs perform a variety of other things, such as installing security cameras, alarm systems, key fobs, and gate stuff. (6:45)
David explains that KPA is significant because it has a certificate-tracking function, and utilizing a certificate as a lead source is important. (8:28)
David mentions that we simply need to take a breather and look around to find opportunities to write new business. (13:06)
David discusses that the number one hack for writing cyber in bulk is to review the master services agreement for managed services providers or anybody else and inform them that your risk management recommendation is that their clients have Cyber. (14:12)
Tweetable Quotes:
“People, if you're not using certificates as a lead source, you are missing the boat.” - David Carothers
“We just got to stop and breathe and look around. If we do, we're going to find every opportunity we can to write new business, and that is it.” - David Carothers
“Review the Master Services Agreement for Managed Services Providers or anybody else. Tell them that your risk management recommendation that their clients have cyber and sit back and let the leads roll in." - David Carothers
Resources Mentioned:
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Tyler Reitz, Vice President of Commercial Lines at Bowman's Insurance Agency. Tyler shares the perspective he gained from working in underwriting and how that has helped him find common ground with underwriters now that he is on the agency side.
Episode Highlights:
Tyler shares his background and how he got into the insurance industry. (2:44)
Tyler mentions that he has been able to build a relationship with underwriters that helps him in the business. (11:19)
Tyler explains that a lot of agencies are pushing to get the business on the books while missing out on making it attractive to underwriters. (14:43)
Tyler mentions that Bowman's Insurance Agency focuses on a wide variety of programs in municipalities, but the goal this year is to target larger accounts. (22:20)
Tyler describes his experience with an underwriter and advises someone new to the industry to do research and always know what to look for upfront. (25:40)
Tyler recalls a time when he was on the underwriting side of things in a broker record situation with five agents. (30:43)
Tyler shares that he has learned a lot of things since moving from a producer role to a partnership role. (39:27)
Tyler explains that anybody that wants to take over an agency wants to make changes in certain areas from the way things were done and make it better. (45:36)
Tweetable Quotes:
"I think anybody taking over an agency would like to make definite changes in certain areas from the way things were done. I feel like that's the reason why you tried to want to take over an agency because you wanted to improve upon it." - Tyler Reitz
"I'm more of a generalist. Now, do I have some industries that I do very well in? Absolutely, where it's just kind of by association and working on referrals." - Tyler Reitz
"In the past, I was only focused on my book and doing what I needed to do for my clients. Now there's a whole other aspect of, now, you got all the different things of employees, all the administrative that comes with running an agency that takes up a lot of time. There's a lot more moving parts. So, that's the biggest learning curve for me." - Tyler Reitz
Resources Mentioned:
Tyler Reitz LinkedIn
Bowman's Insurance Agency
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Tyler Reitz, Vice President of Commercial Lines at Bowman's Insurance Agency. Tyler shares the perspective he gained from working in underwriting and how that has helped him find common ground with underwriters now that he is on the agency side.
Episode Highlights:
Tyler shares his background and how he got into the insurance industry. (2:44)
Tyler mentions that he has been able to build a relationship with underwriters that helps him in the business. (11:19)
Tyler explains that a lot of agencies are pushing to get the business on the books while missing out on making it attractive to underwriters. (14:43)
Tyler mentions that Bowman's Insurance Agency focuses on a wide variety of programs in municipalities, but the goal this year is to target larger accounts. (22:20)
Tyler describes his experience with an underwriter and advises someone new to the industry to do research and always know what to look for upfront. (25:40)
Tyler recalls a time when he was on the underwriting side of things in a broker record situation with five agents. (30:43)
Tyler shares that he has learned a lot of things since moving from a producer role to a partnership role. (39:27)
Tyler explains that anybody that wants to take over an agency wants to make changes in certain areas from the way things were done and make it better. (45:36)
Tweetable Quotes:
"I think anybody taking over an agency would like to make definite changes in certain areas from the way things were done. I feel like that's the reason why you tried to want to take over an agency because you wanted to improve upon it." - Tyler Reitz
"I'm more of a generalist. Now, do I have some industries that I do very well in? Absolutely, where it's just kind of by association and working on referrals." - Tyler Reitz
"In the past, I was only focused on my book and doing what I needed to do for my clients. Now there's a whole other aspect of, now, you got all the different things of employees, all the administrative that comes with running an agency that takes up a lot of time. There's a lot more moving parts. So, that's the biggest learning curve for me." - Tyler Reitz
Resources Mentioned:
Tyler Reitz LinkedIn
Bowman's Insurance Agency
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Rob Schmidt, Senior Vice President and Director of Business Development at Seltzer Group Partners. Rob discusses what Seltzer Group Partners is and how being a member of Keystone Insurance Group allows them to provide their clients with high-quality solutions and services through its network of reliable business partners.
Episode Highlights:
Rob shares his background and how he got to where he is today. (3:30)
Rob shares a story about a client's employee on a trucking company that had an accident and a denied claim. (6:31)
Rob explains that the Seltzer Group Partners is structured as 60% commercial, 30% personal, and 10% benefits. (13:38)
Rob mentions that some of the challenges they have faced this year are related to software, hardware, and supply chain issues. (17:31)
Rob shares more information about how it works to be a Keystone agency partner. (21:11)
Rob discusses how they have used the Culture Wise platform to establish what they believe in and what they want to do everyday. (25:27)
Rob believes that the process of bringing a newly acquired agency to the company usually starts with the management team going to the new company for meet and greet sessions. (32:00)
Rob explains the challenges of continuing to meet organic growth goals when you are acquiring agencies. (34:10)
Rob mentions that one way of persuading prospects to get involved is to explain the niche programs you have and their benefits and to build relationships. (36:10)
Rob believes that the industry needs more insurance agencies that have great salespeople that also want to succeed. (41:21)
Tweetable Quotes:
“I always like to educate my customers... And it's amazing that nine times out of ten, they look at you like they've never been told this and they've been in business for decades. You know, you go in and you just explain to them. It's helpful.” - Rob Schmidt
“Keystone agency partners, I like the partnership word of it, because it really is a partnership…Every agency that becomes part of KAP, their situation can all be set different." - Rob Schmidt
“So you know, the agency side will build the relationships, you're trying to get the customers in the door. At carrier side, the good carriers, build those relationships with their agents as well.” - Rob Schmidt
Resources Mentioned:
Rob Schmidt LinkedIn
Seltzer Group Partners
Keystone Insurance Group
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Rob Schmidt, Senior Vice President and Director of Business Development at Seltzer Group Partners. Rob discusses what Seltzer Group Partners is and how being a member of Keystone Insurance Group allows them to provide their clients with high-quality solutions and services through its network of reliable business partners.
Episode Highlights:
Rob shares his background and how he got to where he is today. (3:30)
Rob shares a story about a client's employee on a trucking company that had an accident and a denied claim. (6:31)
Rob explains that the Seltzer Group Partners is structured as 60% commercial, 30% personal, and 10% benefits. (13:38)
Rob mentions that some of the challenges they have faced this year are related to software, hardware, and supply chain issues. (17:31)
Rob shares more information about how it works to be a Keystone agency partner. (21:11)
Rob discusses how they have used the Culture Wise platform to establish what they believe in and what they want to do everyday. (25:27)
Rob believes that the process of bringing a newly acquired agency to the company usually starts with the management team going to the new company for meet and greet sessions. (32:00)
Rob explains the challenges of continuing to meet organic growth goals when you are acquiring agencies. (34:10)
Rob mentions that one way of persuading prospects to get involved is to explain the niche programs you have and their benefits and to build relationships. (36:10)
Rob believes that the industry needs more insurance agencies that have great salespeople that also want to succeed. (41:21)
Tweetable Quotes:
“I always like to educate my customers... And it's amazing that nine times out of ten, they look at you like they've never been told this and they've been in business for decades. You know, you go in and you just explain to them. It's helpful.” - Rob Schmidt
“Keystone agency partners, I like the partnership word of it, because it really is a partnership…Every agency that becomes part of KAP, their situation can all be set different." - Rob Schmidt
“So you know, the agency side will build the relationships, you're trying to get the customers in the door. At carrier side, the good carriers, build those relationships with their agents as well.” - Rob Schmidt
Resources Mentioned:
Rob Schmidt LinkedIn
Seltzer Group Partners
Keystone Insurance Group
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss how important it is to solve problems instead of selling a product because as prospects share information, the higher the chances are of being able to close a sale. Episode Highlights:
David mentions that he’s beginning to believe that many agents do not understand how to identify and solve problems their prospects have. (3:37)
David explains how to increase your ability to close a sale by identifying the problems that you could solve for prospects instead of simply selling an insurance product. (9:27)
David mentions that it is important to have an outline to avoid any complications and misunderstandings. (11:56)
David explains that if you’re not getting the support you need from your agency, then you should go work for a different agency. (16:11)
Kyle talks about how agents can lead their prospects down the path of discovery by dictating the line of questioning. (21:34)
Kyle explains that explaining too much about the technical side of things to the prospect can make them feel overwhelmed. (24:07)
David shares one of the mass marketing videos that he finds to be very effective. (25:06)
David and Kyle explain how important it is to always follow up with your prospects, as it is very rare to have a sale on the initial pitch. (28:00)
Tweetable Quotes:
"If you're not getting that kind of support, go work for a different agency. You know, I mean, I hate to say that, but that's number one." - David Carothers
"I think people have a hard time identifying how to figure out the problems. And the thing is, part of the issue is, the only solution has been to sell them insurance right?" - David Carothers
"So many times we talk about it, we beat it to death about how people are worried about selling a product instead of solving a problem." - David Carothers
Resources Mentioned:
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss how important it is to solve problems instead of selling a product because as prospects share information, the higher the chances are of being able to close a sale. Episode Highlights:
David mentions that he’s beginning to believe that many agents do not understand how to identify and solve problems their prospects have. (3:37)
David explains how to increase your ability to close a sale by identifying the problems that you could solve for prospects instead of simply selling an insurance product. (9:27)
David mentions that it is important to have an outline to avoid any complications and misunderstandings. (11:56)
David explains that if you’re not getting the support you need from your agency, then you should go work for a different agency. (16:11)
Kyle talks about how agents can lead their prospects down the path of discovery by dictating the line of questioning. (21:34)
Kyle explains that explaining too much about the technical side of things to the prospect can make them feel overwhelmed. (24:07)
David shares one of the mass marketing videos that he finds to be very effective. (25:06)
David and Kyle explain how important it is to always follow up with your prospects, as it is very rare to have a sale on the initial pitch. (28:00)
Tweetable Quotes:
"If you're not getting that kind of support, go work for a different agency. You know, I mean, I hate to say that, but that's number one." - David Carothers
"I think people have a hard time identifying how to figure out the problems. And the thing is, part of the issue is, the only solution has been to sell them insurance right?" - David Carothers
"So many times we talk about it, we beat it to death about how people are worried about selling a product instead of solving a problem." - David Carothers
Resources Mentioned:
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Taylor Young, Vice President of Personal Lines at Erb and Young Insurance. Taylor talks about the mindset people need to have to succeed and shares what it was like starting his own business at a young age.
Episode Highlights:
Taylor shares his background and what led him to the insurance industry. (2:06)
Taylor shares that he had some insecurities about starting his own business when he was only 23 years old. (4:22)
Taylor explains that one thing that he was able to apply from playing basketball to running a business is to be able to help those around him be better. (13:17)
Taylor mentions that one of the topics they talked about on the Be Extraordinary Podcast was mental toughness. (18:34)
Taylor discusses the importance of having clarity in your mindset. (25:23)
Taylor talks about how great Vince Carter is at being able to recreate himself, and the process he went through to do it. (31:48)
Taylor discusses that he is currently helping the personal lines team create their structure and framework. (32:32)
Taylor shares that one thing that they were able to do based on Killing Commercial was to implement CRM. (35:30)
Taylor explains that money is an indication of progress and represents the hard work you have put in. (43:09)
Taylor advises the listeners to get out there and market because there is great value in being a marketer before a sales professional. (44:15)
Tweetable Quotes:
"The illusion of choice is thinking that you can get that thing by doing all these other things. The reality is that's not how it works, right? If that's what you want, and you're clear on what you want, then there are certain things that you need to do." - Taylor Young
"I always just see people in our space. I do personal lines and I just believe there's value in being a marketer before a sales professional." - Taylor Young
"The difference between forecasting and looking ahead and saying, Okay, what do my six months, year, look like? Well, that probably depends on what you want. That probably depends on how much you want." - Taylor Young
Resources Mentioned:
Taylor Young LinkedIn
Erb and Young Insurance
Be Extraordinary podcast
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Taylor Young, Vice President of Personal Lines at Erb and Young Insurance. Taylor talks about the mindset people need to have to succeed and shares what it was like starting his own business at a young age.
Episode Highlights:
Taylor shares his background and what led him to the insurance industry. (2:06)
Taylor shares that he had some insecurities about starting his own business when he was only 23 years old. (4:22)
Taylor explains that one thing that he was able to apply from playing basketball to running a business is to be able to help those around him be better. (13:17)
Taylor mentions that one of the topics they talked about on the Be Extraordinary Podcast was mental toughness. (18:34)
Taylor discusses the importance of having clarity in your mindset. (25:23)
Taylor talks about how great Vince Carter is at being able to recreate himself, and the process he went through to do it. (31:48)
Taylor discusses that he is currently helping the personal lines team create their structure and framework. (32:32)
Taylor shares that one thing that they were able to do based on Killing Commercial was to implement CRM. (35:30)
Taylor explains that money is an indication of progress and represents the hard work you have put in. (43:09)
Taylor advises the listeners to get out there and market because there is great value in being a marketer before a sales professional. (44:15)
Tweetable Quotes:
"The illusion of choice is thinking that you can get that thing by doing all these other things. The reality is that's not how it works, right? If that's what you want, and you're clear on what you want, then there are certain things that you need to do." - Taylor Young
"I always just see people in our space. I do personal lines and I just believe there's value in being a marketer before a sales professional." - Taylor Young
"The difference between forecasting and looking ahead and saying, Okay, what do my six months, year, look like? Well, that probably depends on what you want. That probably depends on how much you want." - Taylor Young
Resources Mentioned:
Taylor Young LinkedIn
Erb and Young Insurance
Be Extraordinary podcast
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Rodney Erb of Erb and Young Insurance. Rodney shares about his passion for connecting people, and discusses team development and different strategies for maintaining a great work environment, and company culture.
Episode Highlights:
Rodney shares his background in the insurance industry. (2:54)
Rodney explains that what has been fun for them at Erb and Young Insurance is that they prioritize culture over everything else. (10:47)
Rodney mentions that they handle hiring and recruiting differently because hiring is obtaining someone quickly while recruiting is looking for someone over time. (12:03)
Rodney mentions that they believe that they are a personal development company that happens to sell insurance. (16:08)
Rodney shares the moment he realized that he was not good enough to play golf for a living. (22:02)
Rodney discusses how they want to scale their commercial lines in 2023 using what they have learned from Killing Commercial. (30:49)
Rodney explains that they aim to work in fields such as service, contractors, and trucking after learning a lot about it in 2018. (35:29)
Rodney explains that on their team, their strengths and weaknesses sit right beside each other, and what makes them strong is also what makes them vulnerable. (42:01)
Rodney discusses the process they use to empower employees in their company, and how they start by concentrating on people that are coachable and have a good attitude. (48:19)
Rodney shares his thoughts about the word humility and explains that he is just a student going through the thing called life. (53:53)
Tweetable Quotes:
"We were team builders. We realized that we had a passion for connecting people and bringing the right people to get the right people in the seats. And that's really what's holding true today. And that's kind of where we're having most of the fun." - Rodney Erb
"Our strengths and weaknesses sit right beside each other. You know, what makes you strong is also what kind of makes you a little vulnerable. What makes you valuable is also what makes you maybe a little bit of a liability." - Rodney Erb
"We believe that the size of the leader is determined by the size of the problem that that person is equipped to handle, correct, or solve." - Rodney Erb
Resources Mentioned:
Rodney Erb LinkedIn
Erb and Young Insurance
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Rodney Erb of Erb and Young Insurance. Rodney shares about his passion for connecting people, and discusses team development and different strategies for maintaining a great work environment, and company culture.
Episode Highlights:
Rodney shares his background in the insurance industry. (2:54)
Rodney explains that what has been fun for them at Erb and Young Insurance is that they prioritize culture over everything else. (10:47)
Rodney mentions that they handle hiring and recruiting differently because hiring is obtaining someone quickly while recruiting is looking for someone over time. (12:03)
Rodney mentions that they believe that they are a personal development company that happens to sell insurance. (16:08)
Rodney shares the moment he realized that he was not good enough to play golf for a living. (22:02)
Rodney discusses how they want to scale their commercial lines in 2023 using what they have learned from Killing Commercial. (30:49)
Rodney explains that they aim to work in fields such as service, contractors, and trucking after learning a lot about it in 2018. (35:29)
Rodney explains that on their team, their strengths and weaknesses sit right beside each other, and what makes them strong is also what makes them vulnerable. (42:01)
Rodney discusses the process they use to empower employees in their company, and how they start by concentrating on people that are coachable and have a good attitude. (48:19)
Rodney shares his thoughts about the word humility and explains that he is just a student going through the thing called life. (53:53)
Tweetable Quotes:
"We were team builders. We realized that we had a passion for connecting people and bringing the right people to get the right people in the seats. And that's really what's holding true today. And that's kind of where we're having most of the fun." - Rodney Erb
"Our strengths and weaknesses sit right beside each other. You know, what makes you strong is also what kind of makes you a little vulnerable. What makes you valuable is also what makes you maybe a little bit of a liability." - Rodney Erb
"We believe that the size of the leader is determined by the size of the problem that that person is equipped to handle, correct, or solve." - Rodney Erb
Resources Mentioned:
Rodney Erb LinkedIn
Erb and Young Insurance
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Mariah Davis, President and Owner of Oakview Insurance Services, Inc. Mariah talks about her journey from being a captive agent to an independent insurance agency owner and how she built her agency. She also shares the struggles she faced that made her stronger and better.
Episode Highlights:
How did Mariah get into the insurance business? (2:54)
Mariah mentions that when she was a captive, she didn’t know what profit-sharing was. (5:07)
What is it like for Mariah, working with her father? (5:17)
How long has Mariah been an independent insurance agent? (9:19)
What led Mariah to be an independent insurance agency owner? (9:24)
Mariah thinks that it’s essential to have district managers in the insurance industry. (10:04)
What was Mariah’s biggest challenge during her transition? (13:39)
Mariah mentions that it’s common in the insurance industry to start as a captive, then be independent. (15:25)
Mariah shares that some groups like the Mastermind and IAOA, are vital to getting the independent channel to talk to each other. (20:17)
David thinks that there’s a tipping point where people finally, were raised in a way where collaboration made more sense than it did a long time ago. (20:49)
Has Mariah’s growth been organic over the 10 years? (22:52)
Mariah mentions the Shiny Object Syndrome. (29:15)
Mariah mentions that it’s vital to change your workflow. (30:39)
Mariah shares that in December of 2019 she was diagnosed breast cancer. (35:52)
Mariah mentions that she has her struggles, but the nation is also struggling with the pandemic and the ramifications of it. (42:23)
Kyle shares a story about his newborn baby. (43:41)
How many treatments does Mariah still have to undergo, before she can ring the bell? (47:16)
What makes Mariah’s agency unique? (48:20)
What does Mariah’s strategy look like? (51:54)
Mariah mentions the Susan G. Komen Foundation. (57:23)
Tweetable Quotes:
“I feel like I know every position in our agency because I’ve had to be every position in our agency at one point or another. That just gives me a better understanding of what our team goes through with their chair.” – Mariah Davis
“I’ve had wonderful support, I have a wonderful spouse, and I have a wonderful support system of friends and the community. And everybody just rallied around me and so I can’t help but be positive. I am such a practical person that it was the only thing I can do. Having doubts being upset, you know, being depressed is just not that productive.” – Mariah Davis
“Everybody has a trial and tribulation. And so either we can pick up and we can keep going. Or we can just fall apart and wallow in it. And I just chose not to do that. And it’s a choice. I’m going to be positive about it. And I’m going to be this and we’re going to continue with life.” – Mariah Davis
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Mariah Davis LinkedIn
Oakview Insurance Services, Inc.
Susan G. Komen Foundation
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Mariah Davis, President and Owner of Oakview Insurance Services, Inc. Mariah talks about her journey from being a captive agent to an independent insurance agency owner and how she built her agency. She also shares the struggles she faced that made her stronger and better.
Episode Highlights:
How did Mariah get into the insurance business? (2:54)
Mariah mentions that when she was a captive, she didn’t know what profit-sharing was. (5:07)
What is it like for Mariah, working with her father? (5:17)
How long has Mariah been an independent insurance agent? (9:19)
What led Mariah to be an independent insurance agency owner? (9:24)
Mariah thinks that it’s essential to have district managers in the insurance industry. (10:04)
What was Mariah’s biggest challenge during her transition? (13:39)
Mariah mentions that it’s common in the insurance industry to start as a captive, then be independent. (15:25)
Mariah shares that some groups like the Mastermind and IAOA, are vital to getting the independent channel to talk to each other. (20:17)
David thinks that there’s a tipping point where people finally, were raised in a way where collaboration made more sense than it did a long time ago. (20:49)
Has Mariah’s growth been organic over the 10 years? (22:52)
Mariah mentions the Shiny Object Syndrome. (29:15)
Mariah mentions that it’s vital to change your workflow. (30:39)
Mariah shares that in December of 2019 she was diagnosed breast cancer. (35:52)
Mariah mentions that she has her struggles, but the nation is also struggling with the pandemic and the ramifications of it. (42:23)
Kyle shares a story about his newborn baby. (43:41)
How many treatments does Mariah still have to undergo, before she can ring the bell? (47:16)
What makes Mariah’s agency unique? (48:20)
What does Mariah’s strategy look like? (51:54)
Mariah mentions the Susan G. Komen Foundation. (57:23)
Tweetable Quotes:
“I feel like I know every position in our agency because I’ve had to be every position in our agency at one point or another. That just gives me a better understanding of what our team goes through with their chair.” – Mariah Davis
“I’ve had wonderful support, I have a wonderful spouse, and I have a wonderful support system of friends and the community. And everybody just rallied around me and so I can’t help but be positive. I am such a practical person that it was the only thing I can do. Having doubts being upset, you know, being depressed is just not that productive.” – Mariah Davis
“Everybody has a trial and tribulation. And so either we can pick up and we can keep going. Or we can just fall apart and wallow in it. And I just chose not to do that. And it’s a choice. I’m going to be positive about it. And I’m going to be this and we’re going to continue with life.” – Mariah Davis
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Mariah Davis LinkedIn
Oakview Insurance Services, Inc.
Susan G. Komen Foundation
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Meg McKeen, Founder & Consultant at Adjunct Advisors. Meg talks about her life as a digital nomad, how she created a virtual business, and shares the lessons she learned as a woman in the industry.
Episode Highlights:
Meg explains what a digital nomad is and her current setup for working from anywhere, as she is always on the move. (3:12)
Meg shares that the life of being a digital nomad is not easy, as it opens up different challenges along the way. (7:25)
Meg explains why she decided to start her business virtually and how it benefited her operations when COVID came. (11:33)
Meg shares that the most common issues that her clients bring up are mostly related to the misalignment of talent, timeframes, and goals from the producer back to the organization. (16:29)
Meg mentions that one thing that helped her succeed in business is knowing how to navigate a system that was not built for her. (27:29)
Meg shares that one of the most rewarding things she can do is to walk away from really nice revenue because of a values misalignment. (41:44)
Meg explains that it is important to show producers that it is okay to say no, and to be there to support them when they do. (45:37)
Meg mentions that she supports using discovery meeting calls. (53:37)
Meg advises listeners that if they are not on their way to their goal, it's not too late to change their course. (57:56)
Tweetable Quotes:
"The problem that I see over and over again is a misalignment of talent, timeframes, and goals from the producer back to the organization." - Meg McKeen
"Instead of trying to figure out how to play a game or navigate a system that wasn't built for you, create an entirely different one. I'm never gonna fix ‘all the problems’ that you've just highlighted in our business... What I can do is introduce some ideas, some concepts, and support for those who want to go about it differently." - Meg McKeen
"The perspective that I've had for 23 years on our business is that it's a business that wasn't built for me. So if I want to be successful in whatever, and I've been on the carrier side, I've been on the agency side, and now I'm out schlepping my own services, I have had to figure out how to navigate a system that wasn't built for me." - Meg McKeen
Resources Mentioned:
Meg McKeen LinkedIn
Adjunct Advisors
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Meg McKeen, Founder & Consultant at Adjunct Advisors. Meg talks about her life as a digital nomad, how she created a virtual business, and shares the lessons she learned as a woman in the industry.
Episode Highlights:
Meg explains what a digital nomad is and her current setup for working from anywhere, as she is always on the move. (3:12)
Meg shares that the life of being a digital nomad is not easy, as it opens up different challenges along the way. (7:25)
Meg explains why she decided to start her business virtually and how it benefited her operations when COVID came. (11:33)
Meg shares that the most common issues that her clients bring up are mostly related to the misalignment of talent, timeframes, and goals from the producer back to the organization. (16:29)
Meg mentions that one thing that helped her succeed in business is knowing how to navigate a system that was not built for her. (27:29)
Meg shares that one of the most rewarding things she can do is to walk away from really nice revenue because of a values misalignment. (41:44)
Meg explains that it is important to show producers that it is okay to say no, and to be there to support them when they do. (45:37)
Meg mentions that she supports using discovery meeting calls. (53:37)
Meg advises listeners that if they are not on their way to their goal, it's not too late to change their course. (57:56)
Tweetable Quotes:
"The problem that I see over and over again is a misalignment of talent, timeframes, and goals from the producer back to the organization." - Meg McKeen
"Instead of trying to figure out how to play a game or navigate a system that wasn't built for you, create an entirely different one. I'm never gonna fix ‘all the problems’ that you've just highlighted in our business... What I can do is introduce some ideas, some concepts, and support for those who want to go about it differently." - Meg McKeen
"The perspective that I've had for 23 years on our business is that it's a business that wasn't built for me. So if I want to be successful in whatever, and I've been on the carrier side, I've been on the agency side, and now I'm out schlepping my own services, I have had to figure out how to navigate a system that wasn't built for me." - Meg McKeen
Resources Mentioned:
Meg McKeen LinkedIn
Adjunct Advisors
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Marcus Harris, Insurance Executive at Arnold Insurance. Marcus discusses how they value their producers, clients, and company at Arnold Insurance and shares the importance of different generations in the insurance industry.
Episode Highlights:
Marcus shares his background and how he got into the insurance industry. (7:52)
Marcus talks about his marketing company, which initially started as a video production company because he loved the concept of telling stories through video. (12:04)
Marcus mentions that he initially started the insurance business when his dad offered to help him start an agency in Denver. (19:38)
Marcus explains that part of what Arnold Insurance tries to drive home for their producers is that they need to finish the job to protect their clients, the agency, and themselves. (26:08)
Marcus shares that, for him, working with his family is a blessing and rewarding as everything is an opportunity for them to work together. (28:23)
Marcus discusses his experience with Keystone. (33:34)
Marcus explains that one of the biggest challenges from his perspective of growing an agency is getting bigger clients, and the only way to do that this is to know your stuff. (38:09)
Marcus explains that you are in the right competition when you overcome others by being consistent and gladly competing with the ones that are left. (47:12)
Marcus shares how much he enjoys the rush of getting the Broker of Record. (54:10)
Marcus explains that the insurance industry needs a new generation, and it is always great to welcome people that are trying to build their careers in this industry. (56:31)
Tweetable Quotes:
"I think that's what we're trying to drive home with our producers is, hey, you've got to finish the job, you've got to protect us, protect the agency, protect yourself. And then you've also got to take the opportunity to truly educate your client, make sure they know what they have." - Marcus Harris
"Insurance is a massive industry, right? I mean, there are tons of those guys in every corner. Most of those guys you get rid of, by just being consistent. And then the guys that are left, you're glad to be competing against those guys. That means you're in the right place. " - Marcus Harris
"I think you realize that you weed out a ton of your competition by stuff that's very much in your control. And when you get to a certain level, yes, you're going to get beat by guys that can hit the ball better than you like that. Just note, they’ve just got a skill set that is different, right?" - Marcus Harris
Resources Mentioned:
Marcus Harris LinkedIn
Arnold Insurance
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Marcus Harris, Insurance Executive at Arnold Insurance. Marcus discusses how they value their producers, clients, and company at Arnold Insurance and shares the importance of different generations in the insurance industry.
Episode Highlights:
Marcus shares his background and how he got into the insurance industry. (7:52)
Marcus talks about his marketing company, which initially started as a video production company because he loved the concept of telling stories through video. (12:04)
Marcus mentions that he initially started the insurance business when his dad offered to help him start an agency in Denver. (19:38)
Marcus explains that part of what Arnold Insurance tries to drive home for their producers is that they need to finish the job to protect their clients, the agency, and themselves. (26:08)
Marcus shares that, for him, working with his family is a blessing and rewarding as everything is an opportunity for them to work together. (28:23)
Marcus discusses his experience with Keystone. (33:34)
Marcus explains that one of the biggest challenges from his perspective of growing an agency is getting bigger clients, and the only way to do that this is to know your stuff. (38:09)
Marcus explains that you are in the right competition when you overcome others by being consistent and gladly competing with the ones that are left. (47:12)
Marcus shares how much he enjoys the rush of getting the Broker of Record. (54:10)
Marcus explains that the insurance industry needs a new generation, and it is always great to welcome people that are trying to build their careers in this industry. (56:31)
Tweetable Quotes:
"I think that's what we're trying to drive home with our producers is, hey, you've got to finish the job, you've got to protect us, protect the agency, protect yourself. And then you've also got to take the opportunity to truly educate your client, make sure they know what they have." - Marcus Harris
"Insurance is a massive industry, right? I mean, there are tons of those guys in every corner. Most of those guys you get rid of, by just being consistent. And then the guys that are left, you're glad to be competing against those guys. That means you're in the right place. " - Marcus Harris
"I think you realize that you weed out a ton of your competition by stuff that's very much in your control. And when you get to a certain level, yes, you're going to get beat by guys that can hit the ball better than you like that. Just note, they’ve just got a skill set that is different, right?" - Marcus Harris
Resources Mentioned:
Marcus Harris LinkedIn
Arnold Insurance
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers goes live at the Young Agents Conference in Oklahoma with guests Julie Hamill, Ryan Smith, Bradley Owens, Jase Riggs, Trent Willis, Wes Becknell, Shania Slavick, and Krista Kautz to discuss their experiences at the conference.
Episode Highlights:
Julie Hamill shares that her favorite part of the conference is networking. (2:42)
Brad Owens mentions that he was reawakened by what David Carothers spoke about at the conference and is ready to read the book "The Dirty 130". (3:41)
Jase Riggs, Wes Becknell, and Trent Willis explain that there were a lot of great things that happened at the conference, and the real challenge is being able to apply and implement those things in real life. (10:54)
Trent Willis shares that one of the things that separate successful agency owners is that they take action. (13:46)
Trent Willis and Wes Becknell explain that attending conferences like the Young Agents Conference helps you to get better by knowing what successful people are doing. (19:46)
Shania Slavick mentions that this was one of the most successful events they have attended, especially being able to bring new attendees that are young agents. (25:26)
Krista Kautz shares the heartwarming story of her peers setting up a fundraiser for her stepmother who is battling cancer. (30:22)
David Carothers encourages all the listeners to help out and raise the target goal of the fundraiser which is $25,000. (35:54)
Tweetable Quotes:
"I think this success is really going to be who goes back and implements what they learned, right? That's what we come to conferences and learn. But can we go back and implement it?" - Trent Willis
“We're definitely trying to battle that talent gap. And the students were so engaged and amazed at how cool this industry could be. And then the amount of connections that they're getting for potential employers. Because, anyone knows that whenever you first come out of college, it's hard for some to get a job because you're competing against other resumes with experience.”- Krista Kautz
“I think the thing that sets us apart as successful agency owners is that all of us sitting around right here, we all take action. We take the first step. We're not scared to have this conversation. We don't let fear get in our way.” - Trent Willis
Resources Mentioned:
Ryan Smith
Julie Hamill
Bradley Owens
Jase Riggs
Trent Willis
Wes Becknell
Shania Slavick
Krista Kautz
Smith & Sons Insurance Agency, Inc.
The Affinities Group
CompSource Mutual Insurance Company
Riggs & Associates Group
Cornerstone Insurance Group
Rocklake Insurance Group
BIG I Oklahoma
Berrong Insurance Agency
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers goes live at the Young Agents Conference in Oklahoma with guests Julie Hamill, Ryan Smith, Bradley Owens, Jase Riggs, Trent Willis, Wes Becknell, Shania Slavick, and Krista Kautz to discuss their experiences at the conference.
Episode Highlights:
Julie Hamill shares that her favorite part of the conference is networking. (2:42)
Brad Owens mentions that he was reawakened by what David Carothers spoke about at the conference and is ready to read the book "The Dirty 130". (3:41)
Jase Riggs, Wes Becknell, and Trent Willis explain that there were a lot of great things that happened at the conference, and the real challenge is being able to apply and implement those things in real life. (10:54)
Trent Willis shares that one of the things that separate successful agency owners is that they take action. (13:46)
Trent Willis and Wes Becknell explain that attending conferences like the Young Agents Conference helps you to get better by knowing what successful people are doing. (19:46)
Shania Slavick mentions that this was one of the most successful events they have attended, especially being able to bring new attendees that are young agents. (25:26)
Krista Kautz shares the heartwarming story of her peers setting up a fundraiser for her stepmother who is battling cancer. (30:22)
David Carothers encourages all the listeners to help out and raise the target goal of the fundraiser which is $25,000. (35:54)
Tweetable Quotes:
"I think this success is really going to be who goes back and implements what they learned, right? That's what we come to conferences and learn. But can we go back and implement it?" - Trent Willis
“We're definitely trying to battle that talent gap. And the students were so engaged and amazed at how cool this industry could be. And then the amount of connections that they're getting for potential employers. Because, anyone knows that whenever you first come out of college, it's hard for some to get a job because you're competing against other resumes with experience.”- Krista Kautz
“I think the thing that sets us apart as successful agency owners is that all of us sitting around right here, we all take action. We take the first step. We're not scared to have this conversation. We don't let fear get in our way.” - Trent Willis
Resources Mentioned:
Ryan Smith
Julie Hamill
Bradley Owens
Jase Riggs
Trent Willis
Wes Becknell
Shania Slavick
Krista Kautz
Smith & Sons Insurance Agency, Inc.
The Affinities Group
CompSource Mutual Insurance Company
Riggs & Associates Group
Cornerstone Insurance Group
Rocklake Insurance Group
BIG I Oklahoma
Berrong Insurance Agency
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews Sean Kirby, from Performance Group Indiana, and contestant from The Protege season 2. Sean shares his experience on the show and the things he has been able to apply in the real world, and how he got an immunity because of his work product. Episode Highlights:
Sean shares how he became interested in joining the Protege for season 2, after watching the first season. (3:40)
Sean explains that the relationships he gained with the other contestants on the show were a welcome surprise to him. (5:04)
Sean mentions that he had a great experience going through the challenges and how he has been able to apply them to his business. (7:45)
Sean shares how he was able to come up with the Blue Collar Blueprint, and so far has come to gain appointments from it. (9:15)
Sean explains that one of the challenges he has been faced is being too friendly and not separating the business enough to take things to the next step. (11:17)
David explains that Sean has a great team, and it's only a matter of consistency in being able to see results. (15:15)
David and Sean share some of their experiences with one of the more unique characters on the show. (21:16)
Tweetable Quotes:
"It made me become a bit more creative than I think I usually am, like, in a marketing sense. I've got some great coaches, so they've helped me fine tune where I fit in the marketplace and how to really build something for the customer." - Sean Kirby
"The persistence behind it, it will all pay off. I'm in the right group right now. One of them's got to hit. That's all I need." - Sean Kirby
"There was nobody that I would say just nailed it every week. The people that made it through are the ones that were the most consistent in their work product, period." - David Carothers
Resources Mentioned:
Sean Kirby LinkedIn
Blue Collar Blueprint
Performance Group Indiana
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews Sean Kirby, from Performance Group Indiana, and contestant from The Protege season 2. Sean shares his experience on the show and the things he has been able to apply in the real world, and how he got an immunity because of his work product. Episode Highlights:
Sean shares how he became interested in joining the Protege for season 2, after watching the first season. (3:40)
Sean explains that the relationships he gained with the other contestants on the show were a welcome surprise to him. (5:04)
Sean mentions that he had a great experience going through the challenges and how he has been able to apply them to his business. (7:45)
Sean shares how he was able to come up with the Blue Collar Blueprint, and so far has come to gain appointments from it. (9:15)
Sean explains that one of the challenges he has been faced is being too friendly and not separating the business enough to take things to the next step. (11:17)
David explains that Sean has a great team, and it's only a matter of consistency in being able to see results. (15:15)
David and Sean share some of their experiences with one of the more unique characters on the show. (21:16)
Tweetable Quotes:
"It made me become a bit more creative than I think I usually am, like, in a marketing sense. I've got some great coaches, so they've helped me fine tune where I fit in the marketplace and how to really build something for the customer." - Sean Kirby
"The persistence behind it, it will all pay off. I'm in the right group right now. One of them's got to hit. That's all I need." - Sean Kirby
"There was nobody that I would say just nailed it every week. The people that made it through are the ones that were the most consistent in their work product, period." - David Carothers
Resources Mentioned:
Sean Kirby LinkedIn
Blue Collar Blueprint
Performance Group Indiana
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews John Borja. John discusses building books of business and shares insight on how to tackle the challenge of attracting to new producers.
Episode Highlights:
John explains that he has been in the business for 15 years as an independent broker and has worked with three different brokers and brokerages, and this is his third time building a book of business from the ground up. (2:30)
John believes that building business books has a lot of appeals, but that the part that is hard and can be discouraging is the part where you have to fix things up. (4:39)
John explains that in California the broker owns the book of business, but principles make it hard to move. (5:54)
David explains that the way that he attracts producers, and the way that he hires producers is he makes them referral partners to his agency first. (12:29)
John explains how you may move the book of business with an agreeable attitude between your principal and yourself. (19:24)
John believes that agencies continue to make it difficult for producers to move on to other organizations, both at the regional and national levels. (22:52)
John explains how crucial it is for producers going forward to know what is negotiable up front. (25:22)
John mentions that he likes The Power Producers Podcast's intro because it is very relevant to the lifestyle of a producer. (27:54)
John discusses his decision to target and work with larger accounts. (32:04)
From a leadership standpoint, John believes it is not difficult to change, particularly if you know it will have a direct influence on your organization's income. (36:53)
John explains how he learned early on that this industry is greater than him, and that there is a lot of information out there; it's simply a question of choosing which one to emulate. (42:57)
Tweetable Quotes:
“I have a little bit more knowledge on building books of businesses now at the third try then at the first try.” - John Borja
“I know that agency principals struggle with attracting new producers and I believe building books of businesses have big appeal. But at the same time, the restart or revamp stage is the part that is very, very hard. And it kind of can be discouraging.” - John Borja
“From a leadership perspective, I don't think it's difficult to evolve, especially if you know that it's going to create direct impacts with your revenue to your organization, good or bad.” - John Borja
Resources Mentioned:
John Borja LinkedIn
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews John Borja. John discusses building books of business and shares insight on how to tackle the challenge of attracting to new producers.
Episode Highlights:
John explains that he has been in the business for 15 years as an independent broker and has worked with three different brokers and brokerages, and this is his third time building a book of business from the ground up. (2:30)
John believes that building business books has a lot of appeals, but that the part that is hard and can be discouraging is the part where you have to fix things up. (4:39)
John explains that in California the broker owns the book of business, but principles make it hard to move. (5:54)
David explains that the way that he attracts producers, and the way that he hires producers is he makes them referral partners to his agency first. (12:29)
John explains how you may move the book of business with an agreeable attitude between your principal and yourself. (19:24)
John believes that agencies continue to make it difficult for producers to move on to other organizations, both at the regional and national levels. (22:52)
John explains how crucial it is for producers going forward to know what is negotiable up front. (25:22)
John mentions that he likes The Power Producers Podcast's intro because it is very relevant to the lifestyle of a producer. (27:54)
John discusses his decision to target and work with larger accounts. (32:04)
From a leadership standpoint, John believes it is not difficult to change, particularly if you know it will have a direct influence on your organization's income. (36:53)
John explains how he learned early on that this industry is greater than him, and that there is a lot of information out there; it's simply a question of choosing which one to emulate. (42:57)
Tweetable Quotes:
“I have a little bit more knowledge on building books of businesses now at the third try then at the first try.” - John Borja
“I know that agency principals struggle with attracting new producers and I believe building books of businesses have big appeal. But at the same time, the restart or revamp stage is the part that is very, very hard. And it kind of can be discouraging.” - John Borja
“From a leadership perspective, I don't think it's difficult to evolve, especially if you know that it's going to create direct impacts with your revenue to your organization, good or bad.” - John Borja
Resources Mentioned:
John Borja LinkedIn
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck sit down with Clayton Wood, Managing Partner at C.B. Wood Financial. They discuss Clayton's book, The Chronic Cost, and how it can help companies with 50 to 500 employees better understand and save money in the employee benefit buying process.
Episode Highlights:
Clayton explains that the book, The Chronic Cost, was written to be concise and understandable for everybody. (3:06)
Clayton shares that the book The Chronic Cost also goes through how you can economically get to a company with 50 employees. (4:32)
Davis mentions that putting something in print that you can hand to people gives you more credibility because not everyone is into the digital age and some people would rather just read a book. (5:34)
Clayton discusses about the great feedback they have received since the book came out and how some clients got in touch with him after not hearing from them for a while. (7:59)
Clayton explains that having the goal of signing up clients for a monthly subscription has a strong connection with having recurring revenue. (11:11)
David explains that people that are looking to write a book have to integrate the traditional and digital print of their books. (13:14)
David shares how people can get a free copy of the book. (14:56)
Tweetable Quotes:
"We wanted to be concise to the point and make it understandable for anybody, but the book is meant for anybody in the buying process of employee benefits we target in the book." - Clayton Wood
"We're just trying to find another avenue to share our ideas with people because everybody needs to talk in a different way." - Clayton Wood
"I think that sometimes we get so caught up in the digital age that we forget, not everybody's caught up in the digital age is what we are. There are people who would prefer to just get a book and read it." - David Carothers
Resources Mentioned:
Clayton Wood LinkedIn
C.B. Wood Financial.
Book: The Chronic Cost
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck sit down with Clayton Wood, Managing Partner at C.B. Wood Financial. They discuss Clayton's book, The Chronic Cost, and how it can help companies with 50 to 500 employees better understand and save money in the employee benefit buying process.
Episode Highlights:
Clayton explains that the book, The Chronic Cost, was written to be concise and understandable for everybody. (3:06)
Clayton shares that the book The Chronic Cost also goes through how you can economically get to a company with 50 employees. (4:32)
Davis mentions that putting something in print that you can hand to people gives you more credibility because not everyone is into the digital age and some people would rather just read a book. (5:34)
Clayton discusses about the great feedback they have received since the book came out and how some clients got in touch with him after not hearing from them for a while. (7:59)
Clayton explains that having the goal of signing up clients for a monthly subscription has a strong connection with having recurring revenue. (11:11)
David explains that people that are looking to write a book have to integrate the traditional and digital print of their books. (13:14)
David shares how people can get a free copy of the book. (14:56)
Tweetable Quotes:
"We wanted to be concise to the point and make it understandable for anybody, but the book is meant for anybody in the buying process of employee benefits we target in the book." - Clayton Wood
"We're just trying to find another avenue to share our ideas with people because everybody needs to talk in a different way." - Clayton Wood
"I think that sometimes we get so caught up in the digital age that we forget, not everybody's caught up in the digital age is what we are. There are people who would prefer to just get a book and read it." - David Carothers
Resources Mentioned:
Clayton Wood LinkedIn
C.B. Wood Financial.
Book: The Chronic Cost
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews Ryan Smith, a contestant on The Protege. Ryan talks about his experience on the insurance reality show, and shares some of the lessons that he has learned thus far.
Episode Highlights:
Ryan shares his background growing up in Lawton, Oklahoma and what led him to join the insurance industry. (2:48)
Ryan explains that part of his struggle in his submissions to The Protege is talking too much. (10:28)
Ryan shares that his goal is to be a fourth-generation agency owner and take the company to new heights. (12:50)
Ryan explains that having mentors through the independent agent channel has been so valuable for him. (20:39)
Ryan shares how he thinks he would be able to stand out in The Protege challenges. (28:38)
Ryan elaborates on how he is still analyzing how he can be able to be more intentional and focus on the words he is using in a strategic way. (31:15)
David reveals that one of the things he was looking for was to see how many people would contact Josh Gurley. (38:47)
Ryan explains how contestants connect with each other and bond every episode. (43:09)
Ryan shares that the interaction with the coaches and friends that root for him has been the most motivating experience for him. (47:00)
Tweetable Quotes:
"Ultimately, my goal is to be the fourth generation agency owner, Smith and Sons. And I mean, I'm a part owner already, but I want to take this generation of the business to new places to new heights." - Ryan Smith
"Having mentors, you know, through the independent agent channel, has been so valuable for me talking with people like Beaux Pilgrim, Jason Cass, and Mike Crowley." - Ryan Smith
"Insurance agents are not just old guys sitting around with fishing poles holding the dollar over you and saying, ‘Oh, gotcha’. You know, there's really a lot of excitement and a lot of fun that can be had in this industry." - Ryan Smith
Resources Mentioned:
Ryan Smith LinkedIn
Smith & Sons Insurance Agency, Inc.
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews Ryan Smith, a contestant on The Protege. Ryan talks about his experience on the insurance reality show, and shares some of the lessons that he has learned thus far.
Episode Highlights:
Ryan shares his background growing up in Lawton, Oklahoma and what led him to join the insurance industry. (2:48)
Ryan explains that part of his struggle in his submissions to The Protege is talking too much. (10:28)
Ryan shares that his goal is to be a fourth-generation agency owner and take the company to new heights. (12:50)
Ryan explains that having mentors through the independent agent channel has been so valuable for him. (20:39)
Ryan shares how he thinks he would be able to stand out in The Protege challenges. (28:38)
Ryan elaborates on how he is still analyzing how he can be able to be more intentional and focus on the words he is using in a strategic way. (31:15)
David reveals that one of the things he was looking for was to see how many people would contact Josh Gurley. (38:47)
Ryan explains how contestants connect with each other and bond every episode. (43:09)
Ryan shares that the interaction with the coaches and friends that root for him has been the most motivating experience for him. (47:00)
Tweetable Quotes:
"Ultimately, my goal is to be the fourth generation agency owner, Smith and Sons. And I mean, I'm a part owner already, but I want to take this generation of the business to new places to new heights." - Ryan Smith
"Having mentors, you know, through the independent agent channel, has been so valuable for me talking with people like Beaux Pilgrim, Jason Cass, and Mike Crowley." - Ryan Smith
"Insurance agents are not just old guys sitting around with fishing poles holding the dollar over you and saying, ‘Oh, gotcha’. You know, there's really a lot of excitement and a lot of fun that can be had in this industry." - Ryan Smith
Resources Mentioned:
Ryan Smith LinkedIn
Smith & Sons Insurance Agency, Inc.
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews Kenny Urbania, Chief Executive Officer at The Agency Collective. Kenny discusses The Agency Collective's desire to help not only in the growth of agencies but also in the development of a leader. Kenny also shares the structure they have at The Agency Collective for agents in terms of commissions and bonuses.
Episode Highlights:
Kenny shares his background story and discusses his 24 years of experience in the insurance industry. (2:05)
Kenny explains that The Agency Collective is more of a professional service business or agent co-op where they make a collective effort to put their premiums together in order to get better deals for the agencies and better bonuses for the agents. (6:05)
Kenny shares that in most situations, they do not charge anybody to join them, unless they want to get their premium right away. (12:27)
Kenny mentions that they monitor loss rates because they never want to touch commissions in order to provide agents 100% commission. (16:13)
Kenny shares that The Agency Collective is structured in a manner that they strive to pay agents as much as possible while still being the best partners with carriers. (22:41)
Kenny explains the importance of renegotiating the compensation levels and bonuses for the agents every year. (28:18)
Kenny shares that in addition to personal lines they also have commercial lines, life & financial, and they try to run on all platforms. (30:54)
Kenny shares one of his favorite success stories of a captive agent that broke free and took only 9 months with The Agency Collective to surpass the income he was making after 10 years. (43:36)
Tweetable Quotes:
"We never want to touch commissions, we want to give the agents 100% of the commissions. We work on contingency and bonuses. And that's one of the reasons why we watch loss ratios." - Kenny Urbania
"The bottom line is it's all about the revenue you can bring to your agency and the profitability and working together with the right person." - Kenny Urbania
"We all sell boxes, some are bigger, some are smaller, I don't care how big the agency is, or how small the agency is, there's nobody that gets treated differently." - Kenny Urbania
Resources Mentioned:
Kenny Urbania LinkedIn
The Agency Collective
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews Kenny Urbania, Chief Executive Officer at The Agency Collective. Kenny discusses The Agency Collective's desire to help not only in the growth of agencies but also in the development of a leader. Kenny also shares the structure they have at The Agency Collective for agents in terms of commissions and bonuses.
Episode Highlights:
Kenny shares his background story and discusses his 24 years of experience in the insurance industry. (2:05)
Kenny explains that The Agency Collective is more of a professional service business or agent co-op where they make a collective effort to put their premiums together in order to get better deals for the agencies and better bonuses for the agents. (6:05)
Kenny shares that in most situations, they do not charge anybody to join them, unless they want to get their premium right away. (12:27)
Kenny mentions that they monitor loss rates because they never want to touch commissions in order to provide agents 100% commission. (16:13)
Kenny shares that The Agency Collective is structured in a manner that they strive to pay agents as much as possible while still being the best partners with carriers. (22:41)
Kenny explains the importance of renegotiating the compensation levels and bonuses for the agents every year. (28:18)
Kenny shares that in addition to personal lines they also have commercial lines, life & financial, and they try to run on all platforms. (30:54)
Kenny shares one of his favorite success stories of a captive agent that broke free and took only 9 months with The Agency Collective to surpass the income he was making after 10 years. (43:36)
Tweetable Quotes:
"We never want to touch commissions, we want to give the agents 100% of the commissions. We work on contingency and bonuses. And that's one of the reasons why we watch loss ratios." - Kenny Urbania
"The bottom line is it's all about the revenue you can bring to your agency and the profitability and working together with the right person." - Kenny Urbania
"We all sell boxes, some are bigger, some are smaller, I don't care how big the agency is, or how small the agency is, there's nobody that gets treated differently." - Kenny Urbania
Resources Mentioned:
Kenny Urbania LinkedIn
The Agency Collective
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck sit down with Clayton Wood, Managing Partner at C.B. Wood Financial. They discuss pharmacy benefits and how they work in the P&C world and why P&C agencies should have a conversation with their clients about benefits.
Episode Highlights:
Clayton explains that the purpose of this series of episodes is to help P&C brokers and listeners understand that cross-selling may add an extra revenue stream to their business. (3:42)
Clayton defines a pharmacy benefit manager in the industry. (4:22)
Clayton discusses the importance of having a transparent pharmacy benefit manager. (7:30)
Clayton mentions that some health care plans have a brilliant marketing strategy, but it is only to make employees pay more. (14:28)
David explains to the listeners why service fees are valuable. (19:13)
Clayton explains that in the P&C world, prescriptions are a problem for small businesses with 50 to 150 employees, and it will be one of their largest percentages of claims. (21:37)
David believes that any P&C agency that does not even discuss benefits with its clients, whether they sell them or not, is allowing someone else to come in and have that conversation. (23:33)
Tweetable Quotes:
“What we're doing here on this four-episode series or more, if we decide to do more is just to help the P&C brokers, the audience of this podcast, just understand, that there is a way to add an extra revenue stream to their business by cross-selling.” - Clayton Wood
“Putting a pharmacy benefit manager that's transparent in is really important. Nowadays, there's a special term for them, they're called pass through PBM’s, which means they don't add any spread to the drugs, and they pass on 100% of the rebates.” - Clayton Wood
“Any P&C agency out there right now, that is not even having a conversation with their clients about benefits, whether they sell them or not, is opening up an opportunity for somebody else to come in and have that conversation.” - David Carothers
Resources Mentioned:
Clayton Wood LinkedIn
C.B. Wood Financial.
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck sit down with Clayton Wood, Managing Partner at C.B. Wood Financial. They discuss pharmacy benefits and how they work in the P&C world and why P&C agencies should have a conversation with their clients about benefits.
Episode Highlights:
Clayton explains that the purpose of this series of episodes is to help P&C brokers and listeners understand that cross-selling may add an extra revenue stream to their business. (3:42)
Clayton defines a pharmacy benefit manager in the industry. (4:22)
Clayton discusses the importance of having a transparent pharmacy benefit manager. (7:30)
Clayton mentions that some health care plans have a brilliant marketing strategy, but it is only to make employees pay more. (14:28)
David explains to the listeners why service fees are valuable. (19:13)
Clayton explains that in the P&C world, prescriptions are a problem for small businesses with 50 to 150 employees, and it will be one of their largest percentages of claims. (21:37)
David believes that any P&C agency that does not even discuss benefits with its clients, whether they sell them or not, is allowing someone else to come in and have that conversation. (23:33)
Tweetable Quotes:
“What we're doing here on this four-episode series or more, if we decide to do more is just to help the P&C brokers, the audience of this podcast, just understand, that there is a way to add an extra revenue stream to their business by cross-selling.” - Clayton Wood
“Putting a pharmacy benefit manager that's transparent in is really important. Nowadays, there's a special term for them, they're called pass through PBM’s, which means they don't add any spread to the drugs, and they pass on 100% of the rebates.” - Clayton Wood
“Any P&C agency out there right now, that is not even having a conversation with their clients about benefits, whether they sell them or not, is opening up an opportunity for somebody else to come in and have that conversation.” - David Carothers
Resources Mentioned:
Clayton Wood LinkedIn
C.B. Wood Financial.
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews John Lyons from Insurance One. John talks about his experience being on The Protege, and the takeaways that he was able to apply in his agency.
Episode Highlights:
John shares his background in the industry and his niches before joining The Protege. (2:46)
John discusses the benefits of working with mentors who have experience in the subject as opposed to following a book. (7:54)
John shares that educating your clients and prospects is the main priority of our job as agents. (12:42)
John illustrates how everything in our lives affects us and imparts knowledge to us that we might not have otherwise acquired. (17:40)
David explains that his main responsibility is to make everyone he encounters feel wonderful. (19:31)
John shares that the biggest surprise he had from joining the show was that it forced him to execute, moving from the idea phase to the execution phase. (26:35)
John explains that the thing he kept saying to his team was to do the work, since they had decided to sign up for the challenge. (30:53)
John mentions that his activities outside of the curriculum have been quite successful, and he has conferences and specializations that he has created. (35:10)
John encourages listeners to do two things: first, find a way to learn from someone with industry experience right away, and second, learn when to quit. (38:55)
Tweetable Quotes:
"You got to have the wherewithal to understand the stuff that you do, and then take it, twist it, and put it into the peg that I'm doing, right?" - John Lyons
"I think everything that we do, and everything we're a part of in life kind of mimics each other and will always teach us things that you know, we may not have thought." - John Lyons
"Immediately find ways to get education from someone who's been in the business that's been doing it longer than you whether that's a mentor or you find a podcast or you find something where you can get educated very quickly. " - John Lyons
Resources Mentioned:
John Lyons LinkedIn
Insurance One
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews John Lyons from Insurance One. John talks about his experience being on The Protege, and the takeaways that he was able to apply in his agency.
Episode Highlights:
John shares his background in the industry and his niches before joining The Protege. (2:46)
John discusses the benefits of working with mentors who have experience in the subject as opposed to following a book. (7:54)
John shares that educating your clients and prospects is the main priority of our job as agents. (12:42)
John illustrates how everything in our lives affects us and imparts knowledge to us that we might not have otherwise acquired. (17:40)
David explains that his main responsibility is to make everyone he encounters feel wonderful. (19:31)
John shares that the biggest surprise he had from joining the show was that it forced him to execute, moving from the idea phase to the execution phase. (26:35)
John explains that the thing he kept saying to his team was to do the work, since they had decided to sign up for the challenge. (30:53)
John mentions that his activities outside of the curriculum have been quite successful, and he has conferences and specializations that he has created. (35:10)
John encourages listeners to do two things: first, find a way to learn from someone with industry experience right away, and second, learn when to quit. (38:55)
Tweetable Quotes:
"You got to have the wherewithal to understand the stuff that you do, and then take it, twist it, and put it into the peg that I'm doing, right?" - John Lyons
"I think everything that we do, and everything we're a part of in life kind of mimics each other and will always teach us things that you know, we may not have thought." - John Lyons
"Immediately find ways to get education from someone who's been in the business that's been doing it longer than you whether that's a mentor or you find a podcast or you find something where you can get educated very quickly. " - John Lyons
Resources Mentioned:
John Lyons LinkedIn
Insurance One
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Charles McDade, Agency Owner at McDade Insurance Brokerage Group. Charles discusses the ways in which his brokerage assists their clients in lowering their financial risk and saving money.
Episode Highlights:
Charles explains that he decided to create his own brokerage because he needed a little more independence and the option to put clients in the best possible situation. (3:03)
Charles explains how he used Google review to grow their personal lines. (12:23)
David shares why he thinks you should lead with umbrella when writing personal lines. (18:08)
Charles compares entrepreneurship to waking up in a smoke-filled room every morning and knowing that if just you sit there, you aren’t going to make it, you have to continue to push, move and figure things out. (21:12)
Charles explains that they've only been able to flow and expand by shifting their marketing technique to be either educational or memorable. (22:55)
David discusses how they are hammering the CRM with personal and commercial leads. (28:16)
Charles explains that eliminating humanity from the workplace is a bad idea no matter who you are. (37:22)
Charles believes that they've done over 150k from insurance reels in the previous three weeks. (39:27)
Charles believes many individuals don't realize the potential consequence of bad understanding is important to every conversation. (48:02)
Tweetable Quotes:
“For us, the only way that we've been able to kind of flow and kind of grow this stuff is kind of transitioning marketing style a bit to where we're doing kind of twofold, either educating the client or being highly memorable.” - Charles McDade
“Removing humanity from the workplace is a bad idea, no matter who you are. People don't buy from nameless, faceless robots.” - Charles McDade
“Reels have been a lot more usable. I mean, in the last three weeks, I think we've done about 150,000 on insurance reels now.” - Charles McDade
Resources Mentioned:
Charles McDade LinkedIn
McDade Insurance
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Charles McDade, Agency Owner at McDade Insurance Brokerage Group. Charles discusses the ways in which his brokerage assists their clients in lowering their financial risk and saving money.
Episode Highlights:
Charles explains that he decided to create his own brokerage because he needed a little more independence and the option to put clients in the best possible situation. (3:03)
Charles explains how he used Google review to grow their personal lines. (12:23)
David shares why he thinks you should lead with umbrella when writing personal lines. (18:08)
Charles compares entrepreneurship to waking up in a smoke-filled room every morning and knowing that if just you sit there, you aren’t going to make it, you have to continue to push, move and figure things out. (21:12)
Charles explains that they've only been able to flow and expand by shifting their marketing technique to be either educational or memorable. (22:55)
David discusses how they are hammering the CRM with personal and commercial leads. (28:16)
Charles explains that eliminating humanity from the workplace is a bad idea no matter who you are. (37:22)
Charles believes that they've done over 150k from insurance reels in the previous three weeks. (39:27)
Charles believes many individuals don't realize the potential consequence of bad understanding is important to every conversation. (48:02)
Tweetable Quotes:
“For us, the only way that we've been able to kind of flow and kind of grow this stuff is kind of transitioning marketing style a bit to where we're doing kind of twofold, either educating the client or being highly memorable.” - Charles McDade
“Removing humanity from the workplace is a bad idea, no matter who you are. People don't buy from nameless, faceless robots.” - Charles McDade
“Reels have been a lot more usable. I mean, in the last three weeks, I think we've done about 150,000 on insurance reels now.” - Charles McDade
Resources Mentioned:
Charles McDade LinkedIn
McDade Insurance
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews Clayton Wood, Managing Partner at C.B. Wood Financial. Clayton discusses how claims are paid in the industry and how C.B. Wood Financial is helping brokers deliver savings.
Episode Highlights:
Clayton explains that some clients and employees who go to the doctor to get a prescription or have surgery or imaging don't know how much their claim will cost until they get the EOB. (2:31)
Clayton discusses the several factors of how claims are priced. (3:09)
Clayton highly recommends Marshall Allen's book: Never Pay the First Bill because it provides a clear idea of how claims are paid in the industry. (8:27)
Clayton explains C.B. Wood Financial's big win-win solution for its clients, which has been a huge success. (9:40)
David mentions that finding individuals who are specialists in things you don't know about, in areas of coverage that you don't represent every day, will lead to significant changes in your book of business. (13:50)
David explains that he was never interested in bringing benefits into the agency because it moves too quickly (14:43)
Tweetable Quotes:
“Glad we could help out some of these P&C brokers, learn how to help their plans, their client's plans. And ultimately, if we can show them that there's another strategy out there, they're the hero, you know, that's what we're trying to do make your the P&C broker the hero and deliver a ton of savings” - Clayton Wood
“Find the people that are the expert in the little things that you don't know about in the areas of coverage that you don't represent every single day. And that ultimately is what's going to drive significant change in your book of business.” - David Carothers
Resources Mentioned:
Clayton Wood LinkedIn
C.B. Wood Financial
Book: Never Pay the First Bill
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews Clayton Wood, Managing Partner at C.B. Wood Financial. Clayton discusses how claims are paid in the industry and how C.B. Wood Financial is helping brokers deliver savings.
Episode Highlights:
Clayton explains that some clients and employees who go to the doctor to get a prescription or have surgery or imaging don't know how much their claim will cost until they get the EOB. (2:31)
Clayton discusses the several factors of how claims are priced. (3:09)
Clayton highly recommends Marshall Allen's book: Never Pay the First Bill because it provides a clear idea of how claims are paid in the industry. (8:27)
Clayton explains C.B. Wood Financial's big win-win solution for its clients, which has been a huge success. (9:40)
David mentions that finding individuals who are specialists in things you don't know about, in areas of coverage that you don't represent every day, will lead to significant changes in your book of business. (13:50)
David explains that he was never interested in bringing benefits into the agency because it moves too quickly (14:43)
Tweetable Quotes:
“Glad we could help out some of these P&C brokers, learn how to help their plans, their client's plans. And ultimately, if we can show them that there's another strategy out there, they're the hero, you know, that's what we're trying to do make your the P&C broker the hero and deliver a ton of savings” - Clayton Wood
“Find the people that are the expert in the little things that you don't know about in the areas of coverage that you don't represent every single day. And that ultimately is what's going to drive significant change in your book of business.” - David Carothers
Resources Mentioned:
Clayton Wood LinkedIn
C.B. Wood Financial
Book: Never Pay the First Bill
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this special episode of The Power Producers Podcast, David Carothers interviews Dave Jackson, Founder of IAOA. Dave discusses the upcoming IAOA Innovation22 event in Nashville, Tennessee, including what will be different this year, what new guests can expect, and why guests return year after year.
Episode Highlights:
Dave explains that the upcoming IAOA Innovation22 will be a three-day event. (2:47)
Dave discusses the event's theme and agenda. (3:52)
Dave explains how the nomination process for choosing speakers for IAOA Innovation22. (7:09)
Dave mentions that they never have a repetition of topics, and this year's ideas are incredibly broad and diversified. (13:58)
Dave shares that 50% of their guests are repeat attendees because they return and want to see their friends once a year and the event provides a great opportunity to connect. (18:56)
Dave explains that tickets are available until October 5, the day before the event and they are producing name badges on demand, so that everyone will have theirs printed when they arrive. (20:18)
Dave informs listeners that when attendees register, they are able to donate to the scholarship fund, and this year they had enough at a value of $649 to provide 11 scholarships. (23:32)
Dave discusses their future goal of creating a nonprofit scholarship foundation. (24:24)
Tweetable Quotes:
“We listen to our members from past years and no breakouts so you don't have to pick, you are going to see everybody in one room for two days straight, we give you plenty of breaks, so there's not going to be a problem.” - Dave Jackson
“We have hundreds and hundreds of attendees, and almost every year, it's about 50% first timers, the other 50% are repeaters. So, those first timers jump in, and everyone I mean, everyone you know, tells them, it's going to feel like you're drinking from a firehose, because you're going to be flooded with information and knowledge.” - Dave Jackson
“What we do is we allow attendees to donate to the scholarship fund when they register. This year, we had enough at a 649 value, that was the early bird price, enough to fund 11 scholarships.” - Dave Jackson
Resources Mentioned:
Dave Jackson LinkedIn
IAOA
IAOA Innovation22
David Carothers
Florida Risk Partners
The Extra 2 Minutes
In this special episode of The Power Producers Podcast, David Carothers interviews Dave Jackson, Founder of IAOA. Dave discusses the upcoming IAOA Innovation22 event in Nashville, Tennessee, including what will be different this year, what new guests can expect, and why guests return year after year.
Episode Highlights:
Dave explains that the upcoming IAOA Innovation22 will be a three-day event. (2:47)
Dave discusses the event's theme and agenda. (3:52)
Dave explains how the nomination process for choosing speakers for IAOA Innovation22. (7:09)
Dave mentions that they never have a repetition of topics, and this year's ideas are incredibly broad and diversified. (13:58)
Dave shares that 50% of their guests are repeat attendees because they return and want to see their friends once a year and the event provides a great opportunity to connect. (18:56)
Dave explains that tickets are available until October 5, the day before the event and they are producing name badges on demand, so that everyone will have theirs printed when they arrive. (20:18)
Dave informs listeners that when attendees register, they are able to donate to the scholarship fund, and this year they had enough at a value of $649 to provide 11 scholarships. (23:32)
Dave discusses their future goal of creating a nonprofit scholarship foundation. (24:24)
Tweetable Quotes:
“We listen to our members from past years and no breakouts so you don't have to pick, you are going to see everybody in one room for two days straight, we give you plenty of breaks, so there's not going to be a problem.” - Dave Jackson
“We have hundreds and hundreds of attendees, and almost every year, it's about 50% first timers, the other 50% are repeaters. So, those first timers jump in, and everyone I mean, everyone you know, tells them, it's going to feel like you're drinking from a firehose, because you're going to be flooded with information and knowledge.” - Dave Jackson
“What we do is we allow attendees to donate to the scholarship fund when they register. This year, we had enough at a 649 value, that was the early bird price, enough to fund 11 scholarships.” - Dave Jackson
Resources Mentioned:
Dave Jackson LinkedIn
IAOA
IAOA Innovation22
David Carothers
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Caryn Seifert, President of Streamlined Business Insurance. Caryn talks about her experience on The Protege and how she is applying what she is learning in her agency.
Episode Highlights:
Caryn shares that prior to getting into the insurance industry, she was in B2B sales and management in a lot of different capacities. (3:22)
Caryn discusses the turning point that led her to start her own agency. (5:44)
Caryn mentions that making an appointment to get her agency license in Florida was her first big challenge. (12:59)
Caryn shares that the thing she hates the most about phones is it's so hard to get anybody to answer their phone today. (21:19)
Caryn discusses her motivation for joining The Protege and who her coaches are. (22:23)
Caryn discusses her biggest surprise with The Protege and what she loves about it. (27:43)
David discusses what they did differently on this year's Protege that they didn't do last year. (29:57)
Caryn discusses the challenges she faced aside from the The Protege challenges. (33:45)
Caryn mentions what she is learning from the workshops, such as the need to tweak her cold calling scripts. (41:53)
Tweetable Quotes:
“You can't get better if somebody's just telling you what you want to hear. I prefer brutal, honestly. So like, tell me the truth.” - Caryn Seifert
“I took this serious, I took this like this is part of my job. I mean, yeah, I want the Killing Commercial program. But I'm still going to do my best on every single challenge because I know this is going to help me build the foundation going forward.” - Caryn Seifert
“There are some things you know, as I've been going through the production, like, there are some things like, I'm finding like, I need to tweak and change some things, like my cold calling script after the workshop that you and Mick did the premiere selling one recently. I changed up my cold calling script. So I'm using something different now because of that workshop.” - Caryn Seifert
Resources Mentioned:
Caryn Seifert LinkedIn
Streamlined Business Insurance
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Caryn Seifert, President of Streamlined Business Insurance. Caryn talks about her experience on The Protege and how she is applying what she is learning in her agency.
Episode Highlights:
Caryn shares that prior to getting into the insurance industry, she was in B2B sales and management in a lot of different capacities. (3:22)
Caryn discusses the turning point that led her to start her own agency. (5:44)
Caryn mentions that making an appointment to get her agency license in Florida was her first big challenge. (12:59)
Caryn shares that the thing she hates the most about phones is it's so hard to get anybody to answer their phone today. (21:19)
Caryn discusses her motivation for joining The Protege and who her coaches are. (22:23)
Caryn discusses her biggest surprise with The Protege and what she loves about it. (27:43)
David discusses what they did differently on this year's Protege that they didn't do last year. (29:57)
Caryn discusses the challenges she faced aside from the The Protege challenges. (33:45)
Caryn mentions what she is learning from the workshops, such as the need to tweak her cold calling scripts. (41:53)
Tweetable Quotes:
“You can't get better if somebody's just telling you what you want to hear. I prefer brutal, honestly. So like, tell me the truth.” - Caryn Seifert
“I took this serious, I took this like this is part of my job. I mean, yeah, I want the Killing Commercial program. But I'm still going to do my best on every single challenge because I know this is going to help me build the foundation going forward.” - Caryn Seifert
“There are some things you know, as I've been going through the production, like, there are some things like, I'm finding like, I need to tweak and change some things, like my cold calling script after the workshop that you and Mick did the premiere selling one recently. I changed up my cold calling script. So I'm using something different now because of that workshop.” - Caryn Seifert
Resources Mentioned:
Caryn Seifert LinkedIn
Streamlined Business Insurance
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers sits down with Robert Sutter, President of Keystone Insurers Group, and Josh Gurley, Vice-President of HM Advisors, a member of the Keystone Top 20 Program. Robert and Josh talk about the ways in which Keystone is partnering with agencies to provide independent agencies with access to resources, expertise, and relationships to help them be successful long-term.
Episode Highlights:
Robert shares his background and how he got to where he is in the industry. (2:31)
Robert discusses how Keystone started 30 years ago and has grown to 16 states at this current time. (5:26)
Robert explains that their focus at Keystone is to show people three non-insurance ways of handling risk before they ever buy insurance. (13:25)
Robert shares that one of the advantages of the fee basis is the commitment of a contract for three years instead of one. (18:00)
Josh shares a story about one of the people he is coaching who couldn't make the decision. (24:39)
Robert explains and elaborates that one of the things they teach in their top 20 programs is the counterattack. (29:49)
Robert explains that he looks at two types of intentions from producer candidates for Keystone. (34:19)
Robert explains that most producers want to be technically competent about insurance but do not think about what they can afford to lose. (38:46)
Robert adds that their Top 20 program has a whole session regarding centers of influence and how to educate them. (45:57)
Josh explains the exact roadmap they use within the agency, starting with the initial marketing drop. (54:12)
Robert mentions that an online presence has to show that you provide a value that nobody else provides. (59:49)
Tweetable Quotes:
"I would rather have less money from you for the next 25 years than to have a lot of money from you for a year or two because I sold you things you did not need, and somebody else came in and pointed that out." - Robert Sutter
"Don't tell me they won't buy from you in your county because you don’t go to church with them or you don’t go to rotary with them because you've got to provide a value that guy's not providing. And I think that's just somewhat of an excuse for not prospecting." - Robert Sutter
"That's what we think insurance is, is a risk parachute for people that don't want to jump out of an airplane." - Robert Sutter
Resources Mentioned:
Robert Sutter LinkedIn
Josh Gurley LinkedIn
Keystone Insurers Group
HM Advisors
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers sits down with Robert Sutter, President of Keystone Insurers Group, and Josh Gurley, Vice-President of HM Advisors, a member of the Keystone Top 20 Program. Robert and Josh talk about the ways in which Keystone is partnering with agencies to provide independent agencies with access to resources, expertise, and relationships to help them be successful long-term.
Episode Highlights:
Robert shares his background and how he got to where he is in the industry. (2:31)
Robert discusses how Keystone started 30 years ago and has grown to 16 states at this current time. (5:26)
Robert explains that their focus at Keystone is to show people three non-insurance ways of handling risk before they ever buy insurance. (13:25)
Robert shares that one of the advantages of the fee basis is the commitment of a contract for three years instead of one. (18:00)
Josh shares a story about one of the people he is coaching who couldn't make the decision. (24:39)
Robert explains and elaborates that one of the things they teach in their top 20 programs is the counterattack. (29:49)
Robert explains that he looks at two types of intentions from producer candidates for Keystone. (34:19)
Robert explains that most producers want to be technically competent about insurance but do not think about what they can afford to lose. (38:46)
Robert adds that their Top 20 program has a whole session regarding centers of influence and how to educate them. (45:57)
Josh explains the exact roadmap they use within the agency, starting with the initial marketing drop. (54:12)
Robert mentions that an online presence has to show that you provide a value that nobody else provides. (59:49)
Tweetable Quotes:
"I would rather have less money from you for the next 25 years than to have a lot of money from you for a year or two because I sold you things you did not need, and somebody else came in and pointed that out." - Robert Sutter
"Don't tell me they won't buy from you in your county because you don’t go to church with them or you don’t go to rotary with them because you've got to provide a value that guy's not providing. And I think that's just somewhat of an excuse for not prospecting." - Robert Sutter
"That's what we think insurance is, is a risk parachute for people that don't want to jump out of an airplane." - Robert Sutter
Resources Mentioned:
Robert Sutter LinkedIn
Josh Gurley LinkedIn
Keystone Insurers Group
HM Advisors
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Clayton Wood, Managing Partner at C.B. Wood Financial. Clayton discusses how their company consistently reduces employer healthcare spending by 20-40%, and how they can assist agents not only getting more business but also maintain the accounts they already have by increasing stickiness.
Episode Highlights:
Clayton shares how C.B. Wood Financial found a niche in the healthcare industry, where companies with 50 to 500 people are large enough that their claims matter but too small to use large company strategies. (3:34)
Clayton explains the 80-20 rule in the health care business and how it may help firms cut plan costs while improving benefits. (8:37)
Clayton mentions that just by having enough strategies in their toolbox, businesses may produce huge savings for clients simply by knowing how to do it. (11:38)
Clayton shares that they advise their clients to stay on their existing plan if it offers unbeatable pricing. (17:48)
Clayton discusses how they bring in partners if they have questions they cannot answer themselves. (20:14)
Tweetable Quotes:
“Just by having enough strategies in your toolbox, you could deliver a significant amount of savings for clients, just by being able to know how to do it.” - Clayton Wood
“We actually don't quote for clients anymore for prospects anymore. What we've done is we've said, hey, look, send us your monthly bill, we're going to guarantee you a savings rate.” - Clayton Wood
Resources Mentioned:
Clayton Wood LinkedIn
C.B. Wood Financial.
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Clayton Wood, Managing Partner at C.B. Wood Financial. Clayton discusses how their company consistently reduces employer healthcare spending by 20-40%, and how they can assist agents not only getting more business but also maintain the accounts they already have by increasing stickiness.
Episode Highlights:
Clayton shares how C.B. Wood Financial found a niche in the healthcare industry, where companies with 50 to 500 people are large enough that their claims matter but too small to use large company strategies. (3:34)
Clayton explains the 80-20 rule in the health care business and how it may help firms cut plan costs while improving benefits. (8:37)
Clayton mentions that just by having enough strategies in their toolbox, businesses may produce huge savings for clients simply by knowing how to do it. (11:38)
Clayton shares that they advise their clients to stay on their existing plan if it offers unbeatable pricing. (17:48)
Clayton discusses how they bring in partners if they have questions they cannot answer themselves. (20:14)
Tweetable Quotes:
“Just by having enough strategies in your toolbox, you could deliver a significant amount of savings for clients, just by being able to know how to do it.” - Clayton Wood
“We actually don't quote for clients anymore for prospects anymore. What we've done is we've said, hey, look, send us your monthly bill, we're going to guarantee you a savings rate.” - Clayton Wood
Resources Mentioned:
Clayton Wood LinkedIn
C.B. Wood Financial.
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Bryan Mccall, Agency Owner of Sand Springs Agency and Contender on The Protege Season 2. Bryan discusses why he joined The Protege, and what he has learned so far from the competition.
Episode Highlights:
Bryan explains how he got into commercial insurance. (2:55)
Bryan expresses gratitude to Sean and the other Protege participants for their kindness. (9:44)
Bryan, David, and Kyle talk about the amazing Protege belt that IPFS funded for the winner. (18:36)
David mentions Ric Flair as the second professional athlete he called out on the show. (20:26)
Bryan explains why he joined the Protege. (26:15)
Bryan mentions that joining the Protege is like going outside of your comfort zone because commercial insurance was not in his wheelhouse and was not something that came naturally to him. (31:09)
Bryan discusses the most surprising aspect of The Protege process. (34:54)
Bryan believes that things that come easily never last, and that things that last never come easily. (54:27)
Bryan expresses his desire to become a permanent member of the Killing Commercial group. (57:29)
Tweetable Quotes:
“I wanted everybody to know how much fun this can be, you know, going through this process, seeing what's out there for commercial. And really, for me, I know that it's gonna seem like a stretch, stepping outside of your comfort zone. Because commercial was not in my wheelhouse. Like I said, I was licensed. But it wasn't something that came naturally to me.” - Bryan Mccall
“Things that come easy, never last things that last never come easy.” - Bryan Mccall
“My ultimate goal is to become a permanent part of your Killing Commercial group… I want to be a part of that and help anybody else. Whether they want to be mentored by me or not.” - Bryan Mccall
Resources Mentioned:
Bryan Mccall LinkedIn
Sand Springs Agency
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Bryan Mccall, Agency Owner of Sand Springs Agency and Contender on The Protege Season 2. Bryan discusses why he joined The Protege, and what he has learned so far from the competition.
Episode Highlights:
Bryan explains how he got into commercial insurance. (2:55)
Bryan expresses gratitude to Sean and the other Protege participants for their kindness. (9:44)
Bryan, David, and Kyle talk about the amazing Protege belt that IPFS funded for the winner. (18:36)
David mentions Ric Flair as the second professional athlete he called out on the show. (20:26)
Bryan explains why he joined the Protege. (26:15)
Bryan mentions that joining the Protege is like going outside of your comfort zone because commercial insurance was not in his wheelhouse and was not something that came naturally to him. (31:09)
Bryan discusses the most surprising aspect of The Protege process. (34:54)
Bryan believes that things that come easily never last, and that things that last never come easily. (54:27)
Bryan expresses his desire to become a permanent member of the Killing Commercial group. (57:29)
Tweetable Quotes:
“I wanted everybody to know how much fun this can be, you know, going through this process, seeing what's out there for commercial. And really, for me, I know that it's gonna seem like a stretch, stepping outside of your comfort zone. Because commercial was not in my wheelhouse. Like I said, I was licensed. But it wasn't something that came naturally to me.” - Bryan Mccall
“Things that come easy, never last things that last never come easy.” - Bryan Mccall
“My ultimate goal is to become a permanent part of your Killing Commercial group… I want to be a part of that and help anybody else. Whether they want to be mentored by me or not.” - Bryan Mccall
Resources Mentioned:
Bryan Mccall LinkedIn
Sand Springs Agency
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews Tom Larsen CEO of Larsen Insurance Agency. Tom discusses the traits of a great mentor and how important it is to have a great mentor to help you grow your business.
Episode Highlights:
Tom introduces himself and shares his background and how he got to where he is today. (3:19)
Tom explains that his business is 1/3 habitational because he got involved in their local RIA group for landlords. (9:47)
Tom shares that he figured out how to stick with the business in about the 4th year of running his agency. (12:24)
Tom discusses that he is currently mentoring someone at the moment and explains that having a mentor makes things easier. (17:30)
Tom shares that baseball has been his passion ever since he was a little kid, and he even joined the little league when he was young. (22:41)
Tom discusses that he believes in great culture in a company, and looks at his staff as his teammates. (28:53)
Tom mentions that new agents are having challenges joining the industry as companies are not creating many opportunities. (32:45)
Tom shares that he started his cluster 8 years ago and has continued to grow it up until now. (37:42)
Tom advises listeners to find a mentor that doesn't mind sharing experiences and will give them time when they need answers. (43:58)
Tweetable Quotes:
"I look at my staff as teammates. I really believe in my heart, I really believe the culture in an office is everything. And one bad apple can suck a whole bunch. And I truly, truly believe in culture." - Tom Larsen
"I think the insurance companies have clamped down on newbies, and they're not opening their doors much." - Tom Larsen
"Find a mentor. That'd be my number one piece of advice. Find a mentor. It could be somebody that's in a different agency, or maybe somebody that's retired, or, you know, somebody in one of the Facebook groups, whatever, but find a mentor. It could be somebody that doesn't mind sharing the experience that they've been through." - Tom Larsen
Resources Mentioned:
Tom Larsen LinkedIn
Larsen Insurance Agency
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews Tom Larsen CEO of Larsen Insurance Agency. Tom discusses the traits of a great mentor and how important it is to have a great mentor to help you grow your business.
Episode Highlights:
Tom introduces himself and shares his background and how he got to where he is today. (3:19)
Tom explains that his business is 1/3 habitational because he got involved in their local RIA group for landlords. (9:47)
Tom shares that he figured out how to stick with the business in about the 4th year of running his agency. (12:24)
Tom discusses that he is currently mentoring someone at the moment and explains that having a mentor makes things easier. (17:30)
Tom shares that baseball has been his passion ever since he was a little kid, and he even joined the little league when he was young. (22:41)
Tom discusses that he believes in great culture in a company, and looks at his staff as his teammates. (28:53)
Tom mentions that new agents are having challenges joining the industry as companies are not creating many opportunities. (32:45)
Tom shares that he started his cluster 8 years ago and has continued to grow it up until now. (37:42)
Tom advises listeners to find a mentor that doesn't mind sharing experiences and will give them time when they need answers. (43:58)
Tweetable Quotes:
"I look at my staff as teammates. I really believe in my heart, I really believe the culture in an office is everything. And one bad apple can suck a whole bunch. And I truly, truly believe in culture." - Tom Larsen
"I think the insurance companies have clamped down on newbies, and they're not opening their doors much." - Tom Larsen
"Find a mentor. That'd be my number one piece of advice. Find a mentor. It could be somebody that's in a different agency, or maybe somebody that's retired, or, you know, somebody in one of the Facebook groups, whatever, but find a mentor. It could be somebody that doesn't mind sharing the experience that they've been through." - Tom Larsen
Resources Mentioned:
Tom Larsen LinkedIn
Larsen Insurance Agency
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers sits down with Ryan Deeds of Ennabl. Ryan asks David to go through a typical Ennabl discovery process to illustrate what Ennabl does specifically to enable agencies to make themselves better.
Episode Highlights:
Ryan discusses his experiences working with insurance agencies and Insurtech companies. (3:23)
David discusses having his staff, particularly his account managers, work remotely these days. (9:28)
David explains that the only way he could go out and create middle market accounts was to identify who his ideal prospect was and stick to it. (13:07)
David explains how many accounts he has for his company's revenue. (17:39)
David mentions that he created a series on how to Build Passive Revenue Streams in your Agency. (25:25)
David explains that the majority of their work is in residential service contractors and light manufacturing, such as cabinetry. (31:13)
David shares how many carriers they have and how many of them are core relationships. (33:04)
David explains why your operation should not have more than two or three wholesalers. (37:36)
David explains that the only thing his producers do with Hawksoft is build the policy shell. (42:51)
David discusses his projected growth for Florida Risk. (45:29)
Ryan explains his takeaways from David's experiences, as well as what he wants to learn about in their next conversation. (47:13)
Tweetable Quotes:
“As a 20 year old, I never thought in a million years that I would love insurance agencies but that's kind of because I grew up in them and my career was based in them and the people that the people in Independence are just the best and they're just great people great families” - Ryan Deeds
“My agency, still from a technology standpoint, and the ability to handle service work for customers, very much resembles the agency that I started in the dining room in my home, the only way I was able to go out and write middle market accounts was number one, I had to know who my ideal prospect was and not deviate from that.” - David Carothers
“From a servicing perspective, my time is spent at the actual client, it's not spent doing insurance stuff. It's understanding risk management, walking the floor, doing those kinds of things” - David Carothers
Resources Mentioned:
Ryan Deeds LinkedIn
Ennabl
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers sits down with Ryan Deeds of Ennabl. Ryan asks David to go through a typical Ennabl discovery process to illustrate what Ennabl does specifically to enable agencies to make themselves better.
Episode Highlights:
Ryan discusses his experiences working with insurance agencies and Insurtech companies. (3:23)
David discusses having his staff, particularly his account managers, work remotely these days. (9:28)
David explains that the only way he could go out and create middle market accounts was to identify who his ideal prospect was and stick to it. (13:07)
David explains how many accounts he has for his company's revenue. (17:39)
David mentions that he created a series on how to Build Passive Revenue Streams in your Agency. (25:25)
David explains that the majority of their work is in residential service contractors and light manufacturing, such as cabinetry. (31:13)
David shares how many carriers they have and how many of them are core relationships. (33:04)
David explains why your operation should not have more than two or three wholesalers. (37:36)
David explains that the only thing his producers do with Hawksoft is build the policy shell. (42:51)
David discusses his projected growth for Florida Risk. (45:29)
Ryan explains his takeaways from David's experiences, as well as what he wants to learn about in their next conversation. (47:13)
Tweetable Quotes:
“As a 20 year old, I never thought in a million years that I would love insurance agencies but that's kind of because I grew up in them and my career was based in them and the people that the people in Independence are just the best and they're just great people great families” - Ryan Deeds
“My agency, still from a technology standpoint, and the ability to handle service work for customers, very much resembles the agency that I started in the dining room in my home, the only way I was able to go out and write middle market accounts was number one, I had to know who my ideal prospect was and not deviate from that.” - David Carothers
“From a servicing perspective, my time is spent at the actual client, it's not spent doing insurance stuff. It's understanding risk management, walking the floor, doing those kinds of things” - David Carothers
Resources Mentioned:
Ryan Deeds LinkedIn
Ennabl
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and guest co-host Sean Kirby interview Derek Hayden, Winner of The Protege Season 1. Derek talks about his takeaways after the competition and how he has applied them to his career.
Episode Highlights:
Derek shares how he is doing after winning The Protege Season 1, as well as the biggest results for him so far. (4:23)
Derek discusses how he prepares himself in the morning and how he got these steps from the book "Miracle Morning." (10:24)
Derek explains that he does not know what the criteria for teaming up with coaches was during The Protege. (21:18)
Derek shares he has started co-writing a book about transitioning from fully insured group health plans to self funded. (24:33)
Derek explains how everybody on the team invested in themselves by submitting videos and doing their best in the competition. (32:07)
Sean shares that one of the things he has improved since The Protege is his confidence. (39:36)
Derek explains that the thing that separates top-tier producers from the ones who just dabble is taking what they learn and putting it to action. (46:32)
Tweetable Quotes:
"The thing that I think separates your top tier producers from the ones who just tend to dabble, I think, is that they take what they've learned and put it into action." - Derek Hayden
"If you're considering but you don't know if you're going to submit your entry video, just do it because you don't know what will happen. It could be the best decision in your life or your career. Just do it." - Derek Hayden
"When you turn you start your generalists, you're doing you know smaller Mom and Pop being from a small town Main Street. You get what you got when it comes in front of you. When you start hunting, and you start going after accounts because you know that there's a problem you need to solve the confidence that comes with that you win one, you get another, another, you win one, and then it's just, it's easy." - Sean Kirby
Resources Mentioned:
Derick Hayden LinkedIn
Dansig Insurance Risk Advisors
Sean Kirby LinkedIn
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and guest co-host Sean Kirby interview Derek Hayden, Winner of The Protege Season 1. Derek talks about his takeaways after the competition and how he has applied them to his career.
Episode Highlights:
Derek shares how he is doing after winning The Protege Season 1, as well as the biggest results for him so far. (4:23)
Derek discusses how he prepares himself in the morning and how he got these steps from the book "Miracle Morning." (10:24)
Derek explains that he does not know what the criteria for teaming up with coaches was during The Protege. (21:18)
Derek shares he has started co-writing a book about transitioning from fully insured group health plans to self funded. (24:33)
Derek explains how everybody on the team invested in themselves by submitting videos and doing their best in the competition. (32:07)
Sean shares that one of the things he has improved since The Protege is his confidence. (39:36)
Derek explains that the thing that separates top-tier producers from the ones who just dabble is taking what they learn and putting it to action. (46:32)
Tweetable Quotes:
"The thing that I think separates your top tier producers from the ones who just tend to dabble, I think, is that they take what they've learned and put it into action." - Derek Hayden
"If you're considering but you don't know if you're going to submit your entry video, just do it because you don't know what will happen. It could be the best decision in your life or your career. Just do it." - Derek Hayden
"When you turn you start your generalists, you're doing you know smaller Mom and Pop being from a small town Main Street. You get what you got when it comes in front of you. When you start hunting, and you start going after accounts because you know that there's a problem you need to solve the confidence that comes with that you win one, you get another, another, you win one, and then it's just, it's easy." - Sean Kirby
Resources Mentioned:
Derick Hayden LinkedIn
Dansig Insurance Risk Advisors
Sean Kirby LinkedIn
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Stephen Turnbull, President of T5 Insurance Services. Stephen, a fifth generation insurance agent in his family, shares what he is learning as a new agency owner.
Episode Highlights:
Stephen shares his background as a fifth generation insurance agent and what led him to start his own agency two and half months ago. (2:42)
Stephen explains that his search for the best software is seen as an investment for his company. (10:02)
Stephen explains that the biggest thing he is excited about is building that culture that he has always wanted for his business. (15:13)
David shares how he prepared and trained his son to be able to understand the reality of the industry he is committing to. (21:20)
Stephen shares that they are currently using Agency Zoom and HawkSoft because of his familiarity with the software. (25:26)
Stephen explains some of the little things that can impact the mindset of your employees to either stay or leave. (31:37)
Stephen shares that if people do their job and do the right thing, they will be successful. (44:16)
David advises Stephen that, as an agency owner, he should document every process he has to be ready for anything. (47:00)
Stephen shares that one of the things he wanted to accomplish was to be on a podcast, and show appreciation to David for the opportunity. (50:29)
Tweetable Quotes:
"I feel I've done a good job of kind of just growing my brand and the community. You know, I was Steven Turnbull, who worked for Turnbull Insurance, but now I'm Steven Turnbull, who is T5." -Stephen Turnbull
"If you do your job and do the right thing, you're going to be successful. You know, do your job and do the right thing because, at the end of the day, we're solving a problem." - Stephen Turnbull
"As the President of T5, of my own agency, I'm looking at what the best software, you know, what the best system should I be using to build my foundation here." - Stephen Turnbull
Resources Mentioned:
Stephen Turnbull LinkedIn
T5 Insurance Services
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Stephen Turnbull, President of T5 Insurance Services. Stephen, a fifth generation insurance agent in his family, shares what he is learning as a new agency owner.
Episode Highlights:
Stephen shares his background as a fifth generation insurance agent and what led him to start his own agency two and half months ago. (2:42)
Stephen explains that his search for the best software is seen as an investment for his company. (10:02)
Stephen explains that the biggest thing he is excited about is building that culture that he has always wanted for his business. (15:13)
David shares how he prepared and trained his son to be able to understand the reality of the industry he is committing to. (21:20)
Stephen shares that they are currently using Agency Zoom and HawkSoft because of his familiarity with the software. (25:26)
Stephen explains some of the little things that can impact the mindset of your employees to either stay or leave. (31:37)
Stephen shares that if people do their job and do the right thing, they will be successful. (44:16)
David advises Stephen that, as an agency owner, he should document every process he has to be ready for anything. (47:00)
Stephen shares that one of the things he wanted to accomplish was to be on a podcast, and show appreciation to David for the opportunity. (50:29)
Tweetable Quotes:
"I feel I've done a good job of kind of just growing my brand and the community. You know, I was Steven Turnbull, who worked for Turnbull Insurance, but now I'm Steven Turnbull, who is T5." -Stephen Turnbull
"If you do your job and do the right thing, you're going to be successful. You know, do your job and do the right thing because, at the end of the day, we're solving a problem." - Stephen Turnbull
"As the President of T5, of my own agency, I'm looking at what the best software, you know, what the best system should I be using to build my foundation here." - Stephen Turnbull
Resources Mentioned:
Stephen Turnbull LinkedIn
T5 Insurance Services
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck continue their conversation with Peter MacDonald, Co-founder & CEO at Wunderite for a four-part series called "The MacDonald Sessions." In this session, Peter talks about band of pricing.
Episode Highlights:
Peter shares what “band of pricing” is technique and how it can be used to talk about pricing with customers and prospects. (1:56)
Peter explains that price is always going to come up and you can take a proactive risk management approach to discuss it with your clients . (8:59)
David discusses how to be able to know if a client is getting a competitive price. (11:53)
David shares why it is also important to be able to analyze and walk away from an opportunity if needed. (15:44)
Kyle shares the situation where he had a bad prospect, and how he was able to deal with it. (18:31)
Peter and David explain how important it is to pre-qualify clients and prospects, as well as practice recapping what happened during the process of getting a sale. (23:39)
Peter shares that it is important to visualize your success and then analyze it to see what you can do better next time. (26:45)
Tweetable Quotes:
"I think of everything, and I honestly feel like every single problem that our industry has revolved around education." - David Carothers
"I think the best athletes visualize their success and then they watch their footage to see what they could do better next time." - Peter MacDonald
"I think it's helpful to anchor that concept in your customer's mind that there's a band of pricing, and you can be on the high side, you can be on the low side, you can never guarantee you're going to be on the lowest with insurance." - Peter MacDonald
Resources Mentioned:
Peter MacDonald LinkedIn
Wunderite
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Ian Koniak, Founder & President of Ian Koniak Sales Coaching. Ian talks about habits, time management, and other things that will help make you successful.
Episode Highlights:
Ian shares his background story and how he started his current venture, Ian Koniak Sales Coaching. (2:06)
Ian explains why having no sales experience was one of his biggest challenges when he was starting out. (8:55)
Ian discusses how these challenges he experienced taught him about being resilient. (11:20)
Ian explains that he created a business model called "coaching as a service" that is based on customer retention and customer success. (17:26)
Ian discusses how having a core base helps with both renewals as well as referrals, and the key is to give value to customers. (20:49)
Ian shares that updating your vision enables you to create new directions and avoid burnout. (27:38)
Ian elaborates on two types of revenue-generating activities, the creation of a pipeline and the advancement of the pipeline. (35:27)
Ian claims that most people are spending their time on non-valuable activities instead of revenue-generating activities. (40:45)
Ian shares that if people want to know how much their true rate is, they should look at how many hours they really work on revenue activities. (45:21)
Ian explains that the most successful people in the world, across all industries, are those who are truly committed over a long period of time. (49:09)
Ian discusses that if people want to be successful, they don't need to reinvent the wheel but only follow the basic fundamental principles of success. (54:11)
Tweetable Quotes:
"On the road to mastery, there's going to be a lot of mundane work that, frankly, isn't fun. And we're in this dopamine-craving society where people just want immediate gratification." - Ian Koniak
"I know we're talking about ourselves and being the best you can be. But ultimately, to really succeed at the highest level, you have to make it about other people." - Ian Koniak
“Kobe Bryant went to practice hours before practice started because he wanted to be the absolute best. And until you can get yourself psychologically to a point where you're committed to yourself and your family and everybody else, you're going to be your best. The rest of it really doesn't matter.” - Ian Koniak
Resources Mentioned:
Ian Koniak LinkedIn
Ian Koniak Sales Coaching Inc
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Jamie Shanks, CEO of Pipeline Signals. Jamie talks about CRM lead production and the things you can do to integrate your process.
Episode Highlights :
Jamie shares how 10 years ago he invented a sales category called “social selling”. (2:17)
Jamie explains the concept and the whole process of a situation challenge resolution. (5:23)
Jamie shares what a total addressable market is and how it is related to an ideal CRM situation. (9:00)
Jamie discusses three different integration models: CRM integration, Zapier integration, and CSV file organization. (14:52)
Jamie shares that Pipeline Signals has recently entered the insurance world and are currently pioneering this space called relationship signals. (17:27)
Jamie explains social selling, which is broken into two avenues, reputation management or brand management and account based sales development, both of which are very important. (20:18)
Jamie shares that for individual producers, you have to have the relationship signals. (26:59)
Tweetable Quotes:
"CRM, you know, globally still only has something like a 10% or 20%, penalty penetration rate of businesses over a million dollars around the world. So there is still a vast majority of companies that do not use CRM." - Jamie Shanks
"What I say to people is, specifically in professional services, in insurance, you know, what are you selling? You're not selling a product or solution, you are first selling yourself, you are in the relationship space." - Jamie Shanks
"The fastest way to scale your business is to reverse engineer your happy customers, called the sphere of influence, and identify those that leave your happy customers in a sphere of influence and go to other businesses." - Jamie Shanks
Resources Mentioned:
Jamie Shanks LinkedIn
Pipeline Signals
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck continue to interview Peter MacDonald, Co-founder & CEO at Wunderite for a four-part series called "The MacDonald Sessions." In this session, Peter shares useful steps that new agents can take when starting to build their book of business.
Episode Highlights:
Peter discusses the importance of cold calling for new agents that are trying to build their book of business. (3:57)
Peter shares that there are certain things people can do when building their book of business for the first time that big companies can't do. (7:58)
Peter explains that part of building a great book of business is having to do things that don't scale. (10:03)
Peter shares that it is best to have a salesperson as an internal advocate, as they will be eager on your behalf. (14:56)
Peter discusses different types of personalities cold-calling agents may encounter. (16:28)
Peter shares the steps to consider and gives an example of what to do in trying to insure tech companies. (18:42)
Peter explains that he is willing to go through a rough period of time because it gives a more positive return in the long run. (22:27)
Peter shares what having a great professional relationship looks like and the benefits of such a relationship. (24:05)
Tweetable Quotes:
"There are things that you can do if you're building your business for the first time that the big companies, they literally can't like their business model just won't allow for it." - Peter MacDonald
"Salespeople love to win. And, if you got a salesperson as an internal advocate that loves to win, and they're fighting on your behalf, that's awesome." - Peter MacDonald
"I think if you want to build a great business, the advice from Paul Graham, just like the founders of Airbnb, it's like, do things that don't scale. If you want to build a great business, like, that's what you got to do. That's what founders do all the time." - Peter MacDonald
Resources Mentioned:
Peter MacDonald LinkedIn
Wunderite
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers sits down with Andy Mathisen from Glovebox and Jerry Conrey, CEO of Conrey Insurance Brokers & Risk Managers. Andy and Jerry share their insights on one of the lively discussions on LinkedIn regarding the classification and operation of agencies.
Episode Highlights:
Jerry and Andy share their insights from a recent LinkedIn discussion about agencies and how they are classified. (2:52)
Jerry shares his background and how he got his own company back in 2002. (8:20)
Andy explains that it is impossible to grow in a culture that is built on wanting to talk to every client. (13:24)
Jerry shares his motivation to achieve and focus on EBITA as well as maximizing the numbers at his agency. (23:58)
Jerry and Andy discuss why they think insurance careers are great. (30:27)
Jerry explains that, at his agency, every producer has an account manager, and people are associated with producers through a team approach. (36:15)
Jerry and Andy discuss people, operations, and how they impact an organization's culture. (41:03)
Jerry explains that you differentiate your agency by defining what differentiates you from everyone else. (46:55)
Andy shares that different companies entail different mentalities, which require different operations, systems, processes, and staff. (49:54)
Jerry shares that there are people in the industry that really share useful information, and you just have to find the right platform in order to be successful. (56:09)
Andy explains the new category that they have in the company called "client experience." (58:40)
Tweetable Quotes:
"I recognized in this business that you have to build and maintain, if I only focused on sales, too much would be going off at some point in time." -Jerry Conrey
"Who your people are is your culture, and how they communicate and how they work together and how they work within processes is what defines what your culture is." - Jerry Conrey
"Growth is different from retention. In order to grow, you have to retain, obviously, but you have to make sales to keep that growth." - Andy Mathisen
Resources Mentioned:
Jerry Conrey LinkedIn
Andy Mathisen LinkedIn
Conrey Insurance Brokers & Risk Managers
Glovebox
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Kurt Thoennessen, personal risk advisor at Ericson Insurance Advisors & the founder and CEO of RiskRevu. Kurt talks about how digital forms allow insurance agencies to focus on serving their customers instead of spending time gathering information.
Episode Highlights:
Kurt shares his professional background and how he got into insurance.(2:35)
Kurt shares about family and multifamily offices, what they are and how they work. (7:49)
Kurt explains that they are looking to work with people that value them as advisors, people that are looking to them for advice about insurance. (12:47)
Kurt discusses how he deals with gathering the necessary information from high-net worth clients. (18:56)
Kurt shares that at Ericson they built a particular webpage called the "client diagnostics center" with specific client questionnaires. (26:14)
Kurt explains what led him to start RiskRevu which provides prebuilt digital forms for insurance agencies to gather information from their clients. (29:01)
Kurt shares his experiences being invited to conferences and his insights about the difference between then and now. (32:00)
Kurt discusses the possible expansions that he sees, not only for RiskRevu but for the industry as well. (36:04)
Kurt explains that he is most passionate about and focused on sharing with agents that there is a better way to gather information. (40:27)
Tweetable Quotes:
"We're looking to build those relationships, offer quality advice, and do the research so that we're giving accurate answers. But we'll work with anybody who wants to work with an advisor." - Kurt Thoennessen
"Data gathering happens when a client's buying a new home, it happens when they're changing their mortgage, it happens when they're, you know, changing the usage of a car or a boat, or whatever the case is." - Kurt Thoennessen
“Right now, what I'm really passionate about and really focused on is just sharing with other agents that this is a better way to gather information. You can do it with your clients; they will be OK with it. In fact, many of them will like it." - Kurt Thoennessen
Resources Mentioned:
Kurt Thoennessen LinkedIn
RiskRevu
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck continue to interview Peter MacDonald, Co-founder & CEO at Wunderite for part two of the six-part series called "The MacDonald Sessions." In this session, Peter shares how to discuss broker selection with your clients.
Episode Highlights:
David explains that they always educate every single one of their clients regarding broker selection. (4:01)
Peter shares what broker selection means and explains how it works by using Amazon as an example. (7:53)
David shares that some clients do not understand their reputation in the insurance marketplace. (9:56)
Peter explains how he would explain broker selection to his clients in a way that they would be able to understand. (12:42)
Peter explains situations where clients may find themselves in an inaccurate comparison. (14:55)
Peter explains that when people are competing for your business, there needs to be a strategy behind how you're approaching the marketplace. (17:34)
Peter shares what will put the broker in the strongest position to do the best representation for clients and prospects. (20:14)
Tweetable Quotes:
"At the end of the day, nobody has a college course, nobody has a high school class that says how to procure business insurance for your company. It just doesn't exist, right? Our industry is who taught people how to buy insurance." - David Carothers
"What can you do to sharpen your pencil that's going to put the broker in the strongest position to do the best representation for the clients and prospects you're working with." - Peter MacDonald
"There might be markets that you know, you don't have the ability to quote, and so you have to recognize that as well." - Peter MacDonald
Resources Mentioned:
Peter MacDonald LinkedIn
Wunderite
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Kat Billingsley and Tina Meyer of Reliable Premium Management. Kat and Tina talk through the process of calculating, collecting, and remitting premium payments based on payroll recorded each pay period. They offer a Pay-As-You-Go Work Comp Solution to their clients.
Episode Highlights:
Kat shares that she most enjoys talking to people and problem solving which she is able to in her role with Reliable Premium Management. (2:43)
Tina shares her background and what led her to Reliable Premium Management. (7:24)
Kat explains what Reliable Premium Management is and the advantage of having human involvement in the process. (10:33)
Tina shares about their new website that they will be launching that is going to be convenient for carriers and agents. (16:00)
Kat explains how they are making a difference in the industry with the services they offer. (21:11)
Tina shares how carriers leave a lot of exposure on their workers' comp when they do it through the payroll reporting option. (28:24)
Tina explains that one of their services is the assistance of multi-entity policies. (34:47)
Kat shares how she was able to find value from their pre and post-audit assistance services. (39:27)
Tina and Kat explain the process of how they take on an account and look forward to the audit. (40:48)
Kat and Tina share the benefits of having the audit service that they offer and add that it can be provided as a standalone. (45:15)
Tweetable Quotes:
"We are that extra arm of service for you as the agent to be able to provide that customized solution that pays as you go solution for your clients." - Kat Billingsley
"When we provide an audit explanation, and we always copy the agent on that, we want the agent to know exactly why there was a discrepancy if there was one." - Tina Meyer
"Because we were founded by an agent, with the intention of serving other agents, it really kind of fits all of those needs without stepping on anybody's toes." - Tina Meyer
Resources Mentioned:
Kat Billingsley LinkedIn
Tina Meyer LinkedIn
Reliable Premium Management
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Jotham S. Stein, Principal of the Law Offices of Jotham S. Stein P.C. and author of Negotiate Like A CEO. Jotham shares how his book can help people learn the true meaning of negotiating like a CEO and how important employment agreements are.
Episode Highlights:
Jotham shares his educational and professional background that led to where he is today. (2:14)
Jotham explains what it means to negotiate like a CEO. (3:27)
Jotham shares that, unfortunately, some of the worst fights are not only between college buddies but family fights. (9:37)
Jotham explains some of the worst-case scenarios he has encountered in an entrepreneurial situation. (14:27)
Jotham shares that his book is very useful for people who are inventing new things and want to create a company around what they have invented. (17:31)
Jotham discusses ways to promise people things that would not require extra time. (25:03)
Jotham explains that equity disputes come from people not having enough equity when they helped build a better book of business. (31:47)
David mentions that you can either have an abundance mindset or a scarcity mindset and that too many people at the top have a scarcity mindset. (33:41)
Jotham explains that phantom equity is used to give someone equity without giving them any shares at all. (36:30)
Jotham elaborates on the importance of in-person visits, compared to zoom and telephone calls. (41:33)
Tweetable Quotes:
"One of the worst case scenarios, let's say, is the entrepreneur situation. Let's say, they take an outside investor into their company, and they build their company, and then they get forced out before their metaphorical baby." - Jotham S. Stein
“If you have people that are inventing things that want to create a company around what they invented, and they're taking in investors, you better read my book.” - Jotham S. Stein
“You either have an abundance mindset or a scarcity mindset. And too many people who sit in my chair have a scarcity mindset.” - David Carothers
Resources Mentioned:
Jotham S. Stein LinkedIn
Law Offices of Jotham S. Stein P.C.
Negotiate Like A CEO
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
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
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
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
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
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
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
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
In this episode of The Power Producers Podcast, David Carothers interviews Aaron Levine from Luxury Insurance Group. Aaron shares what Luxury Insurance Group is all about and how they are utilizing technology to provide that white glove service to their clients.
Episode Highlights:
Aaron shares his background experience and how he got into the Luxury Insurance Group. (2:40)
Aaron explains that their tech stack needs some work, but a good tech stack is like the white glove service that they are providing. (10:24)
Aaron explains that asking prospects how their buying process goes is essential to enhancing inbound opportunities. (17:39)
Aaron shares that they are 50-50 on personal and commercial lines and write a lot of high net worth, personal lines, property, and hospitality accounts. (22:00)
Aaron talks about winning deductibles on commercial property in New Jersey. (24:57)
David discusses that most of the agencies out there are more about themselves in terms of the selling process. (30:43)
Aaron shares that his favorite thing to do is to learn about the process. (32:27)
Aaron discusses his producers and what they are currently working on, especially in terms of their marketing drops. (35:00)
Aaron shares how they utilize their CRM in terms of marketing and branding. (39:45)
Tweetable Quotes:
"The data is public. There are no secrets, and we're not all about keeping secrets. We're going to keep it all open and honest." - Aaron Levine
"Almost every agency out there, for the most part, is very selfish in the selling process. It's all about them. It's very rarely about the prospect." - David Carothers
"A win is continuing the conversation, getting that next meeting, whether it's in person, or via Zoom with me on the phone. That to me is a win." - Aaron Levine
Resources Mentioned:
Aaron Levine LinkedIn
Luxury Insurance Group
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers sits down with Shawn Fitzgerald, Craig Bender, Scott Hobson, Mike Crowley, Doug Benz, Roe Polczynski, Cayla Carrillo in New York at the Go Big event for the Big I of New York.
Episode Highlights:
Shawn shares he has enjoyed meeting many people that he had only met digitally in person at the Go Big event. (4:23)
Shawn explains that one thing he learned at this event is that one of the areas where he definitely needs to step it up is the blogging space. (8:05)
Craig shares that he got into the insurance industry with the influence of his mom, who was also in the industry. (10:34)
Craig mentions that his favorite part about being part of the insurance industry is building relationships. (13:07)
Scott explains that lobbying the public is more like storytelling and advocacy. (17:19)
Mike shares his experiences and takeaway from the Go Big event, which their team found to be very informative. (27:31)
Doug explains that he enjoys learning about the cutting-edge stuff that is out there and about clean data at the event. (34:43)
Cayla and David talk about what a great person James Jenkins is. (39:14)
Cayla shares that as a sales organization, you have to know the numbers and metrics in order to grow. (45:01)
Cayla mentions that it is essential to build relationships and trust with customers to be able to customize for them. (51:19)
Tweetable Quotes:
"I mean, you learned so much. So many different things, seeing what different companies offer, and really seeing how you can expand your own agency from just coming to an event like this." - Shawn Fitzgerald
“Every independent agent, every Big I member, is and can be a very powerful lobbyist for the industry that we love so much, and for our customers." - Craig Bender
"We became friends. They know us. The comfort level is through the roof. We never sell on the first call, because we don't know them. How can we customize for them?" - Cayla Carrillo
Resources Mentioned:
Mike Crowley LinkedIn
Craig Bender LinkedIn
Shawn Fitzgerald LinkedIn
Scott Hobson LinkedIn
Roe Polczynski LinkedIn
Cayla Carrillo LinkedIn
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Carey Wallace of Agency Focus. Carey shares how technology affects the value of your agency.
Episode Highlights:
Carrie explains that technology in your agency is either a profit center or a cost center, depending on how you utilize it. (6:49)
David shares that it is not just important to introduce new technology but you also have to know how to utilize it. (8:19)
Carrie explains the importance of encouraging agents to start with the problem and not the solution when determining the technology they might need. (13:59)
David thinks that people don't use technology because once they have done things the same way for a long time, they lose the feeling that they need it. (18:01)
Carrie shares that the number one reason people don't invest in technology is that they were burned by it at some point. (20:30)
Carrie shares that consumers are changing and technology allow us to be able to change with them. (21:25)
Carrie explains that technology plays a huge part in transitions, attracting talent, and maximizing the value and success of your agency. (23:59)
Tweetable Quotes:
"I think we can all agree that technology in your agency is either a profit center or a cost center. And the reality is if you're not utilizing it, it is a cost center all day long."- Carey Wallace
"It's just a fact, we are changing, consumers are changing, and technology allows us to be able to change with them." - Carey Wallace
"I fear that for many people out there. They don't use technology, not because they're necessarily scared of it or anything else. They just have done things the same way so many times that they don't even feel like they need it. " - David Carothers
Resources Mentioned:
Carey Wallace LinkedIn
Agency Focus
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Davie Holt, a National Sales Practice Leader. Davie shares how IPFS is refining and redefining the way that premium payments and financing are done.
Episode Highlights:
Davie explains why IPFS has always been on the front edge of technology. (12:55)
Davie explains that IPFS's strategy has always been to acquire and buy premium finance companies that couldn’t make it and have a strong track record of keeping those employees. (17:19)
Davie explains willful or ignorant misrepresentations of the policy is one of the most common pitfalls they encounter. (22:00)
Davie elaborates on how pushbacks are less likely to happen when people give customers a more narrow path to do business with them. (28:15)
Davie shares that when he started with IPFS, he was surprised to learn that, unlike IPFS that funds the markets on behalf of the agent, many bank-owned companies fund the agents directly. (33:54)
Davie shares that at IPFS, their goal is to properly train on how to sell and offer premium. (39:52)
Davie shares how IPFS works to build relationships with their clients by assigning them two dedicated people to them, an account executive and an advocate for your agency. (47:19)
Davie shares that he finds the insurance industry a great place to make a living. (53:41)
Tweetable Quotes:
"The history of IPFS has always been to acquire and buy premium finance companies that couldn't make it. And actually, we have an incredible track record of keeping those employees. So we're not slash and burn." - Davie Holt
"We knew that with as many people as possible on coverage, training, standards, and document marketing, we were never going to make experts out of insurance agents on premium finance." - Davie Holt
"Our business was built off the backs of agents as everybody listens and so we owe that to you. We owe that to trying to continue to innovate and make your process easier." - Davie Holt
Resources Mentioned:
Davie Holt LinkedIn
IPFS
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers comes to you live from the Big I of Kentucky event in Ohio with several guests, including John Ison, Tara Purvis, Adam Sheridan and Adam Murphy.
Episode Highlights:
John Ison shares that he is from West Liberty, Kentucky and has a two location agency. (2:39)
John Ison shares how their agency is utilizing technology now and the difference it makes. (5:46)
John Ison talks about how beneficial, especially for renewals, video conferencing is as well as Zoom meetings. (10:34)
Tara Purvis discusses how the event and the industry are blessed with a lot of female participation. (15:57)
Tara Purvis shares that the big guys in the industry are getting involved in educating and advocating for other people that are new in the industry. (20:57)
Adam Sheridan shares his position as the producer, and what his niches are. (26:43)
Adam Sheridan explains that the onboarding process for new clients is one thing he learned from the event that he will be applying to their company. (30:37)
Adam Murphy shares his background story and his experience in the industry. (37:08)
Adam Murphy shares that the biggest lesson he has learned is respect for entrepreneurship and the effort involved in turning a dream into a reality. (39:50)
Adam Murphy talks about how best practice is being able to implement a process. (49:43)
Adam Murphy reminds everyone not to be afraid to learn from others and to respect their elders. (56:47)
Tweetable Quotes:
"There are free resources to get information about clients to find ideal clients. You just have to figure that out." - John Ison
"I think the biggest lesson I've learned is respect for entrepreneurship. Like what it really takes the grind to take something from a dream and turn it into a reality." - Adam Murphy
"I think the thing I would say about entering a multigenerational agency is, you know, don't be afraid to learn from others, respect your elders, and everybody's got something to offer." - Adam Murphy
Resources Mentioned:
John Ison LinkedIn
Tara Purvis LinkedIn
Adam Sheridan LinkedIn
Adam Murphy LinkedIn
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Carey Wallace of Agency Focus. Carey continues the conversation about how you can increase your agency valuation.
Episode Highlights:
David shares the time when he had a real accident in his life and how it was related to his weekend. (6:43)
Carey explains that when people read headlines, they have to understand what it is about and how it applies to their agency. (12:21)
Carey shares why a $2 million agency should place 80% of their book with their top six carriers. (16:31)
Carey talks about how concentration is a big factor in your agency, and how it will help your agency if agency owners have niches. (18:09)
Carey explains how it would be harder to anticipate things if people minimized their books of business. (23:36)
Carey reminds listeners that concentration is a key tool in relation to growing your book of business. (24:14)
Carey suggests talking about risk factors and ways people can themselves be an acquirer. (26:02)
Tweetable Quotes:
"You need to make your agency able to operate without you. That's counterintuitive to what someone is comfortable with." - Carey Wallace
“With concentration, you have to think about it and a lot of people don't look at their book of business through that lens." - Carey Wallace
"If they are aware that that's something that's in place, that there's an agreement, it's less likely they'll walk away with your book of business, and you at least have recourse to protect that." - Carey Wallace
Resources Mentioned:
Carey Wallace LinkedIn
Agency Focus
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Dillon Reed of Wunderite. Dillon talks about how to change the status quo in people's day-to-day businesses and help them advance into the next generation of the insurance business.
Episode Highlights:
Dillon shares his background story and how he made his way into sales. (5:01)
Dillon explains that his firsthand experience of having InsurTech is what attracted him to it. (10:10)
Dillon talks about the intercom on their website and how sometimes people confuse them with InsurTech that you can buy insurance from. (16:00)
Dillon shares that his favorite part about what he does is being able to talk to different people across the nation. (21:08)
Dillon shares how people tend to forget that, as a software company, they also run into evaluating other software tools. (26:05)
Dillon explains that an in-depth overview of their day-to-day basis of service is to digitize the last frontiers of the insurance industry. (32:20)
Dillon explains that their company will continue to build in the direction of what they hear feedback from their customers on. (40:58)
David talks about the event that they have put together that would be in Key West. (41:52)
Dillon shares that knowing what people need to do is so important as it creates clarity around what they are doing. (48:18)
Tweetable Quotes:
"We're just going to continue to build in the direction that we hear feedback from our customers on and from our prospective customers." - Dillon Reed
"I think insurance is the financial lubrication for the economy. It's one of the largest industries in the world. If you look around, everything's insured, from your phone to your desk, to your car, to your life, to your potential income in the future." - Dillon Reed
"Knowing what you need to hit or need to do is so important. And it creates clarity around what you're doing." - Dillon Reed
Resources Mentioned:
Dillon Reed LinkedIn
Wunderite
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers chats with Kaleigha Cramer, Kai Smith, and Eddie Chen about their experiences at the Insurance Soup Live Conference.
Episode Highlights:
Kaleigha and Kai share what made them decide to come to Arlington for the Insurance Soup Live Conference. (2:22)
Kaleigha explains that her favorite things about the Insurance Soup Live Conference are getting to network with everybody, meeting new people, and making new friends. (4:47)
Kai explains that this conference had completely different crowd than what she is used to, which she really enjoyed. (6:31)
Kai shares that the blend of captive and independent agents at the conference at the conference was unique and showed that they can all learn from one another. (8:01)
Kai advises people to do what is best for them, whether that be an independent or a captive agent. (11:37)
Kaleigha talks about the importance of investing in ourselves as independent agents. (13:11)
Eddie shares his background story and what he has found most interesting at the conference. (16:05)
Tweetable Quotes:
“Everybody here has been incredible. So much knowledge. There has been tons of things I've learned.” - Kaleigha Cramer
"Developing those friendships and just meeting people for the first time has been incredible, people who have taught you so much over the past several years." - Kai Smith
"Family-owned and operated businesses are what we are really proud of and anything we can do to help out in the excess and surplus lines and anything premium financing, we'd love to take care of your business." - Eddie Chen
Resources Mentioned:
Kaleigha Cramer LinkedIn
Kai Smith LinkedIn
Eddie Chen LinkedIn
Station 5 Insurance
Imperial Premium Finance Specialist
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Carey Wallace of Agency Focus. Carey continues the conversation about how to determine the value of your agency through benchmarks.
Episode Highlights:
Carey explains that one of the things to look at when finding your agency's value are benchmarks, and measuring your performance compared to benchmarks. (1:30)
Carey shares that it's impossible to make an investment in your business without being able to measure the return. (5:26)
Carey explains that if you don't have technology in place, you're not going to be able to answer questions and will end up selling at a discount. (9:46)
David mentions that there is a lot of innovation and a lot of technology out in the industry but isn't ready yet. (11:36)
David shares a story of a guy he talked to and explains the difference between HubSpot and HawkSoft. (14:51)
Carey explains the difference between someone who buys technology and utilizes it and someone who doesn't. (17:47)
Carey shares that the next thing that needs to be talked about are the factors that determine the multiple inside an agency. (19:18)
Tweetable Quotes:
"I will tell you, you just took us back to someone who buys technology and doesn't utilize it. That is an expense. Someone who buys technology and utilizes it measures the success. That is an investment." - Carey Wallace
"The next thing we need to talk about is that magical multiple that we all talk about. What are the factors that determine the multiple inside an agency?" - Carey Wallace
"I think there is a lot of innovation and a lot of technology. I also think there's a lot of innovation in technology that tactically probably isn't ready to be agency facing yet." - David Carothers
Resources Mentioned:
Carey Wallace LinkedIn
Agency Focus
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Eric Rich of Mentor Insurance. Eric talks about the incredible potential in the insurance industry as well as some of the things we need to consider in order to be successful.
Episode Highlights:
Eric shares his background story and how he ended up in the insurance industry. (3:47)
Eric explains that the biggest lesson he learned was being able to understand the sense of his grit. (8:50)
Eric talks about his goal of being able to share his job opportunity with others and let them know that there is a lot of potential in this industry. (14:24)
Eric recalls the moment he saw the value that people create and problems being solved for clients in the industry. (20:57)
David shares that Cole’s Directory is something that continues to be useful today. (25:17)
Eric talks about always telling his agents that a good agent is not afraid to share bad news with their clients. (32:33)
Eric shares that the biggest mistake that he is seeing in newer producers is the lack of persistence. (40:41)
Eric advises the listeners to find a friend in sales but in a different industry. (43:25)
Eric explains why we, as an industry and as producers, do a poor job of explaining to our clients what we do. (52:52)
Eric discusses that to be successful, you have to have patience and persistence in the industry. (1:00:45)
Tweetable Quotes:
"I never knew that I could even be in this position or have this type of success. I never knew this job was out there. I tell all my young producers, just the greatest kept secret in the world. It's the greatest case, the greatest job in the world." - Eric Rich
"I always tell my agents that a good agent is not afraid to share bad news with their client. And I say, get it out in the open as soon as possible." - Eric Rich
“I'm a big person on persistency. I always say that's the number one thing you have to have in this business. You've got to be persistent." - Eric Rich
Resources Mentioned:
Eric Rich LinkedIn
Mentor Insurance
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Vonda Copeland, CPIA, CWCU, VP of Operations at Copeland Insurance Agency, and Custom Harvest Insurance, LTD. Vonda talks about the obstacles she faced in succeeding her goals in life, what they have been accomplishing in their agency, how they utilize technology, and how they manage their producers.
Episode Highlights:
David introduces Vonda Copeland. (1:24)
Vonda shares her background and her career in the insurance industry. (3:59)
Vonda mentions that she is currently doing a lot of work with foster kids. (7:00)
Vonda shares a story about her parents. (9:31)
David mentions that he would instead teach his kids the right way to guide themselves through a properly calibrated moral compass than a full wallet. (18:14)
Vonda shares how her offices look like. (18:49)
Vonda says that they started as a community-based operation. (20:34)
What was the process that they used to determine what they want to automate and leverage technology? (22:36)
Along the lines of technology, does Vonda and her team use a CRM? (26:09)
Vonda mentions that they are currently using Agency Zoom, and they are gradually building a better pipeline system. (26:13)
Kyle mentions that not all producers are early adopters. (28:25)
David shares that he’s not advocating the agencies moving to everything fully automated, but sometimes agencies miss out on business because they don't make it easy for people to do business. (34:04)
Vonda says that automation exposes your weaknesses. (35:46)
Vonda mentions that she created her technology stack list. (35:56)
Vonda shares that she’s always continually looking for something that will integrate, and if it does not integrate, she refuses to make her people do double entry. (37:47)
Vonda explains why she loves using Podium. (38:26)
Vonda mentions that they started using the beta testing of Podium’s video chat. (41:57)
Vonda shares her feedback with AMS 360. (44:38)
Vonda shares a story about the conversation she had yesterday with a couple of people in her smaller Hangout group. (51:53)
David talks about his biggest fear. (54:37)
Do Vonda and her team have it set up on individual policies, or is it a program that they administer as the captive? (59:14)
Vonda shares that the work comp program is a program that they have put together with a new carrier. (1:00:12)
Tweetable Quotes:
“It took a while of trying different things. But when you do that, you're not afraid of change. When you go through that...you're not afraid to try something and suck at it because it's like, “Okay, try something else.” And I think that definitely changes my approach to how I work in the office.” - Vonda Copeland
“You have to really be careful where you're going to allow that automation into where you feel comfortable to where it's not going to do more harm than good.” - Vonda Copeland
“Gratitude is the name of the game.” - Vonda Copeland
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Vonda Copeland LinkedIn
Copeland Insurance Agency
Custom Harvest Insurance, LTD
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Carey Wallace of Agency Focus. Carey talks about the importance of EBITA and how to determine the true value of your agency.
Episode Highlights:
David shares that Florida trucking insurance is doing great in the industry right now. (4:08)
Carey shares her financial background and how she started in the industry. (7:09)
Carey explains that carriers and agency owners must think in terms of revenue, as it is the key to driving the business. (9:11)
Carey shares that they have helped build a program that is targeted at looking at all parts of being an owner. (13:28)
Carey shares the numbers people need to focus on to determine their agency's value. (15:25)
David mentions that most people think that if a problem comes in, they can just sell their way out. (17:30)
Carey talks about looking into past revenue before making an investment in a company. (19:28)
Carey discusses the importance of EBITA and explains that you have to think in EBITA, in order to make a good, sound business decision. (21:08)
Tweetable Quotes:
"I see myself as being a business partner to agents that want to transition, want to grow, and want to maximize the value of their asset and run it like a business." - Carey Wallace
"If you're going to make an investment, the revenue is one data point. But what's the predictability that that agency is going to continue to produce that way? What's their retention rate? Are they growing? There are so many things to ask." - Carey Wallace
"It's not your top line revenue, it's the profit inside that agency. That's the number that gets multiplied by a factor in order to determine the value of your agency." - Carey Wallace
Resources Mentioned:
Carey Wallace LinkedIn
Agency Focus
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Greg Zahn, AVP of Multiline and Digital Strategies at Highland Capital Brokerage. Greg talks about his career in the insurance industry and the significance of life insurance. He also discusses the benefits of understanding the disability policy in life insurance, and the value of digital tools in creating systems that are more accessible. Episode Highlights:
David introduces Greg Zahn. (1:29)
Greg shares his background in the insurance business. (2:02)
Greg says that most of what they do at Highland will make sense as to why he works on a digital footprint, and what he does for PNC and benefits organizations. (2:21)
Greg shares the goal of their company. (3:01)
Did Greg work initially in life insurance after college? (4:42)
Greg says that his experiences led him to understand many aspects of life insurance. (5:52)
Greg shares that one of the key elements of life insurance is a disability. (12:41)
Greg mentions that term insurance is a great and easy solution to get the death benefit done. (13:43)
What is the significance of disability? (15:45)
Greg shares that there are plenty of options about disability to where a business can have a disability policy for their customer, or their employee. (16:57)
Greg mentions that life insurance has a significant aspect when it comes to cash value inside the permanent policies. (17:53)
Greg shares that when it comes to death and disability, facts and figures are helpful, and sometimes they like stories of where things have gone wrong, but at the end of the day, helping them understand that a minor cost compared to a major issue is vital. (24:02)
Greg thinks that having a network is a big factor. (28:05)
David says that most financial planning companies out there are beholden to their products, and they are not regularly the best thing for the situation. (29:54)
Greg shares the beauty of brokerage. (31:05)
Greg mentions that Easy Life is an electronic application system and a client-facing tool. (34:54)
David mentions that they have the Easy Life widget on their Florida Risk Partner website. (37:13)
What are the biggest obstacles that Greg has come into when trying to engage with firms like them? (42:38)
Greg explains the methodology with Highland Capital Brokerage. (44:20)
Greg mentions that they have a new digital tool coming out that is more educational. (47:13)
Greg says that Highland Capital Brokerage has support systems that can help those transactional opportunities and don't bury you in opportunities that are not cost-effective for you to work on, but at the same time making sure that you're visible. (47:50)
David says that the thing he likes about digital more than anything else is the analytics that he gets from it. (48:45)
Greg thinks that being digital, being aware, being connected, and the data in understanding how to read it is vast. (50:58)
Tweetable Quotes:
“The ability to help individuals find the right solution for their family and their needs, and work with insurance professionals that may not traditionally do life insurance is an awesome thing to do every day.” - Greg Zahn
“If you don't have a good partner that you can trust that's going to deliver the right solutions to your customers, then don't go into it just to chase money, do it for the right reasons.” - Greg Zahn
“Google is not the most helpful thing for good objective research, but customers do it. So make sure you understand, really work around the value, and anyone that's bringing a soul product, and not the market is not really truly bringing value to your customer solutions.” - Greg Zahn
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Greg Zahn LinkedIn
Highland Capital Brokerage
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Bradley Flowers, Founder of Portal Insurance and Co-Host of The Insurance Guys Podcast. Bradley discusses content creation, where you should spend your ad dollars, and how to build your brand and market your business.
Episode Highlights:
David introduces Bradley Flowers. (1:24)
Bradley shares how he met David. (2:25)
Bradley shares his story and his work background. (3:29)
Bradley shares how he got into the insurance industry. (4:55)
Bradley talks about working at a state farm agent to learn P&C. (6:38)
Bradley talks about The Insurance Guys Podcast. (7:26)
Bradley says that they use the podcast as a vehicle to get to know people like Ryan Hanley. (7:56)
Bradley shares how he started the Portal Insurance. (8:13)
David shares how he invites his guest to join him in the podcast. (9:45)
David talks about the email that he received from Josh Gurley. (10:01)
Where would Bradley advise producers or agencies to start over building their brand? (17:27)
Bradley talks about the video studio he built at the back of his office. (19:27)
Bradley shares his own process of creating content. (24:31)
Bradley believes that people should create the content they’re most passionate about. (30:55)
Bradley shares what happened to Mitch Gibson after following his advice. (36:13)
Bradley just started a local podcast. (37:07)
Bradley says that podcasts can become the epicenter of all of your marketing where everything is derived from. (40:05)
Bradley shares the keys to their success. (43:08)
David says that wegotyourpodcast.com as an easy, out of the box way to get your podcast produced. (45:44)
What has been the biggest challenge of Bradley? (48:08)
Bradley talks about the first content he created. (59:13)
Tweetable Quotes:
“One thing that I love to do is I just love connecting with people.” - Bradley Flowers
“I'm a big believer in hiring against your weaknesses.” - Bradley Flowers
“The key is not reaching a bunch of people. The key is finding the right ones” - Bradley Flowers
Resources Mentioned :
David Carothers LinkedIn
Kyle Huock LinkedIn
Florida Risk Partners
Bradley Flowers LinkedIn
Portal Insurance
The Insurance Guys Podcast
We Got Your Podcast
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about the importance of having driver selection criteria established on the front-end and communicating that to your clients.
Episode Highlights:
David talks about the call that he had with someone where they talked about a contentious meeting all based on having drivers with bad driving record. (2:07)
David talks about how bad driving records are impacting the hiring plans of companies. (4:41)
David discusses the importance of providing a driver selection criteria. (6:49)
David shares that many companies who have bad comp claims are auto-related. (9:13)
David explains that your agencies need to have criteria established and clients should be MVR’s in house. (10:05)
Kyle asks David if there are any restrictions on employees accessing their MVR. (12:33)
Tweetable Quotes:
"I'm pretty sure that everybody that is looking for a job in the trades right now has a crappy driving record. That's just my theory because the ones who don't are always getting hired." - David Carothers
"I think that you know, if the client is of decent size, you're totally right, they should have some sort of MVR check capabilities on their end" - Kyle Houck
Resources Mentioned:
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In today’s throwback episode of The Power Producers Podcast, host David Carothers and co-host Kyle Houck, interviews Bob Klinger, President and CEO of Klinger Insurance Group located in Germantown, Maryland. Bob discusses his military background, what brought him into the insurance industry, marketing strategy, his staff, and giving back. Episode Highlights:
How did Bob Klinger get into the insurance industry? (2:49)
Why did Bob Klinger decide to start a dry cleaning business? (5:37)
Bob explains the importance of working in various roles to understand the pieces and parts of what made their operations tick. (8:36)
Why does Bob take his staff on field trips? (13:23)
Bob shares how his Ranger mentality impacted his managing style and how he has evolved. (15:26)
Everyone that holds a desk at Klinger Insurance Group has to hit numbers, daily/weekly goals, and incentives. (17:26)
Hiring and probationary periods. (18:24)
Prioritizing your daily routines. (26:41)
Using your CRM and tracking outbound calls. (28:46)
Why is it important to execute a defined process? (30:58)
Marketing, advertising, and giving back to the community. (39:01)
Tweetable Quotes:
“I think that if anything gives me chills, it’s giving back. You know, I grew up pretty easy, I grew up pretty poor, and so being in this industry has given me a blessing and a standard of living to give back.” - Bob Klinger
“No matter who you are, you have to execute the process that has been defined, that has been proven to be successful to perfection.” - David Carothers
“I just realize that not everybody's going to think like you; in some cases, that's good.” - Bob Klinger
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Bob Klinger LinkedIn
Klinger Insurance Group
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Jason Kilgo, Founder of KilGO Insurance. Jason talks about how they treat their clients, providing the best rate with a good policy, and making sure their clients are satisfied. Jason also shares how his team has been working remotely even before the quarantine and how he manages Zoom meetings with clients.
Episode Highlights:
Jason explains where he came from, and how he got into where he’s at today. (17:03)
Jason shares how he met Warren Buffet. (19:47)
Jason shares one thing he learned at the shareholder meeting. (24:04)
Jason shares why he chose the insurance business. (24:41)
Jason says that he got a big ego and a lot of ambition personality in his early 20’s. (26:17)
Jason shares what makes him do mortgages. (27:19)
Jason shares why he decided to get back into insurance. (29:26)
Does Jason ask everyone if they’re delighted at the end of the call? (30:15)
Jason says that mortgages really gave him flexibility and entrepreneurship. (33:25)
Jason talks about his strategy. (34:02)
Jason says that if you call his company, you can expect the best rate with good policy coverage. (35:28)
How often does Jason normally work from home? (43:21)
What are the things that Jason looks for when he’s at meeting with loan officers in terms of partnering? (44:28)
Jason thinks that having a survey is important. (55:03)
Jason shares how they treat their clients. (56:53)
Tweetable Quotes:
“If I'm going to sell something, I want to sell something that's a need. I don't want to sell a want.” - Jason Kilgo
“The number one thing for a culture of what people want out of a job is they want freedom.” - Jason Kilgo
“I think we're good, but we could be better” - Jason Kilgo
“I feel like every job has been a great stepping stone to where I am now.” - Jason Kilgo
Resources Mentioned:
LinkedIn- David Carothers
LinkedIn- Kyle Houck
LinkedIn- Jason Kilgo
KilGO Insurance
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about fleet safety and how beneficial it is for sales. They also discuss mirroring and labeling prospects.
Episode Highlights:
David explains why he would always try and use the carrier for fleet safety. (3:33)
David explains that when he was a start-up in the tech perspective, he was only using a laptop and Microsoft Office. (7:17)
David talks about investing in training programs and email automation when starting up. (9:24)
Kyle explains that the nice thing about using KPA or Mineral is that the reports are pushed out to the employees and it helps with monitoring and accountability. (11:05)
David shares about a call that he had with someone in a Killing Commercial. (12:16)
David explains about mirroring and labeling somebody as a prospect and what you should sound like. (16:35)
David explains that agents see KPA or Mineral as a way to get business and not as a way to keep it. (17:49)
Tweetable Quotes:
"I think that the thing that's really nice about using KPA or Mineral or really, you know, other ones that are out there is that it pushes it out to the employees, quarterly or monthly." - Kyle Houck
"When you're mirroring and labelling somebody as a prospect, you always want to say, it sounds like, it feels like, it seems like. Not, I'm hearing, I'm feeling or whatever. Because the second you put “I” into the conversation, it becomes selfish and about you and not about them." - David Carothers
Resources Mentioned:
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Scott Beene, the CEO of Diversicom Corporation. Scott Beene talks about his unique views of Managed Services and why you should invest in Managed Service Provider. Scott also shares that he participated in four different groups and why building trust and relationships with clients is important.
Episode Highlights:
David introduces guest Scott Beene. (1:43)
Scott Beene shares his background story. (2:33)
Scott Beene shares his experience working with the second world’s largest distributor of technology. (7:13)
Scott Beene talks about the win-win profitable relationship. (11:28)
Scott Beene was kind of naive when he started because he was an engineer. (12:35)
Scott Beene talks about what the cybersecurity threat has done with the industry. (14:06)
Scott Beene says that when he started, the term “Managed Service” doesn’t exist yet. (15:47)
When Scott Beene got engaged with a prospect, how does he determine if he’s gonna work with them or not? (18:25)
Scott Beene discusses the two questions he asks a prospect. (19:56)
What's the biggest obstacle that Scott Beene runs into when he is dealing with prospects? (24:59)
Scott Beene shares that they literally treat the technology in the client’s business as a virtual employee. (28:15)
Scott Beene has worked with four professional groups. (33:45)
Scott Beene shares the hardest part about running an IT company. (35:55)
Scott Beene talks about the reaction of prospects about the job description. (43:00)
Scott Beene talks about his favorite author. (55:06)
Why does Scott Beene ask for a job description from clients? (49:57)
What is the daily routine of Scott Beene? (53:07)
Tweetable Quotes:
“I have a goal to get to a point to where I only look at my email three days at three times a day”- Scott Beene
“Most of my peers laughed at me, thought I would never gonna make it. And today, over half of IT companies are running their business using this model called Managed Services”- Scott Beene
“I’m trying my best not to start my week before it's finished”- Scott Beene
Resources Mentioned:
David Carothers -Linkedin
Kyle Houck -Linkedin
Florida Risk Partners
Scott Beene -Linkedin
Diversicom Corporation
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Chris Langille, Founder of Advisor Evolved. Chris talks about website development, the importance of SEO and pay-per-click, knowing the entire process from top to bottom in doing niche marketing, and the importance of having a VA in the organization.
Episode Highlights:
David introduces guest Chris Langille. (1:24)
What does Chris Langille do with traffic generation? (4:14)
Chris Langille talks about how often things change in business throughout the course of a year or two. (7:25)
Chris Langille shares his unique background story. (11:47)
Chris Langille got to the point where he was running the agency by himself. (14:31)
Chris Langille talks about website marketing. (17:05)
What is the mistake that most people make with marketing? (22:32)
There are certain things that you shouldn't waste your time on and there are certain things that you should spend time and money on. (22:52)
Why is insurance a very competitive industry? (26:54)
What is Chris’ biggest obstacle when he engages with agencies that he runs into? (28:24)
Chris Langille talks about how they started doing search ads for trucking. (38:08)
Chris Langille shares that they are on the process of buying data from google. (42:25)
What would be Chris Langille’s advice to somebody who wants to revamp their marketing efforts? (54:28)
Tweetable Quotes:
“Don't think about the cost as an expense. think about it as,’If I can outspend my competitors, I'm gonna win.’” – Chris Langille
“You got to have the right mindset with it. You can't put your website in the marketing expense column anymore. It's the cost of doing business, it’s like your electric bill.” – Chris Langille
“We have to educate the person first and then they become a client and that's sort of always been our approach.” – Chris Langille
Resources Mentioned:
LinkedIn- David Carothers
LinkedIn- Kyle Houck
LinkedIn- Chris Langille
Advisor Evolved
Local Traffic Marketing
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about driver selection criteria and how important it is. They also discuss how being a bit more forceful with clients can help them to understand that you want what is right for them.
Episode Highlights:
David shares that it is sometimes okay to be more forceful with your clients because it can help them to understand that you are only willing to provide the best. (1:52)
Kyle explains that there are people that are stuck in the perspective of being at low risk, and the means of having insurance is not important. (4:42)
David shares why companies need to have a formal safety program in place. (8:11)
David talks about himself being a hall pass monitor when it comes to interstate driving for his clients. (11:22)
Kyle mentions that it's hard to get contractors to do the things that you need them to if they don't feel like it has any impact on them. (13:05)
Kyle explains that it may be more effective to use the incentive method to keep drivers on track. (14:21)
David shares that it is also important to have a defined keyword, progressive disciplinary policy. (15:00)
Tweetable Quotes:
"One of the things that I didn't bring up is that sometimes you've got to be a little bit more forceful with your client. Sometimes you want what's right for them more than they want what's right for them because they just don't get it." - David Carothers
"If people aren't following your program and the stuff that you've put in place, I think that it's better to use the incentive method to get them on track." - Kyle Houck
Resources Mentioned:
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Gabriel Oh, Principal at Western Pacific Insurance Group. Gabe talks about how he got into the business of insurance, his passion to support small local businesses, and shares his advice on how business owners can start doing something for their communities.
Episode Highlights:
How did Gabe Oh get into the insurance industry? (6:00)
What was Gabe’s deciding factor in doing insurance? (7:47)
Gabe never did this for the money, it wasn't a money play. (10:44)
For Gabe Oh, it’s always about what you can do best for the client (11:07)
Gabe just changed his time, from seven to seven (14:15)
Gabe loves what he does for the community and industry. (14:47)
How did Gabe Oh get the idea of doing the walk video with local people? (15:09)
Gabe shares how he tries to support local businesses. (22:31)
How easy has it been for Gabe Oh to adapt to everything that's going on right now? (25:47)
This is an awful time for a lot of people but there's going to be good that comes out of this (29:05)
How did Gabe Oh prepare himself for the new normal? (29:51)
Gabe Oh gave his advice to business starters. (46:19)
Tweetable Quotes:
“Be genuinely kind to people. Don't be an arrogant punk, you don't know what they're going through.”- Gabe Oh
“We operate here based on what the right thing to do is for this community because this community has given so much back to our agency” - Gabe Oh
“I started this from scratch. I didn't get a loan from my dad. I grinded to get this thing up and running and I think that kind of holds me down a little bit and keeps me humble” - Gabe Oh
“When I go to hire people, we hire people that have good values and morals and that's kind of helped us move forward” - Gabe Oh
Resources Mentioned:
David Carothers - Linkedin
Kyle Houck - Linkedin
Florida Risk Partners
Western Pacific Insurance Group
Gabriel Oh - Linkedin
In today’s throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck, interview Chris Cotton, owner of AutoFix SOS. Chris travels around between states in a mobile home with his family coaching auto shop owners to help them run their business. This podcast discusses how business coaches can get struggling businesses to make a profit, and goes into the details that auto repair shops need to succeed in the current market, such as digital inspections.
Episode Highlights:
Chris talks about how he and his family changed their life course as they started AutoFix. (2:15)
What does Chris Cotton’s daily routine look like? (5:26)
How did Chris originally get into auto repair? (8:45)
What led Chris to leave his shop and do road coaching and consulting? (16:15)
How does Chris determine who he wants to work with? (18:35)
How does Chris go about giving people advice on how to fix their business? (21:55)
Provide unemotional guiding and accountability, and focus on educating them about the things they don’t know. (22:35)
Embrace technology and make sure your social media is up to date. (22:35)
People want you to guarantee results. (26:10)
How does Chris hold people accountable for following the process? (27:20)
The process is like math, and if you follow the proven process you will get the right answer. (28:10)
When Chris is building a relationship, he tries to leave people in thought so that if they don’t follow through they will feel responsible for that. (32:25)
Chris considers experiences to be bad when people do not follow through with the plan or stop taking phone calls. (34:55)
Focus on learning from your successes as well as your mistakes. (38:50)
Chris’greatest success story, what did he learn from it, and how is he replicating it in other shops. (40:15)
How does Chris help shops navigate social media? (44:15)
Facebook is (essentially) free, take the time to make 2 posts a day, and make a video for your page. (44:45)
The future of the auto repair is in Facebook ads, as far as cost-per-click and return on investment. (45:38)
Digital inspections for cars can help bring shops up to current standards and gives people visuals for their car’s repairs without requiring any phone calls. (50:50)
Digital files also help protect your business because there is minimal risk of losing information and provides accountability. (53:55)
What percentage of shops are actually using digital inspections? (55:10)
Tweetable Quotes:
“There’s not anybody who’s really too small to work with.” -Chris Cotton
“If during the coaching process, I say something that hurts our feelings or motivates you to want to do better, that's where the real change happens.” -Chris Cotton
“As long as you’re with me I’ll be with you ‘till the end.” -Chris Cotton
“I think so many of us deal with the old cliche of failing forward and learning from your mistakes and learning from your losses and everything else that you don’t take the time to learn from things that you win at.” -David Carothers
“You are way more successful if you have a visual or if you can show somebody versus trying to paint a picture over the phone.” -Chris Cotton
Resources Mentioned:
David Carothers Linkedin
Chris Cotton LinkedIn
AutoFix SOS
AutoFix SOS: Facebook
Reach out to Chris Cotton
580-491-3519
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck address the importance of establishing driver selection criteria upfront and communicating it to your client.
Episode Highlights:
David believes that everyone searching for work in the trades right now has a bad driving record since those who don't are always employed. (4:14)
David explains that the dissatisfaction comes from the agents' failure to properly prepare their clients for what they must do on their end. (7:25)
David mentions that anyone who needs a driver selection criteria template can write him an email, and he will provide a copy. (7:45)
According to David, many persons who have poor comp claims are auto-related. (8:50)
David shares that he's dealing with customers that run background checks for a living and are innocent, but a lawyer is fishing because of one of their PEO clients. (9:51)
David explains the need for establishing driver selection criteria in advance and communicating the criteria to your client. (13:11)
Tweetable Quotes:
“Two things need to happen…You need to have the criteria established. But number two, you really should be having your clients run the MVR’s in-house, they need to be the ones doing this.” - David Carothers
“You need to have the driver selection criteria established on the front end and communicate that to your client.” - David Carothers
Resources Mentioned:
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck, interview David Lefevre, who works in the marketing department of Florida Risk Partners and Salespwr.com. David talks about how to use CRMs to ensure your salespeople have the tools they need to be successful, and the importance of knowing and being able to talk about your customers.
Episode Highlights:
You are not an insurance agency until you close a deal and you have to do policy administration. Until that point, you are a sales organization. (8:55)
The difference between a B2B sales organization and an inbound sales organization. (10:08)
David discusses his daily routine and how he breaks down his days. (10:50)
David’s backstory and how he got to where he is now. (13:45)
Using mapping to show customers and leads in a certain radius or boundary. (20:56)
There are different types of people who are good at different things, let people play to their strengths. (22:30)
What’s the biggest mistake David has seen that the sales organizations make? (24:40)
It really comes down to managing your team and having realistic expectations, so the biggest mistake is having unrealistic expectations. (24:55)
What’s one thing David Lefevre sees that successful organizations have in common? (26:00)
Giving your salespeople the support they need to be successful. (26:36)
David Lefevre’s explanation of the strategy around content. (28:50)
You can determine your future customer’s needs based on your current customer’s needs. (30:50)
Know your customer, and be able to talk about them the same way you can talk about yourself. (32:30)
What’s the biggest obstacle David dealt with in implementing automation and CRM in companies he works with? (36:17)
The idea of a CRM (Customer Relationship Management) is centralized contacts and management of information, where everything that’s being done is not lost. (38:10)
The CRM helps ensure you are giving your salespeople the tools they need to succeed. (39:55)
Install a CRM to help prevent information from leaking out. (41:55)
What is David’s advice for someone who is getting started with using a CRM? (46:00)
Stick to the basics and don’t do something that makes you segment out your clients. (46:37)
David Carothers is doubling down on evergreen content instead of coronavirus content. (49:55)
Use email as a tool to build relationships. (56:15)
David Lefevre clarifies the difference between advertising and marketing. (57:00)
Tweetable Quotes:
“The high production agencies realize that they are sales organizations.” -David Carothers
“Mapping is an essential part of all business today in the United States.” -David Lefevre
“Success breeds on success so give your salespeople winning opportunities.” -David Lefevre
“People need to think of their customer just as they do trying to talk about themselves.” -David Lefevre
“When I think of marketing, I am trying to create awareness for my company...Advertising is giving money to somebody else to get my information in front of you, regardless of when you’re ready to buy.” -David Lefevre
“I think advertising is shouting.” -David Carothers
Resources Mentioned:
David Carothers Linkedin
Florida Risk Partners
SalesPWR
Reach out to David Lefevre
(813) 857-3283
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Ciara Gravier, CIC, PWCA, CPIA, Founder, and CEO of The Bunker Insurance & Risk Management. Ciara talks about her knowledge and expertise in the insurance industry and how COVID-19 has affected her business.
Episode Highlights:
David introduces Ciara Gravier. (1:24)
Ciara shares that they started their company in January 2019. They hired their first producer in November and three telemarketers before the pandemic happened. (3:58)
Ciara mentions that she started her agency on paper about a year and a half ago, but they have been hitting it hard since January. (13:52)
Ciara thinks that the hardest part when the COVID-19 happened, was that it was the same time when they were trying to reinvent themselves. (14:48)
Ciara mentions that they have commercial experience but not in the middle market. (15:38)
Ciara thinks that the insurance industry is still very heavily male-dominated, but she surrounded herself with a lot of men that believe in her, probably more than she does. (16:52)
Ciara shares a story about a prospect that was referred to her by a good referral partner. (18:04)
Ciara mentions that the carrier appointments have been a big challenge for them, especially in South Florida. (30:14)
Ciara explains that apart from COVID-19, focusing on their content and videos has also been a challenge for them. (40:51)
Ciara shares that her father always tells her to remember the big picture and not to get caught up in the little things. (45:36)
Ciara shares her advice for the listeners, that you have to be patient with the process, find a mentor, find a skilled agent and follow them, and try to spend time with them and learn from them. (55:37)
Tweetable Quotes:
“You have to get your designation. Because having those letters behind your name is going to help you with adversity, you're going to face being young and being a woman, some people just don't take the advice seriously.” - Ciara Gravier
“I think honestly, some women might feel like they belong in the desk processing certificates. No, not at all. Any woman can do this job in the agency and run the show. It's not limited to just picking up the phone.” - Ciara Gravier
“I understand being an underwriter, the people that feed you the most and feed you the best are the ones that get your first attention. So it has been very difficult to find an underwriter that we can bond with, that responds to us quickly.” - Ciara Gravier
“I just want to be able to take care of my family, I don't need to have a million houses. I just want the flexibility, this job, and owning an agency does give you flexibility in your life.” - Ciara Gravier
“I think that I don't see myself working anywhere else but insurance, and I also think it's something I can do until I retire...I want to live a good life, a comfortable life, and take care of my family.” - Ciara Gravier
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Ciara Gravier LinkedIn
The Bunker Insurance & Risk Management
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about two more key impulse factors to help you close sales: fear of loss and a sense of urgency.
Episode Highlights:
Kyle introduces two additional impulse factors that can help you close sales: fear of loss and a sense of urgency, which he mentions go hand in hand with what they represent from the potential customer’s perspective. (1:26)
David explains that Mineral is a good tool to help prospects understand the fear of loss. (2:40)
Kyle shares that a sense of urgency is a way of letting prospects know that you are not going to take a lot of their time. (6:04)
David shares that in a cold-calling situation, an icebreaker can simply make it or break it. (8:13)
Kyle talks about having a sense of urgency for ourselves and not only for our clients. (9:47)
Kyle and David did a cold calling roleplay to give an example of how to pitch with all four key impulses. (12:50)
Tweetable Quotes:
"If you're paying for it and not giving it to people, how are you using that to generate new business?" - David Carothers
"When you're cold calling, you've got to get their attention right out of the box. You can't just go in and say, I'd like to talk to you about your insurance and risk management program." - David Carothers
“I would walk in, I would ice break, use some Jones effect and some indifference. And I would add some sense of urgency at the very end of it and say, ‘I'm just looking to introduce myself, you know, real quick to the person.’ So that real quick part, that's the sense of urgency.” Kyle Houck
Resources Mentioned:
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Micah Salas, Advisor of Risk Management & Business Insurance at Marsh & McLennan Agency. Micah talks about cold calling, getting prospects from LinkedIn and creating a content production strategy.
Episode Highlights:
Micah shares his background story, and how he got into the insurance industry. (2:53)
Micah explains that there are a lot of people with a lot of different experiences across the country that you can use as resources. (6:57)
Micah says that Marsh & McLennan Agency allows them to be entrepreneurial. (7:43)
Micah shares that they’re pushing hard to get all of their producers using Salesforce consistently to have those processes in place. (10:03)
Is there a specific market segment that Micah goes after? (10:37)
Micah says that everyone, especially in construction, buys workers’ comp because in order to get to the client’s job site you need to show a certificate. (18:13)
Micah talks about Texas Mutual's dividend program in Texas. (20:08)
Micah shares that he made contact with a large company with more than 2000 road contractor employees, a billion dollars in revenue. (28:20)
Micah talks about his ROI. (29:56)
Micah says that he regularly puts out content on his LinkedIn account. (32:49)
What is Micah’s content production strategy? (38:07)
Micah shares that he has zero interest in quoting or bidding but they have a different approach. (38:58)
Does Micah read a lot of books? (39:29)
Micah shares his starting point and how he refines that to have the highest hit ratio. (45:37)
What advice can Micah give to anyone who is starting out in the insurance industry as a producer? (59:26)
Key Quotes:
“Don't listen to fake news that cold calling is dead.” - Micah Salas
“From an insurance agency standpoint, or agent producer, I would spend 30 minutes a day to an hour connecting with people, following people, seeing what's going on and posting relevant content. But if you're expecting it to get rich on it, it's not going to happen.” - Micah Salas
“I stay pretty tight to what I know I do well, just because I know going into those meetings, I can speak with confidence and then I know we can deliver as well.” - Micah Salas
Resources Mentioned:
The Power Producer’s Podcast
LinkedIn- David Carothers
Killing Commercial Insurance
Florida Risk Partners
LinkedIn- Kyle Houck
Micah Salas
Marsh & McLennan Agency
In this episode of The Power Producers Podcast, David Carothers and co-host James Jenkins interview Dan Abrahamsen, Co-Founder of Cover Whale. Dan talks about how dedicated Cover Whale is to assisting their trucking clients and carrier partners in risk management and how Cover Whale uses data and advanced technology to enhance the safety of our roadways.
Episode Highlights:
Dan shares that he started his career in the industry on the P&C carrier side, specifically with the trucking and transportation industry, before co-founding Cover Whale. (2:27)
Dan discusses how Cover Whale utilizes an AI-powered dash camera to help coach and advocate for their insureds. (9:41)
Dan believes that Tesla's insurance program is focused on the long term and shouldn’t necessarily be written off but doesn’t offer the same value as other InsurTech solutions. (23:03)
Dan shares that their model is to provide one quote back per submission with eight different carrier partners, as of today. (28:40)
Dan explains that the first part of their process is to give clients a nearly instant indication rate, to help get the conversation started. (34:17)
Dan shares that they offer a competitive payment term from their financial partners. (41:26)
Dan talks about being more traditionally focused on agencies with a transportation portfolio to help clients with comprehensive risk management solutions. (47:27)
Dan explains that the 3 things they think trucking operators should have are liability, comp and collision, and cargo. (50:21)
Dan explains how important it is to give agents information to enable them to answer the most complex questions. (55:25)
Tweetable Quotes:
"I think most truckers, they want to hear what you can do for them, and you have a very short window to make that clear. So, our first step in the process is we will give you a fast and loose rate based on your geographic area, number of vehicles, and we will give you that indication rate right away right on the portal " - Dan Abrahamsen
"I think like with anything in life or in insurance, what starts as super complex and foreign can quickly kind of peel back to something more manageable, you can get your hands around it." - Dan Abrahamsen
"You never want to be giving off-the-cuff guidance, if you're not entirely sure yourself. I do think that the educational component, we're committed to it, we're here to kind of push some of this forward." - Dan Abrahamsen
Resources Mentioned:
Dan Abrahamsen LinkedIn
Cover Whale
David Carothers
James Jenkins
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about the Jones effect and indifference, two of the four key impulse factors that can help to close sales.
Episode Highlights:
Kyle talks about impulse factors and when and how he first learned about using this strategy to close sales. (1:49)
Kyle explains that the Jones effect is referencing somebody else that you have sold to, to give you credibility and put the customer at ease. (2:52)
David explains that using the Jones effect to show that you know or service their competition makes you useful to them and makes them want to meet with you. (7:00)
Kyle explains that indifference has to do with your body language and your tone. (8:05)
David shares that controlled intensity is one of the gifts that many people lack in any sales capacity. (11:44)
Kyle talks about how he mirrors the client as a way of preparing for the actual sales pitch. (12:41)
Tweetable Quotes:
"I think the Jones effect part of it is crucial in establishing some credibility and relaxing the prospect." - Kyle Houck
"So indifference is easy too. I'm naturally pretty indifferent. But it has to do with your body language and your tone." - Kyle Houck
“If people feel like you're useful to them to give them information about their competition, they're gonna be willing to meet with you almost every time.” David Carothers
Resources Mentioned:
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and guest co-host Ryan Deeds interviews Joe Hollier, Nifty Rewards Co-Founder. Joe explains what the Metaverse is, how we can benefit from it, and what we need to expect in the future.
Episode Highlights:
Joe shares his background story and the what led him to Nifty Rewards. (2:21)
Joe explains what the Metaverse is, and its advantages and disadvantages. (6:35)
Joe shares that what they do with Nifty is build an agent-facing community and teach agents on a unique platform. (11:07)
Joe talks about a new idea that they are currently building that will be called NFP, or Non-Fungible Promotion. (14:15)
Joe talks about how Spatial has improved and that you can create your own space. (19:29)
Joe differentiates, that Web1 is the prodigy of AOL, Web2 allows us to engage, and Web3 is the virtual experience. (21:57)
Joe explains that the problem that we are facing now is that technology is innovating too fast. (27:21)
Joe talks about the importance of having knowledge about the Metaverse and being able to imagine what can be done in terms of adaptation. (36:29)
Joe explains that the more we talk about the Metaverse and its technology, the more it will become a naturally growing conversation. (39:36)
Tweetable Quotes:
"What we're doing with nifty is building an agent-facing community, you know, what we're doing is teaching agents in a different unique kind of platform, what digital engagement looks like, what it looks like to put your brand out there in a Metaverse." - Joe Hollier
"Everything you do, everything we do in life, there's going to be this digital connection. And we're going to be living in this environment, not just looking at it on a screen. So that's really going to be what Web3 is all about." - Joe Hollier
"I think the grand dream or the grand fantasy of a Metaverse is you have all these virtual worlds that exist. And your little avatar can hop from one to the other, and engage with whatever's going on in those particular virtual worlds or ecosystems. It's not there yet, what we have right now is a bunch of individual virtual worlds." - Joe Hollier
Resources Mentioned:
Joe Hollier LinkedIn
Nifty Rewards
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Jeremy Chen of Jeremy Chen Sales. Jeremy talks about how he helps companies improve their sales strategies and performance.
Episode Highlights:
Jeremy shares his background story, and how he got to where he is in his professional career. (1:50)
Jeremy explains that when he started getting into sales, he never really had any experience in the field. (6:33)
Jeremy talks about how he got an opportunity and landed a job at a cell phone company. (22:37)
Jeremy shares that his selling secret is always pretending he knows who he is talking to. (28:17)
Jeremy explains that the biggest mistake made by producers or salespeople is their mindset. (33:33)
Jeremy shares that he learned the process and flow of cold calling by just doing it. (39:05)
Jeremy talks about his favorite sales story based on his experience being a salesperson for a vet company. (41:57)
Jeremy explains that people are unaware that they only want to hear other people tell them that they are correct instead of telling them that they are wrong. (47:45)
Jeremy shares that in the sales industry, some people just need the time to think through whatever their argument is. (50:40)
Jeremy explains that he thinks cold calling has been ongoing and active even during the COVID pandemic. (52:43)
Tweetable Quotes:
"You're asking the questions from a position of, I just want to be told that I was right the entire time, as opposed to actually, I'm doing something wrong." - Jeremy Chen
"I was going broke, I certainly wouldn't depend on digital marketing to bring me my next meal. Right, I would go out and find it." - Jeremy Chen
"Sales and appointment setting is a game of hot potato, and the more you talk, the longer your hands are going to burn. So I don't care what you say, just make it so clear to the point that you can toss that potato back in their lap." - Jeremy Chen
Resources Mentioned:
Jeremy Chen LinkedIn
Jeremy Chen Sales
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about the different impulse factors that can help you close sales.
Episode Highlights:
David talks about season two of The Protege and how interesting it has been to watch which contestants are succeeding, and it may not be the ones that were originally the front-runners. (1:36)
David explains that if you want to have insurance-related knowledge, get the CIC designation. (3:15)
Kyle and David talk about a relatable mindset that Tiger Woods has that can also be applied to sales. (8:19)
Kyle talks about the importance of confidence in sales and believing that you are supposed to be there and that you belong. (13:38)
David talks about the downfall of a sales process that is based on auditing policies rather than bringing value. (16:03)
Tweetable Quotes:
"Half the battle is believing that you're supposed to be there. They took the appointment, as you know, don't talk yourself out of it because you think you don’t belong." - Kyle Houck
"I think many times what happens is we get so caught up in needing to know every single nuance of policy language, exclusions, endorsements, how to talk technically, and all of that." - David Carothers
Resources Mentioned:
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Jim Schubert, CEO of Southern States Insurance, and Podcast Host and "Headmaster" at Agents Growth Academy. Jim talks about the qualities that make an effective producer and how he is giving back to this great industry.
Episode Highlights:
Jim shares his background story, and what led him to be part of the insurance industry. (3:12)
Jim shares a fun story about how he showed appreciation to his employees during the pandemic. (12:50)
Jim explains that the best producers in his organization and the best producers in the industry are the educators. (19:09)
Jim talks about the things that he learned and the perspective that he gained while on a recent retreat. (23:10)
Jim shares that he has made valuable connections within the last five months since he started the podcast. (30:26)
Jim explains that the best producers are the people that can tell really great stories. (33:02)
Jim talks about gratitude as one of the most important things that people don't think about often. (41:08)
Jim shares that the joy and the benefit he got out of doing his podcast is the deeper connection with other people. (45:16)
Jim shares how they came up with "Insure the Cure" and have raised over half a million dollars. (47:38)
Jim explains that when you are passionate about your goal, people naturally follow and are drawn to it. (54:21)
Tweetable Quotes:
"I was kind of in the same mindset of like, you know, I don't want to ever seem like I'm, you know, taking, I want to be able to give." - Jim Schubert
"The best producers that we have in our organization and the best producers that I've seen in our industry are the educators." - Jim Schubert
"I basically spent the last six years just getting the agency to a place where I felt like it was mine. And it was being run with the culture that I envisioned and with the people that I wanted around me." - Jim Schubert
Resources Mentioned:
Jim Schubert LinkedIn
Southern States Insurance, Inc.
Agents Growth Academy
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Joel Stevenson, CEO of Yesware. Joel talks about sales and technology and how Yesware is changing the face of technology for salespeople.
Episode Highlights:
Joel shares his background and what he does in the software for salespeople industry. (4:04)
Joel shares his experience with CRMs and the tools that led him to a software company for salespeople. (7:38)
Joel explains that their services are highly recommended for entrepreneurs, salespeople, and people from the company that is transactional. (12:30)
Joel shares some of the marketing tools and software they use. (14:17)
Joel talks about the biggest win they have heard from a client from using Yesware. (18:46)
Joel shares that most of their clients today come from tech sales, and they are currently doing business with Flywire and Monday.com. (22:30)
Joel talks about the integration that they have with Salesforce, which is currently being integrated for a better customer experience. (24:41)
Joel elaborates on the notable changes in the software industry before and compared to today when everything is easier and cheaper to get. (35:05)
Joel talks about the integration they are currently building for Yesware. (38:37)
Joel explains that not using a tool like Yesware gives you an information disadvantage over your competitors. (48:19)
Tweetable Quotes:
"The founding sort of philosophy of Yesware was like, Let's build technology, actually, for salespeople, and not for the manager." - Joel Stevenson
"It's about the conversations and the questions that you're asking people, the things that really, really matter in sales." - Joel Stevenson
"As soon as people think that they're being spoken to by a machine, or it's just automation, and there's no human behind it, you're done." - Joel Stevenson
Resources Mentioned:
Joel Stevenson LinkedIn
Yesware
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Josh Gurley. They chat about why it’s important to recognize the benefits of having a niche and how to develop one.
Episode Highlights:
Josh clarifies the difference between having a niche and having an ideal prospect. (2:36)
Josh recalls the first account they worked on and how they progressed from there. (8:10)
What advice does Josh have for those who are just starting out in a certain niche? (10:45)
Josh mentions that within the first two years of their agency’s existence, it was voted affiliate member of the year. (11:04)
Josh says that trade shows were their number one way of getting new business up until COVID. (16:58)
Josh recounts one of Andrew’s most memorable accomplishments from a few years ago. (21:35)
Tweetable Quotes:
“I’ve gotten more business off of just giving away free information to people than you could ever believe.” – Josh Gurley
“If you don’t have to reinvent the wheel every time, you don’t have to have your account managers do different things. It’s not brand new, you’re not having to figure out who the markets are.” – Josh Gurley
“If you take what we’ve done in the niche, and that’s not all that we do, right? I mean, that’s probably 30% to 40% of what we do. But if you take what has been done in the niche, and you take the business that has been written out of there, it’s well over a million dollars in five years.” – Josh Gurley
Resources Mentioned:
Josh Gurley Contact
Hunt-Miller Insurance Agcy Inc.
David Carothers LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Jonathan Rosenfeld, Personal Injury Attorney and Owner of Rosenfeld Injury Lawyers. Jonathan discusses how Rosenfeld Injury Lawyers helps their clients navigate personal injury cases.
Episode Highlights:
Jonathan talks about his background and gives a brief introduction of what his profession as a Personal Injury Attorney is all about. (3:00)
Jonathan shares that in every industry and profession, you just have to get out and be consistent in doing what you desire. (10:47)
Jonathan shares that he is shocked by the number of people reaching out to him regarding their not being able to get their checks. (17:35)
Jonathan explains that a mass tort is really any situation where there's a large group of people who've been impacted by a similar event or incident. (22:59)
Jonathan shares some scenarios where he thinks simple cases should have been resolved. (30:22)
Jonathan talks about the company needing to be responsible and go down to its insurance obligations. (35:40)
Jonathan explains that people, when pushed to their patience, wind up getting an attorney to file cases against their employers. (38:31)
Jonathan elaborates on the difference between completely manufacturing an incident and manufacturing an injury and maybe exacerbating the injury. (49:16)
Jonathan shares some sample cases that can be considered an exception to the rule. (55:02)
Tweetable Quotes:
"They're not out there to squeeze blood out of a rock, you know. They're out there to try to pay their bills and really try to get really what's reasonably entitled to under the law." - Jonathan Rosenfeld
"There's a difference between, you know, completely manufacturing an incident and manufacturing an injury and maybe exacerbating the injury." - Jonathan Rosenfeld
"If anyone's got a legal question, you know, God forbid, someone's injured, reach out, call me. If I can't help you, I can find someone who can." - Jonathan Rosenfeld
Resources Mentioned:
Jonathan Rosenfeld LinkedIn
Rosenfeld Injury Lawyers
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Colby Tunick, CEO of ReFocus AI. Colby discusses how The ReFocus AI platform is a game-changer and how they are able to help in the insurance business.
Episode Highlights:
Colby talks about his background, where he started, and how he was able to get to where he is today. (2:56)
Colby explains that ReFocus AI exists to flag the clients that are most likely to leave at the regular expiration date of their contract. (7:02)
Colby elaborates on the reasons why he decided to focus on retention instead of copying what everybody else does. (13:48)
Colby shares that they currently cater to both carriers and brokers in the small-to-middle market. (18:15)
Colby shares that what sets them apart from other competitors is that they work closely with adopters to understand their data. (24:07)
Colby explains that the older and more established agency management systems are not easy to partner with. (28:45)
Colby shares that they always think about how they can offer their service with the least amount of effort for the end-users by eliminating portals and APIs. (36:03)
Colby shares that the interesting thing about insurance is that the people who hold the data, the influence, and the ability to sell are independent agents. (41:02)
Colby explains what an API stands for and what it is for from a technological aspect. (44:55)
Colby shares a concept that deals with software called "technical debt". (48:12)
Tweetable Quotes:
"I think it just goes to show that when you have innovation and you're growing quickly, what they're looking for is how they can reduce the number of systems they're using." - Colby Tunick
"The interesting thing for us is that we actually work with just as many mutual carriers as we do independent agents." - Colby Tunick
"If we can make our team more efficient by recapturing an hour or two right now, we're setting ourselves up to nail it when the market becomes a lot more competitive, and we know everyone's going to be struggling with retention, that's where we want to be." - Colby Tunick
Resources Mentioned:
Colby Tunick LinkedIn
ReFocus AI
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Josh Gurley. They discuss how to drive wedges and how to get along symbiotically with payroll companies.
Episode Highlights:
David mentions that payroll companies are a huge source of income in their agency. (1:45)
Kyle shares what he sees on policies that are done through payroll companies. (3:34)
Josh shares that he thinks payroll companies don’t pay attention to credit because they’re not in the business of workers’ compensation. (11:04)
David mentions that how you work with payroll companies is important because they can be a very good referral source. (19:05)
David explains why payroll companies are not competing for workers’ comp (20:48)
Kyle shares that there have been a number of times in the past where he worked with payroll reps that referred a decent amount of business. (22:45)
Josh shares that they hired a VA at their office for personal lines, and how it is working out. (27:22)
David mentions that there will be a big announcement in the next episode. (29:27)
Tweetable Quotes:
“The thing is, every carrier, they have that one special tier, that secret thing that they don't tell anybody about, that they pull out every now and again...and so whenever they tell you, ‘hey, we're at our best deal’, usually, they have that kind of one extra gear that they can put the account into” - Josh Gurley
“We have a responsibility to our clients, that is undeniable. But we also have a responsibility to our carriers. I mean, we're responsible for bringing them good risk, we're responsible for hitting our loss ratios with them, and also our production goals.” - David Carothers
“If you have a clean account, and they have 0% credit, and the carriers file for 40%, then the question is why are you not getting any credit? And you could be getting up to 40%. But I think a lot of times, that's what you get with the payroll companies is they don't know” - Josh Gurley
Resources Mentioned:
Josh Gurley Contact
Hunt-Miller Insurance Agcy Inc.
David Carothers LinkedIn
Florida Risk Partners
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Stuart Leo Founder & CEO of Waymaker.io. Stuart discusses the importance of software in the industry, and the key points in our history that can be used as a tool in today's software and strategic process.
Episode Highlights:
Stuart shares his background story and what Waymaker.io is all about. (2:07)
Stuart explains how they were able to build up the company from the concept of military strategy. (4:49)
Stuart talks about how small-to-medium-sized enterprises would benefit from the system. (12:08)
Stuart explains three common problems that every organization will go through, starting with companies spinning their wheels. (14:01)
Stuart elaborates on why people need software and the seven questions that they have on their website. (17:42)
Stuart shares that the biggest challenge that he has encountered was the challenge of people learning new skills. (22:12)
Stuart explains that their goal as a company is to be the Siri and the Alexa of your business. (28:17)
Stuart shares some lessons from US history that can be turned into a great software and strategy process. (30:05)
Stuart explains that coaches and consultants love them because they get a methodology they can take to their clients. (36:58)
Stuart talks about their company's pricing for partners and business users and their inclusions. (40:21)
Tweetable Quotes:
"Everybody thinks that I've got to hustle. Actually, no, you've got to focus. You've actually got to do one or two or three things remarkably well, and then you gotta let go of everything else. " - Stuart Leo
"Look at the percentage of time you spend working out how to win, and the percentage of time you spend trying to win, and if you just rebalance that one thing alone, you will achieve massive transformation." - Stuart Leo
I think there are some lessons to learn from history, that we're going to turn into some cool software and some cool strategy processes, put them in our playbooks, and get them back out there and flip and win the game." - Stuart Leo
Resources Mentioned:
Stuart Leo LinkedIn
Waymaker.io
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and guest host Ryan Hanley interview Jamie Peers, VP of Sales and Alliances at Synatic. Jamie discusses how Synatic provides a full integration solution that delivers value at a fast speed, and also how Synatic minimizes data integration, automation, and analytics time and cost by up to 80% by combining simple tools with enterprise-grade functionality.
Episode Highlights:
Jamie shares his background story and explains what Synetic is all about.
Jamie explains that the "Miller Lite" is a machine that can learn to decide on data. (7:00)
Jamie explains that an API is a way for people to programmatically interact with the system and get data in and out. (9:36)
Jamie provides a few examples of the solutions that Synatic has delivered. (18:21)
Jamie shares that "Ivan's" has a huge amount of critical mass and it is a big challenge to compete with them. (27:53)
Jamie explains that creating new AMS and EMS platforms is possible, but there is the same issue of having another data point. (32:33)
Jamie shares that what they are doing is to show the market that data and integrations do not need to be expensive. (39:59)
Jamies shares that the industry is running behind other industries, just from a data maturity point of view. (46:30)
Jamie shares why it is difficult to deal with and get data out of claims. (55:23)
Tweetable Quotes:
"We need to make systems work together better, and it's plausible, so let's go and do it. And it's why we're focusing on the insurance industry because we see that momentum change." - Jamie Peers
"So, we take an API that speaks English and make it speak to another API that speaks French, and that is effectively what Synatic does. An API is a way for people to programmatically interact with the system and get data in and out." - Jamie Peers
"My opinion on Ivan's is that they've got a huge amount of critical mass. And that is very telling. So to even conceptualize competing with Ivan's is just such a monstrous thing." - Jamie Peers
Resources Mentioned:
Jamie Peers LinkedIn
Synatic
David Carothers
Ryan Hanley
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Josh Gurley. They discuss the five-tool player to utilize in the market space.
Episode Highlights:
David mentions why some people hate the audit. (3:37)
David explains why he attends every single audit of his clients. (4:11)
Josh shares why the audit is one of the best wedges out there. (5:54)
David mentions that he wrote an e-book on how to prepare for an audit. (7:47)
Josh gives a one-liner about setting up property insurance. (9:45)
Josh mentions one of the things they talk about when somebody has a blanket property policy. (10:07)
Josh shares one of the things he learned early on in his career that has been significant. (12:11)
Josh mentions the specific question to ask when talking about property. (16:25)
Tweetable Quotes:
“There are so many different things that you can help with at the time of the audit. I don't think that marketing automation drip for the “bee's knees” and “end all be all” but it is certainly their support for the ground troops.” - Josh Gurley
“You're going through a minefield and if you step on a mine which is a claim, do you want the insurance company to show up with a pen and a check, or do you want them to show up with a forensic accountant? That's really the crux of the issue when it comes to property insurance.” - Josh Gurley
“I think with property you can really just drive that wedge by saying, what would you expect to happen versus what is actually going to happen.” - Josh Gurley
Resources Mentioned:
Josh Gurley Email
Hunt-Miller Insurance Agcy Inc.
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Michael McCormick and Taylor Dobbie, of Insurance Soup to discuss their Career Insurance Agent program which helps agents build their own independent agencies.
Episode Highlights:
Taylor and Michael share the background story of Insurance Soup and how it all started with the idea of an agent community. (2:57)
Taylor explains that Career Insurance Agents help agents open independent insurance agencies. (12:54)
Michael talks about how great Taylor is at being able to help agents understand and identify challenges and situations when opening an independent agency. (15:05)
Taylor shares that the most common theme that they run into is a production and product line. (21:59)
Taylor explains that being busy and being productive are two totally different things. (30:49)
Taylor talks about their digital learning center, which is now called Collective Agency Council. (34:10)
Michael discusses the reasons why they changed the name of their digital learning center from Career Agent Concepts to Collective Agency Council. (38:44)
Taylor explains that a common roadblock that they see from agents is their ego, and it stops them from continuing to evolve. (46:35)
Michael elaborates that the way to get to the next level is to constantly and consistently learn. (47:54)
Taylor and Michael share that they have finally been able to set up a conference this coming May 5th and 6th. (50:37)
Michael shares that the reason they decided to have a bigger conference is to have a huge focus on keeping everyone together. (57:59)
Tweetable Quotes:
Losses are lessons. And if they're not, then they're really losses. Acknowledging and understanding that is obviously huge." - Michael McCormick
"A big part of the reason that we're in, you know, these positions is because of the fact that we are constantly, always learning." - Michael McCormick
"When you surround yourself with people that are looking to grow and have the same mindset, what you take away from those conversations and those relationships that you build while you're there is worth the price of admission. - Taylor Dobbie
Resources Mentioned:
Taylor Dobbie LinkedIn
Michael McCormick LinkedIn
Insurance Soup
Career Insurance Agent
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Crystal Fox, Director of the Beauty Queen Insurance Program at The Smith Sawyer Smith Agency. Crystal talks about how she came up with the idea to create the Beauty Queen Insurance Program and where she sees it headed.
Episode Highlights:
Crystal shares her background, how she started, and how she ended up where she is today. (5:07)
Crystal elaborates on how hard it was to come up with a name for the beauty insurance industry. (21:59)
Crystal shares that she makes sure that her clients fully understand what they are signing up for when she offers the insurance to them. (28:21)
Crystal explains that for the next couple of years, they are planning to have a policy in every state and create brand recognition. (31:11)
Crystal shares that marketing has been the biggest hurdle for her in her beauty insurance program. (32:22)
Crystal shares that some of her claims that might come up are for permanent makeup and microblading. (37:22)
Crystal talks about her group on LinkedIn, where she can get leads. (43:23)
Crystal shares that her focus is to be able to be in all 50 states and just keep the company growing. (44:09)
Crystal explains that she currently wants to do business as a one-woman band, and be quiet and stealthy. (47:08)
Tweetable Quotes:
"I said yes to the universe and said, I know it'll put me where I need to be when I need to be there. And I'm open to new opportunities, trying new things, I will show up." - Crystal Fox
"I don't want to say I'm proud of myself, but you know, I'll take all the wins and I don't want to get too big for my britches, but I also want to make sure that I celebrate my successes when I secure them." - Crystal Fox
"So we're in 14 states. I'd love to be in all 50 by the end of the year, but maybe it'll take a couple of years." - Crystal Fox
Resources Mentioned:
Crystal Fox LinkedIn
The Smith Sawyer Smith Agency
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Josh Gurley. They discuss what a wedge is all about and how you frame it.
Episode Highlights:
David shares one of the wedges that he always looks for about worker's comp. (5:38)
David shares one of the things he wants to make sure that they cover as they bring up different wedges that they can utilize at the point of sale. (8:42)
Josh shares his thoughts on worker's comp in Florida. (9:11)
Josh explains the difference between a net reporting of claims and a gross reporting of claims. (11:19)
David shares why you need to communicate at a sixth-grade level when talking to your prospect and clients. (15:57)
How does Josh frame his wedges? (16:44)
Josh mentions one of the things they work on with their clients. (17:18)
Kyle mentions one of the programs they utilize that’s a bit in line with the workers’ comp. (20:42)
Tweetable Quotes:
“It's all about formulating a plan around the rules that are available. So, when you have a lot of states that have the experience writing, there's a ton of stuff out there” - Josh Gurley
“You can run a report and see what your mod would have been, had those deductibles been applied. A lot of times it can make a significant impact on somebody’s premium.” - Josh Gurley
“Doing your job is kind of like getting married. Once you ask somebody to get married to you, you should already know the answer before you're going to ask. The way that I like to frame it is just when I see that I've already run it through the software.” - Josh Gurley
Resources Mentioned:
Josh Gurley Email
Hunt-Miller Insurance Agcy Inc.
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Jess Dantice, CEO & Founder of Zenjuries. Jess talks about the factors that have Zenjuries in hyper-growth mode and how the Zenjuries app makes it easier, faster and more cost effective for businesses to win at workers’ comp.
Episode Highlights:
Jess talks about the factors that pushed them into hyper-growth mode over the past two months. (5:21)
Jess explains how they figured out the missing ingredient outside of their technology. (9:06)
Jess mentions that every business agency that operates today has a bandwidth issue. (12:03)
Jess discusses how they deal with the lag time issue in workers' compensation. (22:36)
Jess mentions that they would like to assist 100 commercial insurance providers by the end of this year, but there are certain requirements. (31:17)
Jess discusses why he believes they are not for everyone or every agency. (34:08)
Jess mentions how much he appreciates the fact that they have simplified their product to an app where he can get reports as soon as they happen. (39:43)
Jess explains that if you're going to change the game, you need actual information and real-time communication with all of your carriers, which is what they provide. (50:43)
Jess highlights the most important takeaways from this episode. (51:01)
Tweetable Quotes:
“I want to know that the guy I'm betting on is going to give everything he's got and so that's kind of what happened was Zenjuries to get us here to this moment.” - Jess Dantice
“If you want to grow, you have to create capacity to service the growth you want, right? And that means you have to spend money up front. And usually a lot of it usually costs about 50 grand, just to hire a good person, that's just one person. And that creates some capacity for you to grow. Otherwise, you really can't grow.” - Jess Dantice
“We are licensed mostly with carriers and providers, and we want to keep doing that. However, we've always had a heart for the agents, I'm a recovering agent, I will always want to support a certain amount of agents.” - Jess Dantice
Resources Mentioned:
Jess Dantice LinkedIn
Zenjuries
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Alan Stein Jr., a best-selling author, coach, and speaker. Alan talks about what we can learn from the mindset of athletes, the importance of having a clear vision, and why consistency is vital to success.
Episode Highlights:
Alan shares that he spent most of his career in basketball at the youth and high school levels. (3:07)
Alan explains that unseen hours are times an athlete spends intentionally when no one else is watching. (9:45)
Alan shares examples of a situation when people who did little things consistently yielded big results. (15:08)
Alan discusses how, for him, the perfect mindset means the ability to focus, not get distracted by the past, and not get anxious about the future. (19:02)
Alan shares how this perfect mindset can be applied in the insurance business. (21:55)
Alan explains that when we focus on the things we have control over, we greatly increase the chance of getting the outcomes we want. (24:15)
Alan shares that every organization, company, or individual needs to get a crystal clear vision of what success looks like to them. (29:15)
Alan shares that as a leader, the decisions we make should only be to either accept something or correct it. (42:52)
Alan explains that in any relationship, the sooner you can qualify someone as not the right fit, the better it is for both parties. (49:10)
Alan talks about his first book, titled "Raise Your Game," and his new book called "Sustain Your Game." (51:10)
Tweetable Quotes:
"The earliest coaching maxim I learned, which certainly applies to every area of life, is that little things done consistently, yield big results." - Alan Stein
We need to focus on the things we have control over. And when we do that, we greatly increase the chance of getting the outcomes we want" - Alan Stein
"If you do your due diligence, you figure out and identify the pain point that the prospective client or customer has, and you have a solution that you can customize that matches that, you greatly increase the chance of the client choosing to purchase." - Alan Stein
Resources Mentioned:
Alan Stein Jr. LinkedIn
Raise Your Game
Sustain Your Game
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, host David Carothers is joined by Josh Gurley. They discuss what are one-liners that producers utilize and the main action that PEOS does.
Episode Highlights:
Josh mentions one of the best things that happened to him through the pandemic. (3:26)
Josh shares his favorite one-liner. (4:16)
Josh shares one of David’s favorite one-liners of his. (4:55)
David shares the type of one-liners he likes to use. (5:34)
Josh shares a story from one of the largest accounts in their agency. (16:46)
David mentions the number one thing that PEOS does. (20:12)
Tweetable Quotes:
“I think everybody's got to have a good one-liner and you have to be able and willing to share it with people. People like to joke around that you don't have to be all business and serious all the time. It's good to break stuff up with a laugh.” - Josh Gurley
“One of my favorite things to say to people is, that sounds like the quote, hope and hope method to me. They go out and get a quote. They ask you if they can give you a quote and they hope that their quote is cheaper. I hope they get the business and I hope to god that the other guy did it right because all they're doing is copying and pasting what the other person did.” - Josh Gurley
“If you change this product in any way, then we need to know that you have insurance. We want to be additionally insured on your policy because we want to put some space between whatever the event happens in us.” - Josh Gurley
Resources Mentioned:
Josh Gurley Email
Hunt-Miller Insurance Agcy Inc.
David Carothers LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews Rod Khleif, Director of Lifetime CashFlow Academy. Rob shares how built passive income through multifamily real estate investment and how he helping others do the same.
Episode Highlights:
Rod shares his background story, his humble beginnings, and how he ended up where he is now. (2:54)
Rod shares a story of meeting someone who taught him the importance of mindset and psychology. (5:33)
Rod explains that you have to pick an hour when you have a lot of energy when you think about your goals in life. (09:29)
Rod discusses how you need to put a time limit on each goal that you think and plan for. (11:46)
Rod explains why your goals should be specific and measurable at all times. (14:20)
Rod explains that everything you want in life starts with a foundation of gratitude. (20:12)
Rod elaborates that it's never about the goals, but who you become to achieve those goals. (24:30)
Rod shares that they are currently running a boot camp for people that want to learn how to invest passively in multifamily real estate. (30:09)
Rod discusses what types of disposable capital people should start with to take on the real estate business. (35:10)
Rod explains that the great thing about commercial real estate is that people can build value. (37:00)
Tweetable Quotes:
“What you want to do is pick an hour when you have a lot of energy, so make sure you're well hydrated. You don't do it right after a meal and just sit down and write down everything you could ever possibly want in life." - Rod Khleif
"It's never about the goals, but you've got to have them to create that burning desire. But it's about who you become in your pursuit of those goals. Happiness doesn't come from goals, happiness comes from progress and growth." - Rod Khleif
"Everything you want in life starts from a foundation of gratitude. How you manifest this stuff, you do it through gratitude." - Rod Khleif
Resources Mentioned:
Rod Khleif LinkedIn
Lifetime CashFlow Academy
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and guest co-host Justin Sloan interview Chris Craddock, CEO of The Redux Group, and host of the Uncommon Real Estate Podcast. Chris discusses all things real estate investment, scaling your business, leadership, and everything in between.
Episode Highlights:
Chris discusses his background and how he got into the real estate market. (2:42)
Chris explains that the idea of figuring it out is important for being able to accept that the business has its ups and downs. (8:16)
Chris shares that one of the challenges the real estate industry is facing now is market inflation. (13:38)
Chris explains that the best place to put your money is in real estate if you can do home rentals and Airbnb. (16:30)
Chris discusses why you should invest your money in real estate rather than keep it in the bank. (20:37)
Chris shares that real estate is such a successful industry because they know how to find the best deals for their clients. (26:44)
Chris shares some of the books that he recommends for business owners to read if they want to work on their business and not in it. (27:49)
Chris shares what he discussed on his podcast called "Uncommon Real Estate Podcast". (35:55)
Chris discusses the types of surprise expenses he has seen in the past and how he was able to handle those surprise expenses. (38:43)
Chris shares that, as a life coach, he has helped a lot of people to be the best version of themselves. (43:41)
Tweetable Quotes:
"'I've heard Tony Robbins say just so many times, that we never fail from lack of resources. It's always a lack of resourcefulness. " - Chris Craddock
"If you want to get into investing, you either need to know how to go directly to the seller, or you need to find somebody that does know how to go directly to the seller." - Chris Craddock
"If they’ve never been burned before, then they're somebody that just hasn't been in it long enough." - Chris Craddock
Resources Mentioned:
Chris Craddock LinkedIn
The Redux Group
Uncommon Real Estate Podcast
Justin Sloan
David Carothers
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, host David Carothers is joined by Josh Gurley. They discuss commercial insurance sales and the biggest mistakes that people make in their business.
Episode Highlights:
Josh mentions the main mistake that most producers make. (2:45)
Josh shares why getting your competition fired is the most significant action that most producers fail to do. (3:29)
David mentions how he prepares for a new business meeting. (12:42)
Josh shares that if the producer talks more than the client, the producer will fail. (16:06)
Josh mentions what he would tell his clients when having a conversation with them. (16:44)
David shares why a relationship builds over time and a relationship is not built to get the business. (18:01)
David explains the reason why some people don’t confidently and immediately discuss their own company. (23:44)
Josh shares what he does to get the competition fired. (25:17)
Tweetable Quotes:
“We spend so much of our time trying to get hired. We talk about all the benefits and how great we are. We fail to do what I think is the very most important thing which is getting your competition fired.” - Josh Gurley
“I want a company that's looking to grow. Not want to hang here for a few years, and then maybe we'll push the needle. No, I want people who push the needle every day because I push the needle every day.” - David Carothers
“Don't ever present to anybody that can't make the decision. Nobody can present better than you can. If you're not talking to the gatekeeper and the gatekeepers get all the information, then you go present it to the gatekeeper and you don't get the deal, don't be surprised.” - Josh Gurley
Resources Mentioned:
Josh Gurley Email
Hunt-Miller Insurance Agcy Inc.
David Carothers LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Aimey Bryan owner of Bryan Insurance Agency and Agency Marketing Pro. Aimey discusses the benefits and importance of digital marketing, content creation, and having a learning mindset in business.
Episode Highlights:
Aimey shares how she got into the insurance industry. (2:38)
Aimey discusses how she began to write for both personal and commercial markets. (7:28)
Aimey mentions that they've become really good at writing for contractors. (10:15)
Aimey explains the differences between their services at their Upstate and Long Island offices. (11:24)
Aimey explains how she balances time between doing work and interacting with third parties, while also ensuring that the agency does not suffer as a result. (15:15)
Aimey discusses the differences of how she has handled her two agencies before and after COVID. (18:37)
Aimey believes that you can teach anybody insurance, but not empathy, communicating to people, or taking care of people. (26:38)
Aimey discusses the benefits of using an automated response system or a chatbot. (30:27)
Aimey gives advice to anyone wishing to become more involved in their agency's digital marketing. (42:56)
Aimey mentions that she has virtual assistants that assist her with the digital aspect of her business. (45:07)
Aimey gives advice to the younger females who aren't sure what they want to do. (47:59)
Tweetable Quotes:
“I helped agents and other small businesses kind of like realizing that there's a way that you can put your personality for your agency out there.” - Aimey Bryan
“My advice for agents if you want to do digital is to not be afraid just to jump in and try it. You're not going to mess something up.” - Aimey Bryan
“If you're constantly learning and always have a learning mentality, you're going to be fine. And you're going to grow and you're going to do what you need to do in this business and you'll be successful.” - Aimey Bryan
Resources Mentioned:
Aimey Bryan LinkedIn
Bryan Insurance Agency
Agency Marketing Pro
David Carothers
Kyle Houck
Florida Risk Partners
In this episode of The Power Producers Podcast, David Carothers and guest co-host Ciara Gravier CIC, CRM, CCIC, PWCA, CPIA interview Sarah Muniz, author of the new book, Undiscovered Voices. Sarah talks about her experiences in the insurance industry and the benefits and value of having women in any industry.
Episode Highlights:
Sarah shares that he fell in love with the insurance industry since 2001. (3:13)
Sarah explains how women, particularly those in the insurance industry, support one another (7:12)
Ciara shares some of the reasons why she got all her designations. (13:14)
Sarah explains that her book is about talent, the benefits of women, and the insurance benefits of women in leadership. (17:29)
Sarah mentions that women lack confidence in their early years because they have to show their abilities many times before they feel confident. (23:13)
Sarah believes that people must always improve both personally and professionally, in order ot keep moving forward. (34:39)
Sarah discusses how long it took her to write her own story of her experiences. (38:13)
Sarah believes that it's going to take men and women working together to make any real change. (51:20)
Tweetable Quotes:
“Women lack confidence because we have to prove that we can do something a lot of times before we feel confidence.” - Sarah Muniz
“If you're not growing, you're dying. I mean, and that goes for you know, personally and professionally you have to always grow. Otherwise, you're going backward.” - Sarah Muniz
“It's going to take men and women working together to make any real change.” - Sarah Muniz
Resources Mentioned:
Sarah Muniz LinkedIn
David Carothers
Ciara Gravier CIC, CRM, CCIC, PWCA, CPIA
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss how to prepare for a marketing drop.
Episode Highlights:
Kyle discusses how he tries not to overcomplicate things, which is one of his key points in how he prepares for a market drop. (1:55)
Kyle shares that he looks at social media for owners, CEOs, and people who are typical decision-makers. (4:33)
David explains that, for him, the key has always been to personalize the marketing drop as much as possible. (6:20)
David discusses how ProWriters can easily be used to personalize its user experience and how preparation can be done weeks in advance. (9:11)
Kyle shares that the return to work program is one of the cyber world's positive impacts on a business. (11:05)
David shares that you need to think about who your audience is, learn about your audience, and then determine what the best angle is to go in with based on that limited research that you have. (13:16)
Tweetable Quotes:
"One of the places on the website that I think sometimes gets overlooked is the "about us," or the "people." If you can find some of these websites, they have really good ones." - Kyle Houck
"I think the other thing you could do is simply compliment them on their website. Let them know you've been on it. If their website is better than average, tell them so." - David Carothers
I think that you can literally create a marketing drop around any subject, you want to create a marketing drop around, doesn't matter what it is, you know, it's just a matter of taking the time to think it through." - David Carothers
Resources Mentioned:
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Tracy Cotton, Executive Client Manager at Starr-Mathews Agency. Tracy discusses why everybody, particularly those in the insurance industry, should be flexible and open to new experiences and how she came up with the concept of trying 50 new things on her 50th birthday.
Episode Highlights:
Tracy discusses her pre-& post-Chattanooga experiences. (4:20)
Tracy discusses her favorite things to do in Chattanooga. (9:45)
Tracy explains how she was offered the opportunity to name her own position, which is Executive Client Manager. (11:17)
David, Kyle, and Tracy discuss how being honest with clients may help to solve certain situations. (22:38)
Tracy believes that personality tests are not the primary basis of the concept of a utility player. (39:31)
Tracy discusses how her paper planner helped her in coming up with the concept of trying 50 new things for her 50th birthday. (41:56)
Tracy believes that being flexible and open to new experiences is important in everything she does, including insurance. (45:18)
Tracy discusses her favorite thing she did with 50 out of 50. (48:21)
Tracy believes that the 50/50 rule helps in the process of determining what you really want to do. (51:26)
Tracy shares her intention to inspire her female insurance industry colleagues to explore new things. (51:59)
Tracy mentions that balancing between planning ahead and being open to opportunities as they arise is similar to what we do in insurance. (52:52)
Tweetable Quotes:
“I really wanted people to be able to plug-in from the get-go and really start feeling like we're part of, you know, we're part of the risk management or partner and they're their business there.” - Tracy Cotton
“A balance between planning ahead and being open to those opportunities as they come up. And that's not really any different than what it is we do in insurance.” - Tracy Cotton
“There really is no one choice in insurance. I continue to be amazed at the different ways that a career can change and the opportunity that is there.” - Tracy Cotton, CIC, CISR
Resources Mentioned:
Tracy Cotton, CIC, CISR LinkedIn
Starr-Mathews Agency
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Ellie Platt. Ellie explains how she manages and values her team, and how they show their dedication to their clients and the community they serve.
Episode Highlights:
Ellie shares her journey and how she got into the insurance industry without having any insurance background. (4:37)
Ellie discusses how her biggest challenge has been acquiring Nationwide books of business. (8:22)
Ellie mentions that bringing people into their process has always been a challenge. (18:27)
Ellie shares that the main activity in their company is account reviews, and it drives everything that they do. (20:46)
Ellie shares that the biggest lesson she has learned with acquisition is to listen to her team and identify high-priority clients. (23:04)
Ellie shares that one of her strengths is building cross-cultural relationships. (28:29)
Ellie explains that it is important to find people to work with locally, even in just a small capacity. (39:50)
Ellie shares how she handled their team culture during COVID and how she consolidated afterward. (46:36)
Ellie discusses her relationship with her son and his interest level in the insurance business. (51:20)
Tweetable Quotes:
"I'm just really identifying kinds of high premium clients, and so we are very proactive in reaching out to them." - Ellie Platt
"I think one of my strengths is building cross-cultural relationships, and so that's what I've tried to focus on more than anything, and it transfers." - Ellie Platt
"I don't even think I understood the insurance industry at all, but I just got my own business entrepreneurial bug, like, I can do this for myself, and it's unlimited. And so I did it. I mean, it was a leap of faith." - Ellie Platt
Resources Mentioned:
Ellie Platt LinkedIn
Platt Insurance Group
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about the purpose of marketing drops, why we should value everyone regardless of their position, and why having a good conversation with the gatekeeper is important.
Episode Highlights:
David mentions that he got 25 to 30 emails asking him whether he is making drops right now, as he said on the podcast. (3:31)
Kyle explains that the whole purpose of the marketing drop is to either verify the information we have on the decision-maker or to determine who the right person is. (5:28)
Kyle discusses the principle of marketing drops. (6:55)
Kyle believes that having a good conversation with the gatekeeper is the first step, which is frequently missed. (9:12)
David mentions that he values everyone, regardless of who he is talking with. (11:21)
David believes that they should do another episode on prepping for the drop, and what happens after the marketing drop. (13:50)
David and Kyle talk about what to look for while doing marketing drops or having a conversation with a gatekeeper in their office. (14:13)
Tweetable Quotes:
“The first thing that may often be overlooked is having a good conversation with the gatekeeper. Because the gatekeeper is literally the person between you and the decision-maker” - Kyle Houck
“I don't talk any differently to the person that's the receptionist than I do to the person who's going to end up making a decision to buy from me, I'm the same regardless of who I'm interacting with.” - David Carothers
“If you're paying attention to some things that they've got in their office, whether it's just something cool that you see or something that you actually can relate with them on. I think that's huge.” - Kyle Houck
Resources Mentioned:
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and guest co-host Jason Cass, interview Dr. Billy Williams, CEO of Williams Family Investment Group and President of Inspire a Nation Business Mentoring. They talk about the four types of discipline, the five levels of leadership, and how investment allows you to accomplish more of what you want.
Episode Highlights:
Billy discusses why agents must understand the four types of discipline: self-discipline, accountability, automation and technology, and outsourcing or delegation. (4:45)
Billy explains how he goes about recruiting a new workforce. (12:36)
Billy explains how VAs can support the renewal process. (20:36)
Billy discusses S.T.T.T.T.S. (Standards, Time, Task, Tools, Training, and Spot checking), and why it is important for every organization. (34:37)
Billy believes that people need to have a budget for their time. (41:55)
Billy shares that his time is the most valuable resource he has. (44:23)
Billy talks about the five factors that generate revenue in the insurance industry. (45:00)
Billy discusses the five levels of leadership and how they benefit agencies and owners. (49:14)
Billy explains that by ensuring that your team is progressing through their levels of leadership, you will be able to do what you want. (47:51)
Billy suggests hiring a Virtual Assistant if you are starting a small business. (58:16)
Tweetable Quotes:
“My time is the most valuable resource I have.” - Dr. Billy Williams
“Your business should either be your passion or fund your passion.” - Dr. Billy Williams
“Every time we talk, I want to leave you with something that is a value, and not just fluff. And I want it to be something you can walk away and do not just something to walk away and no, but something you can walk away and do.” - Dr. Billy Williams
Resources Mentioned:
Dr. Billy Williams LinkedIn
Williams Family Investment Group
Inspire a Nation Business Mentoring
David Carothers
Jason Cass
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers with co-host Kyle Houck and guest host Ryan Deeds interview Jeff Teschke, Founder & CEO of Forge3 to talk all the value of maximizing your agency’s website.
Episode Highlights:
Jeff shares about his early life, the school he attended, and what led him to create the insurance agency website platform, Forge3. (4:56)
Jeff elaborates on what agencies might not know about their websites from a technological perspective. (10:15)
Jeff shares that opportunity pages and about us pages are some of the most important pages on the agency's website. (19:32)
Jeff explains that on the about page, agencies should show the human element as much as they can. (21:26)
Jeff explains that agencies that care about the value of the insurance and being well protected are an awesome fit for them. (27:08)
Jeff offers some tips on how to tell if a website was built the right way. (29:03)
Jeff discusses some of the downsides to customizing sites from scratch. (34:06)
Jeff on how websites can help you build pre-relationships with potential clients. (48:34)
Jeff explains that if you have a database on the website that can answer questions, it can be a great benefit to the agency in terms of web ranking in the long run. (54:25)
Tweetable Quotes:
"You show that you're the expert, and you're the thought leader in this content. And I think that gets past insecurities of being too small for whatever people are looking for." - Jeff Teschke
"In the insurance industry, there's still a massive opportunity to be very different and to really breakthrough by just doing a little bit more than the other guys down the street.” - Jeff Teschke
"I think if you just do things where you can answer questions that clients have and then create that database on the website, our team can start using that content even just to share it with clients or producers can share it manually with prospects." - Jeff Teschke
Resources Mentioned:
Jeff Teschke LinkedIn
Forge3
Ryan Deeds LinkedIn
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews Chris Greene, The Flood Insurance Guru. Chris discusses the Flood Education Center's mission and highlights the importance of customer/client feedback and the key elements to consider while developing content.
Episode Highlights:
Chris discusses why he chose to launch the Flood Education Center on the 10th anniversary of his mother's passing. (3:00)
Chris mentions that the Flood Education Center has been in the works for four years before he launched it. (5:11)
Chris explains how he determines the appropriate video duration and how much he can provide to someone before it becomes too much? (11:16)
When developing content, Chris explains why it is critical to focus on what our consumers do. (15:07)
Chris explains what a universal customer experience is and why it is important to them. (20:46)
Chris mentions having the Learning Center on HubSpot with all of the data in there, makes it really easy. (23:14)
Chris explains why HubSpot Academy is amazing. (29:23)
Chris explains why all of their videos are between two and two and a half minutes long. (34:20)
Chris discusses how dedicated they are to ensuring that the Learning Center fulfills its purpose. (36:11)
Tweetable Quotes:
“When people give you feedback, don't get an ego and say, you know, whatever, or, you know, I'm better than that, really listen to it, so that you can continue to improve it.” - Chris Greene
“We do some content that we personally want to do, yes. But we really try to focus on what our customers want.” - Chris Greene
“If you can't find what you're looking for, if it doesn't have it, make sure to fill out a contact us form in the notes put, ‘Hey, I'm looking for this if your learner center doesn't have this’, and we will go and actually create that content, just for you.” - Chris Greene
Resources Mentioned:
Chris Greene LinkedIn
The Flood Insurance Guru
HubSpot
David Carothers
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Cassidy Arbeli, Business Strategist and Consultant and CEO of The Arbeli Group. Cassidy shares her journey to becoming an independent agent and offers advice to other women in the insurance industry.
Episode Highlights:
Cassidy gives us her background story and her path from captive to independent. (3:06)
Cassidy shares her perspective on being a female in the insurance industry. (12:52)
Cassidy discusses what she has learned from putting herself out there and collaborating with others in the industry. (18:11)
Cassidy talks about what is happening at her agency. (21:50)
Cassidy shared some of the things she learned from her experience being a captive agent. (23:22)
Cassidy shares why she started her podcast and how it is going today. (28:52)
Cassidy explains how she handles situations that she finds uncomfortable. (32:20)
Cassidy shares her biggest takeaway from Innovation this year. (34:12)
Cassidy mentions that her business now has contacts in all of the hotel malls in their target area. (36:36)
Tweetable Quotes:
"I also think that there are people who are natural-born leaders, there are people that are going to be more comfortable being in uncomfortable situations." - Cassidy Arbeli
"Sometimes you have to build your own table if you don't feel like you have the invite to the table or you feel like there isn't a table for you." - Cassidy Arbeli
"I urge anyone who is listening, just don't be afraid use your voice. If there's something you want to say, there are ways to say things in a way that invite other people onto your journey and they want to be part of what you're doing." - Cassidy Arbeli
Resources Mentioned:
Cassidy Arbeli LinkedIn
Unburden Your Business
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview John Yarbrough Carrier and MGA/MGU Solutions Specialist at Appulate. John talks about the impact of being transparent with your clients and how their company helps agents with their services.
Episode Highlights:
John shares his background, how he started, and what he does in his current role. (2:04)
John mentions that the best companies are the ones who are forward-thinking and willing to change. (6:00)
John describes how their system works when agents reach out for their services. (13:48)
John shares how they integrate with the agency management system. (17:18)
John shares how an agency can use its platform in many different ways. (25:47)
John mentions the most common questions that he has been asked about their platform. (28:57)
John shares that manual entry is still a big challenge or problem for them. (37:07)
John shares that transparency is the key to being able to let clients make better decisions. (43:45)
Tweetable Quotes:
"You've got to have a combination of both things, you've got to have experience, but you've also got to be nimble and be willing to change." - John Yarbrough
"What is really cool about competition is it normalizes what's happening. And I think that's something that we haven't seen." - John Yarbrough
"Where our technology really thrives is that online ecosystem, where agents are all interacting with their markets, on our platform." - John Yarbrough
Resources Mentioned:
John Yarbrough LinkedIn
Appulate
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about some of the difficulties they have encountered when working with construction accounts.
Episode Highlights:
Kyle shares that learning centers are the best, and for him, the library is the original learning center. (1:33)
David shares his first new favorite thing, which he finds awesome. (4:48)
David explains how he tried to explain the necessary coverages to his client. (8:37)
David and Kyle agree that contractors hate insurance, but they aren’t sure why. (11:56)
David explains that if you're getting normal renewals without the spike, you need to find out where they took coverage. (13:46)
Kyle shares his story with contractors and saw that it is centered around the subcontractors. (15:46)
David mentions what he would do if they were to be accused of something they are not. (19:33)
Kyle mentions why they do not deal with a particular sector of contractors. (20:32)
Tweetable Quotes:
"If you don't know what your carriers are saying, for homeowners, whether it's your policy or one that you're selling, you better find out whether or not that roof is going to be valued at replacement cost or diminished value." - David Carothers
Let me ask you a question. You ever been injured and go to urgent care? What are the first two questions that you're asked? Was this an auto accident? Was this a work-related injury? Your health plan is more than likely not going to pick up coverage if you willfully filed an exemption and got injured on the job.” - David Carothers
"I would say a lot of the stuff with contractors that we see is centered around the subcontractors and not reporting them." - Kyle Houck
Resources Mentioned:
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Clayton Wood, CFP®, Managing Partner at C. B. Wood Financial. Clayton shares cold calling strategies that have worked for him and discusses the current landscape of self-funding and healthcare benefits.
Episode Highlights:
Clayton shares his background, how he started in benefits, and where he is today. (2:44)
Clayton mentions the reason he switched careers and left the corporate world. (7:00)
Clayton shares his process of being able to get the numbers that he wants in terms of cold calling. (12:20)
Clayton mentions that you need to make a difference in your cold-calling, the second you're there. (18:23)
Clayton believes the reason sales, cold calling, and content marketing are tough, is that it is can be demeaning. (25:39)
Clayton shares how he opens the call, how handles it, and how he closes it, he also shares the average time he can save someone. (27:43)
Clayton mentions that people always have to critique and try to change what they're doing to make it most efficient. (32:21)
Clayton discusses the landscape of self-funding right now. (42:43)
Clayton gives three bullet points to determine that who you are speaking with is a good lead. (46:22)
Tweetable Quotes:
"I couldn't stand being able to or having to make the same money as the person on my left and the right and work 10 times harder and put in more hours and it just drove me nuts." - Clayton Wood
"I think one thing that makes sales and cold calling and content marketing so tough, is it's demeaning." - Clayton Wood
"I always tell myself, sales is a roller coaster, you know, whenever you have your darkest day is when you close the biggest business." - Clayton Wood
Resources Mentioned:
Clayton Wood LinkedIn
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Wes Becknell, Vice President of Marketing at RockLake Insurance Group. Wes answers the most queried questions in the trucking industry.
Episode Highlights:
Wes shares his background and how he found his way into the insurance and trucking business. (4:24)
Wes explains why their company is different and what they do for their clients. (12:17)
Wes shares that their company goal is to be 1% better every day. (17:47)
Wes mentions that they cater to the new ventures for their clients, but are also open to switching to the standard carrier as a backup plan. (26:52)
Wes elaborates how the MCSS system can pull a lot of information beneficial to the business and its clients. (30:24)
Wes shares that they are ready to visit agents virtually or in the office to show what they can offer. (33:41)
Wes mentions that their rater has the capability to compare three rates at one time. (42:49)
Wes expresses his excitement to be partnering up with David this summer. (44:56)
Tweetable Quotes:
"There's a book called Atomic Habits. He talked about trying to get 1% better, we try to get 1% better every day. That's our goal." - Wes Becknell
"When you educate your clients, they become a good client, but you also become that trusted resource that they understand that you know what you're doing. You are the expert in this field, and that's why they hired you." - Wes Becknell
"In a space where it takes weeks to get a quote, you can actually get your policy with us within 30 minutes." - Wes Becknell
Resources Mentioned:
Wes Becknell LinkedIn
RockLake Insurance Group, Inc.
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about how to use a financial discussion with your client or your prospect to make your point and drive the wedge.
Episode Highlights:
David shares a place where you can learn and collaborate with other agents in the Power Producers Mastermind. (1:16)
David recalls an experience with a plumbing contractor. (04:58)
David explains that if you can assume a revenue threshold, and assume a profit margin on a company, it can create opportunities for conversation. (11:27)
David shares that most high mod companies would pay for the total cost risk. (13:42)
David and Kyle share their experiences in math and calculus back in the day. (14:21)
David explains that operational discussion or working operations with your client and not focusing on the insurance is what separates you from the others. (16:17)
David shares how he was able to help a hotel business to be able to have better efficiency. (19:23)
David explains that the right clients and prospects find interested people interesting. (22:12)
Tweetable Quotes:
"If you can go in and assume a revenue threshold, and assume a profit margin on a company, that opens the door for you to have some pretty interesting conversations." - David Carothers
"In most cases, if you go into a company that's a high mod company, you're going to find that they're working three or four months a year just to pay for the total cost of risk." - David Carothers
"The right clients and prospects find interested people interesting, period. It's a proven fact if you're interested in them, they're going to be interested in you and what you're doing." - David Carothers
Resources Mentioned:
David Carothers
Kyle Houck
Power Producers Mastermind
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Randy Schwantz CEO of The Wedge Group and creator of Bignition, the simplified growth system built for independent commercial insurance agencies. Randy the purpose behind Bignition and how it is helping middle-market producers grow agencies. Episode Highlights:
Randy shares his background story and how he came up with the idea to create his new system. (3:49)
Randy explains his mindset and what made him innovate the technology that he created. (10:09)
Randy shares that his realization to think about his future was his family. (16:08)
Randy shares a chapter in his book about how difficult it is to find and hire new producers, and to have them be successful. (19:45)
Randy explains that what drives our experience drives how we see the world. (27:24)
Randy shares some of the information that they put on their database. (34:53)
Randy gives his insights about what he sees over five years for a big mission. (36:25)
Randy shares his interesting experience when they built the income database part of their system. (40:21)
Randy shares one of the principles he would like everyone to absorb which is being clear about what you want. (43:40)
Tweetable Quotes:
"It's not how much you make, it's how much you save that builds wealth." - Randy Schwantz
"There's a lot of people who are extraordinary salespeople and don't even know they're extraordinary, but they are." - Randy Schwantz
"We in the middle market need to become better marketers, but most firms are not big enough to have a marketing person. So, I feel we need to find a way to make it easier for a producer to become a better marketer." - Randy Schwantz
Resources Mentioned:
Randy Schwantz LinkedIn
The Wedge Group
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers went to Vegas for the Keystone Emerging Leaders Conference, where he got a chance to jump on a podcast with a few of the best people in the industry, including Keynote Speaker, Alan Stein Jr., Shawn Eagan - Senior Vice President at Imperial PFS, Katherine Smith, Chief Customer Officer at Strate Insurance Group, Andy Phillips, Risk Manager, Motivational Speaker, Josh Gurley of HM advisors, Stephen Sedlak, President at Workcompology, Christian DeLozier, Trusted Business Risk, and Insurance Consultant at Mike Keith Insurance.
Episode Highlights:
Alan Stein Jr. shares how the Keystone Emerging Leaders Conference for 2022 went for him and explains how he prepares for speaking engagements and how he continues to grow in his craft. (2:11)
Andy Phillips shares what made him decide to come to Vegas aside from the conference and discusses The Playbook Podcast with David. (7:56)
Shawn Egan shares his experience at the conference and discusses premium financing. (18:26)
Katherine Smith shares her insights about having more female participants in the conference. (31:40)
Katherine Smith shares how the new business and talent marketplace are right now, as well as their differences. (39:46)
Katherine Smith explains that applicants can talk a good game all day long, but you have to test their work product before you bring them on board. (50:18)
Josh Gurley shares that this Keystone Conference has made a great difference in people's careers. (54:46)
Stephen Sedlak and Josh Gurley discuss the important role that having a coach can play in your success. (59:55)
Christian DeLozier shares his biggest takeaways from the conference and how he would apply those in reality. (1:07:18)
Josh Gurley talks about delegation. (1:11:42)
Josh Gurley, Christian DeLozier, Stephen Sedlak, and David Carothers agree that there is a greener pasture in the insurance industry. (1:14:29)
Tweetable Quotes:
"It's been my experience, that in admission of not knowing something, literally saying the words I don't know, is part of being vulnerable. And I believe vulnerability is the key not only to sales, but to leadership, to parenting, you fill in the blank." - Alan Stein Jr.
"I don't have to hide behind pretending to know everything because I certainly don't. I can share the things with you that I do know and I can be very honest about the things I don't, and we can all get better from it." - Andy Phillips
"If you are looking and you do think that making a move is the best for you don't underestimate your company's ability to counter." - Katherine Smith
"The people that had the mindset that they can do it all themselves, without any help or anything, I think that's an absurd statement." - Stephen Sedlak
Resources Mentioned:
Alan Stein Jr LinkedIn
Andy Phillips LinkedIn
Katherine Smith LinkedIn
Strate Insurance Group
Shawn Eagan LinkedIn
Imperial PFS
Josh Gurley LinkedIn
HM advisors
Stephen Sedlak LinkedIn
Workcompology
Christian DeLozier LinkedIn
Mike Keith Insurance
David Carothers
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers, Todd Thams, Founder of Mod Adviser, Direct Work Comp and President of Thams Agency, and Kevin Ring of the Institute of WorkComp Professional talk all about learning to read and understand mod worksheets.
Episode Highlights:
Kevin explains that it's very easy to give a bad rap to mod worksheets because we don't understand them. (2:15)
Todd shares the first thing he would be check in a mod worksheet. (4:51)
Kevin shares the most important thing to know when getting through an injury code. (6:33)
Todd discusses that the conversations in the mod worksheet dissection don't seem to resonate if they don't have any Workers’ Comp claims. (9:35)
Kevin explains that there is a threshold that varies depending on your market area and what state you are in. (12:21)
Kevin shares the information that we need to look for on mod worksheets. (18:12)
Todd explains that we need to be professionals and do the right thing in situations even if it does not meet our best interests. (21:56)
Tweetable Quotes:
"You can't let the sweet smell of the premium overwhelm the stench of the account."- Kevin Ring
"There’s no mod worksheet that was explicitly designed for a human to read and understand it. It was really all down to the computers. But...once you kind of understand what the inputs are, It's not that hard to get your head around what's happening." Kevin Ring
"At the end of the day, doing the right thing will serve you farther in this industry than trying to make a few quick bucks the wrong way." Kevin Ring
Resources Mentioned:
Todd Thams LinkedIn
Kevin Ring LinkedIn
Mod Adviser
Direct Work Comp
Thams Agency
Institute of WorkComp Professional
David Carothers
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Dawnyel Smink, President of Canyon Lands Insurance. Dawnyel shares strategies that have contributed to her agency’s success in commercial lines, how they are building a network of agencies, and offers her perspective on how the industry has changed for women over the years.
Episode Highlights:
Dawnyel shares her backstory and what led her to the insurance industry. (2:44)
Dawnyel explains what it was like to start up the commercial division of her agency from the ground up. (6:58)
Dawnyel shares that you need to let your client talk, and if you are not sure about the answer let them know. (10:36)
Dawnyel shares that her business analogy is always related to a sports team to get clients. (15:01)
Dawnyel describes what she was seeing 20 years ago for women being part of the industry. (19:20)
Dawnyel shares her perspective of women versus men. (27:40)
Dawnyel explains the advantages and differences between a small agency and a big agency. (34:04)
Dawnyel talks about the network of agencies that she is a part of. (33:26)
Dawnyel shares her favorite golf course that she has played and has even won in 2017. (41:06)
Dawnyel shares a part of their project called Declaration of Independence and what it is about. (43:12)
Tweetable Quotes:
"I just, they want to be heard, the business owners, they want you to talk less. And honestly, I feel like we talk more trying to prove ourselves, and then we talk them out of wanting to do business with us. " - Dawnyel Smink
"I want to see us dominate and part of growing CLI in the group that we have is that we can start helping impact that change. And I can do it at a level that I feel is sustainable for me." - Dawnyel Smink
"If an agency, if I'm talking with them, and I always say, 'Is your ego in the way or is your ego out of the way, and if their egos are out of the way, I can work with them." - Dawnyel Smink
Resources Mentioned:
Dawnyel Smink LinkedIn
Canyon Lands Insurance
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and guest host Ryan Mathisen of GloveBox, interview Zach Mefferd, Co-Founder at ZipBonds. Zach explains the importance of giving your clients access to a bonding capacity and how ZipBonds is working to help agents provide that access in a simple and intuitive way.
Episode Highlights:
Zack discusses different sports events with David and Ryan. (3:47)
Zack shares his background story about what made him decide to pursue this path with ZipBonds. (10:36)
Zack explains how ZipBonds was able to bring in different carriers with the mindset of how they can help them. (16:28)
Zach shares the most important things we should remember about surety bonds. (21:09)
Zack explains what they call the zip score which is integrated into the API, to understand bonding capacity better. (26:22)
Zack shares how he exactly built the things he did as a commercial producer. (32:48)
Zack explains that there are a lot of Virtual Assistants you can hire and help you grow your business. (37:25)
Zack shares that people won't understand the stress of being an entrepreneur unless they do it. (42:16)
Zack shares that he thinks everyone in the industry is or has already been adapting to the new technology. (53:26)
Zach shares their plans and focuses on different connections for ZipBonds this year. (57:46)
Tweetable Quotes:
"If you lead with surety, or find a way to help people get access to a bonding capacity that they didn't have prior or let them at least know that they can be bonded, because a lot of them don't, that's stickier than anything else." - Zach Mefferd
"You don't have to be the most polished, your pitch doesn't have to be elaborate. You just have to put in the work and be consistent." - Zach Mefferd
"I think it's really hard to understand all the stresses of being an entrepreneur, whether it's insurance or anything else without actually doing it." - Zach Mefferd
Resources Mentioned:
Zach Mefferd LinkedIn
ZipBonds
Ryan Mathisen LinkedIn
GloveBox
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers together with Todd Thams, the Founder of Mod Adviser, Direct Work Comp and President of Thams Agency, and Kevin Ring of Institute of WorkComp Professional, discuss audits and certificates of insurance.
Episode Highlights:
Todd shares his background and experience in the audit industry. (5:22)
Kevin tells us that there is a tremendous amount of low-hanging fruit on the premium audit nowadays. (9:14)
Kevin shares the importance of having certificates of insurance in a company. (12:11)
Kevin tells us that all clients are not created equal and we have to accept that. (18:21)
Todd shares that he never finds any mistakes on his audits and NCCI worksheets. (20:49)
Todd tells us that we need to focus on what we want to become. (28:43)
Todd shares that he refers off to things he does not know and makes sure that the experts handle them. (30:14)
Tweetable Quotes:
"It's no more difficult to become a premium auditor than it is to become an agent." - Kevin Ring
"All clients are not created equal. And it's something that we deal with, and we talk a lot about in our training is that what we teach is, at the highest level of how this can be done." - Kevin Ring
"Find what you like to do. Focus on that. become the expert in that. Stay in your lane." - Todd Thams
Resources Mentioned:
Todd Thams LinkedIn
Kevin Ring LinkedIn
Mod Adviser
Direct Work Comp
Thams Agency
Institute of WorkComp Professional
David Carothers
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews Steve Williams and AJ Peterson of Workers’ Compensation Company of America. Steve and AJ talk in-depth about the complexities of Workers’ Comp claims.
Episode Highlights:
Steve shares his background story and career path in workers’ compensation. (3:04)
Steve explains the products their company offers, and their benefits. (5:04)
Steve tells us that 31 years ago, they pioneered the agency claim advocacy system. (9:00)
AJ shares how he got involved with Steve in the Workers’ Comp business. (13:11)
Steve and AJ share their ideal candidate to work with. (14:31)
AJ shares the biggest thing he learned since he has been in his role. (18:28)
AJ tells us that he is interested in working with all business owners and agent brokers. (27:07)
Steve shares the mix of what they currently do in their company. (29:56)
Steve shares all the soft costs he brings into his presentations. (37:07)
Steve explains that what they do is to eliminate indemnity costs, not decrease indemnity costs. (38:12)
Tweetable Quotes:
"Where we put our attention on is the impact that claims cost, the direct impact that claims have on premiums, and workers’ compensation is the only line of insurance where that happens." - Steve Williams
"Workers’ compensation is very complex. And because of the complexity of the workers compensation system, the potential for errors and data is really high." - Steve Williams
"I think that was the biggest thing that caught me off guard was that employers are getting beat up pretty bad when it comes to workers’ compensation costs versus somebody that that is dealing with their auto insurance, it's not nearly as bad. You can't even compare the two, to be honest." - AJ Peterson
Resources Mentioned:
Steve Williams LinkedIn
AJ Peterson LinkedIn
Workers’ Compensation Company of America
David Carothers
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Howie Zales, President of HJZ Productions. Howie talks about being a professional camera operator for network level sports and entertainment events and his recent shift into broadcast-quality live streams and remote recording productions.
Episode Highlights:
Howie shares his background as a camera operator for network level sports and entertainment events. (2:08)
Howie shares some of his experiences on the sidelines. (3:12)
Howie explains how he positions himself when taking pictures in a sports event. (9:47)
Howie explains how everything shut down in sporting and entertainment world during COVID. (13:45)
Howie shares how he does his live streaming, and how it took over network television. (18:02)
Howie shares the must-haves when starting in the live stream video industry. (25:46)
Howie tells us the common mistakes he sees in a video broadcast show. (27:52)
Howie gives advice to people that would like to start their internet channel. (29:47)
Howie shares about his books and courses that are now available. (40:44)
Howie tells us how cameras operate in live coverage of a sports game. (43:33)
Tweetable Quotes:
"Our business was unique in the sense that everything was shut down. So we had people willing to work obviously, right. But there were no sports. There was no entertainment. All the buildings in the arenas were shut down." - Howie Zales
“I live stream my podcast weekly from my house using professional software. And we have a content delivery network, or CDN where all of our shows live. And we actually create and house content for clients and direct these players to their web experience.” - Howie Zales
"The use of live stream to get content out there is totally taking over how people are getting their content out there. Because you can't rely on, you know, the social media platforms to distribute your content, because the algorithms constantly change." - Howie Zales
Resources Mentioned:
Howie Zales LinkedIn
Broadcast Sports Course
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and guest host, Todd Thams sit down with Kevin Ring. Kevin talks about the common challenges agency and business owners are facing with misclassification.
Episode Highlights:
Kevin explains that most businesses are misclassified. (3:29)
Kevin talks about the four distinct types of operations. (8:37)
Kevin tells us about the common questions he gets regarding furniture store classification codes. (12:08)
Kevin shares his view that the older generation has been better at training people compared to today's generation. (19:55)
Kevin shares a story that illustrates the importance of both agents and clients understanding how businesses are classified.. (24:05)
Kevin shares manuals that can be found in the NCCI mini library. (29:35)
Tweetable Quotes:
"I think it illustrates the importance of not only you the agent understanding how a business is classified, but also your client understanding how they are classified and how important it is." - Kevin Ring
"We all agree that we want to speak our client's language as much as possible and not spit a whole bunch of insurance words at them." - Kevin Ring
"If you have accounts in multiple states, you cannot make the mistake of assuming everything's the same everywhere, because that'll bite you for sure." - Kevin Ring
Resources Mentioned:
Kevin Ring LinkedIn
Institute of WorkComp Professional
David Carothers
Todd Thams
Florida Risk Partners
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Michael Zalle Founder & CEO at YellowBird. Michael discusses how YellowBird is helping agents help their clients with environment safety and risk management.
Episode Highlights:
Michael shares his background story and what has led him to start YellowBird. (3:39)
Michael tells us some of the challenges insurance agencies are facing in regards to EHS & OSHA. (12:25)
Michael shares the most popular thing people are using the app for right now. (15:00)
Michael explains what the user experience is like for their app. (16:46)
Michael talks about the cost for their services. (19:46)
Michael explains that the general loss area is the area that they are good at. (29:39)
Michael shares the biggest challenge their company is facing so far. (32:00)
Michael shares the most important thing that they stand for. (41:41)
Michael explains that YellowBird can be used for one or two tasks, or on an ongoing basis. (43:35)
Tweetable Quotes:
"We are here as an on demand resources. Not just for loss control assessments, but also on ongoing services in the long game." - Michael Zalle
"We have literally indexed, we built the technology around making sure that we have the right professional for the need." - Michael Zalle
"If anybody is coming across situations where they have to stretch resources, or have no resources at all, and they're like, where do I go to help my help my client, we're a pretty good place to start." - Michael Zalle
Resources Mentioned:
Michael Zalle LinkedIn
YellowBird
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck sit down with Mitch Gibson, Risk Advisor at HRM Insurance Services and host of The MVP Podcast. Mitch talks about his growth as a young agent and discusses the importance of surrounding yourself with right people.
Episode Highlights:
Mitch introduces himself and shares a bit of his background story. (17:57)
Mitch shares how an accident led him to the insurance world. (25:20)
Mitch explains that he is young, but he has matured by surrounding himself with people that make him better. (28:48)
Mitch explains that adding value to your customers will lead to great business. (37:11)
Mitch shares that he feels more confident now to handle the middle market. (48:42)
Mitch explains what he has learned from his mistakes. (52:47)
Mitch shares that there is a lot of benefits to continuous education. (59:45)
Tweetable Quotes:
"I'm becoming the person that I want to be and you know, surround myself around the people that I want to surround myself with which in return is making me a better human being.” - Mitch Gibson
"I finally just got like my life back down you know, the path that I wanted to go after everything that I've been through." - Mitch Gibson
"Take it as a learning opportunity to go through these processes and strategies and learn from the best people you know the best in the industry doing it in real-time." - Mitch Gibson
Resources Mentioned:
Mitch Gibson LinkedIn
HRM Insurance Services
The MVP Podcast
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck together with Kevin Ring discuss ownership changes and how they affect the Workers’ Compensation program for a company.
Episode Highlights:
Kevin explains that the rules he is about to discuss are National Council on Compensation Insurance (NCCI) specific. (2:52)
A flower shop is very different from an explosive shop, as Kyle points out. Why are they identical? (5:17)
Kevin discusses the most common misperception he hears about ownership changes. (17:52)
David believes that one of the most frustrating aspects for agents is the time it takes to receive information from NCCI. (20:10)
Kevin discusses the NCCI experience rating plan regulation 3-F, which is titled evasion of experience rating modification. (24:27)
David believes that it will be intriguing to see what machine learning does in this sector over the next five or six years. (28:32)
Tweetable Quotes:
“I tell people all the time, this is not a gray area. It is required by the rules that if entities share common majority ownership that they be combined. And NCCI has rules about what happens if they aren't appropriately combined.” - Kevin Ring
“If I own a flower shop, and I own a dynamite manufacturing facility, and both of those are based in NCCI states, they are going to share an experience mod. It does not matter that they're on two different policies. And it doesn't have to be just a single person. It can be, you know, a collection of people.” - Kevin Ring
“You've got a business, their experience mods are a dumpster fire. And so they ask, ‘Well, can I just start another company and move everything over there and start over with 1.0?’ And the answer is no.” - Kevin Ring
Resources Mentioned:
Kevin Ring LinkedIn
Institute of WorkComp Professional
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Patrick Zerarka, founder of EzyTise. Patrick discusses how EzyTise is making waves in the insurance industry.
Episode Highlights:
Patrick talks about his background. (2:14)
What prompted Patrick to conclude that the insurance industry needed EzyTise? (3:07)
Patrick explains how Ezytise can automate based on a prospect or consumer’s behavior. (5:39)
Patrick discusses their onboarding procedure and how it benefits their client. (7:51)
Patrick discusses who is a good fit for their product. (11:19)
Patrick explains that most clients customize their templates based on their unique selling propositions. (14:22)
Patrick believes that people will be concerned about what will happen to technology in the next five years. (18:27)
Patrick believes that brand recognition has been their most difficult challenge in competing in the market. (24:24)
Patrick explains how to secure an EzyTise demo. (25:40)
Tweetable Quotes:
“Our system is easy, but it's also intuitive. And you can really customize it. And that's where we really come in and do a really good job.” - Patrick Zerarka
“The best profile that we see success is they're comfortable with technology, they understand what technology is going to do for them. And they're willing to take it to the next level, like the Insurtech approach.” - Patrick Zerarka
“When you introduce such a technology, the easier to adopt is to just keep it simple, one step at a time and grow from there.” - Patrick Zerarka
Resources Mentioned:
Patrick Zerarka LinkedIn
EzyTise
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview EmPower HR's Brent King and Jennifer Guzman to discuss their company's mission and values. They talk about what PEO is and how their service adds value to their clients' businesses.
Episode Highlights:
Jennifer explains to listeners what a Professional Employer Organization (PEO) is. (6:00)
Brent discusses what they do at EmPower HR and how they provide value to their clients. (8:02)
Is Brent of the opinion that a PEO's mindset has altered significantly since its inception? (11:52)
Jennifer explains that they aspire to be a sincere partner and an extension of the team by creating trust and a deep honest connection with those they serve. (16:07)
Jennifer states that their target market ranges from 10 to 100 employees. (18:43)
Jennifer asks David and Kyle about their observations of P&C brokers who are hesitant to move their clients to a PEO. (28:49)
Brent believes that insurance broker agencies are hesitant to engage a PEO since they are frequently poached. (30:37)
Jennifer explains that they are searching for a partner who is similar to their target market and can see the benefit of outsourcing. (34:22)
Brent explains that it is their goal to constantly put the client in the best possible position. (38:07)
Brent and Jennifer explain that they focus on what counts, cultivate honest connections, and are relentlessly accountable for results. (43:29)
Tweetable Quotes:
“It's really becoming, especially here at EmPower HR, becoming an extension of our clients teams, or the people that we serve, to really provide a full, integrated solution as it pertains to people related needs.” Jennifer Guzman
“We really look for the value added partnerships. And much like insurance agencies, you protect them, you protect their companies and risk, we do the same thing.” - Brent King
“We're absolutely not limited to P&C shops. As an organization, we refer to ourselves as broker agnostic. So we are actually a PEO. But we do allow ASO, so we have an ASO service model as well as an HRO service model.” - Jennifer Guzman
Resources Mentioned:
Brent King LinkedIn
Jennifer Guzman LinkedIn
EmPower HR
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Kevin Ring from the Institute of WorkComp Professional. Kevin discusses Workers’ Compensation and loss runs.
Episode Highlights:
Kevin answers David’s question about why loss runs have not been standardized. (4:37)
Kevin finds that the least useful information on the loss run is often the employee's class code. (6:32)
Kevin shares that the process of getting loss runs from carriers has not changed in 25 years. (12:39)
Kevin recalls one situation where regardless of the severity of the injury the lag time for the claim was more than 30 days. (19:33)
Kevin talks about the importance of looking at injury reporting and other issues before trying to build a recovery at work program. (21:00)
Tweetable Quotes:
"If people are ditching out of work for two weeks before they even tell you that they're hurt, then you're probably not going to get the biggest bang for your buck on building a recovery at work program until you fix that injury reporting issue. So, you’ve got to find all the different things and then you can start to identify what you are going to attack first." - Kevin Ring
"If a company's loss runs don't have the information that you want or need, stop asking for a loss run, and ask them for a loss information report and tell them the specific information that you want." - Kevin Ring
Resources Mentioned:
Kevin Ring LinkedIn
Institute of WorkComp Professional
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Mike Crowley, Vice President of Crowley Insurance Agency. Mike discusses what they observed and learned during the pandemic, and how they are utilizing technology to improve the service they provide for their clients. Episode Highlights:
Mike explains how much COVID changed and impacted his company. (3:50)
Mike mentions that he has seen people change but they did not change their guidelines. (10:27)
Mike believes that flexibility is the key to catering to multi-generation clients. (15:30)
Mike shares the traits of a great independent agent. (18:52)
Mike shares how he integrates the technology into his sales team. (26:09)
Mike talks about the great benefits of having the extra two minutes mindset. (32:25)
Mike mentions the importance of building people up from the bottom rather than chasing that person at the top. (40:12)
Mike talks about his life as a parent and how he gives time and connects with his kids. (51:29)
Tweetable Quotes:
"In everything you do, if you take an extra two minutes to do anything, it has become the answer to solve probably all your problems." - Mike Crowley
"If you don't have a process for everything, it falls back on you. if you don't have somebody responsible, it falls back to you." - Mike Crowley
"Stop chasing these things, these people out there and start holding yourself, your team and your agency to that same level, building people up from the bottom not chasing the person at the top.” - Mike Crowley
Resources Mentioned:
Mike Crowley LinkedIn
Crowley Insurance Agency Inc
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Ryan Hanley. Ryan takes us back to when he first started Rogue Risk and talks to us about how he was able to overcome early challenges. Ryan also gives us updates on what Rouge Risk 2.0 is all about.
Episode Highlights:
Ryan talks about his experience in the middle market. (10:23)
Ryan explains how the Producer Accelerator Program that Rogue Risk has started. (12:37)
Ryan explains how this program leads to real ownership for Producers. (16:39)
Ryan shares what he thinks is the problem in the insurance industry. (23:05)
Ryan tells us that nowadays people have more power and the ability to shop for job opportunities using the internet. (31:29)
Ryan shares some of the technological advancements they are planning to do for the business. (39:40)
Ryan tells us that the future of the industry is one system, but no one's been able to do it. (47:32)
Ryan shares some of the things David mentioned to him that positively impacted him. (52:27)
Ryan explains that he has never been focused and mentally cleared until the start of Agency Nation. (56:05)
Tweetable Quotes:
"You just treat your people well, you just be known as a company that treats people well. And you will get the best and the brightest." - Ryan Hanley
"Today, there's so much access to information, there's so much connectivity, that what, for better or for worse, the non-owner class of worker now has a little more power, and they have the ability to shop a little bit for their job." - Ryan Hanley
"Be a monster, be an absolute monster, and then learn how to control it. Yeah, absolutely. And when you think about that, what it gives you is the ability to be the best version of yourself." - Ryan Hanley
Resources Mentioned:
Ryan Hanley LinkedIn
Rouge Risk
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Kevin Ring, COO & Lead Workers’ Compensation Analyst at the Institute of WorkComp Professionals. Kevin shares how the Institute of WorkComp Professionals helps to train, certify, and mentor independent agents in a Workers’ Comp process that helps them write more business and get better results for their clients.
Episode Highlights:
Kevin shares that he is the Lead worker's comp analyst with the Institute of WorkComp Professionals. (2:50)
Kevin mentions that the firm was founded in October of 2001. (3:21)
Kevin believes that mentorship is what differentiates what they do. (3:40)
Kevin explains that he began retaining all of the mod worksheets that he evaluated ten years ago. (8:36)
Kevin mentions that Workers' Compensation is the second-largest check they make for insurance, behind health insurance. (10:55)
Kevin believes that if a company has the right strategy, methods, and an agent to support them, it can dominate a large portion of the market. (11:55)
Kevin thinks that the first thing we were all taught about selling was that the potential client must understand what's in it for them. (18:08)
Kevin explains that lowering their payments provides them with more income to perform what they do. (19:39)
Kevin thinks that the output of a piece of software may equip them with any level of knowledge. (23:43)
Kevin agrees that it is necessary to have an employer who is willing to execute the job. (16:01)
Tweetable Quotes:
“Every single time you have an injury or every year in your program, it's not that everything's gonna go perfectly, but when it doesn't, you can generally identify why it doesn't go well.” - Kevin Ring
“It's a problem that we have, that people have allowed themselves, either intentionally or unintentionally, to believe that the output of a piece of software provides them any degree of expertise,” - Kevin Ring
“There's just so many opportunities for them to reduce what they're paying, which ultimately gives them more capital to do what it is they're in the business of doing rather than just giving the insurance company more money.” - Kevin Ring
Resources Mentioned:
Kevin Ring LinkedIn
Institute of WorkComp Professionals
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Brandon Bateman, founder of Bateman Collective. Brandon talks about the digital marketing industry and how Bateman Collective is helping clients get results.
Episode Highlights:
Brandon shares his background and more about Bateman Collective. (4:48)
Brandon shares all the things that digital marketing services can provide to clients. (12:00)
Brandon talks about trust and some issues that they are facing as a digital marketing company. (21:36)
Brandon shares his thoughts about providing what is best for the customer from a digital marketing perspective. (24:54)
Brandon tells us that he is a direct response advertiser, and what that means. (28:06)
Brandon shares how they deal with Google search ads and their architecture. (33:44)
Brandon shares a high-level ninja hack for digital marketing. (40:32)
Brandon shares his thoughts on what the future of digital marketing holds. (49:03)
Brandon shares his advice to people that are starting up in digital marketing. (52:00)
Tweetable Quotes:
"Marketing that doesn't work is the most expensive marketing, marketing that works, even if it's expensive, is so much cheaper to the business, because it's an actual investment." - Brandon Bateman
"There's a lot to be said for a company that does what's best for their customers, not what their customers want" - Brandon Bateman
"I think there's a lot of merit to just surround yourself with those people that are just one step ahead of you." - Brandon Bateman
Resources Mentioned:
Brandon Bateman LinkedIn
Bateman Collective
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Darin Dawson, President & Co-Founder of BombBomb. Darrin talks about the video tools that their company offers and how they are beneficial to the new age of marketing and sales.
Episode Highlights:
Darin shares a bit of his background and how BombBomb came to be. (2:12)
Darin tells us about how video can help you scale your business. (7:33)
Darin shares the challenges and advantages of the services they offer to their customers. (13:31)
Darin explains how the numbers changed when they started using animation with their services. (20:32)
Darin explains that it is very important to believe your business and relationships matter. (28:14)
Darin gives his advice to people that are not comfortable using video. (31:26)
Darin talks about the books that they have published. (39:51)
Darin explains that automation saves time, and there are a lot more benefits to look into. (46:13)
Darin tells us that visibility trumps ability and so business owners need to increase their visibility. (48:17)
Tweetable Quotes:
"Feeling comes from humans, we get feelings from humans, we don't get feelings from paperwork." - Darin Dawson
"So visibility trumps ability, right? You can be better than them, but if they don't know about you, it just doesn't really matter." - Darin Dawson
"They see your face, they see your authenticity. All these things are human connection, things that only humans do. And so, how are you giving that to your customers? " - Darin Dawson
Resources Mentioned:
Darin Dawson LinkedIn
BombBomb
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about the different stages of the sales process.
Episode Highlights:
David shares a story about an agency that he’s working with that has a new producer. (2:44)
David mentions the purpose of having stages of the sales process. (3:38)
David shares the stages of their sales process. (6:56)
Kyle mentions one of the huge factors when it’s lost. (8:32)
David mentions what to do when the policy comes time to renew. (19:34)
Tweetable Quotes:
“ If you look at how it works, I suspect when I go in and talk to them and get them to turn into a prospect, the first meeting is the fact-finding. My only goal from that first meeting is to get them to commit, to give us information and to book the second meeting.” David Carothers
If you're going to close on that first appointment, there's something else behind the scene that you don't know everything about.” - Kyle Houck
“I just think that if people understood how easy it is to sell insurance when you're not selling insurance, everybody wouldn't be doing it.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Michael Overstreet, owner of Safe Street Insurance. Michael talks about how he uses video marketing to grow his agency, his relationships with his clients, and how he is slowly branching out into commercial lines.
Episode Highlights:
Michael shares the story of how he got into the insurance industry. (3:12)
Michael says that he started an independent agency for personal lines, and he’s now doing commercial lines. (3:34)
Michael says he’s planning to get a drone soon. (12:43)
Michael shares that the video came in when he got into a point where he couldn’t grow at the scale he desired. (17:57)
Where does Michael get his referrals from? (18:09)
Michael gives the best service by responding quickly and genuinely cares for his clients. (19:05)
How much paid advertising does Michael do? (22:44)
Michael says that the video can establish you as the authority, and people will try you right away. (27:26)
Michael explains how determined what was driving his website traffic (28:40)
Michael shares how he’s using the video to branch out into commercial lines. (35:57)
Michael explains why he has to be kind on his video content. (37:27)
Michael explains how tropical plants can grow in Arizona. (41:36)
Michael says that he’s been using EZLynx from the beginning. (48:54)
Michael explains why he chooses to use Openly as a carrier. (57:02)
Michael shares what they’ve realized with the YouTube training they had. (59:51)
Michael says he loves Better Agency because they’re willing to listen to agents, make changes, and adjust accordingly. (1:01:05)
What has been Michael’s biggest success using the Better agency? (1:01:05)
Tweetable Quotes:
“My main source of referrals and what I prefer, are my existing clients.” - Michael Overstreet
“I just give the best possible service I can by responding quickly and genuinely caring about my clients.” - Michael Overstreet
“Every agent is looking for that secret sauce.” - Michael Overstreet
Resources Mentioned:
The Power Producer’s Podcast
David Carothers LinkedIn
Killing Commercial Insurance
Florida Risk Partners
Kyle Houck LinkedIn
Michael Overstreet LinkedIn
Safe Street Insurance
The Garden Nerd YouTube Channel
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Jason Denniston, Medicare specialist, Life and Health Insurance Agent, and Owner of Denniston Insurance. From being a pastor to an insurance agent, Jason talks about how he got into the insurance business and the principles that contributed to the success of building his agency. Episode Highlights:
David introduces Jason Denniston. (1:24)
What is Jason’s backstory that influenced him to start an agency? (2:23)
Jason shares that he spent 18 years in full-time pastoral ministry. (3:02)
What was Jason’s main goal when he was in the church? (5:50)
Jason shares that he had the privilege to be the pastor of ministerial development. (6:51)
David thinks that most people don't understand how to appreciate their true potential because they don't take enough initiative to develop themselves. (19:21)
In Jason’s opinion, it takes five principles or five skills to start an insurance agency. (25:13)
Jason shares why his transition to insurance was weird. (27:02)
David mentions that sales, marketing, and product knowledge are highly significant. (35:37)
Jason explains the value of regulation and its process. (38:06)
Does Jason deal with hacks? (40:54)
Jason’s priority is to be the most outstanding Medicare advisor that he can be. (43:39)
David says that agents are probably among the most vulnerable group of people to shiny object syndrome. (44:09)
What do David and Jason do as an insurance agent? (45:06)
Jason explains what The Indie Barbecue group is all about. (44:47)
Jason shares what he’s very fortunate about in his career. (51:09)
What are the states that Jason is licensed in? (53:36)
Jason tells a funny story about obtaining some of those states. (53:48)
Jason shares that he’s currently building an educational training platform for senior citizens. (56:19)
Tweetable Quotes:
“I realized that the thing I do best is to help other people be better. My gift is helping teams do better and helping other people do what they do better.” - Jason Denniston
“Seeing the best in people and understanding that everybody has something...Everybody has a gift and a skill to give.” - Jason Denniston
“Everybody wants to be successful, everybody wants to know that what they're doing matters, and that they're really fulfilling what I would consider their purpose in life.” - Jason Denniston
Resources Mentioned :
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
Jason Denniston
Denniston Insurance
Medicare
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by David Lefevre, Owner of SalesPWR. They discuss how to utilize your CRM for service functions in the agency.
Episode Highlights:
David Lefevre mentions that HubSpot comes with a generic CRM. (1:40)
David Carothers mentions what he likes about the way the service piece is done. (3:12)
David Lefevre shares some of the ways to utilize CRM from a service aspect. (6:51)
David Lefevre mentions why it’s significant to have a certificate of insurance. (7:32)
David Lefevre shares how to utilize chatbots. (9:30)
Tweetable Quotes:
“We want to drive client experience. We want people to realize that we do business differently.” - David Carothers
“You just got to think it through completely before you make that switch. If you think it through and it makes sense to do it, act on the endeavor to persevere and make it happen.” - David Lefevre
“I'm more than willing to spend a few minutes just throwing out ideas and sharing what I think might be a good route to go.” - David Lefevre
Resources Mentioned:
David Lefevre LinkedIn
SalesPWR
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Todd Thams, Founder of Direct Work Comp and President at Thams Agency. Todd talks about the significance of the workers’ compensation and the benefits of applying technology as a tool in reshaping operations.
Episode Highlights:
David introduces Todd Thams. (1:30)
David says that Todd’s barbeque and products are legendary. (5:21)
Todd shares his background in the insurance business. (6:12)
Todd mentions that he’s the third-generation owner of their insurance agency. (7:41)
Todd states that the fast-food industry is entirely overlooked. (8:41)
How did Todd manage the agency professionally during COVID? (12:20)
Todd explains why the packers and processors are making money right now. (13:36)
How did Todd decide to pick workers’ comp as a new business? (15:32)
Todd talks about the account that they picked up last year and his meeting with the CEO. (20:08)
Todd says that most underwriters are charged with growing their book of business every year. (29:24)
Todd says that you have to take care of the people you have to take care of the clients. (29:54)
David talks about a phone call from someone that posted in IAOA. (31:38)
David explains the difference between the retail and insurance industries. (39:24)
What has Todd done to try and generate new business revenue in his downtime? (41:12)
Todd thinks that COVID is going to be the great separator for insurance agents. (52:16)
Todd talks about automation technology. (58:52)
Todd says that he loves the education David brings to the industry. (1:02:50)
Tweetable Quotes:
If we're gonna market you, we're gonna take you on as a new client, we're going to go to market for you the first year. And outside of that, we don't intend to remarket you every year, maybe three or five. But we're going to keep you with the exact same carrier not only to build loyalty but to build longetivity” Todd Thams
“I liked workers’ compensation, where I could help people just simply reduce costs.” - Todd Thams
“Life is too short to work with people you don't want to work with.” - Todd Thams
Resources Mentioned :
The Power Producer’s Podcast
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
Todd Thams LinkedIn
Thams Agency
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Walt Goshert, Insurance LinkedIn Expert and Independent Marketing Consultant. Walt discusses the value of understanding workers’ compensation and the benefits of using LinkedIn as a platform for building strategic relationships.
Episode Highlights:
David introduces Walt Goshert. (1:25)
Walt shares his background in the insurance business. (2:31)
Walt says that he finds the insurance somewhat easy to understand, but at the same time boring as well. (4:45)
Walt likes to create a process of making a person trust you to be their advisor. (4:57)
Walt says that insurance has developed into a higher marketing type of discipline. (5:22)
What are we doing in our interactions and relationships with people to allow us to be perceived as respected, trusted advisors? (9:50)
Walt says that the producers should have the initiative to step up, initiate the relationship, and create the perception of value. (10:35)
David shares that a lot of agents are not willing to go the extra mile to invest in learning and understanding something that will make them successful in the future. (12:27)
David mentions that they view insurance as a commoditized shuffling of paperwork. (23:10)
David says the Bureau of Labor Statistics shows that indirect costs of any claim across the general industry are anywhere between two and 20 times the direct cost. (23:49)
Walt says that one of the criteria of being a great producer is you need to be curious and fascinated about businesses. (32:47)
Walt says that video communication is a neat way to do business and also time-efficient for you and the client. (48:21)
David shares that we need to change the way we think to deliver the message to people the way they wish to receive it, not how we perceive they need to hear it from us. (49:50)
What are the three tips that Walt would give to a LinkedIn newbie? (55:15)
What are the three things anybody can do to set themselves on the right course (55:23)
Tweetable Quotes:
“You can't force someone to make a change, they have to internalize making that change for their own benefit.” - Walt Goshert
“We do business with people, we don't do business with businesses.” - Walt Goshert
“You really need to plant your flag in a target market.” - Walt Goshert
“Everyone needs to have a prospecting habit and a prospecting process that you religiously follow each and every day.” - Walt Goshert
Resources Mentioned :
David Carothers LinkedIn
Kyle Huock LinkedIn
Florida Risk Partners
Walt Goshert LinkedIn
floridariskpartners.com
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by David Lefevre, Owner of SalesPWR. They discuss how any CRM begins to take action through marketing automation, workflows, and sequences.
Episode Highlights:
David Lefevre shares what marketing automation is. (5:01)
David Carothers mentions who Christian Delozier is. (6:41)
David Lefevre shares how to take advantage of the data that you have in your CRM. (8:09)
David Lefevre explains what happens if you don't have a plan or process on how to communicate. (11:16)
David Carothers mentions the most significant process in CRM. (12:25)
What are some of the easy CRM processes that people can do to implement marketing? (19:24)
Tweetable Quotes:
“If you've segmented your audience and planned how you want to communicate with the people in your database, whether they're clients, prospects, leads, whether they filled out a form or not, whether they live in Cincinnati, or they live in Tampa, Florida, you can automate communication to say what you want, when you want.” - David Lefevre
“If you don't have a process or have a plan, you're not going to find it comfortable. You’ll use pieces here but you got to build up to it.” - David Lefevre
“Those people on the other end of your communication are able to do things in their own time, without having to have you on the phone or have you in front of them where you've got to connect in order for things to happen.” - David Lefevre
Resources Mentioned:
David Lefevre LinkedIn
SalesPWR
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Bobby Schmidt, Director of Digital and Product Marketing at Zywave. Bobby discusses the cloud-based portfolio of solutions and how they are continually working to strengthen the technology platform. Episode Highlights:
David introduces Bobby Schmidt. (1:29)
Bobby shares his work background. (2:06)
David mentions that Zywave is an excellent tool and he uses it at Florida Risk Partners. (5:04)
Bobby says that two of their flagship products are the Broker Briefcase and ModMaster. (6:48)
Bobby shares that they wanted to invest substantially in R&D and obtain a thought- out acquisition strategy to become a central partner. (9:00)
Bobby says the Broker Briefcase has the ability to boost sales and marketing. (9:19)
Are data points done on an individual account by account basis or by industry segment? (13:01)
Kyle says the Zywave was introduced to him by when they first met to discuss his onboarding. (15:05)
Does the level of data that we get through using the Broker Briefcase campaigns lag compared to what we can get from HubSpot? (24:01)
Bobby says they use a marketing automation system in their marketing team. (26:51)
Does Bobby foresee anything on the horizon where we’re able to use Zapier integrations? (27:24)
What’s on the horizon for Zywave right now? (31:25)
Bobby says that leveraging data from miEdge makes prospecting smarter and easier. (32:25)
Bobby talks about the MyWave to Client Cloud portal. (37:06)
Bobby says that Zywave’s advanced learning management system is applicable to P&C. (37:50)
Bobby believes that they can meet the needs of any agency because they have different suite options that are certain solutions packaged together at different levels. (39:48)
Tweetable Quotes:
“A full-service insurance agency, that's absolutely something Zywave does provide.” - Bobby Schmidt.
“The possibilities really are endless, and how to fuel the other technology that we've already built are currently in the works.” - Bobby Schmidt
“Your system of truth is your source of truth.” - Bobby Schmidt
Resources Mentioned :
David Carothers LinkedIn
Kyle Huock LinkedIn
Florida Risk Partners
Bobby Schmidt LinkedIn
Zywave
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Greg Hogan, CIC, CRM, President of Curabba Agency in New York. Greg talks about how he got into the insurance industry, the nuts and bolts of purchasing an agency, and what has contributed to his agency’s success. Greg also shares how his agency has been managing during the COVID-19 situation.
Episode Highlights:
David introduces Greg Hogan. (1:24)
How easy was it for Greg to transition to working remotely? (2:39)
David shares that technology works better when working remotely than working in the office. (3:17)
Has Greg had any technology issues since working on remote? (3:25)
Greg says EZLynx is a very meticulous website for quoting. (9:02)
David uses Swift as his benchmark when he runs everything through the quote rush. (10:13)
Greg uses PL Rater and all of their company uses it. (10:16)
David asks, what's going to happen when the chargebacks start hitting? (16:37)
Greg says that personal lines are the driver of the renewal stream income. (19:55)
Greg says the revenue growth spike could also be a revenue dive when you lose one of the accounts. (21:54)
Greg shares what it was like when he acquired an agency vs. acquiring a book of business (23:15)
Greg talks about his agency career. (23:51)
Why did Greg buy the whole agency instead of the assets or the book? (26:32)
Greg mentions what his old mentor said to him. (27:09)
Greg shares that he digitized the whole agency and retrain his employees in using the database. (32:09)
How is Better Agency working for Greg’s agency? (38:14)
David mentions that we live in an instant society where everybody wants everything instantly. (40:39)
Tweetable Quotes:
“You have stuff and you just don't know all the features and uses of it.” - Greg Hogan
“When you buy an agency, you're buying things that have been done wrong.” - Greg Hogan
“If you buy garbage data, you're going to have garbage data until you clean it.” - Greg Hogan
Resources Mentioned :
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
Greg Hogan LinkedIn
Curabba Agency
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by David Lefevre, Owner of SalesPWR. They continue to discuss all about CRM and why the workers’ comp expiration date is significant.
Episode Highlights:
David Lefevre shares what makes CRM work for the business itself. (1:44)
David Lefevre mentions one of the things they did in HubSpot. (5:44)
How much is too much, for David Lefevre? (8:02)
David Lefevre shares why the workers’ comp expiration date is one of the most significant pieces of data. (10:50)
David Lefevre explains why you need to capture and utilize what's critical to your business. (12:57)
Tweetable Quotes:
“What really makes a CRM work is how you look at the information and the views that you have. It's all about lists, views, and being able to ask yourself a question with one click of a button and get an answer.” - David Lefevre
“You want to be able to create that product and performance improvement by just being able to click things. Views are the way you do that.” - David Lefevre
“You don't want to overwhelm yourself with so much detail that you get lost. It's nice to have information at your fingertips. You always have to judge whether it's a one-off, whether it's nice to have, or whether it's integral to your business process.” - David Lefevre
Resources Mentioned:
David Lefevre LinkedIn
SalesPWR
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers, and co-host Kyle Houck interview Ryan Hanley, the founder of Rogue Risk. Ryan shares what he has learned since starting his agency from scratch including the importance of believing your value proposition, investing in yourself and listening, and learning from others.
Episode Highlights:
David introduces Ryan Hanley. (1:24)
Ryan considers himself as an agency owner in name only at this point. (2:57)
Ryan mentions that he uses QQ Catalyst and Agency Zoom. (7:05)
David explains that the internet has created a competitive environment. (8:30)
David says that automation is a buzzword. (9:02)
David mentions that there is nothing more basic than direct mail. (11:10)
What were the obstacles that Ryan faced? (11:27)
What exactly is Ryan trying to figure out? (15:36)
David says that people get frustrated with telemarketing or calling to set appointments, and they give up. (18:19)
David shares why you don't have to be the smartest person in this industry to succeed. (21:54)
Ryan shares what has learned a lot in seven weeks of selling insurance. (27:26)
How many carriers are forcing webinars daily? (28:28)
Ryan says that you will learn a ton by calling your carrier to ask questions. (28:48)
David shares that he wants to create a community rather than a training program. (34:02)
Ryan says that he has so much respect for IAOA. (35:06)
Kyle talks about marketing drops. (38:57)
Tweetable Quotes
“You do not just go out and people come running up to you for insurance.” - Ryan Hanley
“You learn more from the ones that you lose than the ones that you win.” - Ryan Hanley
“Once I start to really believe my value proposition that I am coming in to help you, it gets so much easier. Because now if you don't want to do business with me, that's fine. But I know I'm helping you. ” - Ryan Hanley
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Ryan Hanley LinkedIn
Rogue Risk
In this throwback episode of The Power Producers Podcast, David Carothers, and co-host Kyle Houck interview Mike McDonough, the leader of Worker’s Comp Renegade and director of McDonough Insurance Services. Mike talks about how he shifted his career from being in the food industry into the insurance services, the Worker’s Comp Renegade being a strategic partner, and the impact that the Worker’s Comp creates in an employer’s life. Episode Highlights:
Mike shares his background story and the key to his success. (5:52)
Mike explains how he handles different personalities when management changes. (7:57)
Mike attributes his success with Farmers to his training at State Farm. (10:29)
Mike shares how they evolved through the insurance business and industry. (11:32)
Mike realized that controlling Worker’s Comp makes an impact on an employer’s life. (12:07)
Mike explains how they help employers, primarily by setting up a proactive program and working with them throughout the claims procedure. (18:46)
What's the biggest obstacle Mike faces when trying to engage with an employer that has an issue? (19:15)
Mike shares that there are employers that will consider a deductible, and there are employers that will look at a self-insured program. (25:34)
Mike states that when you're self-insured, you're involved in the whole claims process, and you're hiring a TPA that's in alignment with your company. (26:23)
Mike explains why their litigation rate is below 15% because of the triage. (40:57)
Mike shares the advantage of having a bilingual on his team. (42:51)
Mike believes that brokers can really do a good job and help employers to improve their bottom line. (1:02:18)
Mike says if you don't understand worker's comp, contact people that do know workers comp, and are willing to mentor you. (1:02:54)
Mike states that if you're going to write a worker's comp, do yourself and your clients a favor, and learn as much as you can about it because that's the only way you're going to benefit them. (1:04:10)
Tweetable Quotes:
“I'm just a firm believer that if you do the right thing, the money will come”. - Mike McDonough
“They make mistakes. We all make mistakes, but the bottom line is that you need to have accountability”. - Mike McDonough
“The worker’s comp is a huge profit center for these PEOs.” - Mike McDonough
Resources Mentioned :
David Carothers LinkedIn
Kyle Houck LinkedIn
Mike McDonough LinkedIn
Workers Comp Renegade
McDonough Insurance Services
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by David Lefevre, Owner of SalesPWR. They continue to discuss what CRM is all about and what kind of customizations an agency principal is looking for.
Episode Highlights:
David Carothers shares what an agency principal must look at when it comes to CRM systems. (4:25)
David Lefevre mentions the new name of Infusionsoft. (7:40)
David Lefevre explains what all of the CRMs have in common. (8:01)
David Lefevre shares why you must do account based selling. (9:59)
David Carothers shares where he sees most people fall short. (14:08)
David Carothers mentions one of the most basic things to do when you're in a meeting. (16:23)
David Lefevre mentions a tool that’s utilized in Salesforce. (22:45)
Tweetable Quotes:
“If you want to make your business fit their technology then that's great. Realize there may be things that you do that you're going to have to change simply because their system is not set up to work the way that you work.” - David Lefevre
“Trying to make sure that you capture as many people as you can in that decision making circle. Gathering that information making sure that you have those names, contacts, and emails because you may not always be able to get in and talk to the CFO.” - David Lefevre
“You need to be looking at it as, how am I saving money in terms of hours and labor. Am I able to improve the sales that I make? Instead of closing five new clients last month, am I able to add a client every month on average and basically pay for the software and then some? That's how you can look at how you're paying for it.” - David Lefevre
Resources Mentioned:
David Lefevre LinkedIn
SalesPWR
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Jennifer Klages, owner of My Choice Insurance Group PLLC. Jennifer shares how she became an agency owner, the challenges she faced, and how her passion and resilience have helped her become the great agency owner she is today. Episode Highlights:
How Jennifer joined the insurance world (03:04)
Jennifer’s experience at Allstate insurance (05:45)
What inspired Jennifer to start her agency? (13:54)
How many carriers does Jennifer work with currently? (17:42)
Ethan’s story and how it inspires David and lessons we can learn from Ethan (22:19)
What systems does Jennifer use in her agency to help keep up with everything in her agency? (35:09)
What stands out in how Jennifer operates her agency? (38:58)
Has COVID affected Jennifer’s business? (39:52)
What’s Jennifer building in her garage? (47:12)
Where does one acquire the skill set to build a trailer from the ground? (47:27)
Jennifer’s advice to anybody who is looking to become an insurance agency owner (51:21)
Apart from insurance, what is Jennifer’s other passion? (55:25)
Tweetable Quotes:
“For me, if I want something and I get a, no, it doesn’t mean never. It just means no right now.”-Jennifer
“Every challenge creates an opportunity if you are paying attention.”- Jennifer
“Your success is a reflection of how successful you are.”
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Jennifer Klages LinkedIn
My Choice Insurance Group PLLC.
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Chris Greene, President of The Flood Insurance Guru. Chris talks about the importance of flood insurance, the difference between Private Flood Insurance and the NFIP, and the three things that helped him build a national brand for his company.
Episode Highlights:
Chris Shares his background story and his secret for success. (2:00)
Chris says that he grew up with a severe learning disability. (8:17)
Chris explains the flood policies his company provides? (8:41)
Chris explains the automation process when someone requests a quote on his website. (13:41)
Chris shares that the whole point of NFIP is to make sure the customer has something. (14:40)
Chris shares why it’s important to make the agent look like a rockstar. (15:13)
How many agencies does Chris work with right now? (15:20)
Chris explains the difference between the National Flood Insurance Program and Private Flood Insurance Companies (15:51)
Chris explains why the rates are changing based on proximity to the water. (18:50)
Chris shares the reason why he plans to buy a camper. (20:58)
When did Chris decide to get ridiculous with content? (25:28)
Is Chris doing the same content for his blogs and videos? (26:02)
Chris shares why Ryan Hanley is one of his biggest mentors. (28:00)
What did Chris learn from Marcus Sheridan? (32:20)
Chris shares that he gets a list of every single flood map update across the country. (40:08)
Does Chris think the government can keep NFIP in place? (44:23)
What's the most important thing people need to know about flood insurance? (45:19)
Tweetable Quotes:
“I think I'm a spitting image of overcoming an objection. I'm a big advocate for kids with learning disabilities.” - Chris Greene
“Always remember you’re a marketer first. You're an insurance agent second.” - Chris Greene
“Our whole job is to make that agent look like the rockstar to the client so that they have a client for life, which means, we have a client for life.” - Chris Greene
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Chris Greene LinkedIn
The Flood Insurance Guru
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by David Lefevre, Owner of SalesPWR. They continue to discuss the basics of CRM and how to bring a CRM to your insurance agency.
Episode Highlights:
David Lefevre shares the first thing to do when bringing a CRM to your insurance agency. (1:42)
David Lefevre explains why it’s significant to have companies and contacts if you're doing commercial lines. (2:29)
David Carothers shares why his VA has been helpful in his agency. (5:19)
David Lefevre shares one of the things they did when they put the companies in. (6:53)
David Carothers mentions what he didn’t realize about HubSpot. (8:49)
David Lefevre shares why a lot of people misunderstood marketing automation and CRM. (10:42)
David Lefevre gives the steps in bringing a CRM to your company. (17:27)
David Carothers shares why people must determine what lines of coverage they’re going to represent everybody. (22:46)
Tweetable Quotes:
“The first thing is knowing what your business is doing and whether you need to sell commercial lines with companies and contacts, or whether you can get away with personal lines and just work with a CRM that doesn't do companies.” - David Lefevre
“This is a great computer that you can do a lot with. Obviously you want it to work with the CRM and be able to maintain all the information you need about your prospects, leads, and clients.” - David Lefevre
“Always lead by example because agents see owners or lead producers who are running a team. If you're not doing what you're asking your people to do, it's really discouraging. They may go in and look at a company or a contact and they're gonna see that you're not doing what you are asking them to do.” - David Lefevre
Resources Mentioned:
David Lefevre LinkedIn
SalesPWR
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Ricky Hayter, owner of ANR Insurance Group. Ricky shares the challenges he faced when starting his own company, and why researching is so important in insurance. Ricky also explains how ANR Insurance Group focuses on superior client experience.
Episode Highlights
Ricky shares his background story and the secret of his success. (8:24)
Ricky shares how started with State Farm. (10:46)
Ricky spent a week researching what an insurance agent does in general. (11:55)
What was Ricky’s biggest takeaway from working at State Farm? (14:11)
Ricky explains how he learned how to change his mind on the independent side. (19:22)
Ricky shares his background in light industrial work. (22:46)
What has been the biggest obstacle for Ricky making that change from personal lines? (23:21)
How many people would Ricky get back if he just started laughing for no reason? (39:33)
Ricky explains why he loves insurance and helping people out. (23:23)
Ricky says that he’s excited to start working with people that take or appreciate his advice. (27:14)
Ricky talks about when he spent a year doing nothing but cold calling leads day in and day out to build a personal lines book. (34:44)
Ricky shares how he built a decent base of his personal lines book. (42:21)
What is Ricky’s reading list? (49:53)
David and Kyle share their favorite sales book. (56:41)
What is Ricky’s favorite thing about being an independent insurance agent? (59:17)
Ricky explains how he got really good at overcoming objections. (35:10)
Tweetable Quotes:
“You have to do four things to be more successful than your peers in the insurance industry or any industry. Be on time, return phone calls and emails in a proper timeframe, do what you say you’re going to do, and if you don’t know the answer, don’t make one up.” - David Carothers
“I'm excited to start working with people that do take my advice or appreciate my advice and want to hear it.” - Ricky Hayter
“For agents that are younger starting out, there’s no right way. The right way is, what gets you paid and what makes you happy.” - Ricky Hayter
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Ricky Hayter LinkedIn
ANR Insurance Group
In this throwback episode of The Power Producers Podcast, host David Carothers and co-host Kyle Houck, interviews Bob Klinger, President and CEO of Klinger Insurance Group located in Germantown, Maryland. Bob discusses his military background, what brought him into the insurance industry, marketing strategy, his staff, and giving back.
Episode Highlights:
How did Bob Klinger get into the insurance industry? (2:49)
Why did Bob Klinger decide to start a dry cleaning business? (5:37)
Bob explains the importance of working in various roles to understand the pieces and parts of what made their operations tick. (8:36)
Why does Bob take his staff on field trips? (13:23)
Bob shares how his Ranger mentality impacted his managing style and how he has evolved. (15:26)
Everyone that holds a desk at Klinger Insurance Group has to hit numbers, daily/weekly goals, and incentives. (17:26)
Hiring and probationary periods. (18:24)
Prioritizing your daily routines. (26:41)
Using your CRM and tracking outbound calls. (28:46)
Why is it important to execute a defined process? (30:58)
Marketing, advertising, and giving back to the community. (39:01)
Tweetable Quotes:
“I think that if anything gives me chills, it’s giving back. You know, I grew up pretty easy, I grew up pretty poor, and so being in this industry has given me a blessing and a standard of living to give back.” - Bob Klinger
“No matter who you are, you have to execute the process that has been defined, that has been proven to be successful to perfection.” - David Carothers
“I just realize that not everybody's going to think like you; in some cases, that's good.” - Bob Klinger
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Bob Klinger LinkedIn
Klinger Insurance Group
In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by David Lefevre, Owner of SalesPWR. They discuss what CRM is all about and why people should utilize it.
Episode Highlights:
David Lefevre explains what a CRM is. (3:59)
David Carothers shares how CRM has changed. (5:31)
David Lefevre shares why marketing is one aspect of communication. (6:38)
David Lefevre mentions what they’re doing at Florida Risk. (7:43)
David Carothers mentions the problem with AMS and CRM. (8:54)
David Carothers shares which CRM people should use. (11:27)
David Lefevre shares why people should utilize CRM. (16:26)
Tweetable Quotes:
“The more clients you have, the more you're going to forget. We all know that customer service is king. Meaning, staying on top of your customers and knowing ahead of time what their needs are.” - David Lefevre
“Marketing is one aspect of communication. Agency management systems are designed around doing business for an agency. They're not intended to be marketing communication tools.” - David Lefevre
“If you don't put good information in, you can't get good information out of it. The whole reason you have this is to get good information out.” - David Lefevre
Resources Mentioned:
David Lefevre LinkedIn
SalesPWR
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and James Jenkins are together with Brandon Smith, Public Speaker and EVP of Development & Strategy at Glidewell. They talk about the release of his 2022 Producer Development Planner and how his Producer Development Program is helping producers to find balance and live with intention.
Episode Highlights:
Brandon shares his motivation for creating his planner. (3:41)
Brandon talks about the importance of calendar and time management. (7:03)
Brandon explains that his whole 2-year journey was to simplify his life. (15:43)
Brandon talks about the producers’ perspective in the business. (18:28)
Brandon explains how his personal planner is different from the rest. (22:35)
Brandon shares how his planner would help agency principals provide more opportunities for positive action. (28:29)
Brandon explains why people deserve what they tolerate with behavior. (32:09)
Brandon shares the first step to roll out in the right direction. (34:07)
Brandon explains the importance of balance. (37:29)
Tweetable Quotes:
“How are you budgeting your time? If we really believe that time is money, how are we going to spend it?” - Brandon Smith
“If you tolerate average, if you tolerate status quo, if you tolerate just winging your schedule, winging your day just waking up and be like, oh, we'll see what happens today. You deserve the results.” - Brandon Smith
“If we don't know what balance is, we live life out of balance. But balance is so key to figure out because we balance our checkbook, we balance our tires, we balance our portfolio. You fall over if things are unbalanced. And so we've got to be better at balancing our time. And again, the only way to do that, intentional living.” - Brandon Smith
Resources Mentioned:
Brandon Smith LinkedIn
Producer Development Program
Book: The 2022 Producer Development
James Jenkins
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Cameron Pechia, Managing Partner of Valley Trucking Insurance. Cameron talks about his podcast, Get A Load Of This, how his team sets appointments, and his 75 hard challenge journey.
Episode Highlights:
David shares his experience on his hospital appointment. (3:55)
Cameron shows his appreciation for what David has been doing for the industry. (10:35)
Cameron talks about his podcast, Get A Load Of This podcast that is geared toward the trucking industry. (15:15)
Cameron talks about how having discipline makes everything easy. (16:57)
Cameron gives updates on what he is currently working on. (19:33)
Cameron talks about what his producers do to get appointments. (22:19)
Cameron shares his insight about block scheduling and what it is. (25:42)
Cameron mentions bringing in a VA appointment setter. (30:14)
Cameron shares how he blocks off things that are a priority. (39:28)
Cameron talks about being the head of the household in an organization. (48:21)
Tweetable Quotes:
“Our producers, they are also responsible for outbound marketing, content creation, they've got a database that they work religiously, because we've got it narrowed down to our target, where they're doing cold calls, constant drip contacts, email campaigns, voicemail drops, they're doing engagement via LinkedIn.” - Cameron Pechia
“I created a podcast, Get a Load of This trucking podcast, and all it is bringing value to the trucking industry or professionals and bringing resources, technology, vendors, carriers, you know, all kinds of stuff into the mix in the conversation to just add value.” - Cameron Pechia
“I got all this stuff that I do and I make time, wake up earlier, stay up a little bit later, go at lunch, do what it takes in order to accomplish that.” - Cameron Pechia
Resources Mentioned:
Cameron Pechia LinkedIn
Valley Trucking Insurance
Get a Load of This
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about the risks and benefits of writing Cyber.
Episode Highlights:
David and Kyle talk about the dos and don'ts for writing Cyber. (2:12)
David and Kyle share insight into the increase in premiums. (4:25)
Davis shares what he likes about what ProWriters has done. (10:25)
Kyle tells David his experience in Masterclass. (14:34)
David and Kyle talk about grills. (16:27)
David and Kyle talk about Chris Voss. (18:35)
David and Kyle share some Football insights. (21:18)
Tweetable Quotes:
“If my premium is a well run managed services provider who has all of the proper protocols in place, every ounce of security, like literally everything I need is going to double then I have to believe a good chunk of my competition is going out of business” - David Carothers
“I have to wonder how many agents are listening to this right now that write cyber and feel good about it and they can't tell you with absolute certainty which of their clients have reimbursement forms and which have pay on behalf of? I'm willing to bet the overwhelming majority don't know. That's a big deal, man. ” - David Carothers
Resources Mentioned:
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Kate Bradley-Chernis, Co-Founder and CEO of Lately. Kate explains how AI can be one of your greatest tools for content creation and marketing.
Episode Highlights:
Kate talks about her music background and her experience being in a radio station. (3:18)
Kate shares that she used to own a marketing agency. (12:28)
Kate shares how a medical condition led her to first use a dictation software and why it was a game changer for her. (17:07)
Kate shares her background and how she started her first company. (24:40)
Kate explains why Lately is working successfully. (29:15)
Kate talks about how to make sure you have the correct content system. (36:41)
Kate shares what she does after leading people to their successful path. (45:06)
Kate shares the most magical questions that are very important. (48:29)
Katre explains the biggest mistakes she sees people make when creating content. (50:49)
Kates talks about her motivation to overcome all the challenges she has faced in the past. (54:58)
Tweetable Quotes:
“So the goal is to help you, any brand, any person create more effective social media messaging, that actually gets people to click or reshare in a way that you can, you can track it.” - Kate Bradley-Chernis
“Content that moves people moves mountains, it just does, and are you doing that? If you're not, then you're winking in the dark. That's an old marketing adage. Nobody can see it.” - Kate Bradley-Chernis
“Set yourself up for success and put yourself in the position to do the things you do best and surround yourself with people who can fill in the blanks for you.” - Kate Bradley-Chernis
Resources Mentioned:
Kate Bradley-Chernis LinkedIn
Lately
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Brian Will, author of The Dropout Multi-Millionaire: 37 Business Lessons on How to Succeed in Business With No Money, No Education, and No Clue. Brian explains the concept of his book and what readers can take away from the lessons he has learned in his journey to becoming a multi-millionaire.
Episode Highlights:
Brian talks about his book The Dropout Multi-Millionaire: 37 Business Lessons on How to Succeed in Business With No Money, No Education, and No Clue. (2:21)
Brian shares his techniques and methods when writing his book. (5:36)
Brian talks about his journey and how he was able to finish the book. (8:48)
Brian explains the reason why most businesses fail. (15:13)
Brian shares the Chapter 1 preview from his book and the lesson people can learn from it. (19:13)
Brian gives his advice to listeners on how to understand when people say no. (22:54)
Brian answers the question of why people should get a copy of his book. (24:11)
Brian shares how these lessons translated to his current clients. (32:37)
Brain talks about his thoughts about retirement. (38:29)
Brian shares the biggest thing that he has learned throughout his career. (44:40)
Tweetable Quotes:
“It's been an interesting journey through different industries and selling different types of companies. But I found that, if you're good at running a business, you're good at running a business.” - Brian Will
“If your business isn't where it needs to be, there's a reason, and the reason is you. If you don't understand that, then you're not going to be able to move forward.” - Brian Will
“If you are not where you want to be eventually in life, then you're not making the right decisions. And you need to find somebody that can help you do that.” - Brian Will
Resources Mentioned:
The Dropout Multi-Millionaire: 37 Business Lessons on How to Succeed in Business With No Money, No Education, and No Clue
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about their budding relationship with KPA and how it is providing them with the tools and factual data they need to make their case with underwriters.
Episode Highlights:
David and Kyle explain how KPA is helping them. (3:09)
David talks about his difficult plumbing account situation. (4:00)
Kyle explains how KPA is helping them with benchmarking and total compensation reports. (6:43)
David discusses how they used KPA to help with their non-renewal. (8:35)
David shares the outcome of what happened with his client. (12:38)
Kyle and David share the importance of having factual data when selling. (13:47)
Tweetable Quotes:
“If we were to go back right now and rewind that and look at how many of those plumbers we now represent, it's pretty crazy.” - David Carothers
“You don't even have to sell too hard when you've got all that factual data to back it up.” - Kyle Houck
“I think that we stop, we stop at the sale and we don't realize we still have to sell the company.” - David Carothers
Resources Mentioned:
KPA
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Chris Beall, CEO of ConnectAndSell. Chris discusses the common pitfalls in cold calling and shares tools to overcome those pitfalls and go from fear to commitment in 27 seconds.
Episode Highlights:
Chris talks about what they do at ConnectAndSell. (7:21)
Christ shares tips about public speaking. (11:01)
Chris talks about how long it should take to gain trust in a cold call. (15:51)
Chris shares how his company can close a sale in 27 seconds. (23:33)
Chris states that it is very important to sell meetings. (32:06)
Chris talks about the hardest part of selling. (35:33)
Chris explains the difference between speaking to someone in person versus on a phone call. (40:23)
Chris shares a way to let people know that your time is valuable. (47:16)
Chris talks about the right way of developing your personal skills. (50:19)
Chirs shares his insight about accountability. (53:50)
Tweetable Quotes:
“It all comes down to what happens in that human interaction and can you get somebody to go from fear to trust, trust to curiosity, curiosity to commitment? - Chris Beall
“They are taught to go for value. Value is death in the cold-calling.” - Chris Beall
“I decided to be really frustrated and ego-driven every time I missed one and that made me great. No, it doesn't work like that. Humility is how we learn things.” - Chris Beall
Resources Mentioned:
Chris Beall
ConnectAndSell
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Sean Kirby from Performance Group Indiana. Sean discusses their agency’s move into the tax and accounting space, how they are training and recruiting staff, and the lessons they are learning along the way.
Episode Highlights:
Sean shares his background story. (3:12)
Sean explains that financial planning is typically designed for individuals. (4:27)
Sean talks about the growth of Performance Group Indiana. (8:40)
Sean says that in the last few years, they've started to hire young people that want to grow businesses. (14:07)
Sean mentions that they recently hired an outside sales producer. (31:01)
Sean explains that as you earn more clients, you will gain more knowledge. (34:18)
Sean believes that they gained a lot of credibility during COVID. (37:10)
Sean talks about the moment they learned to do things electronically. (39:10)
Sean believes that if employees are properly trained and there is a solid scalable work process in place, it lends itself to good prospects for both reps and clients. (43:28)
Sean discusses the advantages of having a tax accounting side. (48:59)
Sean mentions that a lot of people are so entrenched in their agency that they are unable to think outside the box. (52:58)
Tweetable Quotes:
“In the last couple years, we've started to hire more and more people, young people, that want to grow entities.” - Sean Kirby
“Everything kind of happened one step at a time. And then as you gain more clients, you gain more knowledge from it.” - Sean Kirby
“We're trying to find new ways to grow our business and we have lots of different options, which is the best part.” - Sean Kirby
Resources Mentioned:
Sean Kirby LinkedIn
Performance Group Indiana
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Crystal Ware. David, Kyle, and Crystal discuss their better halves’ successes and motivations, and the importance of being coachable.
Episode Highlights:
Crystal asks David if her wife’s success drives him to compete better. (1:49)
David and Kyle share what they see in their wives that makes them think they are going to be successful in insurance. (6:19)
Kyle shares that coaching and being coachable play a big part in life. (11:03)
David shares about his time coaching sports for 3 seasons. (13:35)
David asks Crystal what led her to believe that she will be successful in insurance and what advice she would share to other women looking to get into the industry. (18:52)
David tells a story about his wife’s marathon experience. (20:06)
Crystal gives her advice to females that have just started in the industry. (23:45)
David states that he believes skills are completely transferable. (25:21)
Tweetable Quotes:
“Help them come to the conclusion, but don't tell them...that's the way people learn and grow. And that's what we have to do as good mentors, good bosses, good agency owners.” Crystal Ware
“If you can commit and make a plan, it's goal orientation. 100%. Anybody can complete a marathon. You have to be willing to do the work to get there. “ - Crystal Ware
“I want them to make decisions and understand the consequences and rewards that come from decisions.” - David Carothers
Resources Mentioned:
Crystal Ware LinkedIn
Empower Benefits & Insurance Group
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Brian Ahearn, an Author, and Chief influence Officer at Influence People. Brian answers 3 significant questions about the insurance industry.
Episode Highlights:
Brian talks about how he started in the insurance industry. (3:09)
Brian shares how he was able to keep pushing for his success. (6:36)
David asks Brian, what is one thing that producers need to stop doing. (9:35)
Brain shares what producers should start doing. (17:32)
Brian answers what producer’s behavior he thinks should continue. (24:00)
Brian shares the most rewarding aspect of his career. (28:18)
Brian shares how he can be contacted and followed. (36:30)
Brian tells how he makes deals with his clients and prospects. (46:18)
Brian shares about what a mirroring mindset is, and how it is useful. (49:00)
Brian talks about the difference between teaching and manipulation. (52:17)
Tweetable Quotes:
“It should never be about me getting you to like me, it should always be about me doing everything I can to like you.” - Brian Ahearn
“Most of us learn what we learn from reputable places. And then we fail to cite those sources, when the truth is if we cite them will be even more credible.” - Brian Ahearn
“My goal with this is professional success and personal happiness. If I can give them tools, that when they go home, and they have conversations with their spouse, or kids or neighbors and they get along better, there's more peace and happiness...that’s a really good why.” - Brian Ahearn
Resources Mentioned:
Brian Ahearn LinkedIn
Influence People
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Toby Hansen, Owner of Toby Hansen Insurance Agency, and co-founder of GSTsoftware. Toby talks about his move from captive to independent agent, what's going on in the world of Insurtech, and how GSTsoftware helps insurance professionals get their business done in the most efficient way possible.
Episode Highlights:
Toby discusses his background. (2:30)
Toby believes that insurance agents sometimes wonder if the carriers have a clear vision. (5:11)
What has Toby learned as a result of his transition from captive to an independent agent? (9:50)
Toby explains the idea of their payment portal and how it helps people. (13:28)
How does Toby get their product into the market? (16:46)
Toby mentions that if you don't have a good tasking system, you won't realize how much your employees are avoiding such issues. (25:09)
David, Kyle, and Toby discuss the significance of accepting all forms of communication. (29:04)
Toby explains the advantages of making the best use of technology. (41:44)
Tweetable Quotes:
“If you don't have a good tasking system, you don't realize how much your staff is avoiding that stuff.” - Toby Hansen
“When you're in the agency world, and you've been the principal, you start to understand that for every person that just doesn't want to pay their bill, there's four of them that you just need you to hold their hand to pay their bill.” - Toby Hansen
“Technology is not in the agency world to replace human interaction in the human experience. It's here to enhance human interaction in the human experience.” David Carothers
Resources Mentioned:
Toby Hansen LinkedIn
Toby Hansen Insurance Agency
GSTsoftware
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Crystal Ware. David, Kyle, and Crystal discuss their motivations, goals, fears, and challenges in their journey.
Episode Highlights:
Crystal believes that making money as a motive is not a bad thing. (3:15)
David talks about his goal setting and motivation. (3:36)
Crystal explains why she decided to start her own agency with David. (3:35)
David says that from an entrepreneurial perspective, he’s absolutely fearless. (9:15)
David states that he is a competitive person. (13:45)
Crystal talks about her fear when it comes to producing. (15:37)
Crystal gives advice to anybody interested in opening a solely personal line, boutique agency. (20:22)
Crystal discusses the difficulties she has encountered on her path. (21:21)
David explains why he thinks that if you're responsible for a larger team, it's easier. (24:48)
Crystal talks about how difficult it is to hire employees. (26:32)
Tweetable Quotes:
“I don't think it's wrong to set goals for material things if you're going to reward yourself for doing your job at a very high level.” - David Carothers
“From an entrepreneurial perspective, I am absolutely fearless. I will try anything.” - David Carothers
“Hiring can be a challenge. You’ve always just got to keep your eyes open and be ready when a good person is available.” - Crystal Ware
Resources Mentioned:
Crystal Ware LinkedIn
Empower Benefits & Insurance Group
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Chris Paradiso, Owner of Paradiso Financial and Insurance Services. Chris talks about refining and redefining the sales game through the new version of his magazine, The Last Agent Standing.
Episode Highlights:
Chirs shares about his magazine, The Last Agent Standing. (2:23)
Chirs talks about raising money for charitable organizations. (3:47)
Chris elaborates on who is featured in the magazine and why. (8:11)
Chirs enumerates the impact of COVID on his business. (9:38)
Chris shares his thoughts about the financial situation of companies during COVID. (11:34)
Chris shares a very powerful mindset to be successful. (17:03)
David announces he will be giving away a copy of The Last Agent Standing Magazine. (20:05)
Tweetable Quotes:
“In the insurance space, we all have the same pain points and we should not be making the same mistakes.” - Chris Paradiso
“There is no secret sauce that is not in some book, you just have to find the right book and the right magazine and or the right reading tool because if you find it, the ingredients to success are written there you just have to read” - Chris Paradiso
“Don't think like an agent, think like a business owner. You’ve got to win.” - Chris Paradiso
Resources Mentioned:
Chris Paradiso LinkedIn
Paradiso Financial and Insurance Services
The Last Agent Standing
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Will Shaw, CEO, and co-founder of Better Agency. Will discusses InsurTech, commercial aspects, and how agency owners grow their businesses more effectively with Better Agency.
Episode Highlights:
Will talks about his time as an NFL player. (5:42)
Will responds to the question of how he was able to learn new skills. (9:16)
Will talks about the relationship between insurance carriers and independent agencies. (15:52)
Will talks about how their company overcame obstacles. (20:22)
Will tells David what he thinks will happen in 2022. (27:12)
Will talks about an achievement Better Agency had that he was really proud of. (31:47)
Will is asked by David what he thinks of the industry being involved in the commercial side of things. (35:33)
Will talks more about his company, Better Agency. (38:21)
Will shares Better Agency’s mission. (48:30)
Will announces that he will be in a race for the benefit of Phoenix Children’s Hospital. (50:59)
Tweetable Quotes:
“Let's build something that has proven processes that agencies can follow.” - Will Shaw
“Our platform, we're gonna help you make money and if it doesn't, then I don't want you on it.” - Will Shaw
“I'm very passionate about what's going on in the industry, what's going on in InsurTech like I follow that stuff extremely closely.” - Will Shaw
Resources Mentioned:
Will Shaw Linkedin
Better Agency
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Crystal Ware. David, Kyle, and Crystal share insight into the power and importance of having more women in the insurance industry.
Episode Highlights:
David shares insights about earning a great weekend. (1:26)
David discusses how things are when he is not at work. (4:17)
Crystal explains why there are so few women working in the insurance industry. (10:11)
David explores the issue of women and minorities working as producers in the insurance industry. (16:31)
Crystal explains how she overcame adversity to get her dream job. (19:26)
David tells a story about his time at the St. Louis airport. (22:36)
David went into detail about how he chose The Protégé. (24:42)
Crystal responds to the question of who is the best teacher and who is more patient in her household. (28:26)
Female success in the sector is highlighted by David and Crystal. (29:30)
David summarizes the importance of minority and female producers to be part of the industry. (31:54)
Tweetable Quotes:
“Ladies, just stand up and raise your hand. And don't be afraid to say I'm going to give this a whirl and seek out mentors, seek out people to help shepherd you and say, “This is what I want to do.” Honestly, that's what I've done throughout my career.” - Crystal Ware
“If your perspective is right, and you focus on the content that makes up the person, you know, whether they're male or female is really kind of irrelevant.” - David Carothers
“I want to run a show where those people will feel comfortable to apply because they have the right skill set and the drive to achieve it.” - David Carothers
Resources Mentioned:
Crystal Ware LinkedIn
Empower Benefits & Insurance Group
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews John Bachmann. John talks about his journey as a claim adjuster, and his new book, The Successful Adjuster’s Playbook.
Episode Highlights:
John shares that he's been working on his book for around 5-7 years now. (2:33)
John discusses his past and how he came to be in the position he is in now. (3:36)
John expresses his surprise that there aren't more claims people who make the switch to sales. (5:48)
John shares what he struggles with when was consulting with agencies. (11:16)
What are the things that frustrate John about dealing with the retail agents and agencies? (19:10)
John shares the topic of his book. (26:54)
What's John’s favorite part of the book he wrote? (34:57)
John mentions that there's so much more that an adjuster can do within their current role if they just expand their mindset. (40:25)
From a claim adjuster’s perspective, what's a piece of advice John can give to the producer? (51:46)
John says that his book, The Successful Adjuster’s Playbook, is accessible in a variety of formats. (53:12)
Tweetable Quotes:
“If you're not able to treat somebody, like a person, a family member, a friend...it's just going to be a transaction. And we might as well just let artificial intelligence and machine learning handle all the claims.” - John Bachmann
“Nevermind adjusting, nevermind insurance, nevermind business. It's your life relationship. If that's your foundation, you'll have good relationships.” - John Bachmann
“There's so much more that an adjuster can do within their current role if they just expand their mindset.” - John Bachmann
Resources Mentioned:
John Bachmann
Norwood Insurance Agency
Book: The Successful Adjuster’s Playbook
David Carothers
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and guest co-host Derek Hayden interview Christian DeLozier, Proactive Business Risk & Insurance Consultant at Mike Keith Insurance. Christian discusses how he got started and how he was able to make his niches successful.
Episode Highlights:
Christian shares his background story. (5:12)
David and Christian mention that they train their new producers to focus on the client with whom they want to work. (11:40)
Christian shares his thoughts about niches. (22:36)
David believes that he has around 276 domains at this stage and spends around $5,000 per year on domains to hold. (25:08)
What does Mike Keith Insurance focus on? (42:53)
Christian talks about their work in the nonprofit and public entities sector. (46:42)
Christian discusses the tools and strategies he utilized to lead Workers’ Comp. (48:23)
Christian shares what David has taught him. (51:10)
Christian discusses three challenges that every business owner faces. (58:47)
Tweetable Quotes:
“Doing the right thing is always the right thing.” - Christian DeLozier
“So human nature, you know, we all want that little dopamine rush. And when we do something that we feel like it's productive, we make a sale, even if it's a small sale, we get that dopamine rush.” - Christian DeLozier
“If we always keep our client's needs ahead of our own, they will always take care of us.” - Christian DeLozier
Resources Mentioned:
Christian DeLozier LinkedIn
Mike Keith Insurance
David Carothers
Derek Hayden
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Stephen Sedlak. David, Kyle, and Stephen explain how to use email effectively at your agency from a marketing perspective.
Episode Highlights:
Stephen discusses how his agency uses email. (8:40)
Stephen discusses their campaign strategy for approaching people. (12:34)
David shares one of the best pieces of marketing he has ever seen. (15:22)
Kyle explains how he creates a successful email subject line. (16:38)
Kyle discusses his email signature strategy. (18:19)
David discusses important email marketing strategies. (19:25)
David believes they did an excellent job with their email at Florida Risk. (24:35)
David mentions that the Power Producers Mastermind is for anyone who wants to be a part of a community of high-level producers who have the ability to make their game greater than it is but don't want the full killing commercial experience. (28:00)
Tweetable Quotes:
“I think the subject line is something. People focus so much on the body of the email a lot of times and don't give enough love to the subject and that could be the whole reason that people aren't responding to your email communication at all.” - Kyle Houck
“It's more about getting those dialogues, getting those conversations started with them and opening up to you a little bit more and introducing yourself.” - Stephen Sedlak
“I think that a lot of companies and agencies lose business because the client doesn't understand that the agent can help them, and they tie them to the carrier. And as a result, they think they have to leave the agency or they get mad at both the agency and the carrier and they leave due to a bad claim situation.” - David Carothers
Resources Mentioned:
Stephen Sedlak LinkedIn
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Andrew Martin, Founder & President of Atlas Financial Strategies. Andrew discusses his transition from life insurance to financial planning, why he decided to become a fee-based advisor, and how he provides value for his clients.
Episode Highlights:
Andrew shares his background. (2:50)
Andrew believes that the property-casualty insurance sector is very transactional, focused on providing quotes, and not so much on educating clients. (5:20)
Andrew explains why he believes individuals are still used to working with advisors on a transactional basis. (9:44)
Andrew mentions that their most difficult challenge is getting the information they require from clients in a timely manner and getting them to follow through on certain commitments. (14:25)
Andrew explains how they came up with hiking the fee. (17:32)
Andrew mentions the importance of educating people on the products and their benefits. (24:36)
How did Andrew decide to switch from life insurance to financial planning? (26:24)
Andrew mentions that it took him some time to get used to the process and how he charges. (31:18)
Andrew believes that one of the most difficult challenges he has faced is the learning process. (32:29)
Andrew mentions that being in front of clients and directing the planning is the most valuable use of his time. (36:10)
Andrew mentions that there are many agents or advisors who are afraid to charge a fee. (48:58)
Tweetable Quotes:
“Before I made that transition into fee-based and charging for our time and advice, I lost what would have been, several good clients, because I didn't charge because the people with money want to pay their advisor or the person they're working with for their time and advice to feel like they're getting that unbiased advice.” - Andrew Martin
“I've always wanted to be a trusted advisor for my clients and be well rounded, and holistic, and help them with everything as much as I can to provide as much value as possible.” - Andrew Martin
“It was a tough transition and making the transition into fee-based, took me a while to kind of settle, and we're still trying to perfect things, as I hope we always do. But it's been one of the best business decisions I've ever made, it really has opened things up, it really has positioned me.” - Andrew Martin
Resources Mentioned:
Andrew Martin LinkedIn
Atlas Financial Strategies
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Kat Ternes, Vice President of Revenue at AgencyZoom. Kat discusses the value of automation in helping teams be more consistent and effective.
Episode Highlights:
Kat shares her background. (10:23)
Kat discusses the concept of AgencyZoom, the marketplace goals, and who they are looking to cater to. (18:53)
Kat discusses their sales and retention module, and how the automation would work around the policies. (20:21)
Kat explains that they use automation instead of just campaigns, which makes them more versatile. (23:48)
Kat mentions that AgencyZoom uses Hubspot and Salesforce (25:54)
Kat explains that automation is meant to make a team more consistent and hence more productive, as well as to allow them more time in their day to spend with the clients. (29:30)
Kat explains the difference between CSAT and NPS. (38:24)
Kat mentions that AgencyZoom has a full pinback module in their product. (41:38)
Kat shares what she thinks will happen in the automation. (42:44)
Kat shares how they celebrate a new sale. (45:01)
Kat mentions that AgencyZoom has created an internship cohort that spans the entire state of Ohio. (48:00)
Tweetable Quotes:
“We're using automation instead of just campaigns. So that helps a lot for us to be a little bit more versatile.” - Katherine Ternes
“Automation is meant to make your team more consistent and thus more effective and to give them more time in their day back to spending it with your customers.” - Katherine Ternes
“If we don't track service, we're not close to doing the whole picture to be able to run our agencies as a business.” - Katherine Ternes
Resources Mentioned:
Katherine Ternes LinkedIn
AgencyZoom
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Stephen Sedlak. David, Kyle, and Stephen discuss strategies for making connections, boosting your credibility, and how to have productive meetings with your clients.
Episode Highlights:
David shares that Christian DeLozier is now officially in Killing Commercial. (1:16)
David talks about his phone conversation with the new member of Power Producer Mastermind. (5:57)
David explains that he struggles to poke holes in smaller accounts since he doesn't know the players as much as he does in the middle market. (8:32)
David mentions that he hasn't done anything based on renewal cycles for a long time. (11:34)
David explains that your skillset must adjust to the account size. (20:06)
Stephen mentions that If you can get clients to talk a little bit more, and you know it's likely to be an area where they have a problem, that appointment will go 10 times better than simply rattling off questions and having them answer them. (22:00)
David believes that one of his talents is that he can go in and collect all of the information he needs from someone simply by talking to them. (22:27)
Kyle mentions that he lays out the things he wants to discuss with a customer before speaking with them. (23:16)
Kyle explains how name-dropping boosts credibility. (25:06)
David explains the significance of making connections with other people, especially while at a networking event. (29:41)
Tweetable Quotes:
“The very first thing I do is I put the summary of coverages in the premium page in the very front of the binder. It's the first page I talk about because I know for a fact that if I don't hit that first the whole time I'm talking they're either going to be rude and disrespectful and thumbing through my binder looking for it and not listening to me.” - David Carothers
“One of the things I bring to the table is to help you avoid the mistakes that some of my other clients have made because I've been with them as they've grown through that process.” - David Carothers
“If you can start that those questions off to where they're starting to talk a little bit more and because you know that's probably going to be an area where they're going to have an issue that appointment is going to go 10 times better than you just rattling off a bunch of questions and having them answer them.” - Stephen Sedlak
Resources Mentioned:
Stephen Sedlak LinkedIn
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Casey Nelson, Founder & CEO at StakWise. Casey discusses the significance of data automation and how StakWise can help agencies in leveraging the most out of their tools and platforms.
Episode Highlights:
Casey shares his background. (3:11)
What should an agency have ready when calling Casey for assistance in integrating automation? (6:12)
What was the most valuable thing Casey was able to take from his past experiences into what he's doing now? (12:15)
Casey mentions renewals and retention as examples of low-hanging fruit. (14:21)
Casey explains the importance of utilizing deep links. (15:46)
Casey explains what deep links are. (16:44)
Casey talks about URL genius. (19:09)
Casey explains what a pixel is and why it is important. (20:33)
Casey mentions that StakWise isn't limited to insurance. (27:34)
Casey believes that those who are breaking ground on many platforms and are ready to take risks in order to communicate through different ways are the ones who will win. (38:48)
Casey discusses how a CRM and other tools decisions are so specific to what an agency does or who an agency is. (46:15)
Casey mentions that his role is to come into agencies and teach them how to use the resources they have to their full capacity. (48:09)
Casey mentions that he's interested in understanding Zoho, so the individuals that use Zoho may soon be a potential client StakWise. (54:15)
Tweetable Quotes:
“This is like the most exciting thing I've ever been a part of, at least to see the changes and be able to provide feedback to some of those vendors.” - Casey Nelson
“It just amazes me that people will spend the money on leads, but not invest the time to be able to put themselves in a position to win those leads.” - Casey Nelson
“My goal is really to take stuff off of your plate, so that we can automate everything that can be automated, we can help you with your contact rate. We can even help you know your numbers...These are all things that I did at the last agency I was with. They're things that I’ve become passionate about, especially the technology and the problem solving.” - Casey Nelson
Resources Mentioned:
Casey Nelson LinkedIn
StakWise
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Peter MacDonald, Co-founder & CEO at Wunderite. Peter discusses Wunderite's goals and how the program makes the insurance application process easier, faster, and more efficient.
Episode Highlights:
Peter shares his background. (2:08)
Peter discusses Wunderite’s concept and the need in the insurance industry that their product meets. (6:45)
Peter explains how the insurance industry's tools have changed since World War II. (8:43)
What's been the biggest surprise for Peter in the insurance industry? (11:48)
Peter mentions that Wunderite makes every insurance application look like a top-of-the-stack submission without taking a lot of time from you, your team, or your clients. (18:30)
What has been the most rewarding part of Peter's Wunderite journey? (24:14)
Peter believes that identification is the most important part of risk management. (43:26)
Tweetable Quotes:
“I think one of the most surprising things recently is that the software has to be so easy. People have no patience, you know where compared to when you go on Amazon, you click a button, and you have a lawn mower delivered to your house tomorrow morning...I think our patience as a society is totally gone.” - Peter MacDonald
“We have four values at the company, one is balance, and we very much want to have a balanced culture.” - Peter MacDonald
“We're just getting started. Our mission is that we want to build the best software for independent agencies. I'm extremely loyal to the industry...I just want to have the best tools out there because I felt like there was an opportunity when I was running an agency.” - Peter MacDonald
Resources Mentioned:
Peter MacDonald LinkedIn
Wunderite
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Stephen Sedlak, author of: The Work Comp Control Effect: 7 Steps to Increase Profits Through Your Work Comp Program. Stephen discusses the purpose of the book, his writing process and shares a few of the unique ways that he has promoted the book.
Episode Highlights:
Stephen explains how he came up with the idea for his book. (3:59)
Stephen mentions that the goal of creating the book was to boost business and use it as a factor in winning new clients. (6:17)
Stephen discusses what he did to promote his book during COVID. (7:05)
David explains why people should purchase the book: The Work Comp Control Effect from Amazon. (10:31)
According to David, it is important to understand that writing a book is only the first stage; the second step is what you do once you have completed the book. (12:38)
David discusses something he did as a result of his training that he believes everyone should do. (16:34)
David explains the significance of allowing someone to speak about their company and what they need from you. (22:29)
Stephen shares how he has promoted his book. (25:38)
Tweetable Quotes:
“Everybody's got a story. Everybody can connect you with somebody, everybody knows somebody. So everybody's a prospect in my eyes.” - Stephen Sedlak
“I've always been a huge proponent of producers, blogging, and creating content in a microenvironment. And that's an easy thing to do. It trains the producer, it creates a habit, but it also gives them credibility.” - David Carothers
“I think that it's also important to know that actually writing the book is just the first step. The other step is what do you do after the fact.” - David Carothers
Resources Mentioned:
Stephen Sedlak
The Work Comp Control Effect: 7 Steps to Increase Profits Through Your Work Comp Program
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
.
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Justin Goodman, President of Total CSR. Justin discusses the changes they've seen, what's new in the business, and how agencies are succeeding by utilizing the Total CSR platform.
Episode Highlights:
Justin shares his background. (2:22)
What challenges did Justin encounter throughout the company's transition? (11:22)
Justin mentions that they invested around a half-million dollars about nine months ago to rebuild and improve their platform. (14:41)
Justin explains how they offer their platform and pricing to both small and large businesses. (18:46)
Justin explains that understanding that each agency had its own process led them to realize that they needed to empower their clients to easily build their own courses. (24:25)
Justin explains how they present their platform to new agencies that join. (26:07)
Justin mentions that one of the industry's major difficulties is the lack of choices for assessing personality and cognitive aptitude, which are generally done on a transactional basis and are pricey. (28:15)
What has been the most rewarding factor of Justin's journey in establishing Total CSR? (32:28)
What does Justin expect to see in the insurance industry? (38:08)
Justin explains that one of the things they want to know while completing their assessments is if these clients will be active learners and driven enough to be successful within the agency's main tasks. (48:46)
Justin shares his goal of becoming the world's largest insurance talent magnet. (49:43)
Tweetable Quotes:
“In our system, we assess for personality profile tied to the specific role in the agency. We also test for aptitude tied in a specific role, we test for emotional IQ, which again is critical in what we do, and computer literacy.” - Justin Goodman
“By taking that feedback, by being bigger, by investing, ultimately, we got on their radar, but we had no guarantees that we’re going to drive response in them, other than the initial feedback they provided to us. And so I had to have enough confidence to say, if I build it, they will become interested and it will open more doors for us.” - Justin Goodman
“What we've allowed is all the interactivity in our system. They can build simple drag and drop way of building courses, but they can upload their specific videos on how to do th process.” - Justin Goodman
Resources Mentioned:
Justin Goodman LinkedIn
Total CSR
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Ron Shroyer, Vice President of Sales at Aureus Analytics. Ron discusses what Aureus Analytics is doing, what the Donna platform is and what it does, and how they're using integration to make it a lot simpler to operate an agency intelligently.
Episode Highlights:
Ron shares his interesting background (2:26)
Ron believes that the end client is the most important thing for an insurance producer. (5:12)
Ron explains what makes Ryan Deeds unique. (6:51)
Ron talks about what they’re doing to gather data. (9:00)
Ron mentions that the foundational technology is what they brought over to the US to be able to build the Donna platform. (10:35)
Ron talks about their recent integrations with other platforms. (21:52)
Ron mentions that Glove Box is doing a fantastic job of integrating a lot of useful information into a way for agencies to communicate with clients, especially through an app. (25:55)
Ron expresses his optimism that the industry will reach that all-encompassing solution within the next 5 to 7 years. (41:25)
Ron talks about Donna version 3.0 that was just released. (42:25)
Ron mentions that if you have that core technology and data stored away, and you know what processes you need to follow and apply. (48:32)
Ron believes that there’s enough business for everyone, especially on the agency side. (50:50)
Ron advises everybody to take one step forward at a time, get the momentum built. (52:11)
Tweetable Quotes:
“That's really what we want to do at Aureus Analytics with this Donna platform is give the end-users who are working with customers just quick insights, how they can better serve their customers, make sure they're keeping them, but let them know where they should spend their time, what types of products they should position as of today, so they can just delight the customers, grow the business, and retain it.” - Ron Shroyer
“I am very optimistic that the industry over the next five, seven years is going to get to that all-encompassing solution - Ron Shroyer
“The integrations that we're working with and the awesome companies that are out there to integrate with...integrations are first and foremost vital to us being able to scale and we're making tremendous progress right now.” - Ron Shroyer
Resources Mentioned:
Ron Shroyer LinkedIn
Aureus Analytics
Donna
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Stephen Sedlak, the Vice President of Schmale Insurance Agency. Stephen talks about how he gets new business and how his experience with ADP helped prepare him for what he does now.
Episode Highlights:
Stephen shares his background. (3:17)
What is one thing Stephen still uses now that he would not have gotten if he hadn't been with the training? (5:23)
Stephen explains how using humor can help win an appointment. (7:23)
Stephen discusses why he prefers face-to-face interactions more than phone calls. (9:03)
Stephen mentions that cold calling is still one of the primary ways he gets new clients. (17:48)
What is Stephen's favorite icebreaker? (19:19)
Tweetable Quotes:
“One of my biggest drivers of how I still get new businesses is cold calling and it's been 10 years I've been in the game and cold calling or cold drops, however you want to look at it, is still a big part of how I do it.” - Stephen Sedlak
“If you're going to wait for everything to come to you, you'll go dead, you’ve got to go out and find it and bring it in.” - Stephen Sedlak
“You don't have to be a full on comedian, you just need a kind of icebreaker, to get them to talk with you and relate with you as a person not to somebody coming in there trying to sell them something.” Kyle Houck
Resources Mentioned:
Stephen Sedlak
Schmale Insurance Agency
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Crystal Ware, Chief Risk Strategist at Empower Benefits & Insurance Group. Crystal discusses how she transitioned from being an attorney to becoming an insurance producer and how they are helping their clients by simplifying the insurance process.
Episode Highlights:
Crystal shares her background story. (2:29)
How does Crystal's background in risk management help her with what she's doing now? (5:03)
Crystal explains why people should let their clients talk in advance. (7:26)
Crystal mentions that she constantly reminds people that her law background has been a huge benefit to her, but that doesn't mean that others need a law background to do what they're doing. (10:24)
How did Crystal and her team establish and continue to grow the agency in an area where energy is likely the top revenue generator in Texas? (14:01)
Crystal emphasizes the need for ensuring that frequent OSHA reporting and safety precautions are followed. (19:11)
Crystal mentions that their team is always intertwined with all new prospects right out of the gate. (25:58)
Crystal mentions that people must be comfortable having conversations and sharing things that the client may not want to hear. (35:32)
Tweetable Quotes:
“We need our clients to talk to us in advance. Because sometimes they run into these weird, unusual contractual scenarios and without working with the right person with the technical expertise, and talking to them in advance, you're going to find yourself in a really challenging position.” - Crystal Ware
“I always tell people, my law background has been a huge advantage to me. But it does not mean you need a law background to do what we're doing.” - Crystal Ware
“We have to be comfortable having a conversation. Saying that thing that maybe the client doesn't want to hear…And I actually lead with that all the time.” - Crystal Ware
Resources Mentioned:
Crystal Ware
Empower Benefits & Insurance Group
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Raghav Tanna, co-founder & CEO of Tarmika. Raghav discusses the importance of utilizing technology, and how Tarmika has built a system that allows agencies to quote commercial business more efficiently.
Episode Highlights:
Raghav shares his background. (2:55)
Raghav discusses Tarmika and how they differ from their competition. (5:25)
Raghav explains why they will never change the way they approach agencies. (12:09)
Raghav talks about why carriers don’t have API in the United States of America. (12:38)
Is there any significance to the name Tarmika? (19:33)
Raghav explains why individuals lose agency and what they can do to avoid it. (24:58)
Raghav says he's always keeping an eye on the expansion of equity firms, such as private equity firms because they're becoming heavily engaged in insurance right now. (30:58)
How would Raghav cover a pandemic? (35:54)
Raghav thinks that we are five years behind in terms of understanding what Cyber is and that it should be covered in terrorism coverage. (38:30)
Raghav believes that execution is lacking, not only in the insurance industry but across the board with most people. (46:06)
Tweetable Quotes:
“At our core, we're a commercialized writing platform. We've built functionality and uniqueness within our system that allows agencies to quote commercial business a little bit more efficiently and faster...we have agencies in the top 100, we have the five out of six largest aggregators in the country. So, we've really focused on making the lives of agencies easier.” - Raghav Tanna
“I was never going to change the way that we approached agencies because I understood agencies and I knew what they wanted at their core, and it wasn't to sell their business to someone else.” - Raghav Tanna
“I'm not the guy that tells people that they can't do something.” - Raghav Tanna
Resources Mentioned:
Raghav Tanna LinkedIn
Tarmika
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Josh Gurley. They chat about why it's important to recognize the benefits of having a niche and how to develop one.
Episode Highlights:
Josh clarifies the difference between having a niche and having an ideal prospect. (2:36)
Josh recalls the first account they worked on and how they progressed from there. (8:10)
What advice does Josh have for those who are just starting out in a certain niche? (10:45)
Josh mentions that within the first two years of their agency's existence, it was voted affiliate member of the year. (11:04)
Josh says that trade shows were their number one way of getting new business up until COVID. (16:58)
Josh recounts one of Andrew's most memorable accomplishments from a few years ago. (21:35)
Tweetable Quotes:
“I've gotten more business off of just giving away free information to people than you could ever believe.” - Josh Gurley
“If you don't have to reinvent the wheel every time, you don't have to have your account managers do different things. It's not brand new, you're not having to figure out who the markets are.” - Josh Gurley
“If you take what we've done in the niche, and that's not all that we do, right? I mean, that's probably 30% to 40% of what we do. But if you take what has been done in the niche, and you take the business that has been written out of there, it’s well over a million dollars in five years.” - Josh Gurley
Resources Mentioned:
Josh Gurley Contact
Hunt-Miller Insurance Agcy Inc.
David Carothers LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Guillermo Vera, Risk Advisor at The Bunker Insurance & Risk Management. Guillermo discusses how they approach potential clients, how they are functioning during COVID, and the importance of branding.
Episode Highlights:
Guillermo shares his background story. (6:00)
Guillermo explains how they are operating during COVID. (15:11)
Guillermo discusses their technique of making a personalized video for their prospects. (17:43)
On top of their daily workloads, Guillermo says his team aimed to complete 15 calls and 15 videos per day. (22:34)
What does the future hold for Guillermo and his team? Is the video strategy still going to be pursued? (29:09)
David shares his admiration for bunkeryourrisk.com's marketing and branding and encourages listeners to visit the website. (30:20)
Guillermo explains how he ensures that their approach is still effective and that the company continues to grow. (32:10)
Guillermo shares that they are still working to improve their video quality. (34:39)
One of the most important aspects of branding, according to Guillermo, is to be there in people's faces and to be out there all of the time. (35:41)
How much of Guillermo's previous experience with Med Devices has he been able to use in his current work? (38:43)
Guillermo discusses another triumph for his squad. (42:01)
David announced that he’ll be publishing his new book called “Dirty 130”. (44:32)
Tweetable Quotes:
“One of the more important things about brands, besides just looking good, is being present in people's faces and constantly being out there.” - Guillermo Vera
“Don't be scared to start, just tweak along the way you'll be fine.” - Guillermo Vera
“I think one of the most important things is to really surround yourself with people who are willing to answer the questions and don't just brush you off.” - Guillermo Vera
Resources Mentioned:
Guillermo Vera LinkedIn
The Bunker Insurance & Risk Management
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Kyle Stephens, Client Executive at RSS Insurance. Kyle talks about the lessons he has learned from his past experiences, which have brought him to where he is now in the insurance industry.
Episode Highlights:
Kyle shares his background. (2:15)
What was Kyle responsible for at ADP? (5:18)
Kyle talks about how ADP helped him prepare for his experience in the insurance industry. (9:46)
Kyle mentions that investing a lot of time made him the President of his group. (15:24)
What's the difference between Kyle's productivity presently compared to when he was still with ADP? (27:05)
Kyle discusses his current agency and how it operates. (31:14)
What has surprised Kyle the most since joining the insurance industry? (34:18)
What has been the most rewarding experience for Kyle? (36:15)
How does Kyle inform a client about a discrepancy with business income? (37:56)
Kyle discusses the conference about human services that he'll be attending in October. (58:04)
Tweetable Quotes:
“One of my goals for today was if I meet with a client, I need a 24 hour turnaround time of getting either the prospect information to our team, or if it’s changed or whatever it may be, so I can just get it out of my mind.” - Kyle Stephens
“If I don't know the steps, or if I don't look at it, if it seems tough, I'm gonna get on Facebook, or I'm gonna go research something instead of submitting this or doing this... So it's more of just getting into it, doing something.” - Kyle Stephens
“For me, that's just been the focus, getting things done and time management, because at the end of the day, if you don't have enough time, you're not going to be able to do anything.” - Kyle Stephens
Resources Mentioned:
Kyle Stephens LinkedIn
RSS Insurance
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Josh Gurley. They discuss how to drive wedges and how to get along symbiotically with payroll companies.
Episode Highlights:
David mentions that payroll companies are a huge source of income in their agency. (1:45)
Kyle shares what he sees on policies that are done through payroll companies. (3:34)
Josh shares that he thinks payroll companies don’t pay attention to credit because they’re not in the business of workers’ compensation. (11:04)
David mentions that how you work with payroll companies is important because they can be a very good referral source. (19:05)
David explains why payroll companies are not competing for workers’ comp (20:48)
Kyle shares that there have been a number of times in the past where he worked with payroll reps that referred a decent amount of business. (22:45)
Josh shares that they hired a VA at their office for personal lines, and how it is working out. (27:22)
David mentions that there will be a big announcement in the next episode. (29:27)
Tweetable Quotes:
“The thing is, every carrier, they have that one special tier, that secret thing that they don't tell anybody about, that they pull out every now and again...and so whenever they tell you, ‘hey, we're at our best deal’, usually, they have that kind of one extra gear that they can put the account into” - Josh Gurley
“We have a responsibility to our clients, that is undeniable. But we also have a responsibility to our carriers. I mean, we're responsible for bringing them good risk, we're responsible for hitting our loss ratios with them, and also our production goals.” - David Carothers
“If you have a clean account, and they have 0% credit, and the carriers file for 40%, then the question is why are you not getting any credit? And you could be getting up to 40%. But I think a lot of times, that's what you get with the payroll companies is they don't know” - Josh Gurley
Resources Mentioned:
Josh Gurley Contact
Hunt-Miller Insurance Agcy Inc.
David Carothers LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Chris Greene, President of The Flood Insurance Guru, an agency that provides flood education and insurance nationwide. Chris discusses how the private insurance industry has evolved, his biggest challenges, and what the future holds.
Episode Highlights:
Chris details his busy schedule over the next few weeks. (2:19)
Chris discusses what’s currently affecting the flood insurance market. (5:50)
What’s something that agents give Chris pushback on? (12:10)
Chris mentions a blog and podcast he just released about hurricane relief. (13:58)
What’s a feature of Hubspot that Chris really loves? (17:47)
Chris discusses how new app roll outs will help him track who’s engaging with his content. (19:45)
How has the private flood market evolved over the last couple of years? (22:15)
What are some enhancements private flood offers that FEMA doesn’t? (23:09)
Chris explains what a flood risk score is, and why it’s important. (25:15)
Chris chats about an acquisition he just completed. (28:28)
Tweetable Quotes:
“Flood zones are no longer really going to determine flood routes, they're only going to determine the requirements. You're going to have the cost to rebuild, frequency of flooding, type of flooding, distance to water...These types of things are all going to impact rates.” - Chris Greene
“You can either take famous data, or you can take an elevation certificate. Well, if it's me, I'm taking the elevation certificate all day long, because at the end of the day, someone actually put their eyes on that property.” - Chris Greene
“Most private companies do have a waiting period that ranges between seven days and 15 days, while FEMA still has that 30 day wait period and they're not changing that.” - Chris Greene
Resources Mentioned:
Chris Greene LinkedIn
The Flood Insurance Guru
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers, and co-host Kyle Houck interview Josh Gurley, the vice president of Hunt-Miller Insurance Agency Inc. Josh talks about the importance of transparency, education, behaviors, and good relationships. Josh also shares how specific behaviors can lead to success.
Episode Highlights:
Where did Josh come from, and how did he get where he’s at now? (2:13)
Josh shares that he has a degree in risk management and insurance. (5:42)
Josh shares how he got into the insurance industry. (5:54)
When Josh started in the industry, his total first-year production was $18,000 in revenue. (16:37)
Josh tells more about how his first-year in the insurance industry was. (18:12)
Josh shares the reason why he lost his insurance industry before. (20:25)
Josh talks about how he became a marketing representative. (25:05)
Josh shares that he has a good relationship with his previous company. (29:51)
What are the changes that Josh did to turn things around? (32:39)
What Josh mostly sees are people that are not good in renewal processes. (35:16)
Josh says that one of the first accounts he called was a bank publicly traded on the NASDAQ. (36:42)
Josh shares one of the biggest success stories of his career. (45:27)
Josh thinks that the biggest mistake that people make is they think that it’s their job to quote people’s insurance. (46:47)
Josh talks about how technology helped them win large accounts just by sending out straight content marketing. (51:29)
Josh explains how they get prospects. (51:48)
Josh uses the word introduction instead of referral in his daily business. (53:29)
Josh shares that they’ve gotten all of their content from soundwave. (1:01:25)
Josh shares his selection process of qualifying people. (1:04:43)
3 Key Points:
Josh just adopted some practices that were different from others. For him, education is important. He never had any issues being a good insurance technician or anything like that.
Josh is passionate about the insurance business, and he thinks it’s the best business that anyone could get themselves into.
Josh believes that there are sets of behaviors that make people become successful.
Tweetable Quotes:
“I believe that the only reason that people get out of the insurance business is that they don’t sell enough insurance”
“You have to respect yourself, you have to respect what you do. You have to understand that what you do brings value to people’s organizations.”
“I think that that transparency is something that is missing a lot in our world.”
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Josh Gurley’s Email
Hunt-Miller Insurance Agency Inc.
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Josh Gurley. They discuss the five-tool player to utilize in the market space.
Episode Highlights:
David mentions why some people hate the audit. (3:37)
David explains why he attends every single audit of his clients. (4:11)
Josh shares why the audit is one of the best wedges out there. (5:54)
David mentions that he wrote an e-book on how to prepare for an audit. (7:47)
Josh gives a one-liner about setting up property insurance. (9:45)
Josh mentions one of the things they talk about when somebody has a blanket property policy. (10:07)
Josh shares one of the things he learned early on in his career that has been significant. (12:11)
Josh mentions the specific question to ask when talking about property. (16:25)
Tweetable Quotes:
“There are so many different things that you can help with at the time of the audit. I don't think that marketing automation drip for the “bee's knees” and “end all be all” but it is certainly their support for the ground troops.” - Josh Gurley
“You're going through a minefield and if you step on a mine which is a claim, do you want the insurance company to show up with a pen and a check, or do you want them to show up with a forensic accountant? That's really the crux of the issue when it comes to property insurance.” - Josh Gurley
“I think with property you can really just drive that wedge by saying, what would you expect to happen versus what is actually going to happen.” - Josh Gurley
Resources Mentioned:
Josh Gurley Email
Hunt-Miller Insurance Agcy Inc.
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast: The Protege, David Carothers interviews Jason Webb, Owner of Minnesota Risk Partners & Host of Minnesota Made Podcast. Jason talks about his experience from the competition and the feedback from his mentors.
Episode Highlights:
Jason shares his thoughts about Protege. (2:34)
Josh and Bradley explain why they picked Jason to be part of their team. (3:51)
What were Jason’s thoughts on the first challenge? (7:11)
Jason shares how he felt about the branding challenge. (8:27)
Jason mentions the pandemic compliance review that he’s offering. (9:28)
What has been Jason’s favorite part of the experience? (11:29)
Josh shares the three yeses that people have to get. (12:40)
Jason shares his podcast, called, Minnesota Made Podcast. (25:17)
Key Quotes:
“When I saw the mention of the Protege, I'm like, well, this sounds exactly like what I should do. And, it helped me motivate myself to get off my butt and actually start executing some things.” - Jason Webb
“By blacking out the premium or withholding this information, you're taking my negotiating power with the underwriter away. What's going to happen is she or he is not going to work as hard on the account, because we're batting blind. You're effectively accomplishing the opposite of what you're trying to accomplish.” - Jason Webb
“The name Minnesota Made podcast, it's focusing on highlighting our interviews with local business leaders in the community...Anybody in Minnesota, athletes, anybody that's done something significant that people want to hear about. I give them the chance to tell their story.” - Jason Webb
Resources Mentioned:
Jason Webb LinkedIn
Minnesota Risk Partners
Minnesota Made Podcast
David Carothers
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Rachel Robison, MBA, Chief Executive Officer at Siege Technology Solutions, Inc. Rachel talks about how their product can make a difference in an agency and why they chose Zoho.
Episode Highlights:
Rachel shares her background. (3:52)
Rachel shares some of the biggest challenges with the current tech stack. (4:48)
Rachel mentions the solution they were looking for. (10:38)
Rachel shares a lot of what agents have fallen into when it comes to technology. (18:08)
What are the features that Rachel is most excited about? (19:42)
Rachel mentions why they worked hard on making their certificates better. (20:43)
Rachel explains why they chose Zoho. (21:36)
Rachel shares a couple bits of information about their product. (27:49)
Rachel gives a piece of advice to the listeners. (30:05)
Tweetable Quotes:
“I think agencies are realizing they need a true CRM system to run their business in today's digital age. These new systems are coming out being built on top of the CRM systems.” - Rachel Robison
“When you've got an old system that you're trying to build on top of, you can sort of make a Ferrari body on an old Chevy motor but it's still gonna run like a Chevy.” - Rachel Robison
“Trying to find your voice and find a way out there so people know you exist is a good way for them to know what options are available to them. Lots of people don't even know what's available to them. They say it's like a light bulb when they see it.” - Rachel Robison
Resources Mentioned:
Rachel Robison, MBA LinkedIn
Siege Technology Solutions, Inc.
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Josh Gurley. They discuss what a wedge is all about and how you frame it.
Episode Highlights:
David shares one of the wedges that he always looks for about worker's comp. (5:38)
David shares one of the things he wants to make sure that they cover as they bring up different wedges that they can utilize at the point of sale. (8:42)
Josh shares his thoughts on worker's comp in Florida. (9:11)
Josh explains the difference between a net reporting of claims and a gross reporting of claims. (11:19)
David shares why you need to communicate at a sixth-grade level when talking to your prospect and clients. (15:57)
How does Josh frame his wedges? (16:44)
Josh mentions one of the things they work on with their clients. (17:18)
Kyle mentions one of the programs they utilize that’s a bit in line with the workers’ comp. (20:42)
Tweetable Quotes:
“It's all about formulating a plan around the rules that are available. So, when you have a lot of states that have the experience writing, there's a ton of stuff out there” - Josh Gurley
“You can run a report and see what your mod would have been, had those deductibles been applied. A lot of times it can make a significant impact on somebody’s premium.” - Josh Gurley
“Doing your job is kind of like getting married. Once you ask somebody to get married to you, you should already know the answer before you're going to ask. The way that I like to frame it is just when I see that I've already run it through the software.” - Josh Gurley
Resources Mentioned:
Josh Gurley Email
Hunt-Miller Insurance Agcy Inc.
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast: The Protege, David Carothers interviews Ryan Keating, CIC, Vice President of Keating Agency Insurance. They’re joined by Protege coaches Ryan Hanley and Ricky Hayter to discuss Ryan Keating’s journey in joining the reality show, and why coaches Ryan Hanley and Ricky Hater chose him.
Episode Highlights:
What was Ryan Keating’s initial reaction when he saw that they were going to have a reality show for insurance production? (3:37)
Ryan Keating shares why he wanted to be part of Killing Commercial. (4:35)
Ryan Keating shares why the value proposition was the hardest piece to put together. (6:58)
Ricky Hater explains why he picked Ryan Keating. (8:12)
Ryan Hanley explains what stood out for him about Ryan Keating. (8:52)
What's the biggest surprise that Ryan Keating experienced, going through the competition? (19:34)
What has been Ryan Keating’s biggest takeaway from the show? (29:35)
Key Quotes:
“In the branding (challenge), I kind of thought I was going to bring up the whole challenge sheet I put together, but it worked well... And, then, getting COVID obviously wasn't fun, in the middle of it... but, the timing worked out well for that.” - Ryan Keating
“So, I picked Keating first, because in the very beginning...and, I don't remember what the posts were...But, he was posting and he was getting a big following about it. At the time, with that following, we thought he was an asset.” - Ricky Hayter
“I'd say part of why I also wanted to get involved with this is... the younger generation of where insurance is going. Iowa is definitely a great place to see the sharing side of things.” - Ryan Keating
Resources Mentioned:
Ryan Keating, CIC LinkedIn
Keating Agency Insurance
David Carothers
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Lorin Montgomery, Vice President at Corporate Insurance Advisors, LLC. Lorin talks about her journey to moving from the company side to the brokerage side.
Episode Highlights:
Lorin shares her background. (2:26)
Lorin shares a story of how she moved from the company side to the brokerage side. (3:29)
Lorin mentions one of the reasons why she wanted to move from the company side to the brokerage side. (13:10)
Lorin shares what she’s currently doing at Corporate Insurance Advisors, LLC. (17:46)
Lorin explains why producers tend to be expedient. (20:26)
Lorin shares her experience with writing contractors. (28:51)
Lorin mentions that she’s the Director for the National Association of Women In Construction. (34:57)
Lorin gives a piece of advice to new producers. (45:14)
Tweetable Quotes:
“The workings of retros, large deductibles, lost development, and triangulation gave me a really solid background or backbone for doing what I do now.” - Lorin Montgomery
“You'd be stupid not to acknowledge the fact that you're a woman in a man's occupation, but I just never let it bother me. I just did my thing. I told people what I knew. I helped them understand their insurances and I was very, very successful on the company side. Then, on the brokerage side I did the same thing but I did a lot more networking.” - Lorin Montgomery
“Work hard, work smart and get a really good center of influence where people respect and appreciate what you do.” - Lorin Montgomery
Resources Mentioned:
Lorin Montgomery LinkedIn
Corporate Insurance Advisors, LLC
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, host David Carothers is joined by Josh Gurley. They discuss what are one-liners that producers utilize and the main action that PEOS does.
Episode Highlights:
Josh mentions one of the best things that happened to him through the pandemic. (3:26)
Josh shares his favorite one-liner. (4:16)
Josh shares one of David’s favorite one-liners of his. (4:55)
David shares the type of one-liners he likes to use. (5:34)
Josh shares a story from one of the largest accounts in their agency. (16:46)
David mentions the number one thing that PEOS does. (20:12)
Tweetable Quotes:
“I think everybody's got to have a good one-liner and you have to be able and willing to share it with people. People like to joke around that you don't have to be all business and serious all the time. It's good to break stuff up with a laugh.” - Josh Gurley
“One of my favorite things to say to people is, that sounds like the quote, hope and hope method to me. They go out and get a quote. They ask you if they can give you a quote and they hope that their quote is cheaper. I hope they get the business and I hope to god that the other guy did it right because all they're doing is copying and pasting what the other person did.” - Josh Gurley
“If you change this product in any way, then we need to know that you have insurance. We want to be additionally insured on your policy because we want to put some space between whatever the event happens in us.” - Josh Gurley
Resources Mentioned:
Josh Gurley Email
Hunt-Miller Insurance Agcy Inc.
David Carothers LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast The Protege, David Carothers interviews Justin Sloan, Owner of BSP Insurance. Justin talks about his approach in the insurance industry and why he wants to be part of the Killing Commercial.
Episode Highlights:
Justin shares his background. (2:48)
Who was Justin using to write his cyber with? (4:35)
Justin mentions why people hate real estate flippers. (6:31)
Justin chats about the framework and systems he has in place. (8:48)
What has been the most challenging experience in Justin’s career? (11:20)
Justin shares why he wants to be part of Killing Commercial. (16:09)
Justin gives a message to the listeners. (25:12)
Justin mentions the biggest takeaway from what David said to him. (29:44)
Key Quotes:
“I really wanted to challenge myself with this and take it to the finish line, and put my best effort in because at the end of the day, you can't learn at all unless you become uncomfortable.” - Justin Sloan
“When I saw you put the competition out there, I knew I wanted to be a part of it because it kind of held me accountable, and I love accountability.” - Justin Sloan
“The fact that I even had that opportunity was only because of this program. That was something that I would have just walked away from, it looked a little complicated. The class of business was a little tricky. But, the fact that I was able to compete on that shows that this program is working.” - Justin Sloan
Resources Mentioned:
Justin Sloan LinkedIn
BSP Insurance
David Carothers
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Monica Adwani, CPIA, and Sarah Thompson of Savvital. Monica and Sarah talk about the types of virtual professionals they bring to the table and what Savvital is all about.
Episode Highlights:
Why do Monica and Sarah think that the VA space is already crowded? (7:14)
Monica explains why they call the VA’s virtual professionals. (10:04)
Monica mentions the type of skill sets that their virtual professionals have to offer. (14:12)
Monica shares what you need to have for you and your agency to grow. (18:29)
Sarah shares some of the technologies that their virtual professionals utilize. (21:31)
What have been the biggest challenges for Sarah and Monica? (26:42)
Monica mentions one of the biggest mistakes that some of their competitors don’t do. (34:37)
Sarah explains what Savvital is all about. (42:51)
Tweetable Quotes:
“We are bringing professionals to the table. It’s not just another person that you can replace. If tomorrow they're gone, they're gone. We want to make sure that they are embedded into your culture 100% all the time and be a virtual professional for your business for a long time.” - Monica Adwani
“When you have a virtual professional working for you, it's very similar to having a live employee in your office.” - Sarah Thompson
“The vital piece comes from the shortage of people we're having in our industry. I think for any insurance company out there to pivot in the next 15 years, these are going to be a vital piece of that growth.” - Monica Adwani
Resources Mentioned:
Monica Adwani, CPIA LinkedIn
Sarah Thompson LinkedIn
Savvital
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, host David Carothers is joined by Josh Gurley. They discuss commercial insurance sales and the biggest mistakes that people make in their business.
Episode Highlights:
Josh mentions the main mistake that most producers make. (2:45)
Josh shares why getting your competition fired is the most significant action that most producers fail to do. (3:29)
David mentions how he prepares for a new business meeting. (12:42)
Josh shares that if the producer talks more than the client, the producer will fail. (16:06)
Josh mentions what he would tell his clients when having a conversation with them. (16:44)
David shares why a relationship builds over time and a relationship is not built to get the business. (18:01)
David explains the reason why some people don’t confidently and immediately discuss their own company. (23:44)
Josh shares what he does to get the competition fired. (25:17)
Tweetable Quotes:
“We spend so much of our time trying to get hired. We talk about all the benefits and how great we are. We fail to do what I think is the very most important thing which is getting your competition fired.” - Josh Gurley
“I want a company that's looking to grow. Not want to hang here for a few years, and then maybe we'll push the needle. No, I want people who push the needle every day because I push the needle every day.” - David Carothers
“Don't ever present to anybody that can't make the decision. Nobody can present better than you can. If you're not talking to the gatekeeper and the gatekeepers get all the information, then you go present it to the gatekeeper and you don't get the deal, don't be surprised.” - Josh Gurley
Resources Mentioned:
Josh Gurley Email
Hunt-Miller Insurance Agcy Inc.
David Carothers LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast: The Protege, David Carothers interviews Derek Hayden, CIC, Benefits and Risk Consultant at Dansig Insurance Risk Advisors. Derek talks about how he used the advantage of being in a small town as his leverage in the competition and how he was able to get through the challenges.
Episode Highlights:
Derek shares his background. (3:41)
Derek mentions the reason why he joined the Protege. (3:57)
Derek shares what his reaction was when he heard about the Protege. (7:24)
When did Derek realize that being a small town was not the issue that others have perceived it to be? (9:46)
Derek shares what he does when he’s outside of Shelbyville and when he’s outside the county. (14:12)
What's the biggest thing that surprised Derek about the Protege? (22:51)
Derek shares why he adjusted how he approached the challenges. (23:23)
Derek gives his takeaway from joining the Protege. (28:56)
Tweetable Quotes:
“The basics of why I got into the protege is I'm at a point in my career where I know I've got what it takes but I wanted to take it to the next level.” - Derek Hayden
“I knew that getting into the door of those accounts, I was gonna have to do something different. Get outside of my comfort zone to win some of those accounts.” - Derek Hayden
“I changed my focus right before I started the protege. I was changing my focus from quoting as much as I could, to being laser-focused on that middle-market account.” - Derek Hayden
Resources Mentioned:
Derek Hayden
Dansig Insurance Risk Advisors
David Carothers
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Chad Eddy, CEO of Indium. Chad talks about his career at Indium and what they’re looking for in a partnership.
Episode Highlights:
Chad shares his career background and what Indium is all about. (3:23)
Chad mentions the purpose of being part of the Insurance Alliance Network. (8:10)
Chad explains what they’re looking for in an agency partner. (10:09)
Chad shares what they’re looking for in a partnership. (20:18)
What were some of the challenges that Chad faced from making changes in the company? (27:46)
Chad shares some of the technologies they have at Indium. (34:09)
Chad shares some of the training resources that they’re doing. (37:12)
Chad gives a piece of advice to the listeners. (50:32)
Tweetable Quotes:
“As the leader of Indium, we've had a chance to kind of reinvent what we do internally. We’ve invested in new technology, brought on new people and built a brand new culture. We really focused on service and our agents and doing the right thing every day.” - Chad Eddy
“Everybody needs a little bit of a different mix of what we can bring to bear and that changes over time too. We know today may be a no, but tomorrow is a yes. We want to make sure we're there for them for the long haul on their journey as much as ours.” - Chad Eddy
“We want agents to stand on their own two feet from a profitability standpoint. If we treat all of our agents that way and work with them that way, we're going to grow profitably as a network tenfold. That's what our carriers expect of us.” - Chad Eddy
Resources Mentioned:
Chad Eddy LinkedIn
Indium
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss the three things that you need to have when doing marketing drops and why there has been more cyber exposure nowadays.
Episode Highlights:
David mentions why he’s anxious about some of the things that they were doing that are different. (2:50)
Kyle shares a story about researching on the front end for several companies that he was going to drop on. (3:27)
David gives the three things that have to happen in the actual collateral. (4:19)
Kyle shares why there has been more cyber exposure for companies. (5:49)
David mentions one of the things he knew after 20 years of working in the industry. (7:51)
David gives a couple of facts about utilizing Guard on the workers’ comp. (11:08)
Kyle mentions what he was doing before the pandemic happened. (16:06)
Tweetable Quotes:
“I don't care if the person's there or not, that's not why I'm doing the drop. If they're there and I can talk to them, that's a bonus. I'm just trying to get the correct info and introduce myself.” - Kyle Houck
“I think that if you have those three things in there, you have three talking points. We talked about the gatekeeper deal just to keep the conversation going. You have three talking points and I think there's a pretty good chance that you can get to the right person. - David Carothers
“I think at the end of the day, all we need to worry about is what we're doing for these drops. Educate yourself. Go in there with questions prepared and you're gonna ultimately be successful.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast: The Protege, David Carothers interviews Brady Neal, President of CORROSOURCE. Brady talks about how he built his career in the insurance industry and the reason why he wanted to join Killing Commercial.
Episode Highlights:
Brady shares his background. (2:19)
Brady gives us some highlights on his career in law enforcement. (3:46)
Brady shares the lessons he’s learned in his career. (4:59)
Brady shares an unforgettable moment, being an investigator. (6:57)
Brady explains why he wanted to join Killing Commercial. (13:59)
Brady shares how law enforcement helped grow his confidence. (21:28)
What has been the biggest surprise for Brady through this process? (23:30)
Brady shares his biggest takeaway at this moment. (24:05)
Tweetable Quotes:
“You are who you are, and don't try to hide anything about who you are. Just tell your story, be authentic. I think that's gonna make you better in the end versus trying to create a story.” - Brady Neal
“What's caught me off guard is, I need to develop that relationship with the underwriter almost bigger than the relationship I have with a potential prospect.” - Brady Neal
“I needed that accountability to drive me and it has produced this accountability in me to take steps that I know I never would have taken unless I was challenged to do that.” - Brady Neal
Resources Mentioned:
Brady Neal LinkedIn
CORROSOURCE
David Carothers
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Scott Howell, CLCS, Agency Owner of iProtect Insurance & Financial Services, and Co-Host of The Insurance Guys Podcast. Scott announces the big news he has for the listeners and talks about his approach in the insurance industry.
Episode Highlights:
Scott mentions the breaking news he has for the listeners. (3:31)
Scott mentions the first thing he did when the VP of sales for the southeastern region had his assistant send him a letter. (12:48)
Scott shares what he used to tell Bradley when he first opened his independent agency. (14:18)
Scott shares what David said to him when he came on today’s podcast. (26:57)
Scott mentions one of the endearing things why people often listen to his podcast. (29:50)
What did Scott use to do before? (30:22)
Scott shares what's been the most rewarding thing for him. (37:01)
Scott mentions the only area that he excelled in since he was 16 years old. (49:36)
Scott gives a piece of advice to anybody that's in the insurance industry and a member of the Killing Commercial. (54:39)
Tweetable Quotes:
“It's been good, I've enjoyed it in a lot of ways. It was a lot more work than I anticipated and I don't think I would have gotten through it without having the people, my staff, and the team members that I have. It has been an up at dawn pride, swallowing siege every day.” - Scott Howell
“I'm very proud of the decisions and the people that we've hired and the direction of the agency. I think overall, I would say that's probably my proudest thing from last year.” - Scott Howell
“I feel so much better about myself on the drive home if in my mind. I know I did one thing today because if you do that every day for the whole year, you're gonna be a lot better at the end of the year than you were at the beginning.” - Scott Howell
Resources Mentioned:
Scott Howell LinkedIn
The Insurance Guys Podcast
iProtect Insurance & Financial Services
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss why a gatekeeper is one of the most significant people and why being indifferent is key.
Episode Highlights:
Kyle shares why it’s significant to quickly relate to a gatekeeper. (5:27)
Kyle mentions the crucial factors about gatekeepers. (5:50)
David mentions one thing he’s done in the past to a gatekeeper. (7:23)
Kyle explains why being indifferent is key. (10:16)
David shares a story about a man who works at Xeno Office Solution. (15:14)
David explains what is mirroring. (18:12)
David mentions why producers should record their calls. (24:45)
Tweetable Quotes:
“A lot of times when we're doing the jobs, we're trying to get that information from the gatekeeper. We've got to win them over and get them to like us in order to get that information.” - Kyle Houck
“You've got to be indifferent when you're having these conversations, especially when you're trying to get the information from the gatekeeper in regards to who you're supposed to speak with. - Kyle Houck
“I know it's true that the longer you can keep the conversation going, the better the chances you have of getting what you want done.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Josh Gurley, CIC, CWCA, Vice President of Commercial Insurance at Hunt-Miller Insurance Agency Inc. Josh discusses what the BOR is all about and why the insurance industry is a great business.
Episode Highlights:
Josh mentions that the BOR is one of the highest forms of flattery that you can get into business. (12:41)
Josh shares how he explains what a BOR is to someone. (13:43)
Josh mentions one of the things he did to prepare for this podcast. (16:03)
Josh shares a story about a man’s insurance work comp that was renewed three months ago. (16:15)
Josh mentions why the BOR has been helpful for people to reach their conclusion. (25:43)
Josh shares what he says to people when he talks about a great amount of property insurance. (42:12)
Josh explains why the insurance industry is a great business. (55:48)
Josh gives pieces of advice to the listeners. (1:05:47)
Tweetable Quotes:
“I think when you do that and lay out those reasons to have people fired, It's just a form of flattery. I think it's something that I have used throughout my career with great success.” - Josh Gurley
“I think just being that transparent person in saying these kinds of things to people and just cleaning up some things are really easy. Using the rules that are available to me like the tax code, it just makes it easier.” - Josh Gurley
“If there's a brand new person that listens to this podcast and you want to go produce a million dollars in revenue, then I would tell you the formula is pretty easy. There's a lot of ancillary and infrastructure stuff that as your agency grows you have to deal with. At the end of the day, it's just about talking to people and sharing your story with them and being a helpful person.” - Josh Gurley
Resources Mentioned:
Josh Gurley, CIC, CWCA LinkedIn
Hunt-Miller Insurance Agency Inc.
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Todd Thams, Founder of Mod Advisor, Direct Work Comp, and President of Thams Agency. Todd talks about how the Mod Advisor was born and gives a couple of advice to those who are new to Mod Advisor.
Episode Highlights:
Todd mentions how he came up with the idea to create the Mod Advisor. (5:42)
Todd mentions one of his biggest frustrations from building Mod Advisor. (14:33)
What are some tips and tricks that Todd would like to give to those who are new to the Mod Advisor? (26:53)
Todd mentions the demo he recorded when he first started Mod Advisor. (33:32)
Todd shares the slip and fall workbook they built. (37:03)
Todd shares why insurance shouldn't be this hard for the majority of businesses out there. (48:26)
Tweetable Quotes:
“ When somebody tells you you can't do something or it's not possible, I'm going to prove you wrong. Number one, I'm going to show you what can be done and I'm going to show you how I can do it.” - Todd Thams
“The best way to get better is when you compete with somebody who you perceive to be your equal. Then you went against them because you really had to sharpen your pencil and bring out all your tools to win against a formidable opponent.” - Todd Thams
“I think we need to change the dynamic of work comp a little bit anyway and not make it a four-letter word but, actually make it a positive experience. If we can actually help agents, help businesses, help their employees reduce claims, and provide a better experience in that process, I think it's a win for the entire industry.” - Todd Thams
Resources Mentioned:
Todd Thams LinkedIn
Mod Advisor
Direct Work Comp
Thams Agency
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss something that everybody should do when things get a little stereotyped and that is telemarketing tweaks.
Episode Highlights:
Kyle mentions his takeaways from listening to Marvin’s calls. (4:48)
Kyle shares the first piece of feedback. (6:53)
Kyle mentions one of the things he learned in one of his first sales jobs when he was doing the office supplies. (8:02)
Kyle shares why he would always use perfect or great whenever he would get an objection. (9:02)
Kyle mentions what he thinks a lot of people don't do in overcoming the objection part. (11:31)
Kyle explains why he wanted Marvin to utilize the feel, felt, found. (13:44)
Kyle mentions that the next step is to get Marvin qualifying businesses. (15:22)
Tweetable Quotes:
“The fact of the matter is that every once in a while you have to reinvent yourself a little bit to get back on track. I'd ask you to reach out to them and talk to them, give them a little framework to operate out of.” - David Carothers
“I think that if we make a few tweaks here and there that we can get better, you're doing something right. You're setting appointments, but we want to make sure they're the right appointments. We want to make sure that we can up that amount or volume that you're making more effectively.” - Kyle Houck
“The first thing that you need to do is whenever they give you an objection, say a power word. Something that's going to basically start you off on your rebuttal, but it’s not like a doubt word.” - Kyle Houck
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Rob Bowen Jr., Founder, and CEO of Patriotic Insurance Group. Rob talks about his transition from being in the military to the insurance industry and how the Suits for Soldiers program began.
Episode Highlights:
Rob mentions why you can’t build a niche in the captive world. (8:13)
Rob shares the huge advantage they have as an independent. (8:47)
Was Rob’s excess surplus due to the market up in their area? (14:54)
Rob explains what a scaffolding law is. (15:20)
Rob shares the biggest challenge he has experienced going into the independent channel. (22:02)
Rob mentions the most rewarding thing he experienced. (25:11)
Rob explains how his transition went from being in the military to being in the insurance industry. (31:38)
Rob shares how the Suits for Soldiers program started. (43:05)
Tweetable Quotes:
“I had a pretty good-sized book of excess surplus commercial business. We went independent in November and it had been rolling ever since trying to figure out this whole independent side. I've been talking to everyone I can and having people guide me through it but, it's been interesting. I love what I do and I think this industry has a lot of potential.” - Rob Bowen Jr.
“Every day is an adventure, you never know what's gonna happen every day. We're a pretty small agency and right now I'm still the head cook and chief bottle washer. The goal is to pull out of that as quickly as possible and have my team run it.” - Rob Bowen Jr.
“Veterans are coachable, trainable, they all went through boot camp. They might not have the exact skill set the civilian world is looking for but I'll hire a veteran any day because I know I can train him or her. Honestly, in today's world, they also know how to show up on time, that’s a hard thing for a lot of people.” - Rob Bowen Jr.
Resources Mentioned:
Rob Bowen Jr. LinkedIn
Patriotic Insurance Group
Suits for Soldiers
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Jason Verlinde, President of Verlinde Insurance Agency. Jason talks about his approach in the insurance industry and his take on social media marketing.
Episode Highlights:
Jason shares how he got into the insurance industry. (5:00)
Jason mentions how his career progressed after working at a power conditioning equipment manufacturer. (6:36)
Jason shares why training of account managers is a difficult task for smaller agencies. (18:03)
Jason explains how his career transitioned into the insurance world. (22:36)
How did Jason end up working with his father? (23:20)
Jason mentions the main reason he looks up to his father. (24:05)
Jason discusses regional carriers versus national carriers. (26:41)
Jason gives his take on social media marketing. (35:06)
Jason shares a story about the person he met at Brand Camp. (41:08)
Tweetable Quotes:
“If you’re trying to build that relationship and give them those value-added services upfront and say, ‘Okay, sign here.’ Well, we're not really doing that, because, for the most part, we’re starting with the markets that we have.” - Jason Verlinde
“Auto owners, the trips are great. We love the company we've been. We can track our history with auto owners all the way back to the 30’s through several different ownership situations here at the office.” - Jason Verlinde
“What I've started to do is try to take 10-15 minutes to scroll through that every day, and comment on things as the business. So, especially if you have one that has a lot of activity with other people commenting, you can get in there and you know, local people that see.” - Jason Verlinde
Resources Mentioned:
Jason Verlinde LinkedIn
Verlinde Insurance Agency
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss what are some of the worst questions that producers ask at the point of sale.
Episode Highlights:
David mentions one of the absolute worst things that any salesperson can do. (1:55)
David shares a story about a lady who loves to take meetings just to take meetings. (4:40)
Kyle mentions that asking what keeps them up at night about their business is a good question. (6:44)
Kyle mentions why some people go in with the wrong mentality and wrong mindset. (10:13)
David gives us another worst question which is, what's your premium? (11:06)
David shares a story about a large national brokerage house. (17:06)
Tweetable Quotes:
“If you just walk in there and ask for the pain points so you can sell them something, that's lame and weak.” - Kyle Houck
“When you're asking the questions such as, what are the things that keep you awake at night, you're listening to be able to give them a solution to that problem as opposed to selling them the product.” - David Carothers
“If there are deficiencies, it's just another wedge that I can drive. The wedge that I drove was the fact that I don't need to do business the way that everybody always does business.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview David Watson, Partner & Director of Sales at Mappus Insurance Agency, Inc. David talks about his idea of the risk advisor process and how it became a game-changer for their agency.
Episode Highlights:
David gives a short background of Mappus Insurance Agency. (3:49)
David shares how he transitioned from being in a captive world. (5:13)
David shares his career at Mappus Insurance Agency. (11:50)
David explains where his idea of risk advisor came from. (18:17)
David shares how it's been since the risk advisor process started. (21:09)
David mentions the changes that happened when they applied the process. (23:58)
What has been the biggest challenge for David going through that process? (25:27)
David shares the type of agency he’s looking for. (37:58)
David explains the PDFs they were working on. (49:49)
Tweetable Quotes:
“We were ahead of the curve from day one. There was still so much room for improvement to really make that process so much more streamlined.” - David Watson
“This has changed the game for us and changed the game for myself. Maybe this is something that can change the game for independent agencies everywhere.” - David Watson
“I have a long Trello board of ideas that are gonna be great things for agencies and users. We need to focus on those core products to get started with, and then go from there.” - David Watson
Resources Mentioned:
David Watson LinkedIn
Mappus Insurance Agency, Inc.
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Colin Kassekert and Josh Spivak, of Solvo Health. Josh and Colin talk about their expertise in the health insurance industry and what Highlight Health is all about.
Episode Highlights:
Josh mentions the Highlight Health product they created. (3:19)
Josh shares the problem with the health insurance industry. (10:24)
Josh explains what Highlight Health is all about. (13:26)
Josh mentions the type of coverage they have in Solvo Health. (19:01)
Colin shares his role in the company. (23:09)
Colin mentions the main factor that he wants to focus on. (24:50)
Colin shares the challenges they have on the PNC side. (29:19)
Tweetable Quotes:
“When we insert ourselves in with a broker partner and we insert ourselves in with an employer, we look for where we want to solve a problem. That's how great businesses are created.” - Josh Spivak
“I think that if you actually put the right packages in place, then you'll be able to attract and retain employees.” - Colin Kassekert
“When you look at the context of our platform, it's not for everybody. There's a lot of money to be made for everybody on this side of the table and there's a lot of value to be given for folks on the other side.” - Josh Spivak
Resources Mentioned:
Josh Spivak LinkedIn
Colin Kassekert LinkedIn
Solvo Health
Highlight Health
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by David Lefevre, Owner of SalesPWR. They discuss how to utilize your CRM for service functions in the agency.
Episode Highlights:
David Lefevre mentions that HubSpot comes with a generic CRM. (1:40)
David Carothers mentions what he likes about the way the service piece is done. (3:12)
David Lefevre shares some of the ways to utilize CRM from a service aspect. (6:51)
David Lefevre mentions why it’s significant to have a certificate of insurance. (7:32)
David Lefevre shares how to utilize chatbots. (9:30)
Tweetable Quotes:
“We want to drive client experience. We want people to realize that we do business differently.” - David Carothers
“You just got to think it through completely before you make that switch. If you think it through and it makes sense to do it, act on the endeavor to persevere and make it happen.” - David Lefevre
“I'm more than willing to spend a few minutes just throwing out ideas and sharing what I think might be a good route to go.” - David Lefevre
Resources Mentioned:
David Lefevre LinkedIn
SalesPWR
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Doug Benz, President of New Buffalo Insurance Agency, Inc. Doug talks about his journey in the business after joining Killing Commercial and the processes he has developed for the agency.
Episode Highlights:
Doug shares his background. (5:54)
Doug shares his success story of joining Killing Commercial. (11:48)
What’s the number one exposure businesses are facing right now? (16:40)
Doug mentions the factors involved if you want to charge a higher premium. (20:55)
What does Doug attribute his success and growth to? (29:02)
What's something that Doug has been frustrated by in the process? (29:47)
Doug shares that his wife is also working in the agency. (34:43)
Doug explains why learning how to deal with people plays a significant role in their industry. (43:20)
Doug mentions what he would love to see in the agency. (45:51)
Tweetable Quotes:
“Talking about the total cost of risk and doing mod analysis, and claims analysis, and other things just bring so much value to the client. That's been the coolest thing of this whole thing is that I feel like we've transformed in the service we provide, because we're doing so much for the client than maybe we were before.” - Doug Benz
“There is so much that can be done and there's so much technology now that we're all using, we can kind of share and bring that value to our clients. So, there's never been a better time to really help people out and offer that value-add.” - Doug Benz
“We're succeeding. We're growing our business and we're doing really well. But, it's not just a trick to sell more. It's a value-add that you're bringing to the client in a way that very few other people are doing, and it's what the client deserves.” - Doug Benz
Resources Mentioned:
Doug Benz LinkedIn
New Buffalo Insurance Agency, Inc.
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Colin Kassekert and Josh Spivak, of Solvo Health. Josh and Colin talk about their expertise in the health insurance industry and what Highlight Health is all about.
Episode Highlights:
Josh mentions the Highlight Health product they created. (3:19)
Josh shares the problem with the health insurance industry. (10:24)
Josh explains what Highlight Health is all about. (13:26)
Josh mentions the type of coverage they have in Solvo Health. (19:01)
Colin shares his role in the company. (23:09)
Colin mentions the main factor that he wants to focus on. (24:50)
Colin shares the challenges they have on the PNC side. (29:19)
Tweetable Quotes:
“When we insert ourselves in with a broker partner and we insert ourselves in with an employer, we look for where we want to solve a problem. That's how great businesses are created.” - Josh Spivak
“I think that if you actually put the right packages in place, then you'll be able to attract and retain employees.” - Colin Kassekert
“When you look at the context of our platform, it's not for everybody. There's a lot of money to be made for everybody on this side of the table and there's a lot of value to be given for folks on the other side.” - Josh Spivak
Resources Mentioned:
Josh Spivak LinkedIn
Colin Kassekert LinkedIn
Solvo Health
Highlight Health
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by David Lefevre, Owner of SalesPWR. They discuss how any CRM begins to take action through marketing automation, workflows, and sequences.
Episode Highlights:
David Lefevre shares what marketing automation is. (5:01)
David Carothers mentions who Christian Delozier is. (6:41)
David Lefevre shares how to take advantage of the data that you have in your CRM. (8:09)
David Lefevre explains what happens if you don't have a plan or process on how to communicate. (11:16)
David Carothers mentions the most significant process in CRM. (12:25)
What are some of the easy CRM processes that people can do to implement marketing? (19:24)
Tweetable Quotes:
“If you've segmented your audience and planned how you want to communicate with the people in your database, whether they're clients, prospects, leads, whether they filled out a form or not, whether they live in Cincinnati, or they live in Tampa, Florida, you can automate communication to say what you want, when you want.” - David Lefevre
“If you don't have a process or have a plan, you're not going to find it comfortable. You’ll use pieces here but you got to build up to it.” - David Lefevre
“Those people on the other end of your communication are able to do things in their own time, without having to have you on the phone or have you in front of them where you've got to connect in order for things to happen.” - David Lefevre
Resources Mentioned:
David Lefevre LinkedIn
SalesPWR
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Angel Rojas, CEO of DataCorps Technology Solutions, Inc. Angel discusses what cybersecurity is all about and the five best practices that every business should implement.
Episode Highlights:
Angel shares his background. (2:10)
Angel shares what he sees in the current marketplace. (9:58)
Angel mentions what is a ransomware attack. (10:45)
Angel explains the five best practices that every business should implement. (13:56)
Angel shares a story about a client that got hit by a ransomware event. (17:46)
Angel mentions the five-step process of the Cybersecurity Framework. (20:51)
Angel shares how to think differently about how you do things. (34:42)
Angel shares his experience working with the FBI and the Secret Service. (37:54)
Angel explains why there should be more collaboration within their industry. (48:14)
Tweetable Quotes:
“The most important thing I do is to help you see around the corners by making sure you're focused on what you do and focused on serving your clients. I focus on helping you see what's around the corners with your technology and also see where I can add value like. Adding value by being on the podcast and helping you share some of the cyber perspectives on insurance.” - Angel Rojas
“Let's take all the sins that we committed last year and let's just accept the fact that we committed them. Then let's just start cleaning up all the mess that's left behind.” - Angel Rojas
“Sometimes you have to dig through the network and find those answers. At the end of the day, the very first thing you need to do is perform that risk assessment and decide that you've got a problem. If you don't know that you don't have the problem, you have the problem. That's just non-negotiable.” - Angel Rojas
Resources Mentioned:
Angel Rojas LinkedIn
DataCorps Technology Solutions, Inc.
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Rob Stansbury, Director of Sales at KPA. Rob talks about everything we need to know about KPA and the tools they’ve designed.
Episode Highlights:
Rob shares his background. (2:27)
Rob mentions what they do at KPA. (5:41)
Rob explains why certificate monitoring could be huge leverage. (11:17)
Rob explains some of the tools they’ve designed. (16:26)
Rob mentions one of the areas that producers are not engaging in. (22:14)
Rob shares one of the unique things about KPA. (36:44)
Rob explains why it’s so important to understand different mindsets at the employer level. (44:18)
Tweetable Quotes:
“There are tools out there that are intended for brokers to use for growth purposes, for marketing purposes. And, we certainly engage in that way with our broker clients. But, at heart, we're an employer too.” - Rob Stansbury
“So in today's market, where you're delivering premiums that are higher than they were the year before... if you can offset that or mitigate that by potentially reducing an existing third party spend, there's another gold star in a corner of the broker for being able to do so.” - Rob Stansbury
“I wish more brokers were out there talking about not just experienced mod work comp, but also, the compliance from a regulatory perspective for these businesses because it's a goldmine.” - Rob Stansbury
Resources Mentioned:
Rob Stansbury LinkedIn
KPA
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by David Lefevre, Owner of SalesPWR. They continue to discuss all about CRM and why the workers’ comp expiration date is significant.
Episode Highlights:
David Lefevre shares what makes CRM work for the business itself. (1:44)
David Lefevre mentions one of the things they did in HubSpot. (5:44)
How much is too much, for David Lefevre? (8:02)
David Lefevre shares why the workers’ comp expiration date is one of the most significant pieces of data. (10:50)
David Lefevre explains why you need to capture and utilize what's critical to your business. (12:57)
Tweetable Quotes:
“What really makes a CRM work is how you look at the information and the views that you have. It's all about lists, views, and being able to ask yourself a question with one click of a button and get an answer.” - David Lefevre
“You want to be able to create that product and performance improvement by just being able to click things. Views are the way you do that.” - David Lefevre
“You don't want to overwhelm yourself with so much detail that you get lost. It's nice to have information at your fingertips. You always have to judge whether it's a one-off, whether it's nice to have, or whether it's integral to your business process.” - David Lefevre
Resources Mentioned:
David Lefevre LinkedIn
SalesPWR
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Jess Dantice, CEO and Founder of Zenjuries. Jess talks about the benefits of utilizing the software he created and why workers’ comp is an incredible insurance product.
Episode Highlights:
Jess shares his background. (2:11)
Jess mentions the program he created called Minesweeper. (8:33)
Jess shares the most expensive and the most dimly viewed policy by a policyholder. (9:41)
Jess shares the relevance of creating a work comp claim product software. (13:25)
How did the agencies benefit from the software that Jess created? (17:51)
Jess shares why insurance is a sales organization with a service obligation. (34:42)
Jess mentions one of the biggest problems of workers comp. (37:12)
Tweetable Quotes:
“Me being in the insurance industry is really, really cool in lots of ways and you meet a lot of cool people. I was always commercial and had a heavy hand in the contractors’ side of things. You end up learning a lot by being in this industry.” - Jess Dantice
“If you really truly want a better outcome, you have to do something different. There's only so much white-knuckling you can do to have an impact on anyone's claim by yourself..” - Jess Dantice
“There's a lot of dynamics that go into workers comp and you have to engage that ground zero. You can't just hand it off to an adjuster and think it's gonna go well and they're just gonna pay the bills. That's what happens in the traditional world but that's not how you're going to move the needle.” - Jess Dantice
Resources Mentioned:
Jess Dantice LinkedIn
Zenjuries
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Kevin Ring, CWCA, MWCA, lead analyst with the Institute of WorkComp Professionals. Kevin talks about all things workers' compensation and the significance of having a process.
Episode Highlights:
Kevin shares his background. (2:15)
Kevin shares one of his favorite stories in the insurance industry. (5:41)
Kevin mentions one of the psychological benefits of the sales process. (11:12)
How much of a direct correlation does Kevin look at when it comes to benefits versus comp? (15:02)
Kevin shares the other factors about benefits. (18:40)
Kevin explains why finding a good doctor is very critical. (27:10)
Kevin mentions the significance of having a process. (46:11)
Tweetable Quotes:
“In a perfect world, you take the comp first before you take the rest of the account. You can show the results with comp that you can create in a way that is dramatically different from any other type of insurance.” - Kevin Ring
“Insurance buyers and insurance agents have been trained that your comp, is comp, is comp and there's nothing to do about it. This leads to a tremendous opportunity for agents who understand how worker's compensation works to go in and if you can get the whole thing it's fantastic.” - Kevin Ring
“We're big believers in the idea that you're communicating this upfront. It helps take some of the fear out of the workers’ comp system while also making it very clear that workers comp is not there to be taken advantage of.” - Kevin Ring
Resources Mentioned:
Kevin Ring, CWCA, MWCA LinkedIn
Institute of WorkComp Professionals
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by David Lefevre, Owner of SalesPWR. They continue to discuss what CRM is all about and what kind of customizations an agency principal is looking for.
Episode Highlights:
David Carothers shares what an agency principal must look at when it comes to CRM systems. (4:25)
David Lefevre mentions the new name of Infusionsoft. (7:40)
David Lefevre explains what all of the CRMs have in common. (8:01)
David Lefevre shares why you must do account based selling. (9:59)
David Carothers shares where he sees most people fall short. (14:08)
David Carothers mentions one of the most basic things to do when you're in a meeting. (16:23)
David Lefevre mentions a tool that’s utilized in Salesforce. (22:45)
Tweetable Quotes:
“If you want to make your business fit their technology then that's great. Realize there may be things that you do that you're going to have to change simply because their system is not set up to work the way that you work.” - David Lefevre
“Trying to make sure that you capture as many people as you can in that decision making circle. Gathering that information making sure that you have those names, contacts, and emails because you may not always be able to get in and talk to the CFO.” - David Lefevre
“You need to be looking at it as, how am I saving money in terms of hours and labor. Am I able to improve the sales that I make? Instead of closing five new clients last month, am I able to add a client every month on average and basically pay for the software and then some? That's how you can look at how you're paying for it.” - David Lefevre
Resources Mentioned:
David Lefevre LinkedIn
SalesPWR
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Jim Effner, President and CEO of P2P Group, Inc. Jim discusses what drove him to start P2P and what PNC is all about.
Episode Highlights:
Jim shares his career background. (2:03)
What led Jim to start P2P? (3:53)
Jim shares why he doesn’t want to convince anybody to attend one of his workshops. (7:55)
Jim explains the format of his workshops and how it has developed over the years. (11:18)
Jim mentions why PNC agents don’t sell life insurance. (15:32)
Jim shares his thoughts on why PNC agents don’t get involved in life insurance sales. (23:26)
Jim gives significant information about PNC customers. (26:23)
Jim mentions one of the pain points for the PNC agent. (32:27)
What's the easy way for PNC agents to begin a conversation with a client? (34:51)
Tweetable Quotes:
“I make sure that when I do say yes, it's almost like a habit. I'm doing what I love doing and I couldn't do what I do today without what I did in the past. I have zero regrets but I'm in a good spot right now.” - Jim Effner
“The people that show up to our workshops are people that come with an open mind that are willing to invest both their money and their time. They desire to grow. They have a desire to get better. They have a desire to maximize the potential that they know is out there.” - Jim Effner
“When I open up every workshop, I'm very crystal clear with them to say that every single one of them has the same barrier. The same barrier they have is their fear and the inherent fear that they have is the fear of what other people think of them.” - Jim Effner
Resources Mentioned:
Jim Effner LinkedIn
P2P Group, Inc.
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Kelly Donahue-Piro, President at Agency Performance Partners. Kelly talks about the things that Agency Performance Partners is doing in agencies across the country.
Episode Highlights:
Kelly shares her background. (2:19)
What's one of the common themes that Kelly sees that she has the ability to fix? (4:53)
Kelly mentions why she generally works with agencies in the younger age bracket. (7:42)
Kelly mentions one factor about having the children come to work. (17:54)
Kelly shares the online process packs that they offer. (19:46)
Kelly mentions why she loves personal lines. (23:42)
Kelly explains why the CSR role is becoming extinct in service. (25:51)
Kelly gives her opinion about overstaffing. (36:48)
Out of all the things that Kelly does, what's her favorite? (38:45)
Kelly shares why they see a huge decrease in re-shopping. (46:56)
Tweetable Quotes:
“You need to have routine meetings with your team, even if it's just to check in to say hi and see how people are doing. When there's a void of that, it gets really bad. The culture falls apart pretty easily.” - Kelly Donahue-Piro
“You need to clarify your perpetuation plan and be fair to the kids and the kids need to respect what you've built. There has to be a plan of how you're going to give up that power.” - Kelly Donahue-Piro
“I would encourage every agency to really stop and work hard on saying, what are the gaps in our agency? What experience do we want to get? I think so many people get that tunnel vision, you're in your agency so much. Sometimes you don't see some of the gaps out there.” - Kelly Donahue-Piro
Resources Mentioned:
Kelly Donahue-Piro LinkedIn
Agency Performance Partners
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by David Lefevre, Owner of SalesPWR. They continue to discuss the basics of CRM and how to bring a CRM to your insurance agency.
Episode Highlights:
David Lefevre shares the first thing to do when bringing a CRM to your insurance agency. (1:42)
David Lefevre explains why it’s significant to have companies and contacts if you're doing commercial lines. (2:29)
David Carothers shares why his VA has been helpful in his agency. (5:19)
David Lefevre shares one of the things they did when they put the companies in. (6:53)
David Carothers mentions what he didn’t realize about HubSpot. (8:49)
David Lefevre shares why a lot of people misunderstood marketing automation and CRM. (10:42)
David Lefevre gives the steps in bringing a CRM to your company. (17:27)
David Carothers shares why people must determine what lines of coverage they’re going to represent everybody. (22:46)
Tweetable Quotes:
“The first thing is knowing what your business is doing and whether you need to sell commercial lines with companies and contacts, or whether you can get away with personal lines and just work with a CRM that doesn't do companies.” - David Lefevre
“This is a great computer that you can do a lot with. Obviously you want it to work with the CRM and be able to maintain all the information you need about your prospects, leads, and clients.” - David Lefevre
“Always lead by example because agents see owners or lead producers who are running a team. If you're not doing what you're asking your people to do, it's really discouraging. They may go in and look at a company or a contact and they're gonna see that you're not doing what you are asking them to do.” - David Lefevre
Resources Mentioned:
David Lefevre LinkedIn
SalesPWR
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Brian Thorton, President of ProWriters. Brian talks about the huge issues in their industry and some misinformation about cyber insurance.
Episode Highlights:
Brian shares his background. (2:19)
Brian mentions one of the big issues in their industry. (10:13)
Brian mentions one of the most critical pieces of the coverage. (12:29)
Brian shares the guiding principle about what they did with the platform. (17:57)
What are the push backs they get from their agents? (25:02)
Brian shares why construction companies are a target for cyber. (34:19)
What’s the main thing that people need to keep in mind when they're shopping for cyber insurance? (38:31)
Tweetable Quotes:
“I think the underwriters are certainly doing a better job of looking for MSPs and saying that quick decline. This is adding another challenge to the market.” - Brian Thorton
“Even if the data comes in and it does an auto quote and everything looks fine, we still have someone go out, look at it and review it for accuracy.” - Brian Thorton
“If we have to spend a lot of time talking about individual risks with newer brokers that we've brought on, we just view that as kind of an investment in the relationship and in training them.” - Brian Thorton
Resources Mentioned:
Brian Thorton LinkedIn
ProWriters
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Ryan Deeds, Product Owner of Ennabl. Ryan talks about the significance of data in agencies and what Ennabl is all about.
Episode Highlights:
Ryan mentions his previous job at Assurex. (2:48)
What data does Ryan think is significant? (6:06)
Ryan mentions why insurance data is interesting. (6:50)
Ryan shares how data becomes a problem. (11:40)
Ryan mentions why larger agencies look at technology as an investment. (22:57)
Ryan shares the primary goal of a CRM. (26:49)
Ryan shares what Ennabl is all about. (41:37)
Tweetable Quotes:
“Growth is massively complicated because growth is not what we generally would think it would be. There are five different elements to growth in an agency and they're hard to distill out from the data.” - Ryan Deeds
“If you're a 60-year-old person waiting for the highest multiple ever on exit, you're not going to reinvest the amount you need to to make that technology effective over the next five years. Sit on your stuff and wait till you exit and get out. Don't frustrate yourself trying to be something that you're not.” - Ryan Deeds
“As an implementer of technology, my biggest pain point is just having individuals not understand that dynamic. Training is not a one-time thing, you're not going to brand software by sitting somebody down.” - Ryan Deeds
Resources Mentioned:
Ryan Deeds LinkedIn
Ennabl
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by David Lefevre, Owner of SalesPWR. They discuss what CRM is all about and why people should utilize it.
Episode Highlights:
David Lefevre explains what a CRM is. (3:59)
David Carothers shares how CRM has changed. (5:31)
David Lefevre shares why marketing is one aspect of communication. (6:38)
David Lefevre mentions what they’re doing at Florida Risk. (7:43)
David Carothers mentions the problem with AMS and CRM. (8:54)
David Carothers shares which CRM people should use. (11:27)
David Lefevre shares why people should utilize CRM. (16:26)
Tweetable Quotes:
“The more clients you have, the more you're going to forget. We all know that customer service is king. Meaning, staying on top of your customers and knowing ahead of time what their needs are.” - David Lefevre
“Marketing is one aspect of communication. Agency management systems are designed around doing business for an agency. They're not intended to be marketing communication tools.” - David Lefevre
“If you don't put good information in, you can't get good information out of it. The whole reason you have this is to get good information out.” - David Lefevre
Resources Mentioned:
David Lefevre LinkedIn
SalesPWR
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Aron Robertson, Owner of The Robertson Insurance Group. Aron talks about his journey in the insurance industry and the lessons he learned in the Marine Corps.
Episode Highlights:
Aron shares his background. (1:55)
Aron shares the biggest lesson he learned from being a door-to-door salesman. (5:42)
Aron mentions what Aflac has shown him. (11:49)
Aron explains what Work Opportunity Tax Credits are. (18:37)
Aron shares his experience with “no solicitation” signs. (23:58)
Aron shares a story about his life being surrounded by Marines in his family. (31:03)
Aron mentions the lessons he learned in the Marine Corps. (34:32)
What’s the biggest challenge that Aron faced when he opened his agency? (35:54)
Aron mentions the lesson he learned from claims. (43:56)
What does Aron’s tech stack look like in their agency? (45:21)
Tweetable Quotes:
“Never in my life would I ever conceive that I've ever made six figures in my life. I realized pretty quickly that I am the commodity, not the product. The relationship I build with my clients is what they're trying to buy. It's not the product.” - Aron Robertson
“I'm very thankful for the Aflac knowledge that I got, I don't regret one day I spent with them. I just decided I had to kind of reinvent myself and my agency to solve more problems.” - Aron Robertson
“I think the hardest thing is learning things that I need to do now, I need to do soon, and I need to get done eventually. Eventually is profitable in 10 years, the now is profitable. I got to do that now to create a good foundation for my agency to be successful long term.” - Aron Robertson
Resources Mentioned:
Aron Robertson LinkedIn
The Robertson Insurance Group
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers interviews Bryan Bergjans, National Director of Military & Veteran Lending at Caliber Home Loans. Bryan talks about what Caliber is doing for military personnel and veterans during COVID-19 and how Caliber works to bridge the home loan education gap with community outreach. Bryan also discusses why it is important to think outside the box, expand your commitment, and message through organizations that are outside your industry.
Episode Highlights: Bryan shares what Caliber Home Loans is all about. (3:15)
Bryan shares that Caliber started military and veteran lending 4 years ago. (4:23)
Tells why it is important for us to think outside the box, expand our commitment, and message through organizations. (6:34)
Bryan shares his interesting history with the military. (9:11)
Bryan thinks that the reality of VA borrowers and clients were kind of aligned with FHA. (9:40)
Bryan says that credit scores, credit profiles, and financial management are extremely important. (10:37)
How did Bryan match up those numbers of customers a decade ago? (12:04)
What is Bryan’s role specifically in Caliber? (12:40)
Bryan talks about the big Veterans Day they do for the reservist every end of the year. (14:01)
Bryan talks about the goal of his team. (14:37)
What does Caliber do to help their current customers? (16:13)
Bryan talks about why banks are in a bad situation. (25:52)
What are the two things that Bryan can think of that everybody should know right now, and the best way for the locals to get hold of the people from Caliber to get whatever help they can give? (27:39)
Bryan says that if you’re impacted by COVID, then you have to reach out to your servicer if you think that you’re not going to be able to make your payment. (27:54)
3 Key Points: Bryan’s team does partner up with active-duty military components, and our caliber locations together doing community stuff, and some of our marketplaces.
Caliber focuses to ensure that all the customers that are having problems and impacted by COVID are able to stay in their houses.
Bryan says that they have built their business strategy around the education of their clients, loan consultants, underwriters, processors, and business partners – calling it community engagement through education.
Tweetable Quotes “Make sure you’re making good financial decisions, make sure you’re not putting yourself in a bad position financially.” – Bryan Bergjans
“If you’ve never said thank you to one of the vets that work here, it’s hard to go out into the marketplace, and say we’re open for business for military, and veterans.” – Bryan Bergjans
“Call and talk to somebody first, before you decide to pull the trigger on something.” – Bryan Bergjans
“There’s always a consequence to every decision you make.” – Bryan Bergjans
Resources Mentioned: David Carothers LinkedIn
Bryan Bergjans LinkedIn
Caliber Home Loans
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss how to make passive income in their agencies through utilizing a quote, bind, and issuing products.
Episode Highlights:
David mentions why his week flew by fast. (1:51)
David shares why he wanted to discuss passive revenue streams. (2:26)
David mentions their webinars. (2:45)
David mentions his experience with wedding insurance. (3:28)
David shares the product they launched. (6:05)
David shares what they talked about at their recent webinar. (10:40)
Tweetable Quotes:
“I think by and large, the insurance companies freaked a little bit. You couldn’t even buy life insurance from some people because they wanted to see what's going to happen with the pandemic.” - David Carothers
“As long as the revenue coming in is more than what I'm spending to send the traffic to the ad page, everybody else is out buying leads or paying for leads. I'm getting paid for my personal lines leads, period.” - David Carothers
“If we use our approach and our knowledge as independent agents to give the buyer education on that buyer’s journey, they're not just going to a website to buy a product that they don't understand. Helping them make that decision through education, they're not going to go to a call center to buy that stuff. They're going to come back.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Trace Meek, TRS, Chief Executive Officer, and Founder at Fetch! Underwriting Made Easy. Trace talks about his ideas in building the business and the system they have at Fetch!.
Episode Highlights:
Trace shares his background. (2:08)
Is Trace actively working in the agency? (5:55)
Trace shares how his business started. (8:46)
Is Trace’s business available in all 50 states? (12:00)
Trace explains how agents utilize their systems. (15:21)
Trace shares the feedback he’s been hearing from the users. (18:42)
How many more users does Trace have the opportunity to pick up in Florida? (20:07)
Trace mentions the difference between them and a rater. (22:40)
Trace shares what Fetch! is all about. (31:30)
Tweetable Quotes:
“The amount of scenarios that our system can search, people don't even believe it. If you take how many possible scenarios you can get from our system, it's in the trillions that you could possibly make.” - Trace Meek, TRS
“As an agency owner, dealing with producers and understanding this process being as simple as possible was really important. We took a very complicated system and made it simple on the front end for the user.” - Trace Meek, TRS
“What makes our system just so much simpler is that we do a lot of the research for you and make sure that the answer is correct. If it's not, we go and try to hunt it down and find out why.” - Trace Meek, TRS
Resources Mentioned:
Trace Meek, TRS LinkedIn
Fetch! Underwriting Made Easy
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Simon Severino, CEO of Strategy Sprints GmbH. Simon talks about why they work best with high ticket B2B office and what Strategy Sprints is all about.
Episode Highlights:
Simon shares his background. (2:34)
What’s Simon’s favorite template that he created? (5:37)
Simon shares how their system has been helpful. (9:13)
Simon explains how they came up with the name Strategy Sprints. (14:38)
Simon shares one of the biggest mistakes of a company that utilizes their services. (16:32)
What kind of data is Simon looking for? (18:27)
Simon shares why HubSpot and Salesforce are helpful tools. (21:18)
What are some of the business websites that people should be looking at to optimize? (24:10)
Simon explains how the long sales cycle in B2B complex sales has evolved. (30:33)
Simon gives more knowledge about Strategy Sprints. (43:57)
Tweetable Quotes:
“Finding the right things that are working for you and doubling down on what you have cut from that one part. You are already good at that now. Your doubling efforts and budget will outperform them.” - Simon Severino
“A complaint is wonderful. If I catch it before the customer catches it, a complaint is wonderful if I can catch it quickly and turn that into a magic moment.If it's too late, then a complaint is a viral error.” - Simon Severino
“Don't go for fancy, go for effective. Effective tells you three to five numbers in marketing of sales and operations.” - Simon Severino
Resources Mentioned:
Simon Severino LinkedIn
Strategy Sprints GmbH
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss budget and people’s budget specifically as it stands for the sales process.
Episode Highlights:
David mentions why infrared thermal scanners are significant. (2:58)
Does David think that agencies must have a yearly budget on the middle market or look at it on just a case by case scenario? (5:28)
David shares why producers must also be looking at the budget as well. (5:43)
David mentions one of the reasons why he likes the service fee model. (6:56)
David shares some of the factors that alluded after the client is onboarded and where he spends the loss control. (7:36)
David mentions why producers must remain engaged in the account instead of walking away and letting the account manager handle it. (8:59)
David explains why it’s significant to have a level of commitment. (13:41)
Tweetable Quotes:
“I've always brought in resources on the front end on larger accounts because most of the time, that's the only way you're gonna get the deal done.” - David Carothers
“My personal compensation was never effected by what I made in the loss control budget. I raised the fee by enough to cover what I needed to make and make sure that we were collecting what we needed to collect.” - David Carothers
“Do your budgets in order, get your bank account in order, go through that statement. Get rid of the crap you're not using and use the stuff you think you should.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Steve Anderson and Carey Wallace, of Catalyit. Steve and Carey discuss all the tech guidance that agencies need, and what Catalyit is all about.
Episode Highlights:
Steve shares his background. (3:11)
Carey shares how she and Steve got involved in the project. (7:00)
Carey mentions a group of associations that came together about three years ago. (10:13)
Steve shares where his ideas came from. (13:06)
Steve mentions the four processes on how to be the go-to resource for independent agents in technology. (15:22)
Steve explains the process of the assessment at Catalyit. (19:18)
Steve shares the two types of demos they have. (30:55)
Steve mentions one of the factors about Catalyit. (36:39)
Tweetable Quotes:
“If you don't have someone focused on marketing and you put a tool in place, you're not able to actually utilize the tool. You will feel like you spent a lot of time, money, and energy on something that doesn't make sense. Starting with an assessment to actually evaluate that to me is one of the key parts of Catalyit that doesn't exist when you're trying to navigate it on your own.” - Carey Wallace
“I don't make decisions for agencies, but my goal is to get them all the information they need to make the best decision for their agency. The management system is a huge, big decision. The same process applies regardless of what problem you're trying to find a solution for.” - Steve Anderson
“Agents now have a really difficult time figuring out what's out there and what they should bring into their organization. They deserve an independent voice to help them make those decisions .Catalyit has processes and procedures in place to help them do that.” - Steve Anderson
Resources Mentioned:
Steve Anderson LinkedIn
Carey Wallace LinkedIn
Catalyit
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Joy Justus, SVP, Customer Experience at ThinkHR. Joy talks about her journey in the learning management system and her favorite wins at ThinkHR.
Episode Highlights:
Joy shares her background in the insurance industry. (2:06)
Joy mentions her current role at ThinkHR. (2:44)
Joy shares how her insurance background is going to help her position with ThinkHR. (3:32)
Joy mentions why learning the management system and content are what keeps people around. (8:04)
Joy explains what’s unique about their handbook. (11:41)
Joy gives an idea of what people should expect from ThinkHR. (16:54)
What does Joy find to be the biggest hurdle that agencies have in getting their clients to adopt their platform? (18:43)
Joy shares what a best-in-class onboarding process for ThinkHR looks like. (22:16)
Joy mentions some of her favorite wins at ThinkHR. (32:40)
What's the most creative way that Joy has seen somebody win a piece of business using their product? (33:43)
Tweetable Quotes:
“We are committed to innovation. It is driven by the feedback from our partners and what's going on out in the marketplace. We are trying to stay steps ahead of what we're seeing in terms of trends.” - Joy Justus
“I think people feel like they have the ability to talk to someone and an expert advisor's capacity is important. What keeps people around is truly the learning management system and the content.” - Joy Justus
“I always tell agents, you don't want to sit up on the shelf, bake this into your renewal process. Your clients listen to you not the third party partner. If you're not reinstalling, reeducating, and refamiliarizing your clients at mid-years, you need to be doing that.” - Joy Justus
Resources Mentioned:
Joy Justus LinkedIn
ThinkHR
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about the different stages of the sales process.
Episode Highlights:
David shares a story about an agency that he’s working with that has a new producer. (2:44)
David mentions the purpose of having stages of the sales process. (3:38)
David shares the stages of their sales process. (6:56)
Kyle mentions one of the huge factors when it’s lost. (8:32)
David mentions what to do when the policy comes time to renew. (19:34)
Tweetable Quotes:
“ If you look at how it works, I suspect when I go in and talk to them and get them to turn into a prospect, the first meeting is the fact-finding. My only goal from that first meeting is to get them to commit, to give us information and to book the second meeting.” David Carothers
If you're going to close on that first appointment, there's something else behind the scene that you don't know everything about.” - Kyle Houck
“I just think that if people understood how easy it is to sell insurance when you're not selling insurance, everybody wouldn't be doing it.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Emilio Figueroa, Chief Insurance Officer at Foresight Commercial Insurance. Emilio talks about how they engage people in utilizing their technology and their focus in the middle market.
Episode Highlights:
Emilio mentions what Foresight is. (1:49)
What does Emilio mean by ‘foundational technology’? (2:34)
Emilio shares some of the pieces that go into the risk score. (4:01)
Emilio shares how they engage people in utilizing their technology. (9:39)
Emilio mentions the states in the southwest that they’re writing in, currently. (16:54)
Emilio shares the industries that they focus on. (17:59)
Emilio shares the relationship between the broker and the insured. (20:58)
When somebody uses Emilio’s company for their workers’ compensation, how is the premium determined each month? (23:23)
Emilio shares how they help startup agencies. (27:23)
Emilio gives mores information about Foresight. (33:11)
Tweetable Quotes:
“By being able to change the company culture behind how they see risk management, even if they have a risk management team internally, you know, they're usually set on having legacy ways of doing safety meetings on a Monday morning. We try to change that based on what's available.” - Emilio Figueroa
“We're looking at engagement. If you engage, great. You're gonna be best in class. You're gonna see a historical, lower free internet frequency, and then you'll have a lower experience mode, and you'll get a better rate.” - Emilio Figueroa
“For us, it's attacking it on a three prong level directly. You know, from our customer engagement and risk management teams, from the broker level, and then from the insurance level.” - Emilio Figueroa
Resources Mentioned:
Emilio Figueroa LinkedIn
Foresight Commercial Insurance
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Jason Cass, Owner of Agency intelligence and managing partner at the Insurance Alliance. Jason talks about associations and the conversations he had with Billy Williams.
Episode Highlights:
Jason mentions why the Big I has been a huge part of his career. (4:51)
Jason shares his experience playing golf with Billy Williams. (21:52))
Jason mentions the three factors that Billy Williams said to him about relationships. (26:32)
Jason shares how to set expectations. (32:38)
Jason explains what ST4S is. (33:49)
Jason shares what Agency Intelligence Podcast Network is all about. (37:23)
Jason shares the upcoming AI Brainshare in San Antonio. (51:11)
Tweetable Quotes:
“When you say setting that expectation, the best way to teach is the best way it is understood. Sometimes, the best way to sell is the best way that it's taken.” - Jason Cass
“I think that when you're trying to place people there, sometimes that's hard. Sometimes it's really easy but I think that you can look at your own self, right? You can say that if birds flock together, who am I hanging around with? What am I doing? I want that picture that I eventually create to not have a ton of people on it. I noticed that I have specific people in my life for specific reasons.” - Jason Cass
“I think that we need to be more open and I think one of the things we can do that's very simple is when we decide we're going to hire, we're going to make sure that we're going to at least interview. We didn't say we had to hire them, we're just going to at least interview them.” - Jason Cass
Resources Mentioned:
Jason Cass LinkedIn
Agency intelligence
Insurance Alliance
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about the different stages a company goes through in the buyer’s journey and the new business appointment they had.
Episode Highlights:
David mentions his visit to Brunswick, Georgia. (1:26)
David shares a story about the new business appointment he had. (3:07)
What would David’s approach be if the client’s mod was jacked with the renewal coming out? (14:11)
David shares one of the things that the client said to him. (13:34)
David gives a piece of advice. (20:14)
Tweetable Quotes:
“You have to understand something fellas. When we sell, it's not based on the policies or on the insurance. There are times that I go in a month after renewal, there are times that I go in a month before renewal. It's really whenever I have the ability to engage.” - David Carothers
“I think sometimes I take it for granted how much experience has taught me. I’m not the smartest dude in the world, I can just recognize things because I've been in so many situations over my time, in the industry.” - David Carothers
“The level of patience that you have to have at 50 grand in revenue is completely different than the level of patience you have to have at five or 10. So I am 100% confident that I will write this account. I'm 100% confident that I will do it on their timeline, and I'm also 100% confident that I will be compliant with their request to do it on their timeline.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Khuram Hussain, CEO and Founder of 20 Miles Inc. Khuram talks about his approach in the insurance industry and the significance of following systems.
Episode Highlights:
Khuram shares his background. (2:44)
What attracted Khuram to commercial insurance producers? (6:35)
What has been the biggest challenge for Khuram? (16:51)
Khuram mentions what he heard from larger agency management systems. (22:34)
Khuram explains the story behind his company's name. (27:26)
Khuram shares why being systematic is key. (32:19)
Khuram gives a piece of advice to an agency principal that wants his software. (37:34)
Khuram mentions the best single strategy to start with. (40:08)
Tweetable Quotes:
“We don't think in terms of campaigns because that's like spray and pray, right? You send out a campaign and tracking opens, that's not relationship building. What we do talk about or think about is our processes. What we want you to do is establish some systems that are kind of like your framework.” - Khuram Hussain
“What you have to differentiate is your insights, your expertise. You have to tell the customer that you are the person that they want to be talking and doing business with. Build a rapport and pick up the phone, that will be an entirely different conversation.” - Khuram Hussain
“From a technology perspective, what we do with onboarding is we make sure that we support you all the way until you get your first success. I think that's important.” - Khuram Hussain
Resources Mentioned:
Khuram Hussain LinkedIn
20 Miles Inc
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interviews Erik Garcia, CFP®, President at Garcia Financial Group, and Dr. Matt Morris, LPC, LMFT, Counselor and Therapist at Matt Morris & Associates. They discuss their knowledge on relationships, money, and their podcast called Building Us Podcast.
Episode Highlights:
Matt gives a short background about relationship theory. (11:37)
Matt shares why it’s significant to your family to discuss money. (17:09)
Erik mentions a study about children and money. (18:20)
Matt shares his experience working with Erik. (25:27)
Erik mentions their podcast episode called The Next Normal. (26:51)
Erik shares why collaborating with Matt over the years has been helpful. (32:06)
Matt mentions one of the findings from the Millionaire Next Door. (39:10)
Erik shares their podcast called Building Us Podcast. (47:56)
Tweetable Quotes:
“I cannot earn you the same rate of return that you potentially can earn in your small business but if we believe in diversification and all these foundational investment principles, then it's prudent. It's good stewardship to have something outside not have all your money tied up in one entity.” - Erik Garcia, CFP®
“Money is a source of joy and of stress for many relationships. Think of money as being the number one cause of friction and fighting, and distress.” - Dr. Matt Morris, LPC, LMFT
“You can give people and couples a manual of how to manage their money and they still can't do it. Fear gets involved, habit gets involved, desire gets involved. These emotional experiences that are running in the background, that are affecting or driving or influencing behavior.” - Dr. Matt Morris, LPC, LMFT
Resources Mentioned:
Erik Garcia, CFP®
Dr. Matt Morris, LPC, LMFT
Garcia Financial Group
Matt Morris & Associates
Building Us Podcast
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about everything we need to know about loss runs.
Episode Highlights:
David shares a story about a call with a gentleman that he was helping with a mod analysis. (3:13)
David explains why checking the indemnity column is the first thing he does. (7:33)
David explains why most of the time producers get loss runs. (12:10)
Kyle mentions that most people forget about near misses. (15:56)
David shares why sending copies of accident and incident reports are significant. (16:09)
David mentions one of his favorite tricks. (20:20)
David shares a story from one of his accounts that he engaged with. (22:06)
Tweetable Quotes:
“If there are low dollar indemnity claims, there's a high likelihood it's not there, so that opens up the door for that conversation. That's literally the first thing I did in this and we talked about the return to work and light duty.” - David Carothers
“If you are a niche player and you write other businesses just like this one, you are not using case studies from your own book of business, shoot yourself in the foot because that's an easy way.” - David Carothers
“The ones that are bad, they report at the same day or like the day after. It's all these piddly little claims that are anywhere between a few 100 bucks and a few $1,000 that have this horrible lag time on them.” -David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Aaron Steffey, Co-Founder and Director of Sales and Marketing at Propeller Bonds. Aaron talks about the types of bonds and how Propeller Bonds has been doing since it opened.
Episode Highlights:
Aaron mentions the offices they opened. (4:37)
Aaron shares why he chooses to bond. (10:02)
Aaron shares the types of bonds that he has automated. (13:44)
Aaron mentions what is the most commonly procured bond. (15:42)
Aaron shares the two types of potential buyers’ journeys. (22:55)
Aaron shares what they utilize when tracking a bond. (31:11)
Aaron shares how their business has been going since they launched. (39:18)
How much does it cost for the people to get engaged at Propeller Bonds? (43:05)
Aaron shares how the compensation works at Propeller Bonds. (44:17)
Tweetable Quotes:
“I thought that maybe using my brain and a couple of other people, we could talk about something that we can maybe solve like a really serious problem within the insurance industry.” - Aaron Steffey
“We not only are automating it and helping agents, but the carrier’s really loved working with us because we're distributing products for them much more efficiently than they can.” - Aaron Steffey
“I guess we can do different things to different people. I think that's what's cool about our product is that it is so adaptable. I can submit a $5,000 bond or a $500,000 bond. We can be there to help you streamline that and get it out the door quickly.” - Aaron Steffey
Resources Mentioned:
Aaron Steffey LinkedIn
Propeller Bonds
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Laura Treonze, Chief Life Strategist, Motivational Speaker, and Behavioral Analyst at LMT Consulting. Laura talks about how she motivates her clients and why confidence is key.
Episode Highlights:
Laura shares how she helps people build businesses. (3:20)
Laura explains why people must have your ideal client. (8:41)
Laura mentions why most independent contractors don’t have business plans. (11:26)
Laura shares the types of people that reached out to her. (14:32)
Laura mentions her favorite clients. (16:07)
Laura shares how she chooses her clients. (18:52)
Laura shares the biggest mistakes that she sees when people come to her. (25:13)
Laura mentions how she motivates people. (34:00)
Laura shares how to build confidence. (36:06)
Tweetable Quotes:
“As I started to work with other people outside the industry, I'm like... this is so much bigger and I want to take advantage of that. So, I decided I'm gonna leave real estate and go into coaching full time. If I'm going to be a coach, I want to be coached by the best.” - Laura Treonze
“My business is built word of mouth, I guarantee results. People making more money is a very important result. So, if you're not reaching your results, I don't want you in a long-term contract because I'm going to be giving you your money back.” - Laura Treonze
“When you start showing people success in certain parts of their life, they start to create and find success in other parts as well. So, let's not have weight as your goal right now. Let's work on a different goal so that we can look at the patterns that work there. Then, apply them to weight if you decide at some point you're committed to that. If you don't get committed to that, who cares. Stop beating yourself up about it.” - Laura Treonze
Resources Mentioned:
Laura Treonze LinkedIn
LMT Consulting
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about teaching what every client and prospect needs to know about the insurance industry.
Episode Highlights:
Kyle shares a story about his client that was new to insurance. (3:04)
David mentions why his favorite is the blacked-out deck page. (5:02)
Kyle mentions what he felt after his conversation with the client. (7:26)
David acknowledges Daniel Seong. (10:52)
David shares what he found to be ironic. (11:35)
David mentions part of the issue with the insurance industry. (14:31)
David shares why he prefers CRM to CIC. (22:15)
David mentions the biggest issue they had with their HR Portal. (30:03)
Tweetable Quotes:
“If you look at everything in your life, we are teachers. We're teachers to our kids, we're teachers to our spouse, we're teachers to our prospects, our clients and all of that.” - David Carothers
“Kids only become what we equip them to become. It's no different when you're dealing with clients and prospects. If you go in and take a new business appointment, go under the premise that you're an educator making sure they understand them, you're going to be way more successful.” - David Carothers
“I have to be a teacher. When we go in and talk about the things that we talk about, there's an education process involved. You can't go in and say the total cost of risk to a buyer that's never heard the total cost of risk before and not explain it.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Mark Suski, SET, CFPS, and Associate Director at Jensen Hughes. Mark talks about his knowledge and experience in risk engineering, and the hazards of dust.
Episode Highlights:
Mark shares how he got into risk engineering. (2:19)
Mark gives us a brief background of what risk engineering is. (4:39)
Mark mentions other aspects of risk engineering. (6:35)
How did the pandemic affect Mark’s career? (10:01)
Mark explains how some aspects of his job changed, due to COVID.(12:21)
Who are the people that typically reach out to Mark and hire him to go in, and risk engineer? (16:54)
Mark shares the biggest win he’s ever had, as a result of performing the risk engineering study. (28:30)
What’s Mark’s specific specialty? (35:34)
Mark shares the top three things that people should recognize when it comes to equipment safety. (39:43)
Mark shares the dangers of dust. (42:00)
Tweetable Quotes:
“Safety and protection in human life is always on the top of the list. You know, that's always going to be the first question, the first box that we're going to check is going to be life safety, and protection of people.” - Mark Suski
“When companies look at not only cost-wise, I think it helps bring down costs, but it helps, maintain. And, I think it's only going to get better and refined.” - Mark Suski
“When you think about it, risk engineering kind of does look at everything holistically... Because, A, they wanted to know what happened to my building, my structure and people. And, B, what would happen to my building, my structure, and my manufacturing processes.” - Mark Suski
Resources Mentioned:
Jensen Hughes
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Miles Merwin, the Founder and President of Advisors Insurance Agency, LLC. Miles talks about his transition from working in an agency to running an agency and the structure of their program.
Episode Highlights:
Miles mentions what made him start an agency from scratch. (6:33)
What’s been the biggest challenge for Miles while running the agency and putting together this program? (11:34)
Miles shares the structure of their program. (12:25)
How did Miles transition from working in an agency to running an agency? (21:24)
Miles shares the toughest part about going from being a producer to a principal. (22:13)
Miles mentions why he’s impressed with David’s ability. (39:24)
Tweetable Quotes:
“If I can help someone open up an agency and meet their dreams too, that's when I'm making more money than I ever thought I would. Now they're making great money, providing for their families and employing people too. We're creating a lot more jobs, a lot more satisfaction, and really creating great relationships I hope last well into the future.” - Miles Merwin
“I feel like when you're watching and creating success, then you are naturally going to get success in your life.” - Miles Merwin
“As I mature I've got to keep stepping up my game, otherwise I'm just gonna get bored. I'm that personality, if I'm doing the same thing over and over again and we're sitting still or going backwards, it's time to end. I'm constantly trying to get better and continue maturity.” - Miles Merwin
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about why people should sell value not expenses, and how to effectively represent somebody's business.
Episode Highlights:
David mentions what producers need to figure out. (1:35)
Kyle mentions that a learning management system is an expensive tool. (2:53)
David shares the only problem they can’t address most of the time. (4:08)
David mentions when he hears about the training programs. (7:18)
David shares a call he had from a guy at Killing Commercial. (8:43)
David shares how to effectively represent somebody's business even though you don’t understand their business. (11:06)
David mentions why the insurance piece is simple. (14:21)
Tweetable Quotes:
“I think part of what producers need to look at is figuring out how to bundle their value proposition in a way they can provide stuff without charging more to their client.” - David Carothers
“You can control what your agency does and what your value proposition does and that's what you should be hanging your hat on. Also, you should be looking at questions surrounding the training.” - David Carothers
“When you go in and find those issues and can have a solution where you say, we just need to add lockout tagout or add ladder safety to your learning management system or whatever, that's a breeze.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Matt Masiello, the CEO of SIAA. Matt talks about his career in the insurance industry, the services they provide at SIAA and gives a little background about his book entitled, Insurance Agency 4.0.
Episode Highlights:
Matt gives a brief background about SIAA. (5:25)
Matt shares why some people don’t embrace technology. (7:54)
Matt mentions the goal of his book. (8:12)
Matt shares the process they have that needs to be followed. (12:14)
What was the scenario that led Matt to write the book? (14:11)
Matt shares the opportunities they had during the pandemic. (26:30)
Matt mentions the main service they provide. (30:07)
Tweetable Quotes:
“If I was to sort of sum the book up in a sentence it was, I just want to try and help agencies create a cadence to develop a process to embrace technology, that's what we're trying to accomplish there.” - Matt Masiello
“Between COVID and my experience, I just think there's a great opportunity for independent agencies to fortify their business. The industry now knows that independent agencies are not going anywhere and they're ready to invest in us. We have to invest in ourselves too.” - Matt Masiello
“This was the opportunity for us to not be seen as the local insurance agent. This was the opportunity for us to be seen as a peer entrepreneur in the community that cared, was an anchor in the community for other businesses, and assumed a leadership position for our clients.” - Matt Masiello
Resources Mentioned:
Matt Masiello LinkedIn
SIAA
Insurance Agency 4.0
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Stephen Sedlak, CIC, CWCA, the President of Workcompology. Stephen talks about how ADP has helped him and gives a little insight into his book entitled, The Work Comp Control Effect: 7 Steps to Increase Profits Through Your Work Comp Program.
Episode Highlights:
Stephen mentions what ADP does. (5:21)
How well did ADP train Stephen to overcome objections? (9:52)
Stephen mentions how emails could be effective. (16:45)
Stephen shares the firm that they hired. (20:10)
Stephen mentions what kind of open rates they get. (21:44)
Stephen gives a little background about his book entitled, The Work Comp Control Effect. (28:29
Tweetable Quotes:
“Roleplay is awkward, right? It's always that awkward thing, but in reality, it's extremely effective if done properly. It's nothing more than just practice.” - Stephen Sedlak, CIC, CWCA
“The whole premise was to make it credible to show, I know what the hell I'm talking about, it's not just a blog post that anybody can write. It's published, it's a hard copy that I will leave behind. It's going to be on your desk, it's going to be in your office. Whatever shows the credibility, that was the entire premise behind it.” - Stephen Sedlak, CIC, CWCA
“If you don't see the value that we're going to bring to the table, that we've discussed and agreed upon, I'm out the door. It isn't just an apples-to-apples comparison. If you're looking at that, what you're looking at is wrong.” - Stephen Sedlak, CIC, CWCA
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Stephen Sedlak LinkedIn
Workcompology
The Work Comp Control Effect
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about the significance of being prepared on appointments and asking open-ended questions.
Episode Highlights:
David mentions the biggest issue when it comes to appointments. (2:05)
David shares a story about the most recent deposition he was in. (3:59)
David shares the two factors that the producers must do to be successful in the foreseeable future. (10:51)
Kyle shares some of the factors that he has used in the past. (14:13)
David shares one of the calls he was supposed to have. (15:26)
Tweetable Quotes:
“I'd like to focus a little bit on the open-ended questions because I think that if you're good at that, and you perfect that art, you will close a lot of business that way. If you ask questions the right way, you're going to be able to drive a wedge and allow that prospect to conclude that they're not getting what they're paying for.” - David Carothers
“We're so focused on going out and writing the accounts that have problems that we completely miss the fact that we have best in class resources and a really good platform of value add stuff. Companies that are already doing good and want more, we're attracted to them too.” - David Carothers
“When there are not any accounts that are having issues, you don't think that you need to fix anything. There's stuff that we can provide to them that could drop their mod lower.” - Kyle Houck
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Aaron Gordon, the Vice President of Gordon Companies Insurance Services. Aaron talks about how he became the bridge between old school service and new age technology and his niche focus on the commercial business.
Episode Highlights:
Aaron shares the technology story that they have. (10:39)
Aaron shares how people pay by paper checks. (12:57)
What’s the story behind Aaron’s LinkedIn profile? (14:40)
Aaron mentions what he tells to any new producer that he speaks to. (23:15)
Aaron shares his niche focus on the commercial business. (26:17)
Aaron shares the time when he was personally a victim of identity theft. (31:43)
Aaron mentions the difference between EPLI and cyber. (35:11)
Aaron shares why people must have a good relationship with their financial institution. (51:03)
Tweetable Quotes:
“If we want to call ourselves trusted advisors and experts, we don’t mean you have to write a 100-page thesis.” - Aaron Gordon
“One of the reasons why I love being on the PNC side is because our renewals are equally as valuable to us as a piece of new business, meaning that you can strengthen your relationships to get better referrals.” - Aaron Gordon
“I don't think that on the financial management side of a business, people should become so financially dependent on technology. They don't know what's going on in their business, it can spin quickly.” - Aaron Gordon
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Aaron Gordon LinkedIn
Gordon Companies Insurance Services
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Charles Specht, the President & CEO of ConstructiveRisk.com. Charles talks about understanding the Broker Of Record letter and booking appointments.
Episode Highlights:
Charles shares why an agency is a sales organization. (8:40)
Does Charles think there’s a huge gap in the industry not providing any sales training? (10:28)
Charles mentions how the pandemic affected the industry. (14:47)
Why does Charles think that BOR’s have a bad reputation? (17:05)
What does an ideal client look like for Charles? (26:45)
Charles shares the two sides of booking appointments. (33:53)
Charles mentions where most insurance agents are focused. (51:51)
Tweetable Quotes:
“When I got into the business 20 years ago there wasn't a Facebook, there wasn't YouTube, there weren’t smartphones, there weren't those things. It’s a different world today and you have to be able to market, brand and script yourself completely different. Really begin to attract the insurance buyer that you're looking for. It's just different, you really have to specialize in certain things.” - Charles Specht
“Without the broker of record letter, the insurance buyer has nothing. They have to wait until renewal to make that switch. It is the insurance buyer’s power. Those agents who don't like it might say, well, you're stealing my work. No, I'm not stealing your work, I'm just going to go ahead and give them the right service that they need.” - Charles Specht
“If somebody is not good at making phone calls, I'm not gonna try and say cold calling is your new thing. It is just not going to work in the long run. So, everybody's different, every agency is different. The services they have are different and their geographic location is different.” - Charles Specht
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Charles Specht LinkedIn
ConstructiveRisk.com
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss the three old types of sales tactics that are still utilized.
Episode Highlights:
David shares that the first type is cold call marketing drops. (2:29)
David mentions why cold call marketing drops are the best. (6:31)
David shares why the pandemic has made cold calling interesting. (7:09)
David shares that the second type is the phones. (8:13)
David shares what to do when you cold call with and without real knowledge. (9:26)
David shares that the third type is the handwritten notes. (11:09)
David breaks down the three types of sales tactics. (13:08)
Tweetable Quotes:
“If you're a good salesperson, you should want to cold call l, that should be your jam, period. Otherwise, it's like playing basketball on a nerf hoop versus playing in the NBA.” - David Carothers
“I think that there is a certain amount of respect you get from someone if you take the time to give them a handwritten note.” - David Carothers
“If they're struggling with any one of those things, everything we do is intentional. If we don't intentionally do it, it's not going to give us the result that we want.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Richard Stein Jr, the Founder and COO of Wellhouse Company. Richard talks about the history of their agency and understanding investment banking.
Episode Highlights:
Richard shares his background. (4:57)
Richard mentions his knowledge about investment banking. (11:44)
Richard shares his opinion on compensations. (23:18)
Richard mentions the great factor about Mod. (25:22)
Richard mentions the biggest lesson he learned from working with David. (29:46)
Richard mentions what most people usually complain about. (48:54)
Richard shares an anecdote that he heard. (58:02)
Richard shares the biggest challenge when it comes to prospecting. (1:07:05)
Tweetable Quotes:
“As I’ve gotten more adept at using Mod Master and thinking about using VA to insert some of that data, I can see value in saving the time to do that. If you take a company's loss runs, put them into Excel and upload them into Mod Master, the time that it took you to do those is valuable. Now you totally understand that clients claims.” - Richard Stein Jr.
“I think the type of clients that you target, the type of clients I target, are the type of clients that most people want. If you explain it to them and show them the math of why they want skin in the game, that's gonna resonate.” - Richard Stein Jr.
“Trying to show them that you can be proactive where everybody else in the industry is typically retroactive. People have a hard time conceptualizing how insurance is going to respond unless they've seen it respond in a particular way. Find areas that they've had problems with where you would align a solution.” - Richard Stein Jr.
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Richard Stein Jr. LinkedIn
Wellhouse Company
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Brandon Smith, the Managing Partner at Glidewell Investments & Insurance Group. Brandon talks about his knowledge in the insurance industry and the significance of building a good relationship with a client.
Episode Highlights:
Brandon mentions what makes their industry great. (8:32)
Brandon shares his rule whenever he attends a conference. (13:18)
Brandon shares what Policy Tee is all about. (16:18)
Brandon shares what he’s doing to build the foundation. (28:55)
Brandon mentions how the pandemic has affected his agency. (31:01)
Brandon mentions the significance of relationships. (31:39)
Brandon gives a little background about the agency. (58:01)
Tweetable Quotes:
“Don’t compare your beginning to somebody else's middle. Be secure and confident with who you are. Make your agency the best possible agency in your community.” - Brandon Smith
“I am more excited about the people that will be there than the conference or the opportunity to speak. It's the relationships that have so much value.” - Brandon Smith
“We hear that you have two ears, one mouth, listen more than you talk. The truth is, in our industry, if we just shut up and listen our clients will tell us exactly what we need to do to get the sale.” - Brandon Smith
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Brandon Smith LinkedIn
Glidewell Investments & Insurance Group
Policy Tee
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about the number one mistake that producers make.
Episode Highlights:
Kyle mentions the main mistake that producers make. (2:36)
Kyle shares why the mistake that producers make is not dropping the close. (10:56)
David gives his opinion on the main mistake that producers make. (12:42)
David mentions why producers that don’t know how to cut bait in the prospecting phase is the biggest mistake. (13:30)
David shares a story about his deal with a roofing company. (16:44)
Tweetable Quotes:
“I would say in the insurance world that people talk about coverages that they'd be missing or just different aspects of the forms. Then you have the discussion and the prospect agrees, but then you don't ask for the sale or for that agent of record letter.” - Kyle Houck
“I think that we're under such production pressure. People want the top of that funnel to be so massive that they just put everything in there. I'd rather refine it before putting it in there so I'm not using time and resources on it.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Jeff Roy, the CEO of Excalibur Insurance Group. Jeff discusses everything we need to know about his company and his interest in having a virtual assistant.
Episode Highlights:
Jeff mentions that he’s a huge fan of the Killing Commercial. (12:42)
Jeff shares why they’re in the process of improving their commercial department. (15:25)
Jeff shares his background. (18:45)
Jeff mentions how the pandemic affected his business. (23:48)
Jeff mentions their phone system called crew.io (27:56)
Jeff shares that they’re interested in hiring a virtual assistant. (28:46)
Jeff shares the significance of training people and looking at your process. (41:27)
Jeff mentions their smart speaker setup. (43:34)
Tweetable Quotes:
“I'm trying to build APIs and help get companies to open up their systems to connect and improve the industry. At the end of the day, my big why is to leave it better than I found it.” - Jeff Roy
“I write the songs, I read the scripts, the main thing is you're doing it. People wait till everything's perfect. When I get the perfect script and the perfect bark and I'm gonna launch, three years go by and they never get off the effing ground.” - Jeff Roy
“People a lot of times sit there and wait for fish to jump out of the water in their boat. You're teaching people how to fish and that's a big thing. It's not luck. A lot of people have luck as a strategy, and you can't scale luck.” - Jeff Roy
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Jeff Roy LinkedIn
Excalibur Insurance Group
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interviews Jack Wingate, the Founder and President of ALLCHOICE Insurance. Jack talks about his expertise in automation and the systems they use in the agency.
Episode Highlights:
Jack shares his background. (5:12)
Jack mentions how many offices they have. (10:01)
Jack shares what he says when people come to him and ask what system to use. (27:30)
Does Jack’s agency do commercial lines as well? (28:35)
Jack shares the time when they started implementing the sales pipeline in Infusionsoft. (32:18)
Jack shares how they changed the way they sell personal lines. (39:02)
Jack shares a story about his conversation with one of his carrier representatives. (48:14)
Jack mentions the problem that most insurance agency owners have. (53:33)
Jack mentions their endorsement process. (1:03:48)
Key Quotes:
“I spend so much time looking at research. If you're wanting to drive personal lines, having that location where you're wanting to do business is one of the top four ranking factors of Google. You can't beat proximity.” - Jack Wingate
“The reason you win business is not because you price something. It's because you brought value to what you're worth. The problem with the rest of the industry that doesn't play in that space is that we've bastardized ourselves to be the guy who gives a quote.” - Jack Wingate
“The carriers moving forward are not going to want less and less. It's going to get harder and harder. We talked before we came on about getting contracts to get good contracts. We all know that size matters. So, the bigger you are, the better contracts you can get or negotiate.” - Jack Wingate
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Jack Wingate LinkedIn
ALLCHOICE Insurance
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about telemarketing and the machine that they’re building inside Florida Risk Partners.
Episode Highlights:
Kyle gives his opinion on the issues in telemarketing. (1:32)
Does David think that it’s more impactful for the people to be in the middle market than a smaller company? (6:48)
David mentions one of the things they are all guilty of. (7:11)
David shares the telemarketing machine that they’re building inside Florida Risk Partners. (13:21)
David shares what to do when doing marketing drops. (18:06)
David mentions where they get their virtual assistants. (19:41)
Tweetable Quotes:
“I think that we get easily frustrated. I think it's too easy to give up and move on to the next thing because we have other things we can do to keep ourselves occupied.” - David Carothers
“If you hit them in between the eyes with that piece of information, like your experience mod is coming up or whatever else, they'll give you the benefit of the doubt and listen. Pepper them with a bullet point, it gives you another 30 seconds to talk.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Preston Schmidli, Chief Product Officer at Better Agency and the Co-Founder of Good Vibe Squad Marketing. Preston talks about his approach in the insurance industry and what he likes about Better Agency.
Episode Highlights:
Preston shares his background. (3:32)
How does Preston find the balance between the agency, the marketing and Better Agency? (8:10)
Preston mentions one of the best ways he bought his time back. (16:20)
Preston shares the commitment they have made with Better Agency. (23:23)
Preston shares his plans on the commercial side. (28:39)
Preston mentions what he likes about Better Agency. (36:57)
Preston shares one of the things that is validating to him from a full-circle perspective. (1:02:36)
Tweetable Quotes:
“There’s a lot we've set out to accomplish and we need to stay focused. I think balance is a thing that doesn't exist in human form. I think it's about prioritization and it's about recognizing what you can do.” - Preston Schmidli
“If you're trying to bridge into commercial and you haven't done it before, you have to almost walk away from everything you've known.” - Preston Schmidli
“I want to create something that's so turnkey, so ready to use that they don't have to learn any of that stuff. They can utilize it and go back to their agency and work just the way it's supposed to be.” - Preston Schmidli
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Preston Schmidli LinkedIn
Better Agency
Good Vibe Squad Marketing
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Danielle Willetts, the Owner of Little Dog Social Media. Danielle talks about the approach of their company in the insurance world and the significance for companies to have an online presence.
Episode Highlights:
Danielle gives a short background of the company. (2:22)
How did Danielle get into the insurance niche? (3:56)
Danielle shares how they came up with the name of their company. (12:34)
Danielle shares a story of what happened to their company before and during the pandemic. (25:58)
Danielle shares the services that they offer. (29:18)
Danielle gives her opinion about this year’s social media. (45:15)
Tweetable Quotes:
“Our main market is insurance. That's the only place that I market, that's the only space that I really want to play in. Of course, I don't want to turn anybody down that is a referral of one of my agents.” - Danielle Willetts
“There are so many avenues on the social media front that need to be paid attention to. If somebody's not paying attention to it, then you're just going to get trampled because somebody else is going to be doing it.” - Danielle Willetts
“We have lots of room for growth and we're looking forward to helping agents in 2021.” - Danielle Willetts
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Danielle Willetts LinkedIn
Little Dog Social Media
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about their experience when dealing with difficult clients.
Episode Highlights:
David shares a story about an account that was referred to them by one of Kyle's referral partners. (6:52)
David mentions what happened to that account. (7:37)
David mentions his response to the client. (10:47)
David shares the number of accounts that he has terminated. (11:52)
David shares what he realized when it comes to payroll. (12:45)
Tweetable Quotes:
“You outline the options with everybody beforehand in terms of payment explaining why monthly self-audit makes the most sense for 99% of our clients.” - Kyle Houck
“There are good ones out there and we work with some really good ones. They have numbers they have to hit. I like to recruit them because they have to get in front of literally everything so that they can hit their numbers.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Patty Lares, the Owner of AA Lares Insurance Services. Patty talks about her career in the insurance industry and what she does to help their community.
Episode Highlights:
Patty mentions one of the biggest challenges she has had. (3:59)
Patty shares her background. (6:09)
How long has Patty’s agency been running? (9:06)
Patty shares how their agency started. (9:12)
Patty shares how her career started in the insurance industry. (18:32)
Patty mentions the scholarship that they offer. (27:59)
If Patty were talking to an agency owner that doesn’t help in their community or does a limited amount, how would they start? (31:25)
Tweetable Quotes:
“You can challenge me to do anything about work or business. I am not afraid of taking on the challenge or putting in all the hours that's needed. Seems to me like I'm committing not to myself, but to so many other people.” - Patty Lares
“I feel that ever since I can remember, I wanted to own a business. I didn't have a clue what type of business, I just wanted a business. I don't know when but it clicked that I'm protecting people.” - Patty Lares
“I feel that all of us were created for greatness. Some of us have had better opportunities than others. I just started thinking about how I could give back. I feel honestly extremely blessed.” - Patty Lares
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Patty Lares LinkedIn
AA Lares Insurance Services
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Mike Stromsoe, the President at Stromsoe Insurance Agency and the Founder of The Unstoppable Profit Program. Mike talks about his approach in the insurance industry and the programs that they have in the agency.
Episode Highlights:
Mike shares his background. (2:16)
Mike mentions one of the smartest ideas he did when he was in the restaurant business. (6:42)
When did Mike start his first insurance agency? (10:42)
Mike mentions the biggest turning point of his career. (11:00)
Mike shares why he started collecting people’s testimonials. (12:47)
Mike gives a little background about their training program. (17:14)
Mike shares some of the things he has done in their community. (32:47)
Mike mentions how their referral program started. (33:10)
Mike mentions the biggest win they have done. (35:13)
Tweetable Quotes:
“There is nothing better than somebody else's success. If you have a hand in it, impacting people's lives personally and professionally is what it's all about.” - Mike Stromsoe
“There is only one thing standing between you and everything you want in this world and it's right there. It is right there in what we affectionately call the mirror of truth.” - Mike Stromsoe
“You cannot just sit there, you have to continue to work on yourself every day. You have to be open to being coachable and listen to people who know more than you do. Be willing to accept their advice and run with it.” - Mike Stromsoe
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Mike Stromsoe LinkedIn
The Unstoppable Profit Program
Stromsoe Insurance Agency
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about projecting the mod and David shares a story about an agency he took.
Episode Highlights:
David shares a story about an account he took from an agency last year. (3:05)
David shares what led Think HR to happen. (6:59)
Does David think that requesting loss runs could help your situation? (8:12)
Is it necessary to have a drug-free program? (10:46)
Kyle shares what he likes about the auto owner. (15:39)
David shares the moral lesson of the story. (16:09)
Tweetable Quotes:
“If you're doing things for your clients, make sure they know that you're doing things for them. I need to practice what I preach.” - David Carothers
“I'm not saying you shouldn't have a drug-free program or have some semblance of it. If you're going to try and do it to comply to get the credit on your worker's comp, you're actually going to spend more money to do that.” - David Carothers
“If you understand the way the money flows, just pay the policies off. You're going to actually do better and get a better use of your money than you would by just leaving it in the bank.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview James Castell, the Director of Sales and Marketing at Castell Insurance. James talks about his approach in utilizing technology and how the pandemic has made an impact on their agency.
Episode Highlights:
How did the pandemic affect James? (4:40)
James mentions their PNC side. (5:37)
James shares what he likes about utilizing video. (9:06)
What other works have James done in the agency to make it more efficient? (10:22)
James mentions their online enrollment platform. (10:41)
James shares his involvement in the community strategy. (17:18)
James mentions the program he conceptualized from the athlete of the week program. (26:54)
James shares the conversation he had with Gabe. (31:50)
Tweetable Quotes:
“We were brick and mortar and we had filing cabinets for everything as of five years ago. Part of my passion as I came on was we needed to digitize and move forward. We switched everything to digital and scanning, then uploaded it to the cloud. Everything's done electronically.” - James Castell
“I just want my chicken fried steak on the plate, I don't really care how you batter and fry it. I just want it to taste good and that's the same customer experience that we're trying to provide. They don't really care for a Magic Man or automation, they just want it to be done.” - James Castell
“When I'm feeling good and happy to come to work and that I'm making an impact I see is valuable, everyone feels good about that aspect.” - James Castell
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
James Castell LinkedIn
Castell Insurance
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Christopher Paradiso, the Owner of Paradiso Insurance. Chris talks about his community involvement strategy and how the magazine has helped his sister and the community.
Episode Highlights:
Chris shares his background. (4:51)
Chris gives a little background about his community involvement strategy. (10:17)
Chris mentions one of his passions. (13:22)
Chris shares why the 14th of June is all about their community. (15:58)
Chris shares his thought process behind the last agent standing. (20:59)
Chris shares why he wanted to focus a magazine on visual content marketing. (23:32)
What kind of progress has Chris made doing the magazine? (33:45)
Chris gives a piece of advice to the listeners. (40:47)
Tweetable Quotes:
“I personally believe that reading is one of the most influential things if we want to really have success later in life. It plays a vital role in our life. The more we can get kids to read the smarter and better their future will be.” - Christopher Paradiso
“Make sure these people with disabilities are heard. They're human beings. They cry like us, they laugh like us, they have the same feelings and they need to be heard.” - Christopher Paradiso
“We promise we're going to keep making a difference. The best thing we can do is when we can stick together, I'm telling you, the sky's the limit.” - Christopher Paradiso
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Christopher Paradiso LinkedIn
Paradiso Insurance
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about how they manage success and their process in reaching their goals.
Episode Highlights:
David shares a story about his very first college appearance at Marshall. (4:09)
David mentions why he has no problem delaying gratification. (7:22)
David mentions his opinion about money. (8:23)
David shares why he and his wife would always discuss their goals. (9:13)
Kyle mentions his process in achieving his goals. (11:22)
Kyle shares his stretch goals. (15:46)
Tweetable Quotes:
“When you achieve that, you need to celebrate it. You don't need to celebrate it for three weeks, but you need to acknowledge that you achieved your goal. Then celebrate it, and then you move on to the next one.” - David Carothers
“Don't just stop because you achieve the goal, do something to chronicle your progress so that you have something to look back on as well. There's gonna come a day when you get stuck.” - David Carothers
“Sometimes it's good to sit there and reflect on some of the stuff that you were doing, other scenarios that might have been working that you have forgotten about just because it's been a while.” - Kyle Houck
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Claudia McClain, the President and Founder of McClain Insurance Services. Claudia talks about utilizing technology in the insurance industry and shares the impact the pandemic has had on their agency.
Episode Highlights:
Claudia shares a little background of her agency. (2:38)
Claudia mentions what the three C’s stand for. (3:19)
How has technology been a huge part of her agency? (4:47)
Claudia mentions their agency is one of the first agencies that went paperless. (12:06)
What kind of technology platforms does Claudia utilize in their agency? (15:41)
Claudia shares the sequence steps that they’re building to reach their clients. (17:02)
Claudia shares about the culture they have in the agency. (23:23)
Claudia shares a story about their COVID initiative. (34:34)
Claudia mentions one of the other elements to consider about perpetuation. (55:20)
Tweetable Quotes:
“If we can't be efficient, and we can't deliver on the client's expectations, which are, you know, becoming more and more demanding in terms of speed of response and the rest, we're not going to be able to compete with some of the other options in the marketplace.” - Claudia McClain
“Embrace the technology early and deploy it to the degree that your customers accept it. If there are some hits and misses, sometimes the clients don't want to necessarily adapt to certain technology, and their use at the end of the day has the final say on it. But for the most part, if we keep on moving and keep our minds open to whatever the next need of the client is, then we can stay relevant in their minds and continue to compete with the bigger guys.” - Claudia McClain
“My goal is to make sure that every person that joins the team, has the opportunity to grow to whatever level professionally they want. So, we'll support them with all of the continuing education, but more importantly, try to encourage them, see their strengths, and try to encourage them to stretch a bit more, and move into a position that will result in more of a long-tenured career, and certainly a more profitable career to them.” - Claudia McClain
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Claudia McClain LinkedIn
McClain Insurance Services
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Daniel Seong, the Owner and Founder of Great Park Insurance. Daniel talks about how to become a successful agent and how their Yelp account helped their agency grow.
Episode Highlights:
Daniel shares his background. (3:46)
Daniel mentions how to become a successful real estate agent. (12:11)
What does Daniel talk about every time he’s coaching? (13:00)
Daniel gives a little background about their team. (14:11)
Daniel shares a story about a comment from Yelp. (16:02)
Daniel mentions what he noticed since they started uploading photos on their Yelp account. (19:41)
Is there someone handing Daniel’s social media? (22:28)
Daniel shares his experience in the military. (24:17)
How does Daniel recruit people? (36:35)
What was the biggest challenge for Daniel to keep everything moving along and to start growing where he is now? (38:07)
Tweetable Quotes:
“It's the two extra minutes that you take to make that extra phone call to connect with the prospect and connect with the client to ask that one more question. Hey, how are you doing? How's your family doing? I know you just had your birthday this weekend. What did you do? It's that extra two seconds of just making sure that email is right. Just connecting.” - Daniel Seong
“Now we're at a point where if they see our Yelp account, and they don't call us, they almost feel as if they're missing out. There’s such a gap that they want to call us. It's been a true blessing, and the photos absolutely help.” - Daniel Seong
“I wanted to be an example, a visible example to my kids. They know that daddy works hard. I preach to them every day about being consistent. I always tell them, I don't care if you fail, but I just hope you try anything in life.” - Daniel Seong
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Daniel Seong LinkedIn
Great Park Insurance
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about one of the issues that most producers are having problems with and give a piece of advice to the producers.
Episode Highlights:
David shares a story about his trip to St. Louis. (3:25)
David mentions why a lot of producers are going to be able to relate to this topic. (3:58)
David shares the issue in the GC. (4:26)
David shares the process involved in a mod that’s higher than one should to qualify for work. (5:15)
David mentions the first argument. (7:18)
David mentions why you must calculate those rates appropriately. (9:19)
David shares a fun fact. (15:05)
Tweetable Quotes:
“I think that when you're worried about selling insurance, sometimes you don't realize that you can really bring a lot of value to your clients in other ways.” -David Carothers
“I feel like as producers, we always have to be thinking about what kind of value we can bring to our clients because otherwise, somebody else is going to.” - Kyle Houck
“Understanding who needs to hear your message is really one of the biggest things that you can do. So many people think that it's XYZ compliance company that's screwing with me. No, it's not. Those people with the compliance companies know nothing about insurance, they never know about insurance.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Brent Kelly, the President of Sitkins Group, Inc. Brent talks about his passion for teaching, consulting, and coaching.
Episode Highlights:
Brent shares his background. (6:17)
Brent shares how his career began at Sitkins Group. (7:49)
Brent mentions his conversation with Roger Sitkins. (20:00)
Brent mentions one of the aspects of being a professional. (22:08)
Brent shares what imposter syndrome is all about. (22:31)
Brent explains the dishwasher syndrome. (38:46)
Brent shares why some producers don’t get better results. (51:54)
What's been the most rewarding aspect of following Brent’s passion for the industry? (55:44)
Tweetable Quotes:
“Insurance is the risk world, right? But the idea was almost like, the risk of not doing it became worse than the risk of doing it. It was like if you don't do this within your heart, it's gonna tear you apart.” - Brent Kelly
“Transformation starts in a mindset, and you've got to do things to build the confidence to do that hanging around with people that you'd be in an environment with, and then you got to start to do the things that are going to build your skills.” - Brent Kelly
“I need you to hold my feet to the fire. Because without it, I promise you, I'm gonna screw up and I'm gonna get off and I make excuses for myself because guess what, I am a human being, and I've been there many times. So, you've got to have those things together.” - Brent Kelly
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Brent Kelly LinkedIn
Sitkins Group, Inc
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview John Wales, a Sales Manager at CoverWallet. John talks about his career in the insurance industry and how CoverWallet is helping agents.
Episode Highlights:
John shares his background. (2:50)
John mentions what he does at Coverwallet. (5:29)
John gives a little background about the company and how it helps agents. (7:13)
John mentions one of the big things that Coverwallet allows. (11:17)
What’s the most successful way that agents are integrating Coverwallet into their agencies now? (15:51)
John shares how does the onboarding process works for an agency, once the policy is bound. (21:34)
John shares a story about the time when he opened his first agency. (23:34)
John mentions the information that is included with those leads. (41:35)
Tweetable Quotes:
“I have a passion for helping the small business owner. So for me, my world was a small business. I started, I knew I had the passion for it and I had the desire to learn.” - John Wales
“We look at our cell phone to consume information, we look at our cell phone to communicate with others, we look at our cell phone as the true connection to the outside world. And when designing our platform, that was a big point that we wanted to make sure that everything could be done on a mobile device or tablet.” - John Wales
“We appreciate the chance to be a part of your arsenal. We want to help you succeed and we are going to do what we can and we will open our toolbox to give you the tools to really succeed in commercial insurance.” - John Wales
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
John Wales LinkedIn
CoverWallet, an Aon Company
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about the daily routine that makes them the most productive and the most successful. David shares his process in finishing video content.
Episode Highlights:
David mentions the first thing he does every day when he’s doing things the right way. (2:01)
David shares what he likes to read. (8:19)
Kyle mentions what Daniel Seong shared with him. (9:23)
What’s the content of David’s editorial calendar for the entire year? (11:38)
David mentions the first thing he does when he gets in the office. (12:30)
David shares how he gets his video content done. (15:47)
Why is having a VA essential? (17:37)
Tweetable Quotes:
“If I don't have that accountability it doesn’t matter how successful I ever could become, how many deals I close, how much money the agency makes because I won't do that. I'll stop because I need accountability to get that done. Just like I need accountability to make sure that I eat right.” - David Carothers
“One thing is you need to plan for it. When you're walking in the next morning and you didn't get something done last night, you already have stress on you and you already feel behind.” - David Carothers
“You have to plan this stuff out and you have to stay regimen into it. If you don't, it spirals out of control and you really do end up putting yourself in a position where you get nothing done.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Steve Mohr, the VP of Sales & Marketing at Lightspeed Voice. Steve talks about his approach in the insurance technology space and its technicalities and what Lightspeed Voice is all about.
Episode Highlights:
Steve shares his background. (6:43)
How has Steve’s experiences as an agent and agency manager helped with what he’s currently doing? (8:16)
How many team members do they have in their agency? (12:42)
Steve mentions some of the products they released. (17:11)
Steve shares how they extract the data. (19:39)
Steve shares the phase that they’re currently focused on. (37:53)
Steve mentions their softphone application. (39:36)
Tweetable Quotes:
“The insurance industry is great and people are great. I would say it’s one of the more unique things in the world because it's one of the few industries where everybody is technically a competitor but everybody's super willing to share their best practices and help each other out. It's just a cool place to be.” - Steve Mohr
“If you got a job to do and you need a drill, you want to be able to plug it in. It's going to have more consistent power.” - Steve Mohr
“If you're in the insurance business or any business and you're not spending time keeping up on technology, you're gonna find yourself in trouble pretty quickly.” - Steve Mohr
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Steve Mohr LinkedIn
Lightspeed Voice
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Jerry Conrey, the CEO of Conrey Insurance Brokers & Risk Managers. Jerry talks about how he has approached making himself better over the years and the significance of conveying care and being an advocate to your customer. Episode Highlights:
Jerry shares his background. (2:44)
How has Jerry approached making himself better over the years? (5:17)
Jerry mentions why all his producers must have a CIC. (5:21)
Jerry shares a claims scenario that happened to him. (14:18)
Jerry shares the significance of being able to throw a rope to your customer and pull them to you. (22:15)
Jerry shares their process in the workforce. (28:15)
How did Jerry get into the aspects of teaching the programs? (41:33)
Tweetable Quotes:
“I would hope that every broker agent out there is an advocate, with you as the advocate. It's really important that you’d be able to throw a rope to your customer and pull them to you.” - Jerry Conrey
“The most successful people in this business will share their “hows.” They'll write books on it and they'll define it for you right down to the penny. I still scratch my head and wonder, why would you give away your competitive advantage? Then I realized that was not the competitive advantage, you are the competitive advantage.” - Jerry Conrey
“I want you to understand what care looks like. If you can't convey care, you're not going to be very successful in my agency because that is the one thing we do is care.” - Jerry Conrey
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Jerry Conrey LinkedIn
Conrey Insurance Brokers & Risk Managers
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about appointment setting and its other pieces.
Episode Highlights:
Kyle mentions that appointment setting is something that you must do. (1:19)
David mentions that they’re doing an appointment setting machine. (3:05)
What’s the thought process of doing an appointment setting machine? (3:10)
David shares the part of his theory behind setting appointments. (6:05)
David shares his experience with soliciting appointments. (9:19)
Has David’s VA’s been helpful at Florida Risk? (11:43)
Tweetable Quotes:
“You don't necessarily need to differentiate yourself when you're trying to schedule an appointment.” - David Carothers
“It’s not the same as if you're sitting there in person talking with them and they can explain things or answer their questions in person. I've always kept it as simple as possible, especially with PEO.” - Kyle Houck
“I think sometimes we allow that to cloud how simple it is just to make phone calls and ask for an appointment. The other thing is you have to balance because sometimes we know that experience mod is going up.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Troy Thompson, an Insurance Professional at Pinnacle Insurance Agency Of Minnesota. Troy talks about the value of using traditional selling techniques with new technology and how Dave Ramsey leads have worked for his agency.
Episode Highlights:
Troy shares his background. (3:24)
What’s the most common objection that Troy receives? (6:50)
Does Troy supplement the door to door with any other ways of getting in front of clients? (9:00)
Troy shares the great aspect of Dave Ramsey leads. (16:32)
What kind of onboarding does Troy do? (17:32)
Does Troy still have a flip phone? (24:26)
What was the biggest challenge in making the transition from Troy’s previous career? (26:44)
Tweetable Quotes:
“When the sales team is in and everybody's working from home, it seems that gong hasn't been banged as much as it should. I miss hearing it, but when everybody's in here I'm always saying hey, I haven't heard the gong in a while!” - Troy Thompson
“I feel I'm average. I really do listen to people like you that have brilliant guests that are crushing it. I'm kind of sadistic almost because I listen to almost every podcast out there. I'm just always blown away at how much better everyone is than me, so I really feel like I'm an addict. If I can take 1% of what you learn or what you teach in a year, that's gonna help me.” - Troy Thompson
“I knew nothing about insurance other than going door to door saying I bet I can save you money on your insurance, and it worked.” -Troy Thompson
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Troy Thompson LinkedIn
Pinnacle Insurance Agency Of Minnesota
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Tolga Tezel, the Founder of Canopy Connect. Tolga shares how to utilize technology in the insurance industry and how he built Canopy Connect. Episode Highlights:
Tolga shares his background and how he got into Insurtech. (3:32)
Has Tolga looked at any other vertical markets outside of insurance? (6:06)
Tolga shares how he was able to solve a problem in the industry. (9:46)
What do the polls look like? (13:05)
Where did the name Canopy Connect come from? (18:25)
What has been the biggest challenge for Tolga? (34:52)
What are the people doing to set themselves up for success that are using your product? (36:21)
Tweetable Quotes:
“It’s a great time to build a company around unlocking that data, based on a consumer consent driven model, which is what we've done. That model applies to a lot of different industries.” - Tolga Tezel
“Our product works great on mobile, and that's something that we've certainly optimized it for. Honestly, it works great on different form factors so you can use it on your laptop, phone, or anywhere that has the internet.” - Tolga Tezel
“Integrations are so key in this industry because we're not going to go and build a CRM. I think a company that focuses solely on a CRM is going to do better at doing a CRM.” - Tolga Tezel
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Tolga Tezel LinkedIn
Canopy Connect
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about how many people are effectively using their business planning, process planning, and most significantly, their behavior planning.
Episode Highlights:
David shares why a lot of people are utilizing business planning. (2:18)
How would David put an effective action plan that's going to produce the results that he’s looking for? (6:24)
David mentions an ideal prospect profile. (8:03)
How many people do you have to present to get 10 orders? (9:20)
Kyle shares prospecting from the way that he has done it in the past. (11:34)
David shares his theory if you're a producer, who's starting in the middle market. (14:23)
Tweetable Quotes:
“It's great if you've got a goal, and it's great if you've done market research, but if you don't show what the behaviors are that are gonna help, that's not a business plan. It’s called a list of goals and some market research.” - David Carothers
“This is obviously the time when everybody's doing resolutions and trying to get everything in line after the first of the year. I think a lot of times if you don't have those action items and the how behind it, it turns into one of those gym resolutions.” - Kyle Houck
“I would tell you to crack out those freshly written business plans, get to work, and figure out what your day looks like. You'll be amazed at how much money you can make if you just get yourself into the routine.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Ariel Rivera, the President of Ariel Rivera & Asociados, Inc. and the founder of Deer Insurance. Ariel talks about how he got into the insurance industry, how he came up to launch an agency in Florida and the significance of building a relationship with the clients. Episode Highlights:
Ariel shares his background and how he started in the insurance industry in 2004. (2:33)
Ariel mentions what he liked about the PNC. (5:36)
What made Ariel decide to start an agency in Florida? (6:19)
Ariel shares the difference between being an agency owner in Puerto Rico and Florida. (11:00)
How did Ariel approach his clients during the pandemic? (20:02)
Ariel talks about the presentation he did at Innovation. (30:42)
What’s the one thing you must check if you're writing commercial insurance, especially in the middle or large market? (42:34)
Ariel shares the significance of learning about the different legislation towards cyber in every state. (50:22)
Tweetable Quotes:
“I started learning a little bit about PNC and I loved it, it stole my heart. I like the dynamic and the hustle. I still love life insurance, don't get me wrong. PNC is just more active, there are many more ways you can help lots of people and I just love it.” - Ariel Rivera
“When you move forward starting your agency, you need to start thinking about all the people you serve and all the people you're responsible for. One of the things I always say is, it doesn't matter whether you do two pages, one page or 100 pages, it's all about planning.” - Ariel Rivera
“I'm super involved in the insurance industry. I've been doing this for 17 years and I've been involved in it for probably 12 now. Get involved, get some medication, study, learn. It's a great industry to be in.” - Ariel Rivera
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Ariel Rivera LinkedIn
Ariel Rivera & Asociados, Inc.
Deer Insurance
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Carrie Reynolds, the Owner of Alan Galvez Insurance. Carrie talks about how she got into the insurance industry, the significance of utilizing technology, and how the pandemic affected their agency.
Episode Highlights:
Carrie shares a little background about their family insurance business. (2:05)
Carrie shares some of the issues she has encountered in their agency. (7:47)
Carrie mentions the interesting part about working with her father that was difficult. (12:13)
For the past couple of years, what has been a significant change at their office? (13:38)
What kind of technology has Carrie implemented? (15:34)
From the technology standpoint, Carrie shares how their staff has adapted to working remotely due to the pandemic. (23:13)
Carrie mentions the dock station that their staff was using at home and how it has been helpful for them. (24:15)
Tweetable Quotes:
“You got to get the right people in the right seats. When you do that, then you will be able to be a boss, do things, and make things happen without encountering that resistance.” - Carrie Reynolds
“I'm not the most technologically advanced out there, but I'm okay with that because it does what we need it to do. If you get too many things that you have to learn, I think you're just never going to utilize the full capacity of your tools. Then you just leave and waste money.” - Carrie Reynolds
“I've always professed myself to be the advocate for women insurance agents. I freely said that if I can beat that bandwagon, I will. Sometimes I don't think it's beaten enough. Maybe others will disagree with me, that's their prerogative.” - Carrie Reynolds
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Carrie Reynolds LinkedIn
Alan Galvez Insurance
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about how to overcome a producer in the middle market and the significance of understanding perception.
Episode Highlights:
David mentions the form that he uses every time he conducts an interview. (3:18)
How does David present the forms in a way that they wouldn’t feel hesitant? (4:04)
David shares why being unaware of the information is one of the biggest traps that anyone runs into. (6:30)
David mentions where he would see a big point of contention, and it’s something everybody should be mindful of. (8:10)
What was one of the things that David does for all of his accounts of any size, when it comes to audit? (11:18)
David mentions the huge issue that you have to handle when dealing with safety people and risk managers. (13:32)
David shares the value of perception. (14:34)
What kind of feedback did David receive when he presented that information to the decision-makers? (16:52)
Tweetable Quotes:
“If you do the assessment the correct way, and you average everything out, you can come up with a pretty good game plan for how you have to deliver the message of what you think your performance looks like. Then once you do that, you can craft how you're going to go about it.” - David Carothers
“I've got a CRM that's going to show every single communication that we've had with date, time stamps, recorded phone calls, and everything. If you're gonna play that game, you better pick a better dance partner than me because it's just not gonna work.” - David Carothers
“You have to make sure you understand who your allies are in the company, and who aren't. Because you can end up getting displaced really quickly if you're not careful, and I'm not foolish enough to think that I'm completely immune to that because I'm not. But I'm not gonna go out without a fight.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Jay Bunte, the Owner of Gallop Insurance. Jay talks about how he was introduced to the insurance industry and his journey on how he built his agency.
Episode Highlights:
Jay shares his background and how he got into the insurance industry. (2:07)
How did Jay get a congressional nomination? (4:17)
What did Jay like about being in personal lines? (12:06)
Jay shares where the name of his agency came from. (13:43)
What were the principles he learned in the military that he can incorporate in the insurance world? (16:09)
Jay mentions why mortgage and insurance are two of the most painful subjects for most consumers. (20:50)
What was the biggest issue that happened when Jay launched his agency and how did he solve the problem? (24:12)
Jay shares how the IOA made him better in the insurance world. (45:57)
What kind of technology does Jay use? (48:29)
Jay gives a piece of advice for agency owners. (50:21)
Tweetable Quotes:
“When you're a brand new agent and brand new agency owner you're just trying to get business in the door and trying to survive. Some very, very smart people told me, do not write everything that comes in the door, and don't go chasing everything.” - Jay Bunte
“I've built teams in the military and I've been a part of teams in the athletic world. If you take those principles and apply them across any business, you're going to be successful, right? People will remember not necessarily conversations, but they’ll definitely remember how you make them feel.” - Jay Bunte
“My advice to anybody new is just take action. It's going to be messy, it's going to be imperfect, but that's better than just sitting there and debating with yourself on whether you should do route A, B, or C.” - Jay Bunte
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Jay Bunte LinkedIn
Gallop Insurance
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Mick Hunt, the CEO at Premier Strategy Box. Mick talks about the six pillars that every business should be built around.
Episode Highlights:
Mick mentions that he started in the insurance industry 20 years ago and he was a sales manager for a nationwide agency. (2:37)
Mick shares that when he realized that there was a need for business development and processes, he started the Premiere Strategy Box. (4:05)
Mick mentions that they find out your priorities and then build a program and a plan based on that. They do something completely different for every client. (6:41)
Mick shares that they’re focused on the middle market and none of his producers ever wrote double-digit accounts per year. (14:44)
Mick mentions that when everyone understands profitability, they care a little bit more. When they're tied to that profitability, they care a little bit more as well. (21:06)
Tweetable Quotes:
“We can't work with everyone, right? There have to be some core principles that you have in place, right? I don't want someone that's looking for a 30-day quick fix because that's not what we do. If anybody promises that you should run, right? Like, there's no such thing as a quick fix.” - Mick Hunt
“If you're not willing to make the phone calls, do the follow-ups, or not willing to learn then it's not gonna work. There's nothing that I can say that's gonna make you better. Nothing that my coaches can tell you that's gonna make you better if you don't have that trait. It's not gonna work.” - Mick Hunt
“If you were fresh out of college and you kind of had that mantra about you, you are definitely coming on board. I just look for that sales trait because that's the one thing that I can't teach. I can't teach you how to go get it and that you're going to get told no more than you're going to get told yes, and love it.” - Mick Hunt
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Mick Hunt LinkedIn
Premier Strategy Box
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about the importance of not selling yourself short as a producer and how to get your worth in 2021.
Episode Highlights:
David shares why you need to put a value on your time. (2:45)
David explains the importance of setting expectations when meeting with prospects. (5:47)
What are two traps that producers easily fall into? (9:03)
David challenges listeners to do two things going into 2021. (13:31)
Kyle explains why it’s all about mindset. (15:56)
Tweetable Quotes:
“Sometimes we're so worried about getting somebody to agree with us, or give us the order, or whatever else that we sell ourselves short.” David Carothers
“Don't sell yourself short. Go in there, like the professional that you are, and establish that your time is equally as valuable, that you're every bit as qualified as you need to be. And then stay in your lane and don't get distracted.” David Carothers
“It's a mindset, you've got to be in that mindset that your time is just as valuable as the people that you're meeting with. And when you do that, it just kind of exudes off of you. You don't even have to do anything specifically. It's just it just naturally, they understand by the way that you carry yourself.” Kyle Houck
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Dave Jackson, Owner of Jackson Insurance Group and Founder of Insurance Agency Owners Alliance. Dave discusses the changes in the insurance industry over the years, the three principles of IAOA that they strive to adhere to, and how you can join the group.
Episode Highlights:
How Dave got into the insurance industry. (2:04)
The purpose of IAOA and has grown into what it is today. (6:40)
The benefits of the Facebook mentorship feature in the IAOA group. (14:57)
Dave says that the mentorship program is one of the coolest things because the veteran guys get to help the younger folks, and the younger folks impart fresh ideas. (16:06)
The importance of younger generation agency owners learning from older generation agency owners. (23:59)
Dave shares that he is term conservative because based on his experience, the insurance industry as an overall industry moves slowly. (23:59)
The importance of creating a relationship with and knowing your clientele (28:58)
What was the biggest surprise for Dave going from captive to independent? (38:37)
What are Dave’s primary niches? (50:46)
How to join IAOA (57:38)
Key Quotes:
“All you have to do is know how to create your relationship with your clientele, whatever that looks like, it can be face to face handshake with an audit review, or it can be an email, or it can be texting, or it can be any way you want to form that relationship.” - Dave Jackson
“We're helping those people or they're helping each other is what it really is about. I'm not the one helping. It's all our members who join in and they all take a real collaborative approach. Those are three principles, collaboration, selflessness, and innovation. So those are the three things that we strive to adhere to every day.” - Dave Jackson
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Dave Jackson Linkedin
Insurance Agency Owners Alliance
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Ashley Fitzsimmons, Director Of Professional Development at Ohio Insurance Agents Association. Ashley talks about the lack of communication in the insurance industry, the significance of working with one another, and the reason why she was called Beyonce’ of insurance.
Episode Highlights:
Ashley explains why the most important thing for agents to realize is that you can't run before you crawl. (25:06)
Ashley shares that she wanted to be "the Beyonce" of insurance because she wants to help other women thrive in the insurance industry. (27:22)
Ashley mentions that to get past the mental block you need to over-prepare, have a voice, and don’t be afraid to talk to your boss to bring up an idea. (37:11)
Ashley talks about her biggest transition in the insurance industry. (42:23)
Ashley thinks that the two things that can drive change in the insurance industry are culture and communication (53:34)
Key Quotes:
“Don't try to jump straight ahead and go for the most expensive, shiny, bright new piece of technology when you don't even have a basic website.” - Ashley Fitzsimmons
“Golden Rule of when you're young is that you're hurting yourself by just wasting time. Get on board or go your own way and figure out what needs to be done.” - Ashley Fitzsimmons
“There's no reason that women should put up a wall and be intimidated by a younger, newer version coming into the industry. We should be celebrating and screaming from the rooftops. Use your voice and go do what you want to do.” - Ashley Fitzsimmons
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Ashley Fitzsimmons
Ohio Insurance Agents Association
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about the significance of messaging, stewardship reports, and how to utilize the risk assessment report.
Episode Highlights:
David shares that he always hears people complaining about losing their business and they feel that they’ve done everything right. (1:41)
David mentions that you must start with the onboarding before doing a stewardship report. (3:47)
David shares that if you structure your client to set their expectations appropriately on what they should expect from you, then you can update them in real-time every month. (3:59)
David mentions that it's normal for a risk manager to go into a business and do a walk through baseline risk assessment. They can capture everything that might be a hazard, needs to be corrected and document any deficiencies in training programs. (5:18)
David shares one of his favorite tricks when he’s doing a baseline risk assessment. (6:03)
David shares that when he does the baseline assessment, he interviews employees and some frontline supervisors. The scores are based on their actual conversations and results to back up his results. (7:39)
David mentions that the findings on the risk assessment report will become the framework for the risk management action plan. (8:26)
David thinks that anytime you give information more often in smaller bits, it becomes digested more easily and more clear of what you’re doing. (11:07)
Kyle shares that it’s significant to set the expectation on the front end and letting them know what's going to happen over the year. (15:33)
Tweetable Quotes:
“Everything that I do in the middle market account hinges from that baseline risk assessment. I'll include the carrier loss control reps because I want them to have their two cents into what needs to go into that document.” - David Carothers
“When I do a risk assessment report, it's a 1 to 10 score. I give them a blank copy and say you don't need to walk around and look, you're here every day. I'm interested in you giving me your 100% anonymous score.” - David Carothers
“If you message appropriately and you tell your clients what it is you're doing for them, you can bet that they will bring you a pie, ” - David Carothers
“If you're telling them the things that you have planned, set out to do over the year, and you follow up with them as those things are going along, then that's the happy medium in my opinion.” - Kyle Houck
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Harrison Wicker, CWCA, Risk Advisor & Work Comp Specialist at Insurance People of North Carolina. Harrison talks about redefining the process around his networks and the data that is available in the Workers’ Comp area.
Episode Highlights:
Harrison mentions that from a revenue standpoint, getting after every business is something that’s not sustainable in the long run. (5:57)
Harrison shares that six weeks ago, he made a change where 100% of his prospecting is done based on workers comp, and it has pushed him to be better for the coming year. (6:26)
Harrison shares that he’s been in the insurance industry for seven years but he redefined the process to build advisory boards around his network for the different verticals he’s working on. (9:03)
Harrison mentions that his greatest strength is coming into an account, being able to know more about them from other industry experts, and having an insight on similar accounts that they read as well. (9:44)
Harrison shares that honesty is significant. Because if you don't disclose something that they find out through the underwriting process, that's going to be a bad look not only to your agency but to submission, in general. (33:10)
Tweetable Quotes:
“Workers’ Comp is something that I think more recently, a lot of agents are getting into. But a lot of people shied away because of the commission levels and the time spent on it. But for me, I love a challenge.” - Harrison Wicker
“I think Workers’ Comp is one of those lines where you have to be intimate with it, you've got to have a deeper level of understanding of the client or the prospect you're working with.” - Harrison Wicker
“As agents, building a successful program, the devils in the details, so you really have to dig in and get them to buy into your process and that's being trusted from the gate.” - Harrison Wicker
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Harrison Wicker LinkedIn
Insurance People of North Carolina
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Katlyn Eggar, Director of Education and Development at Quantum Assurance International and Host of the Age Of Indiependence podcast. Katlyn talks about the systems and technology that they created and the biggest lesson she learned in the insurance world.
Episode Highlights:
David introduces Katlyn Eggar. (1:30)
Katlyn mentions that they have a direct channel with flagship call centers in Virginia and Texas, and they also have an agency channel that was launched this summer with agencies from, Hawaii to New York. (4:28)
Katlyn shares that her role in the company is to help make sure that agents and their sales teams have the best onboarding programs possible, world-class education, and training. (4:42)
Katlyn shares one of the first lessons that had to be learned was that it’s not enough to lean on the goals that the captive carrier set for the agency. (7:53)
Katlyn shares that when it comes to training and education, incoming calls are as difficult as picking up the phone and dialing someone. Because you still have to build rapport with them, you still have to know them, put them at ease, and make them feel that they reached the right person. (14:45)
Katlyn believes that just because someone's sitting in a call center and someone shopped online, and both of them are now connected, doesn't mean that the conversation has to be transactional. (16:23)
Katlyn thinks that there’s a lot to be said on what some of the big direct call center models are doing that we shouldn't be quick to embrace, as agency owners. (21:19)
Katlyn shares that we can learn from specialization and putting people in a department that makes sense for their natural talents and abilities in an area, where they can focus on the processes that make sense in the sales department and service department. (22:23)
Katlyn mentions one of the things that she noticed was sometimes, people come on board and they're very passionate about one or two elements but they're not super well rounded yet. (26:14)
Katlyn explains their system called VoiceOps. (29:49)
Katlyn thinks that a lot of agencies join Quantum because they want to be part of their ecosystem and that family where they're surrounded by support and information that helps them build the program in their agency. (45:46)
Katlyn mentions that having the right technology suite is a big part of becoming efficient. Because they need to focus on the data, to be able to track and measure the right things. (49:39)
Katlyn shares her podcast entitled Age of Indiependence. (59:58)
Tweetable Quotes:
“My story started like so many other insurance agency stories. Started building the business one client at a time and figuring out what marketing looks like, how do we grow this business, and it was our family business that we put our heart, our soul, and our passion into, and it was a lot of blood, sweat, and tears.” - Katlyn Eggar
“When you're building a business from scratch, you feel like you are taking two steps forward and one step back every day in the beginning. So, there's just no end on how many lessons have to be learned to get that plane off the ground.” - Katlyn Eggar
“Our goal is to create a well-rounded insurance professional that's equally passionate about insurance and protecting families, as they are creating that buying experience that empowers the client to make a buying decision that's in the best interest of their family so that they can end their shopping journey today.” - Katlyn Eggar
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Katlyn Eggar LinkedIn
Quantum Assurance International
Age of Indiependence
VoiceOps
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck, interview Bryan Lovell, National Director of Business Growth at VanDyk Mortgage. Bryan started as an employee at Publix, entered his current profession shortly before the economic crisis of 2008, and now is the National Director of Business Growth of a mortgage company. David, Kyle, and Bryan discuss what it takes to motivate your team, drive revenue, and give your team what they need to succeed.
Episode Highlights: What does Bryan Lovell’s daily routine look like? (10:23) Regardless of the business you have or the business you are in, you have to be an innovator, and you have to be different. (15:33) When did Bryan transition into the mortgage world from the grocery industry? (16:41) Work on revenue-generating activities every day and work on your business and not in your business. (41:15) What is the best part of Bryan’s job today vs. where he started? (19:33) What are some ways to keep Bryan’s loan officers motivated? (23:58) How does Bryan manage “fragile egos” within his organization and not hurt people? What is the BLT of leadership? (27:20) If something isn’t going right, sometimes you have to take people back to where they changed the process, because the process works. (34:04) Bryan shares what he does to drive the revenue. (37:28) The philosophy is built around adding value to the referral partners and comes from a place of contribution. (38:05) Leverage is another big thing. People doing big sales shouldn’t be doing work that takes them away from sales. (40:52) One of the big mistakes salespeople make is isolating themselves. (44:30) Bryan’s experience in dealing with agents and agencies and what makes them successful. (48:33) Different people have different needs, and you need to create a service model to meet the needs that they have. (51:07) What’s on Bryan Lovell’s reading list right now? (57:56) What would be Bryan’s advice to an insurance agent who is trying to get inside the mortgage mind? (55:52)
Tweetable Quotes:
“Every single day I was going to do something that was a revenue-generating activity.” -Bryan Lovell
“We allow ourselves to get caught up so much in our business that we don’t work on our business.” -Bryan Lovell
“Everyone in a leadership position realizes shortly that you are serving the other people that are underneath you, they are not serving you.” -Bryan Lovell
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck Linkedin
VanDyk Mortgage Website
VanDyk Mortgage – Bryan’s Page
Bryan Lovell LinkedIn
Bryan Lovell Facebook
Reach out to Bryan Lovell: (813) 727-1867
Books:
Leadership Promises for Every Day by John Maxwell
Atomic Habits by James Clear
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Carey Wallace, the CEO of IntellAgents. Carey talks about the power of data and the importance of understanding the value of your agency.
Episode Highlights:
Carey mentions that she’s passionate about helping small business owners win. (3:48)
Carey shares that while they were building IntellAgents, they mined their own data as an association, and the biggest areas of need were valuation and perpetuation planning. (6:18)
Carey mentions that disruption causes change, but their industry is incredibly recession-proof and stable and that’s why private equity has come and stayed in the industry longer. (9:22)
Carey mentions that meeting a new agency owner that's growing, focused on the future, and understands the value of their agency, is different than someone who's at the end of their career. (12:52)
Carey shares that if you're making investments in your agency as an agency owner, and you're investing in technology, marketing, data, and you're only keeping it to yourself, it will fail. (52:45)
Tweetable Quotes:
“We had some forward-thinking agents on our board that believed that data was the gold that the association had and if we could leverage that data to help our agents grow their businesses, that is a completely new and different thing that associations had not been doing before.” - Carey Wallace
“I think it takes innovative thought, and it takes new leaders. And really this generational shift that's happening in our industry is what's going to drive the change because those people know what worked for the past 20 years isn't what's going to work for the next 20 years. But our impact is much more muted than other industries.” - Carey Wallace
“Your people are your biggest asset and when they have to buy in and they understand what they're doing, and how it impacts their job, how it impacts their ability to serve your clients, and how it impacts your overall agency, that's gold. Now you've motivated them and empowered them to understand their role in the whole process.” - Carey Wallace
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Carey Wallace LinkedIn
IntellAgents
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview James Jenkins, CIC, CRM, CRIS, Chief Risk Officer at RiskWell. James talks about how he started in the insurance industry and his knowledge and expertise in the insurance business.
Episode Highlights:
David introduces James Jenkins. (1:32)
James mentions that starting an insurance agency from scratch with no industry experience is completely irresponsible. (7:43)
James mentions that from a technology and client experience perspective, everything that the carrier did was intentional. (12:16)
James thinks that a lot of independent agents struggle with technology’s evolution. (12:50)
James shares one of the hardest transitions for him was going from being a good insurance agent and a good salesman to being a good business owner. (16:24)
In James’ opinion, the transition has not been the easiest. Not until almost a year into running the independent agency did he have a great relationship with his CPA and bookkeeper. (16:37)
James shares that everything he does in his business is 100% P&C insurance and it has given him a big advantage in how he works. It has allowed him to have channel partners that are life only and health only agents. (17:29)
James mentions that there's a lot of benefit to being able to focus and do a small number of tasks at a high level. (17:52)
James mentions that he was fortunate enough to be able to sell the previous agency. Therefore, he had an infusion of capital at the beginning. (22:53)
James shares the most insane 8 months of his life. (24:28)
Tweetable Quotes:
“One of the biggest advantages in the captive world is they take so many things off of your plate that allows you to focus on what really matters such as prospecting and closing deals.” - James Jenkins
“Having that foresight on the front end to say, who are we going to be and what are we going to focus our effort on. In the captive world, everybody's trying to do everything. Nobody turns away any prospect they quote because they don't know any better.” - James Jenkins
“I encourage you to figure out what you want your focus to be. Who do you want to be? You can't be everything to everybody. So if you're going to be great at anything, you have to stop doing some things.” - James Jenkins
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
James Jenkins LinkedIn
RiskWell
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck, interview Bernie Borges, Chief Marketing Officer of Vengreso and author of Marketing 2.0: Bridging the Gap Between Seller and Buyer Through Social Media Marketing. They discuss the role social media plays in the current market, and how to optimize social media platforms such as LinkedIn to attract buyers.
Episode Highlights: What does Bernie Borges’ daily routine look like? (3:07)
What is Bernie reading or listening to right now? (5:55)
David is releasing a book The Extra 2 Minutes, which will be released in May 2020. (9:09)
Discussion on the changes in the platform of Marketing 2.0. (10:43)
Bernie discusses how too many people think of social media as a broadcasting platform and that we need to treat social media as a communication and interaction channel. (12:56)
The principles and practices still apply today as they were when his book was published in 2009. (13:36)
A product meets a need, whether it is known or unknown. Example: no one told Steve Jobs that the world needs an iPhone. (15:25)
We need to be really good at communicating our ability to fill a need, and we need to make sure our message is resonating with people at some emotional level. (16:06)
David explains the difference between transformation and innovation. (17:13)
Try not to focus on AI (artificial intelligence). Focus more on today, and helping salespeople create relationships. (20:07)
Sellers need to be attractive to buyers, especially digitally, which often starts with LinkedIn. (22:59)
Technology and video-sharing platforms, such as Zoom, allow sellers to meet buyers where they want to be met. (26:22)
Why does Bernie focus on using LinkedIn, and what makes it better than it was 10-15 years ago? (30:28)
We, as humans, retain more when we consume information through “chunking”, small chunks of information spaced out over time. (43:00)
If someone is just starting with social marketing, what would be Bernie’s one piece of advice for them? (44:21)
What is one thing people can do to improve their LinkedIn profile the most? (45:55)
What is the best way to get in touch with Bernie if someone is considering hiring Vengreso? (49:15)
What does Vengreso mean? (52:45)
Tweetable Quotes: “At the end of the day, a product is something that meets a need.” -Bernie Borges
“The seller’s number one challenge is having more conversations.” -Bernie Borges
“I wouldn’t think of it as social marketing, I would think of it as modern selling.” -Bernie Borges
Resources Mentioned:
Marketing 2.0 (Amazon link)
Bernie Borges LinkedIn
David Carothers LinkedIn
Kyle Houck LinkedIn
Vengreso.com
Books:
The Will to Die by Joe Pulizzi
Never Split the Difference by Chris Voss.
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Adam Czerwinski, the Owner of Sidebar Insurance Solutions, Inc. Adam talks about how he shifted his career from being a lawyer to being an insurance agency owner He shares what the Chicagoland Chats Podcast is all about.
Episode Highlights:
David introduces Adam Czerwinski. (1:30)
Adam mentions that he started the agency from scratch about 4 years ago and before that he was an attorney and practiced law for 10 years. (4:58)
Adam shares that giving people explanations of cases that he handled made him realize how the insurance came into play from a real-life perspective. (6:49)
Adam shares that if your product is your intellectual property, you can deliver what you create. (9:02)
Adam mentions that every “No” is another step closer to the “Yes.” Therefore, just accept that “No” and be persistent on how to work through it. (12:16)
Adam shares that they’re probably around 75% personal lines but they do a lot now with focusing on professionals, doctors, dentists, lawyers and helping them understand all of the risks. (24:10)
Adam mentions that the personal lines have been their bread and butter because they have been on it for the full four years. (25:03)
Adam shares one of the things that they’re seeing with COVID-19 is a lot of movement to try and pull things out of the work comp and change it as a personal injury claim. (36:08)
Adam thinks that the policies are going to be revamped. Issues are going on between landlords and tenants currently that we would never have expected before. (40:52)
Adam shares how they started the Chicagoland Chats Podcast. (45:11)
Adam mentions that the key to being humble is to remember where you were, and where you started. (1:02:14)
Tweetable Quotes:
“One thing I understand that most attorneys do not understand is they were never taught in law school how to be business owners. They understand the policies they litigate and the portion of the policy they litigate in, but the holistic approach is not necessarily always there.” - Adam Czerwinski
“It’s an exciting time but it's a scary time as well. Being an entrepreneur and having that mentality of moving forward to figure it all out really comes through. This is what I signed up for when I launched this agency.” - Adam Czerwinski
“Humility is really what I think allows you to keep going. It's that humility that allows people to bind together and ask for help.” - Adam Czerwinski
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Adam Czerwinski LinkedIn
Sidebar Insurance Solutions, Inc.
Chicagoland Chats Podcast
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Mohamad Momin. Mohamad is the principal and commercial insurance producer at Starr Insurance Agency. Mohamad talks about building a business on the non-standard side and the systems they use for AMS and CRM.
Episode Highlights:
David introduces Mohamad Momin. (1:31)
Mohamad shares that he took a bachelor's degree in electronics engineering and bought into a franchise operation. It was strictly auto business and eventually didn't work out. (2:10)
Mohamad shares that Starr Insurance Agency was a non-standard office and they were handling all the bucket shop tasks. (4:03)
Mohamad shares that non-standard is a different beast on its own. It’s not as service driven. (5:05)
Mohamad mentions that his GM started as a non-standard agent with him. (11:28)
Mohamad mentions that everyone has a purpose in life and he hates seeing people who are not maximizing their full potential. (14:49)
Mohamad shares that in his agency they have an option to do non-standard auto or commercial. (17:36)
Mohamad mentions that Starr Insurance Agency is purely retail and commercial. 99% of his clients are Asian and that’s why he’s been approached by other agencies who want to buy his agency. (28:44)
Mohamad shares that for their CRM they use InsuredMine and for their policy management they use NowCerts. (38:08)
Mohamad shares that their non-standard marketing is a bit easier because they have a lot of dead files and that database of clients is a huge factor. The standard side has always been 110% referrals. (40:01)
Mohamad mentions that if you try to bundle all your clients into one captive and mess it up, your reputation will be gone. (46:32)
Tweetable Quotes:
“I tell all my employees to use me as a stepping stone. Come here and learn because I don't expect you to work for me for the rest of your life but I want you to grow with me. Max out as far as you can go with me, then move up.” - Mohamad Momin
“As an agency owner, you just hurt to see potential in somebody and they're not maximizing that potential.” - Mohamad Momin
“If you had employees with you for 14 years, where do you draw the line between being an awesome boss or a friend?” - Mohamad Momin
“It's purely based on relationships and they prefer to deal with people within their community or their ethnicity.” - Mohamad Momin
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Mohamad Momin LinkedIn
Starr Insurance Agency
InsuredMine
NowCerts
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about the significance of learning the management systems and utilizing them as a tool. Episode Highlights:
David doesn’t think that a lot of agencies are doing what they’re supposed to do with a management system. (2:15)
David mentions that Think HR can create customized learning tracks for every client. (3:13)
David shares that one of the details he likes most about Think HR is that they do the onboarding for their clients. (5:28)
David mentions one of the biggest issues is that some people are bad at adapting to technology. (5:37)
David thinks that a lot of times people that have agencies that lose business think it is because the new agency has a bunch of fancy tools. (7:37)
David shares that if you have an LMS it helps the culture of your company. It is nice to be able to give people certificates of completion and recognize them for getting through. (8:15)
Kyle thinks that you can pick and choose when and where you want to incorporate learning transcripts. If we're offering it to clients as a value, it gives you a little bit of a leg up on some of the competition that's out there. (9:53)
David mentions that if your state happens to pass legislation that changes something or there's an update, it’s automatically updated inside the handbook in real-time. (10:42)
Tweetable Quotes:
“You get to the point when you have that relationship with your client where they view you as an advisor. They call you about anything and everything including HR stuff. It's huge to have licensed professionals in place you can direct them to.” - Kyle Houck
“You have to be able to make it fit the shape and size of the client and that's what's nice. If you're able to deliver things like this, you can go into the small business and provide it just like you can to the account that's got 500 employees.” - David Carothers
“People view things such as learning management systems and other technological tools as expensive and they're not looking at it through the right lens. It's an investment, not an expense.” - David Carothers
“We spend way more money on stupid stuff. Don't send out the calendars this year and get rid of the refrigerator magnets. Buy a learning management system, do something more constructive with your money that's going to bring value to your clients.” - David Carothers
“Listen, you don't have to use the same tools that we use but I do think everybody needs to understand that this is where things are headed. You have to have tools like this to make your clients’ lives easier.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Renado Robinson, the Owner of Crosswinds Insurance Agency and Crosswinds Marine Insurance. Renado talks about his start in underwriting and how that experience helped him in building his own agency. Episode Highlights:
David introduces Renado Robinson. (1:30)
Renado shares that he worked in Atlanta as an importer and he was responsible for shipping all of the salesman samples of area rugs and curtain throws all over the US. (3:03)
Renado mentions the time when an underwriter approached him and offered for him to be an assistant underwriter. When he got the job, they placed him in the OSHA marine underwriting unit as an assistant underwriter. (5:10)
Renado shares how he officially became an underwriter in 2003. (7:08)
Renado mentions that in 2015, he decided to start his own insurance agency from scratch, and five years later, they already have a main office and two satellite offices. (8:01)
Renado shares that they write 80% commercial lines and 20% personal lines. Their commercial book consists of contractors, manufacturers, distributors, trucking, limos, restaurants, and a bit of marine business. (9:39)
Renado explains that having experience in underwriting, allows him to translate an underwriting message to a customer who might not understand the insurance process that goes along is vital. (12:40)
Renado mentions that when they onboard a carrier or if they already have that carrier and he’s meeting an underwriter for the first time, he usually starts the conversation by saying that he used to be an underwriter. (18:35)
Renado shares that when he first started the agency, his goal was to be an ocean marine broker. (31:09)
Renado mentions that over the years, he created their company website, and learned SEO from listening to other agents, other industries. (33:42)
Renado mentions that once your brain is trained to remove the price from the equation on a commercial account and adapt it onto the personal side, then it’s easier to sell a personal policy. (38:35)
Renado shares a story about a customer, and it’s one of the biggest customers that he currently has. (52:03)
Tweetable Quotes:
“Time is money, and no one has time, you know, to waste on money or anything nowadays. And so, by the time we go to an underwriter, we make sure we have at least 85% of what they need. Because we don’t want to spin their wheels.” – Renado Robinson
“You have to explain insurance to someone as if you’re explaining it to a five-year-old, and not a five-year-old belittling them, but explain it as if you’re trying to give specific instructions on the five-year-old on what they’re supposed to do to where they can understand it. And once you do that, that’s the golden rule. Once someone can understand it, then they’re more comfortable with you.” – Renado Robinson
“People like to be remembered, people like to be treated as if they’re the best thing since sliced bread, just like I do. We treat people with the utmost respect, and we treat them as if we’ve known them our entire life. Insurance is out of the equation, a lot of times we’re just getting to know someone and we’d rather have them as a referral partner who they can refer us to, even if we don’t get their business and so, a lot of times the cold calling works.” – Renado Robinson
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Renado Robinson LinkedIn
Crosswinds Insurance Agency, LLC
Crosswinds Marine Insurance
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about understanding the common denominators of insurance. Episode Highlights:
David mentions that it is essential to understand the common denominator because that is what we don’t necessarily need. (1:59)
David shares that if you want to be successful in the middle market production, you have to be uncommon in a common environment. (2:51)
Kyle shares that creating an agenda requires little effort, none of it is hard. (5:21)
David mentions that the agenda is an easy way to begin the meeting. (5:41)
David shares that another huge factor is understanding what you have in terms of resources in your agency to solve the problems. (6:21)
David shares what happened during his time with the B Atomic Airwaves Podcast. (6:36)
David thinks that everybody needs to understand the significance of technology, this is where most agencies go wrong. (6:50)
David shares that investments can be helpful to operate with the tasks inside an agency, and it’s a huge differentiator. (8:07)
David mentions that he’s been very impressed with Think HR’s 1-800 number that people can call and get advice from the HR. (11:03)
David thinks that one of the areas where HubSpot has helped him is by making sure that their clients are adapting around the automation. (12:28)
David mentions that if you want to be uncommon, you must start changing your perspective and how you look at things. (14:32)
David shares that most of the time we learn from failure and never learn from winning. Valuable lessons can be learned by winning also. (15:22)
Tweetable Quotes:
“It doesn't start when you walk into the present, it starts with how you go about getting the business to begin with. Whether that be a cold call, marketing drop, or telemarketing, you have to be memorable. People need to want to do business with you because you are shown to be an expert.” - David Carothers
“I think that does a couple of things that empower them. It helps them feel like they're in control and decision-makers. They need that and are used to that. It also gets you on the same table versus going back and forth in a negotiation type of thing.” - Kyle Houck
“Here’s the deal people, you have to look at technology exactly like it is. It's an investment, not an expense. An expense is not something that's going to give you a return, but investment does. Money just doesn't go in and evaporate into the wind” - David Carothers
“I think we just get to that point where we're trying to cross the finish line and once we finally do, then we're able to kind of take our victory lap. I think part of that victory lap definitely needs to be figuring out what led to that victory.” - Kyle Houck
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
B Atomic Airwaves
Think HR
HubSpot
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Nicholas Ayers, Chief Marketing Officer at Better Agency. Nicholas talks about how their product became the solution to every agency owner’s problem and how Made You Look is helping agents grow their business with video marketing. Episode Highlights:
David introduces Nicholas Ayers. (2:21)
Nicholas mentions that he started in the insurance industry in 2005. (3:10)
Nicholas shares that he opened his first independent agency in 2012 but didn’t learn his lesson, then did it again in 2018 because he’s hungry for punishment. (3:12)
Nicholas mentions that as an agency owner, they had to deal with systems that were non-functional and not made for the industry. (10:17)
Nicholas shares that over the years, they have required agents to become marketers, to have degrees in computer science, understand coding and automation, and more. (10:59)
Nicholas mentions that Better Agency is going to be the solution to help you presale and post-sale, a solution that isn't only for the sales team, but also for the salespeople. (11:48)
Nicholas shares that they recently released their referral partner center, that will help personal lines agents to connect with mortgage loan officers in a way that will give them back their own referrals and protect the book of business for their loan officers. (12:46)
Nicholas mentions that technology is the most efficient way to maximize your profitability, on an account. (16:24)
Nicholas shares that the agents in their space are seeing the opportunity, and they already see themselves as entrepreneurs. (24:50)
Nicholas believes that Better Agency is a broad market solution and they’re in the 80% of the industry that is focused on personal lines and small commercials. (28:16)
Nicholas shares that they started Made You Look in August of 2018, and what they do is show insurance agents how to attract their ideal customer, write the appropriate script, and put their ad in front of the right person, using paid YouTube ads. (29:44)
Nicholas mentions that the roots of marketing are all built on the idea that words are the most important component of all marketing. (40:48)
Nicholas explains what IAOA is all about. (47:46)
Nicholas mentions that the core principles of IAOA are innovation, selflessness, and collaboration. (51:17)
Nicholas shares that not every agency has the same shape, size, or focus. But we all speak the same language and we all want our businesses to do better. (57:46)
Tweetable Quotes:
“What Better Agency does is it takes out that obstacle, it takes away that roadblock that just says you know what, we're going to give you a product, it's going to do all the automation for you, it's going to have all the cross-selling features in there, it's going to have all of the renewal campaigns, it's going to have all the cross all the service and claims, it's actually going to be more functional than your agency management system in so many ways.” - Nicholas Ayers
“We want to keep it simple, we want to make agents aerodynamic, we want to allow them to move, to have less friction in their brain, and to focus on what they need to focus on, while still accomplishing things that they need to accomplish. It's gonna allow them to scale to keep their message simple and to grow their agencies, and to retain what they have.” - Nicholas Ayers
“We believe that the agency owner across the street from us is not our competition. If you view them as competition, then that's a mindset problem you have to deal with, there's plenty of business for everybody and we believe that we truly are better together.” - Nicholas Ayers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Nicholas Ayers LinkedIn
Better Agency
Made You Look
IAOA
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Joe Clevenger, the President of Clevenger Insurance Agency. Joe talks about his career in the insurance industry and the significance of having Virtual Assistants in his agency. He also shares his podcast called For Richer or Poorer. Episode Highlights:
David introduces Joe Clevenger. (1:31)
Joe shares that his father started the Clevenger Insurance Agency in 1995, as an independent agency. (4:10)
Joe mentions that they’re about 30% commercial lines, 30% benefits, and the remaining is personal lines. (9:11)
Joe shares that they’re an Erie Agency, and it’s one of their biggest carriers. (10:03)
Joe explains that the way he does the meetings enables him to build relationships with clients in a way that they feel comfortable that their book of business is going to be handled. (10:15)
Joe shares one of the aspects that he’s looking for when it comes to carriers, and it’s how they had their book of business setup. (13:18)
Joe shares that Warren Buffet is trying to figure out how much free cash flow is in a business, and he can determine the amount of cash on hand. (14:19)
From Joe’s perspective, the difficult part is figuring out if you’re taking that time, from an EBITDA standpoint. (14:51)
Joe mentions that EBITDA means Earnings Before Interest, Taxes, Depreciation, and Amortization. (15:09)
Joe shares his Podcast called For Richer or Poorer, and their topics are specific to husband and wife owned businesses. (20:06)
Joe shares that when they moved to Applied Epic, they used their VA’s to gather all the information and transfer it to the new system. (28:15)
Joe mentions that they use Cover Desk and they have three VA’s working for them. (29:41)
Joe shares the only issue that he’s struggling with is trying to figure out a comp plan for some commercial producers that would fit well with their structure. (42:12)
Tweetable Quotes:
“Financials are a huge part of it for me. I don't know why I just have gotten into digging the financial side of books. You'll hear a lot of people say, ``Oh, yeah, two times revenue, or two and a half times revenue on that book of business.” - Joe Clevenger
“Because of Warren Buffett and his way of valuing businesses is more on the cash flow side. So, the last few months, I've been digging into how he's valuing them from a cash flow standpoint and seeing if that's a viable option in the future, and future acquisitions.” - Joe Clevenger
“I'm trying to build a little bit differently from a commercial standpoint, in hiring true hunters, producers that just purely hunt, call, hunt all day, bring back the deck pages and the information, put in there, what they want to be quoted, write up their summaries, send it to the VA, and they're shopping everything out for them.” - Joe Clevenger
“The data that they're going to be able to provide is just off the charts. Crazy, and once we get access to that, it's going to change the way that we play it. We’re gonna be able to go to our carriers and say you're behind time. So, we need to either catch up or figure out a different way to do business.” - Joe Clevenger
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Joe Clevenger LinkedIn
Clevenger Insurance Agency
For Richer or Poorer
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about establishing client expectations and carrier relationships with loss control. They also discuss why people hate loss of control and how they can fix it. Episode Highlights:
Kyle thinks that some people probably go in with the wrong mindset on loss control from a carrier. (1:55)
Kyle mentions that he would prefer to know on the front end that there are some concerns rather than being told that everything’s fine. (3:29)
David mentions that if you're a producer out there, you must have a posture and make it look like you know loss control. (4:47)
Kyle shares one of the first loss control visits that he went to by himself for one of his clients that owns a cabinetry shop, and one of the points that he didn’t think about was the ear protection. (5:21)
David shares the two things he’d like to check before going to the underwriter. (8:34)
David mentions that if you want to accurately represent the risk to the underwriters, one of the best actions that you can do is to get loss control out there. (11:24)
David mentions that besides telling underwriters that you're setting the table appropriately and don’t want an adversarial relationship, let them know also that you don't think you know everything. (15:54)
David shares that in addition to his go-to, air compressors are a huge factor for him as well. (16:37)
Tweetable Quotes:
“As a producer, you cannot even begin to imagine the level of credibility you get with a prospect. If you walk in and see things and you bring them up, you appear to already know more than what you know.” - David Carothers
“This episode is sort of morphing into practical things you can do for loss control as a producer, low hanging fruit to look at and comment on. So, it gives you a leg up, but this is the real deal, man.” - David Carothers
“I just think that you don't want to go into that situation with the loss control person just show up for the loss control visit, and not have any idea what you're getting into because that can go downhill very quickly.” - Kyle Houck
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Cory Schnabel, Agency Owner at KC Insurance Group. Cory talks about how he got into the insurance industry and his transition from being an employee to acquiring his own agency. Episode Highlights:
David introduces Cory Schnabel. (1:33 )
Cory mentions that he started in the insurance industry in 2008. (3:07)
Cory shares that he was 23 years old when he started working with his friend at Allstate. When he discovered his ability in the people business, he decided to buy an agency. (3:30)
Cory shares that they started gaining traction with the carriers and getting contracts in 2015, then went live, and opened their doors on January 1, 2016. (4:12)
Cory shares that he felt they needed to figure out and focus on what they are good at and expand it. (6:13)
Cory shares that he’s truly grateful that they became more successful on the independent side, as far as growth, revenue, retention, and more. (21:01)
Cory shares that at his young age, he realized that he was good at selling insurance, good at building relationships to the point where, when he got acquired, he was the top 1 in the nation. (22:05)
Cory mentions that when he sold his Allstate agency, he took the profit he made from it and transferred it to KC Insurance. (23:12)
Cory thinks that a lot of agents focus on their commission. They should cut every penny out, don't overpay people, and do everything they can to maximize their margins. (33:32)
Cory mentions that they’re 98.6% personal lines, and it’s based on how they stumbled into the business. (41:55)
Cory shares how his team is structured (47:14)
Cory explains that his goal is to live financially free, to have a healthy family, and to implore his agents to be good people. (58:48)
Tweetable Quotes:
“We're just under five years in I don't know at all, I never will know it all and I'm kind of okay with just walking in every day to a new fire to put out and it kind of keeps me on my toes. I get bored doing the same thing over and over.” - Cory Schnabel
“It’s just hard work, and so, that's kind of what we've kind of figured out with our industry or with our kind of niche market is, it's hard work and you’ve got to kiss a lot of frogs before you find the princess.” - Cory Schnabel
“I'm a team mentality, I tell every single one of my producers that I want them to be on track for six figures by year three, and I want to help them get that. I want to help them to get it. Guess what if they're happy, they're writing business, they're making good money. The agency life is better, the agency attitudes better.” - Cory Schnabel
“My goal is to live financially free to have a good healthy family, good healthy kids, but to implore my agents to be good people, and whether that good people means taking your grandma to lunch on her birthday or donating to the local veterans’ society. That's who I want to bring in here.” - Cory Schnabel
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Cory Schnabel LinkedIn
KC Insurance Group
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Erik Garcia, CFP®, President of Garcia Financial Group and Owner of Garcia Insurance Services. Erik talks about managing investments, financial decisions, and budgeting. He also shares about his podcast shows, Building Us Podcast and the Plan Wisely Podcast. Episode Highlights:
David introduces Erik Garcia. (1:30)
Erik shares that when he was in college at Tulane University, he began focusing on more of the financial side of things (7:01)
Erik mentions that he completely left the insurance business in 2008 and went to the investment side. (7:45)
Erik shares that when his brother moved back to New Orleans in 2010, that is when they started an independent agent agency. He worked on the business end and put the contacts in place, while his brother and current business partner Giovanni, were writing a lot of insurance. (8:16)
Erik mentions that the heart and soul of what he does, are dedicated to investment management and financial planning. (9:27)
Erik shares that the burden for him is on the property and casualty side, due to the high maintenance and high volume. (16:59)
Erik explains that their agency is traditionally on personal lines. However, his business partner Giovanni has been grinding on the commercial lines lately. (17:21)
Erik shares that a typical business owner is comfortable with what they know about their businesses. Therefore, they tend to have a high concentration investment in one business. (23:21)
Erik mentions that most financial advisors are not getting involved in budgeting. (36:34)
Erik shares that he did a podcast episode with Sarah Stanley Fallaw, daughter of Thomas Stanley, and the author of the book called The Next Millionaire Next Door: Enduring Strategies for Building Wealth. (37:47)
Erik mentions the reason why people should do budgeting is because it is going to free them up, to do what they want to do. (42:02)
Erik shares that he is a big believer in physically separating money for separate purposes. (43:31)
Erik talks about his podcast entitled, Building Us Podcast. (50:57)
Tweetable Quotes:
“I own an independent insurance agency because there was an opportunity, I'm really good at networking, I'm really good at building relationships, I'm really good at vision and strategy. And this was an opportunity that I knew I could have success in.” - Erik Garcia
“I'm the type of person that if you put something on my plate to do then I have to make sure it gets done. Like, I can't rest even if I delegate it to someone else because I feel responsible for it.” - Erik Garcia
“Everyone's level of comfort with risk is different, and that what makes someone comfortable with one risk, and someone less comfortable with another risk typically has to do with how much they know and understand about that risk. Right? You bet on yourself because you understand what you do better than anybody.” - Erik Garcia
“Well, the reality is you don't have to be big to be profitable. Be big if you like running an organization, be big if you like managing operations. But if all that stresses you out, it creates anxiety, you can be profitable and be small.” - Erik Garcia
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Erik Garcia LinkedIn
Garcia Financial Group
5 Pillars of Financial Security
Building Us Podcast
The Plan Wisely Podcast Episode 10: Do you want to be the Next Millionaire Next Door? with Sarah Stanley Fallaw
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talks about middle market accounts and setting them up. They also discuss why some agencies are not taking the claims adjusters to the point of sale. Episode Highlights:
David thinks that the only person that’s non-likely to be invited to an appointment to onboard an account is from claims. (5:11)
David mentions that he doesn’t see agencies taking claims people, claims adjusters, and VPS of claims out to the point of sale, but they should. (5:28)
David shares that if you've never written a middle-market account, you need to set expectations with that carrier, specifically with the claims department and your clients to ensure that everybody's on the same page, on what needs to be done. (5:48)
David mentions one of the issues that’s always needed to be addressed on the front end is how the carrier is going to allow the agency to handle indemnity on claims. (6:19)
David explains that if you don't include the full indemnity on the claim, then the mod is not going to accurately reflect the risk. (7:00)
David mentions the second issue he thinks most people don't pay attention to is that they’re focused on getting the deal done and they forget the fact that they're going to have to do a lot of work to onboard and correctly service the account. (8:14)
David shares that the only way to create accountability is using the tools and shifting that culture to where it's one of accountability as opposed to deniability by having all the claims reported to the carrier by location and coded as such. (9:26)
David mentions that the other issue you need to pay attention to about claims is what type of an account these people are going after. (11:02)
Kyle shares that having a conversation on the front end with an adjuster is something that you can set yourself apart from other people. (14:06)
David mentions that he likes to take the loss runs and let the adjuster review the claims and the notes in real-time. (16:01)
Kyle mentions that if you do it right on the front end, you're going to have a much better outcome in the long run. (18:55)
David shares the other issue that agents need to be thinking about is how claims are settled and how the money is allocated. (19:01)
Tweetable Quotes:
“If you're an agent out there, and you want to take it to the next level, you should always request adjusters notes on open claims, and that's going to give you a far greater level of detail than what you're ever going to get by just looking at loss runs.” - David Carothers
“There are times where people think that the insurance company or the adjusters just kind of out to get them, and that’s not the case. They want a healthy account just as much as you want your loss runs to be clean.” - Kyle Houck
“Every single claim has its shape and size. So, you can't put yourself in a position where you just automatically go into indemnity reimbursement mode. At that point, you'd be better off just going ahead, let that ride, and let the carrier take care of the whole thing.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Ciara Gravier, CIC, PWCA, CPIA, Founder, and CEO of The Bunker Insurance & Risk Management. Ciara talks about her knowledge and expertise in the insurance industry and how COVID-19 has affected her business. Episode Highlights:
David introduces Ciara Gravier. (1:24)
Ciara shares that they started their company in January 2019. They hired their first producer in November and three telemarketers before the pandemic happened. (3:58)
Ciara mentions that she started her agency on paper about a year and a half ago, but they have been hitting it hard since January. (13:52)
Ciara thinks that the hardest part when the COVID-19 happened, was that it was the same time when they were trying to reinvent themselves. (14:48)
Ciara mentions that they have commercial experience but not in the middle market. (15:38)
Ciara thinks that the insurance industry is still very heavily male-dominated, but she surrounded herself with a lot of men that believe in her, probably more than she does. (16:52)
Ciara shares a story about a prospect that was referred to her by a good referral partner. (18:04)
Ciara mentions that the carrier appointments have been a big challenge for them, especially in South Florida. (30:14)
Ciara explains that apart from COVID-19, focusing on their content and videos has also been a challenge for them. (40:51)
Ciara shares that her father always tells her to remember the big picture and not to get caught up in the little things. (45:36)
Ciara shares her advice for the listeners, that you have to be patient with the process, find a mentor, find a skilled agent and follow them, and try to spend time with them and learn from them. (55:37)
Tweetable Quotes:
“You have to get your designation. Because having those letters behind your name is going to help you with adversity, you're going to face being young and being a woman, some people just don't take the advice seriously.” - Ciara Gravier
“I think honestly, some women might feel like they belong in the desk processing certificates. No, not at all. Any woman can do this job in the agency and run the show. It's not limited to just picking up the phone.” - Ciara Gravier
“I understand being an underwriter, the people that feed you the most and feed you the best are the ones that get your first attention. So it has been very difficult to find an underwriter that we can bond with, that responds to us quickly.” - Ciara Gravier
“I just want to be able to take care of my family, I don't need to have a million houses. I just want the flexibility, this job, and owning an agency does give you flexibility in your life.” - Ciara Gravier
“I think that I don't see myself working anywhere else but insurance, and I also think it's something I can do until I retire...I want to live a good life, a comfortable life, and take care of my family.” - Ciara Gravier
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Ciara Gravier LinkedIn
The Bunker Insurance & Risk Management
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Alex Toler, CIC, Workers Compensation Insurance Specialist at DeWitt Insurance, Inc. Alex shares best practices in minimizing the impact of Workers’ Compensation and saving money. Episode Highlights:
David introduces Alex Toler. (1:30)
Alex shares that he grew up being exposed to business because his father manages stores, while his mother was in sales. (4:21)
Alex mentions that while he was in college, he worked for American National doing personal lines underwriting. (6:00)
Alex shares that he worked with a State Farm agent for a year doing sales, and he quickly realized that it’s not what he wanted. (10:44)
Alex has been working at DeWitt Insurance for about 4 years. (12:30)
Alex mentions that he’s the third-generation owner of his father’s car wash business. (13:55)
Alex thinks that his work ethic and ability in customer service grew when he worked for his father. (14:08)
Alex shares that their management system supports most of the back end to where they can grow and build their teams inside of the agency. (21:57)
Alex shares the reason why he enjoys working at DeWitt Insurance because they are all on the same page and everything has been leveled upfront. (24:54)
Alex mentions their 3 significant rules, don’t cheat, don’t steal, and don’t lie. (25:03)
Alex shares one of the good elements that they have is their buying power, and they get a higher commission for some carriers and things of that nature. (25:54)
Alex thinks that chargebacks can help you understand what you're doing in business. (36:21)
Alex explains that we should all have good relationships with our attorney and our accountant, especially in the insurance space. (57:34)
Tweetable Quotes:
“I could go after what type of business I want to write, and if I don't feel like selling stuff for a month, I don't have to sell stuff for a month because nobody is breathing down my neck. It's you who eats what you kill.” - Alex Toler
“I know we have a market. So I'll spend the time on it, and sometimes it takes you away from going after what our focused business is. But it's really good to set up a relationship.” - Alex Toler
“A lot of times, you need these documents to be compliant with your insurance policy. And so I think those are two great places to have good relationships, and you can all share plenty of business and do right by people. And I think so many people are afraid to do a little bit of free work.” - Alex Toler
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Alex Toler, CIC LinkedIn
DeWitt Insurance, Inc
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck, discuss how to build good client and carrier relationships and the significance of the audit. Episode Highlights:
David mentions that they have been recording a lot of episodes since April. (1:33)
David shares that he checked their podcast on iTunes and it got him thinking, maybe some people listened and they’ve made an impact on their life. (1:53)
David shares one of the aspects that he learned over the course of the last eight months is that nobody knows how to onboard middle market accounts. (2:29)
Kyle mentions that most only think about how to get the deal done, not necessarily what comes after that. (2:43)
David shares some scenarios that he experienced, over the course of his career, that he recommends when working on middle-market accounts. (2:55)
David mentions that as you're having a kickoff meeting, you need to have people there, you need to have loss control people from the carrier, you need to have the underwriter, you need to have claims, and you need to have an audit. (3:26)
David thinks that the audit is one of the tasks that a lot of people never think about. (3:37)
David shares a story about something that happened to one of his accounts, how they resolved it, and hopefully everybody can learn from it. (5:22)
Is there anybody out there that's not familiar with extrusion? (6:27)
David shares that based on his experience, there's always somebody at the carrier who's responsible for the audit. Whether they're physically going out and auditing or not. (11:03)
David mentions that you could learn a lot from participating in the audits. (13:57)
Tweetable Quotes:
“Now listen, if this account is $25,000 in premium, even though we could classify that as the middle-market, that's not really what we're talking about, we're talking about your jumbo one hundred and some thousand in premium plus, you really need to take a different angle in terms of how you do this.” - David Carothers
“If you don't have it coded right, and the auditor feels differently, you're going have a difficult time winning that battle. So I like to bring somebody from audit in unless it's absolutely vanilla right now.” - David Carothers
“If you just sit there and ask a couple of questions to make it look like you know what you're talking about, and do that to participate, you're going to gain credibility like you couldn't imagine with your client, but you're also going to drive positive financial results for them too because you can eliminate a lot of back and forth by just being there when they do it.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Josh Lipstone, the Vice President of Lipstone Insurance Group. Josh talks about how he transitioned from the Enterprise to the insurance industry, and he also shares why he started his podcast series called Explain This Book To Me. Episode Highlights:
David introduces Josh Lipstone. (1:30)
Josh mentions that he’s been in the insurance industry for about 12 years. (4:10)
Josh shares that the interesting thing about Enterprise is they make the majority of their money from selling their cars after they've gone through the lifecycle, and it’s called remarketing. (5:29)
Josh shares that he spent his first year in the industry, reading articles, doing quotes, and learning all the processes. (10:26)
Josh mentions that at this point, they’re approximately 70% personal lines and 30% commercial lines. (11:37)
Josh explains one of the biggest challenges for him was working for his parents. Because at that time, both his mother and father were working in the agency. (14:20)
Josh shares about his podcast series called Explain This Book To Me. (16:56)
Josh thinks that he might start a section or a segment on the podcast called the epiphany moment. (23:18)
Josh shares what he learned from the first book that Jason Cass wrote is that, as much as we are trying to change the way that we do things now, most of the things that we did five years ago, still hold today. (26:51)
Josh mentions that his biggest focus is leadership. (29:35)
Josh shares that the reason he joined Killing Commercial is because prospecting and networking were his biggest fears. (33:28)
Josh shares that his concern has always been working with multiple people in one industry. He asks them to use him as the exclusive insurance agent. (50:03)
Tweetable Quotes:
“Growing up, I had a desire to become a lawyer. Glad I didn't do that, then a desire to become a writer, and not sure if I'm glad I didn't do that. But once I realized that I did have a passion for insurance after that first year, I started to focus on okay, how do I get better?” - Josh Lipstone
“I just enjoy selling insurance. I enjoy convincing someone that they need a product that they hate, that they don't want to pay for, and showing them that there is value to it and that our agency, that we truly are different from other insurance agents.” - Josh Lipstone
“One thing that I loved about your book, The Extra Two Minutes was how practical it was. So, it lent itself well to the focus, and the mission of Explaining This Book To Me, which is to be able to provide practical real-life examples, things that people can take away and implement within their sales process or their business, and be able to see results quickly.” - Josh Lipstone
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Josh Lipstone LinkedIn
Lipstone Insurance Group
Explain This Book To Me
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Craig Pretzinger, the Owner and CEO of Pretzinger Insurance Group, and Jason Feltman, the CEO of Feltman Family Insurance. Craig and Jason discuss how they started their podcast called The Insurance Dudes, and share their knowledge and expertise in the insurance world. Episode Highlights:
David introduces Craig Pretzinger and Jason Feltman. (1:36)
Craig mentions that he’s been a captive carrier for about 12 years. (3:30)
Craig shares that he connected with Jason about two years ago, and they talked on the phone about strategy and different marketing ideas. (4:42)
Craig mentions that The Insurance Dudes podcast was their way to meet other agents that were producing more than them and to learn from those conversations. At present, they already have 200 episodes on the podcast. (5:12)
Jason mentions that he’s been in the insurance industry for about 4 years. (7:24)
Craig mentions that at some point, they struggled on getting their podcast monetized. (12:04)
In Craig’s point of view, it has been very rewarding to receive positive feedback from their listeners. (12:23)
Craig mentions that in today’s world and especially in the captive world, there isn't a lot of insight into the analytics people. (17:25)
Craig thinks that the challenge was understanding the tasks that they needed to do, the tasks that they’re doing in their agencies, and that was getting the results. (17:56)
Jason mentions that they started a service that’s the same as what they do in their agency, and it's building a machine to create a virtual line out the door. (38:43)
Jason explains that agency owners have to realize that they wear two hats and the first hat is the agent. There’s a ton of great agents out there, but there are very few great agents that are also great business people. (46:11)
Tweetable Quotes:
“We get the reward of talking to really cool people like you and like just another awesome business dude. And we get to, you know, pick everyone's brain, which I would never have done before, because I wouldn't have the time.” - Jason Feltman
“We all serve an audience, whether it be a podcast, or Insurance Agency, or the bakery down the street, we serve an audience, and we have to deliver it in the way that the clients want it. That's how a business is successful.” - Jason Feltman
“I was constantly hiring, constantly recruiting, doing a million different things, where we've systematized it. We've been able to scale so that it's effortless, and it takes all of that work and pain in the rear that an agency would have if they're going out and doing that, and enabling them just to plug and play.” - Craig Pretzinger
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
The Insurance Dudes Podcast
Craig Pretzinger LinkedIn
Pretzinger Insurance Group
Jason Feltman LinkedIn
Feltman Family Insurance
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss how to build effective carrier and client partnerships from the very beginning and how to establish credibility in the middle market. Episode Highlights:
David thinks that today’s topic is the area where they missed the boat and if you’re new to the middle market, you certainly have no idea that it’s an option. (3:18)
David shares that sometimes, agents don't want to involve the carrier to build the relationship because they're trying to slide a small detail in the underwriting box that's not supposed to be there, and they think that they're benefiting themselves. (4:25)
David mentions that he learned early on that, one of the best points he could do is to include the underwriter as quickly as he could to set your client up for success. (4:51)
David shares that the huge way to gain your credibility with an underwriter is to meet the people behind the account. (5:51)
How does David coordinate that on the audit side of it? Because in Kyle’s experience, most of the auditors aren't coming from the carrier, they're from a third party. (10:21)
David shares one of the reasons why his tasks in the middle market accounts are significant are because it begins with the basis for the risk management action plan, that's going to be executed going forward over the year. (12:12)
Kyle mentions that establishing a better relationship with the middle market is the type of relationship that you should develop. (14:40)
David shares a story about a client he had that was a plumbing company insured by a certain carrier and another client which is an HVAC company insured by the same carrier. (16:17) Davis shares that as you get into the middle market, you have to make sure you're including the underwriters, the claims people, the auditors, and loss control in the process. (25:43)
Tweetable Quotes:
“If you've not written the middle market in the past, you don't know a lot of the things that you have the flexibility to do. And it's not the agent’s fault. It's because, in small business, you just don't get the same kind of resources from a carrier that you do when you're in the middle market.” - David Carothers
“Let's go to what every other agency thinks about if you're not selling on the total cost of risk and you've got a clean account. The reason you take the underwriter out there is for them to touch and feel it. So they can give you the maximum credits on the premium that you need to get the deal done, from a financial perspective.” - David Carothers
“So, you go in, and you have instant credibility. Because you bring these people in, but then it allows the magic to happen where the client is interacting with the carrier team. The carrier teams interacting with the client, and it puts a whole different spin on the relationship, it's no longer financial risk transfer.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Steve Holley, CIC, Owner of Holley Insurance. Steve talks about how he got into the insurance industry and how he built his agency at a young age. He also shares his knowledge and expertise in the insurance industry and technology. Episode Highlights:
David Introduces Steve Holley. (1:31)
Steve shares that he started his agency from scratch in 2000. They’re considered to be a generalist type of agency. (4:19)
Steve mentions that he was only 24 years old when he started his agency. (4:58)
Steve shares one of the latest actions that they did is they gave out some care packages to the police officers in their area. (8:30)
Steve explains that understanding financial stability, the movement of the agencies, and being able to take a few key numbers, are vital. (12:14)
Steve shares that the most recent book they bought was almost 100% personal lines agency, but they also found out that there were some bad risks in it. (15:30)
Steve mentions one of the tasks that has helped them is doing a proactive annual review with every client. (16:55)
Steve thinks that his biggest accomplishment was being able to focus on the market that they wanted being good at serving. They realized they were spending a lot of time with some accounts that weren’t profitable, and it has kept them from doing a better job for the other clients. (25:30)
Steve mentions that they moved everything to Macintosh. They use an iPad as their notebooks and they use the program called GoodNotes, and they can easily import their notes on HubSpot. (39:41)
Steve shares that their texting platform is also integrated with HubSpot and it has been a huge help for them because they don’t need to have many other technologies, and it has simplified a lot in their agency. (40:21)
Steve mentions that he’s also starting to use Vidyard, and it helps him to communicate with his team and his carriers. It’s automatically integrated with HubSpot as well. (41:36)
Steve mentions one of the good features of HubSpot that they’re using is the ticketing system on the service side. (50:09)
Steve thinks that there’s an advantage to using HubSpot because it’s basically built on Salesforce. (56:12)
Tweetable Quotes
“We believe a lot in the community, we are not the guy that's going go out and blitz the area with advertising, and we truly believe in the relationship stuff, it means a lot to us. We intentionally try to be neighborly and community-oriented, and we try to do it in our own way.” - Steve Holley
“If somebody wants to just run the string out on their agency and continue to crank money into their checking account, they can. I think most agency owners, especially if they built the agency themselves, they're probably a little too proud to do that.” - Steve Holley
“We talk a whole lot about sales and systems and tools and all that kind of stuff. If you're not thinking about that kind of stuff in your agency, you know that that's the best way for you to add percentage points to your profit every year.” - Steve Holley
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Steve Holley LinkedIn
Holley Insurance
HubSpot
GoodNotes
Vidyard
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Scott Knowles, the CEO of Modgic. Scott talks about utilizing Modgic Software as a tool in understanding the Mod, Workers’ Compensation, and the sales process. Episode Highlights:
David introduces Scott Knowles. (1:29)
Scott thinks that their expectation was, they’re going to see a massive implodation of the marketplace because of COVID, and in certain different categories of business, they are seeing it as well. (2:56)
Scott mentions that trying to find ways to expand and to get in other markets, has to be the key. (3:18)
Scott shares that he started in the insurance industry about 23 years ago and worked as a direct writer and learned that being a direct writer is different from a regular broker. (4:48)
Scott mentions that his background transitioned from a direct writer directly into being a commercial broker. (6:12)
Scott mentions that the main element that pushes all decisions with everybody you meet at home and business is the financial outcome. (9:52)
Scott shares that if you could figure out a way to reduce the financial outcome and try to show them a visual format of the value proposition is the key. (10:04)
Scott mentions that as a producer, your job is to be an advisor who understands. (17:33)
Scott shares that the whole point of the reports is to fit the needs of different types of individuals in different situations. Therefore, having the Mod and having the ability to verify the experience on Workers’ Compensation is part of the advisory piece. (18:08)
Scott mentions that the purpose of their system is to look at it for a period down the road. Because they must have an incentive to make and take action. (25:49)
Scott shares that Modgic gives you the budget and shows your potential savings which are the two driving forces that make you different as a producer. (28:39)
Scott mentions one of the tasks that they focus on, is their customer service. (39:48)
Scott shares that you have to be careful about the process because most of the producers make a huge mistake about offering solutions. (49:07)
Scott mentions that knowing how to explain how the law works to give Clients advice and provide the financial impact of the claims mod information is where they start to drive. (50:47)
Tweetable Quotes:
“When the market changes, you just don't know what's going to happen. So if you're a specialist, it's really important. But if you're a specialist and don't have a little bit of expanding into other marketplaces, man, you get killed when the market turns off, and you just don't know what's going to happen.” - Scott Knowles
“So, when I came across this challenge, I realized that the best thing for me to do was to lean back on that, and take it to the next level and try to find a way to educate my clients. How can I bring this value to them, and show them that I'm the producer that they want and their trusted advisor?” - Scott Knowles
“We don’t do any marketing, we don’t. Our product grows by word of mouth. We haven't been out there pushing advertisements all over the place. So to start getting those phone calls from these other companies has always been kind of a high for us.” - Scott Knowles
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Scott Knowles LinkedIn
Modgic
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck, discuss how to have the right mindset when getting into an account and closing the deal, and the benefits of being in a community that has the same goal. Episode Highlights:
David shares that there’s a huge problem with agents who think that they don’t have what it takes to compete with the big ones. (2:29)
David shares that if you're dealing with an agency that doesn't specialize in middle-market commercial and they lose an account to an agency that does specialize in middle-market commercial, they automatically lose their mindset. (3:07)
David thinks that some people don’t believe that they’re capable of getting in front of those accounts. (3:40)
David mentions that it’s the community that makes Killing Commercial valuable to everybody and the fact that it's a network, and everybody has the same goal. (7:47)
David shares that insurance is about going in and understanding the problems that these operations have and how you can fix those problems. (9:01)
David shares that they’re working on forming a proposal template that can be customized for all of the member agencies that are in there. (11:45)
David shares that the root cause of the price is never the insurance policies themselves. (15:03)
David mentions that the paradigm shift is a shift in the thought process, and it’s something that you need to learn about and embrace. (15:10)
David shares that if somebody signs an agent of record letter to move your account to somebody else, it’s not a price play. Because they just moved the same policy. (17:30)
Kyle mentions that you have to believe in what you're able to deliver and you shouldn’t base your conversations around the price. (18:43)
Tweetable Quotes:
“I like it when we're going up against the big dogs because, in my head, they're not paying attention as closely as I am to some of these accounts.” - Kyle Houck
“When you're in the middle market, you have to be more than a one-trick pony. You cannot sit here and hang your hat on, ‘I'm going to place your insurance real good for you.’ No, that's not going to work.” - David Carothers
“Understand that insurance is common between you and everybody that you're competing against. The carrier's forms are the same for everybody unless you request changes to be different. But for all practical purposes, insurance fees are the common denominator and the variable is what you do to make yourself different.” - David Carothers
“If you're upset that you lost an account, step back and look in the mirror. The reason you lost the account is 9 times out of 10, staring right back at you. It was the time you chose to sleep in a little bit longer, instead of getting up and doing extra you needed to do to prepare for that meeting.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Mike Crowley, Vice President at Crowley Insurance Agency. Mike talks about joining a legacy multigenerational insurance agency and how he changed the mindset of his traditional home town family agency to one of the most advanced small independent agencies. Episode Highlights:
David introduces Mike Crowley. (1:29)
Mike shares that he’s the third generation agency owner of Crowley Insurance. (1:59)
Mike mentions that he wants to build an agency, where people are welcome to join if they choose to and want to, but they have to earn it. (6:39)
Mike shares that if you're putting your agency in a position to do something, you're not going to have a problem getting business. (21:36)
Mike mentions that you should make certain small changes before you start adding expenses because you might feel disappointed with the result. (25:17)
Mike shares that one of the biggest problems that people have with technology is that they don't want to learn it. Therefore, they don't want to adapt it and get everybody on board. (28:23)
Mike shares that when it comes to acquisitions, they had some successful acquisitions, but it’s because they know the agent, they know the business, and they’re looking to stay in that more local mindset. (35:05)
Mike mentions that most people don't know how to find where the landing pages are, let alone how to customize them. That’s why people don’t take time to learn how to utilize their back end tools. (42:56)
Mike shares that his goal in doing a hundred videos in 100 days, was for the fact that Ryan Hanley called out people that said, nobody's ever done this. (48:40)
Mike mentions that if you can develop educational tools and materials to make it easier for your clients, regardless of what their mindset is, you're going to be successful. (51:53)
Mike shares that he opened his Google Analytics yesterday, and he saw that the top-ranking topic for the past week was the blog that he wrote four years ago, about the difference between an independent and a captive agent. (1:01:49)
Tweetable Quotes:
“You have to learn how to do it, and you have to learn how to do it differently because things are changing rapidly, and your business is not going to be successful.” - Mike Crowley
“During the COVID shutdown, during when everybody started to work from home, or whatever the case may be, we didn't see any kind of pushback or drop because our clients are used to dealing with us” - Mike Crowley
“If you can create a constant flow, where you're constantly putting out videos, written pieces, and all the other stuff is the way that people are going to communicate with you. They’re going to absorb your information so that when they're ready to buy, they know that they're calling you. They know who you are, you built the brand for your niche or territory if you're on a community basis.” - Mike Crowley
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Mike Crowley LinkedIn
Crowley Insurance Agency
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Derek Hayden, CIC, Benefits and Risk Consultant at Dansig Insurance Risk Advisors. Derek talks about working in the partially self-insured arena and their marketing strategies on social media platforms. Episode Highlights:
David introduces Derek Hayden. (1:30)
Derek shares that he started in the insurance industry as a door to door salesman, and he’s been working at the same agency for about 8 years. (05:21)
Derek mentions that being in a small town creates a lot of hurdles, which is why he approaches marketing and social media the way he does. (6:12)
Derek mentions that they’re currently working on their natural transition from benefits to workers’ compensation. (11:38)
Derek shares that they created a safety and wellness program for some of their groups. (13:34)
Derek mentions that he’s foreseeing a lot of issues that are going to be prevalent, due to the pandemic. (20:02)
Derek mentions that groups are terrified with self-funded or partially self-funded, and that became their biggest concern. (20:56)
Derek shares that his agency principles have supported them in building content and marketing themselves to get customers, and they have a vast demographic of owners of different ages, and they're all on board with him and other producers that want to go after it. (33:34)
Derek feels that every agency falls short in getting excited with the new shiny object, and they forget to use their tools, as time goes. (36:23)
Derek mentions that when it comes to marketing, his goal is to be the trusted advisor and the educator of his market. (47:26)
Derek shares that they used their videos as an educational opportunity for them and their prospects. (47:54)
Derek mentions that they developed a regular show in their town called the DNG Show. (48:40)
Derek mentions that they’re also trying to obtain carriers to sponsor some of their social media platforms. (52:45)
Tweetable Quotes:
“I've learned to qualify prospects a little better than I used to but it was a struggle. When you first start, especially in a small town, it’s a small pond to fish from and so anyway, that's why I kind of fell into approaching marketing the way I do now.” - Derek Hayden
“Good thing about being in a small town is I know a lot of people. The bad thing about being in a small town is I know a lot of people. So there's a good chance, if I know him, one of my competitors knows him as well. So that was a huge hurdle for me to get into the business, was relationships.” - Derek Hayden
“There are so many protections in place now, for these small to middle-market groups to go self-funded. It's more of a gamble to be fully insured than it is self-insured in today's world. I mean, COVID has just magnified a lot of those issues.” - Derek Hayden
“I can pick up a tool and play around with it, and I can use it pretty quickly and be successful with it. A lot of agencies and I talk to agents all the time, they get these tools, but they don't know how to use them, and I always use a phrase, you can give a ditch digger a backhoe, but if you don't know how to turn it on, he's gonna pick up the shovel again.” - Derek Hayden
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Derek Hayden
Dansig Insurance Risk Advisors
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck continue to discuss the total cost of risk. They talk about how companies utilize the total cost of risk and how they can relay it to their clients and prospects. Episode Highlights:
David shares his experience when he went to the National Alliance and received his CRM designation. (7:13)
What's the certification process look like? (7:33)
David shares that one of the benefits of using the total cost of risk is that it helps people make informed risk management decisions. (7:58)
David mentions that making informed risk management decisions doesn’t always mean that they are going to be good. (9:19)
David shares a story about the Ford Pinto, where it became a massive hazard because of its design. (9:30)
David mentions that if you know your total cost of risk, you can use it to benchmark your process and have something unquantifiable. (11:42)
David shares that if you know your total cost of risk, you can help in promoting safety and risk management initiatives. (11:54)
David mentions the book entitled Whale Done!, by Ken Blanchard. (15:43)
Kyle thinks that people would respond to rewarding behavior, better than the negative reinforcement of it. (17:29)
David mentions that everybody that is in manufacturing or some kind of a measurable service occupation has a metric for quality. (19:04)
David shares that when you talk to operationally inclined people, they're going to be able to point out not only how they measure quality, but also how they measure productivity. (19:39)
Kyle mentions that the common answer to measuring safety is the number of injuries or frequency of injuries or claims. (20:11)
David mentions that when he calculates the total cost of risk, he shows them how many days they have to operate in an assumed sales volume, and an assumed profit margin to cover that total cost of risk. (21:09)
Tweetable Quotes:
“I’m a big fan of behavioral-based safety incentive plans. I want people to know that we're going to reward them for doing the right things, and it's not expensive, it’s far less expensive to put an incentive program in place when you reward the behaviors you want to see so that people replicate them.” - David Carothers
“You give people attention, and you reward them for the behaviors that you want to see so they will replicate those. But don’t make a big deal about when they're not giving you the right behavior and they're doing the wrong thing, you just simply positively redirect them the way that you want them to go. Because subconsciously, your mind has to replicate those behaviors that get your attention.” - David Carothers
“I think what that shows too is it's not the overly technical stuff. We’re not getting deep in the weeds of insurance stuff. I mean, nothing really, that we've talked about has been even insurance-related other than we talked about the premiums, briefly because it's a portion of the total cost of risk.” - Kyle Houck
“You can tweak it and make it fit whoever you're sitting there in front of. But I think this should help people with that conversation in breaking down what components are actually a part of the total cost of risk and how they're going to impact that individual prospect.” - Kyle Houck
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Cameron Brown, Agency Principal at Insurance Brokers of Arizona. Cameron discusses what drives the success of his agency and how he started his independent agency. Episode Highlights:
David introduces Cameron Brown. (1:31)
Cameron shares his background. (2:03)
Cameron shares that after three years of working in the big companies, he decided to open up his own Independent Agency in April 2005. (6:02)
What made Cameron want to go independent? (6:08)
Cameron mentions that at present, they have over 90 captives that send them business regularly. (7:13)
Cameron opened an independent agency, and he had three years of experience working for a captive before. (7:43)
Cameron shares that as far as learning the independent side, building relationships with the underwriters, was beneficial. (9:17)
What's the worst thing that happened to Cameron, while learning and setting up? (9:53)
Cameron mentions that he has 10 licensed agents working for him as W2 employees, no producers, and he has one VA working for him and he’s ready to bring another VA. (12:48)
Is Cameron following any of the other strategies that he typically sees that everybody’s doing? (15:12)
David shares that one of the things that he learned about the video, was the sequencing of how to get your content distributed the most efficient way possible. (18:00)
David mentions that Ryan Hanley introduced him to the website called Rev. (18:30)
What are Cameron and his team doing on the commercial side to generate new business? (20:30)
Does Cameron have the niches mapped out? (20:59)
David mentions that when you have a lot of your business coming in from referral sources, you have to take the bad with the good and be able to keep the referrals flowing. (21:23)
How did Cameron develop his relationships with the 90 captives? (23:51)
Cameron mentions that he signed up with Podium at the beginning of the year, and it has made things easier for his team. (32:51)
How has technology impacted Cameron’s agency? (34:18)
Cameron mentions that they have a voice system called RingCentral. (35:27)
What’s Cameron’s biggest win, since he had an agency? (38:57)
Cameron shares that joining support groups with a lot of agency owners is beneficial. (42:31)
Tweetable Quotes:
“Just focus on just being around good people, doing what you can for everybody, and helping where you can and just be a good person, you know? So yeah, that was my upbringing.” - Cameron Brown
“For me, it was just that definition of success that just keeps getting pushed back, keeps getting further and further out there.” - Cameron Brown
“One day, you just kind of pat yourself on the back. You’ll be surprised at what you've done, what you've accomplished.” - Cameron Brown
“Join a group that allows you to see what all is out there. It was huge for me to wake up one morning in 2016, I believe, and find out that there's a support group out there, like I owe a, you know, with a bunch of agency owners that can help you out, they've been there done that a lot of people willing to mentor you and help you.” - Cameron Brown
“After 10 or 12 years, I just put my nose to the grindstone blocking everything out. And then aside from that, focus on niches, don't be a generalist.” - Cameron Brown
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Cameron Brown LinkedIn
Insurance Brokers of Arizona
IAOA
Agency Intelligence Mastermind
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Erik Sjolie, the President of Sky Insurance Brokers. Erik talks about how he got into the insurance business and how he started his agency. He also shares the benefits of technology in their agency, and his podcast series entitled Refuse to Be Average. Episode Highlights:
David introduces Erik Sjolie. (1:34)
Erik mentions that he got into the insurance industry in 2007 and became a financial advisor. (2:49)
Erik shares that by the year 2011, he decided to be an independent agency owner, and started as a financial and life insurance agency. (3:36)
Erik shares that when he brought in personal lines, his idea was to recruit life agents because life agents are always chasing first-year commissions. (6:53)
Erik shares that they did a co-branding piece before the actual transition happened and made sure that they’re walking through and letting them know the process. (11:28)
Erik mentions that they have been able to enhance the way they do business because they were a three-person operation and not much technology. (11:49)
What would be Erik’s biggest piece of advice, for somebody who’s planning to make an acquisition? (12:15)
Erik shares that for the last couple of years it's been a very focused effort to use social media, for the benefit of their agency and the community, as well. (16:14)
Erik mentions that technology is gaining fast and he probably spent way more money and time, on systems and applications that he never used or implemented. (23:19)
Erik shares that one of the systems that he settled on is Better Agency, and they’ve been building out service pipelines, and they have the team on board. (24:57)
Erik thinks that they will see a shift when the acquisition market starts to change because some people are fundamentally changing the way they do work. (36:16)
Erik shares that when the pandemic started, he witnessed a lot of businesses in different industries that were having to adapt, and they have seen a lot of closures in their area, as well. (39:41)
Erik shares that they started their podcast, Refuse to Be Average, this April and their topics were focused on the impact of COVID-19 in the industry and business. (40:50)
Tweetable Quotes:
“I think we just found our groove there so I brought on the personal lines. My idea behind that was it was going to help me recruit really good life agents because life agents are always chasing first-year commissions. So it's always going after a billion that book of business and driving those opportunities.” - Erik Sjolie
“I want to see where I'm thriving and build with the agency, the people I've met along the way, the ventures that I've created with people, and that’s what my mindset is going into post.” - Erik Sjolie
“There's so much technology, they're always watching, listening, and I just had to get over that. Because if you go down that hole, you can really scare yourself and next thing you know, I'm living in a one-bedroom cabin in the mountains not talking to you.” - Erik Sjolie
“Let’s focus and really build what our agency needs that can play to our strengths because we have a lot of good things working and what can we do to complement that, and that's really the road we've gone down.” - Erik Sjolie
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Erik Sjolie LinkedIn
Sky Insurance Brokers
Refuse to Be Average Podcast
In this episode of The Power Producers podcast, David Carothers and co-host Kyle Houck talk about understanding the total cost of risk and some of its components and why you need to stop thinking of yourself as an insurance salesperson and start thinking of yourself as a risk manager. Episode Highlights:
What is the total cost of risk? (1:38)
David shares that a lot of people have been talking about the total cost of risk, but there's a huge understanding of what it is. (2:51)
David mentions that insurance premiums are a part of the total cost of risk. (3:39)
David shares that you need to stop thinking about yourself as an insurance salesman or an insurance producer. Rather, start thinking of yourself as a risk manager. (4:45)
Kyle thinks that people get lost in the total cost of risk because it’s broad, and it’s difficult for people to figure out its components. (5:33)
David mentions that there are five parts to the total cost of risk. (6:34)
David shares that insurance premiums are easy to measure hard cost and they’re part of the total cost of risk. (13:52)
David thinks that it’s significant to know that insurance premiums are also the result of how good you can manage the other percent. (13:58)
David mentions that retained losses are information that you have made a conscious decision to retain actively, and actively retained losses are a deductible. (14:11)
David shares that if you don’t involve the carrier, you're not getting a deductible credit on your premium because the insurance company doesn't know, and you don't get the ability to work with their adjusters because, in a deductible situation, the carrier is going to handle all of the adjustment. (16:43)
David thinks that looking at both active and passive losses is vital. (18:43)
David mentions that he has an article that’s coming out in a couple of weeks on, why you want to allocate the cost of risk and the steps associated with allocating the cost of risk. (19:47)
David shares a story about his early years in the insurance industry. (24:06)
Tweetable Quotes:
“Everybody thinks they know what it is. They run around the chatterbox and say, hey man, let me talk to you about the total cost of risk, and at the end of the day, they hand them an insurance proposal.” - David Carothers
“There's got to be measurable things like quantifiable data points that you can use. Otherwise, you just start kind of rambling about the total cost of risk and you're not giving them any specific points or things that are impacting their premium.” - Kyle Houck
“Taking the extra time and the extra steps to not only understand something but be able to articulate that and educate or client or prospect on exactly what it means.” - David Carothers
“I'm not here to teach you how to calculate the total cost of risk to the nth degree of accuracy. I'm here to teach you how you can use it in its most basic premise to drive a wedge and differentiate yourself from the point of sale so you can get a deal closed.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Michael Fusco, President of Fusco & Orsini Insurance Services. Mike talks about his strategies on charging fees and turning it into a revenue center. He also shares his knowledge and expertise in the insurance business and the systems that he’s using in his agency. Episode Highlights:
David introduces Mike Fusco. (1:30)
Mike shares his background. (3:21)
Mike mentions that he was 23 years old when he worked at Geico. (4:38)
Mike shares that working at an independent agency taught him a lot about the industry and construction markets. (5:46)
Mike mentions that when you work strictly on commission, you need to learn how to keep your customers satisfied. (6:08)
Mike shares that his agency is a heavy fee-based agency. (6:49)
David shares that for leasing, one of the biggest issues that you have is you go through all the time, energy, and paperwork to put somebody into a leasing company. (8:07)
Mike mentions that since he started this agency in 2010, they changed the way they disclose fees in California. (9:09)
Is Mike still in that construction industry? (9:40)
What is Mike’s strategy around the fees? (11:33)
Mike mentions that in the My Wave Connect, they charge as much as $1,300 a year, to have access to the portal. (13:18)
David shares that small businesses are the less sophisticated ones, and need access to the portal. (16:06)
Mike shares that most of the big shops have risk management services as part of their offering, and they don’t give it for free. They’re finding ways to generate revenue by providing risk management. (18:03)
Mike thinks that insurance agents need to feel less guilty about charging clients for value-added services. (18:50)
David thinks that it will never get fixed until we make a stand as an industry, that we're not going to settle for anything less than what we're worth. (23:29)
Mike mentions that Trust Layer is an AI system that enables them to manage certificates and subcontractor certificates for our general contractors. (23:53)
Mike shares that when you have higher sales and higher payrolls, your rates are going to be better. (34:45)
What are the other systems that Mike’s agency is using, from automation? (38:10)
Mike shares that he has eight pipelines for sales, five pipelines for service, and he has a couple of pipelines for renewal. (38:45)
How much does Infusionsoft integrate with salesforce, at present? (45:44)
Mike mentions that Epic is huge for accounting, downloading, and putting policies in tracking. (46:53)
Mike shares that he’s starting a podcast, Team Business, which will have a team-based theme. (49:25)
Key Quotes:
“We shoot ourselves in the foot as an industry because we're professionals. We’re just like a CPA, we're just like an attorney, we bring a value proposition that people need to have and we might not be a fit for everybody. But why are we so afraid to charge what we deserve to charge?” - Mike Fusco
“We don't have to earn every customer, but they need to know who we are and what we're charging. They need to know what they're gonna pay us and we're not going to falter on that. I mean, that's what we do.” - Mike Fusco
“Clients are still in the lifecycle and still in the opportunity cycle of us landing on their desk and then buying policies from us. If we educate them properly, if we show them the value of using an independent broker, someone who they have to pay for their service, it might be more expensive. But this is what we're going to do for you that buying online is not going to do for you.” - Mike Fusco
“I love talking to anyone in our industry. I love the people that are involved in this business. There's some really good stuff out there.” - Mike Fusco
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Michael Fusco LinkedIn
Fusco & Orsini Insurance Services
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Tony Alessandra, CIC, CWCA, Agency Principal, and President at Insurance Solutions. Tony talks about how he got into the insurance business and how he has built and navigated strategic alliances that have contributed to his success. Episode Highlights:
David introduces Tony Alessandra. (1:30)
Tony shares his background. (3:30)
Tony mentions that his father started the agency 53 years ago. (3:31)
Tony shares that he and his father shared an office and they both started their insurance careers doing personal lines insurance. (4:39)
Tony shares what he learned from his father and from buying his agency 23 years ago was his strategy to develop a new business like no other. (4:47)
David mentions that his fundamental belief is, you must have a way to get organic business. (9:43)
David thinks that to grow an agency, you have to be a five-tool player. (10:27)
Tony mentions that it's not easy to build out alliance networks, because it takes a lot of time to build up a reputation. (11:13)
Tony shares that he was interested in diversifying and creating a more balanced approach. Therefore, they didn’t develop any business digitally and they didn’t need direct mail. (11:29)
David mentions that Kyle is like the payroll king of working with payroll companies. (12:52)
Tony explains strategic alliances. (14:05)
Tony mentions that the only thing he learned quickly, from engaging with Killing Commercial is that he’s bad at writing a business plan. (18:27)
Tony shares that financial advisors appreciate it when you’re doing risk analysis for them, and help them determine where their fatal coverage gaps may be. (20:15)
How did Tony build the strategic alliance network? (21:56)
Tony mentions that the first process is to connect with the one you know or the one that's working and serving your client. (24:51)
Tony shares that they had situations where the carrier has loosened up their underwriting restrictions and they've taken the business back. (27:28)
Kyle mentions that doing the right thing and being trustworthy, would be beneficial in growing those referral relationships in your book. (27:52)
Tony shares that their unique selling proposition is all about creating an achievement, protecting their book of business, and helping them make more money. (30:01)
Why is it hard for people to ask for referrals? (30:48)
David mentions that booked appointments are significant. (36:34)
Tony shares that the way to become a trusted advisor is by getting to know more about them and making those deposits to help them get what they want. (45:07)
Tony shares that the insurance industry is recession-proof, essential, and a good opportunity to be in. (48:19)
What was Tony’s worst experience that he ever had to deal with? (52:42)
Tony mentions that a way to get into the business, get an agency that you can partner with that has some expertise, understand some of the nuances, and techniques are vital. (1:00:06)
Key Quotes:
“I only have so much time in my life and my day. So let's go after our top 50 accounts that generate 95% of our revenue, and reactivate the ability to ask for a referral because we're going to go after them. And building a moat is all about connecting with them deeper, creating more value, reassessing where they're at.” - Tony Alessandra
“I'm sitting here looking back and saying what got what worked. It wasn't network networking groups, and it wasn't stealing employees from my competitors. It's growing people organically and truly pouring into their lives, giving them an opportunity, creating value for them that they didn't see as they bounced around from job to job and didn't have a career opportunity.” - Tony Alessandra
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Tony Alessandra LinkedIn
Insurance Solutions
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about the Broker of Record letter, how it can be utilized as a tool in the industry, and why a lot of people see it as a devil in the insurance industry. Episode Highlights:
David mentions that he loves the broker of records, but a lot of people don't. (5:38)
Kyle mentions that the broker of records letter is a wonderful topic. (5:43)
David explains why people don’t like it. (5:49)
David shares that a small percentage of agents and agencies are a little bit sly with how they present a BOR. (6:15)
David mentions that the BOR is a tool that was developed by their industry. (7:33)
David shares that he doesn’t understand why an agent should think that they can do a poor job, or deliver average results and retain an account. (8:08)
David shares a fun fact. (8:36)
David shares that the reason why agents get upset is that they don't realize, they're inadequate in what they're delivering. (10:09)
David mentions that in this period, you have to understand that you can’t be a salesperson and retain your accounts. (10:45)
Kyle mentions that customer service is expected. (11:34)
David shares that from a claim standpoint, they're managing the loss ratio in their book of business with the carrier because they want to make sure they get their own profit-sharing and contingencies, at the end of the year. (12:42)
David gives an example of a man that was complaining about a longtime account that started with him. (12:59)
David mentions that the cheapest insurance policy is typically the most expensive, in the long run. (15:10)
David shares that you cannot tie your compensation to the sale of a product, you are not a trusted adviser in that role. You are a salesman or a saleswoman, in that role. (15:32)
David mentions that if you don't want to lose your business, work to keep it. (19:13)
David shares that simply because you're doing the work that needs to be done to improve premium losses, doesn’t mean your client knows you're doing that. (22:06)
David mentions that if you can’t provide graphics or something that they can touch and feel in real-time, your account could be in jeopardy, all the time. (22:36)
Tweetable Quotes:
“You can only go so low on the premiums, you can only get so many discounts and multi-line, or whatsoever. I mean, once you're on the floor, you're on the floor. If that's all you're going in with and you have no value then, of course, you're going to get that swipe.” - Kyle Houck
“The problem is insurance salespeople, agency owners that focus on selling insurance and not delivering value, have to understand that it’s not smoke and mirrors, people. That's a value proposition.” - David Carothers
“Everybody else out there, brokers of record letters, are not the devil. Quit selling insurance and start delivering value. Quit doing customer service and start offering an awesome client experience. That's it. It's not rocket science, you just got to get off your rear end and do a little something, once the deal is done.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview the Co-Founders of GloveBox, Ryan Mathisen, and Sean Mulhern. Ryan and Sean discuss how they got to this point in their career and how they developed the GloveBox App. Episode Highlights:
David introduces Ryan Mathisen and Sean Mulhern. (1:30)
How did Ryan and Sean get to this point in their career, where they developed an app, and distributed it to agencies all over the country? (2:18)
Sean shares his background. (2:26)
Sean mentions that Ryan, together with his brother and father, owned an agency in Colorado. (2:46)
Ryan shares his background. (3:16)
David thinks that some of the best technology for the insurance industry comes from agents who figure out a way to solve a problem that they face every day. (7:24)
What were Ryan and Sean’s tipping point, where they needed to find something that they could develop? (9:17)
Sean shares that it's tech being thrown at a problem, but they didn't know what the actual problem was because insurance is a nuanced sale, and it’s very unique. (9:51)
What are the three biggest issues that Ryan and Sean wanted to solve by developing the app that made their lives ultimately easier, as an agent? (10:55)
Ryan mentions that the biggest piece is looking at what clients can truly handle on their own without needing an agent, which is the bulk of the service work on personal lines. (12:13)
Ryan shares that they have never made themselves a referral to the independent channel. Therefore, being able to refer your agent, on social media or a direct one on one conversation is huge. (12:52)
What’s the “Refer My Agent” button process look like, and how has that become a game-changer? (13:15)
Ryan shares a great feature of the button. (13:55)
Sean shares that the apps from other carriers or AMS were not doing a good job of putting the brand front and center. (16:39)
Sean mentions that the first link that the client will see is a branded page, built for their agency. (17:36)
What does the process of customer service look like on their app? (22:41)
What’s the story behind the name of the app? (29:08)
What other developments might Ryan and Sean be adding over time that aren't where they need to be right now? (30:23)
David mentions that his fundamental theory on anything regarding the agency world is agencies are running their businesses wrong, by and large. (36:22)
David shares that they have a plugin for HubSpot called Sakari, and it’s a texting platform. (44:23)
Does the GloveBox app have the ability to home inventory? (54:36)
Tweetable Quotes:
“We want to challenge the industry to stop talking about customer experience and make moves to enhance the customer experience. Because at the end of the day, that's what we see last on the pecking order with organizations inside the industry.” - Ryan Mathisen
“We would certainly love to talk to you and show you the value of GloveBox, and where we're going because we are changing the independent channel. It's not going to be the same.” - Ryan Mathisen
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Ryan Mathisen LinkedIn
Sean Mulhern LinkedIn
GloveBox
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Brett Young, CEO at Erb and Young Insurance. Brett talks about his journey into the insurance industry and the path that led him to build an insurance agency. He also shares his podcast entitled, Be Extraordinary Podcast. Episode Highlights:
David introduces Brett Young. (1:30)
How did Brett get into the insurance industry and what’s the path that led him there? (2:06)
Brett shares his background. (2:11)
Brett mentions that he’s always dabbled with entrepreneurial ideas and always run different types of businesses. (2:25)
David thinks that sometimes, we lose focus of the fact that we're building something that's way more valuable, than any check that we're going to get over the year. (8:20)
Brett shares that he’s a guy that grew up, had different kinds of jobs and was always the lazy guy who was viewed as the person that just didn't like to work. (9:35)
What does Brett’s routine look like, today? (11:18)
David thinks that being an entrepreneur is not a skill, and being an entrepreneur is not a skill that can be practiced. (13:25)
David explains the difference between entrepreneurial and leadership. (14:05)
Kyle thinks that the way to reach success is an ever-changing process. (15:56)
Brett thinks that entrepreneurial tick is somebody who enjoys risk and uncertainty is something that they crave. (16:36)
Brett mentions the epitome of entrepreneurship. (19:34)
David mentions that his number one rule is not to hire a producer from the insurance industry. (20:42)
Brett mentions a book entitled Extreme Ownership: How U.S. Navy SEALs Lead and Win, by Jocko Willink. (33:06)
Brett believes that there are two skill sets of entrepreneurship and those two skill sets, are the pillars to building any business. (33:54)
What’s the focus of Brett’s agency? (35:48)
Brett shares that his business partner Rod Erb, manages the commercial side of their business, and he has a lot of experience in the medical space. (38:04)
What were Brett’s goals, on the culture side? (40:28)
Brett mentions that he’s a huge advocate for personal development. (41:24)
Brett believes that progress is equivalent to happiness. (42:33)
Brett shares his podcast entitled, Be Extraordinary Podcast. (47:58)
What’s the best story that’s coming out from Brett’s podcast? (51:08)
Brett mentions that patience is significant in the insurance industry. (1:01:16)
Tweetable Quotes:
“I think so many times we look at what the career is, but we forget to look at what your day looks like. My dad was always good about saying, what's your perfect day look like? And then once you find out what that is, you can figure out what type of career you want to be in.” - Brett Young
“Our whole livelihood in our agency is to give people the opportunity that was once given to us and given to me, and there's nothing that fills me up more to watch the light bulb come on for people in that same situation.” - Brett Young
“The absolute epitome of what entrepreneurship is, is the courage to start something that you don't necessarily know how it will end, the courage to start something knowing that it probably isn't exactly where it will end up or where it should be, but the ability to be able to run and then figure it out” - Brett Young
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Brett Young LinkedIn
Erb and Young Insurance
Be Extraordinary Podcast
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about the significance of understanding the service fee and why it’s considered as a great tool. Episode Highlights:
David thinks that it’s significant to understand the difference between the fee for service as an agent and charging broker fees. (2:03)
David shares that he learned about service fees from the first agency that he worked at. (3:58)
In terms of service, did David plateau at some point? (4:55)
David shares a story about an international restaurant chain that they represented. (4:59)
David explains why he does service fees. (10:05)
David shares that another primary example of people who charge fees are agencies who do non-standard auto. (12:13)
David mentions that the issue they run across in Florida when they have that conversation is that they can't charge a fee and take a commission on the same policy. (14:08)
David mentions that it gets a little tricky when it comes to workers’ compensation because the rates are mandated by the state and the commissions are already built-in. (14:44)
How would David determine who’s a good fit for a service fee? (16:32)
David thinks that the accounts that are a good fit for the service fee are the ones with $25,000 to 50,000 in agency revenue. (17:11)
David learned that HVAC companies are not good candidates for service fees. (18:00)
DDavid thinks that it’s significant for agents to understand that you can be more creative, with how you're compensated with a fee. (21:09)
David shares that the fundamental philosophy is to get into an account early when you're not going to be able to get commissions. (27:11)
David mentions that once renewal hits, your commissions will be stripped out of the renewal, and you’ll recover the money that you've spent ahead of time paying them a service fee. (28:43)
Tweetable Quotes:
“There's no reason for you to continue to get paid more and more money just because they're growing when you're not doing more work at the same rate at which they're growing.” - David Carothers
“I'm gonna put some skin in the game, I'm going to show them that I want to invest for the long term, and I'm gonna explain this to them. Point blank, I have no problem covering what my compensation is for the agency when I'm talking with anybody.” - David Carothers
“If agents don't know that, that exists in the middle market, it's highly likely that the clients also don't know that that exists in the middle market. And so I can go in and explain why it makes sense.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Aurora Mullet, Owner of Intrinsic Insurance Services. Aurora talks about how she found her way in the insurance industry and how she built an independent insurance agency. Episode Highlights:
David introduces Aurora Mullet. (1:35)
David mentions that he was intrigued by the agents in California who are dealing with issues that are similar to a hurricane. (1:52)
Aurora shares her background. (2:12)
What pushed Aurora in the sales direction? (2:56)
Aurora thought that a salesperson was similar to a car salesman. (3:13)
Did Aurora willingly go into being a cross seller? (6:50)
How did Aurora become an Independent Agency Owner? (7:52)
Aurora explains wildfire insurance. (11:55)
Aurora shares why she stopped writing business in Florida. (14:34)
David mentions that if it's not something that he’s comfortable with, he’s risk-averse enough that he would rather give it to an expert. (16:09)
Aurora shares that most people were pleased that they found an option that will allow them to keep their homes. (17:51)
David thinks that what Aurora said was a universal principle, regardless of what you write. (18:08)
Kyle shares that when you’re on the service side, you’ll be able to apply it to your producer role, where you’ll know a bit more about how the policy works and what it should be. (18:17)
What does the open network that Aurora built look like, and what made her do it? (20:32)
What would Aurora say the amount of premium looks like that changes hands back and forth, from the referral network? (23:24)
David explains the two classes of people, a problem solver, and a product salesman. (26:09)
Aurora shares why she was known as “The Hagerty Girl”. (27:25)
Aurora mentions that Nick Ayers taught her how to figure out her target markets, how to locate them, and hyper locate them when she’s at shows. (28:52)
Aurora shares that it gave them the ability to drive the business and everything that came from it, grew outside of their niche. (29:02)
What does Hagerty Insurance do? (30:00)
What are Aurora’s other niches, outside the Hagerty? (35:13)
How does Aurora manage her loss ratio, with all the classic and exotic cars? (36:25)
Aurora shares that they’re setting up, they brought Better Agency, and they’re bringing a VA for the same concept. (47:19)
Has Aurora found the path to be more resistant in this industry, as a female agency principal or a female producer? (51:07)
Aurora shares that some people need to realize that if they take help from a woman as a man, they’re not weak. It’s a process that they have to go through, internally. (52:26)
Tweetable Quotes:
“After seven years, I looked around and saw that my salary wasn't increasing, my responsibilities were increasing, my knowledge of how to run the agency was increasing. And I finally just decided that I didn't want to make that money for other people.” - Aurora Mullet
“Being in the niche portion of it, I feel part of my job to be able to serve customers is to know the marketplace, not just know my marketplace, but to know all options that are out there.” - Aurora Mullet
“I probably get about 15 instant messages a day from agents going, where do I place this, what do I do? So that's not just high fire, it's any property in California, farm, or whatever it is.” - Aurora Mullet
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Aurora Mullet LinkedIn
Intrinsic Insurance Services
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Mariah Davis, President and Owner of Oakview Insurance Services, Inc. Mariah talks about her journey from being a captive agent to an independent insurance agency owner and how she built her agency. She also shares the struggles she faced that made her stronger and better. Episode Highlights:
David introduces Mariah Davis. (1:31)
How did Mariah get into the insurance business? (2:54)
Mariah shares her background. (3:10)
Mariah mentions that when they joined the PIIB and IAOA, their agency sored, and changed everything about how they handle their business. (6:39)
How long has Mariah been an independent insurance agent? (9:19)
What led Mariah to be an independent insurance agency owner? (9:24)
Mariah thinks that it’s essential to have district managers in the insurance industry. (10:04)
What was Mariah’s biggest challenge during her transition? (13:39)
Mariah shares that some groups like the Mastermind and IAOA, are vital to getting the independent channel to talk to each other. (20:17)
David thinks that there's a tipping point where people finally, were raised in a way where collaboration made more sense than it did a long time ago. (20:49)
Mariah mentions that the world’s current situation is a great time for them to start going in and tweak on different ideas to smooth it out and help them grow faster. (27:06)
Mariah mentions the Shiny Object Syndrome. (29:15)
Mariah mentions that it’s vital to change your workflow. (30:39)
David shares that there are a lot of good tools out there. But if you buy them and you don't know how to use them, you might as well take your money and throw it out the window. (31:41)
Mariah shares that in December of 2019 she was diagnosed breast cancer. (35:52)
David shares one of the most horrific situations he has had to deal with. (40:27)
Mariah mentions that she has her struggles, but the nation is also struggling with the pandemic and the ramifications of it. (42:23)
Kyle shares a story about his newborn baby. (43:41)
How many treatments does Mariah still have to undergo, before she can ring the bell? (47:16)
What makes Mariah’s agency unique? (48:20)
Mariah mentions that they have ingrained themselves in the community, as much as possible. (51:10)
What does Mariah’s strategy look like? (51:54)
Mariah mentions the Susan G. Komen Foundation. (57:23)
Tweetable Quotes:
“I decided to go independent and had my eyes open to the whole other side of the world here, and found out how little I knew about both insurance and being a business owner.” - Mariah Davis
“District managers have to put up with so many new agents a year. And, you know, sometimes I think they're just trying to hit numbers. And if you fog the mirror, great, you know, we'll put you up. We'll see if it works.” - Mariah Davis
“I was spread too thin. I quickly realized that I couldn't be everything to everyone, and they were requiring me to be and it just wasn't gonna fly. So yeah, I kind of decided to make that hop over, and I have had this independent agency for 10 years now.” - Mariah Davis
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Mariah Davis LinkedIn
Oakview Insurance Services, Inc.
Susan G. Komen Foundation
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about their per hour work rate and the significance of staying in your lane. Episode Highlights:
How much is Kyle’s work rate per hour? (1:30)
David mentions that he made four dollars per hour at his first job. (1:53)
David shares a conversation he had with someone about the Grain of Salt theory. (2:47)
David mentions that back in the day, minimum wage was as low as it was because there wasn't much of a change. (4:36)
What’s the current minimum wage? (4:46)
David shares that this episode precipitated from a conversation that he had with a guy about the significance of staying in your lane. (6:02)
David thinks that a lot of people don’t stop and think about their rate per hour. (6:16)
Kyle thinks that the only time you do it is when it takes a long time to get the deal done. (6:33)
David talks about the conversation that he had with a guy that he knows well, but he’s not going to mention his name, and the guy was talking about his staffing company. (6:41)
David shares that the guy was blinded by the premium, but he wasn't seeing that he was the fifth agency those people had. (7:24)
In David’s opinion, if you take your time on the front end, it's not like you're investing days of your life. (8:37)
Kyle thinks that getting blinded by the premiums is natural. (9:27)
Does Kyle know someone who knows how much they make per hour? (9:38)
David thinks that if you're a producer, and you're not keeping a log of your time, you're ruining it. (11:37)
Kyle thinks that he ends up losing his time when he has to deal with the smaller business that’s either been referred to him or spending his time quoting, or answering questions and phone calls from them. (12:26)
David shares that if you want to be a trusted advisor and you have a value proposition, you have to identify your work rate per hour and figure out on the front end if those deals are worth your time. (13:15)
Does David have other formulas? (14:17)
Kyle mentions the only issue that always drives him crazy is when the insured is not willing to give the correct information. (17:15)
David mentions that once you've been in the business for a bit, once you've done some research, and you've been on a few calls, you know who you're going to have success with. (18:34)
Key Quotes:
“I got a raise to five bucks an hour and I thought I had made it.. I thought I'd made my ascension into the aristocracy at that point. It was fantastic. I was 15 making five bucks an hour. That was like legend status at that point.” - David Carothers
“You've got to define who you want to go after. And don't deviate from that.” - David Carothers
“I think that's where we fall, man. We have such an opportunity to be in a lucrative occupation where you're gonna just score serious coin if you write the right type of stuff, that we don't stop and look at efficiency and how we're investing our time and what we're doing.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Jeromy Huerta, President at Heritage Insurance Inc. Jeromy talks about his career in the insurance industry and how he got into the insurance business. He also shares his knowledge and expertise on how to acquire agencies, and make them grow. Episode Highlights:
David introduces Jeromy Huerta. (1:29)
Jeromy shares his background and his career in the insurance industry. (3:26)
How does the restaurant stay open if they have one customer every two months? (3:59)
Jeromy shares that his love and passion for sports didn't leave him and because of that, he ended up playing at a junior college community, in Washington. (5:38)
How did Jeromy get to where he is now, in insurance? (13:53)
Jeromy shares that Heritage has started to expand in other states and what’s great about it is that he could hire people from other states. (16:44)
What kind of niches is Jeromy working on? (18:33)
Jeromy mentions that he just acquired another agency a month ago in Phoenix. (21:38)
How did Jeromy end up in Phoenix and Washington, while the other agency he recently acquired is in Arizona? (22:41)
How does Jeromy go about integrating it into what he has now? (26:10)
How often does Jeromy have to go back and refer to the paperwork? (29:10)
Jeromy mentions that it took him three years to switch the branding in the Scottsdale location because it was a classic insurance company. (29:58)
What's the average age of these agencies? (31:15)
David shares that currently, most of the mainstreet agencies have good appointments with carriers that are difficult to get appointed. (32:05)
Jeromy shares a story about a deal that he was closing in Washington. (32:40)
How does Jeromy go about funding? (37:13)
Jeromy explains SBA loans. (38:09)
David shares a little bit of his guerrilla warfare, from a marketing standpoint. (44:39)
David shares that part of their industry that he likes, more than anything else is that the longer it takes him and the more strategic he has to be to get a deal done, the better. (49:00)
What has Jeromy learned from the first acquisition that he made, through where he is today? (50:20)
What advice would Jeromy give to agency owners that are looking to the acquisition game? (50:31)
Jeromy shares that he learned that it’s essential to evaluate and ask all the questions beforehand of the setup of the agency, and find out everything that you need to know about the daily operations. (51:17)
Tweetable Quotes:
“I played and I had a chance to play longer but, it's kind of like how my mind sees things better but the body just isn't the same.” - Jeromy Huerta
“We’re working now to refine how we go after those people, the psychology of those people where they’re shopping, what messages are they wanting to hear, and what's going to bring them in.” - Jeromy Huerta
“We had things in place, we just needed some direction, and I don't care if I know everything, I don't want to know everything. I'm going to find people that are better than me.” - Jeromy Huerta
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Jeromy Huerta LinkedIn
Heritage Insurance Inc.
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interviews Teresa Kitchens, Owner and Agent at Sterling Insurance Group and host of the Power Women In Insurance podcast, and Denisse Bravo, Owner and Vice President at Bravo Insurance Solutions. Teresa and Denisse discuss how they got into the insurance business and how they built their insurance agency. They also share their knowledge and expertise in the insurance world and the IAOA subgroup they have created. Episode Highlights:
David introduces Teresa Kitchens and Denisse Bravo. (1:33)
Denisse shares her background and her career in the insurance industry. (2:25)
Teresa shares her background and her career in the insurance industry. (8:57)
Teresa shares that as an advisor, they’re educating, teaching, and they’re capable of connecting with everyone, wherever they are. (11:47)
What does Denisse’s agency look like, and what kind of business does she write? (14:33)
David thinks that if you’re a P&C agent and calling on business owners, you should have the buy-sell agreement conversation with them, immediately. (19:55)
Denisse believes that they have some kind of a mass exodus, on the life and health side. (23:09)
What does Teresa’s agency look like? (23:51)
Teresa shares that she started a podcast called Power Women In Insurance. (35:38)
What were the biggest challenges that Teresa and Denisse faced, and no holds barred? (38:09)
Teresa mentions that sometimes, people take different advantages of a woman than they do, from a man. (54:14)
Teresa shares a short background about their group. (57:30)
Teresa thinks that positivity is one of the overall resounding things that their group is bringing to the table. (58:14)
At this moment, how many members do Teresa and Denisse have in their group? (58:30)
Denisse shares one thing that she loves about the women of IAOA is that they're not pulling punches. (1:00:07)
Teresa shares that they need to make sure that everybody feels like they have a voice, and make everybody feel that their contribution is essential. (1:04:05)
Tweetable Quotes:
“I loved being a teacher, I loved being a stay at home mom, and I love insurance. It's really weird, but I got in on the back door and you know, I've been able to have a lot of fun in the process.” - Teresa Kitchens
“I'm going to hit that first question that you asked, what is the biggest problem? Okay, women are expected to work like they don't have children, and mothers are supposed to act like they don't work. In a nutshell, that's what the difference is.” - Denisse Bravo
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Teresa Kitchens LinkedIn
Sterling Insurance Group
Denisse Bravo LinkedIn
Bravo Insurance Solutions
Power Women In Insurance Podcast
The Women Of IAOA Facebook Group
Insurance Agency Owners Alliance
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss how you can relate issues to your clients or prospects in defined terms, and how you can calculate the total cost of risk. Episode Highlights:
David mentions that there’s a gentleman who's currently recruiting for an insurance sales representative in his branded office. (2:00)
David thinks that most of the time when they get in front of their clients, we start explaining, and expect them to understand insurance jargon. (3:17)
David shares that a lot of people don't do the total cost of risk, but if they’re going to do it, they must understand the calculations. (4:14)
David mentions that it’s significant to give those calculations to the client in a way that’s directly tangible to their business. (4:37)
David explains how to calculate the total cost of risk. (4:48)
David shares that he’s been in situations where he had clients that are over 100 million a year in sales that weren't willing to give him the sales figures. (6:10)
David mentions that you should always go high on sales, and always go high on profit. (7:09)
How does David estimate their sales? (7:46)
David mentions a scene from Jim Carrey’s movie called, Liar Liar. (13:26)
David shares that every time he’s in a meeting, he always thinks about that scene. (13:36)
Kyle mentions that David has more experience in the insurance world than him. (16:22)
David shares that they use frequency and severity rates, for calculation. (18:07)
David mentions that when they do the Mod analysis, they’re relating to somebody in defined terms. (18:30)
Kyle mentions that you don't get very much more defined than the ModMaster. (19:51)
David mentions that they’re in the process of placing subcommittees for each department. (20:48)
David shares that one of the subcommittees they have is on graphics, and they’re working on creating a proposal template for any kind of middle-market company. (20:58)
David mentions that from a service standpoint, you need to define what you're going to do. (22:11)
David shares that the same big brokerages that are taking business from insurance salespeople are the same big brokerages they’re taking business from, every single day. (24:51)
Key Quotes:
“So you know, a lot of people out there don't do a total cost of risk, I get it, we're trying to change the world, one recovering agent at a time. But, you know, if you're going to go in with the total cost of risk, you need to understand that calculation. But you also need to understand how to articulate what that calculation is to your clients.” - David Carothers
“It goes back to the difference between selling somebody a product and solving a problem. You're going to tell them premium, but you're not going to talk about all the other stuff because quite frankly in many cases, agents don't know that other stuff in the total cost of risk calculation.” - David Carothers
“Setting expectations for clients is paramount. Because if you don't set them, they're going to formulate their own and they may not be even remotely close to reality.” - David Carothers
“What I'm going to tell you is customer service. It doesn't cut it. Customer service is the expectation. If you can't talk to people in defined terms that they can understand that relates to the sales and profitability of their business and give them results in an awesome client experience, you're done. You will lose every single time.” - David Carothers
“The revenue that you lost by that account leaving you is the tuition that you are paying to never have to learn to never have to deal with this again.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Craig Martyn, Founder and President at My Metal Business Card. Craig discusses how his experience, expertise, and passion for making products has led him to create his brand and his ability to provide a modern business style. Episode Highlights:
David introduces Craig Martyn. (1:24)
Craig shares his background and his career. (2:31)
Craig mentions that he is passionate about making products. (3:01)
Craig shares that he started his metal business card because of his passion for design and the chemical etching process. (3:30)
Craig mentions that on their website, every year they post a blog about the progress of their company. (5:04)
Craig thinks that what they do is a much higher level of impact and quality. (6:04)
Is Craig still in the model train business? (6:20)
When Craig decided to launch his product, what other social media platforms did he use, besides Facebook? (10:33)
Craig mentions that he’s passionate about the product just as he was about the model trains, and he thinks that they’re helping people. (13:26)
Has Craig done anything on YouTube? (14:58)
David talks about internet advertising. (16:04)
Craig shares that his company is a B2B, and they’re dealing with a lot of businesses. (17:59)
Craig mentions that they want the people to trust their product and trust them, as well. (21:07)
Craig thinks that everybody that orders will have a positive impact on their business. (21:24)
David mentions that in e-commerce, the first battle that you have to win is to get the person’s name and address. (22:53)
Craig mentions that he has a personal app on his phone that can check their numbers, anywhere in the world. (27:21)
Is Craig starting to see traction in some of the other cards? (35:12)
Craig thinks that they have all the systems in place to help people have a fluid process, whether it's the artwork, the production, or the shipping. (39:58)
Craig mentions that in the future, they will launch a website strictly for tumblers and other products. (40:14)
How does Craig do it without becoming a promotional product company, and fit into where he wants to be? (40:36)
What's the coolest project that Craig has done so far, custom wise? (45:08)
Craig talks about his Jim Beam project back in 2015. (46:08)
Craig mentions that he also did metal business cards for Mike Tyson’s production company. (46:31)
David mentions that If you're interested in using these cards then, by all means, you should request samples. (52:52)
Craig mentions that there is a lot more work that goes into creating metal business cards than there is with paper. (53:55)
Tweetable Quotes:
“It revolves around passion, right? So when you're in something, whether it's sports or whatever, it's a hobby, but there's a business side to any hobby.” - Craig Martyn
“It boils down to our whole mission is to give people the means to stand out, and leave a memorable impression.” - Craig Martyn
“Let’s put it this way, we have a vision of a world where anybody related to business, has seen or touched a metal business card. At this point, a lot of people still haven't seen or touched a metal business card.” - Craig Martyn
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Craig Martyn LinkedIn
My Metal Business Card
My Metal Business Card YouTube Channel
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Hal Soden, Jr., CPCU, AAI, CIC, CRM, Principal, and Risk Management Advisor at Oliver L.E. Soden Agency. Being the fourth generation in their agency, Hal shares his knowledge and expertise in the insurance business and explains how their services have changed as technology, and business practices have changed. Episode Highlights:
David introduces Hal Soden. (1:28)
David talks about the conversation that he had with Scott Howell from The Insurance Guys Podcast. (1:58)
Hal shares his background. (5:04)
Hal mentions that he’s the fourth generation of their agency and it all started from his great grandfather. (5:28)
Hal shares that his father and his uncle introduced him to commercial insurance. (6:08)
Hal mentions that back in the day, he had to beg people to write their insurance. (9:49)
How’s Hal’s experience been as an agency owner? (13:37)
Hal shares that working with his father went well because they balance out each other. (14:48)
Kyle thinks that people don’t completely understand the volume of different industries or positions there are in sales. (17:24)
In Hal’s opinion, he sees it more as selling himself or selling his services, than selling insurance. (17:48)
Hal thinks that most of the sales are about problem-solving and being good to people. (18:17)
David shares that his experience in working with his father was very educational, very refining. (19:18)
Hal shares that his father let him do what he wants, that’s why he was very engaged in directing where the agency was, and that has helped him a lot. (20:45)
David mentions that Hal may have more ZyWave products than they do. (24:09)
What are Hal’s other niches? (24:24)
Hal mentions that his first niche was HVAC Mechanical Contractors. (27:27)
Hal shares that Ohio Casualty was their first major insurance point which became peerless, and currently is part of Liberty Mutual. (29:11)
Hal mentions that he’s the incoming chairman of the Big I New Jersey. (33:00)
David shares that his first two employees were ModMaster and Broker Briefcase because he knew that he could get in front of people, and close the deal If he had those two resources. (43:04)
David mentions that if anybody has read Thomas Stanley’s books, they would be a millionaire. (44:18)
What’s the most creative way Hal has used ModMaster, to get a deal done? (48:45)
David shares his most creative way of using ModMaster. (49:14)
Did Hal lose a bet when David watched him walking through a fire pit in innovation? (1:02:14)
Hal mentions that most people might assume that he’s a risk-averse person but he's not. (1:03:39)
Tweetable Quotes:
“I was thinking about my typical line to people that how I got into insurance was that I was tricked into insurance.” - Hal Soden
“If a carrier comes out with something that they’re best at, I don't mind targeting that. Especially if it's not too far from what we do. There's still certain things I'm going to turn down, no matter what.” - Hal Soden
“We’ve got to get better though, and part of the reason I joined your course is because my weakness is marketing. I am very good at closing, you can hand me most accounts, if I get in front of them, I'm probably going to write it.” - Hal Soden
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Hal Soden LinkedIn
Oliver L.E. Soden Agency
Big I New Jersey
In this episode of The Power Producers podcast, David Carothers and co-host Kyle Houck share some of their personal experiences with disclosing commissions. Episode Highlights:
David shares a story about last night when he was up working until almost four o'clock in the morning. (1:56)
Has Kyle heard the story about David and Steven Stamkos at the Philadelphia airport? (2:34)
Kyle feels that a lot of people don't really recognize hockey players. (4:07)
David mentions that a little while back, he was in a thread regarding commissions inside of one of the agency groups that he’s in. (6:44)
David shares that it was interesting because the top of the thread was an agency owner complaining that one of their clients asked them how much they made. (6:55)
David mentions that he’ll tell the client or the prospect that his absolute favorite thing to talk about is his personal compensation. (8:18)
Kyle shares that the only scenario he can think of where people are not going to do that is if they don't have a value proposition. (9:30)
David mentions that there are states where you're required to disclose your compensation. (10:09)
David shares that he has a sheet that shows what their commissions are for every line of coverage that they’re placing for someone. (10:21)
What would be Kyle’s response to a client that says, “Well, just exactly how much is Florida Risk Partners getting for placing my workers’ comp?”
David mentions that commissions are embedded into the rates that are mandated by the state. (14:16)
David shares that if they're asking you how much you get paid, it's because they're questioning how you get paid and what you're doing to earn that. (16:49)
David shares his advice about disclosing commissions. (17:43)
David shares a story about a guy that reached out in the community last night, from Killing Commercial. (18:17)
David mentions that in the middle market, you always have to be patient. (23:09)
Tweetable Quotes:
“I guess it depends on what your value prop is, right? I mean, if you don't have one, then you might not want people to know.” - Kyle Houck
“When I go into a meeting, I'll tell the client that my absolute favorite thing to talk about is my personal compensation. I want them to know I don't care if they know how much I get paid or not. Because I feel like we do what we need to do to earn that money.” - David Carothers
“I’ve gone through and pointed out all the things that may be missing like credits, or the fact that they don't have a good dividend or a dividend at all...point out all those things, and show them what you're going to do for them.” - Kyle Houck
“We want to be viewed as professionals, we want to be treated like professionals, but we act like idiots, right? We act like it's not our clients’ business to know how much we get paid.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Bob Paskins, Corporate Consultant, Sales Coach, and Keynote Speaker at Bob Paskins Enterprises. Bob talks about his journey in the insurance industry and his transition from being a commercial insurance agent to being a professional speaker, motivator, and consultant. He also discusses the benefits of utilizing the Growth Matrix to develop salespeople, processes, and overall performance. Episode Highlights:
David introduces Bob Paskins. (1:34)
Bob shares his background and his career in the insurance industry. (2:02)
Bob mentions that he’s been kind of an insurance geek all of his professional career. (2:03)
Bob shares a fun story about his sales training. (6:23)
What were the obstacles that Bob faced when he had to take on a new role inside of the agency, where he was working? (11:54)
David shares that he wouldn’t change anything in the way he started his career. (14:14)
Bob shares that organic growth is vital to increase the bottom line and the profitability of the agency. (16:15)
In David’s opinion, it’s significant to understand that prolonged production magnifies the value of the assets that they're building, in addition to the income that they're building. (17:28)
Bob shares one question he asks insurance agency owners that tells him more about the owner than anything else. (19:45)
Bob thinks that it’s significant to perpetuate within the organization to have control, and your clients also have trusted in what's going to happen with them. (21:55)
How was Bob’s transition, from being a producer to consulting programs? (23:09)
Bob shares that through his 20 years of experience in trying to figure out exactly how to sell, he came up with areas that he considers to grow his book of business. (23:25)
Bob shares that the Growth Matrix analyzes the six different components around your business that help your business grow, and you must focus on each one of the components to get the most effective growth strategy. (23:41)
David shares a quote that his friend Bernie Borgess is always using. (28:50)
David mentions that they are a huge ZyWave agency, and they have built their business around using most of their products. (30:10)
Bob shares that when it comes to CRM and AMS, he sees them in two different areas. (35:35)
Bob shares his opinion about revenues. (37:16)
Kyle thinks it’s necessary that when you have a process, it should be simple and the current person who has no insurance knowledge can pick up on it. (39:47)
Bob mentions that most insurance brokers have to work on their sales culture. (40:21)
How long does Bob typically engage with his clients? (47:12)
Bob mentions that there are a lot of businesses and good-hearted people, who are willing to save producers that have received criticisms from other agencies. (50:32)
Bob explains his Breakaway Consulting Program. (51:41)
Tweetable Quotes:
“Well, confidence has never been my problem, or maybe another way of saying that is ego hasn't been my problem.” - Bob Paskins
“I honestly believe that when people get to the 60 or the 65 years old, they're looking around and their mindset shifts from this is what I did, to now. I want to have this legacy that I‘ll leave behind, and if they have not put the steps in place for that, by the time they're that age, it's really difficult for them.” - Bob Paskins
“You can have that one rotten apple and that one rotten apple could be in production, or I've seen that one rotten apple is on the account management side, and if they start poisoning the well against the company or the ownership of the company, it creates all sorts of problems.” - Bob Paskins
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Bob Paskins LinkedIn
Bob Paskins Enterprises, LLC
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Ryan Keating, Vice President at Keating Agency Insurance. Born and raised in the insurance industry, Ryan talks about his insurance career and shares his knowledge and expertise. Episode Highlights:
David introduces Ryan Keating. (1:28)
Ryan shares his background and his career in the insurance industry. (7:07)
Ryan mentions that he’s part of the third generation business his grandfather started. (7:14)
Ryan thinks that San Diego and Tampa have a lot of similarities. (9:15)
Ryan talks about his kiosk business. (10:44)
Does Ryan like Forrest Gump? (11:45)
Ryan thinks that a kiosk is an interesting type of sales and it depends on what product you’re selling and technically, you can sell insurance from a kiosk. (13:21)
David mentions that he and his friend were planning to buy a chain of barbershops as an investment. (16:54)
Ryan shares that he had a connection from reading David’s book, regarding Sales 101. (20:11)
How long has Ryan been working with his father? (23:27)
Ryan shares that his lawn mowing career became successful to a point where he could have started a landscaping company. (26:19)
What brought Ryan to Tampa? (27:43)
Ryan thinks that a lot of sales jobs and companies give people an opportunity, but they don't give them the foundation in the process, and he has been in situations where there is no process. (30:37)
David thinks that one of the biggest issues with their industry as a whole, is that only a few places have a foundation in their process. (30:58)
Ryan shares that one of the challenging areas is providing a better journey and experience to the customer. (32:37)
Ryan talks about his first CIC class. (33:41)
Ryan mentions that he studied at Chubb Producer School, and he thinks that it was the best decision he has made so far. (34:46)
What was better about Chubb Producer School compared to others? (35:27)
Ryan shares that he would also want to build, hire, and be able to provide people an opportunity to learn. (36:31)
What was one of the aspects that Ryan learned from dealing with the bigger groups that he’s able to apply to what he’s currently doing? (36:52)
Ryan shares his thoughts about their agency, being smaller and new. (39:58)
David shares that in their company, anything that’s going to be below the revenue threshold turns into a small business unit. (41:03)
Ryan mentions that they have recently acquired an agency for all personal lines. (47:21)
Ryan shares that event based marketing works well for him because he’s a big fan of bringing people together. (49:26)
Ryan shares that a lot of people didn't even realize that their agency has been around for 50 years. (50:23)
Ryan mentions that they’re currently paying for Better Agency, but it has not been implemented yet. (52:20)
Ryan shares that he had some great success with selling commercial lines. (53:03)
David mentions a common myth with regards to commercial lines. (57:50)
Ryan talks about the three accounts that he wrote in the last two years. (1:01:35)
Tweetable Quotes:
“I think a lot of sales jobs and companies give people an opportunity, but they don't give them the foundation in the process.” - Ryan Keating
“Once they're a client, it’s really developing that customer journey and experience.” - Ryan Keating
“I definitely learned that you do need to fine tune and drill down in getting to know people who you're going to do business with or who's going to relate to you that's going to enjoy doing business with you.” - Ryan Keating
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Ryan Keating LinkedIn
Keating Agency Insurance
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about understanding the significance of setting expectations from a carrier standpoint and a managing standpoint. Episode Highlights:
David shares that people who are starting to get into the middle market don't understand the difference between writing commercial insurance to small businesses and writing commercial insurance to non-small businesses. (1:45)
David talks about managing expectations. (2:04)
David shares that the carrier has to get an understanding of what risk looks like through your communication with them, and specifically your submission. (3:27)
David mentions that he’s a big fan of including loss control, audit claims, and underwriting in an on-site visit to that client. (3:36)
David shares that one of the best things you can do is put together a good narrative that tells the underwriter exactly what it is that they're looking at, don't make them do a bunch of guesswork. (4:10)
David says that setting carrier expectations sometimes are having legitimate marketing meetings with them. (5:16)
David mentions that when you're building out a niche product or a pipeline, one of the best ideas is to go to the underwriter or the marketing rep. (5:59)
Kyle thinks that you need to have a good type of relationship with the underwriter to where you can pick up the phone and have a conversation with them. (6:42)
Kyle shares a story about one of his payroll partners that were trying to pull them away from the PEO relationship. (7:16)
Kyle explains why they think that the claims were manageable. (8:25)
David says that you must have historical results of proving yourself right. (9:35)
David mentions that you need to do something better than every other agent out there. (11:23)
David shares that when setting an expectation standpoint with a carrier, you should understand how they are going to take claims data in, and then report it back to you. (12:41)
David says that one of the significant details is that we need to have claims reported by location. (12:55)
David mentions that one of his biggest pet peeves is getting loss runs that lack detail. (14:10)
David talks about the baseline risk assessment. (16:00)
David shares a story about the time he went on a drive-thru at Taco Bell with his buddy, Lance Crawford. (21:55)
David explains the two significant phases of setting expectations. (23:23)
From a managing expectation standpoint, David thinks that sometimes people don't set the expectation at the beginning and formalize it because they don't want to have the pressure of having to follow through. (23:55)
Tweetable Quotes:
“One of the reasons why we're able to get things done with carriers that other agencies aren't sometimes is because they know that we're transparent in that process...There's no smoke and mirrors.” - David Carothers
“That’s the type of relationship leveraging that you need to do to get some things across the finish line. If I just go and submit that online and we're not having any conversation, that gets shut down all day.” - Kyle Houck
“Number one set the expectation, and then most importantly, hold them to it. Make sure that they actually stick to what they said they're going to do for you. If you do that, you're going to find that you make your life a whole lot easier.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Lance Crawford LinkedIn
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Eli Gillespie, Owner of Gillespie Insurance Services. Eli talks about his career in the insurance industry and his knowledge and expertise in Workers Compensation. He also discusses the significance of utilizing the dynamics of sales. Episode Highlights:
David introduces Eli Gillespie. (1:24)
Eli shares his background and how he got into the insurance business. (2:17)
Eli mentions that he kept having a reason to stick with insurance because he enjoyed it. (5:22)
Eli realized that it was more fun for him to talk to business owners because it was more fascinating. (5:28)
Eli shares that when he started grasping Worker's Comp, he liked it a lot because the premiums were high, there was very little chance of improperly insuring someone, and having a gap in coverage that leaves an uninsured claim. (5:57)
Eli shares that at this point, his main focus is to lead with Worker’s Comp. (7:18)
Does Eli still play the piano? (7:32)
What does the prospecting process look like for Eli? (13:29)
How did Eli make the transition to go out and start developing business for himself? (13:46)
Eli talks about the importance of referrals. (14:06)
Eli shares that he wanted to be more productive, and get the lines of business in the industries that he wants. (14:25)
What kind of acquisition costs does Eli have on painting contractors? (17:10)
What are Eli’s niches? (17:32)
Eli mentions that his current favorite is contractors. (17:38)
Eli shares that he loves agribusiness and it's very stable, but there's so much going on with it right now. (17:43)
Does Eli have employees who negotiate with the carrier to make the payroll adjustments? (20:12)
Eli explains the purpose of the special COVID form. (21:02)
Eli explains what the Four Cards are. (30:16)
How does Eli respond when trying to differentiate himself or figure out a foothold to start carrying the account across the finish line? (32:08)
David mentions that he did a live kind of deal on killing commercial on one of their calls for the people that are in the program. (33:23)
David shares that throughout his career, he learned how to pivot on the fly and how to develop street smarts when it comes to people who don't necessarily appear to have a problem. (34:35)
David mentions the three things that he tends to gravitate to if you're a producer and you want to go lead with workers comp. (34:58)
Kyle mentions that David’s security on the pipeline is top-notch. (53:41)
Eli found out that the more he says no and does not entertain a whole host of types of businesses or prospects, he gets more opportunity to write on ones that he wants to write. (53:59)
Tweetable Quotes:
“A lot of it is just a relationship you know, you click with someone, and you kind of catch them at the right time where they're not getting good service, and you just make a good impression.” - Eli Gillespie
“I try not to just gather info, I’m gonna have to gather info, but I try not to make it like, I go in, I sit down and start going down the list of info I need. So, it's a conversation where I'm sneaking info gathering, and I'm just talking, trying to make it real conversational, personal, and making a good impression.” - Eli Gillespie
“I try to not get in too deep with my time because my time is valuable.” - Eli Gillespie
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Eli Gillespie LinkedIn
Gillespie Insurance Services
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Cameron Pechia, Managing Partner at Valley Trucking Insurance, a division of All Lines Insurance. Cameron talks about his career in insurance and his niche focus and verticals in the insurance business. He also shares his knowledge and expertise in commercial insurance. Episode Highlights:
David introduces Cameron Pechia. (1:32)
Cameron shares his background and career in the insurance industry. (2:28)
Cameron shares that 2007 was a terrible year for contractors, large establishments were going out of business, and the market was crashing. (7:04)
Cameron mentions that his first account was essentially pivotal to his insurance career. (7:52)
Cameron shares that he was constantly great at networking and building relationships, and it developed his contacts and referral partners. (10:40)
Cameron says that life and health insurance made him feel like he was spinning wheels and doing charity work. (13:37)
What are the niche markets and verticals that Cameron and his team have been focusing on? (14:30)
David thinks that if you're going to be successful in commercial insurance, you have to get ingrained into the businesses you're working with. (19:28)
Cameron shares that in any commercial sense for insurance, you need to know the business inside and out, the mindset of their employees, what they face daily, and if they have a culture of safety or bring them back to the work program. (26:16)
David shares a story about a guy on the corner of Causeway in Providence that was advertising. (27:38)
Cameron shares a story about his family friend growing up who owned a chain of sandwich shops. (28:38)
Kyle mentions that he’s happy he grew up like in the pre-social media era. (29:54)
David shares one of the things that he admires about Cameron. (30:23)
David mentions that some people just give up when they hear no, and they immediately quit and move on. (30:40)
Cameron says that he despises agency bill. (33:20)
What is a Chameleon Carrier? (34:35)
What do Cameron and his team use to keep track of everything? (35:35)
Cameron shares a story about his conversation with Great West. (37:05)
Cameron mentions that if you want to work with someone, you have to put in your time, your legwork, your research, and you have to come up with a plan. (42:43)
David thinks that social media has been a detractor from the right way to do things because it makes people feel they are in competition with other agencies for things that they don't even need. (49:13)
Kyle mentions how the industry has been very slow in adopting the technology. (49:25)
Cameron thinks that it hardened him coming in the way he did and having to do what he did, grind it out on the phones the way he did, and make it happen on his own. (51:18)
Tweetable Quotes:
“My heart is in the commercial, that's where I get excited. That's what drives me to get up in the morning and kind of keep pushing is the commercial grind, but it opened my eyes to what the personal lines were.” - Cameron Pechia
“At the end of the day, we're working to make a paycheck and we're in a very lucrative career, and a career path that sets up a lot of people, but you have to be passionate about the industry you're going in, somewhat have a deep dive knowledge into it and have a complete understanding.” - Cameron Pechia
“I'm always looking at a way to improve to sharpen these tools of skill set. Things that are not shiny object things but how can I legit be better and add more value to our clients, add more value to my team, and kind of dominate the marketplace in that sense.” - Cameron Pechia
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Cameron Pechia
Valley Trucking Insurance
All Lines Insurance
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about claims that have had an impact on their careers and personal lives as well. Episode Highlights:
Kyle mentions that David has more experience in claims than him. (1:38)
David mentions that he will be sharing three of his personal experiences about claims. (1:51)
David shares that personally and in his career, claims have shifted his thought process and made him look at things a little bit differently. (2:05)
David talks about the day he went to Key West for Father’s Day, four years ago. (2:10)
David shares that this is one of the scenarios you get when a CIC instructor gets up and gives you claims scenarios because it's got a lot of layers to it. (4:07)
David mentions the first time in his career that he had a death claim. (5:16)
David explains what bothered him about a company. (5:32)
David shares a story that speaks more to the risk management approach. (10:06)
David shares an experience that made him realize the significance of having buy-in from the top down anytime you're going to try and drive change in a company. (15:50)
David shares that their philosophy is they want to reinforce positive behavior and redirect negative behavior. (16:07)
David mentions a management leadership book entitled Whale Done!: The Power of Positive Relationships by Ken Blanchard. (16:36)
David talks about a client who manufactured personal care products for institutional use. (19:58)
David mentions the two moral lessons. (25:44)
David explains the importance of having everything on file for your clients, particularly signed proposals. (26:20)
Kyle shares that they always tell their clients that it’s all about proper documentation. (26:47)
Tweetable Quotes:
“We tell our clients all the time, that it's all about documentation...There's no reason why we shouldn't be doing it ourselves.” - Kyle Houck
“If somebody is doing the right thing, we want them to replicate that and we want to catch them doing the right thing. If they're doing the wrong thing, we want to acknowledge that we see them doing the wrong thing, but maybe do a quick retrain, redirect, and get them back on to the right track.” - David Carothers
“Make sure that your clients are signing proposals. If you're having exclusions or they're rejecting coverage, make sure that there are forms drafted around that as well, because it's really important that you have those things on file.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Micah Salas, Advisor of Risk Management & Business Insurance at Marsh & McLennan Agency. Micah talks about cold calling, getting prospects from LinkedIn and creating a content production strategy. Episode Highlights:
Micah shares his background story, and how he got into the insurance industry. (2:53)
Micah explains that there are a lot of people with a lot of different experiences across the country that you can use as resources. (6:57)
Micah says that Marsh & McLennan Agency allows them to be entrepreneurial. (7:43)
Micah shares that they’re pushing hard to get all of their producers using Salesforce consistently to have those processes in place. (10:03)
Is there a specific market segment that Micah goes after? (10:37)
Micah says that everyone, especially in construction, buys workers’ comp because in order to get to the client’s job site you need to show a certificate. (18:13)
Micah talks about Texas Mutual's dividend program in Texas. (20:08)
Micah shares that he made contact with a large company with more than 2000 road contractor employees, a billion dollars in revenue. (28:20)
Micah talks about his ROI. (29:56)
Micah says that he regularly puts out content on his LinkedIn account. (32:49)
What is Micah’s content production strategy? (38:07)
Micah shares that he has zero interest in quoting or bidding but they have a different approach. (38:58)
Does Micah read a lot of books? (39:29)
Micah shares his starting point and how he refines that to have the highest hit ratio. (45:37)
What advice can Micah give to anyone who is starting out in the insurance industry as a producer? (59:26)
Key Quotes:
“Don't listen to fake news that cold calling is dead.” - Micah Salas
“From an insurance agency standpoint, or agent producer, I would spend 30 minutes a day to an hour connecting with people, following people, seeing what's going on and posting relevant content. But if you're expecting it to get rich on it, it's not going to happen.” - Micah Salas
“I stay pretty tight to what I know I do well, just because I know going into those meetings, I can speak with confidence and then I know we can deliver as well.” - Micah Salas
Resources Mentioned:
The Power Producer’s Podcast
David Carothers LinkedIn
Killing Commercial Insurance
Florida Risk Partners
Kyle Houck LinkedIn
Micah Salas
Marsh & McLennan Agency
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Brad Rosenkilde, Principal Agent at R&A Insurance Inc. Brad discusses how he got into the insurance business, his career in the insurance industry and how he built his pipeline around transportation based risk. Episode Highlights:
David introduces Brad Rosenkilde. (1:24)
Brad shares his background and how he got into the insurance industry. (2:56)
Brad mentions that he wasn't a good student, but he was a good communicator. (4:33)
Brad says that he likes the gravitas of saying that insurance is a sexy job. (10:48)
Brad shares that his agency is so ingrained at the highest level of our policyholder’s needs in what they do every day. (11:04)
Brad shares that insurance is a career that you get a lot of fulfillment if you put in a lot of hard work. (12:18)
Brad shares that getting into the towing companies was a huge outlet because they serve the vast majority of all the transportation based risks. (16:00)
What made Brad decide to get into the transportation niche? (16:54)
How did Brad put together his pipeline? (19:15)
David mentions that the things that require effort are always going to supersede the things that don’t. (21:43)
Brad talks about the snowball prospecting effect. (23:45)
Brad says that he’s not going to waste his time on somebody that is not the ideal prospect. (25:28)
Brad mentions that he gets enjoyment out of cold calling and finding new green organic people to talk to daily. (28:08)
Kyle shares that it’s such a rewarding feeling when you're able to bring the value to somebody and see a positive impact. (29:17)
David shares what Kyle’s referral partners said. (29:48)
Did Brad play sports growing up? (33:33)
What is Brad’s hook when you get these people on the horn? (35:53)
Brad explains the OSHA 10 and OSHA 30 training. (38:40)
Brad thinks that from an insurance perspective, there are only three things you can do with risk. (45:26)
Ben mentions that funding mechanisms or compensation are one facet of an entire program that needs to be managed. (46:45)
David thinks that people miss the fact that if you do business the right way, you build better relationships with your underwriters as well. (46:52)
Tweetable Quotes:
“When you really pull the layers back to get to the core of what we do, it's actually a pretty sexy job. I mean we get ingrained in our clients, businesses, you know, we're experts at a lot of different things that people overlook.” - Brad Rosenkilde
“It’s that gamesmanship that wakes us up to do what we do every day. I love the competition when my clients get second opinions and market outside of my firm, that makes me rise to the occasion.” - Brad Rosenkilde
“There's a lot of mechanisms that we bring to the table where we take the avoidance of risk approach, where we help businesses restructure their business processes to minimize their exposure to risk that they would otherwise transfer to insurance.” - Brad Rosenkilde
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Brad Rosenkilde LinkedIn
R&A Insurance Inc.
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss the winning situations in their career, the challenges they have experienced, and what they have learned from it. Episode Highlights
Kyle shares the best win situations in his career. (4:04)
Kyle talks about another situation where they had to use all of the resources that they have. (7:29)
Kyle says that when he thinks of a win, it is the overall process and the battles that he had to win in order to get in front of the right person and get the deal done. (10:47)
David says that one of the bloodiest battles he has been was the whole process of getting the account of a large solar contractor. (11:26)
David shares what made him say that he will never pre-qualify an appointment again. (23:54)
David talks about the flight simulator manufacturer account he wrote 17 years ago. (27:22)
David says that you don’t need to have a master’s or a doctorate in loss control to get a deal done. (30:06)
Key Quotes:
“No dollar amount is gonna change my opinion, even though you were completely unqualified. I would still keep my word to you.” - David Carothers
“This is not just about insurance, walk around, touch and feel what you're going to try to ensure. Make sure you understand the risks, ask questions, notice things. You don't have to have a Master's or a doctorate in loss control to do that.” - David Carothers
“Don't ever prequalify an appointment, you've already got a booked appointment, show up for it. If nothing else, you had an opportunity to practice your game.” - David Carothers
Resources Mentioned:
The Power Producer’s Podcast
David Carothers LinkedIn
Killing Commercial Insurance
Florida Risk Partners
Kyle Houck LinkedIn
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Justin Sloan, Real Estate Investment Insurance Specialist, Principal Agent and Owner at BSP Insurance. Justin discusses his niche in the insurance industry and what tools they use in AMS and CRM. He also talks about the significance of utilizing automation in insurance. Episode Highlights:
David introduces Justin Sloan. (1:39)
Justin shares his background and his experiences in the insurance industry. (3:28)
Justin mentions that he had a terrible car accident in the summer of 2012. (5:26)
Justin says that he always had goals and aspirations of being a business owner. (5:39)
Justin shares that they have a pretty hefty book of what he called the generalist type insurance, and they are starting to focus more on niches and micro-niches this year. (6:44)
What point of inflection did Justin determine that it was time for him to start drilling down? (7:14)
Justin noticed that many insurance agents didn't realize the coverage form and the demand for certain coverages on the deals. (8:17)
What is a micro niche? (10:47)
Justin explains the difference between niche and micro-niche. (10:59)
Justin mentions that they use Hawksoft as their AMS and Hubspot as their CRM. (16:07)
What advice would Justin give if David was an agency that was looking to dip his toe into automating his processes? (19:10)
Justin talks about the conversation he had with his business partner, Christopher Paradiso. (19:43)
Justin shares that the automation piece is a pleasant experience for their prospects, and following up on quotes is vast. (20:54)
Justin explains the reason why loss is a big topic. (21:20)
David shares that he perceives HubSpot as an investment that has allowed him to replace four physical bodies because it provides a better work product than a human would, as long as it's programmed correctly. (24:50)
What agency management system would Justin recommend? (40:51)
Justin mentions that he highly recommends the use of a video proposal. (47:10)
Why does Justin think that this industry is so slow to change and adapt to some of the different technologies? (56:02)
Justin explains his six pages pre-recorded quote proposal video that he used for all proposals. (57:27)
Justin talks about an annual event called Choose Love Fundraiser. (59:18)
Tweetable Quotes:
“I think our biggest pitfall starting up...and I learned a lot of lessons, was again, just new business prospecting and make sure that every single lead that comes in the door is getting callbacks and emails back.” - Justin Sloan
“I think it's to each his own. They need to really look in the mirror, and like you said, kind of reverse engineer what they're trying to achieve.” - Justin Sloan
“It's just great being able to give back to the community, regardless of whatever benefits come from it. From a financial standpoint, that's not our reasoning. All the business owners here are fathers and mothers, and we all have children. This is very near and dear to our hearts, so just being able to do that, and having an agency and the whole team buys in. It's just the greatest feeling in the world for everybody here and gives us a sense of purpose as well.” - Justin Sloan
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Justin Sloan LinkedIn
BSP Insurance
Choose Love Fundraiser
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Vonda Copeland, CPIA, CWCU, VP of Operations at Copeland Insurance Agency, and Custom Harvest Insurance, LTD. Vonda talks about the obstacles she faced in succeeding her goals in life, what they have been accomplishing in their agency, how they utilize technology, and how they manage their producers. Episode Highlights:
David introduces Vonda Copeland. (1:24)
Vonda shares her background and her career in the insurance industry. (3:59)
Vonda mentions that she is currently doing a lot of work with foster kids. (7:00)
Vonda shares a story about her parents. (9:31)
David mentions that he would instead teach his kids the right way to guide themselves through a properly calibrated moral compass than a full wallet. (18:14)
Vonda shares how her offices look like. (18:49)
Vonda says that they started as a community-based operation. (20:34)
What was the process that they used to determine what they want to automate and leverage technology? (22:36)
Along the lines of technology, does Vonda and her team use a CRM? (26:09)
Vonda mentions that they are currently using Agency Zoom, and they are gradually building a better pipeline system. (26:13)
Kyle mentions that not all producers are early adopters. (28:25)
David shares that he’s not advocating the agencies moving to everything fully automated, but sometimes agencies miss out on business because they don't make it easy for people to do business. (34:04)
Vonda says that automation exposes your weaknesses. (35:46)
Vonda mentions that she created her technology stack list. (35:56)
Vonda shares that she’s always continually looking for something that will integrate, and if it does not integrate, she refuses to make her people do double entry. (37:47)
Vonda explains why she loves using Podium. (38:26)
Vonda mentions that they started using the beta testing of Podium’s video chat. (41:57)
Vonda shares her feedback with AMS 360. (44:38)
Vonda shares a story about the conversation she had yesterday with a couple of people in her smaller Hangout group. (51:53)
David talks about his biggest fear. (54:37)
Do Vonda and her team have it set up on individual policies, or is it a program that they administer as the captive? (59:14)
Vonda shares that the work comp program is a program that they have put together with a new carrier. (1:00:12)
Tweetable Quotes:
“It took a while of trying different things. But when you do that, you're not afraid of change. When you go through that...you're not afraid to try something and suck at it because it's like, “Okay, try something else.” And I think that definitely changes my approach to how I work in the office.” - Vonda Copeland
“You have to really be careful where you're going to allow that automation into where you feel comfortable to where it's not going to do more harm than good.” - Vonda Copeland
“Gratitude is the name of the game.” - Vonda Copeland
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Vonda Copeland LinkedIn
Copeland Insurance Agency
Custom Harvest Insurance, LTD
In this episode of The Power Producers podcast, David Carothers and co-host Kyle Houck discuss how to identify your ideal prospect and create your ideal prospect profile, how to plan effective marketing drops and the significance of personalizing your marketing materials. Episode Highlights:
David thinks that today’s topic is something that most agencies miss the mark on. (1:46)
David mentions that there's a big difference between being lazy and being more efficient by using a computer. (2:02)
Kyle says that cold calling is not going away and it is still effective, you just have to know how to do it correctly and most importantly, you have to plan your day effectively when you are doing it. (2:59)
David shares a fun fact. (3:10)
David shares a story about a friend request he received from the CEO of a lead generation company. (3:42)
Kyle says that some of his bigger accounts or better wins came from just walking up and talking with them. (5:19)
Kyle explains the significance of preparation and what they do to prepare, from the knowledge gaining aspect. (5:37)
Kyle mentions that he uses an app called Road Warrior. (6:10)
David shares that you need to have anywhere between three and five ideal prospects when identifying your ideal prospect, and creating your ideal prospect profile. (07:07)
David mentions that in Reference USA, there is a button that you can click for competitors. (8:39)
David says that he’s getting ready to start doing marketing drops again. (9:38)
David thinks that it’s necessary to personalize the marketing materials when planning your drops. (10:09)
David shares that he put his process in the book and it’s an easy place for him to reference. (12:29)
David thinks that the majority of people can recognize the difference between somebody who's a hack, and somebody who's a professional and a good salesperson. (17:35)
Does Kyle have other tricks that he wants to mention in terms of planning? (24:50)
Kyle shares that you have to do the research on the front end to be able to know who you're going in, and you need to know a little bit about their business. (25:02)
Kyle mentions that being smart with your time is definitely, significant. (26:27)
David thinks that to prepare appropriately to do marketing drops, you need to set your expectations accordingly. (26:52)
Kyle thinks that it is essential to dress appropriately for what you’re doing. (27:38)
Tweetable Quotes:
“Cold calling is a crucial part of any sales organization. It's not going away, it never will, you still have to drive business by doing the cold calling. Of course, everyone would like to be handed warm referrals and those are a great source of new business because they're easier to close for obvious reasons.” - Kyle Houck
“When I go on a marketing drop, I want to confirm the decision-maker, the contact information for the decision-maker, and anything above that...is gravy to me.” - David Carothers
“You've got to kind of mirror who you're going in and that's not to say, you know, prejudging businesses, because that's not what I'm talking about here, but you want to be able to make them feel comfortable with you...even if it's sort of a subconscious thing.” - Kyle Houck
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Reference USA
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Greg Zahn, AVP of Multiline and Digital Sales at Highland Capital Brokerage. Greg talks about his career in the insurance industry and the significance of life insurance. He also discusses the benefits of understanding the disability policy in life insurance, and the value of digital tools in creating systems that are more accessible. Episode Highlights:
David introduces Greg Zahn. (1:29)
Greg shares his background in the insurance business. (2:02)
Greg says that most of what they do at Highland will make sense as to why he works on a digital footprint, and what he does for PNC and benefits organizations. (2:21)
Greg shares the goal of their company. (3:01)
Did Greg work initially in life insurance after college? (4:42)
Greg says that his experiences led him to understand many aspects of life insurance. (5:52)
Greg shares that one of the key elements of life insurance is the disability. (12:41)
Greg mentions that term insurance is a great and easy solution to get the death benefit done. (13:43)
What is the significance of disability? (15:45)
Greg shares that there are plenty of options about disability to where a business can have a disability policy on their customer, or their employee. (16:57)
Greg mentions that life insurance has a significant aspect when it comes to cash value inside the permanent policies. (17:53)
Greg shares that when it comes to death and disability, facts and figures are helpful, and sometimes they like stories of where things have gone wrong, but at the end of the day, helping them understand that a minor cost compared to a major issue is vital. (24:02)
Greg thinks that having a network is a big factor. (28:05)
David says that most financial planning companies out there are beholden to their products, and they are not regularly the best thing for the situation. (29:54)
Greg shares the beauty of brokerage. (31:05)
Greg mentions that Easy Life is an electronic application system and a client-facing tool. (34:54)
David mentions that they have the Easy Life widget on their Florida Risk Partner website. (37:13)
What are the biggest obstacles that Greg has come into when trying to engage with firms like them? (42:38)
Greg explains the methodology with Highland Capital Brokerage. (44:20)
Greg mentions that they have a new digital tool coming out that is more educational. (47:13)
Greg says that Highland Capital Brokerage has support systems that can help those transactional opportunities and don't bury you in opportunities that are not cost-effective for you to work on, but at the same time making sure that you're visible. (47:50)
David says that the thing he likes about digital more than anything else is the analytics that he gets from it. (48:45)
Greg thinks that being digital, being aware, being connected, and the data in understanding how to read it is vast. (50:58)
Tweetable Quotes:
“The ability to help individuals find the right solution for their family and their needs, and work with insurance professionals that may not traditionally do life insurance is an awesome thing to do every day.” - Greg Zahn
“If you don't have a good partner that you can trust that's going to deliver the right solutions to your customers, then don't go into it just to chase money, do it for the right reasons.” - Greg Zahn
“Google is not the most helpful thing for good objective research, but customers do it. So make sure you understand, really work around the value, and anyone that's bringing a soul product, and not the market is not really truly bringing value to your customer solutions.” - Greg Zahn
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Greg Zahn LinkedIn
Highland Capital Brokerage
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Billy Wagner, Multi-Unit owner at Brightway Insurance. Billy talks about the book he is currently writing and shares his hiring process, what his agency does to go the extra mile for their clients, and how insurtech is changing personal lines. Episode Highlights:
David introduces guest Billy Wagner. (1:24)
Billy shares how he’s pushing growth with his family during the pandemic. (4:34)
How therapeutic does Billy find writing his book? (5:20)
Billy says that the book his writing right now called “Guiding You” is about teaching life lessons to his kids about what he has learned. (6:12)
Billy says that he worked on a restaurant business for 10 years, and he kept getting promoted. (9:25)
Billy says that starting his business from scratch in 2006 was the best decision he ever made. (10:04)
David talks about his fundamental belief that he thinks everybody who works in retail, restaurant, or any public-facing customer service should have. (11:05)
Billy shares what his team did for a family who had a house fire last year. (13:57)
Billy talks about the coolest thing he’s been doing with his referral partners. (16:59)
Billy shares that they are sending gifts to somebody who sends them a referral for the first time. (18:17)
Billy shares what he did to help a real estate agent who wasn’t even his client. (19:16)
Billy explains why he thinks that experience has everything. (20:20)
Why does Billy think that other people are not doing the power of words? (21:12)
Billy shares what they do to help people to become a better person. (23:57)
Billy talks about how the bright way started. (26:42)
Billy shares why he thinks momentum is significant. (30:49)
What does Billy's hiring process look like? (31:57)
What does Billy see getting ready to happen in the next 12 to 18 months? (43:52)
Billy shares his thoughts on how insure-tech is changing personal lines. (47:44)
Billy says that we gotta get away from so much transactional stuff (5641)
What does Billy use for a CRM? (57:52)
Billy talks about the book he wrote for a company called Fold of Honor. (1:00:37)
Tweetable Quotes:
“I feel like I'm standing on the shoulders of giants. So much that I've learned has been through my peers. And so I'm always willing to give back. So if I can help anybody, I would love that.” - Billy Wagner
“I'm out in the community trying to make a difference and trying to be a leader that people can say ‘Okay, I need to do what he's doing.’ And that's kind of been my goal. I want to show my kids and my team and everybody that, you know, this is what we need to be doing. We all need to be lifting people up and being an example for other people to follow.” - Billy Wagner
“The more sophisticated the carrier is at coming up with the rate, the better and more accurate it is.” - Billy Wagner
“Growth is something that I'm always pushing for.” - Billy Wagner
Resources Mentioned:
David Carothers LinkedIn
Killing Commercial Insurance
Kyle Houck LinkedIn
Billy Wagner LinkedIn
Brightway Insurance
In this episode of The Power Producers podcast, David Carothers and co-host Kyle Houck discuss the benefits of utilizing free online tools that producers should be using, and how online tools can contribute to building better searches. Episode Highlights:
Kyle says that they use a fair amount of online tools but he’s sure that there's more out there to discover. (1:54)
David says that if the listeners can give them free online tools, they will send a Power Producers t-shirt in return. (2:04)
Kyle shares that there are many different things that you can glean from Reference USA. (3:20)
David shares that when he first started in this industry, they could not do all of the search parameters. (3:43)
David says that Sunbiz is a website run by the Florida Department of State. (5:16)
David shares that when you have resources like Reference USA and Sunbiz, it's much easier to formulate the questions that you want to ask the business owners. (7:02)
Kyle explains some of Reference USA’s features. (7:28)
David explains the Uniform Commercial Code. (8:16)
Who doesn't love a nearby business? (9:14)
Kyle says that nearby business is something that’s beneficial. (9:17)
Kyle mentions that Reference USA is an all in one spot easy access. (9:30)
David explains how you can access Reference USA by using a library card. (9:43)
David says that he doesn’t want people to think that they are just sitting and preaching that Reference USA is 100% accurate. (10:15)
David says that if you look at an account for every million they have in sales, you can guarantee there's going to be at least $1,000 in agency revenue. (10:56)
Kyle shares another online tool called MailTester.co which verifies if the e-mail address exists. (12:10)
David talks about his conversation with their buddy, Ricky Hater. (13:30)
What if there's a bunch of gatekeepers that are infiltrating and listening to our podcast, are we in trouble? (14:16)
David shares that political contributions have to be disclosed, but you can also find charitable contributions to religious organizations or nonprofits because it can help spawn conversations. (16:47)
Kyle thinks that the property appraiser website for the county is a little underutilized or only used when dealing with certain lines of coverage. (17:16)
Kyle mentions that if you're going in to discuss Worker’s Comp or Auto, it's good to know about what's going on with their building in the property that they have. (17:55)
David explains the Department of Financial Services website. (18:36)
David shares his experience when he went to a meeting to collect a down payment from a roofing company. (22:20)
David shares that he appreciates those people who can take a negative review, and turn it into a positive based on an epic response. (26:18)
Tweetable Quotes:
“So Reference USA... I don't wanna beat this horse any longer but that's kind of where I came up with my quick and dirty rule, for how to gauge the revenue on an account.” - David Carothers
“Everybody's going to Google, Facebook, Instagram, and all that stuff. You know, we wanted to kind of give people a little bit of where we can find some more inside info and specifics about the business.. That they may or may not really know, or available to them.” - Kyle Houck
“I don't expect any company out there to continuously have five-star reviews, there are too many internet trolls out there. It's not about whether you get a bad review or not, it's how you respond to it and pivot off of it.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Reference USA
Sunbiz.org
MailTester.com
Florida Department of Financial Services
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Michael Overstreet, owner of Safe Street Insurance. Michael talks about how he uses video marketing to grow his agency, his relationships with his clients, and how he is slowly branching out into commercial lines. Episode Highlights:
Michael shares the story of how he got into the insurance industry. (3:12)
Michael says that he started an independent agency for personal lines, and he’s now doing commercial lines. (3:34)
Michael says he’s planning to get a drone soon. (12:43)
Michael shares that the video came in when he got into a point where he couldn’t grow at the scale he desired. (17:57)
Where does Michael get his referrals from? (18:09)
Michael gives the best service by responding quickly and genuinely cares for his clients. (19:05)
How much paid advertising does Michael do? (22:44)
Michael says that the video can establish you as the authority, and people will try you right away. (27:26)
Michael explains how determined what was driving his website traffic (28:40)
Michael shares how he’s using the video to branch out into commercial lines. (35:57)
Michael explains why he has to be kind on his video content. (37:27)
Michael explains how tropical plants can grow in Arizona. (41:36)
Michael says that he’s been using EZLynx from the beginning. (48:54)
Michael explains why he chooses to use Openly as a carrier. (57:02)
Michael shares what they’ve realized with the YouTube training they had. (59:51)
Michael says he loves Better Agency because they’re willing to listen to agents, make changes, and adjust accordingly. (1:01:05)
What has been Michael’s biggest success using the Better agency? (1:01:05)
Tweetable Quotes:
“My main source of referrals and what I prefer, are my existing clients.” - Michael Overstreet
“I just give the best possible service I can by responding quickly and genuinely caring about my clients.” - Michael Overstreet
“Every agent is looking for that secret sauce.” - Michael Overstreet
Resources Mentioned:
The Power Producer’s Podcast
David Carothers LinkedIn
Killing Commercial Insurance
Florida Risk Partners
Kyle Houck LinkedIn
Michael Overstreet LinkedIn
Safe Street Insurance
The Garden Nerd YouTube Channel
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Jason Denniston, Medicare specialist, Life and Health Insurance Agent, and Owner of Denniston Insurance. From being a pastor to an insurance agent, Jason talks about how he got into the insurance business and the principles that contributed to the success of building his agency. Episode Highlights:
David introduces Jason Denniston. (1:24)
What is Jason’s backstory that influenced him to start an agency? (2:23)
Jason shares that he spent 18 years in full-time pastoral ministry. (3:02)
What was Jason’s main goal when he was in the church? (5:50)
Jason shares that he had the privilege to be the pastor of ministerial development. (6:51)
David thinks that most people don't understand how to appreciate their true potential because they don't take enough initiative to develop themselves. (19:21)
In Jason’s opinion, it takes five principles or five skills to start an insurance agency. (25:13)
Jason shares why his transition to insurance was weird. (27:02)
David mentions that sales, marketing, and product knowledge are highly significant. (35:37)
Jason explains the value of regulation and its process. (38:06)
Does Jason deal with hacks? (40:54)
Jason’s priority is to be the most outstanding Medicare advisor that he can be. (43:39)
David says that agents are probably among the most vulnerable group of people to shiny object syndrome. (44:09)
What do David and Jason do as an insurance agent? (45:06)
Jason explains what The Indie Barbecue group is all about. (44:47)
Jason shares what he’s very fortunate about in his career. (51:09)
What are the states that Jason is licensed in? (53:36)
Jason tells a funny story about obtaining some of those states. (53:48)
Jason shares that he’s currently building an educational training platform for senior citizens. (56:19)
Tweetable Quotes:
“I realized that the thing I do best is to help other people be better. My gift is helping teams do better and helping other people do what they do better.” - Jason Denniston
“Seeing the best in people and understanding that everybody has something...Everybody has a gift and a skill to give.” - Jason Denniston
“Everybody wants to be successful, everybody wants to know that what they're doing matters, and that they're really fulfilling what I would consider their purpose in life.” - Jason Denniston
Resources Mentioned :
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
Jason Denniston
Denniston Insurance
Medicare
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss the value of working the phones, proper phone etiquette, and how to build trust and establish credibility. Episode Highlights:
David starts by explaining that they are going to talk about one thing that salespeople hate with a passion. (1:34)
Is there anybody who loves working on the phone? (1:48)
David mentions that open enrollment is ending soon. (2:08)
David thinks that robo calling and open enrollment made it worse. (2:26)
David shares why getting a random call from a local number makes him very mad. (2:29)
What has Kyle done to modify given this COVID-19 phenomenon? (3:43)
Kyle shares that phone interaction gives you less chance of grabbing your prospect’s attention than face-to-face interaction. (4:00)
Kyle thinks that telling your customer this line, “I know you're not expecting my call, so I promise to be brief.” is significant. (4:29)
Kyle says that he doesn’t like to put a time constraint when talking to the customer on the phone. (5:06)
David says that it’s relevant for the listeners to know that Kyle is not only focused on compensations, but also on meeting needs. (5:45)
David shares that he wants to guarantee his customers that he did not accidentally call or make them think that they're just part of some random list of people who are calling to quote insurance. (7:44)
Kyle says that his favorite part is when the customer says that they already have insurance. (8:05)
David mentions that reading the book, Never Split The Difference has completely changed his approach to many things. (8:35)
David explains why everybody on the phone is trying to get a “yes” from their prospects. (8:45)
David shares that he would prefer to say he hates the phones, but he thinks the quality of his appointment is better. (9:35)
Kyle shares that the people who are setting the appointments don’t care about the quality, instead they just try to get it done. (9:42)
David shares a story about the best appointment person he ever had. (10:17)
David explains the significance of the follow-up piece. (14:48)
David talks about the psychology behind knowing when people say “no”. (19:40)
Kyle says that you can also apply these same principles to different lines of coverage. (26:20)
Tweetable Quotes:
“I always try to take a pretty general approach. I want to keep things simple with them, you've only got a few seconds to grab their attention.” - Kyle Houck
“I think that's where a lot of people miss the boat, they don't prepare the prospect for the appointment correctly.” - David Carothers
“I want to make sure they also know early in the conversation that it's not an accident that I'm calling...I don't want them thinking that they're just part of some random list of people who are calling to quote insurance.” David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Todd Thams, Founder of Direct Work Comp and President at Thams Agency. Todd talks about the significance of the workers’ compensation and the benefits of applying technology as a tool in reshaping operations. Episode Highlights:
David introduces Todd Thams. (1:30)
David says that Todd’s barbeque and products are legendary. (5:21)
Todd shares his background in the insurance business. (6:12)
Todd mentions that he’s the third-generation owner of their insurance agency. (7:41)
Todd states that the fast-food industry is entirely overlooked. (8:41)
How did Todd manage the agency professionally during COVID? (12:20)
Todd explains why the packers and processors are making money right now. (13:36)
How did Todd decide to pick workers’ comp as a new business? (15:32)
Todd talks about the account that they picked up last year and his meeting with the CEO. (20:08)
Todd says that most underwriters are charged with growing their book of business every year. (29:24)
Todd says that you have to take care of the people you have to take care of the clients. (29:54)
David talks about a phone call from someone that posted in IAOA. (31:38)
David explains the difference between the retail and insurance industries. (39:24)
What has Todd done to try and generate new business revenue in his downtime? (41:12)
Todd thinks that COVID is going to be the great separator for insurance agents. (52:16)
Todd talks about automation technology. (58:52)
Todd says that he loves the education David brings to the industry. (1:02:50)
Tweetable Quotes:
If we're gonna market you, we're gonna take you on as a new client, we're going to go to market for you the first year. And outside of that, we don't intend to remarket you every year, maybe three or five. But we're going to keep you with the exact same carrier not only to build loyalty but to build longetivity” Todd Thams
“I liked workers’ compensation, where I could help people just simply reduce costs.” - Todd Thams
“Life is too short to work with people you don't want to work with.” - Todd Thams
Resources Mentioned :
The Power Producer’s Podcast
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
Todd Thams LinkedIn
Thams Agency
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Walt Goshert, Insurance LinkedIn Expert and Independent Marketing Consultant. Walt discusses the value of understanding workers’ compensation and the benefits of using LinkedIn as a platform for building strategic relationships.
Episode Highlights:
David introduces Walt Goshert. (1:25)
Walt shares his background in the insurance business. (2:31)
Walt says that he finds the insurance somewhat easy to understand, but at the same time boring as well. (4:45)
Walt likes to create a process of making a person trust you to be their advisor. (4:57)
Walt says that insurance has developed into a higher marketing type of discipline. (5:22)
What are we doing in our interactions and relationships with people to allow us to be perceived as respected, trusted advisors? (9:50)
Walt says that the producers should have the initiative to step up, initiate the relationship, and create the perception of value. (10:35)
David shares that a lot of agents are not willing to go the extra mile to invest in learning and understanding something that will make them successful in the future. (12:27)
David mentions that they view insurance as a commoditized shuffling of paperwork. (23:10)
David says the Bureau of Labor Statistics shows that indirect costs of any claim across the general industry are anywhere between two and 20 times the direct cost. (23:49)
Walt says that one of the criteria of being a great producer is you need to be curious and fascinated about businesses. (32:47)
Walt says that video communication is a neat way to do business and also time-efficient for you and the client. (48:21)
David shares that we need to change the way we think to deliver the message to people the way they wish to receive it, not how we perceive they need to hear it from us. (49:50)
What are the three tips that Walt would give to a LinkedIn newbie? (55:15)
What are the three things anybody can do to set themselves on the right course (55:23)
Tweetable Quotes:
“You can't force someone to make a change, they have to internalize making that change for their own benefit.” - Walt Goshert
“We do business with people, we don't do business with businesses.” - Walt Goshert
“You really need to plant your flag in a target market.” - Walt Goshert
“Everyone needs to have a prospecting habit and a prospecting process that you religiously follow each and every day.” - Walt Goshert
Resources Mentioned :
David Carothers LinkedIn
Kyle Huock LinkedIn
Florida Risk Partners
Walt Goshert LinkedIn
floridariskpartners.com
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss how to use Workers’ Compensation to start a sales conversation and the three key things to lead with. Episode Highlights:
David mentioned that they use workers comp to start a sales conversation. (3:57)
David believes that the mod tells a lot of stories, and it's an easy way to start the conversation because it's tangible. (5:23)
What does David mean by presenting audit the right way? (10:37)
Kyle says that most of the business owners don’t know how the mod works. (12:35)
David explains the split point in the state of Florida. (13:10)
Kyle talks about the structure of the program, the carrier, and pay as you go. (18:12)
What are the top three pivots for leading with worker’s compensation? (20:57)
David talks about the dividends. (21:24)
David shares where people can find the recapture provisions and other information. (24:22)
David explains why it is significant to read every quote. (24:30)
David thinks that he beat workers comp to death for the most part. (25:23)
Tweetable Quotes:
“There’s a whole lot of different rabbit holes you can go into from leading with the Workers’ Comp.” - David Carothers
“I think that Mod tells a lot of stories and it's a very easy way to start the conversation because it's tangible.” - David Carothers
“I think I beat comp to death for the most part.” - David Carothers
Resources Mentioned :
David Carothers LinkedIn
Kyle Houck LinkedIn
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Bradley Flowers, Founder of Portal Insurance and Co-Host of The Insurance Guys Podcast. Bradley discusses content creation, where you should spend your ad dollars, and how to build your brand and market your business. Episode Highlights:
David introduces Bradley Flowers. (1:24)
Bradley shares how he met David. (2:25)
Bradley shares his story and his work background. (3:29)
Bradley shares how he got into the insurance industry. (4:55)
Bradley talks about working at a state farm agent to learn P&C. (6:38)
Bradley talks about The Insurance Guys Podcast. (7:26)
Bradley says that they use the podcast as a vehicle to get to know people like Ryan Hanley. (7:56)
Bradley shares how he started the Portal Insurance. (8:13)
David shares how he invites his guest to join him in the podcast. (9:45)
David talks about the email that he received from Josh Gurley. (10:01)
Where would Bradley advise producers or agencies to start over building their brand? (17:27)
Bradley talks about the video studio he built at the back of his office. (19:27)
Bradley shares his own process of creating content. (24:31)
Bradley believes that people should create the content they’re most passionate about. (30:55)
Bradley shares what happened to Mitch Gibson after following his advice. (36:13)
Bradley just started a local podcast. (37:07)
Bradley says that podcasts can become the epicenter of all of your marketing where everything is derived from. (40:05)
Bradley shares the keys to their success. (43:08)
David says that wegotyourpodcast.com as an easy, out of the box way to get your podcast produced. (45:44)
What has been the biggest challenge of Bradley? (48:08)
Bradley talks about the first content he created. (59:13)
Tweetable Quotes:
“One thing that I love to do is I just love connecting with people.” - Bradley Flowers
“I'm a big believer in hiring against your weaknesses.” - Bradley Flowers
“The key is not reaching a bunch of people. The key is finding the right ones” - Bradley Flowers
Mentioned Resources:
David Carothers LinkedIn
Kyle HoUck LinkedIn
Florida Risk Partners
Bradley Flowers LinkedIn
Portal Insurance
The Insurance Guys Podcast
We Got Your Podcast
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck, interview Charles Visalli, Vice President of Time For Wine. Charles talks about how he got into the wine industry and why he is passionate about teaching others about wine. Episode Highlights:
David introduces Charles Visalli. (1:25)
How did Charles get into the wine industry? (2:06)
Charles talks about his previous work experience. (2:23)
Charles considers wine as a symbol of friendship and hospitality amongst people. (2:30)
Charles says that Time For Wine is just a fun business and a great way for people to learn about wine. (3:29)
Charles explains how his business started (5:32)
What’s Charles doing to continue his passion for the business? (7:20)
Charles says they have a wine club and there are people who attend their regular teaching taste programs. (7:52)
Kyle asks Charles what does the team-building exercise looks like? (9:20)
David says that “virtual happy hour” is now a trend. (11:01)
David mentions that Charles introduced him to different variations of wines from different countries. (14:03)
Charles shares a story about the law firm that approached him. (15:08)
Does Charles have access to different types of wines? (19:19)
Charles mentions that Spain produces great wines. (24:27)
How much of the wildfires have forced them to look for other places inside the US to have wine originate? (26:33)
What’s Charles’ current favorite wine? (28:01)
Charles says that opening a bottle of wine and letting it breathe allows the wine to reach the right texture, flavor, and desired style that you want to enjoy as the winemaker intended it. (32:27)
What is the meaning of tannins? (33:23)
Charles talks about his subscription program. (36:15)
Tweetable Quotes:
“We coined the phrase a teaching and tasting experience.” - Charles Visalli
“We bring not only the entertainment aspect but a real way for people to learn about wines.” - Charles Visalli
“We really taste wide with our eyes first, and then our nose and then our palate.” -Charles Visalli
Resources Mentioned :
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
Charles Visalli
Time For Wine
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss the significance of understanding how prospecting fits in the sales process and share some tricks of the trade. Episode Highlights:
David explains why this episode is beneficial to everyone. (1:35)
Kyle mentions that you can acquire a vast majority of business through referrals. (2:44)
David talks about his paperwork for Chubb. (2:51)
David shares that the past two years of his career have been ridiculous. (3:38)
David mentions that he loved the strategy of prospecting and building the pipeline. (4:48)
David explains his thoughts when attending a new business appointment. (5:35)
David shares that he’s very interested in writing about building a prospect database. (6:18)
David shares one of his favorite tricks. (8:38)
David shares the people’s impression of being in sales. (10:08)
Kyle explains the significance of gathering information on the front-end. (13:00)
David talks about the conspiracy theory about COVID testing. (15:28)
David thinks that the reason why clients come across sales agents is because of their lack of patience. (18:33)
What is Kyle’s favorite resource or tool in the prospecting piece? (21:01)
Kyle talks about the workers’ compensation mod. (21:30)
David says that knowing the carriers and the methods in sharing their programs is relevant. (25:02)
Tweetable Quotes:
“You don't have to put a hard sell on anybody if you take the time to educate them appropriately.” - David Carothers
“Just be yourself from the beginning. You're going to attract those who are attracted to you and you're going to repel those who aren't.” - David Carothers
As you're doing your research, figure out who it is that you want to go after and what they look like, not just the types of business, but size, what kind of culture you want them to have.” - Kyle Houck
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
The Extra 2 Minutes
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Bobby Schmidt, Director of Digital and Product Marketing at Zywave. Bobby discusses the cloud-based portfolio of solutions and how they are continually working to strengthen the technology platform. Episode Highlights:
David introduces Bobby Schmidt. (1:29)
Bobby shares his work background. (2:06)
David mentions that Zywave is an excellent tool and he uses it at Florida Risk Partners. (5:04)
Bobby says that two of their flagship products are the Broker Briefcase and ModMaster. (6:48)
Bobby shares that they wanted to invest substantially in R&D and obtain a thought- out acquisition strategy to become a central partner. (9:00)
Bobby says the Broker Briefcase has the ability to boost sales and marketing. (9:19)
Are data points done on an individual account by account basis or by industry segment? (13:01)
Kyle says the Zywave was introduced to him by when they first met to discuss his onboarding. (15:05)
Does the level of data that we get through using the Broker Briefcase campaigns lag compared to what we can get from HubSpot? (24:01)
Bobby says they use a marketing automation system in their marketing team. (26:51)
Does Bobby foresee anything on the horizon where we’re able to use Zapier integrations? (27:24)
What’s on the horizon for Zywave right now? (31:25)
Bobby says that leveraging data from miEdge makes prospecting smarter and easier. (32:25)
Bobby talks about the MyWave to Client Cloud portal. (37:06)
Bobby says that Zywave’s advanced learning management system is applicable to P&C. (37:50)
Bobby believes that they can meet the needs of any agency because they have different suite options that are certain solutions packaged together at different levels. (39:48)
Tweetable Quotes:
“A full-service insurance agency, that's absolutely something Zywave does provide.” - Bobby Schmidt.
“The possibilities really are endless, and how to fuel the other technology that we've already built are currently in the works.” - Bobby Schmidt
“Your system of truth is your source of truth.” - Bobby Schmidt
Resources Mentioned :
David Carothers LinkedIn
Kyle Huock LinkedIn
Florida Risk Partners
Bobby Schmidt LinkedIn
Zywave
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck share some of their more bizarre past client experiences and the lessons they learned from those experiences. Episode Highlights:
David says that if you’ve been a road warrior in sales, you have at least one good war story to tell. (1:36)
How many people perceive agencies are operating efficiently against the rest? (3:43)
Kyle shares a story about a guy that needed help on compensation. (6:04)
David says he had a pocket of business over in Melbourne. (8:47)
David shares a story about his appointment with one of the partners in the firm. (12:26)
Kyle shares a story about a building next to his client’s company. (17:06)
David shares a lesson he learned back when he used to sell satellite dishes in West Virginia. (18:43)
David mentions that he created a cable interest survey. (19:29)
David shares a story about a call that he received from Hot Rod 4 years ago. (23:16)
Kyle says that getting offered a job in the field was one of his favorites. (25:07)
Kyle shares that he used to sell residential hurricane proof windows and doors back in college. (26:43)
David shares that he earned $250 of commission from his first deal. (28:08)
Tweetable Quotes:
“Everybody out there, if you've been a road warrior in sales, has had at least one good war story” - David Carothers
“All you agency people out there, hold your people to a higher standard.” - David Carothers
“I made a commitment to myself all those years ago that I would never prequalify anybody again, a lead is a lead.” - David Carothers
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Greg Hogan, CIC, CRM, President of Curabba Agency in New York. Greg talks about how he got into the insurance industry, the nuts and bolts of purchasing an agency, and what has contributed to his agency’s success. Greg also shares how his agency has been managing during the COVID-19 situation.
Episode Highlights:
David introduces Greg Hogan. (1:24)
How easy was it for Greg to transition to working remotely? (2:39)
David shares that technology works better when working remotely than working in the office. (3:17)
Has Greg had any technology issues since working on remote? (3:25)
Greg says EZLynx is a very meticulous website for quoting. (9:02)
David uses Swift as his benchmark when he runs everything through the quote rush. (10:13)
Greg uses PL Rater and all of their company uses it. (10:16)
David asks, what's going to happen when the chargebacks start hitting? (16:37)
Greg says that personal lines are the driver of the renewal stream income. (19:55)
Greg says the revenue growth spike could also be a revenue dive when you lose one of the accounts. (21:54)
Greg shares what it was like when he acquired an agency vs. acquiring a book of business (23:15)
Greg talks about his agency career. (23:51)
Why did Greg buy the whole agency instead of the assets or the book? (26:32)
Greg mentions what his old mentor said to him. (27:09)
Greg shares that he digitized the whole agency and retrain his employees in using the database. (32:09)
How is Better Agency working for Greg’s agency? (38:14)
David mentions that we live in an instant society where everybody wants everything instantly. (40:39)
Tweetable Quotes:
“You have stuff and you just don't know all the features and uses of it.” - Greg Hogan
“When you buy an agency, you're buying things that have been done wrong.” - Greg Hogan
“If you buy garbage data, you're going to have garbage data until you clean it.” - Greg Hogan
Resources Mentioned :
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
Greg Hogan LinkedIn
Curabba Agency
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck talk about how to use mods, audits, certificates of insurance, and other simple tactics to create doubt, drive wedges, and close deals. Episode Highlights:
David shares why he wants to talk about doubt. (1:53)
David says that he’s good at creating doubt by asking a question and presenting scenarios to people. (2:26)
Kyle feels that the stuff they have in their solicitation calendar is based on driving a wedge and creating doubt. (3:31)
David shares the perfect time to validate our mod if it’s getting higher than the average. (5:12)
What type of updates does Kyle have for his last runs about the current situation? (5:42)
Kyle says they noticed that people don’t know what their dividend looks like for the policy. (07:51)
David thinks that the most effective way to get somebody from zero to 60 is their audits or the amount of time that it takes to get certificates. (11:21)
David thinks that the reason why agents fail is that no one educates them about the audit. (12:10)
David says if you want a good strategy for driving a wedge around certificates of insurance, look at what the certificate is requesting and what the certificate request looks like. (14:34)
David shares the two questions he always asks about surrounding property. (16:48)
David says that if we just sit back, make things as fundamental as possible, and execute 100% on it, we’re going to write more business. (20:11)
Kyle explains why he’s looking for low dollar indemnity claims. (22:44)
David explains why we need to make sure that agents understand or validate every single step of the process. (29:00)
A lot of David’s friends that own agencies are talking about how they’re getting hammered because of COVID. (31:03)
Tweetable Quotes:
“If you guys take the information that we have given you in this podcast, and you just dissect it, study it, and execute on it. You're gonna kill it absolutely.” - David Carothers
“When we're meeting with somebody, or even if you're just on a first appointment with a gatekeeper we want to create enough doubt or buzz, to get past the objection and get these people to start thinking the way you want them to think.” - David Carothers
“All this all of this stuff is super simple that anybody can do, you don't have to be an expert to make this happen. It's simple sales 101.” - Kyle Houck
Resources Mentioned :
The Power Producer’s Podcast
David Carothers LinkedIn
Kyle Houck LinkedIn
Killing Commercial Insurance
Florida Risk Partners
In this episode of The Power Producers Podcast, David Carothers, and co-host Kyle Houck interview Ryan Hanley, the founder of Rogue Risk. Ryan shares what he has learned since starting his agency from scratch including the importance of believing your value proposition, investing in yourself and listening, and learning from others. Episode Highlights:
David introduces Ryan Hanley. (1:24)
Ryan considers himself as an agency owner in name only at this point. (2:57)
Ryan mentions that he uses QQ Catalyst and Agency Zoom. (7:05)
David explains that the internet has created a competitive environment. (8:30)
David says that automation is a buzzword. (9:02)
David mentions that there is nothing more basic than direct mail. (11:10)
What were the obstacles that Ryan faced? (11:27)
What exactly is Ryan trying to figure out? (15:36)
David says that people get frustrated with telemarketing or calling to set appointments, and they give up. (18:19)
David shares why you don't have to be the smartest person in this industry to succeed. (21:54)
Ryan shares what has learned a lot in seven weeks of selling insurance. (27:26)
How many carriers are forcing webinars daily? (28:28)
Ryan says that you will learn a ton by calling your carrier to ask questions. (28:48)
David shares that he wants to create a community rather than a training program. (34:02)
Ryan says that he has so much respect for IAOA. (35:06)
Kyle talks about marketing drops. (38:57)
Key Quotes
“You do not just go out and people come running up to you for insurance.” - Ryan Hanley
“You learn more from the ones that you lose than the ones that you win.” - Ryan Hanley
“Once I start to really believe my value proposition that I am coming in to help you, it gets so much easier. Because now if you don't want to do business with me, that's fine. But I know I'm helping you. ” - Ryan Hanley
Resources Mentioned: David Carothers LinkedIn Kyle Houck LinkedIn Ryan Hanley LinkedIn Rogue Risk
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss the significance of management liability, cyber exposure, and buy-sell agreements given the current COVID19 situation. Episode Highlights:
David says COVID is going to present opportunities to grow in front of accounts that they may not have before. (3:38)
David talks about cyber exposure. (4:06)
David thinks that there are cyber concerns with people who are not going back to the office. (4:18)
David says that employers are not having difficulty with agents who are working at home because they're more productive than before. (4:37)
The first thing we need to do is go out and get educated on what exposures are included in cyber coverage. (5:48)
Kyle says that most of the people who are engaged with cyber don’t think that they have cyber exposure. (9:33)
David says that managed service providers are the ones who can assist with actual system integration and things that need to happen to make sure the company is protected. (13:18)
David explains why you should include a marketing piece or a program to provide the best practices for cybersecurity and a remote workforce. (14:53)
David explains why we’re going to see increased sensitivity to claims for wrongful termination, discrimination, and harassment. (17:07)
David shares why he feels better bringing in 401k experts. (20:16)
David says that he’s looking for companies that have grown fast to make sure that they have enough to fund management liability. (21:54)
David provides tips on how to discuss a buy-sell agreement during this time (22:38)
Kyle says that worker’s compensation is always relevant. (26:55)
Kyle thinks that cyber, management liability and buy-sell agreements are good ways to differentiate yourself in the current situation. (24:42)
Tweetable Quotes:
“We all have opportunities that we let slip through the cracks every single day.” -David Carothers
“If you don't have relationships with retirement planners, or services providers in the cyber area, or any of these people that can really come in and drive value, to assist with those things that an insurance program is not going to help with, you're missing the boat,” -David Carothers
“There's going to be people that are going out and trying to get back in the swing of things and they're gonna all be doing the same thing that they were doing before, they're going to be doing you know, what everybody else is doing but I think if you can just differentiate yourself...with these three things here with the cyber with the management liability, and with the buy-sell stuff, that's all perfect in terms of the current situation right now.” Kyle Houck
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
In this episode of The Power Producers Podcast, David Carothers, and co-host Kyle Houck interview Mike McDonough, the leader of Worker’s Comp Renegade and director of McDonough Insurance Services. Mike talks about how he shifted his career from being in the food industry into the insurance services, the Worker’s Comp Renegade being a strategic partner, and the impact that the Worker’s Comp creates in an employer’s life. Episode Highlights:
Mike shares his background story and the key to his success. (5:52)
Mike explains how he handles different personalities when management changes. (7:57)
Mike attributes his success with Farmers to his training at State Farm. (10:29)
Mike shares how they evolved through the insurance business and industry. (11:32)
Mike realized that controlling Worker’s Comp makes an impact on an employer’s life. (12:07)
Mike explains how they help employers, primarily by setting up a proactive program and working with them throughout the claims procedure. (18:46)
What's the biggest obstacle Mike faces when trying to engage with an employer that has an issue? (19:15)
Mike shares that there are employers that will consider a deductible, and there are employers that will look at a self-insured program. (25:34)
Mike states that when you're self-insured, you're involved in the whole claims process, and you're hiring a TPA that's in alignment with your company. (26:23)
Mike explains why their litigation rate is below 15% because of the triage. (40:57)
Mike shares the advantage of having a bilingual on his team. (42:51)
Mike believes that brokers can really do a good job and help employers to improve their bottom line. (1:02:18)
Mike says if you don't understand worker's comp, contact people that do know workers comp, and are willing to mentor you. (1:02:54)
Mike states that if you're going to write a worker's comp, do yourself and your clients a favor, and learn as much as you can about it because that's the only way you're going to benefit them. (1:04:10)
Key Quotes:
“I'm just a firm believer that if you do the right thing, the money will come”. - Mike McDonough
“They make mistakes. We all make mistakes, but the bottom line is that you need to have accountability”. - Mike McDonough
“The worker’s comp is a huge profit center for these PEOs.” - Mike McDonough
Resources Mentioned :
David Carothers LinkedIn
Kyle Houck LinkedIn
Mike McDonough LinkedIn
Workers Comp Renegade
McDonough Insurance Services
In this episode of The Power Producers Podcast with David Carothers and co-host Kyle Houck, Kyle shares his background story, what he has learned along the way in the insurance industry, and the secret to his success.
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Jennifer Klages, owner of My Choice Insurance Group PLLC. Jennifer shares how she became an agency owner, the challenges she faced, and how her passion and resilience have helped her become the great agency owner she is today. Episode Highlights:
How Jennifer joined the insurance world (03:04)
Jennifer’s experience at Allstate insurance (05:45)
What inspired Jennifer to start her agency? (13:54)
How many carriers does Jennifer work with currently? (17:42)
Ethan’s story and how it inspires David and lessons we can learn from Ethan (22:19)
What systems does Jennifer use in her agency to help keep up with everything in her agency? (35:09)
What stands out in how Jennifer operates her agency? (38:58)
Has COVID affected Jennifer’s business? (39:52)
What’s Jennifer building in her garage? (47:12)
Where does one acquire the skill set to build a trailer from the ground? (47:27)
Jennifer’s advice to anybody who is looking to become an insurance agency owner (51:21)
Apart from insurance, what is Jennifer’s other passion? (55:25)
Tweetable Quotes:
“For me, if I want something and I get a, no, it doesn’t mean never. It just means no right now.”-Jennifer
“Every challenge creates an opportunity if you are paying attention.”- Jennifer
“Your success is a reflection of how successful you are.”
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Jennifer Klages LinkedIn
My Choice Insurance Group PLLC.
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Chris Greene, President of The Flood Insurance Guru. Chris talks about the importance of flood insurance, the difference between Private Flood Insurance and the NFIP, and the three things that helped him build a national brand for his company. Episode Highlights:
Chris Shares his background story and his secret for success. (2:00)
Chris says that he grew up with a severe learning disability. (8:17)
Chris explains the flood policies his company provides? (8:41)
Chris explains the automation process when someone requests a quote on his website. (13:41)
Chris shares that the whole point of NFIP is to make sure the customer has something. (14:40)
Chris shares why it’s important to make the agent look like a rockstar. (15:13)
How many agencies does Chris work with right now? (15:20)
Chris explains the difference between the National Flood Insurance Program and Private Flood Insurance Companies (15:51)
Chris explains why the rates are changing based on proximity to the water. (18:50)
Chris shares the reason why he plans to buy a camper. (20:58)
When did Chris decide to get ridiculous with content? (25:28)
Is Chris doing the same content for his blogs and videos? (26:02)
Chris shares why Ryan Hanley is one of his biggest mentors. (28:00)
What did Chris learn from Marcus Sheridan? (32:20)
Chris shares that he gets a list of every single flood map update across the country. (40:08)
Does Chris think the government can keep NFIP in place? (44:23)
What's the most important thing people need to know about flood insurance? (45:19)
Key Quotes:
“I think I'm a spitting image of overcoming an objection. I'm a big advocate for kids with learning disabilities.” - Chris Greene
“Always remember you’re a marketer first. You're an insurance agent second.” - Chris Greene
“Our whole job is to make that agent look like the rockstar to the client so that they have a client for life, which means, we have a client for life.” - Chris Greene
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Chris Greene LinkedIn
The Flood Insurance Guru
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Ricky Hayter, owner of ANR Insurance Group. Ricky shares the challenges he faced when starting his own company, and why researching is so important in insurance. Ricky also explains how ANR Insurance Group focuses on superior client experience. Episode Highlights
Ricky shares his background story and the secret of his success. (8:24)
Ricky shares how started with State Farm. (10:46)
Ricky spent a week researching what an insurance agent does in general. (11:55)
What was Ricky’s biggest takeaway from working at State Farm? (14:11)
Ricky explains how he learned how to change his mind on the independent side. (19:22)
Ricky shares his background in light industrial work. (22:46)
What has been the biggest obstacle for Ricky making that change from personal lines? (23:21)
How many people would Ricky get back if he just started laughing for no reason? (39:33)
Ricky explains why he loves insurance and helping people out. (23:23)
Ricky says that he’s excited to start working with people that take or appreciate his advice. (27:14)
Ricky talks about when he spent a year doing nothing but cold calling leads day in and day out to build a personal lines book. (34:44)
Ricky shares how he built a decent base of his personal lines book. (42:21)
What is Ricky’s reading list? (49:53)
David and Kyle share their favorite sales book. (56:41)
What is Ricky’s favorite thing about being an independent insurance agent? (59:17)
Ricky explains how he got really good at overcoming objections. (35:10)
Tweetable Quotes:
“You have to do four things to be more successful than your peers in the insurance industry or any industry. Be on time, return phone calls and emails in a proper timeframe, do what you say you’re going to do, and if you don’t know the answer, don’t make one up.” - David Carothers
“I'm excited to start working with people that do take my advice or appreciate my advice and want to hear it.” - Ricky Hayter
“For agents that are younger starting out, there’s no right way. The right way is, what gets you paid and what makes you happy.” - Ricky Hayter
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Ricky Hayter LinkedIn
ANR Insurance Group
In today’s episode of The Power Producers Podcast, host David Carothers and co-host Kyle Houck, interviews Bob Klinger, President and CEO of Klinger Insurance Group located in Germantown, Maryland. Bob discusses his military background, what brought him into the insurance industry, marketing strategy, his staff, and giving back. Episode Highlights:
How did Bob Klinger get into the insurance industry? (2:49)
Why did Bob Klinger decide to start a dry cleaning business? (5:37)
Bob explains the importance of working in various roles to understand the pieces and parts of what made their operations tick. (8:36)
Why does Bob take his staff on field trips? (13:23)
Bob shares how his Ranger mentality impacted his managing style and how he has evolved. (15:26)
Everyone that holds a desk at Klinger Insurance Group has to hit numbers, daily/weekly goals, and incentives. (17:26)
Hiring and probationary periods. (18:24)
Prioritizing your daily routines. (26:41)
Using your CRM and tracking outbound calls. (28:46)
Why is it important to execute a defined process? (30:58)
Marketing, advertising, and giving back to the community. (39:01)
3 Key Points:
Bob discusses his humble beginnings and rise into the insurance business.
Staff field trips help staff to learn, understand, and speak the industry language their clients speak.
Creating routines, sticking with them, and prioritizing for success are essential for producers and sales teams.
Key Quotes:
“I think that if anything gives me chills, it’s giving back. You know, I grew up pretty easy, I grew up pretty poor, and so being in this industry has given me a blessing and a standard of living to give back.” - Bob Klinger
“No matter who you are, you have to execute the process that has been defined, that has been proven to be successful to perfection.” - David Carothers
“I just realize that not everybody's going to think like you; in some cases, that's good.” - Bob Klinger
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Bob Klinger LinkedIn
Klinger Insurance Group
In this episode of The Power Producers Podcast, David Carothers, and co-host Kyle Houck interview Josh Gurley, the vice president of Hunt-Miller Insurance Agency Inc. Josh talks about the importance of transparency, education, and good relationships. Josh also shares how specific behaviors can lead to success.
In this episode of The Power Producers Podcast, David Carothers interviews Bryan Bergjans, National Director of Military & Veteran Lending at Caliber Home Loans. Bryan talks about what Caliber is doing for military personnel and veterans during COVID-19 and how Caliber works to bridge the home loan education gap with community outreach. Bryan also discusses why it is important to think outside the box, expand your commitment, and message through organizations that are outside your industry.
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Jason Kilgo, Founder of KilGO Insurance. Jason talks about how they treat their clients, providing the best rate with a good policy, and making sure their clients are satisfied. Jason also shares how his team has been working remotely even before the quarantine and how he manages zoom meetings with clients.
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Scott Beene, the CEO of Diversicom Corporation. Scott Beene talks about his unique views of Managed Services and why you should invest in Managed Service Provider. Scott also shares that he participated in four different groups and why building trust and relationships with clients is important.
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Chris Langille, Founder of Advisor Evolved. Chris talks about website development, the importance of SEO and pay-per-click, knowing the entire process from top to bottom in doing niche marketing, and the importance of having a VA in the organization.
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Gabriel Oh, Principal at Western Pacific Insurance Group. Gabe talks about how he got into the business of insurance, his passion to support small local businesses, and shares his advice on how business owners can start doing something for their communities.
In Episode 4, we welcome Chris Cotton, founder of AutoFix SOS to the show. Chris spends his time helping automotive repair facilities improve their processes and, in many cases saves their business. Several years ago, Chris and his wife sold their home and a good bit of their personal belongings. They bought a fifth wheel and that is how they visit their clients. We envy his ability to be flexible and change his work environment while delivering excellent value to his clients. In addition to the morning routine mentioned on the show, Chris spends 45 minutes daily on Duolingo learning to speak German, Italian and Portuguese. Talk about a true Renaissance man!
In this episode, David and Kyle talk with David Lefevre from Salespwr.com. David is a CRM and Automation expert with a ridiculous resume in the marketing space. David is an avid fisherman, a father, and an overall good guy. David spends time unpacking the biggest obstacles he has encountered while implementing CRMs and automation with his clients and former employers as well as some of the biggest successes. If you are struggling to define your process, this episode is a "must listen."
Inside the Mortgage Mind features Bryan Lovell, National Director of Business Growth at VanDyk Mortgage. Bryan joined VanDyk Mortgage in 2011 as National Sales Manager, bringing over a decade of experience in Sales Leadership positions. He currently serves as the National Director of Business Growth, where he focuses on growing their branches and sourcing new recruits and opportunities. Bryan is a John Maxwell Team certified independent speaker, coach, and trainer and enjoys helping others break through ceilings of achievement. He enjoys playing and coaching soccer, softball and spending time with his family. In this episode, we dissect the things that motivate already highly motivated salespeople, how salespeople isolate themselves and quickly adopt a victim mentality, how to set up a sales team to succeed and also how the insurance industry can do a better job of relating to mortgage professionals. Of course, there are a few very entertaining sidebars along the way!
Marketing 2.0 a Decade Later is a deep dive into “Modern Selling” with the Godfather of social media marketing Mr. Bernie Borges. Bernie is currently the Chief Marketing Officer of Vengreso. He is host of the Modern Marketing Engine podcast and the author of Marketing 2.0, one of the first 50 books written on social media strategy. This episode unpacks the evolution of online marketing in the decade since Bernie authored his book. From social media marketing to “modern selling”, Bernie Borges has remained a thought leader and one of the most respected figures in the digital marketing world, continually recognized for his leadership. Bernie is recognized by TopRank as a Top 50 Content Marketing Influencer, by Onalytica as a Top 100 Artificial Intelligence Influencer, as well as a Marketing Insider Group Top 60 Marketing Speaker. He is a regular contributor to Social Media Today and Business 2 Community.