Spot On Insurance: Recent Episodes
Spot On Insurance
From Arleen and Ted Taveras the founders of Insurance Licensing Services of America, Inc. (ILSA) comes Spot On Insurance, a weekly podcast shedding light on all matters pertaining to the industry. Guests will include regulators, agency principals, captive managers, industry attorneys, and licensing coordinators. Discussions will range from basic insurance coverage explanations to complex regulatory challenges.
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Mick Hunt is the CEO of Premier Strategy Box, a strategy service provider that provides turn-key solutions for agencies wanting growth, management, and better profitability. He has over 18 years of experience and has successfully provided marketing expertise for various financial and insurance institutions. As CEO, Mick specializes in business development & networking, lead generation & digital platforms, CRMs, databases, agency management systems, and data analytics.
Mick joins us to discuss how leaders should treat their businesses, and how much time and money they should put into strategizing. He explains how having a competitive mindset sets companies up for success. He discusses different marketing strategies and why email campaigns are still good lead sources. Mick also shares the importance of establishing a good and well-executed customer onboarding experience and why it’s critical to deliver pain statements to attract clients.
"You're not in the insurance business; you're in the business of your niche markets." - Mick Hunt
Today on Spot On Insurance:
- Where Mick grew up, his favorite sports, and his educational experience
- Why Mick wanted to work in insurance
- How much Mick knew about insurance before he joined the industry
- How a competitive mindset enables business success
- The challenges Mick faced when he started an agency
- Why Mick believes producers aren't in the insurance business
- What Premiere Strategy Box is about and the services they offer
- The best place to start your marketing campaign
- The importance of developing producers in your organization
- What the new customer onboarding experience is all about
- Learning to deliver pain statements to attract clients
Key Takeaways:
- If your salespeople aren't competitive, they're not going to make it.
- Agencies are just doing marketing, but have nothing to do with who their ideal client is.
- People don’t go out shopping for insurance; they buy it when they need to.
- Having a mindset of being the best opens the path for success.
Resources Mentioned:
- Patrick Bet-David Interview with Kobe Bryant
- Ep. 103: How an Insurance Pro Prepares for the Next Market Crash
Connect with Mick Hunt:
- Premiere Strategy Box
- Mick Hunt on LinkedIn
- Email:mick.hunt@mystrategybox.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Ryan Sachtjen is the Co-Founder and CEO of ThreeFlow, a company that’s described to be the first Benefits Placement System exclusively designed for employer benefits brokers & carriers. Ryan founded ThreeFlow to help eliminate administrative complexities that dominate the buying, selling, and managing of insurance products and services. Their goal is to streamline workflows between employer clients, brokers, and carriers. Before founding ThreeFlow, Ryan served as the Senior Stop Loss Specialist at Sun Life Financial, one of the largest insurance companies in the world.
Ryan joins us to discuss what ThreeFlow mission and the problems he wishes to solve in the insurance industry. He shares his experience in the corporate world, working with one of the largest insurance companies and explains the importance of intentionality when you want to launch a new product in any industry. Ryan discusses how ThreeFlow benefited from the pandemic, their growth rate, and how many people work with them now compared to two years ago. Ryan also shares his thoughts on where he believes legacy carriers are currently heading in regards to growth strategies.
“Efficiency unlocks growth, growth unlocks workflows, and all those workflows unlocks intelligence.” - Ryan Sachtjen
Today on Spot On Insurance:
- Where Ryan grew up, his childhood, and how he found his path to insurance
- Ryan's passion for fishing and the best way to fish for musky
- What Ryan observed about the employer benefits space
- Transitioning from the corporate world to building a tech startup
- The frustrations Ryan experienced while being part of a large company
- What ThreeFlow is and the products they offer
- Being intentional in the products and services your company provides
- How the pandemic accelerated their business growth
- What Ryan observed with transition rates between carriers in the last two years
- Ryan's thoughts on where legacy carriers are headed in terms of growth strategies
Key Takeaways:
- Growing and learning is key.
- Big companies are stable and allow for growth, but they can be rigid on how fast you can grow.
Connect with Ryan Sachtjen:
- ThreeFlow
- Ryan Sachtjen on LinkedIn
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Michael Zalle is the CEO & Founder of YellowBird, a tech platform that helps businesses fill their environmental, safety, and health roles. They pride themselves on making it easy to sign up as a professional or business owner. Michael has extensive tech experience in the safety, health, and environmental markets. He’s a serial entrepreneur who built and successfully exited multiple companies over the last 25 years. Being a disabled person himself, Michael is also a Certified (8a) Disability Owned Business Enterprise Founder.
Michael joins us to discuss what YellowBird is and the recruitment services they offer. He shares how he made his way into the insurance industry and how he didn’t let his disability get in the way of his dreams. He explains how YellowBird thrived during COVID-19, how they make sure their clients comply with OSHA, and the one hiring mistake that forced them to change their system. Michael also shares his thoughts on diversity and being a platform that acts on the problems detected by hundreds of insurance software.
"We’re not a staffing company. We have talent-on-demand."- Michael Zalle
Today on Spot On Insurance:
- The physical challenges that allowed Michael to develop in particular ways
- Not treating his disability as a burden
- Michael's thoughts on diversity in the workplace
- What drew Michael to the insurance industry
- The challenges YellowBird solves
- How YellowBird ensures clients comply with OSHA
- Where the name YellowBird came from
- What it's like to be a disability-owned organization
- How they got some tailwind during COVID-19
- The most challenging event their organization experienced
Key Takeaways:
- Safety doesn't sleep, so don’t hire people who might disappear when you need them the most.
Resources Mentioned:
- Traction: Get a Grip on Your Business by Gino Wickman
Connect with Michael Zalle:
- YellowBird
- YellowBird on Twitter
- Michael Zalle on LinkedIn
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Chris Senkbile is the Founder & CEO of Project Ferro, a commercial policyholder platform founded by brokers for brokers. They offer various products and solutions for brokerages, providers, and policyholders with the goal of improving renewal speeds by up to 75%. Chris began his insurance career in 2014 and has been named as one of the Insurance Business America’s Rising Stars in 2020. He is also the VP and Risk Consultant with UNICO Group, an insurance brokerage in Nebraska.
Chris joins us to describe how Project Ferro got started and the problem they want to solve in insurance. He explains how Project Ferro can speed up renewals and help clients be more efficient in processing data. He discusses what it was like to start Project Ferro in the middle of the pandemic and where they expect to see themselves in five years. Chris also shares the number one challenge for brokerages and what sets Project Ferro apart from their competition.
"The more we focus on creating solutions for the policyholder to engage with insurance, the more they get efficient in terms of processing information." - Chris Senkbile
Today on Spot On Insurance:
- Chris' life as a country boy driving tractors
- Why Chris is fond of being active, playing sports, and manual labor
- How basketball paved the way for Chris to join insurance
- The origin story of Project Ferro's name
- What clients praise their company for
- The number one challenge for brokerages
- What sets Project Ferro apart from the competition
- Having a bootstrap mindset as a company
- Being selected in the Future Fellows Program
- Where Chris expects Project Ferro to be in five years
Key Takeaways:
- The true value of a business is client retention.
- A lot of processes in insurance are repetitive.
- You have to identify what needs to be fixed in your chosen industry.
- Clients care about the value you bring, not the amount of paper you push in the brokerage.
Resources Mentioned:
- ITC Vegas 2022
- Ferro Leads The Charge In Insurtech Innovation
Connect with Chris Senkbile:
- Project Ferro
- UNICO Group
- Project Ferro on LinkedIn
- Email: chris@projectferro.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Jamie Peers is the VP of Business Development and Partnerships at Synatic, a platform that offers ETL and powerful data integration. They work by modernizing and optimizing your company’s data management structure to keep you ahead of the competition. In his role, Jamie excels in improving business efficiency and is responsible for strategic partnerships. He has over 20 years of experience in the SaaS industry, works closely with sales and marketing teams, and is in charge of process implementation.
Jamie joins us to discuss how Synatic revitalizes the way a business approaches its data, particularly its unused data. He shares what it was like to grow up in South Africa during the apartheid era and how the business atmosphere shifted after the era ended. He explains how Synatic works for data integration and describes what it takes to properly solve a company’s data needs. He shares the common pain points their clients experience and what happens when they get a contract started. Jamie also explains how their company creates order out of the data of chaos and the nature of incremental growth as human beings.
"Pick the thing that's creating the most chaos and you fix it." - Jamie Peers
Today on Spot On Insurance:
- What it's like growing up in South Africa during the era of apartheid
- The business atmosphere in South Africa post-apartheid
- Working with aggregated and integrated data
- The complexities involved in solving your data needs
- Pain points their clients experience and the onboarding process
- How their software evolved with the requirements of their customers
- Creating order out of the data of chaos
- The nature of incremental growth as a human
Key Takeaways
- There are a lot of data security software and companies out there, so it’s important you know what works best for your needs.
- Insurance agencies need more than small integration packages.
- You need to go on a journey to solve your data needs.
Resources Mentioned:
- ITC Vegas
Connect with Jamie Peers:
- Synatic
- Jamie Peers on LinkedIn
- Email: jamie@synatic.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
Apple Podcasts Rate and Review for Spot On Insurance
Jamie Peers is the VP of Business Development and Partnerships at Synatic, a platform that offers ETL and powerful data integration. They work by modernizing and optimizing your company’s data management structure to keep you ahead of the competition. In his role, Jamie excels in improving business efficiency and is responsible for strategic partnerships. He has over 20 years of experience in the SaaS industry, works closely with sales and marketing teams, and is in charge of process implementation.
Jamie joins us to discuss how Synatic revitalizes the way a business approaches its data, particularly its unused data. He shares what it was like to grow up in South Africa during the apartheid era and how the business atmosphere shifted after the era ended. He explains how Synatic works for data integration and describes what it takes to properly solve a company’s data needs. He shares the common pain points their clients experience and what happens when they get a contract started. Jamie also explains how their company creates order out of the data of chaos and the nature of incremental growth as human beings.
"Pick the thing that's creating the most chaos and you fix it." - Jamie Peers
Today on Spot On Insurance:
- What it's like growing up in South Africa during the era of apartheid
- The business atmosphere in South Africa post-apartheid
- Working with aggregated and integrated data
- The complexities involved in solving your data needs
- Pain points their clients experience and the onboarding process
- How their software evolved with the requirements of their customers
- Creating order out of the data of chaos
- The nature of incremental growth as a human
Key Takeaways
- There are a lot of data security software and companies out there, so it’s important you know what works best for your needs.
- Insurance agencies need more than small integration packages.
- You need to go on a journey to solve your data needs.
Resources Mentioned:
- ITC Vegas
Connect with Jamie Peers:
- Synatic
- Jamie Peers on LinkedIn
- Email: jamie@synatic.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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William Gammon is the Principal Owner and Founder of Gammon & Associates. He helps serious business owners grow their list of clients, improve sales, and generate more revenue and profits quickly and efficiently. William is recognized for helping his clients exponentially grow their bottom line within 12 months without working more hours. With over 30 years of experience in the financial industry, William has honed his craft for building businesses and growing their leaders. He specializes in sales, marketing strategy, and individual and group coaching.
William joins us to discuss the three cornerstones of a successful business. He shares how he discovered the benefits of coaching while playing chess against a grandmaster and discusses the best way for a company to stay afloat, especially during financial disruptions like COVID-19 or the Russia-Ukraine war. He explains the best way leaders can kickstart their marketing strategies and the importance of being transparent about risks, rewards, and business results. William also shares his wisdom on why more success often equates to more giving back.
"One of the things losing teaches you is how to win." - William Gammon
Today on Spot On Insurance:
- William's childhood and the moment his father asked him to move across the globe
- How William learned the importance of coaching from chess players
- William's chess skills and highlights
- How William got started in business coaching
- What William believes are the three cornerstones of a successful business
- The best way to turn clients into friends
- Being transparent about risks, rewards, and business results
- Why you should change your strategy with the times
- How business leaders should kickstart their marketing
- William's advice to those who are unsure about where they are professionally
Key Takeaways:
- If you're not getting enough leads, you're not fishing in the right pond.
- Sometimes we don't see what's coming, but when it's here, we need to recognize it and be open to creating ways to do what's right.
- The biggest building block in any business is underpromising and overdelivering.
Connect with William Gammon:
- Gammon & Associates
- William Gammon on LinkedIn
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Jeff Radke is the Co-Founder and CEO of Accelerant, an insurance carrier that works exclusively with MGAs and Program Administrators. The company differentiates itself with what they refer to as aggressive transparency in each step of the process. Jeff has over 30 years of experience working in the insurance and reinsurance spaces and has held various C-suite positions across five international markets. Before co-founding Accelerant, he worked with Argo Group International Holdings for over ten years, holding the position of Group Head of Strategic Initiatives for the last two.
Jeff joins us to describe what makes Accelerant unique from other carriers and what having aggressive transparency means. He shares what he learned as an intern at Guy Carpenter and how those lessons and experiences led him to where he is today. He explains Accelerant’s focus market and why they specifically cater to niche needs. Jeff also discusses his thoughts on data, the future of insurtech, and why their ideal member is a man named Stan.
"Portfolios lose their way. They don't stay on the straight and narrow without a lot of effort." - Jeff Radke
Today on Spot On Insurance:
- Jeff's childhood, his favorite hobbies, and how he found a career in insurance
- What Jeff learned from interning at Guy Carpenter
- Why Jeff liked working in the reinsurance industry
- The niche businesses they serve
- What Accelerant is and why they specialize in niche categories
- How technology paved the way for their existing business model
- Where the name "Accelerant" came from
- What Jeff believes will be the future of insurtech
- Why insurance is more expensive than it needs to be
- Jeff's thoughts on the underutilization of data
- Who their ideal member is and why it's named Stan
Key Takeaways:
- It's not okay for the data to be buried and rendered unusable.
- Lack of data transparency indirectly makes insurance expensive.
Connect with Jeff Radke:
- Accelerant
- Phone: (210) 452 0249
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Ty Harris is the CEO & Co-Founder of Openly, an insurance company that provides premium homeowners insurance products. They have a unique, cutting-edge platform for independent agents that allows them to obtain a quote in just 15 seconds. Before starting Openly, Ty was part of Liberty Mutual Insurance for over 12 years, with eight years as Vice President of various departments. At Liberty, he led multiple pricing, product, innovation, and underwriting programs. He is also a fully-credentialed actuary.
Ty joins us to describe how Openly distinguishes itself from competitors and how its system can produce quotes in 15 seconds. He shares his thoughts on flights, his passion for debates, and why he founded Openly. He explains the difficulties of finding your first investor and how it gets more accessible. He discusses how COVID-19 has shifted various industries to adopt hybrid working conditions and its effects on commercial spaces. Ty also explains why they built their platform for agents even though both consumers and agents can use it.
"I want to minimize the number of times a human being has to go out and see a claim and disturb the customer as part of it." - Ty Harris
Today on Spot On Insurance:
- Ty's thoughts on the current price of flights
- Ty's passion for debates and how he raises his kids
- When Ty gravitated toward being an entrepreneur
- The reason Ty started Openly
- Ty's career before he founded Openly
- What was lacking in the homeowner's market?
- Openly's remote-first approach to work
- How they managed their funding when they were starting the company
- How commercial spaces are being turned into residential units
- The future of dog insurance and claims
- The agent experience on the Openly platform
- Why they are agent-centric as a company
Key Takeaways:
- If you're not careful, you can end up with coverage that doesn't cover certain exposures.
- Finding the first investor is always the hardest in starting a company.
Connect with Ty Harris:
- Openly
- Ty Harris on LinkedIn
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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James Benham is an entrepreneur, technologist, pilot, speaker, CEO, and podcast host. He is the Co-Founder of TerraClaim, a company that offers the latest cross-industry data analytics and benchmarking solutions. He also co-founded SmartCompliance, a tracking software that streamlines everyday processes by insurance professionals and is the host of The Insuretech Geek podcast, a show dedicated to the latest insurance technology news and innovations.
James joins us to describe business management best practices, especially regarding short and long-term goals. He shares what it was like growing up in Louisiana with Luddite parents, where his passion for programming started, and how it ultimately led to pursuing an insurance career. He discusses the future of claims management and how AI can streamline the various processes involved. James also describes the emotional rollercoaster of selling a business and shares his best advice on how to handle it.
"You have to have a system that's prepared to handle a lot of unstructured data and structured data, and give you easy access to it." - James Benham
Today on Spot On Insurance:
- What it was like growing up in Louisiana and being raised by Luddite parents
- How James found his passion for programming
- Pursuing a career in the insurance industry
- Why James always wanted to play the guitar
- Identifying when it’s the right time to sell a business
- Why you become wiser after a recession
- What James learned from his first start-up
- The type of challenges James’ team helps their clients solve
- The future of claims management
- Improving existing claims technology and data analytics
- What "Building Mad Scientists" is all about
- Why no one actually has ‘spare time’
- James' advice for effective business management
Key Takeaways:
- Every claims adjuster out there applies discretion to everything they do.
- You have to focus on the problems your company needs to address, not the next shiny object.
- It tests your mettle when you're starting a business, especially when you’re barely breaking even.
Resources Mentioned:
- Entrepreneurs’ Organization
- MCAI Speaker Series - James Benham "Building Mad Scientists: Disrupt your Company with Technological Innovation"
Connect with James Benham:
- James Benham Official Website
- JBKnowledge
- TerraClaim
- SmartCompliance
- The Insuretech Geek Podcast
- James Benham on Twitter
- James Benham on LinkedIn
- James Benham on Facebook
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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William Herkelrath is the Managing Director for Chainlink Labs, a fintech company that provides blockchain-based oracle solutions. They aim to help usher in a future where every contract is fair, transparent, and efficient. William has over 28 years of experience in sales, business development, and commercialization. His role as Managing Director revolves around product development, analytics, market planning and positioning, and team management.
William joins us today to discuss how blockchain will affect how every industry does transactions in the next few years. He shares how the renewable energy industry will capitalize on blockchain technology. He explains how Chainlink’s blockchain-based solutions work and the clients they can help. He describes how cryptocurrency enables more efficient logistics solutions than we have today. William also divulges what still excites him about blockchain.
"Blockchain is being used in private forms, but it's also being used in public forms like insurance policies." - William Herkelrath
Today on Spot On Insurance:
- How William's childhood revolved around tech
- Why William didn't want to pursue a career in tech and his current profession
- What working overseas taught William
- What Chainlink Labs is all about
- How blockchain will help streamline the insurance industry
- How farmers can benefit from Chainlink's services
- The uses of blockchain for logistics and supply chains
- What excites William about the blockchain
- How crypto can be a revolutionary concept in developing countries
- The future of solar energy insurance
- How William sees the future of blockchain and carbon insurance policies
Key Takeaways:
- Blockchain can become a genuine source of truth in any transaction.
- Sooner or later, every company will have to publicize their carbon footprint.
Resources Mentioned:
- NFTree
Connect with William Herkelrath:
- Chainlink Labs
- William Herkelrath on Twitter
- William Herkelrath on LinkedIn
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Teri Berschneider is the Director of Operations for NIC Insurance Filings, a digital solutions and payments company that partners with the government to make it more accessible. Teri has over 15 years of experience handling cybersecurity and enterprise-level IT projects of varying duration and sizes in both federal and state government sectors. She specializes in project management, cross-functional team management, and risk management.
Teri joins us today to discuss NIC’s goal to become the go-to solutions firm for governmental data exchange. She describes her life in Hawaii and Montana and how hunting shaped her worldview. She explains what NIC is, its services, and its plan to make the government more accessible. She shares how NIC prevents fraud and protects clients from cybersecurity breaches. Teri also divulges how the pandemic affected the company and how they adjusted.
"Part of ensuring valid filings and preventing fraud is to get data directly from the source—the insurance company." - Teri Berschneider
Today on Spot On Insurance:
- The downsides of living in paradise
- Teri’s dreams as a kid in Montana
- What hunting taught Teri as a child
- How Teri joined NIC and her role as the Director of Operations
- What NIC and NIC Insurance Filings are
- How they recoup their investments
- Why they only work directly with insurance carriers
- The time needed to determine if a carrier is legitimate
- How the pandemic changed their business methods
Key Takeaways:
- Most cybersecurity attacks happen through email.
- The only way to prevent fraud is by getting data directly from the source.
Connect with Teri Berschneider:
- NIC, Inc
- NIC Insurance Filings
- Teri Berschneider on LinkedIn
- Email: teri.berschneider@egov.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Patrick Zerarka is the Founder & CEO of EzyTise, a company that provides automation software with a particular focus on small businesses and sales organizations. Contrary to most automation software, their goal isn’t to replace the human aspect of your service, but to automate otherwise mundane or repetitive tasks such as checking email for leads. Patrick has over 20 years of experience managing small business operations and holding executive positions within independent insurance agencies. He specializes in software development, strategy optimization, and lead nurturing.
Patrick joins us to discuss how EzyTise provides seamless automation without removing the human aspect of your business. He shares what it was like growing up in France and the transition he made when he moved to the United States. He explains the importance of automation when scaling a business and why it’s not the end-all, be-all solution to your organization’s process troubles. Patrick also describes the difficulty of being a new brand in an already large industry and why he believes most CRMs are outdated.
"The best automation is the simplest automation you can do." - Patrick Zerarka
Today on Spot On Insurance:
- Growing up in France and why they moved to the United States
- How Patrick went from working for Pfizer to working in insurance
- The future for independent insurance agents
- Why businesses should scale for the future
- How automation boosts a company's ability to grow and scale
- Why Patrick believes most CRMs in the industry are outdated
- The services their company offers beyond automation
- Case studies of agencies using their platform
- The processes involved in onboarding a new client
- Why branding is still an issue for their company
Key Takeaways:
- Every business has a different business model, even if they sell the same thing.
- You can’t scale without automation, but automation isn’t the solution to everything.
- Commissions have been diminishing for the past 10 years.
- The insurance industry is all about relationships.
Resources Mentioned:
- Zapier
- Ep. 257: Luis Pino: Increasing Agencies’ Revenue with Intuitive Software
Connect with Patrick Zerarka:
- EzyTise
- EzyTise on LinkedIn
- Patrick Zerarka on LinkedIn
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Joshua Rogove is the President of Consolidated Risk Solutions (CR Solutions), a company that administrates insurance wrap-ups. As President, Joshua establishes a client-first, agile culture conducive to innovative thinking. He is a certified Construction Risk and Insurance Specialist and a licensed broker. Before joining the CR Solutions company family, Joshua was AIG’s New York Regional Manager for their Construction Risk Management Group.
Joshua joins us to describe how wrap-ups work and how they produce revenue. He explains the services CR Solutions offers and why he decided to pursue a career in such a niche industry. Joshua shares what it was like joining a small sector at the height of the 2008 crash and why the company fared better during the pandemic. He also discusses the importance of updating your tools and programs and why you should always connect with your client's specific software.
"In wrap-ups, unlike traditional insurance that has annual anniversary dates, the insurance carrier and everyone is committing to a multi-year policy period." - Joshua Rogove
Today on Spot On Insurance:
- Joshua’s career at AIG
- Joshua’s hobbies and why he wanted to focus on golf
- A crash course on wrap-ups
- Understanding what a wrap-up is in insurance
- What CR Solutions is and the services they offer
- Joshua's thoughts on entering a niche environment in 2008
- The difference between the crash of 2008 and the pandemic
- How CR Solutions’ services evolved over time
- The importance of connecting with their client's tools and software
- Why CRS continues to invest in software
Key Takeaways:
- A software is only good if it’s always updated.
- Admin is the most important part of the construction project, but it’s still just part of the process.
Connect with Joshua Rogove:
- CR Solutions
- WRAP
- Joshua Rogove on LinkedIn
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
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Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
Simon Severino is the Founder of Strategy Sprints, a business advising and consulting company that helps business owners double their revenue in just 90 days. They aim to help clients scale faster and innovate in finding new solutions to old problems. Simon also wears the hat of Business Strategy Advisor to various companies such as Forbes Business Council, Silicon Valley Blockchain Society, and Consilience Ventures.
Simon joins us to share what it was like growing up in Italy and how he found his entrepreneurial spirit. He describes how he helps clients double their revenue and the three steps involved. He explains how you can find business bottlenecks and what to do when you’re the bottleneck. He explains what it means to ‘fall in love with the problem, not the solution’ and why he believes this should be every entrepreneur’s motto. He discusses the three CEO habits everyone should have and the difference between agile companies and rigid companies. Simon also shares the importance of building your business to become recession-proof and why he doesn’t believe in the term “future.”
"You eliminate key-person bottlenecks and there is no limit." - Simon Severino
Today on Spot On Insurance:
- What Simon learned in Italy growing up
- Where Simon found his passion for entrepreneurship
- Establishing a business with no bottlenecks
- Why entrepreneurs should "fall in love with the problem” instead of the solution
- Future-proofing your company by focusing on the problem
- Simon's strategies for doubling your revenue
- How to identify bottlenecks in your business
- What you can do if you are the bottleneck
- The three CEO habits everyone should have
- The difference between agile and rigid companies
- Building your business to become recession-proof
- Why Simon thinks the future is just an illusion
Key Takeaways:
- Entrepreneurs are unemployable and were made to build products.
- The problem will be around forever, but the solution will change over time.
- As entrepreneurs, where we freeze is not knowing what to fix next.
Connect with Simon Severino:
- Strategy Sprints
- Strategy Sprints on YouTube
- Strategy Sprints on LinkedIn
- Email: severino@strategysprints.com
- Book: Strategy Sprints: 12 Ways to Accelerate Growth for an Agile Business
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Jeff Harris is a Co-Founder and the President of Appulate, an insurtech company that promotes digital insurance distribution between carriers and their retail partners. Currently, over 80,000 agency locations use Appulate for renewals and applications. Jeff helped create Appulate when he realized automation was becoming a need more than a want in insurance. He also has extensive expertise in all things insurance, digital distribution, staff augmentation, and recruitment.
Jeff joins us to discuss what Appulate is, its services, and how it streamlines the agent experience. He describes where his entrepreneurial passion started and what inspired him to start Appulate. He explains how the pandemic affected their business, how they continued to work with clients, and the changes they have made since the pandemic. He shares the future of independent agents and how they threaten established agencies. Jeff also describes some of the silver linings of the pandemic, particularly on appreciating Mother Nature.
"The good parts of the agency management system are those that allow an agency to manage their book of business." - Jeff Harris
Today on Spot On Insurance:
- How supportive Jeff's family was of his entrepreneur dreams
- How Jeff was introduced to the insurance industry
- Is it easier to be an entrepreneur in insurance today?
- The problems most agency management systems have
- How Appulate improves the agent experience
- The time-saving benefit of using their system
- How the pandemic impacted Jeff's team and how they continued working with clients
- Bootstrapping as an entrepreneur and its advantages during a down-turn
- The future of agencies and insurance entrepreneurship
- How the gig economy will pressure the insurance industry
- How the pandemic benefited people from a lifestyle perspective
Key Takeaways:
- Today's industry is more complex, especially with how fast technology changes.
- The insurance industry has aged tremendously and it's looking for younger workers.
Connect with Jeff Harris:
- Appulate
- Jeff Harris on LinkedIn
- Email: jharris@appulate.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Philip Charles-Pierre is the CEO of Semsee, a technology company focused on digitizing the slow and manual process of getting commercial insurance for small- and medium-sized businesses. Semsee is working towards partnering with other insurance tools designed to help agents and their respective clients. Before becoming CEO of Semsee, Philip was SVP of Distribution for Smarter Agent, a real estate company. He holds a Master’s degree in Philosophy of Religion from Harvard University and volunteers on the External Board for UNC-Chapel Hill Sonja Stone Center.
Philip joins us to share how Semsee optimizes the agent-client experience. He shares why he wanted to become a politician and what made him choose a career in insurance. He explains why agents will always be relevant in the insurance industry and describes how Semsee plans to use client data to make the insurance process as seamless as possible. Philip also shares why having more business means more opportunities to solve problems.
"The agent needs to evolve for the better." - Philip Charles Pierre
Today on Spot On Insurance:
- Phillip's ties in Haiti and his political aspirations as a child
- Why Phillip enjoys the insurance industry
- The importance of agents in the insurance buying process
- How the role of agents needs to adapt in today's market
- What sets their company apart from the competition
- The power of data and how to properly utilize it
- Why having more business means more problems to solve
Key Takeaways:
- The insurance industry is stable and recession-proof
- Today, the agent distribution is more critical than ever.
- Insurance is all about relationships.
Connect with Philip Charles Pierre:
- Semsee
- Semsee on LinkedIn
- Philip Charles-Pierre on LinkedIn
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For Spot On Insurance and share your favorite episodes with friends and colleagues!
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Manish Bhatt is the CEO & Co-Founder of Plum Life, an insurance company that aims to simplify insurance management and policy selling through its all-digital platform. Plum Life proudly describes its platform as designed to replicate an advisor's personal attention and service. With over 25 years of experience, Manish has found his way into various leadership roles across the insurance industry, leading up to the founding of Plum Life in October 2020.
Manish joins us to describe how Plum Life will disrupt the insurance industry through its advisor-like platform. He shares what it was like to grow up as a first-generation Indian immigrant and why he preferred a business career over a medical one. He explains the importance of advisors in the insurance industry. He discusses how Plum Life works and the pain points it solves. Manish also describes how the pandemic changed the way clients buy insurance and other policies.
"Advisors are the heroes of the insurance industry."- Manish Bhatt
Today on Spot On Insurance:
- Why Manish pursued a career in insurance and his interest in business
- What life was like being a first-generation Indian immigrant
- Why Manish didn't like the idea of being a doctor
- What agents should do to stay relevant
- Sales pressure and getting a client excited about insurance
- What Plum Life does differently from its competition
- The pain points their company solves for clients and advisors
- Why they tried to sell insurance at Walmart
- How the pandemic changed the insurance buyer's experience
- The projects Plum Life will use with the money they’ve raised
Key Takeaways:
- The insurance industry is a relationship business.
- Insurance is for everybody to have regardless, of financial status.
- Advisors are at the center of the insurance process.
Connect with Manish Bhatt:
- Plum Life
- Manish Bhatt on LinkedIn
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For Spot On Insurance and share your favorite episodes with friends and colleagues!
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Stacey Giulianti is the Chief Legal Officer at Florida Peninsula Insurance Company. Founded in 2005, the Florida Peninsula Insurance Company provides comprehensive multi-peril insurance for homeowners at competitive pricing through its extensive network of independent agents. Stacey oversees the company’s Claims, Special Investigations, and Legal Departments. As an attorney, Stacey has also been a member of The Florida Bar and The Maine Bar since 1993 and 2018, respectively.
Stacey joins us to discuss why Florida is a tough market for big carriers and why medium-sized carriers like the Florida Peninsula Insurance Company thrive. He explains why growing up in Florida was exciting and discusses his hobbies and experience as a sports announcer. He explains the difference between the American rule and British rule in litigation and how it affects Florida premiums. Stacey also shares what he wants Florida homeowners to know regarding their state’s lawsuits and those who abuse the system.
"The reason there are more medium-sized carriers in Florida is because it's difficult." - Stacey Giulianti
Today on Spot On Insurance:
- Why growing up in Florida as a kid was an exciting time for Stacey
- Stacey's exposure in sports as an announcer
- How Stacey joined the insurance industry
- Why Florida is a state where many carriers don't succeed
- The unique things in Florida that cause so many companies to fail
- The difference between the American rule and British rule in lawsuits
- Claims and other insurance statistics in Florida
- Managing catastrophe claims in Florida
- Are Florida homeowners aware they're shouldering frivolous lawsuits
Key Takeaways:
- Florida represents 8% of the homeowners claims in the country, but 76% of insurance litigation.
- Many carriers in Florida cannot succeed. The fact that it's difficult for carriers to succeed in Florida makes it conducive for mid-sized carriers over large ones.
- In 2021, Florida insurance companies had $1.6 billion in underwriting losses.
Connect with Stacey Giulianti:
- Florida Peninsula Insurance Company
- Edison Insurance
- Stacey Giulanti on LinkedIn
- Email: yourvoice@floridapeninsula.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Jason Keck is the CEO & Co-Founder of Broker Buddha, a platform that helps agents streamline the customer experience and operations. The platform has various tools that let you automate tasks, send forms with pre-loaded information, and reduce administrative steps. Jason has over 20 years of experience in technological entrepreneurship, which he credits to serving as a business development head and his Computer Science degree from Harvard.
Jason joins us to discuss where Broker Buddha is right now since we last spoke with him and how they held their line during the pandemic. He shares his passion for sports, the athletes he’s played with, and his thoughts on today’s quality of education. He describes how Broker Buddha can streamline agent services and the tools that are available. Jason also explains their White Glove Service and his thoughts on Blockchain.
“We focus our solutions around helping agents with the client digital experience.” - Jason Keck
Today on Spot On Insurance:
- Jason's passion for sports and the pro athletes he's played with
- Jason's thoughts on the current quality of education
- The motivation behind starting Broker Buddha
- How the pandemic impacted Broker Buddha
- The lessons Jason learned in building something new in any industry
- The market that Broker Buddha focuses their solutions
- How agents would use their platform
- Broker Buddha’s White Glove Service
- Incorporating blockchain technology into their solutions and workflow
Key Takeaways:
- Find one customer segment that has a problem you can solve. Build a business around that and do it successfully. Then, expand.
- In order to be successful, we have to keep adapting and evolving to what is going on day-to-day.
Resources:
- Episode 81: Broker Buddha
- Founder Shield
Connect with Jason Keck:
- Broker Buddha
- Jason Keck on LinkedIn
- Email: jason@brokerbuddha.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
Natasha Pearl Hansen is a comedian, creator, and Guru at GloveBox, an insurance platform solution designed for independent agents to maximize scalability. In addition to working as a Guru at GloveBox, Natasha is a certified comedian and actor with extensive experience in stand-up and directing shows. Natasha used the date of her canceled wedding as an opportunity to produce her first comedy special,” I Was Supposed To Get Married Today…” Natasha joins us to discuss the life of a comedian, the work involved, and her experience in the entertainment industry. She discusses the people who influenced her humor and how she uses it to form relationships with insurance clients. She explains why she started working with GloveBox and the services it offers. Natasha also shares the purpose of her platform, My Break Up Registry, and what prompted her to create it.
"Development is hard. When you're building things you have to make sure the blocks are built properly, so nothing falls apart underneath." - Natasha Pearl Hansen
Today on Spot On Insurance:
- Natasha's career as a comedian and when she joined the insurance industry
- How humor influences people over manipulation
- Transitioning from comedy to working for an insurance company
- What life was like while working as a comedian for a decade
- Hosting a comedy special the day her wedding was canceled
- What prompted her to start My Break Up Registry
- How her business ventures impacted her comedy career
- Natasha's day-to-day routine as comedian and GloveBox Guru
- The pain point GloveBox wants to solve.
Key Takeaways:
- Humor bridges social gaps faster than manipulation.
- Struggle can bring out the most creative part of you.
Andrew Yeoman is the Chief Executive Officer & Co-Founder of Concirrus, an insurance software company based in London that provides a platform that empowers underwriters and brokers with insights and rating factors through AI. The platform works primarily by interpreting behavioral data from predictive models, which can outperform traditional risk assessment and underwriting techniques. Before co-founding Concirrus, Andrew held executive positions in various software companies, including Kudo Insurance. Andrew joins us to discuss how their platform provides more accurate insight into risks and utilizes behavioral data. He explains why behavior is the best indicator of risk, how climate change can affect it, and its various outcomes. He describes what led to the founding of Concirrus and the pain points they wish to address. Andrew also discusses the need for algorithms to help sort through important data and shares what’s next in the pipeline for their company.
"The fascinating thing about behavior is not only is it a better indicator of risk, it's a lead indicator of risk." - Andrew Yeoman
Today on Spot On Insurance:
- Andrew's life as a child in West London, his passion for golf and entrepreneurship
- Why it was bad luck when Andrew wound up in insurance
- How their AI works with fleet behaviors to predict claims
- Why behavior is the best indicator of risk
- Rising natural disasters, climate change, and how it affects behaviors and outcomes
- Being overwhelmed with data and needing algorithms to help sort the important ones
- Andrew's ideal carrier and their pain points.
- What's next for Concirrus?
Key Takeaways:
- 90% of the world's risks are uninsured right now.
- We live in an age where we're simply overwhelmed with data.
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Tony Steuer is a financial preparedness advocate, podcaster, and Paperwork’s Head Financial Wellness Advocate. Paperwork is a holistic financial wellness solution app that helps you organize and take control of your financial life in the easiest way possible. Tony advises the Paperwork team on all things related to financial wellness content and strategy, and identifies and executes partnerships and distribution opportunities. Tony is also the host of The Tony Steuer podcast, where he has conversations with financial literacy advocates.
Tony joins us to discuss what Paperwork can do for your financial wellness. He shares his interests as a child and why he pursued a career in financial services. He explains his definition of financial wellness and how to measure it. He describes the benefits of using a financial app over a financial book and the opportunities financial literacy opens. Tony also discusses why people don’t always get life insurance and shares his best tip on financial wellness.
"Financial wellness goes beyond financial literacy." - Tony Steuer
Today on Spot On Insurance:
- Who Tony is, where he grew up, and what he aspired to be as a child
- Why Tony wanted to major in finance
- What Tony believes is the definition of financial wellness
- What to take into account when determining a person's financial wellness
- How financial literacy lets a person start or change their opinion
- Why a financial app can be more effective than a financial book
- The security Tony's platform offers
- What the Paperwork app can do for customers regarding notifications
- Tony's #1 tip on financial wellness
Key Takeaways:
- We need to make that decision to learn about money and to take action on that.
- Things that fall through the cracks are what matters to people.
Connect with Tony Steuer:
- Tony Steuer official website
- Paperwork
- The Tony Steuer Podcast
- Tony Steuer on LinkedIn
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Hadi Radwan is a serial entrepreneur, venture builder, and insurtech expert. He is the Co-Founder of Asteya, an insurance company that aims to make income insurance accessible to everyone regardless of gender, income, or age. Hadi has over 15 years of experience in managing, creating, and developing growth strategies for start-ups and large organizations. As a venture builder, Hadi specializes in new market entry, multiple discipline leadership roles, growth hacking, and capital raising. Hadi joins us to discuss why people should look into disability insurance more than they do life insurance.He explains statistics regarding work-related injuries and disabilities, and how it is different for men and women. He describes the right mindset when buying an insurance product and what he thinks the industry does backward. Hadi also shares where the name “Asteya” came from and what’s in store for their company in the future. “We're over prepared for death, but not for an accident.” - Hadi Radwan Today on Spot On Insurance:
- Hadi's hobbies and his passion for biohacking
- Growing up in Lebanon and finding his way into insurance
- What Hadi noticed insurance does backwards
- Where the name of their company came from and what it means
- The right mindset to have when buying insurance
- Why people should be more worried about disability than death
- The insurance product people need more than life insurance
- What the stats suggest regarding work-related accidents and disabilities
- The difference between short-term and long-term disability insurance
- Why insurance for women is more expensive
- What's in the pipeline for Asteya?
Key Takeaways:
- Women have a 54% chance of being seriously ill or injured during their working years.
- The reason people don't buy disability insurance is because they don't know it exists.
Connect with Hadi Radwan:
- Asteya
- Asteya on LinkedIn
- Hadi Radwan on LinkedIn
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
Apple Podcasts Rate and Review for SpotOn Rao Tadepalli is the Founder & CEO of DigiTran, an InsurTech company that specializes in digital transformation. They help insurance companies innovate their legacy systems to digital and emerging technologies. Rao has over 30 years of experience working in insurance and has held executive positions since 1992. Rao also has extensive experience in core system transformation, property & casualty insurance, and computer science, among other skills.
Rao joins us to discuss why legacy systems prevent digital transformation and explains how DigiTran helps insurance companies transition into digital systems and platforms. He shares his experience with working in various countries and what he’s learned from all his travels. He describes the insurance industry in India and why it’s still in its infancy. Rao also discusses the qualities an insurance leader needs to succeed in this industry.
"Legacy systems are the biggest obstacle for digital transformation." - Rao Tadepalli
Today on Spot On Insurance:
- Rao's childhood, growing up in India, and his fondness for computer science and engineering
- How Rao found a career in insurance
- Rao's travel experience and his thoughts on the various countries he's lived in
- The new developments we can expect to see in insurance
- What the FinTech and InsurTech industries are like in India
- Why insurance's profitability is measured differently compared to other major industries
- The qualities a leader should possess in insurance
- The problem with legacy systems and how it affects digital transformation
- How DigiTran helps carriers and the services they offer
Key Takeaways:
- COVID-19 accelerated digital transformation.
- You cannot have digital transformation as long as you have ancient backend systems.
- Most people outside the insurance industry are disappointed at how long a sale can take.
Connect with Rao Tadepalli:
- DigiTran
- DigiTran on LinkedIn
- Rao Tadepalli on LinkedIn
- Email: rao@digitran.ai
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Alan Ringvald is the CEO at Relativity6, a company that offers accurate and fast industry classification through automated 6-digit NAICS codes and company checks. They also provide services that let businesses predict customer behavior accurately. Before founding Relativity6, Alan founded 3 other companies and was also part of Google’s partnerships team focused on monetization and implementation. Alan has extensive knowledge of digital marketing, digital strategy, and Google analytics.
Alan joins us to discuss why industry classification is essential and how Relativity6 helps bridge some of the gaps with AI and machine learning. He shares the company’s recent projects and milestones and explains why you should not purchase third-party data, but instead make one from scratch for your business. Alan also discusses the limitation of the NAICS and how blockchain technology can potentially boost their business growth.
"The world today relies on these databases to provide company information." - Alan Ringvald
Today on Spot On Insurance:
- Alan’s passion for healthy foods and working with Tom Brady
- Alan's unique experience during his honeymoon last year
- What Relativity6 is currently up to today
- The gaps Alan's company fills regarding classifying businesses
- Why you shouldn't buy third-party data
- The limitations of the NAICS
- What their program can and cannot solve at the moment
- The number of countries Alan and his team receives data from
- Blockchain and how it will impact the way we do business transactions
Resources Mentioned:
- Ep. 194: Predicting Customer Behavior
- North American Industry Classification System
Key Takeaways:
- Open-sourcing your programs can help expedite your business' data gathering strategies.
- AI will help automate the mundane and repeatable, but humans will still be needed to process complex insurance processes.
Connect with Alan Ringvald:
- Relativity6
- Email: alan@relativity6.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
Brett Ashley McKenzie is the Senior Communications Manager at Foresight Commercial Insurance, the first InsurTech company specializing in commercial coverage with a focus on the middle market. Before signing with Foresight in 2021, Brett worked for John Kerry during his presidential run in 2004, as a contributing blogger to The Huffington Post, and managed Zurich North America’s Marketing, Social Media, and Media Relations. Brett is also the host of the High Tea with Monsters, Rebel Scum, and Vigilantes podcast, where she talks about her favorite TV shows.
Brett joins us to discuss the gender disparity in executive positions across the industry and the shift towards women in C-Suite positions. She describes her role at Foresight, her writing passion, and what it was like being John Kerry’s media booker. She explains how the term “InsurTech” will one day become an industry of its own and the importance of empowering women to step into leadership roles. Brett also shares the mental effects of being in an unhealthy work environment and how to tell if it’s time to resign.
"Tech itself is not a female-dominated space." - Brett Ashley McKenzie
Today on Spot On Insurance:
- Where Brett grew up, her writing passion, and her favorite pizza
- Brett's experience working on John Kerry's campaign
- How Brett transitioned to working in insurance
- What it's like going to an all-girl school growing up
- Brett's role as Senior Communications Manager at Foresight
- Differentiating InsurTech from the rest of the industry
- Empowering women into more leadership roles
- Instilling confidence in women to go for positions where they don't check all the boxes
- Fighting gender discrimination and other forms of minority stereotypes
- When you should consider resigning
- Brett's toy hobby, her collection, and her favorite shows
Key Takeaways:
- Female-founded tech startups get less investments than male-founded startups.
- Women should not expect themselves to act as men.
- Mentorship is important in your career.
Resources Mentioned:
- Ep. 193: Eric Ummel: Insurance Just When You Need It
- Ep. 213: From Legacy Carrier to Insurtech
- Insurance Conversations in Black & White: Mother & Daughter Perspectives On The Industry
Connect with Brett Ashley McKenzie:
- Foresight Commercial Insurance
- Foresight Commercial Insurance on LinkedIn
- Brett Ashley McKenzie on LinkedIn
- High Tea with Monsters, Rebel Scum, and Vigilantes podcast
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
Rudi Steyn is the Chief Technology Officer (CTO) at CoTé Software & Solutions, a tech company that offers management SaaS solutions for all industries. Their main office is in Australia, but they also have offices in the US and Singapore. As CTO, Rudi sets the roadmap for its various services and assists in its Digital Customer Experience strategies. Rudi also endorses the latest service for agencies called AGENCYMATE. AGENCYMATE is a platform that serves as a virtual extension of an agency to provide various marketing and sales solutions.
Rudi joins us to discuss his role as CTO and how AGENCYMATE supports agencies, big or small. He shares what it was like growing up in South Africa and the differences he noticed in lifestyles when he moved to Australia. He explains how he joined the insurance industry and how the pandemic made industries leap into a more digital future. Rudi also describes the changes we need to make regarding management styles and why hackers no longer target computers as much as they target people.
"Management style has to change. We should change our focus from management-based to outcome-based." - Rudi Steyn
Today on Spot On Insurance:
- Growing up in South Africa
- How sports taught Rudi how to work with different kinds of people
- The differences between living in South Africa and Australia
- Why Rudi pursued a career in insurance
- Rudi's everyday responsibilities as a CTO
- What AGILE and Scrum brought to the technology world
- How Service-Oriented Architecture (SOA) helps distribute the computational logic of the system
- What Rudi classifies as a digital experience
- Why hackers are now targeting humans over computers
- Reinforcing a culture of cybersecurity in your organization
- The experience clients can expect when using AGENCYMATE
- What businesses should focus on following a pandemic
- The driving factors behind The Great Resignation
- How the pandemic demanded a change in management styles
Key Takeaways:
- Not having the ability to fail fast, learn, and pivot is hampering a lot of organizations.
- Everything has gotten faster and we're still time-poor as a collective.
Megan North is the Vice President of the AmWINS Group, the country’s largest distributor of specialty insurance products and services. With the current rise of cybercrimes and cybersecurity risks, Megan specializes in analyzing and providing cybersecurity solutions tailored to your organization's needs. She earned her MBA at the University of Mississippi and is a Registered Professional Liability Underwriter.
Megan joins us to share the insurance solutions AmWINS provides for all things cyber. She describes why she pursued a career in insurance and discusses why cybercriminals prefer smaller businesses and how it can affect larger companies. She explains the meaning behind Silent Cyber and how it applies to your policies. Megan also shares how leaders can cultivate a culture of cybersecurity awareness.
“The threats we see on the cyber landscape are continually evolving. Insurance, being risk-transfer, is always one-step behind.” - Megan North
Today on Spot On Insurance:
- The cyber side of insurance
- Why Megan pursued a career in insurance
- Why an insurance career opens a lot of networking opportunities
- The silent cyber challenges brokers face in the insurance industry
- Different types of laws signed due to cybersecurity risks
- What is Silent Cyber in insurance?
- Risks and liabilities of cybersecurity for small and large businesses
- How leaders can enforce a culture of cybersecurity within their organization
- What it takes to market a cybersecurity product
- How to guarantee your coverage is the best for clients
Key Takeaways:
- Cybercriminals often attack low-hanging fruit or small businesses.
- Laws are continuously evolving to meet the demands of cybersecurity and risk.
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Ian Schnoor is the President & Founder of the Financial Modeling Institute. FMI provides products and services to financial modelers, but they’re mostly known for administering three levels of financial modeling certifications. With over 20 years of experience in the financial industry, Ian specializes in financial modeling, valuation, and asset management, among other skills. Ian is also a certified Advanced Financial Modeler, a Chartered Financial Modeler, and a Chartered Financial Analyst.
Ian joins us to discuss what financial modeling is and why it’s critical for expanding a company or an insurance agency. He explains the role of financial modeling in corporate decisions across multiple industries and describes the trends he notices in employee retention. He shares the different skills required to become an expert in financial modeling. Ian also discusses the career opportunities available for those who specialize in financial modeling.
“Almost every critical decision that needs to happen in the world of business should be happening off the back of a financial model.” - Ian Schnoor
Today on Spot On Insurance:
- Ian's professional background and his favorite wine
- Financial modeling amidst the Great Reshuffle
- The trends Ian sees in the training space and volatility in employment
- The definition of financial modeling
- The role of financial modeling in decision making and the insurance industry
- Different soft and technical skills needed to understand financial modeling
- Common pitfalls involved in building financial models
- Why business owners often feel they don't need financial models
- The job opportunities available to those who specialize in financial modeling
- The best way to prove a person's financial modeling skills
- Products and exams they can provide for financial modeling
Key Takeaways:
- A financial model specialist has more than just a few skills as the type of work they do is complex and critical for the growth of a company.
- The best financial model should not be bulky or messy and, more importantly, challenging to understand.
Connect with Ian Schnoor:
- FM Institute
- FM Institute on LinkedIn
- FM Institute on Twitter
- Ian Schnoor on LinkedIn
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
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Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
Apple Podcasts Rate and Review for SpotOn Jonathan Matus is the Founder & CEO of Zendrive, an auto insurance company that integrates data analytics and AI, providing insurance solutions towards a future where driving and phone use are ubiquitous. He holds over 35 patents and contributed to today's Android and the Facebook mobile app. As the leader of an Insurtech company, Jonathan specializes in team building, human-centered design, and machine learning.
Jonathan joins us to share how Zendrive revolutionizes how we look at driver safety through mobile sensor data. He discusses how the idea behind Zendrive came to life and the companies he worked for in the past. He explains the need to be mission-driven as a start-up company, especially when faced with adversity. Jonathan also describes how the future of autonomous transportation will have a strong focus on customized traffic and driver data.
“Driving behavior is going to be driven by sensors: quantifiable, and measurable.” - Jonathan Matus
Today on Spot On Insurance:
- Why the pandemic made Jonathan relocate with his family
- Jonathan's experience with working on the Android operating system
- Realizing Big Tech's business is all about advertising
- The risks associated with smartphone usage
- Where the idea for Zendrive started and where it is today
- Being there for the mission as a start-up company
- Why autonomous vehicles can be fragile
- How Zendrive looks at the future of transportation
- The practical applications of Zendrive as an insurance model
- How AI becomes a game-changer in auto insurance
Key Takeaways:
- At the end of the day, Big Tech is in the business of advertising and the end users are the product.
- There's a lot of hype around connected cars, but connected cars are still nascent.
Connect with Jonathan Matus:
- Zendrive
- Jonathan Matus on LinkedIn
- Jonathan Matus on Twitter
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Natassia Matin is the Founder and CEO of Digital Talent Sherpas, a recruiting firm that helps insurance companies find the right talent for their current and long-term goals. They have a pool of commercial wholesale insurance brokers, account executives, brokerages, and inside brokers. Natassia is also the company’s Talent Sherpa, responsible for streamlining systems focused on talent acquisition.
Natassia joins us to discuss how their company manages to find the right candidate in an industry that’s constantly trying to keep up with the latest in tech and innovation. She shares how she entered the insurance industry and what made her pursue a career in recruitment. She explains the ghosting problem in recruitment and how it worsened in the last decade. Natassia also shares some of the speakers and books that helped elevate her recruiting and networking skills.
"Recruiting is flawed at two junctures: the recruiter and the feedback." - Natassia Matin
Today on Spot On Insurance:
- Where Natassia was born and what life was like in the Middle East
- What fasting can do for your body
- Campaigning for a job position as a woman
- How Natassia began working in insurance
- The problems in recruiting Natassia has observed in her career
- Why recruiters ghost their candidates
- How AI can help you with recruiting suitable candidates
- Natassia's advice to introverted candidates
- What attracted Natassia to Tony Robbins
- What caused the Great Resignation movement
Key Takeaways:
- 75% of individuals in the insurance industry are over the age of 60.
- Power has shifted from companies to consumers; from employer to candidate.
Resources Mentioned:
- Book: Man's Search for Meaning by Viktor Frankl
- Book: Think and Grow Rich: The Landmark Bestseller Now Revised and Updated for the 21st Century
- Book: The Evelyn Wood Seven-Day Speed Reading and Learning Program
- Tony Robbins
Connect with Natassia Matin:
- Digital Talent Sherpas
- Digital Talent Sherpas on LinkedIn
- Natassia Matin on LinkedIn
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Luis Pino is the CEO & Founder at Agentero, a company that seeks to empower independent insurance agents with their intelligent and intuitive insurance ecosystem and tools. Luis founded Agentero with the intent of supercharging agents with technology, instead of having it replace them. Before founding Agentero, Luis was part of CoverWallet, a company that allows businesses to obtain commercial insurance quickly.
Luis joins us to describe Agentero’s purpose and how it can enhance the insurance buying and selling experience. He shares his life growing up in Spain, living across Europe, and how he joined the insurance industry. He discusses his experience as an entrepreneur and shares advice for those who want to start their own business. Luis also explains the importance of understanding data analytics as an agent.
"Technology is here to supercharge agencies, not to replace them." - Luis Pino
Today on Spot On Insurance:
- Living all over Europe and Luis' early years in Spain
- How Luis leaped into the insurance world
- Why you don't choose a career in insurance as much as it chooses you
- The experience that helped Luis become a better entrepreneur
- Agentero’s core value and how it develops team culture
- Steps future entrepreneurs can use to succeed in business
- The motivation behind starting Agentero
- The efficiency improvements agencies can expect from Agentero
- Working through the most difficult challenges as an entrepreneur
- Data analytics and its importance in knowing your market as an agent
Key Takeaways:
- Second-time entrepreneurs have an easier time to succeed.
- It's usually insurance that comes up to you – not the other way around.
Connect with Luis Pino:
- Agentero
- Luis Pino on LinkedIn
- Email: support@agenthero.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Judith Pila is an insurance expert, insurance blog writer, and the founder of Insure Africa. Insure Africa is a Nigerian company driving insurance inclusion through literacy, education and awareness across Africa. As the founder, Judith is in charge of leading the company’s strategic plans and their insurtech integration and innovation. Judith is also one of the contributing experts for Insuranceopedia, one of the largest resources for insurance education.
Judith joins us to discuss the goal of Insure Africa and why she chose a career in insurance. She shares the typical life of a Nigerian child and why being computer literate was a rare attribute. She describes what motivated her to work in insurance and what she learned from being a broker in Canada. She explains why insurance is still a small industry in Africa and what professionals can do to scale the industry. Judith also discusses the importance of quality and empathetic customer service in insurance, where claims can be due to accidents or emergencies.
“It's never been about position but about growth. You have to keep learning. You have to keep growing.” - Judith Pila
Today on Spot On Insurance:
- Growing up in a small town in Nigeria and Judith's academic career
- How important learning to use a computer was in Nigeria
- Why Judith wanted to pursue a career in insurance
- Judith's inspiration for getting ahead in life
- Why she was referred to as Speedy Gonzales in her first job
- How the insurance industry in Canada developed since she became a professional
- The motivation behind creating Insure Africa
- Why insurance is still a tiny market in the African continent
- What Judith believes will improve insurance education in Africa
- Why customer service must be a priority in insurance
- Marketing insurance as a solution without directly saying it
- What's in store for Insure Africa in 2022?
- How Judith got involved in writing for Insuranceopedia
Key Takeaways:
- When dealing with insurance customers, you have to be empathetic.
- As a broker in Canada, you need to be licensed.
Resources Mentioned:
- InsurTech Business Series
- Insuranceopedia
- Ep. 197: Adedamola “Damola” Oloko: Abundant Opportunities in the African Insurance Market
Connect with Judith Pila:
- Insure Africa
- Insure Africa on Instagram
- Insure Africa on Facebook
- Insure Africa on LinkedIn
- Judith Pila on LinkedIn
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Jane Wang is the CEO of Optimity, an insurtech company that aims to enrich its clients’ health and wealth knowledge through evidence-based behavioral science and gamification. The Optimity app uses micro-learning quizzes that make learning a fun and engaging experience. With over 17 years of professional experience, Jane is an expert in research and data analysis, particularly in the healthcare and pharmaceuticals industry.
Jane joins us to discuss what the Optimity app brings to consumers, how they made it exciting to use, and how it promotes the importance of having health insurance. She shares how her mother’s struggle against cancer affected her perspective on health insurance and personal wealth. She discusses the goal of Optimity and how they use gamification to boost client engagement. Jane also describes how their platform teaches users about financial health and what users can expect from Optimity in 2022.
"The richness of data is exactly what carriers need to modernize understanding of their customers and community members." - Jane Wang
Today on Spot On Insurance:
- Jane's childhood interests and how they shaped her current career
- Why Jane wanted a career in the pharmaceutical industry
- What inspired Jane to pursue a career in insurance
- How Jane discovered the true value and importance of insurance
- The role of a mortality and morbidity risk specialist
- Optimity's mission and the services they offer
- What users can expect from their platform
- The financial health component of using Optimity
- Engaging customers through gamification
- What customers can expect from Optimity in 2022
Key Takeaways:
- Health insurance should be the first insurance everyone should buy.
- Gamification boosts customer engagement and retainment.
Connect with Jane Wang:
- Optimity
- Optimity for iOS
- Optimity for Android
- Jane Wang on LinkedIn
- Email: engage@myoptimity.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Timothy Partasevitch is the Chief Growth Officer at SMART IT, a custom software and web development company in Minsk, Belarus. The company provides highly customized services tailored for every client, including application development and product engineering services. Timothy is also an expert in digital marketing, providing strategies and consulting for clients in various industries, including InsurTech.
Timothy joins us to discuss what SMART IT is, how it was founded, and their services. He shares what growing up in Belarus was like and how studying and graduating in the UK influenced his early career trajectory. He explains what Project Rescue is about and how it can make an otherwise bulky and messy internal system more efficient. Timothy also describes his thoughts on the future of blockchain and the technology he thinks will change how we conduct business forever.
"Innovation's not about technology per se, but the delivery system." - Timothy Partasevitch
Today on Spot On Insurance:
- Where Timothy grew up and what life was like in Belarus
- The experience of moving from Belarus to the UK
- Tim's childhood dreams and why he chose not to pursue them
- Graduating during BREXIT and being an engineer in Belarus
- How being fluent in English helped him find a career as a copywriter in Belarus
- What SMART IT provides to clients
- The marketing strategies and services he offers to clients in InsurTech
- How data is used by SMART IT and the different projects they work on
- What Project Rescue is and the type of clients that would need it
- Why old banks have "Frankenstein monsters" of a system
- How SMART IT was founded and formed the team of experts it currently has
- Game-changing opportunities available for the insurance industry
- How blockchain will affect the way we conduct business in the future
Key Takeaways:
- The technology that empowers the user will be at the forefront of future industry innovations.
- Blockchain technology is still at its infancy and will likely play a major role in the next big thing, but it won’t be for cryptocurrency.
Connect with Timothy Partasevich:
- SMART IT
- Timothy Partasevitch on LinkedIn
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Aaron Mikulsky is the CEO of Love 2 Lead Consulting Services, a business that supports industry leaders in being more effective in their roles while having a more fulfilling career. He is the author of the book L.O.V.E. 2 Lead: A Journey of Self-Reflection, Significance, and Servant Leadership, where he writes about servant leadership and why it’s the only authentic leadership. Aaron also serves as one of the Board of Directors of the HOPE Matters Foundation, a charitable organization based in Green Bay, Wisconsin.
Aaron joins us to discuss what a true leader is, what they represent, and how to be more effective at leading. He explains why servant leadership is true leadership and the difference between character and reputation. He explains the three C’s he keeps at the forefront when building a business and what working in different roles has taught him about leadership. He describes the inspiration behind his new book and the lessons readers can expect to learn. Aaron also discusses the big problem in Corporate America today regarding coaches and leadership.
"If you're trying to build your company, you want to focus on the culture." - Aaron Mikulsky
Today on Spot On Insurance:
- Aaron's favorite sports in high school
- What Aaron’s teachers did that inspired him to do well in school
- How Aaron entered the insurance industry
- What it's like leading a publicly-traded company
- The three C's Aaron always thinks about when building a business
- Aaron's experience working in different roles that taught him leadership skills
- Aaron's advice for young professionals on getting exposure
- The difference between character and reputation
- How diversity and inclusion factor into leadership culture
- The colossal failure in Corporate America today
Key Takeaways:
- Leaders will be scrutinized whether they’re running a startup or a Fortune 500 company.
- Building culture is integral to achieving a harmonious working atmosphere.
- Leaders should ask to be coached as much as possible if they want to move higher.
Connect with Aaron Mikulsky:
- Love 2 Lead Consulting Services
- Aaron Mikulsky on LinkedIn
- Email: apmikulsky@love2lead.biz
- Book: L.O.V.E. 2 Lead: A Journey of Self-Reflection, Significance, and Servant Leadership
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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SOI252 - Client Retention Starts with Claims Experience
John Bachmann is the Vice President of Client Relations at Norwood Insurance Agency, a full-service independent insurance agency serving individuals, families, and businesses since 1868. John’s role as Vice President is to ensure clients and their respective adjusters are adequately protected and served. He is also the author of the recently published book Successful Adjuster's Playbook: The Secret Skills for Providing the Best Claims Experience, where he writes about everything a new and veteran adjuster should know about their role in the industry.
John joins us to discuss the best practices in client retention - especially from the claims and adjusting perspective. He shares his experience as a sports coach and how it affected his career in insurance and the one claim that made him realize he loved his job. He explains why he believes soft skills should be called hard skills and describes the soft skills that bring the best out of any claims professional. John also discusses how the pandemic shifted the industry’s perspective, especially from the claims point of view.
"The only thing we're selling as insurance professionals is: if something really bad happens, we promise to be there." - John Bachmann
Today on Spot On Insurance:
- John's favorite hobbies and sports teams
- How John started his insurance career and his experience in claims processing
- How his coaching experience affected his career in insurance
- The legacy claim that made him passionate about insurance
- Why soft skills are some of the most complex skills to learn
- Changing the perception that the claims department is a claims center
- The critical skills that differentiate a claims professional
- Mastering the Big 3 skills in insurance
- The impact of COVID-19 on insurance claims
Key Takeaways:
- Having coaching experience can enable you to be competitive in any industry.
- Soft skills are some of the most difficult skills to learn.
Resources Mentioned:
- Book: Whale Done! By Ken Blanchard
Connect with John Bachmann:
- Norwood Insurance
- Book: Successful Adjuster's Playbook: The Secret Skills for Providing the Best Claims Experience (IA Playbook)
- IA Path
- John Bachmann on LinkedIn
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Rahim Rajpar is the CMO & Co-Founder of Plum Life, a company that provides insurance advisors with an innovative platform fitted with tools and other resources to simplify the process of selling insurance. The platform seamlessly integrates everything involved in a transaction, from quoting to application to issue. Plum Life was born in the middle of the COVID-19 pandemic, capitalizing on the accelerated surge of digital services and online meetings. Rahim is also a thought-leader and speaks on customer engagement and business digital enablement.
Rahim joins us to discuss how Plum Life enhances the customer-advisor experience. We discuss some of his career milestones and the dream that led to the founding of Plum Life. He explains how COVID-19 changed the insurance landscape and what studies currently show on working in a purely online environment. He describes the emotional rollercoaster a customer experiences when looking for and purchasing insurance. Rahim also explains how the Plum Life platform helps insurance advisors with the follow-up process.
"We need advisors spending less time processing business and more time finding new clients for it." - Rahim Rajpar
Today on Spot On Insurance:
- Rahim's childhood in Kenya and when they migrated to Canada
- Pursuing a career in financial services during the tech boom
- Some of the early roles in Rahim's insurance career
- How Plum Life started and what they wanted to represent
- What Plum Life is doing to arm advisors with digital resources
- Why Rajim considers advisors as customers
- Tracking the emotional mindset of a customer as they go through the buying journey
- How their platform helps both advisors and customers
- The different tools and resources available on the Plum Life platform - especially for the follow-up process
- The hard work they put into building their platform
Key Takeaways:
- COVID-19 has accelerated the digital leap in insurance
- Technology is all about making processes efficient
- Life insurance, overall, is an amazing business - but it’s going to be a dying business if we don’t adapt.
- Technology can augment the relationship between an advisor and their client.
Connect with Rahim Rajpar:
- Plum Life
- Plum Life on LinkedIn
- Rahim Rajpar on LinkedIn
- Email: rahimrajpar@helloplum.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Henry Daas is a Personal Finance Coach, Realtor, and Serial Entrepreneur. He is the author of the book FQ: Financial Intelligence, where he writes about every aspect of managing your personal finances and shares over 40 years of investing and spending wisdom. As a finance coach, Henry teaches clients to have more confidence in investing, the best practices for wealth management, and how to avoid the common mistakes people make when managing their finances.
Henry joins us today to discuss how business leaders should prepare for their retirement, especially after selling their business. He describes his experience with working in IT, how he immersed himself in Wall Street, and what made him settle for a career in personal finance coaching. He explains some of the best practices regarding risk management, long-term investments, and the five reasons many businesses fail. Henry also shares what readers can expect from his book and why he believes the Fear Of Missing Out is the biggest money trap of all.
"If you're in the insurance business, your business is to manage risk." - Henry Daas
Today on Spot On Insurance:
- Growing up in the state of New York and comparing Brooklyn and Manhattan
- How Henry decided what program to pursue in college
- Having the opportunity to work on systems for Wall Street
- Transitioning from IT and programming to the financial industry
- The piece of advice Henry would give to young professionals experiencing an unstable economy
- Henry's advice regarding risks and the stock market
- The common mistakes Henry sees entrepreneurs make
- Managing risks between being an entrepreneur and staying in corporate
- What Henry believes are the five reasons businesses fail
- Why Henry is a fan of buying "fallen" companies
- What inspired Henry to start his consulting business
- Henry's thoughts on cryptomarkets and why he won't trade them
- Real estate investments you should make today
- Why business leaders should learn to obsolete themselves
- Doing your due diligence on your business and your life after you exit
- Making sure you have a legacy left after you sell your business
- The story behind Henry's latest book and what readers can expect
- What Henry believes is the biggest money trap and the "Greater Fool" theory
Key Takeaways:
- Your businesses will run better if you start best practices at a very early age
- It’s wise to take your time and learn how to run a business before you start one.
- If you have to convince people they need your product - you're done.
Connect with Henry Daas:
- Henry Daas official website
- Henry Daas on LinkedIn
- Book: FQ: Financial Intelligence
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Michael Mensch is the President of Agency Brokerage Consultants, an experienced consulting firm that provides service to those looking to acquire or sell insurance agencies across the United States. Their services include agency market valuations, M&A consulting, and agency sale brokerage. Michael has aided in over 200 M&A transactions and over 1,200 valuations of insurance agencies and brokerages across the United States. He is an active member of the IBBA and M&A Source, a Certified Business Intermediary, and a Certified Merger & Acquisition Master Intermediary.
Brenda Sali is the Senior M&A Advisor at Agency Brokerage Consultants. She has worked full-time with the company since 2018. Before joining Agency Brokerage, Brenda owned and operated the vacation rental property management company, BLSali Enterprises, Inc. and has served in executive leadership roles at a variety of companies. Brenda holds a Bachelor’s degree in Finance and Marketing from the University of Regina and holds a certificate for Business Intermediary from Central Florida Business Brokers.
Michael and Brenda join us today to discuss how hiring a Mergers & Acquisitions advisor can facilitate a smoother transaction when selling your company or entertaining buyers. They share the pros and cons of doing it independently versus hiring an advisor. They explain the processes involved when you put your company on the market and what happens when you receive multiple offers. They also discuss seller confidentiality, how to properly let the staff know the company will be changing owners, and the emotional side of each transaction.
"Confidentiality is imperative when someone is selling their business." - Brenda Sali
Today on Spot On Insurance:
- What drew Michael to the mergers and acquisitions sector in insurance
- Brenda's experience in Canada and why she wanted to be a pharmacist
- The pros and cons of selling a business on your own versus working with a Mergers & Acquisitions expert
- The purpose of the pre-due diligence process in a transaction
- Why Michael's team conducts due diligence of sellers
- The importance of the seller to list the names of potential buyers
- Maintaining seller confidentiality until it's time to sell
- How to tell the employees the company is being sold without ushering panic
- What transactions were like pre-COVID, during COVID, and post-COVID
- Why Brenda is adamant about controlling everything that goes on in a transaction
- Deal fatigue, buyer frustrations, and the pitfalls of keeping the process too long
- Managing the emotional part of selling a company or choosing a buyer
- Why you don't want to negotiate with various buyers throughout the process
Key Takeaways:
- It's better to put your company on the market before you sell it.
- Hiring an M&A expert can fast track the selling of your company while taking the stress away from you.
Resources Mentioned:
- Episode 50: 6 Steps to Selling Your Agency with Michael Mensch
Connect with Michael Mensch:
- Agency Brokerage Consultants
- Michael Mensch on LinkedIn
- Email: mmensch@agencybrokerage.com
- Phone: (321) 255 1309
Connect with Brenda Sali:
- Brenda Sali on LinkedIn
- Email: bsali@agencybrokerage.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Matt Essick is the Chief Marketing Officer at Ensight, a tech company that offers SaaS-based sales acceleration solutions that allow the selling of annuities and insurance to be more profitable, more straightforward, and visually appealing. As CMO, Matt’s responsibilities include overseeing its planning, development, and execution of strategies that drive value towards their customers and business partners. Matt also specializes in working in complex sectors such as digital health, financial services, and BioTech.
Matt joins us to explain what Ensight is, its services, and what sets them apart from the competition. He shares what it was like being in the middle of the 2008 crash and the lessons he learned from the experience. He discusses what inspired him to join the insurance industry and what made him continue his career in insurance. He discusses how industries can further improve their marketing to attract the average consumer and youth into becoming interested in and pursuing a career in insurance. Matt also explains some of Ensight’s products, what they do, and how they can boost sales.
"As society changes, insurance changes, and that's what's so refreshing." - Matt Essick
Today on Spot On Insurance:
- Seeing the tech space crash in 2008 and Matt's mindset while experiencing it
- What Matt learned after the tech industry recovered
- How Matt entered the insurance industry
- Why insurance is essentially a risk sector
- Taking advantage of digitization to make insurance more youth-friendly
- The products Matt offers to clients and what they do
- What Matt calls the ‘Millennial Financial Services Model’
- The most mind-blowing technology Matt has seen in recent years
Key Takeaways:
- Being digital and on the cloud will become the new normal in any industry.
- Millennials and Gen-Xers now make up most of the workforce.
- Insurance needs to appeal to the youth more than it does today.
Connect with Matt Essick:
- Ensight
- Matt Essick on LinkedIn
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Brad Ruben is the President of Archway Computer, an IT service provider that explicitly markets to insurance agencies. They offer services that streamline and automate your agency’s everyday tasks and provide solutions against cybersecurity threats. Brad has over 30 years of experience in insurance computer technology and has developed a new approach to preventive maintenance called Managed Services.
Brad joins us today to discuss how his passion for computer programming began and the role of IT in various mergers & acquisitions transactions. He describes the common pitfalls of agencies regarding cybersecurity and why he views passwords as an archaic means of protection. He explains what Managed Services is and how it’s different from a simple preventive maintenance program. Brad also discusses the services they offer and what their free IT assessment displays for the clients.
"Managed Services is about preventing problems from happening before they happen." - Brad Ruben
Today on Spot On Insurance:
- Brad's early days and why he's lucky his best friend's father wasn't a doctor
- Brad's passion for computers and programming and how it started
- Brad's role in mergers & acquisitions and some of its challenges
- The services Brad renders to clients
- Defining the terms ‘Patch Tuesday’ and ‘Exploit Wednesday’
- Managed services and how they benefit insurance agencies
- The common cyber vulnerabilities of agencies
- Why Brad looks forward to the day we no longer use passwords
- The advantage of storing your programs and data in the cloud
- Can using Archway services increase computer costs?
- What Archway Computer’s IT assessment service shows their clients
Key Takeaways:
- Cybercrime is a huge issue, six times greater than all the drug cartels in the world.
- One of the biggest attack vectors today is Office 365.
Connect with Brad Ruben:
- Archway Computer
- Email: brad@myarchway.com
- Phone: (805) 469-4510
- Brad Ruben on LinkedIn
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Deborah “Deb” Smallwood is the Founder and Senior Partner at Strategy Meets Action (SMA), a ReSourcePro company. SMA is a strategic advisory business that provides consultation services, market research, and solutions to help clients make informed decisions about their companies. She is recognized as an industry thought leader and advisor to insurers on digital transformation strategies. Before founding SMA, Deb was the Chief Transformation Officer at Insurance Company of the West.
Deb joins us to discuss how the pandemic exposed every industry's digital weaknesses and the investments companies should make for 2022. She describes how the Great Resignation affects various industries and how we can improve the way insurance jobs are marketed to young people. She explains her role as Senior Partner at ReSourcePro and her exit strategy before they sold SMA. Deb also shares advice to professionals who are doubting their capabilities as talents in the industry.
"If you have clarity about where you're going and what's important to your customers and operations, you put a new lens to prioritize." - Deb Smallwood
Today on Spot On Insurance:
- What it was like growing up in New Hampshire
- The leadership qualities Deb cultivated in school
- Being a female leader in a male-dominated industry
- The growing opportunities in insurance
- What made Deb leave corporate and pursue entrepreneurship
- How the industry changed and stayed the same since she became an entrepreneur
- Texting and how it innovated the way claims are made
- What Deb observed with various businesses when the pandemic began last March
- How the industry is dealing with the Great Resignation
- Making the insurance industry an attractive employment destination to students
- Crucial 2022 investments strategies insurance companies should take now
- Deb's role as Senior Partner at ReSourcePro
- Having an exit strategy as an entrepreneur
- What the average SMA client looks like and the conversations Deb has with them
- Deb's advice to professionals in insurance
Key Takeaways:
- Everyone, regardless of their role, has to understand some level of technology.
- The pandemic exposed how non-digital we really were.
- Texting is transforming customer relationships and claims with claims adjusters.
Connect with Deb Smallwood:
- Strategy Meets Action
- Strategy Meets Action on LinkedIn
- Deb Smallwood on LinkedIn
- Email: dsmallwood@strategymeetsaction
- Phone: (603) 770-9090
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Rob Stansbury is the Director of Sales at KPA, a company that provides solutions that help identify, fix, and reduce workplace safety and compliance issues. His responsibilities as Director include helping insurance brokers grow and retain their insured base by addressing workplace risks, lowering number of incidents, and reducing costs. His extensive experience allowed Rob to specialize in regulatory compliance across many industries.
Rob joins us to discuss workplace safety, the new technologies available, and the cost of acquiring a new client. He discusses his childhood, the education he earned, and why he pursued a career in insurance. He explains the importance of communicating workplace safety and the key takeaways many businesses have learned from the COVID-19 pandemic. He describes why smaller agencies should differentiate rather than keep up with more prominent companies. Rob also shares how KPA started, its humble beginnings, and the services they currently offer.
"Everyone needs to grow - we get it - but retention is paramount." - Rob Stansbury
Today on Spot On Insurance:
- Growing up near Philadelphia, moving to New York, and how Rob’s career initially began
- Why Rob joined the insurance industry
- The business lessons we've learned from COVID-19
- How the employment landscape has changed in the last few years
- How insurance companies can better communicate the importance of workplace safety
- New safety technologies Rob has seen being deployed in the field
- The average cost to acquire a new client in the insurance industry
- Technology currently available and why they're not always utilized
- How smaller agencies can differentiate themselves from the bigger competition
- How KPA began, its history, and the services it offers today
Key Takeaways:
- It's 9-10 times more expensive for a broker to acquire a new client than it is to retain.
- The landscape has undeniably changed both at the employer level and the broker & carrier level.
Connect with Rob Stansbury:
- KPA
- Rob Stansbury on LinkedIn
- Email:
- Phone:
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Jim Schubert is the CEO of Southern States Insurance, an independent insurance agency serving those in the Georgia and Florida region. He is the creator of Agents Growth Academy and host of the Agents Growth Academy podcast. The Agents Growth Academy is an online resource designed to help agents and agency owners take their growth to the next level. Jim is also an avid photographer specializing in landscape photography. He runs Schubert Photography, where he provides tools, articles, and videos on taking and editing photos, and which gear to buy.
Jim joins us to discuss his entrepreneurial spirit and why he started Agents Growth Academy. He shares his experience as a teacher and what led him to join the insurance industry. He explains the complexities behind acquisitions and culture, the five critical components of every organization, and the significance of upholding your company’s core values at all times. Jim also discusses the Entrepreneurial Operating System, what it’s about, and how he implements it in his agency.
"When you make acquisitions, you’re bringing on different cultures." - Jim Schubert
Today on Spot On Insurance:
- Where Jim grew up and why he wanted to be a teacher
- Jim's first days as a professional teacher and why he left the industry
- Why Jim chose to pursue a career in insurance
- How his father influenced Jim's career decisions
- Jim's initial responsibilities in his father's agency
- Why acquisitions can be tricky when it comes to work culture
- Jim's thoughts on the book Traction by Gino Wickman
- The five key components of every single organization
- What Jim believes is the problem with organizational charts
- What the Entrepreneurial Operating System is about
- How you can uphold accountability in your agency
- Hiring, retaining, and firing people based on core values
- What establishing core values has done for Jim's agency
- The changes Jim enacted since he led the company
- What agents and agency owners can expect to receive from Jim's AGA program
Key Takeaways:
- You cannot grow to a level you want to grow with just some mediocre organization put in place.
- Defining core values can help you make more informed decisions more often.
- Everyone should be focused on positively reinforcing one another.
Resources Mentioned:
- Traction: Get a Grip on Your Business by Gino Wickman
- Radical Candor
- Billy Potter
- Entrepreneurial Operating System
Connect with Jim Schubert:
- Southern States Insurance
- Schubert Photography
- Agents Growth Academy
- Agents Growth Academy Podcast
- Jim Schubert on LinkedIn
- Email: jimschubert@southernstatesinsurance.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Tim Metzner is the Co-Founder and Chief Strategy Officer of Coterie, a company that promises to help insurance agents quote and issue policies in minutes. They have a tech-based approach to business insurance that utilizes data-driven automation which helps provide accurate and affordable coverage without the hassle. Tim has over 20 years of experience working with various startups, wearing the shoes of a director, vice president, as well as a startup investor.
Tim joins us to discuss how entrepreneurship can be a force for good and why he believes we will coexist with technology instead of technology replacing humanity. He explains the problem in small commercial insurance and how Coterie solves this issue. He highlights ways an agent might use the platform and the type of data it can automate. Tim also shares the importance of building a strong team culture and the value of listening to your front office teams to improve your business.
"Technology can enable us to be more efficient, more effective, and have more time in other areas of our lives." - Tim Metzner
Today on Spot On Insurance:
- Why Tim didn't like working in the corporate world
- How entrepreneurship can be a force for good
- Tim's views on co-existing with technology
- The problems Tim believes are an issue in the commercial insurance space
- Why we sold ILSA to ResourcePro
- Why small commercial insurance can be a complex industry
- Tim's sources of data and how an agent can use them
- The culture Tim created at Differential and Coterie
- Listening to your team members to improve your business systems
Key Takeaways:
- You can make your own path in this technological world.
- Listening to your frontline is vital to a business.
Connect with Tim Metzner:
- Coterie Insurance
- Tim Metzner on LinkedIn
- Tim Meztner on Twitter
- Email: tim@coterieinsurance.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Bill Conners is the CEO of ForMotiv, a company that provides tools capable of delivering real-time user intent scoring by analyzing a customer’s digital behavior when they engage with online applications and forms. As CEO, Bill specializes in sales, market research, marketing strategy, and sales processes. Woody Klemmer is ForMotiv's Head of Growth and is responsible for being on top of the company’s growth strategies.
Bill and Woody join us to share how ForMotiv can give companies an edge with data gathered from a user’s ‘digital body language.’ They discuss how most communication is non-verbal and how their tool works in understanding a user's motive and intent. They explain the need for understanding digital human behavior in today’s faceless digital interactions. They also describe the different approaches they take when working with foreign countries and their regulatory requirements.
"90% of the human language is body language." - Bill Conners
Today on Spot On Insurance:
- Woody's entrepreneurial spirit and how he would describe Bill's sports talent
- Why Bill started a career in insurance
- The body language they analyze with real-time machine learning
- Reading a person's ‘digital body language’ when applying for insurance
- How critical is it to capture the customer intent in today's digital industry?
- Regulatory requirements in the US compared to other countries they work with globally
Key Takeaways:
- People respect what you inspect.
- Only 2% of life insurance policies are online. There’s a long way to go as far as direct-to consumer and digital distribution goes.
Connect with Bill Conners:
- ForMotiv
- Bill Conners on LinkedIn
- Email: bill@formotiv.com
Connect with Woody Klemmer:
- Woody Klemmer on LinkedIn
- Email: woody@formotiv.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Sanjeev Kumar Chaudhry is the Founder & CEO of Gigaforce, a company that provides a SaaS-based platform focused on expediting subrogation, salvage processing, and recovery for insurance. Sanjeev has over 30 years of entrepreneurial and advising/mentoring experience in the tech industry. Kevin May is the company’s Chief Strategy Officer, responsible for providing innovative solutions to existing processes. Prior to joining the Gigaforce leadership team, Kevin served as the VP of Product Innovation - Subrogation at Verisk Claims, the President of Amali Solutions Group, and the CEO of Recclaim Software Solutions and Acclaim Resource Partners respectively.
Sanjeev and Kevin join us to discuss what a distributed ledger platform is (DLT) and how blockchain technology can revitalize the way the industry transacts with clients. Sanjeev shares what it was like to grow up in India, the time he moved to the US, and how he became a serial entrepreneur. Kevin describes his extensive experience in subrogation and what made him focus on such a niche industry. They explain how much automation a DLT can provide a business and what happens when DLT is applied to a company that already runs a complex AI-platform. They also discuss how Gigaforce helps its clients and what we can expect from them in the future.
"Distributed Ledger Technology is going to be what the internet is to us today." - Kevin May
Today on Spot On Insurance:
- Where we met Kevin and how long it's been since we last saw each other
- Who Sanjeev is, his life in India, and how his career in the US began
- How ‘niche’ subrogation is in the insurance industry
- Kevin's longtime experience in subrogation and why he never left this type of work
- What Sanjeev thinks of blockchain
- What a distributed ledger is and how cryptocurrency plays into it
- Why we should understand what subrogation means
- Kevin's thoughts on how blockchain changes the way we communicate
- How DLT can improve the efficiency of a business with an AI system
- How safe DLT is when it comes to data security
- What companies need to do to determine if DLT is worth the investment
- What Gigaforce does and how they significantly impact their clients' businesses
- What the future looks like for Gigaforce
Key Takeaways:
- Distributed Ledger platforms can automate 70% of a subrogation claim.
Connect with Sanjeev Kumar Chaudhry:
- Sanjeev Kumar on LinkedIn
- Phone: (408) 314-2210
- Email: info@gigaforce.io
Connect with Kevin May:
- Gigaforce
- Kevin May on LinkedIn
- Email: kevin.may@gigaforce.io
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Stephen Bennett is the Co-Founder of The Demex Group, a company that has built an ecosystem that integrates cash flow modeling and weather data to protect businesses from long-term risks brought about by climate change. Stephen has over 25 years of experience in the private and public sectors, working with companies such as The Weather Channel and UC San Diego/Scripps. He describes himself as a meteorologist who applies his knowledge to optimize business practices.
Stephen joins us to discuss how climate change is a risk for various businesses and how The DEMEX Group can help protect these businesses. He shares how his passion for meteorology developed and highlights the multiple organizations and companies he’s worked with over his 25 year career. He describes the effects of recent climate-change disruptions and the hardest rainfall he has ever seen. Stephen also explains how the insurance company is a critical part of building financial climate resilience.
"The business community as a whole is coming to understand that climate change is going to affect businesses in some way, shape, or form." - Stephen Bennett
Today on Spot On Insurance:
- Where Stephen's passion for weather observation started
- How weather information is applied in business decision making
- Discussing previous storms, the disruptions they caused, and how we can prepare for them in the future
- The hardest rain Stephen's ever seen
- What EarthRisk is and the technology it used to analyze weather-driven trading opportunities
- Why the insurance sector became a massive part of building financial climate resilience
- What DEMEX is and their goals in educating about climate change
- The uses of DEMEX for the brokerage community
- What Stephen sees as effective investment strategies in the future based on climate change
Key Takeaways:
- Climate change is changing the way businesses look at long-term investments.
Resources Mentioned:
- The Inc. Tank: Weather Forecasting to Offset Financial Risk: Steve Bennett
- Balance of Power: UN's Stark Climate Warning (Radio)
- Impact of climate change and extreme weather events on global economy
- Climate Change Is Happening: Breaking Down the New UN Report
Connect with Stephen Bennett:
- The DEMEX Group
- Stephen Bennett on LinkedIn
- Email: reception@TheDemexGroup.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Colby Tunick is the CEO and Founder of ReFocus AI, an enterprise sales platform for insurance professionals powered by artificial intelligence. ReFocus AI provides solutions that boost sales by using machine learning to analyze and understand data better than any human. Before founding ReFocus AI, Colby was also the Training Coordinator at the California Earthquake Authority and a Consultant and Grant Writer at DME Business Solutions.
Colby joins us to discuss what machine learning is all about and how ReFocus AI can help businesses better understand the data they collect. He shares his passion for learning languages and how he became interested in tech. He explains why the industry cannot utilize the data they have and how machine learning can streamline that process. Colby also describes why data isn’t a liability, explains why machine learning may not be for every insurance company, and shares tips in reducing the risks of cybersecurity breaches.
"We’re not at a Renaissance where companies are wizening up to the fact that the data they are holding is an asset; that it’s valuable." - Colby Tunick
Today on Spot On Insurance:
- Where Colby's passion for tech and software stemmed from
- Colby's love of different languages
- How Colby joined the insurance industry and the opportunities that paved his way
- Why the insurance industry is underutilizing consumer data
- Why Colby initially wanted to become a politician in his youth
- How Colby uses sushi as an analogy for sales
- The three key sales questions ReFocus AI answers
- Machine learning and what the future of sales will look like
- Educating owners and executives that data isn't a liability
- Does artificial intelligence always provide value?
- Assessing the qualities of a machine learning engineer
- What we should be cautious about regarding AI
- How businesses can prevent ransomware from happening
- The security benefits of building a culture where it's alright to make mistakes
- Colby's advice to those who are struggling to find success in the industry
Key Takeaways:
- 80% of data within an agency management system is up to date.
- Ultimately, machine learning is not a silver bullet.
Resources Mentioned:
- Ep. 229: Magnify The Fine Print in Your Cyber Policy
Connect with Colby Tunick:
- ReFocus AI
- Colby Tunick on LinkedIn
- Phone: (619) 396-7800
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Ursula Merten is the Director of Insurance Strategy & Information at omni:us, a company that utilizes AI for cognitive claims management. As Director, she helps property and casualty insurance companies better understand the data they receive from clients and find ways to automate workflows in their organization. Ursula is also a self-described insurance nerd that’s interested in how technology is continuously disrupting the industry while empowering women in business.
Ursula joins us today to discuss how AI can revolutionize the average insurance and claims process and why data is at the center of this disruption. She shares why she chose to pursue a career in insurance, the challenges of being a woman in a male-dominated industry, and how she found success. She describes the best way to get data from consumers and how the pandemic made data collection more accessible. Ursula also shares what she believes are the downsides of AI and what she wants newcomers to know before venturing into insurance.
"AI can only learn from what the human tells it." - Ursula Merten
Today on Spot On Insurance:
- Ursula's professional achievements and career experience over twenty years
- What Ursula dreamed of doing when she was young and when she joined insurance
- Ursula's experience in handling claims related to asbestos exposure
- What it was like being a young woman in a male-dominated industry
- Why Ursula was initially uncomfortable with negotiating salary and raises
- How men and women look at job qualifications differently
- Why being "annoying" with questions is the new way businesses base their data
- How the pandemic enacted changes that favored data collection
- The pros and cons of having rapid technological progress
- Ursula's advice to carriers and agencies on how they should start with data
- The pitfalls of AI and how they affected various industries
- Omni:us and the solutions they provide to the insurance industry
- Ursula's advice for newcomers in the industry
- How to be confident without being seen as arrogant
Key Takeaways:
- Don't try to sell yourself without the claims to back it up.
- Previously, discarding legacy systems for newer systems was a scary investment in both time and money.
- Always ask your leaders how to move up in your career.
Ursula Merten ’s Best Babyback Ribs Recipe:
1 Slab of babyback ribs (make sure they are babyback ribs)
Peel the membrain off the bone side of the rack
Dry off the slab with a papertowel on both sides
Coat the slab with olive oil both sides
Put garlic powder on the bone side
Flip over the slab and apply pork rub seasoning on meat side
Heat the oven to 350 degrees
Place the ribs on a metal flat pan and cook for 1.5 hours in the oven
Pull the slab out of the oven and coat the top meat side of the slab with your favorite BBQ sauce
Lay the slab on the grill (no pan) and smoke on a charcoal grill for ½ hour
Pull off the grill and place back on the pan and let sit for 10 minutes
Another weird thing: we’re part Chinese (my mom-Chinese/German) so we eat our ribs with rice and we actually put extra sauce in a metal pan in the oven with the ribs and mix some hot sauce in the BBQ sauce and let it caramelize in the oven because we take the extra sauce and put it on the rice. So yummy!!!!
Enjoy
Connect with Ursula:
- Omni:us
- Ursula Merten on LinkedIn
- Ursula Merten on Twitter
- Email: ursula@omnius.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Lindsay Corran is the Creative Director at GeoVera, an insurance company that markets to catastrophe-exposed properties and areas focusing on earthquakes. As Creative Director, Lindsay is tasked to align creative vision with their company’s business strategies, especially for property and casualty insurance brands. Lindsay’s been with GeoVera for almost 22 years (since 1999), but her first job was for a company that made her their go-to operator for all concerns related to the infamous Y2K Bug.
Lindsay joins us to discuss how she bridges the gap between the regular consumer and the complexities of getting earthquake insurance. She shares her previous work with managing a “Y2K Data Desk” in 1999 and why she didn’t like working in insurance at the time. She describes how living in California made her curious about earthquake insurance and explains how agents are in danger of being eliminated as more companies are leaning towards direct-to-consumer programs. Lindsay also discusses how her social media skills have generated GeoVera a considerable following.
"In social media, people don't want to follow companies, they want to follow people. And they want to engage with people." - Lindsay Corran
Today on Spot On Insurance:
- Lindsay's career in the late '90s and her journey towards the insurance industry
- Lindsay's work as the manager of the Y2K Data Desk
- How Lindsay's parents made her pay for rent when she was a student
- The lessons Lindsay learned from the way her parents made life a bit hard for her
- How living in California made Lindsay become more interested in earthquake insurance
- Why Lindsay initially didn't like the idea of working for an insurance company
- What is the "disruption of distribution," and how it's about removing the agents
- What their company did to help keep agents at the forefront of insurance transactions
- The challenges of innovating in a traditional industry such as insurance
- The complexities involved in earthquake insurance
- How Lindsay plans on simplifying earthquake insurance for clients
- Lindsay's thrifting hobby and how it helps in her career
- Social media marketing and how Lindsay capitalized on it during the pandemic
- The new opportunities Lindsay is excited to see in the future of insurance
Key Takeaways:
- 50% of people don't truly understand what they're buying when they get a homeowner's policy
- Earthquake insurance can be complex and difficult to wrap your mind around if you don’t go through an agent
Resources:
- Vinyl Consumption
- ITC Vegas 2021
Connect with Lindsay Corran:
- GeoVera
- Lindsay Corran on LinkedIn
- Email: lcorran@geovera.com
- Phone: (925) 212-8066
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Dustyne Bryant is an independent insurance agent advocate and licensed insurance agent. She is the Personal Lines Academic Director for The National Alliance for Insurance Education & Research, one of the country’s best sources of continuing education credits for insurance and risk management professionals. Dustyne is also the host of the Awkward Insurance podcast, a show that talks about the everyday struggles of those in the field.
Dustyne joins us to discuss the benefits of pursuing continuing education and how to separate yourself from those who take the same CE courses that everyone else takes. She shares how her passion for personal conversations led her to find success in the insurance industry and the benefits of obtaining multiple designations. She explains how their company markets to high school students to generate interest in working in the insurance industry. Dustyne also shares her experience as a podcast host and what inspired the name of her show.
"The best situation for our industry is growth and being able to look ahead." - Dustyne Bryant
Today on Spot On Insurance:
- How Dustyne wound up working in the insurance industry
- Why Dustyne knew being a nurse was not her path
- How her passion for personal conversations helped her find success in insurance
- Dustyne's advice for agents regarding their CEs
- Why you shouldn't take the easiest path in your CEs
- The subscription to the National Alliance for Education & Research and the courses they offer
- The benefits of having multiple designations in insurance
- How Dustyne’s company markets to high school students
- Dustyne's advice to insurance agencies who are looking to expand through employment
- Dustyne's thoughts on previous hard markets and the one we have right now
- What it's like hosting a podcast and why it's called Awkward Insurance
Key Takeaways:
- CEs can be used to market yourself to the world.
- Having the same designations as the next agent won’t help you stand out.
Connect with Dustyne Bryant:
- The National Alliance for Insurance Education & Research
- Awkward Insurance Podcast
- The National Alliance Academic Directors
- Email: dbryant@scic.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Erik Mitisek is the CEO of Highwing, the first open data platform for commercial insurance. They provide brokers new and innovative tools that can improve the process while enhancing the customer experience. Erik is also the host of the Zoom Into Insurance podcast, a show that brings insurance professionals together to discuss the many innovations in the industry and the future of insurance.
Erik joins us to discuss how Highwing’s open data platform puts them ahead of the competition. He describes what it was like growing up in Colorado and why he focused on establishing a company in the insurance industry. He explains how open data architecture works, the benefits of having an open data platform in your company, and shares his thoughts on how the industry will function after the pandemic. Erik also describes what it’s like to host his own podcast about insurance and how a company’s leadership impacts its ability to thrive.
"If we all collectively build towards a common set of standards and outputs, the ability for systems, people, and markets to connect not only becomes scalable - it becomes exponential." - Eric Mitisek
Today on Spot On Insurance:
- Eric's educational degree and why he never really left Colorado
- Why Eric's entrepreneurial spirit brought him to insurance
- The problem Eric wanted to address when he started his company
- The platform HighWing offers and how it works through open data architecture
- How open data platforms can speed up innovation and efficiency
- The complex nature of insurance and the new systems that can make it simpler
- What the future of insurance will look like if open data platforms become mainstream
- Eric's thoughts on how the insurance industry will function post-pandemic
- Defining leadership and how it makes a company thrive and accelerate
- Why the industry is having difficulty embracing technological innovations over legacy systems
- What Eric does outside of HighWing to support the Colorado citizens
- How API can connect everything in the world
- Thoughts on the upcoming InsurTech Connect conference
Key Takeaways:
- Old and new insurance companies should be comfortable with taking more risks regarding the use of new systems and tools.
- The largest CRM platform in the world, SalesForce, is rooted deeply in connectivity and application infrastructure.
Resources Mentioned:
- Ep. 110: The Godfather of Insuretech
- InsurTech Connect
Connect with Eric Mitisek:
- Highwing
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Kenny Urbania is the CEO of The Agency Collective, a company that helps various insurance agents become new independent agencies. Their services include access to educational tools, lead conversion training, and customer retention strategies. Kenny has over 25 years of experience as an agent, starting his career as a scratch agent. He also established the LifeGOAT platform, where agents can answer questions that automatically generate quotes sent to various carriers.
Kenny joins us to describe how The Agency Collective supports individual agents in their goal of becoming independent agencies and discusses the perks of being a member, especially with regards to commissions. He explains how their onboarding process works and how the pandemic boosted their membership program. Kenny also discusses how the LifeGOAT platform works and why it’s a game-changer for agents in the industry.
"The bottomline is: we're all partners in this together. Whatever helps the agents grow their revenue is our goal." - Kenny Urbania
Today on Spot On Insurance:
- How being in construction led Kenny to work in the insurance industry
- The advantages agency principals have when they join the Agency Collective
- Some of the things agency principals need to keep in mind when joining networks
- What sets Agency Collective apart from other clusters
- The enrollment process when agents try to join the Agency Collective
- Why they never touch the commissions that agents make
- How the pandemic became a blessing for their group
- What they learned about themselves throughout COVID-19
- The "incubator" setup for new agencies
- The meaning behind the term LifeGOAT
- The goal of their webinars series
- Who are "ROAD" agents, and how they designed their business model around them
- Life lessons Kenny learned in the Coast Guard that he applied in his work in insurance
Key Takeaways:
- New agents and agencies would do well to be well acquainted with the latest tools and technologies, especially now when everyone is trying to do work remotely.
- Just because you have experience in a different industry doesn’t mean you can’t work in insurance.
Connect with Kenny Urbania:
- The Agency Collective
- Email: kenny@theagencycluster.com
- Phone: (440) 478-7700
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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John Wales is the General Manager of CoverWallet for Agents, a product offered by CoverWallet. CoverWallet is the easiest way for a business to manage, buy, and understand commercial insurance. John has over 20 years of experience in the financial and insurance industry, with milestones including starting and growing companies to multi-million dollar valuations. John is also a music enthusiast, having voluntary experience as a music arranger for the Los Angeles Youth Arts.
John joins us to discuss what CoverWallet offers small and medium-sized businesses and how agents can benefit from CoverWallet for Agents. He discusses his passion for music, his DMA in Composition, and his experience in the music industry. He explains the potential losses a company can incur if a cybersecurity breach compromises its data. He discusses how commercial insurance writing is complex and how CoverWallet can make the process easier. John also shares his thoughts on the pandemic and what he believes we need to do as a country to get back on our feet as soon as possible.
"Writing commercial insurance and tailoring it to that specific small business is an intense process." - John Wales
Today on Spot On Insurance:
- John's music education and how he compares an orchestra to business management
- Why John's first insurance agency was not successful
- How John found his passion for commercial insurance
- How listening can benefit insurance agents more
- How CoverWallet is reinventing commercial insurance for small and medium-sized businesses
- John's thoughts on cybersecurity insurance and security breaches
- How much it would cost a company to be attacked by hackers
- Why agents should look up CoverWallet for Agents when fulfilling cyber liability coverage
- Why commercial insurance writing is complex
- The benefits of CoverWallet's cyber liability product
- How COVID-19 affected their company's goals and priorities
- What John believes we can do to help each other during these chaotic times
- When John's podcast will launch and what it will be about
Key Takeaways:
- 43% of all cyber breaches happened to one or two owner companies. Almost 50% of the losses are happening to small companies who can't afford the loss.
- For small businesses, cybersecurity is one of the biggest challenges.
Connect with John Wales:
- CoverWallet
- The Insurance Huddle Facebook Group
- Email: john.wales@thecoverwallet.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Nestor Solari is the Co-Founder and CEO of Sigo Seguros, an inclusive car insurance provider that primarily serves immigrants and other working-class populations who can’t purchase traditional auto insurance. The company seeks to extend a helping hand to those whose financial metrics aren’t seen as ideal by most insurance industries. Nestor believes the market for immigrants and other minorities locked out of traditional insurance will one day be the dominant market, and Sigo Seguros is simply leading the way. Nestor earned a degree in Finance from Penn State University, an MA in International Studies from the Lauder Institute at the University of Pennsylvania, and obtained his MBA from The Wharton School at the University of Pennsylvania.
Nestor joins us to describe Sigo Seguros's vision to serve the underserved in the insurance industry. He shares the ideas that led to where Sigo Seguros is today and explains how his career in finance allowed him to have a better perspective when he started an insurance company. He discusses the challenges of being a company that serves a relatively small market. Nestor also shares what we can look forward to from Sigo Seguros in the near future.
"There's a lot of opportunity to be unlocked in building a community around insurance." - Nestor Solari
Today on Spot On Insurance:
- Nestor's life in Uruguay and his aspirations as a young man
- How Nestor's career in finance got started
- The turning point in Nestor's life that made him come back to America
- How Nestor found a career in insurance
- Why Sigo Seguros primarily works with financial services serving underserved populations
- The main reason Nestor founded Sigo Seguros
- Why they don't use traditional financial metrics to underwrite insurance
- Why offering products and services for everybody does not truly serve everyone
- The challenges of building inclusive products
- The story behind the name of their company
- What it's like starting a company as someone outside of the industry
- How supportive Nestor's family was when he started small
- Nestor's relationship with Bryan Falchuk
- What we can expect from Nestor and Sigo Seguros
Key Takeaways:
- In insurance, traditionally, the less you think about it the better. The fewer touchpoints you have with your insurance company, the better.
Resources Mentioned:
- The Future of Insurance: From Disruption to Evolution by Bryan Falchuk
Connect with Nestor Solari:
- Sigo Seguros
- Email: nestor@sigoseguros.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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SOI231 - Patents: Lessons in Strategies & Financing
Russ Krajec is the CEO of BlueIron, a company that gives startups and small businesses the financing they need for anything patent-related. The goal is to help their clients enforce their intellectual property and build a strong portfolio. Russ is considered one of the best when it comes to patents. He has personally authored over 800 patent applications with experience in various types of intellectual property transactions, patent valuation, and portfolio curation. He is also an inventor with over 30 US patents to his name.
Russ joins us to describe the type of industry he works in and why the market has a severely underrated growth potential. He shares how he familiarized himself with the patent system and what made him pivot his career from engineering to becoming a patent agent. He explains the common misconceptions entrepreneurs have with patent filing, especially regarding the protection it gives. He discusses the common mistakes people make when getting patents and examples of ideas and inventions that should not be patented. Russ also explains how having intellectual property insurance can prevent bankruptcy.
"A patent has no value until somebody is using it." - Russ Krajec
Today on Spot On Insurance:
- Russ' career as an engineer and how he familiarized himself with the patent system
- What made Russ pursue a career as a patent agent
- Why independent inventors were called ‘walking malpractice lawsuits’
- What inventors should know about patent attorneys
- The moment Russ wanted to sell intellectual property insurance
- What the market for patents is like
- The common mistakes people make when getting patents
- Why patents don't mean protection
- What should - and should not - be patented
- An example of a patented technology protecting its owner
- The number of patents Russ has filed
- How patent insurance can save a company from bankruptcy
- What readers can expect from his book Investing in Patents
Key Takeaways:
- Companies are 22 times more likely to have a patent-related lawsuit than a directors and officers claim.
- There is a sophisticated and not well-advertised secondary market for patents.
Connect with Russ Krajec:
- IP Insurance
- BlueIron
- Book: Investing in Patents: What Startup Investors Need To Know About Patents
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Daven Michaels is the CEO of 123Employee, a world leader in business outsourcing that provides small and large companies with virtual assistants from the Philippines. Their virtual assistants are trained to be the best in social media, internet marketing, telemarketing, and customer service. Daven specializes in business strategy consulting, marketing solutions, and social media marketing and sales. Before founding 123Employee, Daven worked in the music industry as an event producer, chief financial officer, and writer.
Daven joins us to describe how 123Employee enables business leaders to get more done with less time and money. He shares his career in music, what 80’s fashion was like, and his success story that involved a cricket and Jack Nicholson. He explains where the name 123Employee came from and the services his virtual assistants offer. He discusses why he chose the Philippines for business outsourcing and why he initially hesitated opening an office in Manila, its capital. Daven also shares how the pandemic negatively affected his business initially and how, in hindsight, it made his business grow.
"If you're looking to outsource, what you want to start with is identifying the income generating activities in your business." - Daven Michaels
Today on Spot On Insurance:
- Daven's life before entrepreneurship and the time he worked with different bands
- What the '80s fashion was like
- Daven's cricket story and the entrepreneurial success that came after
- Daven's thoughts on how luck factors into a person's success
- The different business ventures Daven went into before his outsourcing company took off
- Why the term "outsourcing" was a taboo word back in the early days of 123Employee
- Why being first to market isn't always good.
- Daven's advice to those who want to start their own business
- The clients and companies 123Employee caters to
- Why Daven chose to utilize Filipino talent
- How the pandemic helped his business flourish
- Where the name 123Employee came from
- What the outsourcing process looks like with freelancers and agencies
Key Takeaways:
- In the face of adversity, small businesses innovate.
- You can take a shortcut to success by learning from those who walked the same path you’re walking.
- Don’t expect your VA to teach you how to run your business.
Resources Mentioned:
- Book: The Luck Factor
- Book: The 4-Hour Workweek
- LastPass
Connect with Daven Michaels:
- 123Employee
- Daven Michaels Official Website
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Dennis Logan Jr. is Cyber Safety Architects’ Chief Architect. Cyber Safety Architects (CSA) is an independent cyber insurance agency. Just as their name implies, Dennis and his team specialize in cybersecurity and cyber coverage. They don’t just offer cyber insurance, but also analyze business exposures and educate organizations on how to prevent an attack and what they should do if they fall victim to one. Before starting CSA, Dennis worked as an underwriter and broker at various insurance companies.
Dennis joins us to discuss what business owners should know regarding their cyber policies' fine print. He describes what made him decide to work in insurance and why he decided to start CSA. He discusses some of the common ways hackers get inside business systems and why your team members will always be the most vulnerable entry points. He explains the difference between getting private data before smartphones and how it is easier today. Dennis also shares tips and tools he recommends to vastly improve private or professional cyber security.
"Once something becomes a mainstream way of security, that's when things start to get hacked." - Dennis Logan Jr.
Today on Spot On Insurance:
- Where Dennis he grew up, and how he joined the insurance industry
- When Dennis’ entrepreneurial spirit made him realize what he really wanted to do
- Why Dennis prefers to learn something that's not in a book
- How the pandemic changed the way marketing was conducted
- The most essential cybersecurity coverage
- What can be classified as a tech interruption event
- How can a company prevent cybersecurity attacks and their options during one
- How many companies have their own cybersecurity team
- Why Dennis chose to leave his previous companies
- How hackers often work to get company information and data
- The difference between cyber vulnerability before smartphones and today
- What Dennis recommends when it comes to creating passwords
- Examples of phishing emails that may look legitimate to the untrained eye
- The fine print and policies business owners should be aware of
- The tools Dennis recommends that can significantly improve cybersecurity
- What Dennis looks forward to in the future
- How ILSA helped Dennis get a jump start in the industry
Key Takeaways:
- The last thing you want to do is to have to rely on your LinkedIn network to find an IT provider who will help you immediately for a cost that's going to be reasonable.
- Even if you're not the C-Suite or the IT person, you're still logged into a system in some way.
Resources Mentioned:
- Google Authenticator
- Book: The Perfect Weapon: War, Sabotage, and Fear in the Cyber Age by David E. Sanger
- LastPass
- 1Password
Connect with Dennis Logan Jr.:
- Cyber Safety Architects
- Phone: (443) 212-8047
- Email: dennis@csa.insure
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Jennifer DeFrenza is the Vice President of Marketing at Surex, an online insurance company based in Ontario, Canada. As Vice President of Marketing, she is responsible for employing, developing, and overseeing the company’s many marketing initiatives. She helps Surex achieve their short and long-term goals, improving their brand awareness, and executing marketing strategies for revenue and growth. Before becoming Vice President, Jennifer was Surex’s Director of Digital Marketing.
Jennifer joins us to discuss the professional risks she took to get where she is today. She shares the challenges of raising a family, helping her husband start a business, and climbing the ladder to success in insurance. She explains her role at Surex, the importance of digital marketing post-COVID-19, and what it means to have a team assigned for your company’s social media growth. Jennifer also describes the benefits and drawbacks of outsourcing and having your own group for marketing.
"COVID taught us digital marketing is really something you need to have." - Jennifer DeFrenza
Today on Spot On Insurance:
- Jennifer's childhood story, her life in Toronto, and why she pursued sales in college
- How Jennifer started working in insurance
- Jennifer's role as a Vice President of Marketing at Surex
- The pros and cons of outsourcing to an outside agency vs growing a team internally
- How Jennifer improved the way Surex worked on data gathering, transparency, and social media
- What Jennifer does to incentivize team members to engage with their social media presence
- The career risks she took to get to where she is today
- What it's like to lead a new company in a place where insurance isn't that popular
- The challenges of raising children while helping her husband launch his business
- The projects Jennifer is currently working on
Key Takeaways:
- It's critical to have someone who is an expert with social media and video
- There are a lot correlations between sales and marketing
Connect with Jennifer DeFrenza:
- Surex
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Matthew “Matt” Bruno is the Chief Operating Officer at ReSource Pro, a staffing company that caters specifically to organizations in the insurance industry. Their main office is in New York, but they have satellite offices in India and China. As Chief Operating Officer, Matt directs, coordinates, and administers the company’s operations and activities globally. Matt specializes in developing business strategies, financial forecasts, and creating innovative products and services. Before he started ReSource Pro, Matt was a successful English teacher in China.
Matt joins us today to discuss what ReSource Pro can do for small and large businesses in the insurance industry. He describes how the pandemic affected their operations, and how their office and team in China coped with the lockdowns and need for PPEs. He shares why he decided to move to China, what it was like being an English teacher on the other side of the world, and why he started ReSource Pro. Matt also explains the struggles of running a staffing business amidst COVID-19 and describes what we can expect from ReSource Pro in the near future.
"When you get a resister who becomes converted, they are your best champion." - Matt Bruno
Today on Spot On Insurance:
- Matt's childhood and where his passion for entrepreneurship started
- How Matt started working in the insurance industry
- Matt's experience with teaching English in China
- What inspired Matt to start ReSource Pro
- How prepared Matt's team was during the first few months of the pandemic
- Acquiring PPEs and facemasks for their China staff
- The challenging part about getting extra computers for a work-from-home setup
- How COVID-19 impacted Matt's business going forward
- ReSource Pro’s services and how they help clients sort through organizational messes
- Types of organizations ReSource Pro are able to assist
- The benefits of being an easy-to-audit organization
- What makes ReSource Pro a unique and award-winning business
- The cultural changes Matt had to adjust when he went to China for the first time
- What's in store for ReSource Pro in the near future?
Key Takeaways:
- Making sure people know what their role and responsibilities are is important.
- Even though you have a standard document system, every account manager is putting things in different places. So, their audits are often chaotic.
Resources Mentioned:
- Monster
Connect with Matt Bruno:
- ReSource Pro
- Email: mbruno@resourcepro.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Dan Maher is the Executive Director at Excess Line Association New York (ELANY), a non-profit industry advisory association. The services of ELANY are focused on helping their clients stay compliant with excess line law. Lorenzo Houston is the Tax Compliance Manager at ILSA, where he is responsible for compiling and reviewing tax returns on behalf of a client. Brian Allen is the Special Projects Administrator for ILSA. His responsibilities include working with developers and regulatory representatives to develop and enhance online tools for the industry.
Dan, Lorenzo, and Brian join us today to discuss how our companies adapted to the rapid changes in how we worked during the pandemic. We discuss how Dan’s team was gearing up with a work-from-home system just before the quarantines began and how Project CATT helped ILSA’s clients cope with online work efficiently. We discuss how small and large agencies struggle with surplus lines regulations differently. Dan explains the training they gave ELANY’s staff members regarding cybersecurity and how non-official emails are considered a cyber risk. We also discuss why surplus line outsourcing has become more critical in light of the pandemic and its mandatory health protocols.
"As premium increases and the market hardens, the need to outsource surplus lines becomes even more invaluable." - Lorenzo Houston
Today on Spot On Insurance:
- How cloud systems allowed ELANY staff to work remotely
- What it was like to create a work from home solution on the fly
- The recent system changes ELANY applied that made their services more seamless, efficient, and automated
- What Project CATT is and how Brian made it work for ILSA's clients in 2020
- The challenges faced by smaller and more prominent agencies in the area of surplus lines
- Why compliance is often overlooked by agency executives
- How ILSA fared during the pandemic
- How ELANY supports and educates its members with the challenges in cybersecurity regulation
- How ELANY teaches their employees to be on the lookout for potential cybersecurity risks
- ILSA's cybersecurity measures and the solutions they are working on
- What ELANY did at the height of the pandemic and how it affected them as an organization
- The politicians that helped the insurance industry during the pandemic
- Why surplus line outsourcing has become more invaluable today
- The impact of ELANY's charitable acts in 2020
Key Takeaways:
- Companies who used cloud-based software before the pandemic were businesses that had little problems transitioning to a work-from-home setup.
- Cybersecurity risks are at its highest when employees open emails that appear to be official or sent by someone within the organization.
Resources Mentioned:
- Renaissance Systems Inc.
Connect with Dan Maher:
- The Excess Line Association of New York
- Email: dmaher@elany.org
- Phone: (646) 210-8075
Connect with Lorenzo Houston:
- Email: lhouston@ilsainc.com
- Phone: (254) 729-6133
Connect with Brian Allen:
- Email: ballen@ilsainc.com
- Phone: (254) 729-8002
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Aaron Steffey is the Co-Founder and Director of Sales and Marketing at Propeller Bonds—a company with a goal to simplify, automate, and distribute insurance products for clients more efficiently and effectively. The company's current focus is on the surety bond market in the USA, which is worth over $6 billion. As Director of Sales and Marketing, Aaron is responsible for the company’s sales, marketing, and acquisition deals. Aaron is also a managing partner at Steffey Insurance Agency, a family-owned insurance broker in Indianapolis, Indiana.
Aaron joins us to discuss how Propeller Bonds started and why they concentrated on surety bonds. He shares what it’s like growing up with parents who own an insurance agency. He discusses what surety bonds are for and why they were often ignored or looked at with animosity in the industry. He explains how the Propeller platform works and how it automates what used to be cumbersome steps. He describes how the pandemic was a blessing in disguise for their company. Aaron also shares his tips for those who are planning on starting an insurtech company.
"Employee count is not the most important thing in insurance; you want to be efficient." - Aaron Steffey
Today on Spot On Insurance:
- Aaron's educational background and how he was introduced to insurance
- What it's like growing up with parents who worked in insurance
- How Aaron creates a balance between family and business
- What Aaron predicts for the future of independent agencies
- Why independent agencies have an advantage over carriers when it comes to flexibility
- Why bonds are important in insurance and why agents hated bonds before
- How agents can use their company's platform
- Why the pandemic was a huge game-changer for their company
- How Aaron set up his team and the people he needed
- How their marketing went virtual instead of personal interaction
- Why Zoom and other virtual meeting apps hurt phone calls
- Aaron's advice to future insurtech entrepreneurs
Key Takeaways:
- Surety Bonds are a kind of revenue generator for the municipality.
- Surety bonds were often ignored because of how difficult the process was of obtaining one.
Connect with Aaron Steffey:
- Propeller Bonds
- Steffer Insurance Agency
- Company Email: team@propellerbonds.com
- Personal Email: aaron@propellerbonds.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
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Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Bryan Falchuk is an Insurance & InsurTech Advisor, Speaker, Leadership Coach, and Best-Selling Author. He is the Founder and Managing Partner of Insurance Evolution Partners, a consultancy that helps insurance companies innovate and evolve during times of disruption. He is the author of The Future of Insurance Volume 1 and Volume 2, where he highlights how legacy carriers adapted to changing times and how startups responded to different circumstances. Bryan is also an expert in general management, operations, sales & distribution, and business intelligence.
Bryan joins us today to discuss the lessons the pandemic taught him and how his mindset has become adapted to the disruption it brought. He shares some of the key takeaways from The Future of Insurance: From Disruption to Evolution: Volume II: The Startups and describes the difference between the problems that affect legacy carriers and startups. He explains how a well-funded startup isn’t always successful and discusses the complexities of compliance and regulations when it comes to startups. He also shares why companies - big or small - should always strive to build a healthy relationship with their regulators and discusses the lessons he has learned from failure.
"There are complications in being a legacy and being a startup." - Bryan Falchuk
Today on Spot On Insurance:
- How Bryan's life changed before the pandemic and how he adapted
- How the pandemic allowed business to be more efficient
- Why the pandemic made the business side of things have a more human approach
- What's new with the second volume of Bryan's book
- The existential threat a legacy carrier would likely never face
- How businesses can make capital strategies through relationships
- Is it harder to be an incumbent or a startup
- Why some are made for legacies and others for startups
- What is "Diversity of Thinking" and how an organization applies it
- Why a well-funded startup doesn't always lead to success
- What compliance is from a startup perspective
- The role of regulators in the industry and building a good relationship with them
- What Thimble is, what they do, and why they have a close relationship with regulators
- The key lessons Bryan learned from the failures he experienced
- What inspired Bryan to write books and blogs in the first place
Key Takeaways:
- Some insurance businesses are only successful because they were well-invested.
- You all can have a good relationship with a regulator, but it takes a different approach to them.
- You have to build relationships and be straight with people.
Resources Mentioned:
- Thimble Insurance
Connect with Bryan Falchuk:
- Insurance Evolution Partners
- The Future of Insurance
- The Future of Insurance: From Disruption to Evolution: Volume I. The Incumbents
- The Future of Insurance: From Disruption to Evolution: Volume II. The Startups
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Sabrina Slater and Tameika Johnson are core members of ILSA, and both have been with us for over 13 years. Sabrina is the Annuals and Corporates Manager responsible for registration submissions with the Secretary of State and Department of Revenue. Sabrina holds a SILA Associate Designation, a certification earned after undergoing professional development courses at the Securities & Insurance Licensing Association. Tameika is the Annuals and Corporates Supervisor and specializes in multistate corporate franchise taxes. Tameika has also garnered awards and honors such as those for Most Litigated Cases Handled and Most Pro Bono Cases Handled.
Sabrina and Tameika join us today to discuss what happens when your agency license is declared invalid by the state and the steps the agency needs to undergo to have a valid license again. They describe their roles and respåonsibilities at ILSA and how the pandemic shifted their perspective regarding office work. They discuss why agencies need to do their Annuals and Corporates Filings, and the challenges agencies face when applying for a license. They explain why some agencies prefer to get licensed themselves and why they don’t recommend an in-house approach. They also share their thoughts on Zoom meetings, the coronavirus, and how they managed to stay positive during these trying times.
"If you want to do business and you want to be compliant, you’re going to have to do the leg work." - Sabrina Slater
Today on Spot On Insurance:
- Sabrina and Tameika’s responsibilities at ILSA.
- The beginning of the pandemic and when they realized they would have to work from home.
- The struggles of working from home due to lack of equipment.
- Their thoughts when the group started webinars.
- Comparing live webinars and podcast recordings.
- What they learned about themselves when they worked from home.
- Annuals and Corporates Filings and why insurance agencies need them.
- What happens when your agency license is invalid?
- Why agencies struggle to get their licenses validated.
- Tameika's experience working with clients and preparing them for license validation.
- The issues Tameika found when working on withdrawals.
- How non-filing can affect the way your agency conducts business.
- Where agencies can check their licensing status.
- Corporate and LLC conversions in the context of regulatory compliance.
- Why some agencies prefer to take compliance and licensing by themselves.
- How COVID-19 affected their health and the health of their colleagues.
Key Takeaways:
- The only way you're going to get experience in what you're supposed to do is if you're doing it on a regular basis.
- States do a great job at reminding agencies what they should get filed.
- When you change from a corporation to an LLC, there are states where an LLC doesn't have to file taxes and there are states where a corporation does.
Resources Mentioned:
- State Regulators Contact Information
Connect with Sabrina Slater:
- Email:sslater@ilsainc.com
- Phone: (254) 729-6109
- SILA
Connect with Tameika Johnson:
- Email:tjohnson@ilsainc.com
- Phone: (254) 729-6119
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Jennifer Morrison is the Project Director for Nova Mutual, an insurance company in Ontario that provides agriculture, auto, commercial/business, and home insurance. As Project Director, Jennifer is responsible for developing and implementing innovative solutions while retaining customer empathy. She is a self-proclaimed property and casualty insurance geek specializing in producing collaborations between technology and business teams. She is also a Professional Agile Leader as certified by Scrum.
Jennifer joins us to discuss what makes the Canadian marketplace unique and why US companies have problems establishing a presence. She shares how the pandemic made her choose a different career path and describes the hardships of helping her kids with their online classes. She explains the role of a business analyst, why Ontario has the term “Gender X,” and why she found insurance as an exciting industry. Jennifer also discusses the differences between US and Canadian rates and regulatory standards.
"In general, the insurance marketplace is behind every other industry." - Jennifer Morrison
Today on Spot On Insurance:
- How Jennifer's career in insurance started.
- The challenges Jennifer faced amidst COVID-19.
- How the pandemic made her switch careers.
- Why she started working for Nova Mutual during the pandemic.
- The struggles of online schooling for children and their parents.
- What it takes to be a fully rounded business analyst.
- What is Gender X and why they decided to use this term in Ontario.
- How gender plays into the premium cost of insurance.
- Why Jennifer found insurance as an interesting industry.
- What is a Professional Agile Leader?
- How a design thinking facilitator builds teams.
- Why being a bilingual country makes it difficult for US companies to penetrate Canada.
- What makes Canada have a unique marketplace?
- The difference between Canadian and US regulatory standards.
- Comparing and contrasting Canadian and US rates.
Key Takeaways:
- If you don't fight claims, you set precedent.
- Canadian rates are heavily regulated by the government.
- Every Canadian province’s insurance system and regulations are completely different
Resources Mentioned:
- Shane Drever Artwork & Illustration
Connect with Jennifer Morrison:
- Nova Mutual
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Adi Kaimowitz is the President and CEO of Virtual Actuary, a company that aims to lead the future of work by disrupting the traditional approach to hiring in-house actuaries. They promise to match or exceed quality levels of fixed staff, all the while reducing costs. Adi has over ten years of experience in the actuarial industry, with his previous career as an actuary recruiter. His years of experience allowed him to specialize in marketing, IT, operations, leadership development, and management consulting. Adi has also garnered more than a handful of accolades, including being nominated for Founder of the Year in various business awards in South Africa since 2019.
Adi joins us to discuss how Virtual Actuary represents the future of employment and providing services. He shares his journey to becoming a leader in actuarial sciences and discusses how COVID-19 disrupted the economy and the industry and forced them to adopt new ways to stay in business. Adi describes what the future of work would look like and how the gig economy plays into it. He explains the significance of building credibility, whether as an individual talent or as a startup. He shares the mindset of an industry disruptor and why he calls them “the lone ranger” of the industries they are disrupting. Adi also describes some of the accolades he has received and how his team financially performed in 2020.
"We are moving away from the ‘corporate brand’ world to the ‘you as a brand’ world." - Adi Kaimowitz
Today on Spot On Insurance:
- The struggles and advantages of working virtually.
- What led Adi to pursue a career in actuarial sciences?
- How COVID-19 forced companies to think outside the box.
- What Adi believes the future of work would look like.
- Why the industry was slowly transitioning to virtual work before the pandemic.
- Building your credibility factor as an expert in your field.
- The gig economy and how it's changing the future of work.
- How to best embrace the new world of work.
- Consortiums and how they would shape the way workers are paid.
- What's the mindset of an industry disruptor?
- Adi's tips for startups when competing against established firms.
- What it means to establish credibility as a startup.
- Adi's accolades and what he works for to distinguish himself.
- How Adi and his team weathered the economic recession.
Key Takeaways:
- Accolades end when you're so influential that you can make the world a better place.
- Being a startup means it's all about your credibility factor.
Connect with Adi Kaimowitz:
- Virtual Actuary
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Laura Adams is a personal finance and business expert, author, speaker, and podcast host. As a finance expert, she specializes in personal finance and small business management, retirement, debt, credit, and money management. She is the author of Money-Smart Solopreneur: A Personal Finance System for Freelancers, Entrepreneurs, and Side-Hustlers, where she talks about riding the wave of solopreneurship using her book as a roadmap. Her most recently published book is Debt-Free Blueprint, a guide on how to rid your life of debt in the right order. Laura is also the host of the Money Girl podcast, a weekly show covering personal finance topics such as debt, insurance, and retirement.
Laura joins us to discuss how people can learn to manage their finances at any age and be debt-free by the time they retire. She shares her passion for entrepreneurship and how it eventually led to becoming an expert in money management. She describes how her podcast got started and what inspired her to start one. She explains why insurance is difficult to buy and why having a lot of money doesn’t translate to financial freedom. Laura also shares what readers can expect from the Debt-Free Blueprint book.
"If you don’t understand money; if you don’t take an interest in it, how can you ever succeed?" - Laura Adams
Today on Spot On Insurance:
- Laura's life in the South and how she found her passion for entrepreneurship.
- Why academic intelligence does not correlate with financial intelligence.
- When Laura started her podcast and why she launched the Money Girl show.
- When Laura realized she can help people understand their money better.
- Why Laura believes people are struggling with money management.
- How parents can help their children learn about personal finance.
- Why insurance is something people have difficulty buying.
- The response Laura received from the people she helped and those who listened to her show.
- How you can make a habit of investing and adopting it as a lifestyle.
- How to determine which debts to go after first.
- The best way to learn and grow your self-confidence in public speaking.
Key Takeaways:
- Insurance is something we all have to buy, but would rather not use.
- Teaching children how to manage their money sets them up for long-term financial success.
Connect with Laura Adams:
- Official Website
- USInsuranceAgents.com
- Laura Adams on Facebook
- Laura Adams on Twitter
- Laura Adams on LinkedIn
- Money Girl Podcast
- Book: Money-Smart Solopreneur: A Personal Finance System for Freelancers, Entrepreneurs, and Side-Hustlers
- Book: Debt-Free Blueprint: How to Get Out of Debt and Build a Financial Life You Love
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Heath Shearon is the self-proclaimed Mayor of Insurance Town and host of the Insurance Town Podcast, a platform where he shares the wisdom he obtained from being part of the industry over the years. He occasionally has guests on his show, especially people he has previously worked with or got to know throughout his career. Heath credits the pandemic for starting his podcast, having seen an opportunity to realize his dream in a time when most business owners were pessimistic. Heath is a second-generation insurance professional with over 15 years of experience in marketing and sales.
Heath joins us today to discuss where the title “Mayor of Insurance Town” came from and why he’s always wanted to start his own podcast. He shares his love for the insurance industry and how his family has thrived on its success for decades. He explains the significance of building rapport and a vast network of connections as an insurance professional. He describes some of the challenges he experienced while working with his father and the lessons he learned from them. Heath also shares how he has kept an air of optimism during the pandemic.
"Our industry is all about relationships. It all goes back to relationships, no matter what it is." - Heath Shearon
Today on Spot On Insurance:
- How the title "Mayor of Insurance Town" started.
- What the industry as a whole has done for Heath's family.
- Building relationships to compel people to buy insurance.
- The challenges of working with Heath's father in their family business.
- The skills he learned in the corporate world that Heath wouldn't have learned in the family business.
- Why people in high positions shouldn't be treated differently when building rapport.
- The best thing Heath learned from his father.
- Heath's thoughts on having his own podcast and how it changed his life.
- What it's like to have your family's careers revolve around insurance.
- How Heath managed to keep a level head amidst the pandemic.
Key Takeaways:
- Preparation meets opportunity.
- Always leave the industry you work with better than you found it.
Connect with Heath Shearon:
- Insurance Town
- Podcast: Insurance Town
- Email: heath@insurancetownpodcast.com
- Heath Shearon on LinkedIn
- Heath Shearon on Facebook
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Andrew Stotz is the Co-Founder and CEO of A.Stotz Investment Research, a company that provides services to reduce investment research costs and help with their existing stock portfolios and asset relocation strategies. He is the host of the My Worst Investment Ever podcast, a show where he interviews successful business owners and investors and asks them about their worst mistakes on the way to the top. Before venturing into the world of business valuations, economic research, and podcasting, Andrew co-founded CoffeeWORKS, a 26-year old wholesale coffee roasting company that services many of Thailand’s top hotels, coffee shops, offices, and restaurants.
Andrew joins us to describe how he managed to find success despite the many hurdles he had to jump over in life and the people who motivated him to keep going. He discusses the COVID-19 situation in Thailand and how their government responded. He discusses the time he went out on his own with no education, his desire to start a business in Thailand, and when he and his business partner nearly lost everything. He describes how he and his partner slowly crawled their way to where they are today and their other business ventures. Andrew also explains what motivated him to write books on investment and wealth building and shares what not to do when you’re a beginner investor or startup owner.
“The one thing you can control is your costs, and you can control that right now.” - Andrew Stotz
Today on Spot On Insurance:
- What life is like in Thailand right now and how they handled the pandemic
- Andrew's struggles with his education and the time he relied on food stamps and kindness
- What made Andrew move to Thailand, and why he stayed
- Why business relationships are more important than money in Thailand
- The cultural differences between the USA and Thailand
- Andrew's experience when their business in Thailand fell with the economy
- How Andrew managed his sister's death amidst their business failure
- How CoffeeWORKS was forged in the foundry of failure
- The various lessons Andrew learned from his failures and recovery
- Why Andrew focused on reducing costs to the minimum and how it helped them succeed
- Andrew's motivation for writing various books on wealth building
- The most interesting stories Andrew has heard from his podcast guests
- The common mistakes investors and startups make and how to avoid them
Key Takeaways:
- The most common mistake in business is people failing to do their research.
- We should always learn from the mistakes made by other people.
Connect with Andrew Stotz:
- A.Stotz Investment Research
- CoffeeWORKS
- Podcast: My Worst Investment Ever
- Valuation Masterclass
- Andrew Stotz on LinkedIn
- Book: My Worst Investment Ever
- Book: 9 Valuation Mistakes and How to Avoid Them
- Book: How to Start Building Your Wealth Investing in the Stock Market
- Book: Transform Your Business with Dr.Deming's 14 Points
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Shannell Chibueze is the Chair of the Diversity, Equity, and Inclusion Council at Woodruff-Sawyer, one of the country’s largest insurance brokerage and consulting firms. Woodruff-Sawyer provides customized programs and coverage based on your profile and your business through services like risk management in property, surety, management liability, casualty, and cyber liability. Shannell provides tailored coverage solutions with a wide range of clients, from Pre-IPO startups to Fortune 500 companies. Before becoming Chair, Shannell was the company’s Vice President and Senior Account Executive.
Shannell joins us to discuss workplace diversity and how to make your leaders see the benefit of having a diverse organization. She shares her experience with working in corporate as a person of color and how she chose her path to success instead of following the safe route. She describes why she uses real-world examples of social injustice to spark conversations at the workplace. She explains what workplace diversity means and why it’s not just about adding more minorities to your organization. Shannell also shares her advice to those who want to voice their concerns on workplace diversity and social equality and how you can incorporate diversity initiatives in the workplace, even while working remotely.
“When you look at diversity, equity, and inclusion, you have to expand it to be inclusive for everybody.” - Shannell Chibueze
Today on Spot On Insurance:
- Shannell's experience in an all-woman-owned company.
- How she went against the norm when it came to her professional journey.
- Why People of Color have to be more innovative when it comes to accessing opportunities.
- How being honest about your hesitations can bring out the best in you.
- Shannell's transition from being a broker to working in risk management.
- Why you should make an effort to connect to all the leaders in your company.
- Using examples of social injustice to start conversations about workplace equality.
- The grander picture of diversity in the workplace.
- The benefits of bringing the conversation of inequality into the workplace.
- Shannell's advice for using your voice within your organization to spark conversations around diversity.
- Why employees need to have their leaders hear their stories.
- Having diversity initiatives while working remotely.
Key Takeaways:
- A lot of our gifts are in our fears.
- It's important to connect to all leaders in your organization.
- Having the support of your leaders can make all the difference.
Connect with Shannell Chibueze:
- Woodruff Sawyer
- Email: schibueze@woodruffsawyer.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Patrick Kelahan is a Building and Insurance Consultant at H2M, a company that provides multi-disciplinary consulting and design services focusing on engineering, architectural, and environmental challenges. He specializes in insurance claims and consultations for those in the InsurTech industry, including insurtech startups. He is also experienced in property insurance appraisal, staff training, and regulatory compliance. Patrick’s professional goal is to continuously improve the impact he has on customers and his community.
Patrick joins us to share his thoughts on the InsurTech industry, its future, and how it can help those in need in the US and internationally. He describes the circumstances that led him to join the insurance industry, the insurance industries in underdeveloped nations, and what the industry can do better to serve those who need insurance. He explains why the value of insurance is more about trust than education and how the pandemic worsened the supply chain the industry has been having. Patrick also shares a glimpse of some of the upcoming projects at H2M, especially those involving 3D printing houses for the community.
"Once you realize your little piece can help people dramatically, it puts an urgency on what you’re doing." - Patrick Kelahan
Today on Spot On Insurance:
- Patrick’s experience in construction and the US Government Disaster Program.
- Why Patrick and his wife decided to adopt several children.
- How Patrick started working in the insurance industry and where his passion comes from.
- Why Insurtech isn't just one thing and how it's akin to an elephant.
- How insurance is the primary driver of everything that makes money.
- Getting insurance to people living in underserved countries.
- Why the value of insurance starts with trust before education.
- The effect of COVID-19 on the supply chain and Patrick’s thoughts on stimulus checks.
- Patrick's thoughts on the H2M project and the potential it possesses.
Key Takeaways:
- You innovate from the customer backwards.
- The future of housing includes 3D printers.
Connect with Patrick Kelahan:
- H2M
- Ten C’s Project
- Email: pkelahan@h2m.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Fred Karlinsky is a Shareholder and Co-Chair at Greenberg Traurig, LLP (GT), a law firm with over 2,200 attorneys in 40 locations in the United States, Europe, Asia, Middle East, and Latin America. Due to its scope and size, GT is recognized as one of the largest firms in the United States. Fred is internationally recognized when it comes to anything related to insurance regulations. He represents clients for property, automobile, and worker’s compensation cases and also serves as an Adjunct Professor of Law at the Florida State University College of Law.
Fred joins us today to discuss how the insurance industry has coped with the rise of cyber attacks in the last decade. He shares the different cybersecurity threats the sector has recently faced and how data can be valued and sold by cyber attackers. He explains how ransomware works, what the hackers can do to company and client data, and what a company should do if targeted. He describes how companies should prepare for a potential threat and what ordinary citizens should do to secure their data. Fred also explains the key differences between US regulations and European regulations.
"If you fail to prepare...prepare to fail." - Fred Karlinsky
Today on Spot On Insurance:
- Fred's career and the different places he's worked.
- The most recent cyber-attacks the insurance industry has suffered.
- How data can be valued and sold by cyber attackers.
- The prevalence of ransomware and how to beat this type of attack.
- How all of our information is all being captured somewhere.
- The least thing you can do to protect your personal information.
- How Fred's home phone helped protect him against identity theft.
- What the government suggests about paying ransomware.
- How small agencies can avail of cyber insurance.
- What companies can do when there's a breach in security.
- What a seasoned team is and how they can help you against cyber attacks.
- The differences between the US federal regulations and the European model.
Key Takeaways:
- Locking down your credit is helpful.
- Cybersecurity is going to be an issue for us for years to come.
- Make sure your insurance company has cyber insurance.
Connect with Fred Karlinsky:
- Greenberg Traurig, LLP
- Email: karlinskyf@gtlaw.com
- Phone: 1 954.765.0500
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Danny Lee is the President of SDB Missionary Society, an organization led by Seventh Day Baptist missionaries, and a known expert in the world of claims adjusting. He is the author of the book The Art of Property Claims Adjusting: Techniques on How to be a Great Adjuster, where Danny shares his common-sense approach to property claims adjusting and how to be the best in this business. He has over 33 years of experience in multi-line claims, 25 of those years as a leader in the insurance industry. Danny is also a screenplay writer, having written several screenplays including Beneath the Rivers, Park & Ride, and The Unthinkable.
Danny joins us to share how a new claims adjuster can rise to become one of the best in the industry. He shares where his passion for adjusting came from and why he believes insurance professionals should be adjusters first. He discusses the difference between a new adjuster and someone with years of experience in the field. He explains why adjusters often leave the industry and what companies should do to keep them. He also discusses some of the shortcomings of most adjusters today and what they can do to improve.
"The one thing you need to do is carry confidence." - Danny Lee
Today on Spot On Insurance:
- Danny's experience with helping his father who worked in insurance.
- Why property claims adjusting is Danny's passion.
- Why insurance professionals should start as adjusters.
- The critical techniques most adjusters need to learn in their business.
- How a new adjuster often handles a claim compared to an experienced adjuster.
- What new adjusters should never forget when it comes to customer experience.
- How insurance companies can keep adjusters from moving on to other industries.
- Areas Danny believes most adjusters can improve.
- Why claims adjusters function as estimators.
- The advantages of new technologies in the adjusting industry.
- What's next for Danny as an author and speaker.
- What it was like to be on a 5-month cruise.
- How COVID-19 affected Danny and his family.
Key Takeaways:
- Employees leave not because of the company, but because of their boss.
- An agent should always know the difference between confidence and arrogance.
- Adjusters oftentimes encounter clients who are filing claims for the first time in their lives.
Connect with Danny Lee:
- SDB Missionary Society
- Danny Lee’s Official Website
- Book: The Art of Property Claims Adjusting: Techniques on How to be a Great Adjuster
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Christine Garza is the Vice President of Business Development at Foresight, a company that provides insurance for safety-critical businesses. Their services allow companies to make risk management more accessible, especially with the first tech-based worker’s compensation program. Christine has 15 years of experience in insurance, starting as an underwriter for The Hartford in 2006. She obtained her BA in English at The University of Texas at San Antonio and her MA in Communications at the University of the Incarnate Word. Christine is also a Community Volunteer for the San Antonio Food Bank and a Fundraising Volunteer for the March of Dimes.
Christine joins us to discuss how the pandemic affected her career and how it inspired her to join Foresight. She describes the difference between working for legacy companies and startups, how she got her first job as an underwriter, and some of her career highlights and challenges she’s faced throughout her career. She describes what Foresight offers and how their platform allows companies to prevent accidents. She explains her responsibilities as VP of Business Development and how she guides the relationship between agents and brokers. Christine also shares how she kept a positive mindset in the last 12 months and her advice for switching careers.
"If you don’t believe in yourself, nobody else will believe in you.” - Christine Garza
Today on Spot On Insurance:
- Christine's career path and her experience working as a rookie underwriter.
- The hurdles Christine had to jump over to get where she is today.
- How COVID-19 affected her and how she succeeded despite it.
- The cultural workplace differences in insurtech and legacy carriers.
- What Foresight is and the services they offer to clients.
- Why the user experience in their platform is different from the competition.
- What attracted Christine to work for Foresight?
- How Foresight can be used to prevent accidents in the first place.
- Christine's motivation to start working in a startup environment.
- Christine's role at Foresight and her key responsibilities.
- How Christine stayed positive despite the situation with the pandemic.
Key Takeaways:
- You should always have a Plan B. You need to think 5-10 steps ahead, so if it doesn't work out, you have a contingency plan.
- InsurTech teams are always leaner than their legacy counterparts.
Connect with Christine Garza:
- Foresight
- Email: christine@getforesight.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Olorunmola Fiyinfoluwa Victoria, or simply Folumy, is a Risk Management Analyst for Tangerine Life, a financial technology company in Nigeria that provides insurance products from life insurance to education plans. She is the co-host of the InsurTech Business Series Podcast, the No.1 InsurTech Podcast in the African continent where they talk about innovation and technology amidst Nigeria’s emerging insurance industry. Folumy is also an Associate of the Chartered Insurance Institute of Nigeria.
Folumy joins us to discuss Nigeria's insurance climate and the many ways she believes their industry can improve for better customer reach. She describes how pursued a career in insurance, why being a banker didn’t appeal to her, and the challenges she faced along the way as a female Nigerian. She explains the big problem with communication between insurance companies and their clients and cites some ways to solve it. She shares why Nigerians don’t see the value of having insurance and describes the difference between the Kenyan and Nigerian insurance markets. Folumy also discusses how Nigeria coped with the pandemic of 2020.
"Insurance is one of the ways Nigeria can move from a non-business sector to an all-business sector." - Olorunmola Fiyinfoluwa (Folumy) Victoria
Today on Spot On Insurance:
- Folumy's life in Nigeria and why she pursued a career in insurance.
- How Folumy overcame the hurdles of finding success in Nigeria.
- Why Folumy didn't consider a career in banking.
- Addressing the insurance communication gap for their Nigerian clients.
- Why Nigerians don't believe in the value of having insurance.
- Comparing the insurance market in Kenya and Nigeria.
- What the future holds for the insurance industry in the African continent.
- How the pandemic affected Nigeria in 2020 and how they responded to it.
- How movies helped uplift her spirit throughout the last 12 months.
Key Takeaways:
- Nigerians are beginning to invest in agriculture as an alternative to the oil sector.
- About 82-million Nigerians are living below the poverty line.
Connect with Olorunmola Fiyinfoluwa (Folumy) Victoria:
- Tangerine Life
- InsurTech Business Series Podcast
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Eric Geier is the CEO of Puresurance, a health and retirement solutions company that focuses on small and medium-sized business owners. Their products can help clients manage their health insurance and retirement plans with their proven strategies and mentorship. Eric is an expert in life insurance when used as a retirement vehicle and provides customized health coverage solutions. He also has over 20 years of experience working in the financial industry and earned his BBA in Accounting at Hofstra University.
Eric joins us to share how you can make the best out of your retirement. He describes what motivated him to have a career in the financial industry and why they started Puresurance. He explains how medical services aren’t costly and why hospitals can lower the cost if you’re self-insured. He discusses why life insurance is of utmost importance when it comes to any retirement strategy and shares the many retirement issues he helps their clients address. Eric also explains how a person in their 20’s can prepare for their retirement even if they’re earning a modest salary and describes how he has kept a positive mindset despite the troubling times.
"The biggest threat to anybody's retirement is outliving their money." - Eric Geier
Today on Spot On Insurance:
- How compound interest works for retirement.
- When Eric worked in Hong Kong and what his experience was like.
- Eric's thoughts on what a suitable insurance product should have.
- How to know the actual price of healthcare.
- Why medical services typically don't cost a lot of money.
- Why life insurance is critical in any successful retirement strategy.
- The questions Eric asks clients when planning their retirement.
- What mortality credits are and why only insurance has it.
- The pain points many of Eric's clients want to address.
- Eric's advice to those who are fresh out of college and want to plan their retirement.
- How Eric has kept a positive mindset over the past 12 months.
Key Takeaways:
- 67% of the population doesn't even have a retirement plan.
- Medical services can be much more affordable if you declare yourself as self-insured.
Resources Mentioned:
- MDsave
Connect with Eric Geier:
- Puresurance
- Calendly link
- Email: eric@puresurance.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Joseph Petrelli is the President of Demotech, an Ohio-based financial analysis firm. He is credited for the development of Financial Stability Ratings (FSR). FSRs are one of the leading indicators when considering the financial stability of Title underwriters and Property & Casualty insurers. Demotech’s mission is to help level the playing field for insurance companies currently unrated or under-rated. Joe also has over 40 years of actuarial and financial analysis experience, particularly in product development, pricing, and loss cost filings.
Joe joins us today to share how Demotech works to help provide accurate insurance ratings through FSRs. He discusses the reason he wanted a degree in Actuarial Sciences and the challenges he faced early in his career. He explains why he developed FSRs and how they accurately size up any insurance company in the market. He shares how he and his team revived the Florida market and how much of the market they have in control today. He describes how Demotech’s classifications system works and the factors they consider. Joe also discusses how COVID-19 disrupted the traditional office setting and its ergonomics.
"New tools allow us to have smarter decisions rather than just routine transactions." - Joseph Petrelli
Today on Spot On Insurance:
- Why Joe obtained a degree in Actuarial Sciences.
- The challenges Joe encountered early in his career.
- What led Joe to create the Financial Stability Ratings?
- Fannie Mae and Freddie Mac, and how they worked with these mortgage companies.
- The gaps in the industry Demotech intended to fill.
- How Joe and his team resurrected the Florida market.
- Why Florida struggled to find a rating agency in the 90's.
- How their company's classifications system works.
- How Joe prepares for the next generation.
- Why Data Scientists are pushing Actuaries to become more innovative.
- How Joe expects various industries to adapt to the New Normal.
Key Takeaways:
- You have to have, as an actuary, 30 hours a year of continuing education.
- In insurance ratings, the business model is a better metric than financial signs.
- 2020 has changed the way any industry looks at office spaces forever.
Connect with Joseph Petrelli:
- Demotech
- Phone: 354-7207
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Nikolaus Suhr is the CEO and Co-Founder of KASKO, an insurtech company that offers an agile insurance product powered by API. They promise to make sure your IT empowers you and your business instead of being the one thing that holds your systems setup back. He comes from a family of insurers, allowing him to have a heart for the insurance industry from a young age. Nikolaus also has over a decade of experience working with insurance brokers and has served in critical roles in business development, risk management, and startup consultation.
Nikolaus joins us to discuss how KASKO can help companies scale fast through insurance service optimization. He discusses what inspired him to join the insurance industry, his family history of insurers, and why he decided to start KASKO. He describes why insurance is still primarily a sales game despite the number of new technologies and tools currently available and explains why partnering with other companies fast-tracked their company growth. He also shares the niche they want to fill in the industry and what KASKO offers regarding on-time insurance delivery.
"Insurance just works slightly differently than any other financial product. It's about trust and appreciating how hard people had to work to gain that trust." - Nikolaus Suhr
Today on Spot On Insurance:
- How young Nick was when his entrepreneurial spirit started.
- The reservations he had when he was being groomed to run their family business.
- The strategies he developed to get where he is today.
- Why insurtech is mostly about sales and knocking on doors.
- Why Nick decided to start KASKO.
- Why partnering with insurers allowed their company to grow.
- How a company can customize their services without being niche.
- Why it was brilliant for their company to attract US clients who want to do business in Europe.
- What's in store for KASKO in the near future?
Key Takeaways:
- The cost of delivering insurance at the right point in time is very high.
- There's so much tech out there, but it's about getting the word out and making those partnerships.
Connect with Nikolaus Suhr:
- KASKO
- Email: suhr@kasko.io
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Mike Strakhov is the Senior Vice President at Live Oak Bank, a digital, cloud-based bank with no ATMs, branches, or tellers. They are a lending company that aims to be America’s small business bank. He co-founded the insurance lending vertical, including building the team and developing strategies for short and long-term goals. As SVP, Mike is responsible for developing referral partnerships with agency networks, consultants, and various insurance carriers across the US.
Mike joins us today to discuss the surge of mergers and acquisitions in 2021 and what he expects to see in 2022. He shares his career experiences before working with Live Oak Bank and the time he was part of the insurance industry. He explains how the pandemic didn’t stop the mergers and acquisitions transactions from happening in record numbers and describes why he and his company are bullish on agency acquisitions today and for the foreseeable future. Mike also shares the steps you should take before deciding to sell an agency and the taxes and fees in-between.
"Debt and taxes are part of the whole she-bang, so you're going to pay it one way or the other." - Mike Strakhov
Today on Spot On Insurance:
- Mike's career and the different hats he's worn over the years.
- Why the insurance industry is so resilient.
- Mike's thoughts on 2020 and how the year still had record-breaking mergers and acquisitions.
- How the Biden administration will change the current market climate.
- The acquisition status of the startup industry.
- How will the surge of mergers and acquisitions affect the industry?
- What Mike expects 2021 to be and what the future holds.
- Why Mike is bullish on agency acquisitions.
- The steps you need to take when selling an agency.
- Why 2021 is a good time for agencies in terms of bank lending.
Key Takeaways:
- It takes several years to get your financials in order.
- Taxes will always be part of the equation, even in retirement.
- In selling agencies, having everything in order is impactful on the price you're going to get paid.
Connect with Mike Strakhov:
- Live Oak Bank
- Mike Strakhov on LinkedIn
- Email: michael.strakhov@liveoak.bank
- Phone: (614) 361-9482
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Jeremy Streten is a coach, lawyer, mastermind facilitator, and author of The Business Legal Lifecycle: How to Successfully Navigate Your Way from Start Up to Success, a book that discusses all the possible things that can go wrong in your business journey and how you can prevent them. He is also the CEO of Business Legal Lifecycle, a company that offers SaaS products that business owners can use to identify risks and blindspots in their business. The mission of Jeremy’s company is to help business owners learn the legal health of their business.
Jeremy joins us to share how Business Legal Lifecycle helps business owners find legal blindspots in their companies and provide solutions to fix them. He discusses Australia's current state and why he believes life is pretty much back to normal, with a few exceptions. He explains the risks many business owners incur in their professional journey and highlights some of the things they can do to solve them or prepare for them. He describes the importance of estate planning and the best time to talk about it. Jeremy also explains why he’s opposed to the industry creating programs and services that can confuse clients and end up driving them away.
"The number one objection people have is they don't understand. If they don't understand, they disengage." - Jeremy Streten
Today on Spot On Insurance:
- How Australia combatted the pandemic and what it's like today.
- Why Jeremy was interested in tech early in his career.
- What made Jeremy start their company and how they can help reduce business risk.
- Their target market and which businesses benefit the most.
- Jeremy's thoughts on how technical terms serve to confuse potential clients.
- How business professionals can separate simplicity from stupidity.
- What readers can expect from Jeremy's book.
- The best time business owners should talk about estate planning.
- What is it like in Australia in terms of business conferences and meet-ups?
- Jeremy's advice for newcomers and how they can improve the industry.
Key Takeaways:
- Estate planning should be discussed any time.
- Just because a process uses simple terms doesn’t mean it’s stupid.
Connect with Jeremy Streten:
- Business Legal Lifecycle
- Book: The Business Legal Lifecycle: How to Successfully Navigate Your Way from Start Up to Success
- Jeremy Streten on LinkedIn
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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John Warrillow is an entrepreneur, best-selling author, and President of The Value Builder System, a solutions platform that helps small business owners boost their company's value. Their platform incorporates various tools to measure, analyze, and interpret data to help improve business value by as much as 71%. He is the man behind the bestselling books Built to Sell: Creating a Business That Can Thrive Without You and The Art of Selling Your Business: Winning Strategies & Secret Hacks for Exiting on Top. John is also the host of the Built to Sell Radio, a weekly podcast for entrepreneurs who want to sell their business.
John joins us to share how his entrepreneurial drive started as a kid selling drinks in school. He discusses some of the motivators that ultimately led him down the path of entrepreneurship. He explains why he wrote books focused heavily on selling businesses and why they both virtually revolved around the concept of recurring revenue. He describes some of the reasons why this year is the best time to sell a business, especially if that business was running throughout 2020 and discusses why he believes new entrepreneurs should chase partnerships over sole ownership. John also explains why trying to sell your business at the very top is a double-edged sword and shares a real-life story of what happens when it goes wrong.
"The best time to sell is when somebody’s buying.” - John Warrillow
Today on Spot On Insurance:
- How John's entrepreneurial spirit started when he was young.
- What recurring revenue is and how it affects company value.
- What inspired John to write his books around recurring revenue.
- How entrepreneurs can sell their businesses like the big players.
- When should business owners consider selling their business?
- Why businesses that operated during the pandemic should consider selling now.
- What is pre-diligence in entrepreneurship?
- Why it's not advisable to always ride the company over the top before you sell.
- Partnerships and why John thinks entrepreneurs should do them.
- Why we need to be very cautious of when an acquirer can talk to our employees.
- What is Majority Recapitalization and what happens when it goes wrong for the owner?
Key Takeaways:
- Exiting a business can both be a fairytale story and a story of enduring hardships.
- Most owners are going to have to stay on after selling to reach their earn-out.
- There's no effort without error and shortcomings.
- When your competitors find out your employees are looking elsewhere, it undermines your leverage.
Resources Mentioned:
- Care.com
Connect with John Warrillow:
- Built To Sell
- The Value Builder System
- Built to Sell Radio
- The Art of Selling Your Business: Winning Strategies & Secret Hacks for Exiting on Top
- Built to Sell: Creating a Business That Can Thrive Without You
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Ryan Stewman is the CEO of Hardcore Closer, a company that helps elite salespeople to elevate their sales game through new technologies and automated sales processes. He is the Founder of the Break Free Academy, a network of entrepreneurs and business owners who want to become elite salespeople in their respective industries. He is a contributing author to media outlets such as Forbes, Entrepreneur, and Huffington Post and the bestselling author of multiple books, including GCode: How to Stay Super Focused in a World Full of Distractions and Hardcore Closer, a book that describes the many setbacks Ryan experienced before finally stumbling on the path that led to his success. Ryan is also the host of The Hardcore Closer Podcast, one of the world’s longest-running sales podcasts.
Ryan joins us today to share his story of growing up in an abusive home and serving time in prison to becoming a motivational speaker, business owner, and 4-time bestselling author. He highlights the lessons he has learned about business while working at a carwash in his youth, how his career pivoted from washing cars to working in the banking industry, and how serving jail time has affected his personal and professional life. We discuss why many salespeople have the wrong mindset about cold-calling and what they should do to become more efficient and effective. We also discuss Ryan’s inspiration to become a motivational speaker, his Hardcore Closer Program, and how his company helps sales professionals become the best-of-the-best in their industry.
"Most people have mentally tricked themselves into sticking to what works. It’s effective… but it’s not efficient." - Ryan Stewman
Today on Spot On Insurance:
- Ryan's work ethic and how it all started in a carwash.
- What Ryan learned during his time in prison.
- How Ryan’s career shifted from washing cars to working in the banking industry.
- Ryan's mindset after serving time in prison.
- How Ryan found the inspiration to become a motivational speaker.
- Ryan's opinions on cold calls and their efficacy and efficiency.
- The struggle between power and force regarding cold-call sales
- What professionals can learn from Ryan's Hardcore Closer Program.
- The goal of Ryan’s company and how they empower their clients to be better leaders.
- Exercises you can do to envision an elite version of yourself.
- Ryan's daily routine and how it can help you to be more focused.
- What their slogan "Do the work despite” means.
Key Takeaways:
- Do the work every day that can bring you success long-term.
- Don’t focus on how fast you can win big, but how you can win every day.
Resources Mentioned:
- The Law of Success In Sixteen Lessons by Napoleon Hill
Connect with Ryan Stewman:
- Hardcore Closer
- Break Free Academy
- GCode
- Hardcore Closer book
- Podcast
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Nate Reznicek is the Head of US Distribution at International Re Ltd, an insurance and reinsurance underwriting agency based in London. The company specializes in captive insurance, what Nate describes as a niche inside of a niche. As Head of US Distribution, Nate’s responsibility is spearheading the company’s US marketing strategies and developing sustainable enterprise risk management strategies. He is also part of the Captive Insurance Companies Association Programming Committee.
Nate joins us to discuss what captive insurance is, the risks they cover, and the market they’re after. He shares how he joined the captive insurance industry and what I-Re does for its clients. He describes the different types of captive insurance and the positions you have to fill if you want to start your own captive insurance company. Nate also shares what kept him going despite the economic downturn of 2020.
"The captive insurance space is a very small one. It's a niche inside of a niche." - Nate Reznicek
Today on Spot On Insurance:
- How Nate found himself working for a captives practice.
- Why captive insurance is a niche inside of a niche.
- What is a captive insurance company?
- The different types of captive insurance.
- The roles you need to fill if you want to start a captive insurance company.
- What does captive insurance cover?
- What I-RE does and how they are different from other captive insurance companies.
Key Takeaways:
- Insurance is not regulated at a federal level, but at a state level.
- The most common use of Captive insurance outside of your common P&C policies is going to be in your employer-sponsored healthcare plan.
- Most carriers don't make money on their underwriting profit.
Connect with Nate Reznicek:
- International Re
- Email: nate@i-re.insure
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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SOI203 - Healing American Healthcare
Edward Eichhorn is the President of Medilink Consulting Group, a company that provides sales, strategic planning, and marketing advice for medical service and imaging businesses all over the country. Their company spearheaded the Healing American Healthcare Coalition to make sure healthcare professionals are always informed with the business and research side of the COVID Pandemic. Edward is also an author and the man behind the book, Healing American Healthcare, where he talks about how the country can transition to a universal healthcare system while also reducing national healthcare costs.
Edward joins us to discuss the current healthcare crisis in the US and his universal healthcare proposal that has virtually no drawbacks. He shares stats and facts regarding healthcare in other countries and how the US compares. He explains why Bernie Sanders’ Medicare For All Bill could be bad for healthcare professionals and shares when he thinks the world will go back to a pre-COVID state. Edward also describes what readers can expect from reading his book and how it can help their healthcare finances.
"We have to rebalance healthcare once we get past this terrible pandemic.” - Edward Eichhorn
Today on Spot On Insurance:
- Edward's career path and why he joined the healthcare industry.
- How the US compares to other countries in terms of its healthcare systems.
- The ramifications of not having a universal healthcare system.
- Medical expenses and how it affects the number of people who declare bankruptcy.
- What it means to win the healthcare lottery.
- Healthcare options for the United States.
- Why Medicare For All would be detrimental to healthcare workers.
- How Americans truly feel about changing health insurance models.
- Why the current system is difficult to fix.
- How the pandemic affected the healthcare industry.
- What readers can expect from his book and how it can help their healthcare finances.
- What the country can do to prepare against another pandemic.
- When Edward believes the world will go back to a pre-COVID normal.
- Which of the COVID vaccines currently available should people take?
Key Takeaways:
- The United States is the only one among developed nations that doesn't have a universal healthcare system.
- If we could harness healthcare and make it a right instead of a privilege, it would also improve our nation's economic activity.
- When competition gets to a point of oligopoly, then the opportunity to compete on price goes away.
Connect with Ed Eichhorn:
- Medilink Consulting Group
- Email 1: ed@medilinkgroup.com
- Email 2: ed.eichhorn@medilinkgroup.com
- Healing American Healthcare: A Plan to Provide Quality Care for All, While Saving $1 Trillion a Year
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Troy Korsgaden is a sought-after financial services and insurance consultant. His company, Korsgaden International, specializes in agency building, global marketing, technology strategies, and distribution for some of the world’s largest financial services companies and insurance carriers. Troy is also the author of many books, with the most recent one titled Inflection Point, where he guides business owners on how to adapt their insurance or financial services agencies in an ever-changing market and technological economy.
Troy joins us to discuss how the pandemic has exposed old business models and how creating new business models let small, forward-thinking businesses thrive. He discusses how the industry has been moving away from the customer-centric approach, and how 2020 brought them all back to this core principle. He explains how companies can flaunt their value over those who offer the cheapest prices. Troy also shares why the best companies are trying to innovate on a daily basis and why it’s important for businesses to frequently re-tool the services they offer.
"You need to meet customers where they want to connect - not where you want them to connect.” - Troy Korsgaden
Today on Spot On Insurance:
- The big changes that happened in the industry since 2020.
- Why businesses need to ditch the "old" business model to move forward.
- How companies determine where they can get in touch with their clients.
- New technologies and knowing what and how to upgrade.
- Making clients see that your company offers more value than your competition.
- How frequently should we re-tool our services?
- Deep diving into Open Platform Solutions.
- Why customers aren't always looking for the cheapest price.
- What it means to offer unrivaled service.
- Why you don't want ‘generalist’ employees.
- Constant re-tooling and how it will boost your market value.
Key Takeaways:
- You have to give great service, great advice, and then you earn the right to offer solutions.
- Customer-First is only true if you go to where the customers go, and not be a company that tells them what to do and how to best communicate with you.
- Any company can have great first impressions, but only few will make it last.
Resources Mentioned:
- Spot On Insurance 159: Get The Right Customers In Your Chair
Connect with Troy Korsgaden:
- Korsgaden International
- Email:troy@korsgaden.com
- Book: Inflection Point: Redefining Your Role In The Insurance And Financial Services Industry When The Existing Model No Longer Works
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Manuel San Miguel is the Co-Founder and CEO of Ignatica, a core insurance platform that aims to help insurers grow their markets, boost profits, and digitally serve consumers. Their goal is to help their clients penetrate new markets in a more seamless manner - despite different or heavy regulatory systems. As CEO, Manuel is skilled in software development, digital strategy, and risk management. Before founding Ignatica in January 2019, he worked with Manulife for over nine years as Chief of Technology, Architecture, and Digital Engineering.
Manuel joins us to share how Ignatica seeks to address the problem of digital transition in the industry. He discusses how their company makes use of AI and Blockchain to create a fully digitized insurance platform. He describes how his passion for martial arts influenced the path he took professionally and explains what digital transformation really means for a consumer. Manuel also shares why legacy thinking should be obsoleted in an ever-changing market and his insight on what insurance professionals should learn from the 2020 coronavirus pandemic.
"Life has a way of happening and doors have a way of opening." - Manuel San Miguel
Today on Spot On Insurance:
- The goal of Ignatica and the gaps it seeks to fill in the financial industry.
- How they incorporate AI and Blockchain technology.
- Why Manuel set his sights on the Asian market.
- How martial arts influenced Manuel's professional career.
- What Manuel noticed with distribution platforms and digitization.
- The definition of digital transformation from a consumer perspective.
- What 2020 has taught the insurance industry.
- Why legacy thinking is no longer applicable today.
- The difference between the way the Asian and US markets are handling digitization.
Key Takeaways:
- ‘Digital’ is not just “I was able to do something online.”
- Many startups in developing countries have great ideas, but are hampered by overhead cost.
- Relying on legacy systems should no longer be a focus in a world where disruptions can happen at any moment.
Connect with Manuel San Miguel:
- Ignatica
- Email: info@ignatica.io
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Tim Christ is the Vice President of Growth at Claimatic, a SaaS insurance claims app that streamlines claims distribution in real-time through proprietary algorithms. Claimatic provides claim assignment services, end-user empowered rules optimization, advanced mapping, and workforce management among other services. He has over 20 years of experience in executive leadership, management consulting, and business development roles. Tim is also the author of Outgrowing QuickBooks, where he discusses how business owners can redesign and re-engineer their small business into a medium-sized business.
Tim joins us to discuss the problems Claimatic intends to solve with their advanced algorithms and data-driven streamlining platform. He describes how a small business can scale without losing efficiency or money. He explains the difference in management between a small and medium-sized company. Tim also shares how the pandemic of 2020 has altered the way claims are processed and discusses the risks of relying on spreadsheets to track your finances.
"Your business is part of the reflection of what you feel is your self-worth." - Tim Christ
Today on Spot On Insurance:
- Tim's opinions on the average American's financial status.
- The problems Claimatic wants to solve and how they plan to solve them.
- When you should let your team manage your business for you.
- Why we should learn how to manage our pennies.
- How to avoid business inefficiency as you scale.
- What can happen to your business if you don't have a strategic plan.
- Internal controls and why small businesses don't have them.
- How hiring a CFO can benefit a growing business.
- Why Tim doesn't believe the claims industry has a talent gap.
- How the pandemic has changed the process for claims.
- Solving the reassignments problem and its immediate effects on a business' finances.
- Why businesses should stop relying on spreadsheets.
Key Takeaways:
- 2%-7% of a business's money is often wasted on process inefficiencies annually.
- 90% of small businesses don't have a strategic plan annually that's written on paper.
Resources Mentioned:
- The Great Game of Business, Expanded and Updated: The Only Sensible Way to Run a Company
Connect with Tim Christ:
- Claimatic
- Email: tchrist@claimatic.com
- Phone: (210) 632-4571
- Outgrowing QuickBooks: Engineering Real Profit (ERP) in Companies with $10 Million-$50 Million Annual Revenue
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Will Marzolf is the Founder of Grafico Analytics, an insurtech company that aims to innovate the way insurance companies visualize, communicate, and compare their various insurance and reinsurance programs. They created a restructuring platform that allows clients to visualize what their insurance product looks like to understand them better. Will’s entrepreneurial spirit also led him to complete more than 30 different courses such as behavioral finance, business statistics, algorithm development, and corporate finance.
Will joins us to share why the industry needs to revamp the way it presents insurance products to clients and how Grafico can help them do it seamlessly and instantly. He describes what it was like starting this company amidst the pandemic and the tools he used to get his company going. He explains why he pursued a career in reinsurance despite it being such a niche market, how clients can use their platform, and what they can expect to find. Will also shares what keeps him motivated despite the tumultuous time we’re currently experiencing.
"We can use financial products to save our society or protect it in the event that Mother Nature is causing a catastrophic event to occur." - Will Marzolf
Today on Spot On Insurance:
- Who Will Marzolf is and why he chose a career in reinsurance.
- How the pandemic may alter the way insurance covers financial risk.
- The terms and lingo used in reinsurance compared to other industries.
- Why Will created Grafico and the problems they want to address.
- How Grafico helps visualize data and insurance products.
- Future projects to watch for.
- Why they suggest taking their training services to use their platform.
- Languages and computer languages - and how to be good in both.
- What it was like starting a company in the middle of a pandemic.
- What keeps Will motivated during these hard times?
Key Takeaways:
- Ease of use is one of the most important factors when it comes to online platforms.
- Insurance companies are now looking into coverage for events like a pandemic.
Connect with Will Marzolf:
- Grafico Analytics
- Company Email: contact@graficoanalytics.com
- Personal Email: will.marzolf@graficoanalytics.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Natalie Siston is an inspirational speaker, leadership coach, and author of Let Her Out, a book that introduces the story of her life, journey, and the moments that inspired her to become a coach. Natalie’s unique style of coaching stems from her experience growing up in a town of 600 people, where everyone knew each other by name and helped each other in life. When she’s not coaching, she also teaches and mentors at The Ohio State University, her two-time alma mater.
Natalie joins us to discuss her coaching experience and what sets her apart from other coaches in the industry. She describes the events that led her to insurance and what it was like quitting a stable job in the middle of a pandemic to focus on entrepreneurship. She explains what readers can expect from her book and its contents. Natalie also shares advice for those who want to test the deep waters of entrepreneurship in 2021.
"Who quits her job in the middle of a pandemic? Someone whose dreams are bigger than her fears." - Natalie Siston
Today on Spot On Insurance:
- Natalie's childhood dreams and why she wanted to be in politics.
- What inspired Natalie to join the insurance industry?
- How Natalie decided to leave her 9-5 to become an entrepreneur in 2020.
- The classes aspiring entrepreneurs can take now to help propel their career in 2021.
- Defining your role in the company and the role for yourself.
- What red barns symbolize, her memories of them, and why she used them in her book.
- What she offers clients as a coach and what readers can learn from her book.
- How Natalie presented her own keynote and why she turned it into a book.
Key Takeaways:
- Coaches need coaches too.
- Even a small role in a company can have a big impact on its growth.
Connect with Natalie Siston:
- Small Town Leadership
- Let Her Out
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Adedamola “Damola” Oloko is the co-host of the InsurTech Business Series podcast, the leading insurance podcast in Nigeria where they have in-depth discussion and reviews about trends, opportunities, and industry challenges. He holds a Masters degree in Mass Communications with over five years of sales experience in the insurance industry. Damola’s passion for tech and insurance has made him develop an innovative mindset that ultimately led to him starting the podcast following insurtech trends.
Damola joins us to discuss the potential market in Africa and how large companies can penetrate their economy. He describes what a typical Millennial African’s life is like and their mindset towards adaptability and technology. He shares where he discovered his passion to work in insurance and how Spot On Insurance inspired him to start his own podcast. He explains what audiences can expect from their upcoming InsurTech Business Series event. Damola also describes how he manages to see the silver linings despite all that happened this year.
“Insurance should be taught as a subject, not as a topic under another subject.” - Damola Oloko
Today on Spot On Insurance:
- How Damola learned about the Spot on Insurance podcast.
- What it's like being a Millennial in Africa.
- How Damola found himself working in the insurance industry.
- The insurtech trends in the African market.
- How companies can penetrate the African market better.
- How the typical African looks at retirement and insurance.
- Why Damola started his insurtech podcast and the knowledge gap he wants to fill.
- What to expect from the Insurtech Business Series conference.
- How Damola has been keeping himself optimistic in 2020.
Key Takeaways:
- Generally, the penetration of insurance in Africa is just 3%.
- Companies should engage in conversations with those who follow them.
- Succession planning is still too early for the African market.
Connect with Damola Oloko:
- InsurTech Business Series podcast
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Brian Ahearn is a coach, consultant, keynote speaker, and the Chief Influence Officer of InfluencePEOPLE, a company that teaches businesses and corporate executives how to boost sales through the art and science of persuasion. He is one of only 20 people all over the world who holds the prestigious Cialdini Method Certified Trainer (CMCT) designation. Brian is also the author of Influence PEOPLE: Powerful Everyday Opportunities to Persuade that are Lasting and Ethical, a book that helps readers understand how to ethically influence others.
Brian joins us today to discuss the art and science of persuasion, his definition of ethical influence, and how to relate to your customers better. He shares his experience with traveling across the US during his childhood, his passion for fitness, and how he ultimately realized he fulfilled his youthful dreams of owning his own gym. He explains why many people view the concept of “influencing others’ as a negative connotation and describes the key differences between influencing and manipulating. Brian also explains how he has adjusted his business strategy and methods to be as virtual as possible, while also improving the learning experience for his audience.
"Selling is the process of persuading a person." - Brian Ahearn
Today on Spot On Insurance:
- Defining what ethical influence is and how to make it effective.
- Why "influencing others" has gathered a negative connotation.
- The difference between influencing and manipulating.
- The people who inspired Brian to drive his career forward.
- How seeing a simple sticky note can make you want to reciprocate quickly.
- How Brian adjusted his business to the pandemic.
- Brian's advice on how to get people to like you and say yes to you.
- What reciprocity is and how it changes depending on the positivity or negativity of the response.
- How Brian prepares for 2021 and what he learned in 2020.
Key Takeaways:
- Get a plan, work it consistently, and good things happen.
- Social media should be social and treated as a way to have a little bit of back and forth.
- Building rapport is still the best way to convince someone to say yes to your proposal.
Connect with Brian Ahearn:
- InfluencePEOPLE
- Influence PEOPLE: Powerful Everyday Opportunities to Persuade that are Lasting and Ethical
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Wade Millward is the Founder of rikor, a next-generation digital insurtech company that integrates insurance requirements directly to their platform to offer real-time insurance policy monitoring services. His goal in founding the company was to simply reduce the risk for franchisors through instant insurance verification. He believes certificates of insurance are risky, can be easily manipulated, and offer zero security for the franchisor, and decided to design a system that helps bypass all of these problems. Wade also represents Millward Agency, an insurance company started by his grandfather and is currently led by his father.
Wade joins us today to share how rikor helps mitigate risks with the use of real-time technology and other innovations. He shares his experience with serving in an LDS mission, the lessons he learned from that experience, and the idea that led to founding his company. He discusses the security problems associated with certificates of insurance and why he believes these certificates are practically useless. He explains why he started the company amidst the pandemic and how you can be a good leader in a tumultuous time. Wade also describes his thoughts on technology in the industry, especially with how it manages risk.
"One of the most important things in leading a team is empowering people to make mistakes for the pursuit of innovation." - Wade Millward
Today on Spot On Insurance:
- Wade’s time serving in an LDS mission and the culture and lessons he learned.
- Why we constantly compare ourselves to other people.
- How Wade found himself joining the insurance industry.
- Why Wade believes launching a business in the middle of a pandemic was the best decision he has made.
- How to focus on long term objectives over short term distractions.
- How rikor helps reassure procedural transparency.
- Why the certificate of insurance is a false sense of security.
- Wade's thoughts on technology and how it's changing the way we finance and manage risk.
- What it means to think beyond the box and how we can connect different boxes.
- How to lead a team going into 2021.
Key Takeaways:
- The hardest thing about starting a company is making a name.
- Don’t let a pandemic stop you from making your dreams a reality.
- When we put people in boxes, they stop thinking.
Connect with Wade Millward:
- rikor
- Email: wade@rikor.io
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Alan Ringvald is the CEO of Relativity6, a machine learning platform that lets agencies predict customer behavior accurately. They are also an insurtech company that believes agencies can never be replaced by chatbots. Alan founded the company based on his and his co-founders' graduate thesis research at MIT. Their goal is to provide clients with a comprehensive AI-backed system that lets companies know what their customers need from them.
Alan joins us to share the idea that Relativity6 represents and what motivated him to pursue this type of business. He discusses the power of AI, the current applications of machine learning, and why some companies can’t fit AI learning systems into their business. He explains the reasons he named it Relativity6 and shares his entrepreneurial journey and how MIT helped him get a good start on his business. Alan also describes the technologies that can shake up the insurance industry and how augmented reality and VR can impact the podcasting industry.
"If you’re not really understanding a lot about your customer, you’ll never be able to grow that customer.." - Alan Ringvald
Today on Spot On Insurance:
- Alan's connection with the New England Patriots.
- Being the son of immigrants and growing up not having English as the first language.
- The company Alan started in college and what inspired him.
- The name behind Relativity 6 and the services they offer.
- How having an MIT email helped him gather data for his company.
- Alan's transition from retail to insurance.
- Why machine learning doesn't work with every company.
- The kind of technology that can change the industry forever.
- How augmented reality and virtual reality can change how virtual conferences are set up.
Key Takeaways:
- Machine learning gets better over time. It calibrates from its mistakes, making it a self-improving system.
- AR and VR can let people do their virtual conferences anywhere in the world or outside of it.
Connect with Alan Ringvald:
- Relativity6
- Email: alan@relativity6.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Eric Ummel is the General Manager of Mobilitas Insurance, a recently launched insurance company that aims to adapt to the emerging needs of the ridesharing economy. Their services include an app that allows users to manage their policies easily, an emergency help hotline, as well as other unique privileges for their partners. As General Manager, Eric’s responsible for overseeing mutually beneficial partnerships that will translate to better overall coverage and customer service.
Eric joins us to share what Mobilitas Insurance represents, their products and services, and what sets them apart from traditional auto insurance companies. He describes how he joined the insurance industry and his role as General Manager. He explains how insurance is an industry that allows innovation to foster in any country. Eric also discusses what he expects to see in the industry in the near future.
"Insurance allows innovation in a broader economy." - Eric Ummel
Today on Spot On Insurance:
- Eric's thoughts on sports and the physical aspect of it.
- How Eric found his way in insurance and why he stayed.
- The problem their company solves and how they are different from their competition.
- How their company applies creativity and innovation in the insurance industry.
- What the true consumer expectation is with every insurance company.
- The business growth opportunities in the industry that Eric expects to see.
- How the driver insurance rates are determined.
Key Takeaways:
- Insurance promotes tech and service innovations.
- At the end of the day, consumers just want their claims as fast as possible.
- Insurance education can lead to safer driving habits.
Connect with Eric Ummel:
- Mobilitas Insurance
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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David Wald is the CEO and Co-Founder of Aclaimant, an InsurTech company that provides risk management services. They cater to commercial construction, industrial staffing, real estate, and hospitality industries. As CEO, his responsibilities include spearheading the company’s focus on emerging risks, especially those that came to light with the pandemic of 2020. David strives to fully digitize any company’s entire risk management processes, citing how many new businesses are tackling AI, machine learning, drones, and IOT.
David joins us to discuss how Aclaimant can help clients visualize their company’s risk management data into a single platform. He shares his journey to realizing he wanted to be his own boss and how he stumbled onto the world of insurance. He explains the risks that have revealed themselves in light of COVID-19 and how businesses are all trying to make their workplaces safe for their employees. David also describes what he thinks the future of risk management will be and what newcomers to the industry should do to find success.
"The more different ways you can help people think about the things they can do to get better without being overwhelming, the better off they’ll be." - David Wald
Today on Spot On Insurance:
- How David discovered he wanted to become an entrepreneur.
- How David stumbled into the insurance industry?
- The inspiration behind their company and the services they offer.
- What it means for a company to have a risk-intelligent culture.
- How David's business supports organizations in creating a risk-intelligent culture.
- The measures businesses can implement to gain their employees' trust to come back to work again.
- What the Covid-19 pandemic has taught businesses and employees.
- The future of risk management and how insurtech can innovate towards it.
Key Takeaways:
- Tools should be used to help make good things better instead of preventing bad things from getting worse.
- Data, as it relays more input and predictability, is the future of risk management.
Connect with David Wald:
- Aclaimant
- Email: david@aclaimant.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Kate Erickson is a Creator, Engager, and implementer at Entrepreneurs on Fire, an award-winning podcast that interviews inspiring entrepreneurs with a purpose of helping listeners along their entrepreneurial journey. Their company also offers podcasting services and provides online training courses as well as a few freebies to help new members get started. Kate also hosts the DItch Busy podcast, dedicated to helping listeners with their time management skills.
Kate joins us to discuss how exciting the podcast industry is and what newcomers should consider before getting started. She describes how she discovered a career as a podcast host and what it was like after she left the corporate world. She explains what her podcast setup looks like and why she barely changed it over the years in this industry. Kate also explains how their group, Podcasters Paradise, can help both seasoned and new podcasters grow their shows and shares with actionable tips for those who want to start their own podcast today.
"Starting a podcast does not have to be difficult." - Kate Erickson
Today on Spot On Insurance:
- The fears Kate had when leaving the corporate world to dive into entrepreneurship.
- Why podcasting is growing at such a rapid rate.
- Debunking the myths regarding starting a podcast.
- Why being consistent can translate to more clicks and listening time.
- Investing on a podcast and how you can generate revenue.
- What we enjoy about hosting a podcast.
- What people should expect if they want to start a podcast.
- Examples of unique podcasters.
- Podcasters Paradise and the support their company provides.
- Types of podcasts that may get a lot of attention today.
Key Takeaways:
- Starting your own podcast doesn’t have to involve spending money on high-end equipment.
- Being a niche show in this industry will separate you from those that try to be everything.
- Podcasting will introduce you to so many people which you can learn from beyond hosting podcasts.
Connect with Kate Erickson:
- Entrepreneurs on Fire
- Podcasters on Fire
- Ditch Busy podcast
- The Podcast Journal
- Free Podcast Course
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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JoAnn Del Gatto is the Vice President of Education and Compliance at The Surplus Lines Association of California, and Joyce King is ILSA’s Special Project Administrator. Joyce King has worked with ILSA since 2005, specializing in surplus lines tax filing requirements. JoAnn also serves as a Regulatory Risk and Compliance Consultant with Custom Compliance Solutions, a company based in the Greater New York City region, helping businesses with everything from reporting and filing services and identifying automation opportunities to developing best practices and mergers and acquisitions.
Joyce and JoAnn join us again today to share how you can properly vet your staff to determine if they are a good fit to be part of your organization. They discuss the questions you should ask during the interview, some of the notable traits to watch for on their first day, and how you can help them with the onboarding process. Joyce explains how ILSA handles the onboarding process and JoAnn discusses the importance of knowing the money expected by the applicant. They also share advice for professionals on what they can do to have an edge this year.
"Make sure you are on the same page with salary. If you're not, it's probably not going to be a good fit." - JoAnn Del Gatto
Today on Spot On Insurance:
- Why they incorporated a culture of fitness into their work setting.
- The projects ILSA has been busy with this year.
- Their qualifications and how they interview for staff and management positions.
- What JoAnn believes interviewers should have prepared before interviewing applicants.
- The onboarding process at ILSA and the ILSA Bootcamp.
- JoAnn's formula for bringing in a new member who may be familiar with how the company runs.
- Why note-taking can determine if a newcomer will last in the company.
- The growth programs companies can offer employees to retain them.
- Companies that are bolstering their focus on having a diverse organization.
- JoAnn’s and Joyce's advice for professionals who want to improve their skills before the year ends.
Key Takeaways:
- Networking will be the best thing you can do before the year ends.
- For the beginning of the year in surplus lines, get ready. Because that's when all those reports are due.
- For new hires, note-taking can be the difference between becoming a regular and being sent home.
Connect with Joyce King:
- ILSA
- Email: j.king@ilsainc.com
- (254) 729-6127
Connect with Jo Ann Del Gatto:
- The Surplus Line Association of California
- Email: jdelgatto@slacal.org
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Joyce King is ILSA’s Special Project Administrator, and Jo Ann Del Gatto is the Vice President of Education and Compliance at The Surplus Lines Association of California. Joyce has been with ILSA since 2005 and specializes in surplus lines tax filing requirements. Jo Ann is described as someone who is solutions-focused, an expert in strategic planning, and comes with plenty of experience in regulatory risks and compliance standards in both financial and insurance industries.
Joyce and Jo Ann join us today to discuss the guidelines businesses and agencies need to know before they consider an acquisition. They discuss the compliance and regulations that govern acquisitions as well as how penalties differ by state. They explain the importance of performing a compliance review before buying another agency, and why buyers will also inherit the administrative actions. Joyce and Jo Ann also share some of the more uplifting news they realized for the industry despite the effects of the COVID-19 pandemic.
"Every acquisition is a little bit different than the one before." - Jo Ann Del Gatto
Today on Spot On Insurance:
- Jo Ann's childhood and how we met her.
- Why Jo Ann believes the insurance industry is much more stable than other industries.
- What an affiliation is and how it relates to insurance producers.
- The complexities of acquisitions, licenses, and what you should consider as a business entity.
- Administrative actions and what the acquiring company should be watching for.
- How the compliance review program began for ILSA.
- What you can expect from our compliance courses.
- The most uplifting things to note in the industry in light of 2020.
Key Takeaways:
- It's imperative to have an acquisition checklist.
- Always perform a compliance review prior to putting your agency on the market and before buying another agency.
Connect with Joyce King:
- ILSA
- Email: j.king@ilsainc.com
- (254) 729-8002
Connect with Jo Ann Del Gatto:
- The Surplus Line Association of California
- Email: jdelgatto@slacal.org
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Lorene Phillips is the Founder of Clarendon Wallace, a professional coaching service equipped with services for soft skill training for high performing professionals. She is an experienced Executive Coach with a long history of working in the insurance industry in Bermuda, London, and the United States. On top of leadership coaching, their company also provides etiquette coaching as well as stress management. Lorene is also a finance professional, having earned a BA in Economics from Acadia University.
Lorene joins us to discuss the importance of having a strong network of mentors as well as peers who can learn from you. She shares the challenges she encountered on her way to the top and the way she perceived these hurdles. She explains the origin story of Clarendon Wallace and the gap they intend to fill in the corporate world. She discusses the idea of being a Learn-It-All as opposed to being a Know-It-All. Lorene also describes how newcomers in the industry can jumpstart their careers through mentorship and networking.
"Build your network. Build it strategically, build it wide, and build it deep." - Lorene Phillips
Today on Spot On Insurance:
- The three types of challenges Lorene dealt with in her professional career.
- How Lorene viewed the challenges she faced in the industry.
- The economical effects the pandemic has had on Bermuda.
- What inspired Lorene to join the insurance industry.
- Why Lorene started Clarendon Wallace and how she came up with the name.
- How their company's programs help those who feel burned out or stuck in their careers.
- Why coaching lets you talk about the important things in your life.
- What it means to be a learn-it-all and how it relates to networking.
- The importance of finding the right mentors and becoming a mentor to others.
Key Takeaways:
- Coaching allows you to put aside time to create a lifeline for yourself.
- Setting aside time for your personal growth is important to help you take your career a step further.
Connect with Lorene Phillips:
- Clarendon Wallace
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Anthony Boquet is the Vice President of Sales and Marketing at The American College, a nonprofit, accredited, and degree-granting institution that focuses on financial services education. He is also a published author and wrote Bloodline of Wisdom, An Awakening of a Modern Solutionary, a book that was born after he read 111 books in a year and is centered around the philosophy and wisdom of King Solomon. Anthony is experienced in Financial and Estate Planning, public speaking, and insurance-related court cases.
Anthony joins us today to discuss why he needed to read 111 books to write Bloodline of Wisdom, An Awakening of a Modern Solutionary and the lessons he wants to impart to readers. He shares how he initially didn’t like the business of insurance and the pivotal moment that changed his mind. He explains how the pandemic has affected The American College and why they were always prepared for virtual learning. Anthony also discusses how the pandemic has forced every industry to adapt and why insurance remains resilient.
"We have to be measured in how we respond, and - as people - we have the ability to do that." - Anthony Boquet
Today on Spot On Insurance:
- What it was like living in a small community in the western part of New Orleans.
- How Anthony found success in insurance and when he decided to work full-time.
- Why Anthony was reluctant to sell life insurance.
- How the pandemic changed the way Anthony teaches financial services.
- How The American College was prepared for the pandemic.
- The three responses to fear and how it applies to what's happening today.
- Why he wrote Bloodline of Wisdom, An Awakening of a Modern Solutionary and why he had to read 111 books to author it.
- Anthony's opinion on how this year's economic plunge compares to what happened ten years ago.
- Comparing life insurance trust to putting an item inside a briefcase.
- Anthony's winning strategy when it comes to achieving goals.
- The significance of the number 3 in religion and numerology.
Key Takeaways:
- The American spirit always finds a way to cope during times of distress.
- The insurance industry is one of the few industries that need to adapt with the times almost every year.
Connect with Anthony Boquet:
- The American College
- Modern Solutionary
- Bloodline of Wisdom, An Awakening of a Modern Solutionary
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Tripp Wagner is the Director of Fire Forensics at Jensen Hughes, a company that provides safety, security, and risk-based consulting and engineering. He has over 16 years of experience in explosion and fire forensic investigations. Some of the duties he’s had with the company include investigation and analysis to pinpoint origin and cause of fire accidents and the technicalities in-between. Before becoming part of Jensen Hughes, Tripp spent 11 years as Deputy Fire Marshall of the State of Delaware.
Tripp joins us today to discuss why he’s always wanted a career involving fire and where his passion for the industry came from. He explains what Jensen Hughes does and how they investigate scenes and provide evidence in court. He shares how the pandemic has affected their response rate, especially with regards to fire accidents that happen inside people’s homes or apartments. He describes how 3D printing and virtual visits enabled them to work better despite the pandemic. Tripp also describes the kind of tech he wants to see built specifically for forensic engineering.
"PPE in our world before COVID was designed to protect us. Now, we’re like everybody else: PPE is designed to protect each other." - Tripp Wagner
Today on Spot On Insurance:
- The services Tripp's company offers regarding insurance and what they cover.
- When Tripp found his passion involved the fire industry.
- Common compounds that cause explosions and fires and how they influenced usage regulations.
- Why it can be tricky to determine whether a fire claim is legitimate.
- How the pandemic has affected the way they conduct on-site work.
- The social changes Tripp expects to see post COVID-19.
- Court procedures now in the time of the pandemic.
- Why taking a video of a scene can be tricky, especially during a trial.
- How 3D scanners have aided forensic engineering investigations.
- The kind of tech Tripp wants to see in their industry in the next few years.
Key Takeaways:
- The most disruptive thing the pandemic has done is delay every process in any job.
- We will be more efficient as the year goes by, but we will not be going back to the days before.
Resources Mentioned:
- Matterport
Connect with Tripp Wagner:
- Jensen Hughes
- Email: twagner@jensenhughes.com
- Tripp Wagner on LinkedIn
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Caroline Thompson is the Head of Underwriting at Cowbell Cyber, an AI-powered cyber security insurance for small and medium businesses. The company provides 24/7 risk analysis, individual coverage level, and underwriting services done in minutes. Beyond her position at Cowbell Cyber, Caroline is also one of the main authors of their company’s blogs. She covers topics on new state laws and regulations and the different coverages their company offers.
Caroline joins us to share how Cowbell Cyber works to determine a company’s risk for cyber attacks before it even happens. She describes how she wound up working in New York and explains the concept of microinsurance. She explains why cybersecurity policies are almost constantly updating and how their company leverages the Dark Web for possible attacks and risks. She shares what Silent Cyber Risks and Standalone Insurance mean in the context of a cybersecurity risk management company. Caroline also discusses what their company often recommends to improve the cybersecurity of their clients.
"A lot of packaged policies end up covering a little bit of cyber - but not the entire extent." - Caroline Thompson
Today on Spot On Insurance:
- Caroline's work experience in New York and why she felt at home.
- What microinsurance is and why Caroline made a senior thesis based on that topic.
- The life decisions Caroline would have made differently in hindsight.
- The best time to step away from a good, but stressful job.
- The reason behind the company being named Cowbell.
- The newer types of cyber attacks and how the insurance industry keeps up.
- When insurers have to pay for claims for cyber losses for policies not designed for them.
- Defining Silent Cyber Risks and Standalone Insurance.
- Why companies should always opt for a standalone insurance for cyber security.
- The changes Caroline sees in the industry regarding how they guard against cyber risks.
- The security recommendations Caroline and their company provide to clients.
Key Takeaways:
- If it's been six months and you've been unhappy with whatever it is you're doing, it's time to change.
- A standalone insurance is ideal for covering all forms of cyber losses.
- Customers need standalone insurance in order to clarify everything.
Connect with Caroline Thompson:
- Cowbell Cyber
- Cowbell Cyber on LinkedIn
- Cowbell Cyber on Facebook
- Cowbell Cyber on Twitter
- Caroline Thompson on LinkedIn
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Margaret Spence is the Founder and CEO of C. Douglas & Associates, a risk management company that provides affordable injury management solutions and services to clients struggling with complex claims management. Some of the claims they handle include HR Compliance, Disability Management, Workers Compensation, and OSHA Compliance. Margaret is also the founder of The Employee to CEO Project, a coaching company that caters to women who want to advance their careers to C-Suite roles. Margaret is the author of the book Leadership Self-Transformation: 52 Career-Defining Questions Every High-Achieving Woman Must Answer, a career management model for women who aspire for higher positions in any industry.
Margaret joins us today to share what inspired her passion for risk management and her thoughts on the female role in today’s corporate America. She describes her childhood experience while growing up in the Bronx, what it was like to move to Jamaica as a high school student, and why she returned to the US for higher education. She describes what her day-to-day was like when she ran her company while still being an employee. Margaret also discusses what her company can do for organizations that have complex risk management problems and shares how the pandemic has made their job more relevant.
"Learn everything. Don't get caught up in the job title; get caught up in the skills." - Margaret Spence
Today on Spot On Insurance:
- Margaret's childhood experience in the Bronx and the different schools she went to.
- How the pandemic affected Margaret's personal life and her business.
- Margaret's time in Jamaica as a student and why she returned to the US.
- The various skills Margaret garnered throughout her career in the insurance industry.
- How Margaret started and ran her company while she was still employed.
- The wisdom Margaret received from working with different brokers.
- Winning clients by providing services in the form of professional advice.
- Mitigating the company's risks starting with the time someone is hired.
- The services and functions their company offers the industry.
- How they help hospital systems retool and reinvent their workers’ compensation program.
- How obese patients cause injuries to hospital workers within their stay.
- The difference between ‘the human’ and ‘the risk’ part of risk management.
- How the pandemic enabled C. Douglas & Associatesto promote TeleMed better.
Key Takeaways:
- You don’t always have to use data efficiently, but you always have to have it regardless.
- Don’t get blinded by what your job title says and focus more on what you can learn from your responsibilities.
- You have to look at both the human and risk parts of risk management.
Connect with Margaret Spence:
- C.Douglas & Associates
- WorkComp Seminars
- Employee To CEO Project
- Book: Leadership Self-Transformation: 52 Career-Defining Questions Every High-Achieving Woman Must Answer
- Book: From Workers' Comp Claimant to Valued Employee - Employers' Guide to Implementing a Proactive Return to Work Program
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Gregory Offner Jr. is a public speaker, career development coach, and expert content marketer. He regularly held public speaking and coaching events in front of professionals and students until the pandemic hit this year. He then took on the mantle of a Virtual Event Emcee, a position born out of the need to present to an audience in this time of uncertainty. Greg is also fond of music, citing his love for the piano and performing in front of an audience as a stepping stone to where he is today.
Greg joins us today to share how he turned his passion for music into a professional speaking career. He describes his childhood, how recession affected the way he was schooled, and how music kept him going as a professional. He discusses the time he was told he would lose his voice, the anxiety of losing one of his motivators in life, and his realization when he was unable to speak for long periods during treatment. He explains how disruptions happen and why companies are either disrupting or being disrupted. Greg also describes why companies, like people, are always changing and never in maintenance mode.
"You can either choose to disrupt or be disrupted, but there is no ‘maintain.’ No company is ever in maintenance mode." - Gregory Offner
Today on Spot On Insurance:
- Gregory’s passion for music.
- Greg's reflections on the moment the doctor told him he would lose his voice.
- Greg's life as a pianist and his experience performing in front of people.
- How Greg's predicament with his voice changed his perception of injury.
- The kind of excuse COVID-19 provided many company executives.
- The many services Greg offers companies to help them keep up with disruption.
- Why no company is ever in maintenance mode and how it relates to people.
- What sets disruption apart from everything else in business?
- Why every performance he does for companies is his favorite.
- Greg's advice for those who want to continuously change for the better.
Key Takeaways:
- COVID-19 was the perfect excuse for companies to get creative.
- If we build on our successes, we're going to be so much more successful than if we constantly spotlight our failures.
- In any industry, things happen because they have insurance.
Resources Mentioned:
- Tony Robbins
Connect with Gregory Offner:
- Official Website
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Matt Grossberg is Chief Executive Officer at Integrated Specialty Coverages (ISC). ISC is an insurance company that makes use of data & analytics to revolutionize the way complex programs are operated and underwritten. They specialize in Commercial Habitational Property & General Liability, construction, transportation, hospitality, and Miscellaneous E&O. Matt founded ISC in 2016 with the intent to bring strong management teams and profitable programs to their carrier and reinsurance partners. Before founding ISC, he was the former CEO of NII Brokerage from 2007 to 2011.
Matt joins us to describe his passion to work in the insurance industry and what inspired him to launch his company. He explains the need for insurance to adjust to an evolving market, especially with the new inventions and innovations reaching the market. He shares the challenges of being an entrepreneur in the insurance industry, how his father set the tone when he was still a young boy, and the lessons he’s learned about becoming a successful entrepreneur. Matt also discusses what young professionals should do if they want to be successful in any industry, particularly if they want to become tomorrow’s business leaders.
"The most important thing you can learn in life is you’re going to fail over and over again” - Matt Grossberg
Today on Spot On Insurance:
- The challenges Matt encountered because his father was part of the insurance industry.
- How Matt learned to become a successful entrepreneur.
- Why ILSA has a perfect business model.
- How Matt built their company around AI and the latest technology.
- The companies they worked with that helped their company scale faster.
- When you should branch out and diversify in your careers.
- Matt's thoughts on young professionals who want to become entrepreneurs.
- How the insurance industry will adjust to autonomous driving systems and vehicles.
- What makes the insurance industry a different beast compared to the consumer industry.
Key Takeaways:
- The insurance industry will eventually have to tackle the problems with regards to self-driving vehicles.
- Getting your company up to speed with the latest in AI and insurtech will guarantee longevity and scalability in the industry.
Connect with Matt Grossberg:
- Integrated Specialty Coverages
- Email: mattgrossberg@iscmga.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Dan Faggella is the CEO and Head of Research at Emerj, a tech company that utilizes artificial intelligence (AI) to help businesses and organizations develop winning strategies and profitable decisions. An avid fan of AI, he is known as someone who has an unbiased voice regarding the applications and implications of artificial intelligence algorithms in any industry and throughout our society. When he’s not running Emerj, Dan is hosting not one, but two podcasts: The AI in Business podcast and the AI in Financial Services podcast
Dan joins us to share how artificial intelligence can change the way leaders plan their marketing strategies and the AI services Emerj offers. He describes who he is and how he became interested in the business of AI. He explains the pros and cons of using AI-generated realities and simulations while citing real world examples. He discusses how the pandemic has affected their business and why it’s not all negative. Dan also describes the potential that AI can unlock for the insurance and healthcare industries.
"AI was a very personally curious initiative, but it turned out to be a business advantage for enterprises who want to allocate money intelligently." - Dan Faggella
Today on Spot On Insurance:
- What OECD is and its purpose.
- Why Dan ventured into the business of artificial intelligence.
- When AI became a popular topic in multiple industries.
- How Covid-19 has helped and challenged Dan’s business model.
- Deepfake technology, its dangers, and its business potential.
- Using AI to generate ideas for marketing, planning, and other aspects of business management.
- What we can expect once artificial intelligence becomes part of commercial media.
- How AI is currently being used in healthcare.
- Should patients fear how AI can be used to determine insurance coverage?
- What Emerj is, how it got started, and the solutions it provides to businesses and organizations.
- The potential benefits of artificial intelligence in the insurance industry.
- How to get the youth to be excited to work in insurance.
Key Takeaways:
- When deepfake tech becomes the norm, there's going to be a multi-front battle for the nature of reality.
- We’re still far from fearing AI manipulation of our insurance coverage.
- The future of marketing and politics will be spearheaded by AI-generated people who don’t exist.
Connect with Dan Faggella:
- Emerj
- AI in Business podcast
- AI in Financial Services podcast
- Lotus Eaters vs World Eaters blog
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Sarry Ibrahim is a financial consultant who helps high net-worth retirees, business owners, and real estate investors with wealth preservation and growth. He is also the founder of FIN Asset Protection, a financial services company that specializes in helping clients with asset protection and wealth preservation. Before starting his own company, Sarry represented large insurance companies such as Blue Cross Blue Shield and Humana.
Sarry joins us to describe what a ‘Bank on Yourself’ policy is and how it compares with other investment vehicles. He shares his experiences of working with large insurance companies, why he pursued a career in insurance, and what inspired him to start his own company. He explains why the youth should have a ‘Bank on Yourself’ policy and cites some of its key long-term financial benefits. Sarry also shares why people should think like banks when it comes to what they should do with their money.
"If you come across failure, that's a good sign. You're on track and you're heading in the right direction." - Sarry Ibrahim
Today on Spot On Insurance:
- Sarry’s childhood upbringing, his academic life, and his professional career.
- Why Sarry initially didn't like being part of the insurance industry.
- When Sarry realized he wanted to become an entrepreneur.
- The challenges Sarry faced when he was just starting out in insurance.
- What is a ‘Bank on Yourself’ policy?
- The difference between investing in the stock market and getting a ‘Bank on Yourself’ policy.
- The many benefits of investing in a ‘Bank on Yourself’ policy.
- Why the youth should have a Bank on Yourself policy.
- How you can utilize the positive side of social media and technology.
Key Takeaways:
- A Bank on Yourself Policy is a powerful asset-protection plan.
- Think like a bank. Do exactly what banks do. Not just save or put your money with them, but also invest like them.
Resources Mentioned:
- The Bank On Yourself Revolution: Fire Your Banker, Bypass Wall Street, and Take Control of Your Own Financial Future
Connect with Sarry Ibrahim:
- FIN Asset Protection
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Bryan Falchuk is an executive coach, TEDx presenter, and the author of The Future of Insurance. His book highlights first-hand accounts of insurers on how their businesses and organizations adapted to disruptions. Bryan’s writings have also been featured in top publications such as Inc. Magazine, Chicago Tribune, and the LA Times. He is also one of the most sought-after guests when it comes to coaching and business, having been interviewed on over 150 podcasts and radio shows.
Bryan joins us to share how the insurance industry will adapt in a post-Covid-19 world. He discusses some of his recent projects over the last 12 months and how the pandemic affected his speaking business. He explains why disruptions aren’t always guaranteed to change everything and shutdown businesses. Bryan also describes the importance of looking at the silver lining amidst problems like the pandemic as well as discusses the doors that have opened for him during this tumultuous time.
"It's easy to get caught in the spiral of everything that's facing you and everything that's yet to come." - Bryan Falchuk
Today on Spot On Insurance:
- What Bryan's been up to in the last 12 months.
- How the industry changed over the last twenty years.
- How ILSA stayed up-to-date with automation.
- What the "Amazonification" of the industry really means.
- Why Bryan left his previous company and the career he wanted to pursue.
- How the pandemic affected his leadership speaking business.
- The opportunities the pandemic allowed Bryan to have.
- Why the industry should provide claims agents more support.
- Why having a rich translation tool on your website can provide better customer experience.
- How the industry will have to adapt after the pandemic is over.
Key Takeaways:
- Tech disruptions a decade ago didn’t exactly disrupt what we expected it to disrupt.
- Claims agents are people who get up every day to make life better again for other people.
Connect with Bryan Falchuk:
- Future of Insurance
- Book: The Future of Insurance: From Disruption to Evolution
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Our guest Rebekah Ratliff is an insurance expert with over 25 years of experience as a claims professional, responsible for evaluating, negotiating and settling complex casualty claims loss matters, both nationwide and internationally. During her career, Rebekah managed and held the authority to negotiate and resolve cases for major commercial carriers, with settlements totaling in the millions. In 2016, Rebekah left her claims career and founded Capital City Mediations, LLC. Registered with the State of Georgia Office of Dispute Resolution as a civil and domestic Mediator and Arbitrator. Rebekah has become a resource for law firms interested in learning the value of their cases to determine the appropriate course of action regarding trials, or the pursuit of dialogue geared towards settlement.
Rebekah is the President of the Atlanta Association of Insurance Professionals (local chapter of NAAIA, and is active with other leading industry organizations.
Rebekah is a recipient of various prestigious awards including, the 2016 President’s Volunteer Service Award, the 2017 Gwinnett Chamber of Commerce Pinnacle Award, and the National Bar Association Outstanding Service Award. Rebekah was awarded the 2018 Light of Life 7th US District Congressional Award for her work in alternative dispute resolution.
Rabekah joins us to discuss her success in the insurance industry, her obstacles as a black woman, and how relationship building has played a role in moving here forward.
Connect with Rebekah Ratliff:
https://www.linkedin.com/in/rebekah-ratliff-a18b4735
https://www.facebook.com/CCMediations2015/
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Tim Christ is the Senior Executive Account Manager at Express Information Systems, a company that helps clients turn data into usable information. The company specializes in improving business technology systems as well as financial consulting. With over 20 years’ experience in executive leadership and consultative sales, Tim is capable of being any business owner’s top problem solver. He is also the author of the book, Becoming a World-Class Expert, where he shares some of his most interesting stories and experiences as a forensic engineer.
Tim joins us to share what it’s like to have a career in forensic engineering and some of the lessons he’s learned in this field. He describes what made him pursue forensic engineering and how he got into the insurance industry. He discusses what their company does for clients and how they can help a company make better financial decisions. Tim also explains what readers can expect from his book and shares a few tips that business owners can use to reduce financial mishaps.
"As business owners, we only have so many of those million-dollar mistakes we can afford to make before they're unrecoverable." - Tim Christ
Today on Spot On Insurance:
- How Tim first heard of the Spot On Insurance podcast.
- What it was like for Tim to grow up with a family of farmers in Texas.
- Why Tim pursued a career in forensic engineering.
- What a forensic engineer does and how Tim feels about this kind of job.
- The interesting story of an insurance claim he experienced in Mexico.
- Why he is inspired to help Latin America's insurance industry.
- How Express Information Systems helps clients scale an organization's accounting and business software.
- What Tim's book is about and what readers can expect from it.
- Tips for business owners who want to reduce financial mistakes.
Key Takeaways:
- No matter how clean a claim looks, there’s always a possibility for fraud.
- Financial mistakes, no matter how small, can lead to millions of dollars in losses.
Connect with Tim Christ:
- Express Information Systems
- Email: timc@expressinfo.com
- Phone: (210) 632-24571
- Becoming a World-Class Expert: The Business of Forensic Engineering
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Margaret Spence is the Founder of The Employee to CEO Project
Margaret is a transformational leadership development expert, keynote speaker, business strategist, and champion for women in the C-Suite. Determined to create a glide path for diversity and inclusion in executive leadership, Margaret launched The Employee to CEO Project, a global initiative aimed at increasing the representation of women, with specific emphasis on minority women, in C-Level leadership roles. Her bold mission is to empower ten-thousand women, over the next five years, into executive leadership and ultimately into the C-Suite.
Margaret has authored three books. Her latest book, Leadership Self-Transformation: 52 Career-Defining Questions Every High-Achieving Women Must Answer, challenges women to clarify their vision, pivot from expert to leader, and build the career they want. The opening chapter of her book asks women two simple questions, what do you want, and why don’t you have it now?
Connect with Margaret Spence:
Twitter - @margaretspence
Instagram - @margaretspenceceo
Facebook - @margaretspenceceo
LinkedIn – www.Linkedin.com/in/margaretspence
Website – www.EmployeetoCEOProject.com
Latest Book:
Leadership Self-Transformation: 52 Career-Defining Questions Every High-Achieving Women Must Answer
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and its services, visit ILSAinc.com.
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Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Evan Knox is the Founder and Chief Marketing Officer of Caffeine Marketing, a digital marketing agency that helps businesses build profitable marketing strategies. They have services and programs that can help clients get more leads, achieve better ROI, and have a bigger brand impact. Evan specializes in overall marketing strategy, social media marketing, sales funnel creation, SEO, and website design. Evan is also a Facebook Certified Buying Professional and a Facebook Certified Planning Professional.
Evan joins us to share a few business hacks when it comes to marketing and what sets Caffeine Marketing apart from their competition. He describes what it’s like to be part of a family of entrepreneurs and why he started Caffeine Marketing. He explains the importance of tracking marketing data, especially Facebook ads and the difference between brand marketing and direct marketing. He discusses why you should write your brand story as a guide instead of as ‘the hero’. Evan also shares how you can communicate your business knowledge and expertise to your customers.
"If you don't look at marketing like a science experiment, then you don't know which is a solution and which is not." - Evan Knox
Today on Spot On Insurance:
- Who Evan Knox is and how he got to where he is today.
- What it's like to be part of a family of entrepreneurs.
- Evan's faith and doing service as part of the Christian community.
- How Evan started Caffeine Marketing and what his initial goal was.
- Evan's advice to entrepreneurs in solving their brand awareness problem.
- The difference between brand marketing and direct marketing.
- Writing your brand story as the guide.
- What sets Caffeine Marketing apart from the competition.
- Monitoring the returns of investments from your social media ads.
- How to best communicate your expertise to those who aren't experts.
Key Takeaways:
- Tracking your marketing data is a metric critical to the success of your business.
- Knowing the hardships of people all over the world can keep you grounded in life and in business.
- Solving your marketing problems requires a more scientific approach.
Resources Mentioned:
- Zapier
- Gusto
- Bench
Connect with Evan Knox:
- Evan Knox Official Website
- Caffeine Marketing
- evan@caffeine.marketing
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Today Spot on Insurance welcomes a team from KPMG. KPMG operates in 147 countries, employing more than 219,000 people, serving the needs of business, governments, public-sector agencies, not-for-profits, and through member firms' audit and assurance practices, the capital markets.
The first of our guests is Melanie Henderson. Melanie is a senior executive in the KPMG Corporate Strategy group focused on serving the Financial Services (FS) Insurance industry, with an emphasis on business transformation, customer-centric, and innovative growth strategies. She has worked with some of the largest banks and insurance companies to identify the best combination of business, technology, and solution partnerships to bring value to the market quickly.
The second is Jason Freund. Jason has over 25 years of experience serving the insurance sector and the broader financial services industry with a focus on internal and external auditing, governance, enterprise and process risk management, and process improvement. He currently is KPMG's US insurance internal audit service leader. Jason has led numerous strategic performance reviews of internal audit functions as Departments navigate the impact of changing regulatory expectations, evolving internal audit practices, and emerging trends in governance.
And The third is Andrew Peters. Andrew is the Internal Audit expert in the Insurance Industry. Expertise in ITGC, SOX, ICFR, Automation, and Robotics. Meticulous budget Manager adept at financial modeling and Underwriting with a long track record of effective auditing and compliance management. He is also a distinguished graduate of the Toastmasters program committed to modeling exemplary leadership, writing, and communication skills.
Connect with Melanie Henderson:
https://www.linkedin.com/in/mhenderson3/
Connect with Jason Freund:
https://www.linkedin.com/in/jason-freund-a446a88/
Connect with Andrew Peters:
linkedin.com/in/andrew-dalzell-peters
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Mitch Doust is the Executive Vice President at Cover Genius, a global insurtech company that provides protection for customers of the world’s largest online businesses. As Executive Vice President, he oversees the growth of their products and the company’s expansion across Canada, North America, and Latin America. Before working with Cover Genius, Mitch was also part of another insurance company for over five years and was in charge of strategy management and innovation.
Mitch joins us to discuss his thoughts on the future of insurance distribution and how Cover Genius fits into that kind of world. He shares what it was like growing up in Australia and what made him pursue a career in insurance. He explains how insurtech companies can still innovate despite strict regulations and the areas the industry can still improve. He discusses what it was like in New York when the pandemic started and how it is today. Mitch also shares advice for those who want to have an established career in insurance.
"Technology will be at the heart of providing access to better risk protection." - Mitch Doust
Today on Spot On Insurance:
- Who Mitch Doust is and what it's like growing up in Australia.
- Mitch's experience in insurance, why he left, and why he returned.
- What the insurtech environment is like in Australia.
- Some of the challenges insurtechs face in any country.
- How the industry can leverage existing data to provide the right products that adapt with customers.
- How their platform works and how it gathers data for carriers.
- The difference between launching an insurance company decades ago to how it is today.
- Opportunities the industry can use to enhance product distribution.
- How technology can greatly influence the way we distribute insurance.
- Innovating systems and processes despite strict regulations.
- What it was like when the pandemic began in New York and how it is today.
- How newcomers in the industry can find success.
Key Takeaways:
- Insurance companies have now shifted to building products for the customers and not the carriers.
- Risk management and insurance products today rely almost 100% on data.
Connect with Mitch Doust:
- Cover Genius
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Today, our guest is Nancy Settergren. Nancy retired from Aon after a 27 year career with the organization where the last position she held was Senior Managing Director.
She now serves two non profit organizations: Peer Health Exchange and Fedcap. She joins us to discuss COVID-19, bias in the workplace, and mentoring champions.
Connect with Nancy Settergren:
linkedin.com/in/nancysettergren
nsettyram@gmail.com
Websites:
https://www.peerhealthexchange.org
https://www.fedcap.org
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Patricia Renzi is the Principal and CEO of Milliman, a company that provides actuarial and related products and services. As a company, they work with different clients to improve healthcare systems, improve risk management, and innovate financial security. Patricia is an experienced insurance professional with skills dedicated to actuarial technology solutions. She has been with the company for over 20 years and has served on the firm’s board of directors from 2015 to 2018.
Patricia joins us to share why she decided to join the insurance industry and what led her to work with Milliman. She shares the company’s current focus and long-term goals, the different products and services they offer that set them apart from other actuarial consulting firms, and how digital technology plays a role in expanding actuary opportunities. She also discusses the points of interest that insurance companies need to address and shares tips and advice for those who want to become part of the industry.
"The most exciting thing about digital and insurance is the opportunity for us to bring insurance to the globe." - Patricia Renzi
Today on Spot On Insurance:
- A snapshot of Patricia's life before she joined the insurance industry.
- How Patricia overcame the tragedies she experienced growing up.
- What sets Milliman apart from the competition.
- The new technologies they deployed that make the work of actuaries easier.
- How they are managing user data and where it goes.
- Digital transformation and how it is a key for expanding actuary opportunities.
- Why Patricia is passionate about promoting diversity in organizations.
- Critical areas where many insurance companies need to pay attention to.
- Patricia's advice to someone who's just entering the industry.
Key Takeaways:
- Insurers talk to people twice: When they sell you a policy and during the worst day of people's lives.
- The more we know about a particular customer, the more we can advise them better on how insurance can help them at this stage of their life.
Connect with Patricia Renzi:
- Milliman
- Email: pat.renzi@milliman.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Today’s Insurance Conversations in Black & White guest is Brett Fulmer.
Brett focuses on technology and startup projects related to insurance— (InsurTechs), while still trying to understand and grow in the traditional side of the insurance business. He supports benefits clients at Blake Maxwell Insurance (maxwellagency.com) in Newport Beach CA by providing tools and technology not typically offered to small to mid-size employers.
Brett is the US Ambassador, handling Marketing, Compliance and Partnerships for FINAEO (Finaeo.com) a Toronto Canada based InsurTech, building the Amazon of Insurance for financial planners.
Brett is an advisor for Juniper Labs, an open-source data machine learning Commercial Insurance Underwriter and a pet insurance startup out of Orange County, Breezy Pets LLC.
In his spare time he also runs a few networking groups: BrokerBrews.com and OCstartupHub.com.
Connect with Brett:
https://www.linkedin.com/in/brokerbrett/
https://twitter.com/Broker_Brett
My hub project / contact site:
https://brokerbrett.com/
Office (949) 358-7990
brett@brokerbrett.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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SOI174 - KIN for Homeowner’s Insurance: DIY or Concierge Service
Sean Harper is the Co-Founder of Kin Insurance, a company that aims to fix home insurance through the use of intuitive technology, world-class customer service, and affordable pricing. Their company is committed to serving homeowners who reside in catastrophe-prone areas and those deeply affected by climate change. Because of his background in Computer Science and Economics, Sean has efficiently integrated new technologies in an industry that prefers to do things ‘the old-fashioned way.’
Sean joins us today to share what Kin does, how their company is innovating the insurance space, and what they offer that other insurance companies don’t. He shares his experiences while attending college, how he became interested in programming, and what inspired him to start Kin. He discusses the new challenges the insurance industry will face post-COVID-19 and shares how he and his team coped during the quarantine. Sean also shares advice for those who are purchasing home insurance for the first time.
"People hate thinking about insurance, so we should do all that we can to get them thinking about it." - Sean Harper
Today on Spot On Insurance:
- Sean's life in college, his passion for programming, and when he began his career in insurance.
- Why Sean founded Kin and the insurance problems they can solve.
- Why starting an insurance company is easier than starting a bank.
- How the coronavirus pandemic affected their company and employees.
- The challenges of integrating tech into a non-tech industry.
- Why they don't trust user input data the same way they do objective data.
- The inspiration behind the name of their company.
- The services Kin can offer in times of catastrophes.
- Why more homeowners need to explore home insurance.
- Sean's tips for first-time home insurance buyers.
Key Takeaways:
- In catastrophes, people prefer text messages as a means of communication.
- Half of all flood losses happen in non-FEMA designated flood areas.
- People don't want to spend their time thinking about the composition of their building. They want to spend their time making sure they have the right coverage for their risk profile.
Resources:
- FEMA
Connect with Sean Harper:
- Kin Insurance
- Email: sean@kin.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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On this Spot on Insurance bonus episode: we talk to three professors:
C. W. Copeland, Ph.D. is the President of the Financial Planning Division of the National Financial Group. Dr. Copeland is also an Adjunct Professor of Insurance at The American College of Financial Services, an Adjunct Professor at the College for Financial Planning and an Adjunct Professor at Clark-Atlanta University. Dr. Copeland conducts scholarly research in Behavioral Economics and teaches graduate-level business courses. He has been a regular guest on radio and television shows across the country where he addresses audiences on financial planning strategies on a regular basis.
Dr. Copeland has served for 20 years as an instructor with R.S. Thomas Training Associates providing pre-licensing training, continuing education, and business development advice for financial services professionals. Dr. Copeland has more than 20 years of industry experience as a financial planner where he coordinates the efforts of attorneys, tax advisors, employee benefits managers, estate and business planners, and pension managers for the benefit of his clients. He holds numerous licenses and registrations in the areas of investments and insurance and holds the prestigious Chartered Financial Consultant (ChFC) and Chartered Life Underwriter (CLU) designations.
Dr. Craig Lemoine. Dr. Lemoine is the Director of the Financial Planning Program at the University of Illinois, Urbana-Champaign. He serves as an Associate Clinical Professor, teaching courses in risk management, retirement and financial planning. Craig earned his PhD from Texas Tech University in 2013 and currently holds the Certified Financial Planner ™ and Master Registered Financial Consultant™ designations.
Craig currently serves as the Executive Director of the Academy for Home Equity in Financial Planning, vice-chairman of the Master Registered Financial Consultant Board and is working with his team to develop specialized content in the area of agriculture-focused financial planning. Previously, Craig served on and chaired the CFP® Council of Examination (2009-2014) and was the Executive Director of the Northwestern Mutual Granum Center for Financial at The American College of Financial Services in Bryn Mawr, PA.
Dr. James Moten. He is the Insurance Program Director at Collin College
Dr. James M. Moten Jr., CFP®, is currently the Professor of Insurance Management and Discipline Lead for Collin College’s Insurance Management Program that began Fall 2019. He has been teaching Insurance Management, Financial Planning, Finance, Economics and Accounting full-time since 2005. His professional experience includes serving as an insurance agent, financial planner, and financial counselor after his 11-year military career. He has a PhD in Business Administration (Financial Management Concentration), a Master of Science in Finance, a Master of Science in Accounting, a Master of Science Economics, a Master of Business Administration, a Master of Science in Financial Planning and a (MS) Master of Science in Acquisition and Contract Management. In addition to his academic degrees, he is a Certified Financial Planner Professional (CFP®), a Chartered Financial Consultant SM (ChFC®), a Chartered Mutual Fund Counselor SM (CMFC®), and a Chartered Retirement Planning Counselor (CRPC®).
Connect with Dr. Craig Lemoine:
Director, Financial Planning Program and Clinical Associate Professor
302c Mumford Hall
1301 W. Gregory
Urbana Illinois 61801
(217) 300-7028
craiglem@illinois.edu
Craig’s Profile
linkedin.com/in/craig-lemoine-cfp-r-phd-mrfc-bb1a765
lemoinefc@gmail.com
- HigherEdCraig
Connect with Dr. C. W. Copeland:
C.W. Copeland, Ph.D., ChFC®, CLU®, RICP®
404-913-1413 (office)
404-567-3275 (cell)
www.PhDinMoney.com
Connect with Dr. James M. Moten Jr:
linkedin.com/in/james-m-moten-jr-cfp-afc-chfc-crpc-cmfc-bb0a5016
profjmoten@yahoo.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Ron Glozman is the CEO & Founder of Chisel AI, a company that provides AI-based solutions for the global insurance industry. The program makes use of natural language processing and machine learning to read and interpret complex documents instantly. He is passionate about promoting the use of artificial intelligence to streamline every day, mundane tasks, despite the fears of AI taking jobs. Ron is also the co-author of The AI Book, a crowdsourced book on the different uses of AI across financial services.
Ron joins us today to describe the future of insurance and AI and how his app can help improve business efficiency and simplify repetitive tasks. He shares his academic background, his interest in logic and mathematics, and the different programming competitions he joined. Ron also explains how his app found sponsors in the insurance industry and what it can do for companies that employ home-based workers.
"When you talk, you only repeat what you know. When you listen, you might learn something new." - Ron Glozman
Today on Spot On Insurance:
- The number of countries Ron traveled to by the time he was 13.
- Ron's experience competing in contests that involve programming.
- How his first app was received by the public and how it found its way into insurance.
- Ron's experience working with various insurance companies.
- Ron's formula for luck based on statistics.
- How their app's pitch meeting went with Zurich Insurance Group.
- How insurance companies can use AI systems for repetitive tasks.
- Why insurance is not a commodity good.
- What their app can do for those who are working from home.
Key Takeaways:
- Talking is the last thing you want to do when you want to learn something new.
- Never stop trying until you see the result you want.
Resources:
- Zurich Insurance Group
Connect with Ron Glozman:
- Chisel AI
- The AI Book
- Podcast
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Today we have 2 guests, who are business and life partners.
The first is:
Kate Erickson — “The engine at Entrepreneurs On Fire”—or in other words the integrator of awesome ideas. She is also the host of the podcast Ditch Busy and co-author of The Podcast Journal: Idea to Launch in 50 Days.
And second is:
John Lee Dumas, the host of Entrepreneurs on Fire, an award winning podcast where he interviews inspiring Entrepreneurs who are truly ON FIRE. With over 2500 episodes, 1 million + listens a month, and seven-figures of annual revenue.
Connect with our guests:
Kate Erickson:
linkedin.com/in/katelynnerickson
Websites
podcastersparadise.com (Podcasters' Paradise)
entrepreneuronfire.com/ (EntrepreneurOnFire)
entrepreneuronfire.com/blog (EntrepreneurOnFire Blog)
kate@entrepreneuronfire.com
katelerickson
John Lee Dumas:
linkedin.com/in/eofire
Websites
swiy.io/eof (Free courses for Entrepreneurs)
swiy.io/freepodcastcourse (Free Podcast Course)
swiy.io/eofsubscribe (Subscribe to Entrepreneurs on )
jm@entrepreneuronfire.com
johnleedumas
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Désirée Mettraux is the CEO of OCC Asseskuradeur, a German-based company that offers insurance plans for vehicles with a focus on classic cars. She has extensive experience in the insurance industry, even before joining OCC, working with several motor vehicle insurance products. Her focus is on digital business and has mentored various startups in the digital realm. Désirée also provides consulting services for the online classic vehicle trading platform, “Classic Trader.”
In today’s episode, Désirée shares what OCC does and why they decided to focus on classic car insurance. She describes her childhood and her career as a startup mentor. She explains the importance of adapting to the digital generation and how old companies can streamline this process. Désirée also discusses gender issues in the workplace, especially in executive positions, and shares advice to those who want to start their career in insurance.
"Be curious. Be motivated. Be critical. There is always a better way." - Désirée Mettraux
Today on Spot On Insurance:
- Who Desiree Mettraux is, her family, and career milestones.
- What Desiree's youth was like and what it was like being a student n Switzerland.
- What OCC is and what they seek to do as a company.
- The challenges they encountered when it comes to implementing car insurance services.
- How they are adopting digital technology within the workplace to adapt to the younger generation.
- Desiree's thoughts on how the insurance industry needs to be customer-centric.
- The new technologies Desiree is looking forward to seeing.
- How they are addressing gender-based issues of leadership in startups.
- The pros and cons of being a female leader in any company.
Key Takeaways:
- It's important to see the industry from the perspective of a customer.
- Hard work always pays off, no matter what industry.
Connect with Désirée Mettraux:
- OCC Assekuradeur GmbH
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Our first guest in today’s episode Soraya Wright, is a Risk Management Executive with over 30 years of experience managing complex risks for global businesses. She leverages her experience to identify and evaluate enterprise risks and determine appropriate mitigation and risk finance strategies to protect an organization’s earnings and reputation. Soraya is Founder o f SMW Risk Management Consulting LLC. Her previous executive positions include VP- Global Risk Management & Crisis Management at The Clorox Company, where she was responsible for leading the company’s enterprise risk management program, global insurance strategy, crisis management and business continuity for worldwide operations; President-Board of Directors of the company’s captive insurance subsidiary, which she formed; and, VP- Enterprise Risk Management at Target, where she was recruited to launch the strategy and centralized oversight of the company’s post-breach enterprise risk management program. In each role, Soraya advised C-Level executives on smart risk taking and presented her findings to the Board of Directors.
Soraya is a champion for diversity and inclusion, leveraging her influence to develop strategies, change policies, establish protocols and implement practices that enable organizations to drive success through diversity and inclusion efforts. Soraya served on the Diversity Advisory Board at Clorox, Co-led an African American Employee Resource Group (ERG) and served on a Women’s ERG Leadership Team. She currently serves on the Risk & Insurance Management Society’s (RIMS) Diversity and Inclusion Council and is sought out as a key-note speaker on diversity matters.
Soraya received her BA in Business Administration & Economics from Holy Names University. She is a member of the Executive Leadership Council (ELC). In December 2015, Soraya was named by Business Insurance as a “Woman to Watch.”
Deidre Wright is the CEO of Strategic Stories, she is a Diversity & Inclusion Award Winner and Board Advisor for Juniper Labs. She's a frequent public speaker; including at events with Barack Obama and Colin Powell. Deidre's been featured in Essence.com, Savoy Magazine and viral LinkedIn posts with over 77,000 views.
She provides personal branding consulting to underrepresented professionals to turn them into industry celebrities. Her insurance industry experience includes previously leading Business Insurance’s Diversity & Inclusion Institute as Director of Engagement & Marketing; where she developed strategies, partnerships & Public Relations in order to collaboratively promote diversity & inclusion. Her brokerage experience includes managing complex accounts for Marsh’s San Francisco Global Risk Management and Aon’s Atlanta National Casualty divisions.
Deidre has served as Co-Chair of San Francisco's Dive In Fest, NAAIA’s Emerging Leaders Committee; and as a member of RIMS Rising Risk Professionals Board.
Connect with Saroya Wright:
Soraya M. Wright
San Francisco Bay Area, CA
soraya.wright@smwrisk.com
www.smwrisk.com
Sorayawright.com
510-499-3886
www.linkedin.com/in/sorayamwright
Twitter:
@MsRoyaW
Instagram:
@msroyaw
Facebook:
www.facebook.com/soraya.wright
Connect with Diedre Wright:
Founder of Strategic Stories LLC
(415) 669-4910
hello@deidrewright.com
www.linkedin.com/in/deidrewright
Twitter:
@deidrewrite
Instagram:
@deidrewrite
Facebook:
https://www.facebook.com/deidrewrite/
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Steve Watson is a CFO, a licensed Chief Humans Resources Officer, and the Founder of Trendbreakers, a company that advises employers on how to reduce their employee health insurance costs. Trendbreakers is composed of employees with backgrounds in Finance, Human Resources, and Benefits Advising. As CFO, he has helped his company enjoy over $500,000.00 per year of benefits savings with a 20% discount for his employees despite retaining or having better benefits. Steve also offers one-on-one coaching services to help with benefits and renewals.
In today’s episode, Steve Watson shares why the cost of employee healthcare is rising and how his company can help employers mitigate some of those expenses. He describes his life growing up in a rural city, his time in the financial industry, and when he joined the insurance industry. He explains why he founded Trendbreakers and their goals as a company. Steve also discusses how companies can build the best employee insurance plans without cutting benefits.
"There's this myth that we all believe that we have to have insurance; that insurance has the best cost. It's not true in a lot of cases." - Steve Watson
Today on Spot On Insurance:
- Steve's career in finance and when he joined the insurance industry.
- What Steve's life was like growing up in a rural city.
- How Steve and his family weathered the Crash of 2008.
- How companies can help mitigate the rising costs of employee healthcare expenses.
- Steve's thoughts on what advisors should do to help businesses improve employee relationships.
- Why CFOs and HR departments need to work together in creating insurance plans.
Key Takeaways:
- The CFO, HR, and a broker or advisor are the key people in creating the best insurance plan for employees.
Connect with Steve Watson:
- Trendbreakers
- Child & Family Support Services, Inc.
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Michael Konialian is the Vice President and General Manager at CoverWallet For Agents, a platform that allows agents to easily and efficiently quote, bind, and provide service to their customers. Some of his responsibilities include defining the product offering, managing sales and operations, and planning the strategic direction for the business unit. Before joining the insurance industry, Michael was a Foreign Affairs Officer for the US Department of State.
In today’s episode, Michael shares what CoverWallet For Agents does and how the design is meant to be as user-friendly as possible. He describes his experience working as a researcher for NASA, his career in Foreign Affairs, and when he joined the insurance industry. He explains the benefits of using CoverWallet For Agents and how it streamlines policy recommendations and pricing. Michael also discusses the future of insurtech and the new technology he looks forward to seeing enter the insurance industry.
"The economic crisis encouraged my peers to think differently." - Michael Konialian
Today on Spot On Insurance:
- What Michael's childhood was like and his dreams and aspirations.
- Why Michael wanted to be an astronaut and when he realized he couldn't be one.
- Michael’s experience in NASA's Jet Propulsion Laboratory and as a Foreign Affairs Officer.
- How the last economic crisis shaped Michael’s career trajectory.
- What CoverWallet For Agents does and how their platform works.
- The tools CoverWallet For Agents that can help with pricing computations.
- Why their platform helps reduce the complexity of traditional insurance systems.
- How Michael optimized his learning curve when he entered the industry without an insurance background.
- The new tech Michael looks forward to in the future.
- How CoverWallet For Agents fared throughout the pandemic.
Key Takeaways:
- Technologies in the future will be all about optimizing the user interface and a system’s ease of use.
- The pandemic has brought about new ideas and innovations that will be pandemic-proof.
Connect with Michael Konianlian:
- CoverWallet For Agents
- Email: agents@coverwallet.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Today’s Spot on Insurance guest Désirée Mettraux is the CEO of classic car insurance specialist OCC Assekuradeur GmbH in Germany. OCC is the market leader in the DACH region for the insurance of classic vehicles. From the time period of 2007 and 2012 she held increasing responsibilities in the insurance industry including heading the department of motor vehicles and vessels at National Suisse, based in Basel/Switzerland. Désirée's has worked as a mentor for various startups in the digital realm and is co-founder of Swiss camper van hire portal mycamper.ch, where she's still an active member of the board. In 2016 Désirée co founded, Creadi AG, a Basel based InsurTech startup.
Connect with Désirée:
- linkedin.com/in/désirée-mettraux-9a3305131
Websites
+ occ.eu (Company Website)
+ mycamper.ch (Company Website)
+ deutscheroldtimerclub.de (Company Website)More Details: www.occ.eu< http://www.occ.eu> & https://www.linkedin.com/in/désirée-mettraux-9a3305131/
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Sonny Patel is the Founder and CEO of Insurmi, a company that developed Violet. Violet is an A.I. assistant designed to help clients increase their revenue, lower operational expenses, and improve the insurance customer experience. Violet can sell policies, file claims, manage policy changes, and answer customer questions. As CEO, Sonny is responsible for overseeing the company’s strategic growth and continual development of technologies meant to cater to future generations.
In today’s episode, Sonny shares what it was like to move to Africa, what his life was like before he founded Insurmi, and what led to the development of Violet. He describes the need for technologies to catch up with current events, especially with regards to COVID-19. He explains how Violet works and it’s potential for revenue and customer engagement. Sonny also shares the funny story of how they came up with the name Violet and their other choices.
“Customers that are in the younger demographic are willing to pay a little bit more for a better customer experience.” - Sonny Patel
Today on Spot On Insurance:
- Sonny's childhood, the time he moved to Africa, and when he joined the insurance industry.
- Why you should start building your network in college.
- Why Insurmi focused on increasing customer engagement for their platform.
- The difference between their young and more seasoned customers.
- What Insurmi’s transition was like with the pandemic.
- How they decided to name their company Insurmi.
- Sonny's thoughts on the future of insurtech and inventions to look forward to.
- Sonny's advice to those coming out of college and want to join the insurance industry.
Key Takeaways:
- The pandemic has forced industries to adapt to technologies that don’t require physical contact.
- People are willing to pay more for apps designed to provide top-notch customer engagement and service.
Connect with Sonny Patel:
- Insurmi
- Email: sonny@insurmi.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Today, on Spot on Insurance we have 2 guests from the CBIZ Organization. CBIZ has over 100 offices in the US and 4800 employees and serves over 90,000 clients.
Our first guest is Timothy Kolgen who serves as a Business Development Manager for the Tangible Asset Practice of CBIZ Valuation Group.
Joining us as well is Jeb Phillips who holds the role of Manager in CBIZ Valuation Group’s Tangible Asset Practice. Jeb has 15 years of insurance inspection and valuation experience. His responsibilities include project management, loss control and builder’s risk inspections, quality control, and report compilation.
Connect with Tim and Jeb:
Timothy J. Kolgen
Business Development Manager
10616 Scripps Summit Ct., Suite 250
San Diego, CA 92131
Phone: 858.795.2257
tkolgen@cbiz.com
Linkedin: https://www.linkedin.com/in/timothykolgen/
Company Linkedin: https://www.linkedin.com/company/cbiz-valuation-group/
Company Linked: https://www.linkedin.com/company/cbiz/
Twitter: https://twitter.com/TimothyKolgen
Company Twitter: https://twitter.com/CBIZ_Valuation
Company Twitter: https://twitter.com/cbz
Company Facebook: https://www.facebook.com/cbizservices/
Jeb Phillips, ASA
Manager
535 Mission Street, 14th Floor
San Francisco, CA 94105
Phone: 312.602.6656
jeb.Phillips@cbiz.com
Linkedin: https://www.linkedin.com/in/jeb-phillips-asa-46821229
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Azul Terronez is a TEDx Speaker, bestselling author, and CEO & Co-Founder of Authors Who Lead, a company that provides coaching services for aspiring authors. He has over 20 years of experience as an educator and as a writer for TV shows. He champions the idea of writing a book that transforms the reader instead of something that simply relays information. Azul is also the host of the Born to Write podcast, a show where they interview different authors and talk about the many reasons why they became authors.
Azul joins us to share advice on what new authors should keep in mind when writing their first book. He describes his struggles with dyslexia, his not-so-typical college route, and why he decided to pursue a degree in arts and theatre. He explains the difference between a transactional book and a transformational book and shares the common mistakes many new authors make when writing their masterpiece. Azul also shares how you can establish a healthy and realistic writing pace and what you should expect from finishing your book.
“Most great books are when the reader remembers they’re the lens that the content shines through.” - Azul Terronez
Today on Spot On Insurance:
- Why Azul didn’t think he’d go to college and his struggles with dyslexia.
- His experience as a college student and why he pursued a degree in arts and theatre.
- How he got started with writing scripts and his career on television sets.
- How he managed to publish a book despite his dyslexia and what he wrote about.
- Differences between transactional and transformational books.
- Common mistakes new authors make when writing leadership books.
- Establishing a writing pace to complete your first book.
- What you should expect your finished book to look like.
Key Takeaways:
- The idea isn’t the content; it’s part of it.
- You have to untrain your brain from believing that writing’s hard.
Connect with Azul Terronez:
- Authors Who Lead
- Born to Write Podcast
- Email: azul@authorswholead.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode.
Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Nick Andrews is the Marketing Project Manager for Liberty Mutual Insurance, a company that customizes coverage so customers only pay for what they need. They offer multi-policy discounts, better car replacements, and 24/7 road assistance among other services. As Project Manager, Nick is responsible for planning and executing national marketing programs formulated to boost business and client retention. Some of his areas of expertise include SEO, PPC, social media ads, email marketing, and B2B marketing.
Nick joins us to discuss the steps companies need to take to make sure their referral programs are working as intended. He shares the toughest challenge he’s encountered as a professional and how he gravitated towards working in the insurance industry. He explains how you can track your referral and other marketing programs and how to maintain cybersecurity while working from home. Nick also shares advice for those who are struggling to run their businesses during the COVID-19 pandemic.
“Tracking is such a key element, not just for the success of a referral program, but for the success of all marketing.” - Nick Andrews
Today on Spot On Insurance:
- A brief introduction to Nick and his professional career.
- The biggest professional challenge he faced and how he overcame it.
- Interesting stats about their High Growth Agency Survey.
- Keeping track of whether your marketing strategies are working.
- The steps you need to take for your referral program to work.
- Using charities to improve your social media presence and referrals.
- How they keep their business running during the pandemic.
- Cybersecurity concerns of running a business from home.
- The next game-changer in the insurance industry.
Key Takeaways:
- Referral programs need to be carefully tracked to see if they’re working and worth the investment.
- Charities can be used as a means of spreading your brand all over social media.
- Be able to communicate with your clients in a way that they want to communicate
Resources Mentioned:
- Zoom
Connect with Nick Andrews:
- Liberty Mutual
- Email: nicholas.andrews@libertymutual.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Our guest is Mike Furlong the CEO of Indio Technologies, a division of Applied Systems, which provides insurance application and renewal software to automate the commercial lines submission process among agencies, brokerages, insurers and insured. The platform provides a fully digital client risk capture and application experience by automating the data population across each individual, unique insurer application. Prior to Indio Technologies, Mike started Sliced Investing, the first online hedge fund investment platform built for individual investors. Mike's passion is at the intersection of software and financial services, with a focus on enhancing legacy workflows.
Mike joins us to talk about Indio technologies and his journey through life and the insurance industry.
Contact Mike Furlong:
INDIO TECHNOLOGIES, INC.
1300 Guadalupe Street 4th Floor Austin, TX 78701
Tel: 248.755.1105
https://www.facebook.com/IndioTechnologies
https://www.linkedin.com/company/indiotechnologies
https://twitter.com/useindio
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Our guest Steve Mohr joined Lightspeed Voice in April 2019, leading sales & marketing along with driving product innovation. He worked with Allstate Technology for 7 years leading the deployment, adoption, and product roadmap for eAgent; the Allstate AMS. He managed multiple agencies in Florida and was a licensed agent for 20 years.
Steve joins us to discuss what makes their technology a great fit for the insurance industry and shares some life lessons he's learned. He also discusses what you can expect from the Agency Nation elevate conference this year.
Contact Info
Social Media Platforms:
Facebook https://www.facebook.com/steven.mohr
https://www.linkedin.com/company/lightspeedvoice/ https://www.linkedin.com/in/stevenmohr/
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Pat Renzi, is a principal at Milliman and CEO of its Life Technology Solutions. The division provides products and services related to financial and risk reporting and projections, including Integrate™, MG-ALFA®, and MG-Triton®. Pat, joined the firm in 1999, was elected to the firm's board of directors in 2015.
Pat joins us to discuss COVID-19 impact on her company, employees, and her life in New York.
Connect with Pat Renzi:
One Pennsylvania Plaza, 38th Floor New York, NY 10019
Tel +1 646 473 3110
milliman.com
pat.renzi@milliman.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Our Agency Nation guest is Kristy Dowell. She has been in the insurance industry for over twenty years. She started her career as an independent agent and after several years, Kristy evolved into the role of software solution provider to insurance agencies. The experience from both client and contractor perspectives translated into a unique skill set. Kristy’s passion is helping agencies operate and expand efficiently and she is able to do so as part of the Systems East, Inc./Xpress-pay team in the Business Development Division.
Contact Info
linkedin.com/in/kristy-dowell-3036969
kristy@xpress-pay.com
www.xpress-pay.com
FB page:
https://www.facebook.com/Xpress-Pay-170085333073914/
FB Group:
https://www.facebook.com/groups/xpresspay/
LinkedIn:
https://www.linkedin.com/company/xpress-pay-com
Twitter:
https://twitter.com/xpresspaydotcom
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Christie Simpson is the President and CEO of Zion Risk Solutions, a company that focuses on mitigating employee health risks by providing programs that assist employees to live a healthy lifestyle. They put emphasis on the idea of “well care,” and how establishing a healthy lifestyle can lower a company’s spending on preventable health problems. Christie has been in the insurance and healthcare industries for over 20 years, much of it as part of the workers’ compensation sector. Before founding Zion Risk Solutions, Christie worked full-time as an insurance adjuster.
Christie joins us to share how Zion Risk Solutions can help improve employee wellness that can translate to savings for the employer. She discusses the reasons behind her starting the company and how her mother inspired her. She explains the programs they offer and how the companies benefit from them. Christie also describes the positive changes their programs can provide to employees outside of work.
“You can't force anyone on wanting a better life for themselves. They have to want to get better.” - Christie Simpson
Today on Spot On Insurance:
- How Christie's mother influenced the way she cared for employees.
- The idea behind the creation of Zion Risk Solutions.
- Christie's work experience and what she realized when she quit adjusting.
- How Zion works and the programs they use.
- What they learned from the clients they served.
- The effects of processed food on an individual's health.
- How their programs help customize a person's fitness needs.
- The benefits of utilizing their employee wellness services.
Key Takeaways:
- You can’t pour from an empty cup. You can’t continue on giving to others if you don’t give some to yourself first.
- We have to relook at how we’re helping ourselves as a business.
- Employers can improve work productivity if they pay attention to the wellness of their employees.
Connect with Christie Simpson:
- Zion Risk Solutions
- I Stand podcast
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Eric Allen is the President of Sixth Avenue West, a collection services company that primarily serves commercial insurance carriers, law firms, government contractors, and institutional lenders. He has over 15 years of experience in the insurance and human resources industries. His responsibilities as president include business development, quality assurance, and customer experience enhancement. Eric also held multiple leadership roles for insurance companies, self-insurance funds, and employer organizations.
Eric joins us to share what Sixth Avenue West does for the insurance industry and why they’re not your typical collections company. He shares the lessons he’s learned throughout his life and career, his sports accolades, and how his experience in track and field made him a good leader. He discusses the lack of empathy in the collections industry and how their business model addressed that gap. Eric also shares advice for those who may want to work with a collections company.
“Learn the process and take it head-on. That will lead you into doing work outside of that one profession, and you become way more valued to a company and to yourself.” - Eric Allen
Today on Spot On Insurance:
- Eric's life journey and some of the takeaways he learned.
- Some of Eric's notable sports achievements.
- How sports helped him become successful in his career.
- Why Eric didn't let his family background get in the way of his dreams.
- Eric's job as a premium auditor and when he decided to manage the family business.
- What separates Sixth Avenue West from a typical collection agency?
- The businesses they serve and how they plan to outlast the pandemic.
- What their "stoic philosophy" business model is about.
- The system they put in place as a workaround to the difficulty of collecting money.
Key Takeaways:
- You can learn business skills from activities that don’t revolve around business.
- Empathy and collecting money are not mutually exclusive to one another.
Connect with Eric Allen:
- Sixth Avenue West
- Email: eallen@6thAveW.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Seth Preus is the Founder of Mivation, a software company that provides productivity solutions through gamification, competition, and achievements. He drew inspiration from his time as a 19-year old vacuum cleaner seller, where he became obsessed with sales productivity and self-motivation. His system uses the “3 M’s” approach - Mastery, Motivation, and Momentum - which he says unlocks the formula for an increase in overall team performance. Before Mivation, Seth founded RacingSnail, a productivity and compensation tool with an insurance focus.
Seth joins us to share how gamification allows team members to unlock their full potential. He shares his journey, his experience in sales, and the motivation that led him to start RacingSnail and Mivation. He describes the triggers that can boost performance and the do’s and don'ts when it comes to motivating a team member. Seth also explains the difference between extrinsic and intrinsic motivations and what companies can do to bring out the best of their employees beyond benefits and salary.
“I don't believe you're going to have long-term success if you're constantly using the stick to get people to perform.” - Seth Preus
Today on Spot On Insurance:
- Seth's upbringing as the son of a Lutheran priest.
- Seth's educational background and what he wanted to be when he grew up.
- The motivation behind his companies, RacingSnail and Mivation.
- Motivational triggers Seth uses to improve staff performance.
- How their system works and the data they track.
- His experience in being fired and why he wasn’t upset.
- What not to do when trying to motivate staff.
- Gamification, millennials, and how Seth works with them.
- The difference between extrinsic and intrinsic motivation.
- The opportunities of the insurance industry in gamification and other technologies.
Key Takeaways:
- Gamification makes millennials feel more comfortable.
- No matter how good your training program is, some could just be in the wrong job.
Connect with Seth Preus:
- Mivation
- RacingSnail
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Adam Michaels is an entrepreneur and founder of Enrollify, a platform that aims to solve problems faced by consultants, brokers, and enrollment firms in converting cost containment strategies into results. Equipped with over 25 years of experience, he realized that you don’t need to sell to succeed, but educate instead. He believes leaders should have the heart of a social worker, but the mind of a capitalist. Adam is also the author of the book Sink or Shine, where he separates the modern marketplace into two categories: Tugboats and Lighthouses.
Adam joins us today to share what Enrollify plans to become and what the insurance industry can expect from their platform. He describes his life as a teen, his first few years as a professional, and how he raises his children. He discusses the idea of Global Insecurity and how it’s affecting all of us today. Adam also explains his thoughts on leveraging technology, Corporate America, the gig economy, and how he wants to have the best of both worlds at Enrollify.
“The emergence of technology caused consumers to really lean into leveraging technology towards their wants.” - Adam Michaels
Today on Spot On Insurance:
- Adam’s teen years and his career as a stockbroker.
- What Global Insecurity is and where it all began.
- His thoughts on today's children and how difficult it was to be successful before.
- How being a child of divorce motivated him to be successful.
- His approach to raising children and what he teaches them.
- Addressing the technological needs in the market and not just the wants.
- Statistics regarding insurance education and engagement.
- Adam’s thoughts on the gig economy and Corporate America.
- What he means by the Reflexive “No.”
Key Takeaways:
- 80% of employees choose the wrong coverage.
- If we're insecure as employees, we don't feel empowered.
- An educated and engaged population leads to greater empowerment.
- Corporate America has it all wrong. They measure success by how long people stay. Instead, they should measure success by what people say after they leave.
Resources Mentioned:
- Never Split The Difference by Chris Voss
Connect with Adam Michaels:
- Enrollify
- App site
- Official website
- Book: Sink or Shine
- Phone: (424) 433 GURU
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Andrew Vogeney is the Marketing Manager at FRISS, a fraud, risk, & compliance company. FRISS offers fraud detection and risk assessment software that allows companies to have hi-speed, real-time risk assessment, and have up to five times increase in anti-fraud savings. Andrew is the company’s marketing and sales lead in North America and specializes in strategic marketing and communications.
Andrew joins us to share his responsibilities as Marketing Manager at FRISS and how the company helps in keeping insurance honest. He describes his journey, why he was interested in having a career in broadcasting, and what led him to join the insurance industry. He discusses the need for honesty to be rewarded with ease and convenience, especially when it comes to claims. Andrew also explains how their fraud-checking system works and how they rate users according to their honesty.
“It's no longer an insurance industry; it's an insurance ecosystem.” - Andrew Vogeney
Today on Spot On Insurance:
- Andrew’s career journey and why he was interested in broadcasting and TV.
- The reason he wanted to work in insurance.
- The products FRISS offers and their company mission.
- Why they give chocolate at insurance conferences.
- Solving the fraud problem in insurance.
- How their fraud-checking system works.
- What customers can do to make their accounts look better in their system.
- What's in the pipeline for FRISS?
Key Takeaways:
- Insurance companies, in terms of the bottom line, don't want to pay out on a claim they don't have to pay out on.
- Honesty should be rewarded and not met with red tape.
Connect with Andrew Vogeney:
- FRISS
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Today’s Spot on Insurance Guest is Lance Poole, CEO and Co-Founder of Juniper Labs that’s transforming the way the insurance industry views data and underwriting. Prior to Juniper Labs, Lance founded and scaled Maxwell, a leading digital mortgage platform. Lance also has spent a decade on the carrier side of the business as a product actuary. He has a deep understanding of strategy and innovation process and has coached executives at Stanford™s Institute of Design. Juniper Labs uses a combination of open data and machine learning to build data products and automated underwriting tech.
Lance joins us today to discuss Coronavirus & Commercial Insurance -- What past crises can teach us about survival.
Connect with Lance Poole:
lance@juniperlabs.io
linkedin.com/in/lancehpoole
lancepoole:
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Ben Volkmer is an Insurance Recruiter at Questpro, a company that provides staffing services to the Risk Management and Insurance industry. For the last 12 years, he has been in charge of recruiting sales and account management and works primarily with insurance carriers and their distribution partners. Ben specializes in workers’ compensation, permanent placement, underwriting, sales, and property & casualty insurance.
Ben joins us to share what it’s like to be a recruiter for the insurance industry. He describes what motivated him to chase a career in recruitment and how an injury factored into his decision. He explains what a recruiter does, their responsibilities, and the many mistakes applicants make when writing and submitting resumes. Ben also discusses the effects of the COVID-19 pandemic in the job market and how this crisis will change the way companies hire people who work from home.
“The way people find talent is innumerably different across all firms.” - Ben Volkmer
Today on Spot On Insurance:
- Ben's urban upbringing and what made him choose a career in insurance.
- When he broke his neck and how it changed his career and life forever.
- How he got involved in the business of recruiting.
- What a ‘headhunter’ does and the best way to utilize them.
- Examples of bad resumes and how to write a good one.
- Ben’s thoughts on companies who rely on aggressive advertising.
- The financial impact of COVID-19 and its effects on recruiting businesses.
- How companies can retain their existing employees during the coronavirus crisis.
- How the pandemic will change the way companies view work-from-home options.
- Why real estate is an obstacle for many businesses.
- The top positions they have trouble filling.
- Some of the positions that pay the most money.
- What people should be doing right now when it comes to networking.
Key Takeaways:
- Recruiters get paid by companies on delivery and by the start of the candidates.
- You can make more as a broker than CEOs at large organizations with TV commercials.
- There are billions of dollars in premium with organizations that don't advertise themselves and don't want to be the most visible employer out there but are still incredibly great places to build careers.
Connect with Ben Volkmer:
- Questpro
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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On this COVID 19 Bonus episode we talk to two partners from the Squire Patton Boggs Global law firm, Mary Jo Hudson who served as the former Insurance Commissioner for the State of Ohio and Larry Schiffer who specializes in insurance and reinsurance arbitration, litigation, and mediation.
They join us to delve into the current as well as proposed legislation surrounding COVID-19.
Connect with Mary Jo:
Mary Jo Hudson
Partner
Squire Patton Boggs (US) LLP
2000 Huntington Center
41 South High Street
Columbus, Ohio 43215
T +1 614 365 2732 (forwarded to mobile 24/7)
M +1 614 560 9692
mj.hudson@squirepb.com
squirepattonboggs.com
Connect with Larry:
Larry P. Schiffer
Senior Partner
Squire Patton Boggs (US) LLP
1211 Avenue of the Americas, 26th Floor
New York, NY 10036
T +1 646 557 5194
O +1 212 872 9800
F +1 212 872 9815
M +1 516 650 1827
larry.schiffer@squirepb.com
squirepattonboggs.com
https://www.inredisputesblog.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and its services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Dennis Logan began his insurance career with Chubb as a non-profit management liability underwriter specializing in churches, foundations and youth organizations. He then transitioned to Dual Commercial where he underwrote management liability for private, and often distressed companies. He went on to the wholesale brokerage side of the business with All Risks, Ltd. where he specialized in unique products including Cyber, Management and Professional Liability. Today as a Broker for Professional Risk Solutions, he is focused on adding value to his agent partners and collaborating with underwriters to create the most robust policies in the market.
Dennis Joins us to discuss Cyber security and what to look for during this pandemic.
Connect with Dennis Logan:
linkedin.com/in/dennisloganjr
Website
- prsbrokers.com (Personal Website)
Phone
- 443-743-0723 (Mobile)
dal028@bucknell.edu
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Ryan Hanley is the Founder and Chief Strategist of Hanley Media as well as the Founder of Rogue Risk, an insurance solutions company that seeks to innovate the traditional and slow approach to getting insurance coverage. He has extensive experience in content marketing, using social media to generate leads, and insurance plan customization. Ryan also regularly hosts customized marketing workshops and has presented keynote speeches on a variety of stages, including at the Agents of Change Conference, on topics related to leadership, marketing, and sales for growth-focused companies and organizations.
Ryan joins us today to discuss what Rogue Risk is all about and how they can innovate the customer-agent experience. He shares why he left his previous company and started Rogue Risk and describes the current problems plaguing the industry regarding customer experience. He shares his thoughts on today’s new entrepreneurs and the opportunities that present themselves in the industry. He also discusses the benefits of networking and attending events and explains why he believes being an insurance agent is one of the best jobs in the world.
“It is so much less about what you actually do, and much more about the expectations that you set and how tightly you adhere to those expectations.” - Ryan Hanley
Today on Spot On Insurance:
- Ryan’s experience as an entrepreneur and what he wants to achieve in 2020.
- The mistakes he made early in his career.
- The risks of tampering with a system customers are accustomed to.
- When he realized he wanted to start his own agency.
- The challenges he encountered as an entrepreneur.
- What networking did for his business.
- Why being a property-casualty insurance agent is the best job in the world.
- His thoughts on the opportunities to be entrepreneurial today.
Key Takeaways:
- You don’t always have to upgrade your system. There is wisdom in the saying “If it ain’t broke, don’t fix it.”
- Being your own boss means never having just to say yes when you actually want to say no.
- Many entrepreneurs fail because they think owning a business is a get-rich-quick scheme.
Resources Mentioned:
- Ep. 68: Embracing The Power Of Digital Sales
Connect with Ryan Hanley:
- Official website
- Hanley Media
- Rogue Risk
- Email: ryan@ryanhanley.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Today’s spot on insurance COVID-19 guest Randi Ellias serves as one of the co-chairs of Porter Wright’s annual Women in Reinsurance program, she is Chair-elect of the Excess Surplus Lines and Reinsurance General Committee of the American Bar Association’s Tort Trial and Insurance Practice Section and is a member of the Publication Committee of AIRROC.
Randi focuses her practice on complex commercial litigation and arbitration, including complex insurance coverage disputes and reinsurance matters. She counsels clients on coverage issues, claims handling, and contract wording issues, including the drafting of settlement agreements and commutation agreements.
She joins us to discuss the Impact Of COVID-19 On Business Interruption Coverage.
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Troy Korsgaden is the President of Korsgaden International, an insurance business development company that offers consultation and growth services for insurance carriers. He has over 30 years of experience in consulting and advising insurance and financial executives, brokers, agents, and team members. Troy is also an author of several books about success, agency management, and partnership, including Discussion Partner: A Radical Transformation to Unrivaled Service for Insurance Customers, Power Position Your Agency: A Guide to Insurance Agency Success, and Success and Sanity: Finding Balance, Peace and Purpose in a Pressure-Packed World.
Troy joins us today to share how he became one of the country’s leading insurance and financial consultants. He describes some of the challenges he experienced and how he managed to overcome them. He explains what a real insurance company should aspire to do when it comes to attracting and retaining customers and why he believes customers shouldn’t conform to what a carrier wants. Troy also discusses why he started writing books and highlights what each one is about.
“If you don't put the customers first, you’re not in the right business.” - Troy Korsgaden
Today on Spot On Insurance:
- Troy’s journey to success and how he got to where he is today.
- Some of the highs and lows of his career.
- The challenges he encountered that almost made him give up.
- His struggles with alcoholism and how he affected his business.
- Why customers shouldn't conform to what carriers want.
- How to have a cycle of continuous improvement.
- Why fear is the hurdle many people can't get over.
- The reason he started writing books.
- His thoughts on technology and personal coaching.
- What Troy wants newcomers to know about getting started in insurance.
Key Takeaways:
- If you give people enough reasons, they'll do anything.
- The worst time to figure out what type of insurance you have is at the time of a claim.
Connect with Troy Korsgaden:
- Korsgaden International
- Book resources
- Email: troy@korsgaden.com
- Support team: support@korsgaden.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Taylor Teague Jones is the Business Development Director at Questpro, an insurance and risk management staffing company, with extensive experience in commercial insurance and college recruitment. She started her career as a regional recruiter for the University of Kansas - her alma mater. Her journey in the insurance industry began when she worked for a large insurance broker, handling campus and corporate recruitment projects.
Taylor joins us today to share the best and worst practices when it comes to job interviews. She discusses the importance of knowing not just the company, but also some of their core team members. She describes what her journey was like and how recruitment led her to be part of the insurance industry. Taylor also explains why you should check your own social media presence before submitting a resume.
“When you show up, and you know who they are and you apply that in your interview, it's an integral piece of having a dynamic conversation with your interviewer.” - Taylor Teague Jones
Today on Spot On Insurance:
- What Taylor's journey was like and how she became part of the insurance industry.
- Her career in teaching and how she transitioned to recruitment.
- The type of people she's recruited and their different educational backgrounds.
- How to best attract the youth when it comes to opportunities in the industry.
- The top reasons why an employer would select a candidate.
- Best practices for those who are going to be interviewed by a recruiter.
- What you should not do during the interview.
- How social media affects your hiring chances.
- The best ways to reach introverts with potential.
Key Takeaways:
- Saying yes to new and exciting opportunities are key to people new to the industry.
- Knowing who your interviewer is and their job is just as important as the company you’re applying for.
Resources Mentioned:
- Book: Network Beyond Bias
Connect with Taylor Teague Jones:
- Questpro
- Email: Tjones@questpro.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Tara Kelly is the President and CEO of SPLICE Software Incorporated. SPLICE is a program that improves customer engagement by automating messages and workflows and managing privacy, consent, and preferences in one platform. Tara is also the author of Our Journey To Corporate Sanity, where she highlights the craziness of valuing profit over well-being and how leaders can provide a humane working environment for their team.
Tara joins us today to share how SPLICE can improve the way companies engage with their customers. She shares how her interest and fascination about programming began at an early age and she decided to create SPLICE. She discusses her book, what it is about, and what readers can learn from it. Tara also shares the one new technology she looks forward to being applied more in the insurance industry.
“Just do what you love and show up as you.” - Tara Kelly
Today on Spot On Insurance:
- How Tara achieved a well-accomplished career and her journey to success.
- What fascinated her about programming as a young child.
- The reason she started SPLICE and how it works.
- What an average SPLICE customer looks like.
- How SPLICE can integrate into our lives and make it easier.
- What her book Our Journey To Corporate Sanity is about and the lessons readers can learn from it.
- A new technology she's looking forward to seeing in the industry.
Key Takeaways:
- The internet is a vast place of information and people can be easily misled into using it for the wrong purposes.
Connect with Tara Kelly:
- SPLICE
- Our Journey To Corporate Sanity book
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Safiya Reid is the Reporting Compliance Manager at PURE Insurance, a member-owned insurer and specialist group of companies. Before her work at PURE, Safiya served as the Director of Plaza Research, where she managed qualitative research projects, established and implemented procedures, and assisted in doubling the projected revenue for the company within the first quarter through innovative technology and operational initiatives. She has extensive experience in the Pharmaceutical, Merchant Processing, Radio, and Market Research industries in addition to insurance. Safiya received her Bachelor of Arts in Economics from Spellman College and went on to earn a Master of Arts in Communication from Georgia State University.
Safiya joins us to share her professional journey from growing up in Brooklyn to her entry into the insurance industry. She shares her insights into networking and professional advancement and how to make your mark in any industry. Safiya also highlights how being your genuine self can impact your career trajectory and why you should continually invest in your professional development.
“Be authentically yourself.” - Safiya Reid
Today on Spot On Insurance:
- Safiya’s upbringing in Brooklyn and what she loves about her current life and work in Atlanta.
- What Safiya’s career aspirations were at a young age and the program she credits for her development.
- What Safiya studied in university and insight on her college career, including her experience with being in a sorority.
- Safiya’s experience with transitioning from retail to the insurance industry, and her professional growth journey with Pure Insurance.
- Why networking matters and Safiya’s approach to it.
- The idea of a “reverse career fair” and why Safiya believes it is useful.
- Community initiatives Safiya is involved with and how she invests in herself.
- Advice for students thinking of entering the insurance industry or pursuing any professional path.
Key Takeaways:
- Embrace every opportunity to take on new challenges and responsibilities within your company, as doing so is a chance to open doors that can lead to promotions and professional success.
- Know when to say you don’t know the answer and be diligent with following up and finding the information you need.
- If you aren’t taking care of your brain, you won’t take in information - no matter how many professional development events you attend. Embrace self-care.
Resources Mentioned:
- Legal Outreach
Connect with Safiya Reid:
- Email: sreid@pureprograms.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Zain Hasan is the Managing Director of Risk Strategies, a brokerage that provides risk management consultancy and insurance services. Zain is a serial entrepreneur and an expert in employee benefits. His success is attributed to his passion for fixing the broken healthcare system that is deeply embedded in the health insurance brokerage industry. As Managing Director, his responsibilities include reducing their total cost of risk as well as outsourcing every risk management activity.
Zain joins us to share his journey of becoming a serial entrepreneur and what eventually led him to start his first company. He describes his journey from childhood to becoming the professional he is today, why he sold his first company, and the contingencies he put in place. Zain also discusses how his family influenced his decisions and why you should always have an advisory board if you can afford it.
“Passion comes from practice.” - Zain Hasan
Today on Spot On Insurance:
- What Zain's life was like growing up and the various hobbies, sports, and volunteer programs he participated in.
- When he decided to work in insurance and when it took off.
- The story involving a big account, a job interview, and their first client.
- Zain’s ideas on how he can improve healthcare costs.
- Why he decided to sell his first company and how it was sold.
- The criteria he considered when he sold his first company and how he benefited from selling it.
- How his family affected his business decisions.
- The kind of people he wants to work with.
- His thoughts on having an advisory board.
Key Takeaways:
- You can triple your money investing in private equity in five years if they're the right investment pieces.
- Having two people who have experience can save you from years of lost money and poor decisions.
- Without capital, you don't have the luxury of investing for two years to try to win a client.
Resources Mentioned:
- Think and Grow Rich by Napoleon Hill
- The Go Giver by Bob Burg
- The Outward Mindset by The Arbinger Institute
Connect with Zain Hasan:
- Phone: (954) 210 5300
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Jason Andrew is the CEO of Limelight Health, a company that helps insurance providers automate and streamline sales through their platform. He has over 20 years of experience in executive management and leadership and was named one of 30 innovators to watch in 2019. Before founding Limelight, Jason held vice president and CEO positions in various tech companies throughout Silicon Valley.
Jason joins us today to discuss what Limelight can do to innovate the way insurance is sold and used by both sellers and buyers. He describes how he found success in Silicon Valley, why he’s passionate about working in the insurance industry, and what inspired him to become an entrepreneur. He explains how Limelight works and the automated services it provides. Jason also shares what he wants to see in new startups, how best to innovate the industry, and shares his advice to people that are thinking about starting a career in the insurance industry.
“All of us get what we get because of the relationships and the people who help us.” - Jason Andrew
Today on Spot On Insurance:
- How Jason changed his life for the better and when he started his career in insurance.
- Why he loves working in the insurance industry.
- When Jason started thinking about becoming his own boss.
- The trends he saw take place in the previous year.
- Why the insurance industry is slow-moving in terms of innovation.
- How the Limelight Health platform works and how carriers will benefit.
- The benefits and drawbacks of scaling a startup with outside funding.
- Jason’s plans on working with other groups and startups.
- Advice to new professionals starting in the insurance industry.
Key Takeaways:
- For the first time over the last five years, there's been more money going into insurance than there ever has been.
- Pain is necessary on the way to success.
Connect with Jason Andrew:
- Limelight Health
- Email: jason@limelighthealth.com
- Phone: 650 533 387
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Kirsten Bay is the CEO of Cysurance, a company that provides affordable cyber insurance to small businesses and their partners. They cover any form of cybercrime, from privacy breaches and identity theft to system damages. Kirsten has over 25 years of experience in risk intelligence, policy expertise, and information management. Some of her notable achievements include being appointed to congressional committees to develop cyber policies and provide recommendations for The White House energy policy.
Kirsten joins us today to share how Cysurance can act as your company’s personal Cyber Coach. She describes scenarios where cybercrime can put a company at risk and how Cysurance can help with that in short notice. She explains how her company works, the systems they have in place, and the services they guarantee to clients. Kirsten also discusses blockchain and how it can affect the cybersecurity landscape.
“It’s a huge process, and insurtech is really becoming the engine that’s driving the change in the insurance industry.” - Kirsten Bay
Today on Spot On Insurance:
- Kirsten’s dream career as a child and how it impacted her career choice as she got older.
- The different companies she's worked with.
- The financial impact of cyber risk.
- How the industry has innovated to reduce cybercrime.
- How technology enabled new skill sets to be learned.
- The unique way Cysurance is helping businesses.
- Why cybercrime can cost America billions of dollars.
- Why their system is user-friendly and can be used at home.
- Why ransomware victims shouldn't try to act by themselves.
- Examples of how their cybersecurity services work.
- Blockchain and how they can provide cybersecurity
Key Takeaways:
- It's very difficult to anticipate what criminals are going to do.
- We don't really know the true value of our companies.
- The data question is becoming the ultimate question because everything sits underneath it.
Connect with Kirsten Bay:
- Cysurance
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Chester “Chet” Gladkowski is in charge of Customer Development at GoKnown, a company that describes itself as the next chapter in distributed ledger innovation and offers products and services that utilize blockchain technology. Chet is a recognized leader in insurance and IT, with extensive experience in providing strategic and practical insights. Some of his specialties include general technology trends, motivational topics, and insurance-related business and technology.
Chet joins us today to share how insurance companies should choose which tech to adapt into their organization. He describes how he found a career in insurance, how it changed his “boring” perspective of it, and why he considers it a noble industry. He explains what GoKnown can do and how they use blockchain to support their services. Chet also discusses why insurance companies will be at a turtle’s pace when it comes to choosing which new technology to use.
“The technology should match and follow the direction of the business.”- Chet Gladkowski
Today on Spot On Insurance:
- Chet's journey, his extensive career, and why he didn't become a teacher.
- The reason he joined the insurance industry.
- The funny story of why he wrote about Popeye's and Insurtech.
- How companies should choose technologies to fit their market.
- Blockchain and how it became the talk of the insurance industry.
- What legacy blockchain is and why it's not good for large companies.
- The problem with Bitcoin security and maintaining value.
- What the GoKnown company stands for and their focus.
- The benefits of working with their company and how they work with blockchain tech.
- Why the insurance industry specifically will take their time adapting to new technologies.
- Chet’s advice to those who are seeking gurus in the industry.
- Why insurance is one of the most noble industries to work with.
Key Takeaways:
- In insurance, it's all about people.
- There's no legal tender associated with Bitcoin.
- Adopting technology can be a struggle and you will have bumps in the road.
Resources Mentioned:
- Popeye’s Chicken, IT And Insurance blog
Connect with Chet Gladkowski:
- GoKnown
- Phone: (863) 676 2621
- Email: cgladkowski@goknown.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Will Duffy is a Chartered Financial Consultant (ChFC) for Accelerated Wealth, a wealth management firm that customizes wealth creation strategies for each client. He is the author of The Other Side of the Coin, where he talks about mortgages and compound interest. He is also a Retirement Income Certified Professional (RICP) and an Enrolled Agent (EA). The best testament to Will’s expertise on the subject of wealth creation and management is how he became a millionaire at 33.
Will joins us to discuss the best ways you can take advantage of compound interest and wealth management before you retire. He shares where he found his passion for building wealth and explains some of the laws that can benefit business owners regarding tax benefits and tax avoidance. Will also describes the changes he enacted in his life that allowed him to become a millionaire at a young age.
“Cookie-cutter approaches just don’t work in this day and age.” - Will Duffy
Today on Spot On Insurance:
- What his life was like while growing up and when he became passionate about wealth creation.
- His favorite sport and how it affected his college degree of choice.
- Why he has so many designations and what made him pursue them.
- The important aspects of financial planning that are often neglected.
- Reactive tax planning vs proactive tax planning.
- Financial strategies that can help businesses with tax benefits.
- Why most businesses fail today and what causes them to fail.
- Why working less is a significant event in people's lives.
- The different ways to properly exit a business as an owner.
- Why compound interest is at the center of wealth creation.
- What to expect from the book The Other Side of the Coin.
- How people can take advantage of the Roth IRA.
- The tax benefits Will now has after he moved to Puerto Rico.
- The changes that allowed him to become a millionaire at 33.
- His advice to those who want to become successful in this industry.
Key Takeaways:
- In a perfect world, you would begin planning for selling your business about two years before you sell.
- If you mess up the biggest purchase in your life, that's going to have a negative impact on your overall well-being for the rest of your life.
- As you grow, as you build businesses, you really need to be working on creating a team around you.
Resources Mentioned:
- Book: Nothing Down by Robert G. Allen
Connect with Will Duffy:
- Accelerated Wealth
- Email: will@duffymethod.com
- Phone: (720) 600-7070
- The Other Side of the Coin - Mortgages
- The Other Side of the Coin - Compound Interest
- Roths for the Rich
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Michael Mensch is a Client Advisor and Managing Partner for Agency Brokerage Consultants. As a consultation company, they are experts in the valuation, sale, and acquisition of insurance distribution businesses. They work with retail agencies, wholesale brokerages, and program administrators. Michael has assisted in over 150 merger and acquisition transactions, as well as over 600 valuations of brokerages and insurance agencies. He is also a Certified Business Intermediary and a Certified Merger & Acquisition Master Intermediary.
Michael joins us to share how the business of agency sale and acquisition works. He describes the biggest changes in the insurance industry in the last decade and how agencies adjusted with the rise of insurtech. He explains how to determine the risk appetite of potential buyers and the impact of being underprepared. Michael shares some of their best success stories, as well as a few bumps in the road. He also shares valuable tips for those who may want to start an agency.
“Value is strongly driven by earnings in the business.” - Michael Mensch
Today on Spot On Insurance:
- What his life was like as a student to where he is today.
- The biggest change in insurance over the last 10 years.
- How traditional agencies are partnering with insurtech companies.
- What "not being prepared" in the industry means for agencies.
- Determining the risk appetite of your potential buyers.
- How long it takes to get a winning bid in their business.
- What it means to carry too much risk post-sale.
- Some success stories he's personally witnessed.
- The challenges they encountered in their business.
Key Takeaways:
- If you operate an agency, you need to have a separate trust account.
- The fastest-growing agencies and the most profitable agencies are all specialties.
Resources Mentioned:
- Podcast: Built to Sell
Connect with Michael Mensch:
- Agency Brokerage Consultants
- Email: mmensch@agencybrokerage.com
- Blog: How to Pick the Right Lender for an Agency Acquisition
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Chris Greene is the President of Flood Insurance Guru. As the Flood Insurance Guru, Chris provides flood insurance options that a lot of people didn’t know existed. More than flood insurance services, he and his group also strive to bring flood awareness and education to the world through video. Chris also hosts the Flood Insurance Guru podcast as another means of educating and raising awareness about flood insurance options.
Chris joins us to explain how flood insurance works, its areas of coverage, some of the specific terms used in policies, and how to determine if you should get coverage. He discusses how flood maps work and how changes can affect flood insurance coverage. He describes the type of situations that qualify people for flood insurance. Chris also shares how they grew as a company and his success tips for new professionals in the industry.
“The closer you are to the flooding risk, the higher your premiums are going to be.” - Chris Greene
Today on Spot On Insurance:
- How Chris started his business in flood insurance.
- What it was like to grow up with a learning disability.
- Defining flooding in the US and what flood insurance covers.
- The only two situations that flood insurance pays out.
- Determining people who need or are qualified to get flood insurance.
- Why the government created the National Flood Insurance Program Forum.
- Do you still need flood insurance after you sell the house?
- How Flood Insurance Guru’s market their services to clients.
- Chris’ success tips to those just entering the industry.
Key Takeaways:
- Arizona has more floods than every other state in a given year.
- Almost 50% of low flood zone risks borrowers think they're ineligible and can't buy flood insurance.
Resources Mentioned:
- Federal Insurance & Mitigation Administration
Connect with Chris Greene:
- Flood Insurance Guru
- Podcast
- YouTube
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Dave Davis is the Chief Technology Officer at Fudge Insurance, a family-owned, independent agency that offers custom-fit insurance policies to individuals, families, and businesses. Before joining Fudge Insurance, Dave spent 19 years with Intel as part of a cloud and data center support team. Because of his technical expertise, Dave’s responsibilities are focused on cloud service models, server design, and cybersecurity mitigation.
Dave joins us to share the importance of having people skills and tech awareness in insurance. He describes what his life was like before becoming a technology professional, his time at Intel, and the reason why he joined the insurance industry. He explains some of the tech problems the industry faces and why he says independent agencies are overwhelmed.
“The best sort of technology happens organically and grows over time.” - Dave Davis
Today on Spot On Insurance:
- Discussing the earthquake that recently happened in Puerto Rico.
- Where it all began for Dave and when he joined the insurance industry.
- His time at Intel, his responsibilities, and why he left.
- How his family influenced the career he wanted to build.
- The time when he felt separation anxiety from being a technical person.
- How and why he began working in insurance.
- How the tech problems the industry was experiencing made him switch careers.
- Prioritizing work-life balance and family time.
- His realizations to the industry's relationship with technology.
- Why independent agencies are overwhelmed with new technology proposals.
- What a CTO does and his responsibilities at Fudge Insurance.
- The conferences he plans to attend in 2020.
Key Takeaways:
- It can take years to develop a base set of skills for people leadership and management.
- The independent agent channel is like the Wild West. Independent agency owners are overwhelmed with all sorts of new technologies.
- Insurance and technology are almost inseparable these days.
Connect with Dave Davis:
- Fudge Insurance
- Email: dave@fudgeinsurance.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Vivek Sethia is the Co-Founder & Director at Beyontec Solutions, a software company and insurance solutions provider. The business has a core focus on customers with property and casualty business needs. Throughout his journey, Vivek gathered over 20 years of experience in business development, operations management, general management, and sales and marketing. As Director, he is responsible for Strategic Relationships and Sales.
Vivek joins us to discuss what Beyontec Solutions offers its clients and what their suite of services can do to improve insurance businesses. He explains why Beyontec was founded and the problems they seek to solve for their clients. Vivek shares various reasons why businesses should choose Beyontec over other insurance solutions. He also discusses how they handle private data and their preventive measures from possible cybersecurity issues.
“There is a compelling need for the insurance industry to go as digital as possible.” - Vivek Sethia
Today on Spot On Insurance:
- Where Vivek grew up, his dreams as a child, and his business background.
- Why he chose to live in the US despite having been to other nations.
- The problems Vivek saw in the insurance industry that made him start Beyontec.
- Why carriers should choose Beyontec over other groups.
- What a typical client transaction would look like using Beyontec.
- The ease of transitioning from one system to theirs.
- The digital services they offer to clients and how they work.
- Cybersecurity and how they secure private data.
- The course of action Vivek suggests to principals and executives to ensure growth in 2020.
- How their system works and the services it automates.
- The analytics of cost-saving from the client's point of view.
- The mindset that newcomers to the industry should have.
Key Takeaways:
- Implementing automated insurance solutions is always a long term decision.
- Every possible technology company has a lot of focus on newcomers.
Connect with Vivek Sethia:
- Beyontec
- Email: viveks@beyontec.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Roe and Don Polczynski are the owners of the RD Advisory Group, a company that provides organizational guidance in employee engagement, leadership development, strategic planning, team dynamics, and generation integration. They are also the authors of Changing Your Equation, a personal leadership book that represents their passion and experiences of helping others find success in their lives.
Roe and Don join us to share their passion for helping others achieve success. They discuss their lives before they founded RD Advisory Group and the story of how they met. They explain where their love for providing career advice is drawn from and how they work with clients. They describe some of the problems many companies encounter, especially when it comes to budgeting and how hiring a Fractional CFO can solve them. Roe and Don also share their best tips for someone who is just entering the industry.
“The typical owner gets so enthralled working in the business that they don't take time out to work on the business.” - Roe Polczynski
Today on Spot On Insurance:
- How Roe and Don met and what their life was like when they were younger.
- How they decided to start a business in insurance.
- The importance of having a mentor.
- What they offer kids when it comes to career counseling.
- The stories they can never forget and what they learned from them.
- What companies are missing out on and how Fractional CFOs can help.
- The one question agencies never ask enough.
- The kind of expertise agencies should expect from a bookkeeper.
- Focusing on the budgeting weak spots of agencies.
- How they work with clients who seek help with business growth.
- Why every contingency dollar is valuable.
- Getting an agency started in the CFO program.
Key Takeaways:
- Every agency needs a fractional CFO for their financing strategies.
- The risk is the interpretation of the results.
- A 1-year plan is better than no budget, but a 3-year plan is still an opportunity.
- A 90% retention rate over 5 years means you almost lost half of your book of business.
Resources Mentioned:
- Insight Performance
- Elevate Conference
Connect with Roe Polczynski:
- RD Advisory Group
- Phone: 315 368 8661
- Email: RoeP@RDAdvisoryGroup.com
- YouTube
- Changing Your Equation
Connect with Don Polczynski:
- Email: DonP@RDAdvisoryGroup.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Rick Fox is the Vice President of Agency Associations and Networks at Vertafore, a company that offers software solutions to insurance companies large and small. The programs they developed are used every day by thousands of insurance agencies and carriers across 23 states. Rick previously left the company in 2014 to work on several projects, among them the Agency Revolution, where he held the position of President. In addition to what his position entails, Rick is also the host of Vertafore’s official podcast.
Rick joins us today to discuss what Vertafore is about, the services they offer, and the tools they developed for insurance agencies. He shares how he stumbled into his career in the insurance industry and how his company helps insurance agencies and carriers grow their business. He discusses how technology has impacted the insurance industry, why it’s either technology-driven or consumer-driven, and what insurance agencies need to focus on to enhance their company’s growth. He also discusses the Reference Connect and Risk Match platforms and how they help agencies and carriers diversify and grow their businesses.
“The biggest changes have come with the advancement of technology and the use of technology.” - Rick Fox
Today on Spot On Insurance:
- How Rick stumbled into insurance.
- Developing a fondness for coaching and volunteerism.
- What Vertafore is and what his position entails.
- Why he returned to working with Vertafore.
- The changes he's noticed in the independent agent industry.
- Why the biggest changes in insurance are technology and consumers.
- The strategies he used to grow his businesses.
- What agencies are not doing enough that slows growth.
- Using tools and data to build a business strategy.
- Great business practices for agencies to implement this new year.
- Reference Connect, Risk Match, and what these two platforms do.
- Why he was chosen to host the company's podcast.
Key Takeaways:
- If you found something that can really change the way your office runs, do it. Get into it.
- Using data can give your business the right kind of leverage during the planning stage.
Resources Mentioned:
- Agency Revolution
Connect with Rick Fox:
- Vertafore
- Vertafore Insurance Podcast
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Drew Yancey is an Advisor for InCite Performance Group, a company that provides concierge consulting services tailored towards independent insurance agencies in the US, Canada, and across Latin America. He is also part of the team behind Ambassador Captive Solutions, a company that aims to help clients with risk management and alternative risk financing. Drew describes himself as someone who wants to continually learn and demonstrates that by having attended five colleges, including Oxford University and the University of Birmingham from 2003 to 2018.
Drew joins us to discuss the importance of risk management and what it takes for independent agencies to grow beyond their scope. He shares what life was like growing up in a family that has owned a food service distribution company for multiple generations. He explains how he works with clients and the steps he takes when they ask for consultations. Drew also discusses captives and the different ways organizations can use them for their business.
“How you manage risk is often the difference between surviving and not.” - Drew Yancey
Today on Spot On Insurance:
- Drew's journey and what it's like to have a multigenerational family business background.
- Why he didn't choose to be in the food service distribution industry.
- Why he loves to travel and what he's searching for.
- Becoming part of the insurance industry and what made him stay.
- How independent agencies can grow beyond what they are capable of.
- The strategies he uses to help independent agencies.
- What captives are and the organizations that should use them.
- What the brokerage community should focus on.
- The drawbacks of ignoring risk management for your company.
- Problem-solving in complex risk environments.
- Recent innovations he's watching that will change the way the industry works.
Key Takeaways:
- If someone's coming to you and starting the conversation about captives with tax incentives, run as far away from that person, as quickly as you can, because that is one of the worst ways to start the conversation.
- Risk management is not optional.
Connect with Drew Yancey:
- InCite Performance Group
- Ambassador Captive
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Elaine Nance from the Marketing Team at Insurance Licensing Services of America (ILSA) shares her dos and don’ts for protecting your information systems from internal threats. Her secret for success: Make data security part of your day-to-day business activities, especially your hiring and firing process.
And if you only learn one thing from this podcast, let it be this: Share information about cyber threats and data security measure with everybody – from the boardroom to the newest hire or intern – because everyone contributes to your data security.
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Thalia Toha is an expert in providing brand and business strategizing services to busy entrepreneurs. She has over 20 years of experience working with 7-figure national brands and various S&P companies, helping them solve long-term growth challenges that translate to bigger earnings. Before becoming a business advisor, Thalia practiced real estate for more than 10 years in the New York and Washington, DC areas. She is also part of NAI Global as Advisor.
Thalia joins us today to share some of the best business secrets for top performers in any industry. She shares her dreams and aspirations as a young girl growing up in Indonesia and what led her to study at Princeton University. She explains how entrepreneurs should manage their time and set their priorities. She discusses the importance of having a website with content that tells your company’s story without alienating the audience. Thalia also shares her “strength to strength” strategy and why it’s effective for lead conversion.
“To be successful, you just have to take small steps.” - Thalia Toha
Today on Spot On Insurance:
- Thalia’s dreams and aspirations when she was still in school.
- Her experience in high school with being different and surviving it.
- Managing multiple priorities as an entrepreneur.
- Why setting up a website for your business is key to success today.
- The amount of time business owners should spend discussing problems and solutions.
- The type of online content that converts leads.
- The right time to use jargon in your specific industry.
- What a proper response should be on client inquiries and interviews.
- What the "strength to strength" strategy conveys.
- Her podcast and the way business owners can use it as a reference for strategies.
- Using video to have human-to-human conversations with leads.
Key Takeaways:
- A client's first impression is likely to come from your website.
- If you're genuine, clients will ask you about you.
Resources Mentioned:
- Podcast Movement
Connect with Thalia Toha:
- Thalia Toha Group
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Insurance Licensing Services of America (ILSA)’s Supervisor for Annual Returns & Corporate Tax Filings, Tameika Johnson shares her dos and don’ts for disregarded entities. Her secret for success: Do your research before you register your business entity with a Secretary of State’s Office. Your filings status will impact whether, when and how much your business needs to pay in corporate taxes.
And if you only learn one thing from this podcast, let it be this: Don’t assume that because you are a disregarded entity that you don’t need to file a state tax return!
Remember, also, there are many factors that go into determining an entity’s taxable status. In today’s podcast we’re discussing ONLY single-member limited liability companies (SMLLCs) that are not owned by a C corporation.
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Jeffrey Brown is the President of VPay, a payment solutions company that helps users have a speedy and seamless experience when it comes to claims through secure electronic payments. Jeffrey specializes in business and corporate development as well as sales. He is also a lawyer, having obtained his JD, Order of the Coif, from the Southern Methodist University Dedman School of Law. Jeffrey utilized his law degree to represent startups and Fortune 1000 companies before his position at VPay.
Jeffrey joins us to discuss how VPay works and the problems they seek to remedy. He shares how he got started working in the fin-tech industry and how VPay was formed. He explains how VPay works, what separates them from other payment options, and how policyholders benefit from their services. Jeffrey also explains why ease of payment is critical in insurance and what he thinks about the rise of blockchain technology.
“The moment of truth for any insurer is how you deliver in a time of need for your policyholders.” - Jeffrey Brown
Today on Spot On Insurance:
- What made Jeffrey choose to have a career in fin-tech.
- How he joined VPay and what it was like at the start.
- The client problems they often encounter and how they solve them.
- How a typical transaction transpires from the viewpoint of a customer.
- Using blockchain in insurance claim payments.
- His thoughts on the rising number of payment apps and innovations.
- Solving the paper problem in insurance claim payments.
- Why the ease of claim payments are fundamental to the customer’s experience.
- How China is spearheading the payment products industry.
- Fraud and why digital payments can reduce fraud risks.
- What users can expect from using VPay.
Key Takeaways:
- The insurance industry has to adapt to a growing mobile market.
- The US insurance market today is about 3.9-trillion dollars. That would make it the 5th largest economy in the world.
Connect with Jeffrey Brown:
- VPay
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Angie Dyer, Tax Compliance Team Leader with Insurance Licensing Services of America, Inc. (ILSA) shares her dos and don’ts for surplus lines zero reporting. Her secret for success: Make sure you’re using the current forms and filing in a timely manner. Penalty fees for past-due filings can rack up quickly!
And if you only learn one thing from this podcast, let it be this: Just because you haven’t done surplus lines business in a state doesn’t mean you don’t have reporting obligations!
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Charles Alexander is the owner of Your Charles Alexander, a video marketing company that provides explainer videos for those who are working in insurance, finance, and people in an advisory role. He is credited for being an expert social media marketer, business developer, and email marketer. Charles is also the Director of the Tennessee Small Business Development Center and works with entrepreneurs to hire competent employees and market their business.
Charles joins me today to share the kind of results you can expect from an effective explainer video. He discusses the difference in attention spans between the Boomer and Millennial generations. He describes the ideal content of a 90-second video as well as the ways you can grab the attention of the audience within the first three seconds. Charles also explains why email marketing is not dead and how newcomers in the industry can benefit from using video.
“Don’t get hung up on the grammar - just make it about the customer.” - Charles Alexander
Today on Spot On Insurance:
- Why Charles pursued a career in video and advertising.
- Using Star Wars as an analogy for the type of business he conducts.
- Why Boomers have shorter attention spans now more than Millennials.
- How to write a video script that converts.
- The factors that make a successful video ad.
- Why email follow-up pieces are still relevant in today's social media world.
- His best recommendations for video marketing best practices.
- Using videos when newcomers are entering the workforce.
Key Takeaways:
- Being authentic and legit always works for video.
- Email is still the same even after a decade has passed, while social media has changed almost every year. Email marketing that worked ten years ago can still work today.
Resources Mentioned:
- Book: Sell With A Story
- Video: Kobe Bryant Untold Stories with Patrick Bet-David
Connect with Charles Alexander:
- Your Charles Alexander
- Email: charles@yourcharlesalexander.com
- Free video tips for listeners
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Mark Evans is the Founder of Standard Sales Co., a sales training platform that focuses on scaling businesses and unlocking the potential of sales teams. He is the author of The Definitive Guide to Building Seven-Figure Sales, a book that teaches how companies can stand out from the competition and become a dominant force in their market. Mark has over nine years of experience working in various positions in key areas such as accounts, recruitment, and sales.
Mark joins us today to share some of the key strategies you can use to maximize your sales team. He shares his journey and how he found his way into a career in sales. He explains why 25% of agencies are going to close their doors, how the lack of ‘new blood’ factors into it, and the common mistakes many agency owners make when they start forming their sales teams. Mark also shares the tools he uses to help streamline his business.
“When we plateau, it's often because we're not having a goal bigger than what we already set.” - Mark Evans
Today on Spot On Insurance:
- How Mark’s journey into sales started.
- Why he says 25% of agencies in the industry can shut down.
- The reluctance of the youth to chase a career in insurance.
- Common mistakes agency owners make when forming a team.
- Assembling a team that has a different type of mentality.
- Establishing a good professional relationship in today's industry.
- The best ways to follow up with a client.
- What the Almighty Power Hour is and how it helps with time management.
- The parts of an effective sales conversation.
- What Mark does to stay on top of his game.
Key Takeaways:
- 1 in 4 agencies can go out of business due to a lack of new agents.
- The average sale or connection takes place after the seventh connection attempt, but most agents give up after the second call.
- The highest priority in sales is filling the pipeline.
Resources Mentioned:
- Unroll Me
- Vidyard
- BombBomb
- The 5 Love Languages by Gary Chapman
- Our First Video Podcast with Patrick Bet-David!
- Ep. 104 The Student Debt Crisis and How Employee Benefits can be the Solution
Connect with Mark Evans:
- Standard Sales Co.
- Book: The Definitive Guide to Building Seven-Figure Sales
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Nate Dingler, Client Services Liaison with Insurance Licensing Services of America, Inc. (ILSA) shares his dos and don’ts for address changes at the state insurance departments. His secret for success: Don’t wait until your renewal is due to notify the DOI of an address change. First, there’s usually a 30-day deadline to notify; and second, having an incorrect address on record can actually delay your renewal.
And if you only learn one thing from this podcast, let it be this: You have to notify ALL states when you move, not just your resident state’s Department of Insurance!
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Raution Jaiswal is the Founder of InsuredMine, a technology company that makes insurance management both easy and intuitive. They developed an app that combines phone, text, and email connections, making it convenient for both agents and customers to use. Raution has over 15 years of experience in project management, project delivery, and professional consultation. He has provided IT Strategy and Consultation services for Fortune 500 companies and is a leader and mentor for both onsite and offsite team members.
Raution joins us today to share what InsuredMine is, what they have to offer agents and customers, and the problems their app solves. He describes his journey growing up in India, studying in the US, and working on Wall Street. He explains why he transitioned into a career in insurance and why he decided to start InsuredMine. Raution also discusses his thoughts on the startup boom in the insurance industry and what sets them apart from their competitors.
“Most great things we do not find. They find us.” - Raution Jaiswal
Today on Spot On Insurance:
- What his life was like growing up in India and working in the US.
- His thoughts on living and working in New York.
- The challenges he encountered growing up and in his career.
- What led him to work in the insurance industry.
- What InsuredMine is, its features, and how it works.
- The features their platform offers to users and the steps it streamlines.
- Who can use their app and why not everyone should download it.
- How they position themselves to stand out in a sea of startups.
Key Takeaways:
- You have to make it easier for both clients and agents to communicate with one another regarding insurance policies.
- An innovative insurance app should promote sales, boost engagement, study and interpret analytics, and be designed for mobility.
- An AI chatbot is only a quick solution for the most basic questions.
- If people have home insurance, they have a 60% chance that they will buy auto insurance from you.
Connect with Raution Jaiswal:
- InsuredMine
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today ILSA’s Annuals & Corporates Manager, Sabrina Slater shares her dos and don’ts for Secretary of State DBA filings and renewals. Her secret for success: Depending on the state, you may need to file your DBA at the insurance department, SOS and/or county level. Make sure you renew your DBA with the right regulator at the right time.
And if you only learn one thing from this podcast, let it be this: Don’t neglect DBA renewals. You don’t want to lose the name recognition you’ve worked hard to create!
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Maksymilia Wandel and Jakub Dryjas are both part of Tensorflight. Tensorflight is a platform that provides instant and automated commercial property inspections powered by AI. Maksymilia is the Head of Key Account Management and holds two law degrees, which she obtained from the University of Miami and the University of Warsaw. Jakub is the Head of Growth and an experienced B2B Marketing Specialist, HR Consultant, and Sales Manager.
Maksymilia and Jakub join us today to share what Tensorflight is, how it works, and how insurance companies can benefit from their technology. They share their journey and experience in the insurance industry, how they met, and what prompted the founding of Tensorflight. They discuss the key differences in regulatory standards between Europe and the United States as well as why their main clients are American. Maksymilia and Jakub also explain how their technology gathers and interprets data in real-time.
“It’s not only the fact that you need to have complete and correct data, but it’s also about the time.” - Jakub Dryjas
Today on Spot On Insurance:
- Jakub's and Maksymilia's journey and how they got their start in insurance.
- Becoming part of Tensorflight and developing the technology.
- Why it was difficult to study law in the US versus Germany.
- How Jakub and Maksymilia met and began working together.
- The reason they started Tensorflight and why they chose to invest in property data.
- How Tensorflight works and how they work with clients.
- How the data they gather can be used by insurance and real estate companies.
- Regulatory hurdles in different countries and their compliance practices.
Key Takeaways:
- Employers are now valuing experience over education, so don't wait until you graduate to get hands-on experience.
- The current underwriting process takes too much time, and companies are losing clients.
- Persistence is necessary for startups.
Connect with Jakub Dryjas and Maksymilia Wandel:
- Tensorflight
- Email: maxy@tensorflight.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Stefanie Cantu, Licensing Supervisor at Insurance Licensing Services of America, Inc. (ILSA), shares her dos and don’ts for license renewals. Her secret for success: Be proactive. States usually open the window for renewals 45 to 60 days before the license expiration date; take advantage of that time.
And if you only learn one thing from this podcast, let it be this: If you do miss the renewal window, don’t write business on the lapsed license. Take care of the renewal first.
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Shane Foss is the Founder and Chief Executive Officer of Hooray Health. Hooray Health is dedicated to providing affordable, primary healthcare services and medical plans for families with medical needs through a wide range of retail clinics and urgent care centers across the country. He has over 21 years of experience in executive positions within the medical industry. Shane started his career in the medical industry as a Surgical Technician for the United States Air Force in 1991. He obtained his Bachelor’s degree in Biology from the University of the Incarnate Word and his MBA in Business Administration and Management from Jesse H. Jones Graduate School of Management at Rice University. Currently, he is a board member, Orthopedic Surgical Technician, and OR Coordinator at Faith In Practice.
Shane joins us today to explain what Hooray Health is, their mission, and the services they provide to clients. He shares his journey from enlisting in the military to furthering his career in the healthcare industry. He explains the broken US healthcare system, his personal frustrations with it, and how his company was founded based on the system’s shortcomings. Shane also discusses how Hooray Health can benefit employers, how their platform works, and his thoughts on robot-assisted surgery.
“The paradigm in healthcare is there’s no correlation between cost and quality.” - Shane Foss
Today on Spot On Insurance:
- What led Shane to pursue a career in health insurance.
- His experience as a surgeon's assistant and how it inspired him to start his business.
- The business strategy they employed to make their services as convenient as possible.
- Why he became frustrated with the US healthcare system.
- Paying for healthcare services in cash vs with insurance.
- Health insurance statistics and providing services to those without insurance.
- The challenges of the limited market and their solution.
- How healthcare benefits impact employee retention rates.
- How their enrollment system works and why it’s convenient for employers.
- His thoughts on the DaVinci surgical system.
Key Takeaways:
- 1 in 5 Americans are sent to collections every year for an unpaid medical bill that's less than $600.00
- The problem is, most places still don't really have a cash price. There's not a consistent marketplace for cash right now.
Connect with Shane Foss:
- Hooray Health
- Phone: 8667-HOORAY
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Insurance Licensing Services of America, Inc. (ILSA) Annuals & Corporates Manager, Sabrina Slater, shares her dos and don’ts for catching up on past-due Secretary of State annual reports. Her secret for success: understand the full scope of your corporate compliance obligations. And remember, just because you’re not actively doing business in a state doesn’t mean you don’t need to file annual returns.
And if you only learn one thing from this podcast, let it be this: Don’t ever ignore a notice from the Secretary of State about past-due annual reports. Respond immediately and ask for guidance, if needed.
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Bryan Falchuk is the Head of Growth at Hi Marley Inc, an InsurTech company that offers a communication tool for the entire insurance ecosystem. Their app is powered by AI and provides carriers with a seamless and modern communication experience for their clients. Bryan is also the author of The 50 75 100 Solution, where he helps the reader become the source of the solution when it comes to problems in relationships.
Bryan joins us to discuss how Hi Marley works, how carriers and their clients can benefit from this product and its potential outside the United States. He describes what the founders of Hi Marley are like and their notable achievements. He explains the need for a seamless way to communicate with customers in the insurance industry. Bryan also shares the importance of finding the right person to share your company’s message.
“Ultimately, your claims systems need to have a complete record of the communication.” - Bryan Falchuk
Today on Spot On Insurance:
- How he got started with Hi Marley and the career backgrounds of their founders.
- Why phone calls are no longer the best way to communicate with your team.
- Speeding up the claims process with Hi Marley.
- The type of claims that their product works really well with and an example scenario.
- How soon large carriers can use Hi Marley and the training involved.
- The companies that can use the software and its potential for international use.
- Beta testing results and plans for continued improvement.
- What to expect from his upcoming book.
- Getting the right person to relay your company's message.
Key Takeaways:
- You have to make sure your company’s representative conveys the message you want the people to hear.
- Being able to communicate with your team through an app that retains your conversations is better than a direct phone call.
Resources Mentioned:
- Ep. 79: Do A Day – To Achieve New Heights In Your Life & Insurance Career
Connect with Bryan Falchuk:
- Bryan Falchuk Official website
- Hi Marley
- Book: The 50 75 100 Solution
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Tameika Johnson, Annuals & Corporates Supervisor with Insurance Licensing Services of America, Inc. (ILSA) shares her dos and don’ts for Department of Revenue Tax Filing Extensions. Her secret for success: keep your dates straight. Know when your fiscal year ends, the deadline for requesting a state-specific extension, and when the extension expires.
And if you only learn one thing from this podcast, let it be this: Even if you file for an extension, you still need to pay your minimum tax amount owed by the original due date.
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Sean Mulhern is an independent agent and the Co-Founder of GloveBox, an app designed to allow users universal access to all of their insurance documents regardless of carrier. More than just consumers, the app also helps agents and carriers increase client retention, reduce servicing costs, and boost brand visibility. Sean has extensive experience with customized insurance policies and building partnerships with mortgage brokers and real estate agents. He also has experience working with Apple as one of their brand specialists.
Sean joins us to explain how the GloveBox app works, the problems it seeks to eliminate, and why the insurance industry has yet to see anything like it. He shares where he found his passion for working in insurance and why he left Apple. He shares how the public’s demand for a convenient way to manage their documents paved the way for GloveBox. Sean also describes the agencies they want to work with for the beta testing period.
“Even if you're very good at managing your documents, it's insurance. We don't want to manage our documents that way.” - Sean Mulhern
Today on Spot On Insurance:
- How Sean’s fondness for technology and insurance began.
- The major pitfalls they found in the insurance industry and how they addressed those gaps.
- What GloveBox is and how it works to streamline insurance products to customers.
- The client needs that drove them to start the company and work on the app.
- The initial feedback they received from their beta testing period.
- Being pressured to release their product and why they're not in a hurry.
- The type of agencies they're looking for to beta test their product.
- His advice for other insurance professionals just entering the industry.
Key Takeaways:
- The likelihood that one carrier is your best bet for everything is just not likely.
- A lot of times, there is a disconnect in communication between the agent and the consumer.
Connect with Sean Mulhern:
- GloveBox
- Email: sean@gloveboxapp.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, ILSA Surplus Lines Supervisor Sherry Groves shares her dos and don’ts for surplus lines zero reporting. Her secret for success: know the zero reporting requirements for each state where you are licensed. Requirements vary widely, as do penalties for non-compliance.
And if you only learn one thing from this podcast, let it be this: Once you’re licensed for surplus lines, you may have compliance obligations – even if you haven’t transacted business.
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Luann Petrellis is an insurance professional that provides advice and consultation services for insurance restructuring and runoff transactions for every type of business. She has over 20 years of experience working in executive positions for global insurance and reinsurance companies such as Berkshire Hathaway, Inc. and White Mountains Insurance Group. Luann earned her J.D. from Temple University and has been named the 2018 Person of the Year by AIRROC.
Luann joins us to discuss the importance of insurance restructuring in the industry. She shares the lessons she learned while traveling the world and why she chose to become a lawyer. She describes how restructuring can help insurance businesses move forward with new management and the improvements that have been made in the industry in recent years. Luann also shares advice for those who may want to follow in her footsteps.
“Sometimes companies don't want to sell the whole company; they just want to sell that book of business.” - Luann Petrellis
Today on Spot On Insurance:
- What her life was like during her childhood and why she became a lawyer.
- How traveling all over the world molded her and the lessons she’s learned along the way.
- Where she found her passion for working in the insurance industry.
- The tool that helps companies sell books of business.
- Why she thought the US insurance market was inefficient when she arrived.
- The changes that took effect once the industry received a better education.
- Her plan to get her message heard in Puerto Rico.
- The advice she would give to those who want to enter the industry.
Key Takeaways:
- You learn a lot by traveling alone because you need to engage with people who may not know your language.
- The pay is sweeter when you enjoy the grind to get there.
Resources Mentioned:
- ARIAS Conference
- Book: Getting Real by Gretchen Carlson
Connect with Luann Petrellis:
- Email: lpetrellis@verizon.net
- Phone: (610) 304-4524
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
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Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Brian Allen, Surplus Lines Supervisor for Insurance Licensing Services of America, Inc. (ILSA), shares his dos and don’ts for using Surplus Lines Export Lists. His secret for success: export lists help surplus lines producers avoid unnecessary diligent effort searches, but be sure to check the most current list. Products are added and removed from export lists all the time.
And if you only learn one thing from this podcast, let it be this: Know the diligent effort search requirements in each state where you plan to write surplus lines policies.
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Justin Foa is the 5th generation head of Foa & Son International Insurance, a family company built around international brokerage and insurance since 1861. He is also an elected Board Chair of the Tanenbaum Center, a charity dedicated to religious tolerance and peacemaking. Before he was the President and CEO of Foa & Son, Justin gained experience outside the company in various executive roles.
Justin joins us today to share the challenges of running a multi-generational insurance company. He explains the origins of Foa & Son, the types of insurance they worked with at the time, and why they transferred from Europe to the US. He shares the lessons he’s learned from his father about business. Justin also discusses what it's like to be the one spearheading IBANY and the family’s legacy.
“Our clients know we're the last line of defense between an unforeseen event wiping out their business.” - Justin Foa
Today on Spot On Insurance:
- Why his company moved to the US from Europe.
- The challenges he experienced in college and leading the company.
- His work experience in various companies with different cultures.
- The lessons he learned from his father regarding business.
- The good and bad aspects of working in a family agency.
- His thoughts on using the latest technology in a traditional agency business.
- The programs his company have that promotes religious tolerance.
Key Takeaways:
- Getting the quote that is wrong for your client or not designed in the most efficient way is a waste of time.
- We are involved in that chain of disaster and disaster recovery.
Resources Mentioned:
- Tanenbaum Center for Interreligious Understanding
- Insurance Brokers Association of New York
Connect with Justin Foa:
- Foa & Son
- Email: justinfoa@foason.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Marisa Boucher from the Licensing Team at Insurance Licensing Services of America, Inc. (ILSA), shares an important update to our previous episode about fingerprint processing. Her big news: Florida now allows non-resident licensing applicants to process their fingerprints electronically through IdentoGO.
And if you only learn one thing from this podcast, let it be this: Licensing requirements and procedures are constantly changing. It’s essential to stay up-to-date on the latest developments.
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John Prichard Jr. is the President of Oli Insurance Services, Inc. OLI is a company that helps other companies grow bigger and function better through market access, back-office support, and technology solutions. He has experience in executive management, industry practice development, and business outsourcing. He attended the University of the Pacific for his Bachelor of Science in Business Administration.
John joins us to share his journey in the insurance industry and the reason he started OLI. He explains why the insurtech industry is an exciting, yet sometimes disappointing, industry to work in. He discusses how his company selects the agencies they work with and the services they offer. John also shares valuable advice for those who want to start an insurtech company and what their goals should be.
“The customer behavior these days is so different than it was five years ago, let alone ten years ago.” - John Prichard
Today on Spot On Insurance:
- Where he discovered his passion for insurance.
- Why he didn't want to work in the family business.
- The services they offer and their objective in the insurance industry.
- How they help agencies who partner with them.
- His thoughts on insurtech and how they validate different tech solutions.
- The types of agencies they work with on a regular basis.
- The classes they offer and why they mostly host them online.
- Important strategies new companies need to succeed.
Key Takeaways:
- Understanding what your customer wants and needs is key.
- No insurtech company is created equal.
Connect with John Prichard:
- OLI
- Email: johnpjr@oliins.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Kristy Roberts, Licensing & Compliance Manager for Insurance Licensing Services of America, Inc. (ILSA), shares her dos and don’ts for Carrier Contracts and Appointments. Her secret for success: The appointment process varies from state to state. Fortunately, your carrier can let you know which states allow just-in-time appointments.
And if you only learn one thing from this podcast, let it be this: Don’t wait until the last minute to establish your relationship with an insurance carrier.
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Download Zach’s Instagram Tips and Tricks (PDF)
Zach Benson is the Founder of Assistagram. Assistagram is a company that aims to help clients grow their Instagram accounts through a multitude of organic growth strategies and creative campaigns. He and his company have worked with big brands such as The Four Seasons, Ritz Carlton, and the Dubai Board of Tourism. Before he became the founder of Assistagram, Zach chased his passion for dancing, appeared in TV shows, and won various competitions.
Zach joins us to explain why your business needs to be on Instagram and shares tips on how to improve your profile today. He describes his life growing up, why it was difficult, and how dancing improved his confidence. He shares the injury that almost caused him to give up dancing and why it led him to start a business centered on Instagram. Zach also discusses some of the critical parts of growing an account, common mistakes businesses make, and why a serious company should hire a VA.
“Life is all about connecting with people and connecting with them on a deeper level.” - Zach Benson
Today on Spot On Insurance:
- Zach’s current travel and business plans and the number of places he went to in 2018.
- What it was like to grow up with a South Korean background.
- How his passion for dancing started and how he used it to fit in.
- The challenges he encountered while trying to chase his dream in dancing.
- What made him pivot to Instagram and when his career in Instagram marketing began.
- Utilizing Instagram in the best and most efficient manner.
- Hashtags and how to make them as unique as possible.
- How not to be punished by Instagram and a few tips to improve your profile.
- Why you should consider hiring a VA for your Instagram account.
- Why it's a two-way street between you and your followers.
Key Takeaways:
- Instagram rewards you when people spend more time on their platform and utilize all the features.
- Part of becoming successful is hearing your critics and still pushing through.
- Not engaging or rewarding new followers after a campaign will lead to a significant decline.
Connect with Zach Benson:
- Assistagram
- Email: benson.zack@gmail.com
- Download Zach’s Instagram Tips and Tricks (PDF)
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Insurance Licensing Services of America, Inc. (ILSA) Licensing & Compliance Supervisor, Stefanie Cantu, shares her dos and don’ts for Continuing Education Tracking. Her secret for success: Know what your current CE requirements are. They vary from state to state and from license type to license type, and requirements do change over time.
And if you only learn one thing from this podcast, let it be this: Follow through on CE credit reporting. Not all CE course providers send your credits to the state automatically … or in a particularly timely manner.
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Jonathan Mentor is the Founder and CEO of Successment, a platform that aims to promote daring solutions and tech innovations within the employee health space. Jonathan founded Successment out of a passion for improving employee health and experiences within their respective companies. Before starting his company, Jonathan represented Foa & Son Corporation as their Benefits Account Executive and has a diverse background in startup marketing, HR, and global health consulting.
Jonathan joins us today to share what Successment is all about and how it can help both employee and employer form better relationships and to better understand one another. He explains the need for this kind of platform and how benefits awareness transforms employee health. He describes how the platform works and what their services entail. Jonathan also shares advice for those who want to innovate the insurance industry with an original idea.
“Sometimes you enter into the world and you want to mimic what it is you see around you, and you don't realize the value of being a trailblazer and being an innovator.” - Jonathan Mentor
Today on Spot On Insurance:
- The inspiration for his latest projects around the employee benefits space.
- How he got the financial backing of some big companies in the industry.
- His role in communicating about the health and technology space.
- The struggles he experienced as a broker.
- Why the employees are the beneficiaries of Successment.
- His marketing strategy for Successment.
- His advice to people that want to build their own passion projects.
- How Successment works and the services they offer.
Key Takeaways:
- If the procurement department within HR doesn't know that there are better ways of doing things, they won't be able to move forward.
- In 2019, employers are looking to solve different problems, but they're not always aware of all the solutions available to them.
Resources Mentioned:
- Ep.104: The Student Debt Crisis and How Employee Benefits Can Help
Connect with Jonathan Mentor:
- Successment
- Email: Hello@successment.co, jonathan@successment.co
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Joyce King, Quality Assurance Administrator for Insurance Licensing Services of America, Inc. (ILSA) shares her dos and don’ts for Corporate affiliations and terminations. Her secret for success: Keep your affiliations up to date. When an agent joins your team or leaves to pursue other opportunities, submit any needed affiliations or terminations in a timely manner – usually within 30 days.
And if you only learn one thing from this podcast, let it be this: Some states require you to report agency affiliations for producers other than your Designated Responsible Licensed Producer (DRLP).
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Kevin May is the Founder of Amali Solutions Group (ASG), a platform that seeks to cut through the tedious processes involved in subrogation. They developed SubroPro, a subrogation solutions program that systematizes more than 70% of inbound recovery payments. Kevin has over 30 years of experience in the insurance industry and has previously held two CEO positions at two other subrogation claims companies before founding ASG.
Today, Kevin joins us to discuss what Amali Solutions Group is all about and how they plan to solve the problem of slow claims processing. He shares how he got started in insurance, why he never left, and his motivation in starting ASG. He describes a typical subrogation claim, the tedious manual processes involved, and the areas they want to speed up. Kevin also explains how SubroPro works and the type of data it gathers that the industry can utilize.
“Be flexible; work hard. When you're discouraged, go take a walk and then come back and go at it again.” - Kevin May
Today on Spot On Insurance:
- How Kevin got started in the insurance industry.
- Why he decided to start Amali and what the name represents.
- What subrogation is and why people should care about it.
- An example of a typical subrogation claim and how clients can benefit from it.
- How subrogation has changed over the last two decades.
- The challenges their company is facing to help this specific industry.
- What SubroPro is and how it works when processing claims.
- Data rights, monetization, and who can have access to information.
- His thoughts on blockchain technology and their plans to utilize it.
Key Takeaways:
- We no longer communicate by picking up the phone and making a call. Companies need to adjust to that trend.
- It's not really an issue of the check itself; it's all the work that has to go around to apply dollars to each of those indemnities.
Connect with Kevin May:
- Amali Solutions Group
- Email: kevin.may@amalisg.com
- Phone: (309) 830 4907
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, ILSA’s Annual Returns & Corporate Tax Filings Manager, Sabrina Slater, shares her dos and don’ts for choosing a corporate name. Her secret for success: Come up with several name choices that meet the naming criteria for all the states where you’ll be doing business. Your first choice might already be in use!
And if you only learn one thing from this podcast, let it be this: Be sure your corporate name accurately reflects what you do – whether you’re an agency, broker, carrier, etc.
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Aaron Gordon is the Vice President of Gordon Companies - Insurance Services. Gordon Companies specializes in risk management and has been in the insurance business since 1968. Aaron represents the second generation of the company, with his father being its founder. His responsibilities include managing agency relationships, working on day-to-day activities of various groups, and supervising claim data and the company’s management systems.
Today, Aaron joins us to share what it’s like to be part of a large family-run business and how it all started. He shares his humble beginnings and what piqued his interest in the insurance industry. He discusses the benefits and drawbacks of managing a family business. Aaron also explains some of their company’s upcoming plans for branching out and offering new services to their clients.
“I believe this is a service business. We sell a promise. We have to be there.” - Aaron Gordon
Today on Spot On Insurance:
- What Aaron’s life was like growing up and how he entered the insurance industry.
- The highs and lows of managing a family business.
- Why he doesn't want to push his kids into managing the business.
- His personal goal for his parents and their family business.
- What he does to take their agency to the next level.
- The areas he is responsible for, but his parents haven't worked on.
- How he got the CAPI Certification and what it means to be CAPI certified.
- Upcoming plans for branching out and new service offerings.
Key Takeaways:
- Sometimes the weird things are creative things. Doing what everyone else does won't make you stand out.
- Those who think that technology is the answer to everything is taking the wrong path.
- If you force your kid to come into your business, there's no way it will work.
- The hardest thing is probably being a spouse of someone who works in a family business.
Resources mentioned:
- CHUBB
Connect with Aaron Gordon:
- Gordon Companies
- Phone: 917 727 7205
- Email: aaron@gordoncompanies.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your thoughts Apple Podcasts Rate and Review for SpotOn and share your favorite episodes with friends and colleagues!
Today’s Compliance Expert is from the Kay Godfredsen Law Practice. The firm handles a range of matters including Contract Negotiation, Business Continuity/ Succession Planning, Regulatory Representation, Corrective Action Plans, Business Formation, and Go-To-Market Guidance.
Our guest grew up in an entrepreneurial family in rural Iowa. She graduated from the University of South Dakota and worked as a Mortgage Banker before finding her way into the insurance industry. She obtained her law degree from Drake Law School and went on to work in the Office of General Counsel at a Fortune 100 insurance and financial services company for several years. In this role, she handled matters in the areas of sales, rating, underwriting, defects management, and market conduct actions. She went on to lead at the Iowa Insurance Division as First Deputy Commissioner, focusing on talent, innovation, and strategy in the State and engaging at the NAIC.
Matthew Coots is the Director of Business Development at the JLS Family of Companies. One of their branches is the JLS Sales Academy, a leader in senior market agent sales training as well as a platform designed to enable agents to reach their highest potential. Matthew is a second-generation insurance agent who has more than 18 years of professional experience. His primary role is to work with agents to help them improve their performance and reach their goals.
Today, Matthew joins us to discuss what it’s like to work with the senior demographic in the insurance industry. He shares the life he had and why he chose a career in insurance. He explains what it’s like to work with people over the age of 65. Matt also describes the roles of agents and why there are certain aspects that technology can never replace.
“Our value as agents is the fact that we're problem solvers, and that we explain potential risks.” - Matthew Coots
Today on Spot On Insurance:
- What Matthew's life was like growing up and how his mother affected his career decisions.
- The senior market of the insurance industry and what it's like to be in this sector.
- The difference between having senior clients and younger clients.
- Making sure the people he gets are right for the position he wants them to fill.
- Discussing the results of their personality tests and how accurate they were.
- The coaches involved in their training program and what agents can expect.
- What they have in store for agents and clients this year and in 2020.
- The responsibilities agents have that websites can never replace.
- Why you should not fear new technology in the industry.
Key Takeaways:
- It's not so much about hiring the right people as knowing when to move past the wrong people.
- The more time you waste on the wrong people, the more it detracts from your growth.
Resources mentioned:
- Text SOIPodcast to “39492” to enter your name to win one of 5 FREE copies of Checkmate: Beat the Myths and Win the Game OR a one-on-one coaching call for either the Senior Market Program or one of the Scenario Selling programs offered at JLS Sales Academy.
Connect with Matthew Coots:
- JLS Sales Academy
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Tameika Johnson, Annual Returns & Corporate Tax Filings Supervisor at Insurance Licensing Services of America, Inc., shares her dos and don’ts for franchise taxes. Her secret for success: Start by determining if you have nexus in a state. Don’t assume that you don’t have nexus just because you don’t have a brick-and-mortar office or employees there.
And if you only learn one thing from this podcast, let it be this: Franchise tax requirements can apply to BOTH resident and foreign (or non-resident) business entities.
Kirt Linington, Neil Palmer, and Tony Taveras are part of the team that composes Linear Roofing. Linear Roofing is a roofing contractor company that provides inspection, repair, restoration, and replacement services that specializes in multiple types of properties over the Texas area. Kirt specializes in claim restoration. Neil has over 15 years of roofing experience, and is a HAAG Certified Inspector. Tony is the vice president of Sales.
Today, Kirt, Neil, and Tony join us to discuss the ins and outs of the roofing industry and describe what sets them apart from other roofers. They share their journey, the challenges they endured growing up, and how they met and formed Linear Roofing. They explain how roofing and insurance tie together and how they manage their team. They also offer wonderful advice for those who are just entering the professional arena.
“You would only be scared of making that leap into something unknown if you weren't willing to bet on yourself.” - Tony Taveras
Today on Spot On Insurance:
- Neal's backstory, how his family reacted to his profession, and how he started his roofing business.
- Kirt's journey all the way from South Africa to where he is today.
- Tony's dreams when he was a kid and the challenges he faced growing up.
- Why Tony never gravitated to joining the family business.
- Kirt's back problems, initial meeting with Neal, and why they decided to form Linear.
- The factors that allowed Tony to work with Kirt and Neal.
- The business model and culture that led their company to success.
- What sets their company apart from the competition.
- The numbers they want to achieve this year and how they plan on getting them.
- Ensuring the team is trained according to the right standards.
- Utilizing social media to increase marketing and staying up to date with regulatory changes.
- Their views on solar roofs and other projects they are interested in.
- Their advice to those just starting a professional career.
Key Takeaways:
- One of the hardest things to do is start a business while working at a place you love.
- Nothing is ever given, only earned.
- The work ethic, or what you're doing behind closed doors, is what determines your success.
Resources mentioned:
- Roofing Contractors Association of Texas
- Purple Cow by Seth Godin
- Outliers by Malcom Gladwell
Connect with Kirt Linington:
- Linear Roofing
- Email: kirtl@linearroofing.com
Connect with Neil Palmer:
- Email: neilp@linearroofing.com
Connect with Tony Taveras:
- Email: tonyt@linearroofing.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Dan Maher, Executive Director of the Excess Line Association of New York (ELANY), shares his dos and don’ts for surplus lines compliance – especially in New York. His secret for success: Identify the right home state for each insurance transaction so you can follow the correct filing and tax procedures.
And if you only learn one thing from this podcast, let it be this: Before you expand your business into a new state, do your homework. State rules vary, so seek expert advice.
Robert Cartwright Jr. is the Chair of the Diversity and Inclusion Advisory Council of Risk and Insurance Management Society, or RIMS. RIMS connects risk professionals from all over the world on one platform to discuss and provide education on everything involving risk management. He is also currently the Division Manager of Environmental, Health, Safety, and Sustainability at Bridgestone, a giant in the automobile industry known for selling quality tires.
Today, Robert joins us to share his success story, the challenges he’s faced throughout his journey, and how he arrived at where he is today. He describes what it’s like working for Bridgestone and his role there, and what he enacted as the president of RIMS. He also defines risk management, why it’s more than just solving company problems, and how it benefits any company to hire a risk manager.
“We only get better by the people we know and the more people we know, the better we become.” - Robert Cartwright jr.
Today on Spot On Insurance:
- His very successful career and how it all started.
- The work ethic he possessed before the ‘age of information.’
- His philosophy around risk management and how he solves problems.
- What his career initially was like at Bridgestone and his role today.
- How finding the root cause can help reduce risks and increase profits.
- Risk management from years past and what risk management is today.
- Why diversity and inclusion are more than just the color of your skin.
- How he wants to push systems that are sustainable when it comes to leading a company.
- His tips for newcomers in the insurance industry.
- The benefits of hiring a risk manager.
Key Takeaways:
- There's nothing you can't do if you put your mind to it.
- You’ve got to know where you come from to know where you're going.
- When getting into the insurance industry, if you don't have the why, the what doesn't matter.
Connect with Robert Cartwright Jr.:
- RIMS
- Bridgestone
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, ILSA’s Surplus Lines Tax Filings Supervisor Sherry Groves shares her dos and don’ts for managing accounts for surplus lines policy reporting and tax payment portals like OPTins. Her secret for success: Apply for your account (or add the state to an existing account) as soon as the insurance department approves your surplus lines license. Compliance obligations, such as zero reports, can begin as soon as your license issues.
And if you only learn one thing from this podcast, let it be this: States are cracking down on account security. Don’t share account logons among employees or leave accounts for former employees active!
Michael Aberle is the Senior Vice President of US and Canadian Program Development & Education at CannGen Insurance Services. CannGen Insurance Services provides a wide range of insurance packages to protect growers in the cannabis industry. He is also the Executive Producer at MyCECourse, a multimedia educational platform for professional growth and compliance. Michael is skilled in Sales, Marketing and Risk Management.
Today, Michael joins us to discuss the cannabis industry and how their company wants to insure growers. He shares the various interests he’s had throughout his life and what made him decide to choose a career in insurance. He describes the profitability of the cannabis industry and its projected marketing outlook. He also explains why some banks are still hesitant when it comes to investing in this industry and some of the benefits of partnering with them.
“Insurance is recession-proof. You just have to stay ahead of the game.” - Michael Aberle
Today on Spot On Insurance:
- Michael's life story and how he ended up where he is today.
- His interest in forensic pathology and the other different hats he wore.
- What it was like discussing the formation of a company that focuses on cannabis.
- The challenges in organizing this type of company and its subsequent growth.
- What makes their services unique in both the cannabis and insurance industry.
- How the marijuana landscape changed in the last decade and what to expect in the future.
- The Motor Truck Cargo policy and how it helps with the cash issue.
- The reason banks aren't joining the cannabis bandwagon.
- His experience with clients in the cannabis industry and the type of claims they had.
Key Takeaways:
- People didn't recognize the cannabis insurance as a viable industry until money was starting to be stable.
Connect with Michael Aberle:
- CannGen
- MyCEcourse
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Fred Karlinsky from international law firm GreenbergTraurig shares his dos and don’ts for cybersecurity for the insurance industry. His secret for success: Complete a risk assessment at least annually. Be sure to include board members at every step when creating and implementing your cybersecurity/data security program.
And if you only learn one thing from this podcast, let it be this: There are two kinds of people in the world: those who have been breached and know it, and those who have been breached and don’t know it yet!
Jenny Saint Preux is a producer for HN Insurance Services. HN Insurance Services is a full-service independent insurance agency. Their agents represent various groups of national and regional companies. Jenny has experience in insurance underwriting, sales, and risk management. She is also proficient in business development strategizing as well as data analytics application. She is joined by Alexandra Deetjen, a real estate agent partnered with HN Insurance Services.
Today, Jenny and Alexandra join us to discuss the growth of the insurance and insurtech industries. They share their backstories, where they come from, and how they found their career paths. Jenny explains what HN Insurance Services does and how they interact with clients. Alexandra describes how she explains insurance costs to clients. They also share helpful advice for those thinking about joining the insurance industry.
“As we progress as an industry, a lot of the information we have will be more readily accessible to our clients.” - Jenny Saint Preux
Today on Spot On Insurance:
- Jenny and Alexandra's backstories and how they were introduced to the financial and real estate industry, respectively.
- The importance of having a mentor to guide you on your way up.
- What they wanted to be in high school and how they found their career paths.
- What HN Insurance Services is and what it offers to its clients.
- What it means to discuss insurance as it relates to the buying process for clients.
- Factors affecting the cost of home insurance.
- Why insurance is constantly evolving and what to expect from InsurTech in the future.
- Recent changes in systems in the insurance industry.
- Their advice to those who want to be part of the insurance industry.
Key Takeaways:
- You always have the opportunity - no matter what age you are - to adjust the plan. It's never over until it's over.
- The right mentor can take your professional skills to another level.
Connect with Jenny Saint Preux:
- HN Insurance Services
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Kristy Roberts, Licensing Manager at Insurance Licensing Services of America (ILSA) shares her dos and don’ts for reporting producers’ criminal charges/records. Her secret for success: Read the wording of the standard background questions on the licensing applications carefully, and respond openly and honestly.
And if you only learn one thing from this podcast, let it be this: Criminal charges, including DUIs, always appear on criminal background checks – even if the charge has been “expunged.”
Michael Furlong is the Founder and CEO of Indio Technologies Inc. Indio is proposed as a modern solution for the simplification of the insurance application process for both brokers and clients. Their goal is to help agencies improve profits by winning more businesses as well as boost work efficiency. Michael has extensive experience in sales, financial modeling, and business development. He obtained his BBA in Finance from Emory University in 2013.
Today, Michael joins us to discuss how Indio works and why agencies should use their services. He shares his experience of moving from one place to another multiple times and how they affected his attitude towards life and his career choices. He explains why he chose to work in the financial industry and why he eventually transitioned to insurance. Michael also describes why software will be at the forefront of disruption for years to come.
“Disruption doesn't necessarily happen directly, and it doesn't necessarily happen by adopting a value chain-based business model.” - Michael Furlong
Today on Spot On Insurance:
- Michael's childhood, school life, and how they influenced his career choices.
- How his experience moving from one place to another helped develop his character.
- The transition from financial services to the insurance industry.
- Why software is a major disruptor in insurance.
- Conducting meetings virtually against meeting people in person.
- How they came up with the name of the company.
- What Indio is all about and where they focus their business.
- The technology that companies should be employing, but many are missing.
- What sets Indio apart from other agency management systems.
Key Takeaways:
- Many millennials don't like having to sit down with somebody for a meeting because it's inefficient.
- In learning something new, be patient and become an expert in one area then move on to the next.
Resources Mentioned:
- Slack
- Zoom
Connect with Michael Furlong:
- Indio
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, ILSA’s Intake Supervisor Amanda Theiss shares her dos and don’ts for resident state changes. Her secret for success: Contact the insurance departments in BOTH your “old” and “new” resident states to learn their requirements before you begin.
And if you only learn one thing from this podcast, let it be this: Holding a non-resident license in the state you’re moving to can make the change of resident state process simpler.
Lisa Rehburg is the President of Rehburg Life Insurance Settlements. Rehburg Life Insurance Settlements is a company that aims to help people benefit from life insurance policies they no longer want or need. She has over 30 years of experience working in the insurance and financial industry. Lisa is also a featured speaker in various events and organizations, including NAIFA and the Palm Desert Chamber of Commerce.
Today, Lisa joins us to share her passion in helping seniors be relieved of their unwanted life insurance policies as well as debunk some of the myths surrounding it. She describes what her life was like growing up in a machine shop and how she got started in the insurance industry. She explains why life insurance settlements are legal and cites examples of real-world scenarios. Lisa also discusses some of the reasons why people choose to sell their life insurance policies.
“If you're passionate about what you do, go for it and don't let anyone tell you you can't do it.” - Lisa Rehburg
Today on Spot On Insurance:
- Lisa's experience growing up in a machine shop.
- Her childhood, academic path, and how she landed in the insurance industry.
- Why hundreds of thousands of seniors let their life insurance policies lapse annually.
- Debunking the prevailing myths regarding selling life insurance policies.
- Why life insurance settlements are not illegal and are well regulated.
- Examples of life insurance settlements.
- Why she enjoys speaking at many associations and events.
- The challenges she faced on her way to the insurance world.
Key Takeaways:
- A life insurance policy is an asset that can be transferred to whomever you want.
- Life insurance settlements have been legal since 1911.
- 99% of the time, term policies need to be convertible or it might not sell.
- Selling a life insurance policy through a settlement can be a great way to make a charitable donation.
Resources Mentioned:
- Ep. 87: Surplus Lines – The Power Player in the Market
- Upcoming Events for Lisa
- NAIFA
- Palm Desert Chamber of Commerce
Connect with Lisa Rehburg:
- Rehburg Life Insurance Settlements
- Phone: (714) 349-7981
- Email: lrehburg@aol.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Christa Rapoport, Senior Vice President for Regulatory Strategy and Compliance at Nelson Taplin Goldwater, returns to share her dos and don’ts for producer due diligence. Her secret for success: Create a form that expressly states who the insurer is, who at a company and/or state regulator provided information about their authorization, whether the specific product is filed or exempt, and in which states that product can and cannot be offered, etc. (This is especially important for innovative products.)
And if you only learn one thing from this podcast, let it be this: The responsibility for verifying that an insurer is authorized to offer a specific insurance product in a state lies with the producer.
Matt Sapaula is a financial coach, speaker, and media personality. He owns Money Smart Guy, a business that provides financial coaching services, whether for personal use or starting a business. He has over 20 years of experience in the financial services industry as well as over 12 years as a licensed advisor and agent. Matt has appeared in various media channels such as MSN Money, The New York Times, FOX Business, and Chicago Now.
Today, Matt joins us to discuss what it truly means to be financially free and share his advice on how to grow your money. He shares his backstory, what it was like growing up in a Latino community, and his life in the Marines. He explains why he eventually ventured towards the corporate world and why he chose to work in the financial industry. Matt also describes the importance of being accountable and why the worst person to work for is yourself.
“One of the most dangerous things anybody can do is start a business from scratch.” - Matt Sapaula
Today on Spot On Insurance:
- Matt's story and career background.
- His struggles growing up and the skills he learned in the military.
- Why he left the military and his start in the financial industry.
- The challenge of transitioning into the corporate world.
- The importance of being accountable in this day and age.
- His interpretation of financial freedom and how the rich use money.
- Lessons he learned about finances and starting a new company.
- His reflections on the experiences he had up until this point.
- His advice to someone just entering the insurance industry.
Key Takeaways:
- The worst person to work for is you because no one holds you accountable for your errors.
- Money is a tool you use all the time, and many people don't know how to handle money.
Resources Mentioned:
- Economic Policy Institute
- Mint
Connect with Matt Sapaula:
- Money Smart Guy
- Matt Sapaula official website
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Traci Houston from ILSA’s Licensing and Compliance Team, shares her dos and don’ts for meeting fingerprinting requirements. Her secret for success: Know the correct procedure for submitting your fingerprints to the DOI, including who can (and can’t) take your prints.
And if you only learn one thing from this podcast, let it be this: Insurance departments that require prints won’t approve your license application without them.
Kevin Bingham is the Chief Results Officer at Chesapeake Employers Insurance Company, and President and CEO of their wholly owned corporate venture capital subsidiary iCubed Ventures, LLC. He is a renowned public speaker and has published more than 80 articles on important trends impacting the insurance industry. He has published nine articles on the Opioid Epidemic.
- The Opioid Abuse Epidemic – Turning the Tide (2013), Physician Insurer Magazine
- The Challenging Task of Stemming Opioid Abuse (2014), Inside Medical Liability Magazine
- 10 Strategies to Combat Rx Abuse Epidemic – An Insurer’s Perspective – Examining TFAH’s Report and Considerations for Insurers (2014)
http://www.propertycasualty360.com/2013/12/02/10-strategies-to-combat-the-rx-abuse-epidemic---an?t=workers-compensation
- Winning the War Against Opioid Addiction (2014)
http://www.insurancethoughtleadership.com/articles/winning-the-war-against-opioid-addiction-and-abuse#axzz2wawEw0P1
- The Challenging Task of Stemming Opioid Abuse (2014) – A Call to Action: Educate Everyone, Inside Medical Liability Magazine online extra
- How to Help Reverse the Opioid Epidemic (2016)
http://insurancethoughtleadership.com/how-to-reverse-the-opioid-epidemic/
- Article and Podcast – Facing the Opioid Epidemic – An Ecosystem Approach to a Wicked Problem (2017), Deloitte University Press
https://dupress.deloitte.com/dup-us-en/multimedia/podcasts/fighting-opioid-crisis-heroin-abuse-ecosystem-approach.html
- Physician & Patient Communications - An Important Step Before Writing That Opioid Script (2017), BenefitsPro
http://www.benefitspro.com/2017/05/31/patient-physician-risk-communications-an-importan
- Non-Opioid Treatment Alternatives – Avoiding Dependency & Addiction (2017), Claims Magazine
http://www.propertycasualty360.com/2017/08/08/non-opioid-treatment-alternatives?page=2&slreturn=1502457888&page
He is an Associate of the Casualty Actuarial Society (ACAS), a Member of the American Academy of Actuaries (MAAA) and is a Certified Specialist in Predictive Analytics (CSPA). Additionally, he is a AAA volunteer, CAS volunteer, and an Advisory Board Member and MPL Conference Chair of ExecSummit.
Kevin joins us today to share how workers’ compensation insurers are making a difference in helping prevent opioid dependency and addiction. He provides some background on the history of the opioid epidemic, where leaders have helped to change the perception around opioid use, what some workers’ compensation insurers are doing to drive positive change, the impact of addiction on employers and employees, and some helpful hints to leverage in your daily efforts to help injured workers, friends and loved ones beat this epidemic.
“America currently has 5% of the world’s population but we consume about 80% of the Opioid supply, and if you go to some of the more carved out drugs we consume about 99% ” – Kevin Bingham
Today on Spot On Insurance:
- Kevin’s background and how he developed a passion for winning the war against opioid addiction and dependency.
- The difference between stimulants, opiates and tranquilizers, and how that fits into the Federal Controlled Substances Act (Schedule I – IV).
- Impactful stories of how opioids have impacted people all around us – positive and not so positive.
- The history of the five vital signs and how the 5th vital sign of pain came about.
- How workers’ compensation insurers are addressing the opioid epidemic to significantly lower opioid usage and medical spend.
- The impact of opioid addiction on employers and the struggles they are facing hiring drug-free workers.
- Tips for fighting the opioid epidemic
Kevin’s recommended websites:
- CDC website (https://www.cdc.gov/drugoverdose/index.html)
- CDC guidelines (https://www.cdc.gov/drugoverdose/prescribing/guideline.html)
- Common elements in guidelines for prescribing opioids for common pain (https://www.cdc.gov/drugoverdose/pdf/common_elements_in_guidelines_for_prescribing_opioids-a.pdf)
- CDC nonopioid treatment for chronic pain flyer (https://www.cdc.gov/drugoverdose/pdf/nonopioid_treatments-a.pdf)
- NCHS data visualization pilot which allows you to drill down to the state and county level on overdose deaths per 100,000 (https://blogs.cdc.gov/nchs-data-visualization/drug-poisoning-mortality/)
- 2015 MA Governor’s Opioid Working Group Report (https://www.mass.gov/files/documents/2016/07/vb/recommendations-of-the-governors-opioid-working-group.pdf)
- Brandeis University PDMP center of excellence (http://www.pdmpassist.org/)
- Stamp out the stigma website (http://stampoutstigma.com/pledge.html)
- Oregon Narcan training video (https://www.oregon.gov/oha/ph/ProviderPartnerResources/EMSTraumaSystems/Pages/epi-protocol-training.aspx)
- Chesapeake Employers’ Insurance Company opioid kit (https://www.ceiwc.com/safety-university/Special%20Programs/index.html)
Kevin’s recommended APPs:
- Substance Abuse and Mental Health Services MAT APP (SAMHSA) – Medication Assisted Treatment (MAT) education, 355 page book on MAT
- SAMHSA Treatment Locator APP – Location based treatment locator providing facility information (e.g., location, type of care, treatment approaches, etc.)
Connect with Kevin Bingham:
- www.ceiwc.com
- Email: kbingham@ceiwc.com
- linkedin.com/in/kevin-bingham-5578521
Kevin Bingham, ACAS, CSPA, MAAA
Chief of Results for Subsidiary Initiatives
Chesapeake Employers’ Insurance Company
Your workers’ compensation specialist
8722 Loch Raven Blvd. Towson, MD 21286-2235
P 410-494-2371
kbingham@ceiwc.com
www.ceiwc.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Jo Ann Del Gatto, founder of Custom Compliance Solutions, joins us to share her dos and don’ts for charging fees. Her secret for success: Understand what types of fees can be charged in each state, who can charge those fees, and whether fees are subject to taxation.
And if you only learn one thing from this podcast, let it be this: Develop a consistent fee schedule and process for documenting and disclosing fees!
Justin Fowler is a Business Consultant, Analyst, Developer, and Founder of Ninja Rater. Ninja Rater helps companies choose the best market for a company’s Workers Compensation risk. Apart from entrepreneurial experience, Justin is also well versed in web design, sales, insurance solutions, and business consultation. He obtained his MBA in Finance from Saint Mary's College of California in 2003 and a Bachelor of Science in Industrial Psychology from California State University in 1999.
Today, Justin joins us to discuss his passion for innovation in the insurance industry. He shares his experiences as a farmer and how he got started in the insurance industry. He explains how his software works and what makes it an efficient tool for Workers Compensation market analysis. Justin also explains how the Worker’s Comp companies differ from other types of insurance companies, what a retrospective rating plan is, and shares helpful advice to newcomers in the insurance industry.
“It makes a lot more sense to involve yourself with the existing infrastructure rather than try to replace it.” - Justin Fowler
Today on Spot On Insurance:
- How Justin Fowler found a career in the insurance industry.
- The lessons he learned as a chicken farmer.
- Why insurance is one of the most lucrative industries.
- The experience rating for Workers Comp.
- The definition of a retrospective rating plan.
- His opinion on insurtech startups in the industry.
- How Workers Comp vastly differs from most insurance companies.
- What Ninja Rater aims to achieve and how it can innovate the industry.
- His advice to newcomers in the industry.
Resources Mentioned:
- Workers Compensation
Key Takeaways:
- The more decentralized the market is, the healthier it becomes.
- Nothing's worse than suffering through ancient business processes.
- We are fortunate to have the career opportunities we have today.
Connect with Justin Fowler:
- Justin Fowler official website
- Ninja Rater
- Email: justin@justinfowler.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Stefanie Cantu, Licensing and Compliance Supervisor at Insurance Licensing Services of America, shares her dos and don’ts for address changes. Her secret for success: Notify your resident state first, and then notify all the other states where you hold an insurance license.
And if you only learn one thing from this podcast, let it be this: Have a plan to update your addresses BEFORE you move; you’re on the clock!
Adnan Pathan is a Mentor and Advisor at Global Insurance Accelerator. Global Insurance Accelerator is a business accelerator that utilizes a mentor-driven system to boost the growth of innovative insurtech startups. Adnan specializes in commercial casualty underwriting in the US and the Middle East markets. He earned his MBA in Entrepreneurship from Babson College and his CPCU in Insurance Underwriting from the Insurance Institute of America.
Today, Adnan joins us to discuss the difference in markets between the US and the Middle East as well as their similarities. He shares how he gained experience as an underwriter in the Middle Eastern markets and discusses his career trajectory. He explains what Global Insurance Accelerator is all about and his role in that company. Adnan also shares advice on how to become successful in the Middle Eastern insurance industry as well as the stigmas around insurance and how insurance agents sell it.
“Learn the industry better. Get an idea of where it is and where it's going. Look for that future trend.” - Adnan Pathan
Today on Spot On Insurance:
- Adnan Pathan's plans growing up, his dreams and aspirations, and what he became.
- The insurance market in the Middle East and how it differs from the US.
- The experience he accumulated while working as an underwriter in the Middle East.
- How Middle Eastern insurance companies provide coverage for large risks.
- Cultural differences in how they conduct business in the Middle East.
- Dubai's car culture and why the brand of the car makes a difference.
- The role of the Global Insurance Accelerator and what he does.
- What it takes to become successful in the insurance industry.
- The stigma around insurance and how agents sell them.
Key Takeaways:
- When working in the Middle East, you are approached by various people from countries like India, Saudi Arabia, Pakistan, and other nearby regions.
- Worker’s compensation practically doesn't exist in the Middle East area.
- Dubai has a strong underwriting center and its capacity is large for the region.
Connect with Adnan Pathan:
- Global Insurance Accelerator
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Christa Rapoport, Senior Vice President for Regulatory Strategy and Compliance at Nelson Taplin Goldwater, shares her dos and don’ts for producer compensation. Her secret for success: The change from agent and broker licenses to a single producer license didn’t change the underlying laws and regulations governing compensation. Know what your role in a transaction is.
And if you only learn one thing from this podcast, let it be this: Be transparent; fully disclose to the consumer what services you are being compensated for and who provides that compensation.
Larry Schiffer is a partner at Squire Patton Boggs LLP. Squire Patton Boggs LLP is a firm with an extensive list of business law experts with offices in 20 countries across five continents. Larry’s expertise is in the areas of insurance, commercial, and reinsurance litigation as well as arbitration and mediation. He obtained his Law Degree from Albany Law School and his Political Science degree from City University of New York-Brooklyn College.
Today, Larry joins us to help explain how the world of reinsurance works and why it’s an absolute necessity for any business. He explains why he decided to become a political science major and the events that led him to his current career. He explains some of the terms used in reinsurance and cites examples of their use. Larry also describes what goes on during an arbitration situation and why it sometimes can take longer than a year to resolve.
“The world doesn't function without insurance. You have to share risk in order to cover risk.” - Larry Schiffer
Today on Spot On Insurance:
- Larry's story before venturing into the insurance industry.
- Why he chose to become a political science major.
- Larry's definition of reinsurance and what makes it a business necessity.
- Terms used in reinsurance and an explanation of each of them.
- Catastrophe reinsurance and the number of reinsurers involved.
- The reinsurance market cycle and how it works.
- Climate change and how it factors into reinsurance.
- Why some reinsurance disputes are just not cost-effective.
- What a real insurance arbitration situation looks like.
- Factors affecting the duration of a dispute.
Key Takeaways:
- Insurance is literally the engine that makes the world economy run.
- Reinsurance is the next level of risk spreading.
- The majority of disputes arise out of runoff situations.
- Anytime there is a massive disaster, there will be smaller companies that are unable to purchase enough reinsurance to cover themselves sufficiently.
Resources Mentioned:
- Arias US
- B3i
- Tort Trial and Insurance Practice
Connect with Larry Schiffer:
- Squire Patton Boggs
- Email: larry.schiffer@squire.pb.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Joyce King, the Quality Assurance Administrator for ILSA, shares her dos and don’ts for State Processing Times.
Darren Lossia is a licensed attorney, claims professional, and the creator of Direct Claim Solution. Direct Claim Solution is a platform that provides services to people handling property or casualty claims. He is also the Director of Risk Management Services at Innovative Computer Systems, Inc., Direct Claim Solution’s parent company. Darren obtained a Juris Doctor degree from the University of Michigan, a Masters degree in Management from Walsh College of Accountancy, and a Bachelor of Science degree in Economics and Management from Albion College.
Today, Darren joins us to share his passion for innovating the insurance industry through software development. He describes his life journey and what made him decide to pursue a career in insurance. He explains his role in the company and the projects he spearheads. Darren also discusses some of the challenges he encountered in his career and how he overcame them.
“The failures that we had make us who we are and make us better over time.” - Darren Lossia
Today on Spot On Insurance:
- Darren's story, his interests, and what lead him to where he is today.
- The reason he went back to school and his achievements.
- His role as a claims manager and what his routine is like.
- What he learned during his time as a team manager.
- Why consumers drive the innovative solutions companies provide.
- The challenges he encountered in developing software.
- The markets they aim to help with their software.
- What the Finys Insurance Suite is all about.
- His advice to newcomers in the industry.
Key Takeaways:
- The longer you've been in the industry, the smaller it gets.
- In this industry, you have to go through the grinder to put all the pieces together.
Resources Mentioned:
- Finys
Connect with Darren Lossia:
- Direct Claim Solution
- Email: dlassia@directclaimsolution.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Nicole Zayac from global law firm DLA Piper, shares her dos and don’ts for surplus lines compliance in California. Her secret for success: Keep clear separation between the activities of the non-admitted insurer and its affiliated surplus lines brokerage.
And if you only learn one thing from this podcast, let it be this: California has stricter laws and regulations for surplus lines. Just because you can do something in other states doesn’t mean it’s okay in California.
Sabine VanderLinden is the CEO of Startupbootcamp. Startupbootcamp is a company founded to support early-stage tech companies through various programs that connect them to mentors, partners, and investors. Sabine has a proven track record in developing business strategies that connect the customer, market, and different technologies together. She is a renowned expert in insurance, distribution strategies, business model design, and operational transformation among others.
Today, Sabine joins us to discuss her passion for supporting industrial innovation and how Startupbootcamp aims to achieve it. She shares what led her to her current career path, the many challenges she encountered, and the lessons she learned from them. She describes how their programs work, their startup criteria, as well as discusses some of the companies they have supported. Sabine also explains why European markets are much more conservative when it comes to risk compared to the US.
“If you don't change, you actually end up being redundant.” - Sabine VanderLinden
Today on Spot On Insurance:
- The challenges she encountered on the way to starting her company.
- The experiences that inspired her to be in the insurance industry.
- Keeping yourself updated with the changing times.
- Why she decided to work with insurtech startups.
- The reasons why a lot of startups fail and what she learned from these companies.
- The programs they offer and some of the startups they helped.
- Comparing the markets between the US and Europe.
- What the industry means when they say they need to innovate.
- The difference between digital innovation and digital transformation.
- How their business works and the goals they set for themselves.
- Their criteria for working with potential startups.
- The most common weaknesses she sees in startups.
Key Takeaways:
- Startups need to design for customers, but first they have to know who their customers are.
- Many insurers are looking at ways to see how to satisfy the changing customers.
Resources Mentioned:
- InsurTech Connect 2019
Connect with Sabine VanderLinden:
- Startupbootcamp
- Email: sabine@startupbootcamp.org
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Sabrina Slater, Annuals & Corporates Manager for Insurance Licensing Services of America, Inc., shares her dos and don’ts for Registered Agents. Her secret for success: Always read communications from your registered agent carefully and respond promptly.
And if you only learn one thing from this podcast, let it be this: Be sure your registered agent is absolutely reliable!
Matt Halloran is a Partner and CEO at Top Advisor Marketing, a company that helps its clients improve their communication and marketing strategies across social media and the podcast space. He has over 20 years of experience as a certified life and business coach within the financial services industry before pivoting his focus to financial branding, podcasting, and social media marketing. He is the co-host of the Top Advisor Marketing podcast and author of multiple books including The 99 Best Ideas, a business consulting book that offers 99 ideas to help financial advisors market their businesses.
Today, Matt joins us to describe how he found his passion for marketing and the roads that led him to where he is today. He explains how he discovered the financial services industry and discusses the moment that made him pursue a career in business coaching. He also shares the biggest challenges his client’s face, how he helps them overcome these challenges, and the unique ideas readers will get from his book.
“Just because you have a niche, doesn't mean you can't sell outside the niche.” - Matt Halloran
Today on Spot On Insurance:
- His life as a young student and the road that led him to join the army.
- Why being color blind changed his career trajectory.
- Where he learned about financial services.
- The changes society needs to make when it comes to the educational system.
- His inspiration for taking on the mantle of a business coach for 20 years.
- The biggest challenges his clients have when it comes to podcasting.
- His top 10 best ideas when it comes to marketing.
- Technological opportunities available to the current industry.
Key Takeaways:
- Knowing yourself is the greatest journey any human can take.
- Life is long, but you have to live it as much as you possibly can while you’re here because every day's a gift.
Resources Mentioned:
- Ron Carson
- WealthVest
Connect with Matt Halloran:
- Top Advisor Marketing
- Top Advisor Marketing Podcast
- The 99 Best Ideas book
- The Social Media Handbook for Financial Advisors book
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Rich Fidei from Greenberg Traurig returns to share his dos and don’ts for dealing with regulators in tough situations. His secret for success: Present a clear, consistent message to regulators that addresses their concerns directly and honestly.
And if you only learn one thing from this podcast, let it be this: Regulators aren’t the adversary.
Meg McKeen is the Founder & Chief Confidence Builder at Adjunct Advisors. Adjunct Advisors is a company that provides customized solutions for professionals in the insurance industry. Their aim is to help individuals find success faster in an industry that is always evolving. Meg has over 20 years of industry experience and specializes in one-to-one coaching, creative workshops, and general entrepreneurial advice.
Today, Meg joins us to share her journey and what eventually led her to starting Adjunct Advisors. She describes her life before she walked the path of entrepreneurship, discusses the challenges she encountered, and explains how she overcame them. Meg also shares tips on how to make sure your staff are happy and some of the ways you can inspire them to work for your company.
“You have to create value beyond the transaction of insurance.” - Meg McKeen
Today on Spot On Insurance:
- Meg McKeen's journey and the beginning of her career.
- Why she took a short break half way into her career.
- The reason she became passionate about starting her own business.
- The challenges she overcame as she stumbled her way into the insurance industry.
- What the BEGIN program aims to accomplish.
- The common complaints she hears from agency principals.
- Developing your staff and how entrepreneurs can inspire their employees.
- Her passion for running as well as other exercises and recreational activities.
Key Takeaways:
- Our job is not to sell an insurance policy and walk away.
- Technology is the great differentiator between generations.
- Everything we went through in life prepared us for where we are today.
- We should feel like we have the right information at the time that we need it to make the best decisions.
Connect with Meg McKeen:
- Adjunct Advisors
- Email: meg@adjunctadvisors.com
- BEGIN
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, ILSA’s Licensing and Renewals Manager, Kristy Starling-Roberts, shares her dos and don’ts for Directors & Officers Updates. Her secret for success: Make sure directors and officers understand what information the states require and are willing to provide that information in a timely manner.
And if you only learn one thing from this podcast, let it be this: Thirty days isn’t as long as it sounds.
Kyle Castle is a lending advisor at AgileCap. AgileCap is a company that operates on insurance agency loans and provides clients flexible loan products to capitalize on growth opportunities. As lending advisors, Kyle assists insurance agency owners in funding the growth of their agency. He specializes in book acquisitions, debt restructuring, and working capital.
Today, Kyle discusses how the markets affect the insurance agency lending industry and what he sees as prevailing trends this year. He shares his life story, how he found his passion for finance, and why he joined the insurance agency. He describes the good and bad effects of debt for agencies and why the biggest companies in the world are in debt. Kyle also explains the current acquisitions trends and shares actionable tips for someone looking into buying a new book of business as well as tips for getting capital.
“Organic growth is something everybody needs to do.” - Kyle Castle
Today on Spot On Insurance:
- Kyle's career background and what led him to join the insurance industry.
- What his life was like growing up and his fascination with money.
- His inspiration in pursuing a career in finance.
- His definition of assets-based insurance lending.
- Acquisitions tips for buying a new book of business.
- The 2019 trend in acquisitions and how it compares to 2017 and 2018.
- Advice for those looking to get extra capital in the future.
Key Takeaways:
- The wrong type of debt will ground you.
- Every blue-chip company out there operates with debt.
Connect with Kyle Castle:
- AgileCap
- Email: kcastle@agilecapfunds.com
- Phone: 435 6021756
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Amanda Theiss, a supervisor in the Licensing Department at ILSA, Inc., shares her dos and don’ts for affiliating a designated producer. Her secret for success: Where possible, have two designated producers – or at least have a back-up in mind.
And if you only learn one thing from this podcast, let it be this: If you need to affiliate a new DP (for whatever reason), act quickly. The clock is ticking!
Caribou Honig is the Chairman and Cofounder of InsureTech Connect, a company that holds the world’s largest insurtech event annually. They provide a place for entrepreneurs, investors, and other members of the insurance industry to gather and network. Caribou obtained his BA in Physics and Philosophy from Harvard University, his MBA from the University of Virginia - Darden Graduate School of Business Administration, and his JD, LAW from the University of Virginia School of Law.
Today, Caribou discusses the concept behind InsureTech Connect. He shares how he came to found the company and why he wanted to have an annual event for members of the industry. He describes his life before becoming an entrepreneur, his drive for higher education, and some of the lessons he’s learned in running an investment company. Caribou also shares advice to those who are interested in joining the insurance industry and explains what you can expect by attending InsurTech Connect 2019.
“For the most part, people are generally judged by the track record of their successes, not so much their parallel track record of failures.” - Caribou Honig
Today on Spot On Insurance:
- How Caribou Honig began his career in the insurance industry.
- The funny story behind the name "Caribou."
- His many academic pursuits and where his passion for learning started.
- The challenges he's faced in his career and how he overcame them.
- The lessons he learned from the mistakes he made in the venture capital world.
- His criteria when it comes to investing in startups.
- What are "elegant businesses" and how you can find them.
- The story behind InsurTech Connect and the goal of creating the event.
- What to expect from InsurTech Connect 2019.
- His advice to newcomers in the industry.
Key Takeaways:
- Sometimes you have to commit to the universe that it's time to move on and the universe will look out for you.
- Focus on getting business done, so you can go back to living your life outside of work.
Connect with Caribou Honig:
- InsureTech Connect
- InsureTech Connect 2019
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Safiya Reid, the Compliance & Reporting Manager for the PURE Group of Insurance Companies, shares her dos and don’ts for meeting diligent effort search requirements. Her secret for success: Fill out those diligent effort forms completely!
And if you only learn one thing from this podcast, let it be this: Have a plan in place to handle your compliance needs BEFORE you expand into new states.
Karen Pollitt and Rona Finkelstein are both members of the Association of Insurance Compliance Professionals (AICP), a group that aims to educate members of the industry with good compliance practices, training, and career opportunities. Karen is the Assistant Vice President of Compliance at AXIS Capital and brings with her over 30 years of professional experience. Rona is the Chief Compliance Officer for Chesapeake Employer’s Insurance Company and oversees its corporate regulatory compliance program.
In this episode, Karen and Rona share their story on how they joined the insurance industry. Karen describes how her sports background influenced her career decisions while Rona explains why she left a career in academe for insurance. They discuss their roles and responsibilities and how they discovered the AICP. They also describe what the AICP is, their overall mission, and what you can expect from the AICP Annual Conference.
“Having access to the right information is going to make a difference in your day-to-day work.” - Karen Pollitt
Today on Spot On Insurance:
- Why Rona and Karen decided to be part of the insurance industry.
- The reason Rona left her career as a teacher.
- Karen's sports background and how it supported her career.
- Karen's responsibilities as Assistant Vice President.
- Rona's role as Chief Compliance Officer and some of her functions.
- What AICP is, it's history, and how they heard about it.
- Programs, guests, and what to expect from the annual conference.
Key Takeaways:
- Knowledge and resources are crucial to success in any industry.
- Getting involved with organizations can be the beginning of your networking opportunities.
Resources Mentioned:
- 2019 Annual Conference
Connect with Karen Pollitt:
- AXIS Capital
Connect with Rona Finkelstein:
- Chesapeake Employers' Insurance Company
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Joyce King, the Quality Assurance Administrator for ILSA, shares her dos and don’ts for Doing Business As names or DBAs. Her secret for success: Be sure that the name you want to use is available everywhere you want to use it before you start filing for DBAs.
And if you only learn one thing from this podcast, let it be this: If you’re using any name other than the one that appears on your Articles of Incorporation or Formation, see if you need to register a DBA.
Carey Anne Nadeau is the CEO & Founder of ODN, a data science and insurtech company that collates and interprets public records and statistical data to give clients quantifiable advice on business risks. Carey combines the spirit of a success-driven entrepreneur and the intelligence of an MIT-trained statistician to modernize the way we do risk management. She has a Masters degree in City Planning from the Massachusetts Institute of Technology and a Bachelor of Arts in Public Policy from the George Washington University.
In this episode, Carey describes how her company aims to revolutionize the way we measure risk. She shares the challenges she faced in corporate America and the reason she founded ODN. She shares some mind-blowing statistical facts and explains how they gather data and measure it. Carey also explains why those new to the industry should invest more in social media.
“In the United States, there’s enough data now to build predictive models and use that data to reliably estimate where things are going to go wrong.” - Carey Anne Nadeau
Today on Spot On Insurance:
- Carey Anne Nadeau's humble beginnings and how she came to join the data science industry.
- Why she chose to get a degree in City Planning.
- Her childhood and how her past experiences guided her to where she is today.
- Her struggles against the corporate patriarchy and how she overcame them.
- The political thoughts that helped her focus on data science.
- What ODN stands for and how she came up with that name.
- The kind of public records available and what their company seeks to do.
- The big problem with insurance pricing models.
- Exciting facts regarding public records and data trends.
Key Takeaways:
- If you're promoted to a higher position with more duties, make sure to check that against the people doing half the job as you are and getting paid twice as much.
- About 2.5 billion records are produced every year by the US government.
- Data science can make an otherwise dull number into a mind-blowing statistic.
Resources Mentioned:
- Ep.104: The Student Debt Crisis and How Employee Benefits Can Help
- Insurance Nerds
Connect with Carey Ann Nadeau:
- ODNsure
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today our guest is Dan Brown, a partner with Drinker Biddle, a full-service law firm that provides litigation, regulatory and business solutions to public and private corporations nationwide. Dan shares his dos and don’ts for brokers in the London markets who need to comply with U.S. insurance laws and regulations. His secret for success: Know which activities you can and can’t engage in, for each state.
And if you only learn one thing from this podcast, let it be this: Don’t put all your eggs in one basket; have more than one surplus lines-licensed individual to support your agency licenses.
Toby Brazwell is an Area Sales Leader at Farmers Insurance, an insurance company founded by people with rural backgrounds. Other than being an expert in sales, Toby is a talented musician, writer, and host of the Riffs on Riffs Podcast as well as the author of The Empowerment Chords, a book that guides hardworking people to find the right balance for their careers, families, and personal lives.
In this episode, Toby shares his humble upbringing, his passion for hip-hop, and how he eventually settled for a prolific career in the insurance industry. He describes his life before insurance, the moment he decided to work in corporate, and how he managed to grow as a person and as a professional. He shares his primary motivations, the various challenges he had to overcome and the inspiration for his book as well as the lessons you can learn from reading it.
"As an insurance professional, it's important to present the best version of you at all times." - Toby Brazwell
Today on Spot On Insurance:
- Toby's personal background and his passion for music.
- How he balanced his passion for music and his professional career.
- The challenges that helped him become better in the insurance industry.
- How he responded when his employer wanted him to change his hairstyle.
- Racial matters and how it is still a factor in lead conversion.
- The reason he wrote his book and what readers can expect.
- What it means to treat your last name as if it's a brand.
Key Takeaways:
- Insurance is a relationship business, so stop slamming people with sales talk.
- You can find power in changing your perspective.
- Being an African-American can make selling insurance tougher, depending on the demographic you are selling to.
Connect with Toby Brazwell:
- Farmers Insurance
- Email: tbrazcreations@gmail.com
- Riffs on Riffs Podcast
- The Empowerment Chords
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, ILSA’s Surplus Lines Tax Filings Supervisor, Sherry Groves, shares her dos and don’ts for using OPTins for surplus lines tax filings. Her secret for success: provide OPTins administrators with complete producer and banking information from the very beginning, and then keep that information up to date.
And if you only learn one thing from this podcast, let it be this: Don’t wait until the last minute to register with OPTins.
Andy Storch is a Coach, Talent Development Expert, and host of two popular podcasts: the Talent Development Hot Seat, a podcast on trends in talent development with leading talent development professionals in the industry, and The Andy Storch Show - a podcast on mindset, motivation, and leadership. Andy’s job revolves around connecting companies with solutions that would enable them to inspire their employees to do their best. Unlike other business consultation companies, Andy takes the time to get to know the company before offering his solutions.
In this episode, Andy shares the kind of work he does, the people he works with, and some of the skills he uses to improve the way he handles his business. He explains why failure is not a bad thing and describes some of the obstacles business leaders face regarding improving a large company. He also discusses his podcasts, the ideas that inspired him to start them, and the various conversations he wants to share with others.
"We don't know what the future looks like and if you're not ready to adapt, you're probably going to be left behind." - Andy Storch
Today on Spot On Insurance:
- Andy’s career and how he helps his clients.
- How he interprets failure as a form of motivation.
- How he provides companies with learning solutions.
- Why working with the wrong manager can make you quit a job you love.
- The biggest hurdles in trying to help an organization.
- The power of networking and how it changed his life.
- How Andy started his podcast and the kind of topics he covers.
- Tips for running a podcast and how to grow your podcast network.
- Advice to people entering the insurance industry.
Key Takeaways:
- Relying on old, traditional business methods will destroy your company.
- Everything is an experiment. We can try stuff and fail, but it's not a failure. It's just information to help you adjust your path.
Resources mentioned:
- Rich Dad, Poor Dad by Robert Kiyosaki
- Make Change Work by Randy Pennington
- Never Eat Alone by Keith Ferrazzi
- Mindset by Carol S. Dweck
- Multipliers by Liz Wiseman
- Podcast Movement
Connect with Andy Storch:
- Andy Storch official website
- The Andy Storch Podcast
- Talent Development Hotseat Podcast
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, ILSA’s Licensing and Compliance Supervisor, Traci Houston, shares her dos and don’ts for Designated Responsible Licensed Producers (DRLPs), commonly known as Designated Producers. Her secret for success: know how you can – and can’t – use your DRLP’s license.
And if you only learn one thing from this podcast, let it be this: Choose your DRLP carefully and have a back-up in the states that allow it.
Rob Galbraith is known as the Most Interesting Man In Insurance. He is a keynote speaker, an InsurTech thought leader, and author of the book The End of Insurance As We Know It. As a speaker, Rob has spoken at events all over the world on topics such as innovation, InsurTech, and what people can look forward to in the insurance industry. He has over 20 years of experience working in the financial services industry and once worked for the Federal Reserve and Citigroup.
Rob joins us to discuss the idea behind his book and what inspired its title. He describes his life before he entered the industry, the companies he’s worked for, and the lessons he’s learned along the way. He explains the difference between the young and old generations in the insurance industry and what they could learn from each other. He also shares some of the countries where startups will thrive, what he thinks is coming to the insurance industry, and advice to young people interested in becoming part of the insurance industry.
"Insurance is the perfect product for our digital age." - Rob Galbraith
Today on Spot On Insurance:
- How the insurance industry is about to be disrupted by millennials, venture capital, and InsurTech.
- His plans for life before he joined the insurance industry.
- Do young people have a competitive advantage if they come into the industry with a startup?
- The language barrier between the young and old generation.
- What large, traditional companies should do to keep up with new startups.
- The opportunities for startups in countries where the insurance industry is still at its infancy.
- Why insurance is the perfect digital product.
- What the future of insurance looks like.
- Advice to young insurance professionals entering the industry.
Key Takeaways:
- It's generally easy to get into the insurance industry if you have a decent capital.
- It's mind-blowing what technology has allowed us to do in our everyday lives.
Resources mentioned:
- InsurTech Connect
Connect with Rob Galbraith:
- End of Insurance
- The End of Insurance As We Know It book
- Email: rob@endofinsurance.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Sabrina Slater, Manager of the Annuals & Corporates Department at ILSA, Inc., shares her dos and don’ts for letting go of agency insurance licenses you no longer need. Her secret for success: The insurance department isn’t the only regulator you need to work with.
And if you only learn one thing from this podcast, let it be this: Letting a license lapse doesn’t automatically end your compliance obligations!
Jonathan Mentor is an Employee Benefits Broker for Foa & Son Corporation, a company of international insurance brokers located in New York City. He consults employer groups of various sizes and guides them through the complexities of the wellness, health, rewards, and insurance of their employees. Some of Jonathan’s accomplishments in Foa & Son include closing sales which resulted in a 22% revenue increase and improving the company’s internal systems through tech partnerships.
In this episode, Jonathan joins us to share his thoughts on the Student Debt crisis and how it affects the economy as well as the insurance industry. He describes his life before he joined the insurance industry and some of his career challenges and highlights. He explains the difference in economic values from previous years and what millennials experience today. Jonathan also discusses how the value of a college degree has become more of a status symbol now than a necessity for financial success.
"You can't teach somebody to be relatable, empathetic, and compassionate." - Jonathan Mentor
Today on Spot On Insurance:
- Jonathan's life journey, the challenges he faced, and how they influenced his career decisions.
- The reason behind his interest in being part of the insurance industry.
- His views on the current student loan crisis in the US.
- The difference between the job economy decades ago and how it is today.
- Innovative solutions to student debt problems.
- How the gig economy and job hopping has enabled higher levels of financial success.
- Why a 4-year degree is not necessary for a decent living.
Key Takeaways:
- Student loans are a major indicator of the economic health of the emerging generation.
- You want to connect with the broker that's really connecting with what your business objectives are.
- Higher education is about to be disrupted into lowering costs by new technology.
Connect with Jonathan Mentor:
- Foa & Son Corporation
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, Tameika Johnson, Annuals & Corporates Supervisor at ILSA, Inc., shares her dos and don’ts for changing your business’ corporate structure. Her secret for success: If you change your corporate structure, don’t keep it a secret. Tell everybody!
And if you only learn one thing from this podcast, let it be this: Changing from Inc. to LLC isn’t a name change; it’s a corporate structure change!
Patrick Bet-David is an entrepreneur and the Founder & CEO of The PHP Agency, the fastest growing financial services company in the United States. The goal of his company is to innovate the culture and diversity of the insurance industry and open new entrepreneurial opportunities to individuals throughout the United States. Patrick has extensive experience as a financial advisor, business coach, public speaker, and YouTube creator.
In this episode, Patrick shares his thoughts on the current economic trends and how the next few months will determine how severe the next crash will be. He shares what his life was like before he became an entrepreneur, specifically the time when he escaped war-torn Iran, and how he got his first experience as an entrepreneur in Germany at the age of 10 years old. He also discusses the five stages of being an entrepreneur and how business owners can protect their company as well as shares his thoughts on what he believes will happen after Trump’s presidency ends.
“Most people put so much emphasis in areas that help the company grow linear and not exponential.” - Patrick Bet-David
Today on Spot On Insurance:
- Patrick's life in Iraq and how he overcame the challenges he faced on his way to success.
- How he accidentally avoided the 9/11 attack.
- The challenges their agency faced during the first few years.
- The five stages of being an entrepreneur.
- Historical market trends, statistics, bull runs, and crashes.
- Stoicism and how it can help entrepreneurs protect their businesses.
- How politics, minorities, and Millennials factor in the success of the insurance industry.
Key Takeaways:
- There's a 90% turnover ratio to any commission-based profession.
- Every five years we have a small crisis. Every ten years we have a massive crisis.
- The government doesn’t understand the power of minorities and immigrants.
Connect with Patrick Bet-David:
- The PHP Agency
- Valuetainment
- YouTube Channel
- Valuetainment Vault Conference
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, ILSA’s Surplus Lines Supervisor, Brian Allen, shares his dos and don’ts for meeting circulation of risk – aka due diligence – requirements in Puerto Rico. His secret for success: Make PR’s website your first stop. (You’ll need to log in to the site.)
And if you only learn one thing from this podcast, let it be this: Due diligence is an essential part of surplus lines compliance, but each jurisdiction has its own procedural quirks.
Christian Wiens is the Co-Founder and CEO of Getsafe Insurance, an Insurtech startup built specifically for the smartphone generation. Getsafe lets you manage everything related to your insurance in one app. Christian has always displayed an entrepreneurial spirit, having founded his own music school during his school days, and holds multiple degrees in Mechanical Engineering and Business Administration from TU Darmstadt.
In this episode, Christian shares his passion for entrepreneurship and what led him to start an Insurtech company. He discusses the type of markets they work with in Germany and how they structured their business around it. He explains what insurance will look like in the coming years and how companies should approach the younger generations. He also describes some of their business strategies particularly on how they do customer service.
“If you look at insurance on a global level, the risks people want to cover are always the same. What changes is the bundling.” - Christian Wiens
Today on Spot On Insurance:
- When Christian decided to become part of the insurance industry.
- Some of the hurdles he's encountered in his career.
- The systems that have to change to accommodate today's clients.
- His inspiration in starting Getsafe and their first few months in business.
- Why their company focused on liability insurance.
- Differences that set Getsafe apart from the competition.
- What the market in Germany looks like.
- Their business model and how they attract the kind of market they have.
- Advantages and disadvantages of coming from outside the insurance industry.
- The regulatory landscape in Germany and how long it takes before you operate.
- How they make customer service better for their clients.
Key Takeaways:
- Owning a business in any industry is like running a marathon.
- The insurance of tomorrow will look more like a companion than a contract.
- Young people should not be afraid to meet an agent or broker.
Connect with Christian Wiens:
- Getsafe
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, ILSA’s Licensing and Compliance Supervisor, Stefanie Cantu, shares her dos and don’ts for license cancellations. Her secret for success: Properly cancel licenses you no longer need; don’t just let them “lapse” at renewal time.
And if you only learn one thing from this podcast, let it be this: Surplus lines compliance obligations don’t go away until you properly cancel your surplus lines license!
Sahar Ismail is the CEO of Legacy Armour, an AI-powered platform designed to protect your assets and guarantee an efficient transfer to recipients should an unfortunate life event happen. SaI Sofia is the CEO of IQS, an insurance company with over 30 years of experience in life, disability, and property insurance among other services. Sahar drew inspiration in founding the company from an unfortunate life experience while SaI helps her platform to thrive in the insurance industry.
In this episode, Sahar and SaI discuss the importance of estate planning. They describe some of the benefits of planning ahead and cite real-world scenarios of what happens when people don’t prepare their wills and trusts. They also explain how Legacy Armour works and how it guarantees a smooth transition of assets as well as share great advice to newcomers in the insurance industry.
“You don't need licensure to become a person who wants to help a family do the right thing.” - Sal Sofia
Today on Spot On Insurance:
- Sal and Sahar's career background and how they started working in the insurance industry.
- Real world scenarios where proper estate planning would have helped.
- How people can learn from Gerald Cotten's death.
- How their platform works and helps clients with their succession plan.
- What Zero Knowledge Encryption is and why it's difficult to implement.
- Why working with an advisor is critical in estate planning.
- The type of assets you can leave for your loved ones.
- Their inspiration in starting Legacy Armour.
- What's in store for their company in the next few months?
- Their advice to newcomers in the insurance industry.
Key Takeaways:
- When a person starts doing the things they really need to be doing, it frees them to do more of the right thing and to do better things in their lives.
Resources mentioned:
- Gerald Cotten’s death
- InfraGard
- National Association of Realtors
- InsureTech Connect 2019
- Purple Cow by Seth Godin
Connect with Sahar Ismail:
- Legacy Armour
- Email: sahar.ismail@legacyarmour.com
- Phone: 1-844-YOURLEGACY ext. 100
Connect with SaI Sofia:
- IQS
- IQS Podcast
- Email: info@iqsinsurance.com
- Phone: (561) 459-0222
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. In our debut episode, ILSA’s Quality Assurance Administrator, Joyce King, shares her dos and don’ts for individual and corporate name changes. Her secret for success: Contact the right regulators in the right order. Joyce has a lot of other great how-to tips, as well.
And if you only learn one thing from this podcast, let it be this: Don’t confuse a name change with a corporate structure change!
Our podcast has grown so much more than a program about insurance regulators, attorneys, and companies. We’ve landed some of the most amazing individuals in and outside the country that even we couldn’t believe how far we’ve come. And to celebrate the success of our podcast, we’ve decided to have some of ILSA’s core management team as our guests for episode 100!
In this episode, we discuss how the industry has changed over the years and what we can all look forward to - not just ILSA, but the insurance industry as a whole. The team shares their previous careers before joining ILSA, what it was like at first, and the lessons they learned from the company. They explain the technical side of licensing and regulations and some of the consequences for non-compliance. They share great tips for newcomers as well as describe why ILSA is such a unique company to work for.
“Never settle for the initial training you receive. Always have a mindset of being an asset to the company.” - Kristy Roberts
Today on Spot On Insurance:
- The team's professional background before they joined ILSA.
- How the insurance industry evolved over the last 20 years.
- Where ILSA is right now with new and emerging technologies.
- Paying fees and submitting reports according to state regulations.
- Placing policy coverage in surplus lines and some of its requirements.
- Changing tax ID numbers and why it's a pain point.
- Different types of Zero reports and their individual purpose.
- Changing corporate structures and how it affects licensing.
- Common cybersecurity issues and how each state handles them.
- Tactics hackers use to get to corporate computers.
- What newcomers need to do to become successful in this industry.
- What makes ILSA such a great place to work
Key Takeaways:
- Most businesses don't look at the licensing ramifications and expenses that go behind changing a corporate structure.
- Blockchain is set to revolutionize the industry in ways many business owners can’t imagine.
- Every state has different regulations about when a report is due or how you should pay fees.
Resources mentioned:
- Whale Done! by Ken Blanchard
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Oscar Garcia is the Founder and CEO of Uulala, a blockchain-powered company that seeks to support the financial inclusion of under-banked and unbanked groups of people through a smartphone app. Before becoming an entrepreneur, Oscar wanted to become a US Olympic diver. An unfortunate injury caused him to transition to business and eventually led to starting Uulala. He is joined by Andre Urena, vice president and Head of Latino Partnerships.
Oscar and Andre join us today to share the goal of Uulala and how it helps people have financial credibility despite their under-banked or unbanked status. They discuss their humble beginnings and what inspired Oscar to develop Uulala. They explain the need for this type of technology and describe how it works, citing real-world examples. Oscar also shares his wisdom when it comes to starting, running, and scaling a business.
“You will get more referrals from people who like you than from those you treated as another number.” - Oscar Garcia
Today on Spot On Insurance:
- What inspired Oscar to start Uulala
- How his swimming career came to an abrupt end.
- Some of the biggest struggles he encountered as an entrepreneur.
- How Uulala can help millions of people with electronic money transfers and loans.
- How their technology can integrate with the banking industry.
- How the insurance industry can benefit from using Uulala.
- Regulatory hurdles they faced along the way.
- What's in store for Uulala in the near future.
Key Takeaways:
- Technology is great, but if you're not human to other people, you won't go far in any business.
- One of the biggest problems with industries is they're fragmented.
- Technology saves time and saves money, but it could also be used for social impact.
- Your family is one of the biggest supporters and challenges in business.
- In building a business, you have to get rid of every single negative person in your life.
Resources mentioned:
- Opening the gates of the digital economy
Connect with Oscar Garcia:
- Uulala
Connect with Andre Urena:
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Kevin Bingham is the Managing Director at Deloitte, where he has 21 years experience in consulting. A 26 year veteran of the industry, Kevin leads the medical professional liability practice with an analytical focus on Workers’ Compensation claims. He is a renowned public speaker and has published more than 80 articles on advanced analytics. He is a Licensed Associate of the Casualty Actuarial Society (ACAS), a Certified Member of the American Academy of Actuaries (MAAA) and is a Certified Specialist in predictive Analytics. Additionally, he is a AAA volunteer, CAS volunteer, and an Advisory Board Member and MPL Conference Chair of ExecSummit.
Kevin joins us today to share how volunteer programs help improve employee retention. He shares his thoughts on how to effect meaningful change by giving employees new opportunities and leadership roles within projects. He also emphasizes how these charitable programs are attracting students and employees and the regulatory hurdles involved in volunteering internationally.
“You only have so much time in a day, so you have to be very effective about where you use your time to make the biggest influence on people.” - Kevin Bingham
Today on Spot On Insurance:
- Kevin’s background and his passion for people development.
- The challenges faced in college and coming into the industry.
- Why he spearheaded The People to People Program and The Parenting Champion Network.
- How Deloitte’s professionals are using the skills they have learned in a way that helps others in society.
- The meaning of skills-based volunteering and how the skills of Deloitte’s people help charity projects.
- How project applicants receive an eight-month training program with five learning modules.
- The real benefits of having a charity program.
- The topics covered in the Parenting Champion Network (PCN), Parenting Success Guide (PSG), and the Women's Initiative (WIN) Parenting Call Series.
- The regulatory hurdles of volunteering internationally.
- What’s in the pipeline in the Deloitte organization for employee resources.
- A piece of advice for people just entering the financial services industry.
Key Takeaways:
- Give people at a young age the opportunity to lead a project and use their skills.
- Charity programs resonate with students and employees, and for them, it can be a life-changing experience.
Resources mentioned:
- Ep. 89: A Cutting Edge Insurtech – Merging Data & Actuarial Science
Connect with Kevin Bingham:
- Deloitte
- Email: kbingham@deloitte.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Jeff Kleid is an author, speaker, innovator, and elite networker. He offers networking, consultation, and project development services to businesses in the cannabis, insurtech, insurance, fitness, and real estate industries among other sectors. Over the course of his illustrious 25 years experience in insurance, he has helped business design and implement strategic programs that boosted their growth and sales.
Jeff joins us today to share his professional history and some of the bumps he encountered along the way. He describes his life before he became an entrepreneur, discusses his passion for starting and selling companies, and his criteria when it comes to developing products to sell. He also explains why he wrote the book: Networking With The Cards You Are Dealt, why working with competition is a great strategy, and considerations you have to make before you develop new technology.
“We might be entrepreneurial business owners, but the reality is we're here to serve somebody.” - Jeff Kleid
Today on Spot On Insurance:
- How Jeff started his career and how he ended up in the insurance industry.
- Comparing and contrasting working at a theme park and working in the insurance industry.
- What it's like to work in the entertainment insurance industry.
- How they started their company in the '90s, its growth, and why he left.
- The companies he started and sold throughout his career.
- The primary objective of being an entrepreneur.
- His inspiration for his book and why he wrote it.
- The groups and organizations he's affiliated with.
- Why competitors are great to work with.
- His thoughts on the CBD industry and the regulatory steps involved.
- Questions developers should ask regarding new insurance technologies.
Key Takeaways:
- If you're a salesperson in the insurance business, you can be a technical person who happens to sell insurance.
- You have to have the right technology, the right employees, prepared to lose money, and you have to go above and beyond to give better service than anyone can imagine.
- You can't just create a product and expect it to sell. It has to be designed to solve a problem and aim at the needs of the consumer.
Resources mentioned:
- Ep. 74: Grow Your Agency With LinkedIn
- Ep. 92: Trailblazing Cannabis in the Insurance Industry
Connect with Jeff Kleid:
- Jeff Kleid official website
- Email: jvkleid@eliterisk.com
- Networking With The Cards You Are Dealt book
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Douglas Dick is an Underwriting and Claims Trainee at Sompo International, a large property and casualty insurance group that caters to the Japanese domestic market. Douglas’s responsibilities include protecting the company from possible financial losses, determining which individuals are high risk, and whether certain clients should have coverage or not. Despite being new to the industry, he brings with him extensive experience interning for companies in the commercial sector and restaurant service as well as a vast networking experience.
Douglas joins us today to share how he went from student to intern and the exciting stories and experiences throughout his journey. He shares the lessons he has learned from the various companies he interned for. He also describes some of the challenges he overcame in transitioning to becoming a professional and shares how his first mentor helped him find his passion in this industry.
“When you conclude an internship, follow up and foster the relationship you formed.” -Douglas Dick
Today on Spot On Insurance:
Douglas's career background and how he started working in the insurance industry.
- The networking events he was able to attend and what they were about.
- The skills that helped him transition from student to employee.
- The moment he realized he needed to invest in himself.
- His first mentor and how it impacted his journey.
- The internships he did, his mindset, and the fears he had.
- What you should look for when choosing a company.
- His responsibilities at Sompo International.
- The difference between adequate and excellent systems.
Key Takeaways:
- In looking for your first job, find management that cares about development.
- We can't do this alone. We need people in our tribe and people to support us in becoming successful.
- As a student, make sure you build something for your future because nothing will be handed to you.
Connect with Douglas Dick:
- Sompo International
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Marcus Flesher is the Agency Development Director at Pacific Crest, a company that serves insurance agents and supports them in building their independent agencies. Their company grants agents access to carriers, higher commission, and book ownership of their business. His responsibilities include filtering new members, training agents into becoming truly independent professionals, and creating business strategies that complement new technologies.
Marcus joins us to share how he and Pacific Crest help agents grow in the insurance industry. He shares his backstory, how he became part of Pacific Crest, and the advantages of joining an alliance. He describes some of the factors agents look for in alliances as well as what alliances look for in new members. He also explains his definition of an independent agent as well as shares his advice for newcomers in the insurance industry.
“The trials that you go through are similar regardless of the business you have.” - Marcus Flesher
Today on Spot On Insurance:
- How he got started in the insurance industry.
- His professional background, his business ventures, and the challenges he faced.
- Why agencies consider joining alliances and its advantages.
- Factors agencies consider when choosing an alliance to join.
- How Pacific Crest started and what sets them apart from other alliances.
- His take on how to be a truly independent agent.
- The difference between equitable ownership and true legal ownership.
- What they look for when filtering new agents.
Key Takeaways:
- You have to hustle. You cannot make excuses if you want to be successful.
- Grab on to every piece of technology and develop your company strategy around technology.
Connect with Marcus Flesher:
- Pacific Crest
- Phone: (208) 938 4197
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Erik Wenzel is an InsurTech enthusiast and actuary. He describes himself as someone who has the brain of an actuary and passion of a Silicon Valley entrepreneur, and firmly believes the actuary profession is more than capable of leveraging opportunities presented by InsurTech. He currently works at CNA Insurance, a commercial property and insurance company that provides a range of insurance services for different sectors including construction, financial institutions, and healthcare.
Erik joins us today to shed light on the subject of actuarial science and how it interacts with the insurance industry. He describes how he dreamed about being an actuary and how it enables him to become an efficient insurance analyzer. He discusses the aspect of health, the real cost of insurance, and some of the associations he’s a member of. He also explains why he chose LinkedIn as his primary platform when it comes to sharing knowledge about the actuary profession.
“Insurance is a trillion-dollar opportunity for Silicon Valley to come in and disrupt it.” - Erik Wenzel
Today on Spot On Insurance:
- Why Eric studied actuarial science and how he ended up in the insurance industry.
- How being an actuary affects the way he analyzes insurance.
- His thoughts on the current health trajectory our society is going through.
- The cost of insurance from the perspective of agents and clients.
- The progress of actuaries in the InsurTech space.
- Why he uses LinkedIn as his platform to communicate with other actuaries.
- The insurance industry associations he belongs to and how they helped his career.
- His advice to young actuaries on how to become an expert.
Key Takeaways:
- You can't search Google and learn how to become a good actuary.
- A lot of an actuary’s work is using data over the last several years to determine what is going to happen over the next sixty years.
Resources Mentioned:
- Society of Actuaries
Connect with Erik Wenzel:
- CNA insurance
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Billy Williams is the founder and president of Inspire a Nation Business Mentoring Services, a company that specializes in insurance agent and small business coaching and mentoring. He and his company work with many top insurance agents and agencies as well as some of the world’s biggest companies and carriers. Billy’s extensive business leadership experience has made him a recognized expert speaker on topics such as growing a successful insurance agency, small business development, and minority business issues.
Billy joins us to share his wisdom on what separates a good leader from a great leader. He shares his time in the military, his first experience with wealth, and the day he founded his company. He describes the way he led his business when it was starting out and the technologies he’s applied since. He also discusses some of the aspects of the business that are rarely discussed such as how emotions affect the way we handle problems and solutions.
“We can’t be average. We have to be above average in all that we do.” - Billy Williams
Today on Spot On Insurance:
- Billy's life story, his time in the military, and how he became a successful business owner.
- The moment he learned the difference between income and wealth.
- What made him choose a career in insurance?
- His first agency investments and why he chose to invest in them.
- The challenges he faced and how he overcame them.
- His thoughts on why insurance agencies fail.
- What’s in the pipeline in 2019 for the insurance industry?
- His inspiration in developing their own CRM and why he doesn't want agencies to buy it.
- How his children influenced him to develop the technologies his company has.
Key Takeaways:
- A process is nothing more than a business habit. That's all it is.
- Once you acquired a property, you have to maintain it, manage it, grow it, and you have to know the financial aspect of it. The acquisition is only half the job.
- A person will work much harder to keep something they already have than to get something they never had.
- Emotions magnify the intensity of both our problems and solutions.
Resources Mentioned:
- Data Super Center
Connect with Patrick McManamon:
- Inspire a Nation Business Mentoring
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Patrick McManamon is the founder and managing director of Cannasure Insurance Services, a company that offers marijuana business insurance for dispensaries, collectives, physicians, and growers in medical and recreational marijuana legalized states. Apart from managing Cannasure, Patrick is also a regular speaker at the National Cannabis Industry Association events and has delivered keynotes about cannabis insurance and risk management in various states. Due to his expertise, he has been interviewed by media outlets such as the Wall Street Journal, CNN, and Bloomberg News.
Patrick joins us today to share the state of the cannabis insurance industry and how they help sellers with their insurance products. He explains the inspiration behind the company and what they intend to accomplish. He describes how the cannabis industry is growing and how marijuana has become accepted by most politicians and medical professionals. He also discusses the different regulations for this industry as well as describe just how strict state laws are when it comes to marijuana selling.
“This is one of the few industries where you have to do a lot of due diligence simply because it is so new.” - Patrick McManamon
Today on Spot On Insurance:
- How Patrick found a career that links both cannabis and insurance.
- Taking advantage of the medical cannabis boom.
- The career challenges he faced along the way and how he overcame them.
- How they succeeded in this type of industry.
- Why politicians and medical professionals’ views are starting to change when it comes to marijuana.
- Is the marijuana industry an unbanked industry?
- Strict regulations when it comes to procuring medical marijuana.
- Will recreational and medical use eventually split into two markets?
- What multistate vertically structured cannabis operators are and some examples.
- The type of technologies used in marijuana dispensaries.
- What Cannasure is, what they do, and the products they offer.
- The forecast for nationwide legalization of marijuana.
Key Takeaways:
- FDA involvement can add regulatory hurdles and make the already strict rules stricter.
- As with any industry, competition in the cannabis industry helps keep everybody honest.
- Every state law is different. If you just assume, you're going to get burned.
Resources Mentioned:
- National Cannabis Industry Association
Connect with Patrick McManamon:
- Cannasure
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Dr. Leroy Nunery is the Founder of Plus Ultre LLC, a management consulting company that focuses on improving the strategic, operational, and managerial capabilities of school districts, non-profits, charter schools, and medium-sized businesses. He has extensive experience in corporate banking and capital markets, and once served as Vice President of the National Basketball Association. Before starting Plus Ultre, he was the President of School Management for Edison Schools, Inc.
Dr. Leroy joins us today to share his views on diversity in the insurance industry. He describes the statistics of minorities in high ranking positions and explains why it’s difficult for minorities to climb the corporate ladder. He also discusses how minorities should enable themselves to be in a position where they are the preferred hire as well as some of the resources they can use to elevate themselves.
“You need to turn diversity from a corporate social responsibility into a personal accountability.” -Dr. Leroy Nunery
Today on Spot On Insurance:
- How Dr. Nunery started working in the insurance industry.
- Growing in an industry that doesn't view you as a participant.
- Similarities and differences between the financial services industry and sports industry.
- Finding where the best opportunities are in any industry.
- Traits of companies that attract minorities.
- What real inclusion means from a business perspective.
- How should companies leverage Employee Resource Groups or ERGs?
- Mastermind groups and how it cultivates diversity in any industry.
- The difference between sponsorship and mentoring.
- The indirect cost of a lack of employee retention.
Key Takeaways:
- Employee retention and in-house development are major factors in growing a business.
- There's a tremendous opportunity for wealth creation and providing financial stability in the insurance industry.
- In joining any industry, find the one aspect where you can excel in.
- The opportunity to educate yourself and get to another level is available for everybody, thanks to modern technology.
Connect with Dr. Leroy Nunery:
- Plus Ultre LLC
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Jessica Thayer is the Financial Services Practice Leader and Senior Vice President at Starkweather & Shepley, a company that specializes in many types of insurance programs such as affinity groups, alternative risk solutions, transportation, construction, and education. Jessica specializes in the financial and professional lines of insurance including Network Security & Privacy and Professional Liability. Before joining Starkweather & Shepley, she served as Senior Vice President for Liftman Insurance and Marsh.
Jessica joins us today to discuss cybersecurity and how this affects the type of insurance recommended to businesses. She shares real-world scenarios concerning hacking, data breaches, phishing, and other forms of cybersecurity threats. She also describes the evolution of cyber security issues and their resulting counter-measures as well as shares tips for those who want to work in the insurance industry.
“Cyber liability is an area many clients are struggling with. The risk of exposure is constantly evolving.” - Jessica Thayer
Today on Spot On Insurance:
- Why Jessica switched from trying to be a dentist to working in the insurance industry.
- The companies she's worked with over the course of her career.
- Cybersecurity issues, data breach stats, and the solutions companies can utilize.
- Cybersecurity insurance, how it works, and why businesses need it.
- Real world data breach scenarios, how they happened, and the aftermath.
- Cyber extortion and the various ways you can fight or prevent it.
- Cybersecurity concerns regarding the podcasting industry.
- Regulations in cybersecurity and what agents need to know.
- Current developments in cybersecurity and what we can look forward to.
Key Takeaways:
- Regardless of operating system, cyber security is always going to be a risk if you're not prepared.
Connect with Jessica Thayer:
- Starkweather & Shepley
- Phone: (401) 435-3600 ext. 2645
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Pradnya Nimkar is an Associate Data Scientist at CLARA Analytics, a claims service company that utilizes AI technology to provide the best doctors and resources for injured workers, reduce claims costs, and detect litigation risk. She has seven years of experience in actuarial analytics in the insurance industry. Being an actuary, Pradnya learned how to use tools specific to data science analytics such as Python, Statistical Modeling, and Natural Language Processing.
Pradnya joins us to discuss the numerous functions and responsibilities of someone working in the data science field. She shares how she found her passion for statistics and explains the role data science analytics play in the insurance industry. She describes the various methods they use for claims and explains why methods alone aren’t absolute as well as shares advice for data scientists who want to enter the insurance industry.
“Different methods have different assumptions, and they can perform differently.” - Pradnya Nimkar
Today on Spot On Insurance:
- Her academic and career journey, achievements, and how she got into the insurance industry.
- The typical roles and functions of a data scientist.
- How data science is applied in the insurance industry.
- The methods they apply to analyze data and interpret them.
- What an actuary is, what they do, and why they are admired in the industry.
- The challenges she faced in getting to where she is today.
- The products CLARA Analytics offer and her role in the company.
- How she benefits from being a member of actuary organizations.
Key Takeaways:
- Data science is just not about the methods, but the judgment of the actuary.
Connect with Pradnya Nimkar:
- CLARA Analytics
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Asher Spetner and Geoffrey Gottesman are part of the team behind Genesis, a life settlement company for high-end advisors and affluent consumers. Their primary goal is to help clients turn their life insurance into a cash asset. Asher is the Director of Operations and is largely responsible for the company’s growth and profitability. Geoffrey is the Managing Director and some of his functions include leveraging efficient strategies to hit goals and closing hard cases in the industry.
Asher and Geoffrey join us today to explain what the life settlement sector is about and how policyholders can benefit from it. They describe how their business works and how it helps clients who were otherwise unaware of the amount of money they can get from their life insurance. They share why this sector is often viewed from a negative perspective and how they plan to change that. They also share some of their future projects and ongoing developments.
“When you have an asset, it's worth something. It's either going away or not, but you can make some money out of it.” - Asher Spetner
Today on Spot On Insurance:
- Their backstory and how they started working in the insurance industry.
- Their motivation for chasing a career in the life settlement sector.
- Challenges they faced in their road to success.
- What most life insurance buyers don't know about their policies.
- Why the life settlement sector gets a bad reputation.
- Their advice for existing and new policyholders.
- Differences in premium policies between term and universal life insurance.
- How they plan to change the public perception of life settlements.
- Regulatory hurdles their industry deals with.
- The projects they have in store for their clients.
Key Takeaways:
- Less than 1% of insurance policies are being paid out.
- Sometimes the biggest challenge you will ever face is not knowing what to do.
- The life settlement space has been around for over a hundred years.
Resources Mentioned:
- Winning Is Everything Conference
Connect with Asher Spetner:
- Genesis
Connect with Geoffrey Gottesman
- Phone: (516) 945-6272
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Jerry Sullivan is the Chairman of G. J. Sullivan Co. Reinsurance, the focus company for the Sullivan Group of companies. He has over 60 years of expertise in the insurance industry, spanning the regulatory, investment, company, claims, program manager, reinsurance and wholesale aspects of the business. Decades after establishing the company that serves as the core of The Sullivan Group and alongside various partners, he continues to lead the group in developing new companies and approaches centered on insurance.
Jerry joins us today to demystify surplus lines. He explains its strengths and capabilities, providing significant background information on how the system came to be. He discusses the areas in which surplus lines work, where the concept could use some improvement, and explains specific rules governing regulations for surplus lines carriers domiciled in and outside of the United States. He also emphasizes why it is important to take all of these concepts and present them in a manner that uses minimal jargon and is tailored for the growing audience of newcomers in the industry.
“In dealing in the world of risk and intangibles, it’s easy to confuse people who don’t understand risk. There are some people who choose to take advantage of that reality and that’s why regulation is there.” - Jerry Sullivan
Today on Spot On Insurance:
- How Jerry got started in the insurance business.
- How he played a critical role in resolving a major statewide insurance controversy — and ultimately, revising state policy.
- The basic concept of the regulatory perspective of the United States.
- The misconceptions about surplus lines, and the truth behind them.
- Guidelines and financial requirements for surplus lines across states.
- The vetting process for surplus lines carriers.
- What it means for a surplus lines carrier to be “eligible.”
- What an export list is, and why it’s needed.
- The importance of avoiding jargon and discussing advanced industry concepts in a more relatable manner.
- How Surplus Lines is a much more involved business than the standard retail approach.
- Why different risks entail different approaches and therefore merit closer examination.
- How insurance associations benefit their members.
- How he and his company are focusing on new, emerging risks.
- The impact of emerging technologies such as blockchain, etc. on the surplus lines operations.
- How the concept of “disruptive technology” is a serious mistake that is often heard when getting into these new technologies.
- His advice for new players in the industry.
- Why customer focus is not a new thing at all.
Key Takeaways:
- There are two kinds of guidelines for surplus lines in the United States: Standard state regulation for carriers domiciled in the United States, and oversight from either the National Association of Insurance Commissioners or the Department of Insurance for carriers domiciled outside the United States.
- Insurance organizations are crucial in keeping insurance businesses working properly, and in resolving their major problems.
- Better processing of information is the heart of understanding the ability to better take risks.
- Working in the claims department, even for a brief time, is a truly educational experience.
- At the end of the day, it’s about making sure that the risk taker’s problems are being taken care of in an effective manner.
Resources Mentioned:
- Global Pirates: Fraud in the Offshore Insurance Industry by Robert Tilman
Connect with Jerry Sullivan:
- G.J.Sullivan Co. Reinsurance
- The Sullivan Group on Facebook
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Jon Sabes is the CEO at GWG Holdings, Inc., the parent company of GWG Life which is a financial services company that aims to transform the life insurance industry by means of disruptive and innovative technology, products, and services. He has structured over $900-Million in financing commitments for his related businesses. He also has over 20 years experience in the fields of venture capital, finance, business development, federal taxation, and managerial operations.
Jon joins us today to explain how epigenetics can help life insurance companies better understand their clients before they become policyholders. He shares where he got the idea of connecting epigenetics and insurance, his passion for genetics, and how our genes can predetermine our health risks. He also discusses some of the challenges of running this type of business as well as what he enjoys about it.
“Learning about genetics has been the most fascinating part of my entire professional career.” - Jon Sabes
Today on Spot On Insurance:
- How he got started in the genomic industry and what inspired him to pursue this career.
- How a UCLA Geneticist impacted the way their company worked.
- The difference between genetics and epigenetics and their insurance applications.
- How his company can help the insurance industry determine an applicant's real health status.
- The difference between a genetics test and and an epigenetics test, what they do.
- The challenges of this type of testing and how cost factors into it.
- The regulatory landscape for the business they run.
- Why he finds this type of business fun and exciting for this industry.
- What he and his company plan to do in the future.
Key Takeaways:
- We can use epigenetics to allow people to get the best rates for their life insurance.
- Non-smokers and non-drinkers can acquire smoking and alcohol-related diseases by way of genetics.
- Technology is the path to a better and more efficient industry. Stay cognizant of global trends and technology and leverage them to your advantage.
Resources Mentioned:
- Steve Horvath
- Elizur Wright
- Joe Rogan Experience #1169 - Elon Musk
Connect with Jon Sabes:
- Jon Sabes official website
- GWG Life
- YouSurance
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Chris Cheatham is the CEO of Risk Genius, an online platform that aims to be the “Google” of insurance policies. It makes use of artificial intelligence and advanced algorithms which can streamline the work of underwriters, brokers, and everyone in between. Chris had a great career as an insurance attorney in Washington, D.C. before deciding to provide a solution to the messy document problems he encounters every day.
Chris joins us to share what Risk Genius is all about, how it works, and the problems it can solve. He describes his career before Risk Genius and what pushed him to start the company. He explains how he and his team developed the Risk Genius program and the various challenges they faced along the way. He also shares solid advice to those wanting to launch a startup in the insurtech industry.
“Learn as much as possible and learn to speak the language as well.” - Chris Cheatham
Today on Spot On Insurance:
- Chris' backstory before he founded Risk Genius.
- The challenges he and his company faced during development.
- What he's learned from rappers and how he applies them to his business.
- How being a lawyer affected the way he runs his company.
- The Shark Tank competitions he held last year.
- The inside scoop on the future of Risk Genius.
- How similar is their product to search engines like Google?
- His advice to insurtech startups.
Key Takeaways:
- The more you focus on customers’ needs, the better things go.
- Put yourself in the shoes of the client’s insurance broker for the client you want to land.
- Compile ways you can add value for your insurance client by analyzing the holes in their insurance policy.
- RiskGenius has a product called GeniusCheck that takes an insurance policy, extracts the key information, and allows you to compare that information across other policies and quotes.
- If we want to survive, we have to reinvent ourselves.
- Learn constantly, speak the language of your industry, and tell your story within your industry.
Connect with Chris Cheatham:
- Risk Genius
- Email: chris@riskgenius.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Matt Daniels is the CEO of Unity Group Ventures LLC, a disabled veteran owned and operated company that utilizes drone technology to provide high-quality data to clients in the insurance industry. Matt’s experience flying on aerials platforms allowed him to find ways to merge drone tech, insurance adjusting, and damage assessment. He and his colleagues’ military involvement sets them apart from other companies concerning data collection not just in the insurance industry, but also in architecture, engineering, and large-scale construction.
Matt joins us to share how drone technology can be utilized to accurately and efficiently provide data to insurance professionals, especially in times of crisis. He describes how his military experience lead him to explore his inner entrepreneur, what made him think of applying drones in insurance, and what his company stands for. He shares some of the amazing ways drones can help hasten the process of data collection and claims as well as provide tips on leadership and team management.
“Business is not about sales, profit, and revenue. It's about people. It's people providing value for other people.” - Matt Daniels
Today on Spot On Insurance:
- Matt's time in the military and how it shaped him to become an entrepreneur.
- How you can tell if someone has an entrepreneurial gene.
- How he developed his leadership skills and his tips for those who want to do the same.
- Why he decided to combine drone tech and insurance.
- How you can look for ways to improve an established system.
- What drones can do to make insurance inspection easier and faster.
- Locations where drones can't be utilized or operated.
- Why he advocates for personality tests when it comes to working relationships.
- The drones and other technologies he finds impressive today.
Key Takeaways:
- Shifting your environment can precipitate change in your life.
- If you're going to lead, you have to learn how to follow first.
- We don't do enough to leverage the amazing technology we have in our hands.
Connect with Matt Daniels:
- Unity Group Ventures
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Sabrina Slater is the Annuals and Corporates Manager at Insurance Licensing Services of America (ILSA). Her background in recurring services and compliance enables her to have the best skill-set for this position. Her functions involve submitting registrations with the Secretary of State and Department of Revenue, providing liaisons with partnered agents, and Certificate of Authorities reinstatements. She has worked with ILSA for almost eight years and has since garnered multiple accolades that are a testament to her capabilities.
Sabrina joins us today to discuss what it’s like to be the Annuals and Corporates Manager. She explains the role she plays in the company and daily tasks. She also explains what agents need to know when it comes to preparing documents for clients, records to always keep in mind, and questions to always ask.
“As an agent, you want to go in and do your research. Make sure you have everybody in a spreadsheet.” - Sabrina Slater
Today on Spot On Insurance:
- What inspired Sabrina to build her career in the insurance industry.
- The value of attending insurance seminars.
- How to prepare a licensing and compliance budget.
- Documents other than licenses agents should be prepared for.
- Tips for agents who work with outsourcing companies.
- The impact of offering electronic services
- How she handles budgeting for withdrawals and tax returns.
Key Takeaways:
- Technology has advanced enough that a process that used to take a month can be completed in 24 hours.
- The industry can be overwhelming, but keep in mind there are resources and professionals that can help newcomers adjust.
Connect with Sabrina Slater:
- ILSA
- Phone: 254-7296109
- Email: sslater@ilsainc.com
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Jeff Arnold is the President for RightSure Insurance Group, providing for the interest of policy holders in 42 states. Jeff is the author of “The Art of the Insurance Deal” Part of his life’s journey includes five years in the United States Army at the 45th Aviation Battalion (SPEC OPS).
Jeff joins us on the podcast to share how he went from Special Ops in the Army to a standup comedian in California to working in the insurance industry. He is an eloquent ambassador for the Industry. He loves what he does and and encourages you to find your niche in the wonderful world of insurance.
“It (insurance) really is the industry that lets you satisfy so many longings, and can answer and provide solutions to so many dreams you have.” – Jeff Arnold
Today on SpotOn Insurance:
- What is Jeff’s life story and his role at the 45th Aviation Battalion?
- How did Jeff overcome core obstacles?
- What was involved in his struggle to buy back his company?
- How does Jeff Arnold describe “risk transfer?”
- A really good definition of insureTech?
- What is a “technology stack?”
- How does Jeff help others that are interested in buying agencies?
- What advice does he have about mergers and acquisitions?
- His views on Insurance conferences and why he shies away from them, but still attends Insuretech conferences?
- What’s in the pipeline for Jeff?
- His advice for anyone entering into the insurance industry?
Key Takeaways:
- When it comes to careers, we pick our own challenges.
- Approach the insurance industry from multiple perspectives and learn the “pain points.”
- Success in any industry requires passion.
Connect with Jeff Arnold:
- Jeff Arnold
- RightSure Insurance Group
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of SpotOn Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Jason Keck graduated from Harvard with a degree in Computer Science. He is the CEO and Co-Founder of Broker Buddha, an award-winning technology platform that simplifies the application and renewable process in commercial insurance allowing brokers to reduce the amount of time they spend on applications and renewals by 80%.
Jason Joins us on the podcast to discuss how it all came together, his journey and the outlook for Broker Buddha. He also shares how simplicity is at the heart of how Broker Buddha does business and how the name works so well with their message.
“A big focus on the brand is around how we made commercial insurance simple.” – Jason Keck
Today on Spot On Insurance:
- What is Jason Keck’s story?
- What were Jason’s biggest challenges?
- How does Shazam and Tumblr compare to the insurance industry?
- What has contributed to the growth of Broker Buddha?
- What are some of the changes that are happening with industry applications?
- How did the name “Broker Buddha” come about?
- What are some new company updates that we can look forward to?
- What advice does Jason Keck have for new insurance agents?
Key Takeaways:
- Learn lessons from your failures.
- The insurance industry is built on relationships.
- Good company names speak to the audience, what the product does, and are memorable.
- Find a problem that is big enough to solve that you can build an entire business around.
Connect with Jason:
- Jason Keck
- Broker Buddha
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Tony Cañas is a CPCU, MBA, Insurance Nerds Co-Founder, chief motivator, blogger, insurance expert, speaker, and communicator of the millennial generation, who will soon make up over 50% of the workforce. He is from Costa Rica and moved to the U.S. in 2002—and has been in the insurance industry since 2009.
Carly Burnham is a CPCU, MBA, Insurance Nerds Co-Founder, chief editor, and currently a New Product Development Manager at Explore information Services, and is involved in the Presque Isle CPCU Society Chapter, CPCU Society New Designee Community, CPCU Society Underwriting Interest Group, CPCU Society Leadership and Managerial Excellence Interest Group, and the Commercial Underwriting Training Program at Erie Insurance.
Nick Lamparelli is a CUO of rethought Insurance and a partner at Insurance Nerds, he is a 20-year veteran of the insurance industry. He moved from home and auto insurance to being a commercialized broker.
The three members of the Insurance Nerds join us to discuss how they formed the Nerds and the role they play in mentoring and preparing new talent for the industry.
“Young people don’t get exposed to insurance like they do to any other type of industry or technology.” – Nick Lamparelli.
“A lot of us in the insurance industry are searching for fulfillment in our work.” – Carly Burnham.
“Today it is essential that you build a network both inside and outside your company” – Tony Cañas.
Today on Spot On Insurance:
- How did Tony get started in insurance?
- What were the challenges that Tony faced initially??
- What drew Carly to the insurance industry?
- How did Tony and Carly get to know each other?
- What brought Nick into insurance?
- How is the industry changing to accommodate younger people?
- How do management styles and empowerment affect working in insurance?
- Why are people looking towards side hustles and gigs as opposed to a long-term career?
- How does fulfillment and purpose play a role in careers and our working lives?
- How did the Insurance Nerds take form?
- Which insurance industry conferences and organizations offer the most value to new industry members?
- What is Insurance Nerds Day all about?
- What is some advice for young professionals that are looking to get established?
Key Takeaways:
- Success in the insurance industry comes down to education, experience and networking
- You need to make sure that people know who you are both within your company your industry and outside of your industry. If you want to be successful become known
- Don’t be afraid to ask for the wisdom of others
Connect with Tony:
- linkedin.com/in/tonycanas
- TonyCanas4
Connect with Carly:
- linkedin.com/in/carlyburnham
- CarlyABurnham
Connect with Nick:
- linkedin.com/in/nicklamparelli
- Nick_Lamparelli
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Bryan Falchuk is the Executive Vice President and Head of Claims at Hiscox USA, He is also the host of the Do A Day podcast, a best-selling author, motivational speaker, and life coach. Bryan has overcome obesity, career struggles, and grueling marathons. His work has appeared in Inc. Magazine, L.A. Times, Chicago Tribune, and he has been featured on over 100 podcasts and radio shows.
“Don’t focus on sales, focus on providing answers to people’s needs. You need to be solving someone else’s problem.” – Bryan Falchuk
Today on Spot On Insurance:
- How did Bryan Falchuk get involved in the insurance industry?
- What was Bryan’s experience working at McKinsey like?
- In what ways did Bryan handle and overcome his difficult adversities?
- What are the challenges that insurance professionals are juggling?
- What is the story behind the “Don’t Have What You Want, Here is Why You Have to Ask For It” section of Bryan Falchuk’s book “Do A Day.”
- How can you be a better insurance agent if you are a traditionally trained sales person?
- How can you apply the concept of “Do A Day” so that it is being used for setting your goals?
- In what way has fitness and health worked and benefitted Bryan’s career?
- What ways do “recovery days” assist Bryan Falchuk’s life?
- What does the future of the insurance industry look like?
- What piece of advice would Bryan Falchuk give a beginner in the insurance industry?
Key Takeaways:
- Focus on “the now” with courage, instead of working about what might happen.
- Create the vision you have for your life and head towards it.
Connect with Bryan Falchuk:
- Bryan Falchuk
- Do A Day podcast
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Ruben A. Gely is the Founder of the International Insurer’s Consulting Group Inc. (IICG), a boutique insurance firm based in San Juan, Puerto Rico. IICG specializes in the creation and development of insurance companies, segregated protected cells, private placement life policies, and life & health reinsurers in Puerto Rico's International Insurance Center.
Raymond Burgos is a Legal Counsel, Notary Public and Business Management Consultant at RPB Consulting LLC. Raymond’s roles include business lawyer, manager, and counselor in Puerto Rico, the United States, and Latin America. He handles public and private governance issues, professional liability, litigation, and commercial arbitration.
“Puerto Rico is changing drastically from a manufacturing economy to a service economy.” – Ruben Gely
“From the financial standpoint, hurricanes that create devastation for the local residents are opportunities for other industries.” – Raymond Burgos
Today on Spot On Insurance:
- How did Raymond get started in law?
- Which opportunities and experiences has Raymond had during his career?
- Ruben’s insurance industry career journey?
- Raymond and Ruben’s experiences with Hurricane Maria?
- How did Arleen and Ted’s experiences with Hurricane Maria unfold?
- In what ways did Hurricane Maria affect the insurance industry in Puerto Rico?
- What steps do people need to take to protect themselves from future hurricanes?
- What are the issues emerging from the changes in Puerto Rico’s economy?
- What are captive insurance structures?
- How will the insurance industry evolve now after Hurricane Maria?
- What advice does Raymond and Ruben have for Puerto Rican insurance agents?
Key Takeaways:
- When Hurricane Maria hit, people had to go back to basics to survive without electricity and other basic necessities.
- The challenges of the insurance industry in Puerto Rico pre-Hurricane Maria included: working physicians reduced by 36% from a decade prior, causing people to wait a year to see one. After Maria many of the physicians still practicing decided to leave along with many of the young people leaving behind an aging population in need of medical attention
- Open your eyes and ears for opportunities that arise during crisis.
- There are incredible opportunities for entrepreneurs in Puerto Rico with the Act 20 tax incentive.
Connect with Ruben A. Gely-Ortiz:
- Ruben A. Gely-Ortiz
- Puerto Rico International Insurers Association
- International Insurer’s Consulting Group
Connect with Raymond Burgos:
- Raymond Burgos
- Phone: (787) 484-0021
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Deidre Wright is Director of Engagement & Marketing of the Diversity & Inclusion Institute for Business Insurance. She holds a Bachelors degree in Sociology and Anthropology from Spelman College, Has served on the RIMS Advisory Board - Rising Risk Professionals, and has served as Vice Chair of the Emerging Leaders Council of the National African American Insurance Association. She also held the position of Global Risk Management Insurance Specialist - Casualty Advisor for Marsh.
Deidre joins us on the podcast to discuss multicultural diversity in the United States and the important role that Diversity and Inclusion play in the future of the insurance industry.
“You can’t do the same o’ same o’, If you do that you are not going to sustain market share and you are not gonna grow … you have to be diverse in order to drive innovation get more ideas as well as think about the future and what your company wants to stand for.” – Deidre Wright
Today on Spot On Insurance:
- How her study of Anthropology, sociology and analysis training has helped in her insurance career
- Her transition from public health to marketing to insurance
- She discusses the Business Insurance August 2018, published survey on Diversity and Inclusion
- The CEO’s Role: 52% of respondents believe CEOs are responsible for D&I success
- Top three challenges to D&I: Finding Diverse talents with skill set, more consistent and visible leadership on the issue, and lack of understanding of the business case for D&I.
- Where to get diversity training. Deidre shares a list of groups that are available to help companies move forward with Diversity and Inclusion.
- What are the significant benefits to having a diverse culture
- How diversity can help you with problem solving
- Unconscious bias and understanding the role each individual plays
- The importance of mentoring others, and not just those that look like you or are the same gender.
- The importance of finding an individual or group of mentors
- Discussion of Business Insurance launching a podcast this year highlighting Diversity and Inclusion
Key Takeaways:
- One of the keys to successful Diversity and Inclusion in the workplace is that CEOs need to make D&I part of the compensation and performance evaluation
- Be authentic about yourself and lead with who you are.
- Learn your personal brand and amplify it.
- Joining diverse organizations like NAAIA will give you more opportunities that people aren’t aware of.
Connect with Deidre Wright:
- Deidre Wright: LinkedIn
- Twitter: Deidre Wright, ARME @DeidreWrite
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Pamela Quilici, Donna Percival, and Shanna Sweeney are the co-founders of Women of Wholesale, an association focused on women in the wholesale insurance industry. Pam is the COO at Crouse and Associates, an independent wholesale broker, and Chairman of Next Generation Committee, a group created by the Surplus Lines Association of California to specifically recruit younger people. Donna is a Sr. Business Development Manager of an excess and surplus specialty group. Shanna is the President of Women of Wholesale and a Specialty Excess Senior Underwriter for the Navigators Group, Inc., a global specialty insurance holding company.
Pam, Donna, And Shanna join us today to share what Women of Wholesale is about and its core message. They describe how they got started in the insurance industry and what inspired them to start the company. They explain the necessity for young professionals in the industry as well as some of their future projects. They also provide sound advice to those who are fresh out of college and are considering a career in the insurance industry.
“Come in early, stay late. Don't be that person who just puts in enough. You get so much more back out of this industry when putting yourself into it.” - Pamela Quilici
Today on Spot On Insurance:
- What brought Pam, Shanna, and Danna into the insurance industry?
- How they strived to be successful in their insurance careers.
- The gap in the industry they want to fill through female empowerment.
- What makes their industry different from the rest.
- Their hiring process and why they target millennials.
- How they intertwined philanthropy with their career.
- What's in store for their company in the future?
- Their advice to young professionals entering the insurance industry.
Key Takeaways:
- Mentors act as a shortcut to get you to a higher level.
- It's not about what is gifted to you, but what you do with that gift.
- Take the work seriously. Put in the hours. Do the work. Invest in yourselves and diversify your skills.
Connect with Shanna Sweeney:
- Women of Wholesale
- Company LinkedIn
- Company Email: info@go-wow.org
- Shanna Sweeney LinkedIn
- Navigators Insurance
Connect with Donna Percival:
- Danna Percival LinkedIn
- Westchester
Connect with Pam Quilici:
- Pamela Quilici LinkedIn
- Surplus Line Association of California
- Next Generation Committee
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Opeyemi Osiyemi is the Founder of Claimsify and the Managing Director of EdgeEdwards. Claimsify is an insurance service that seeks to simplify the process of claims insurance in Africa. EdgeEdwards aims to help insurance companies achieve sustainable efficiency and effectiveness. Ope’ is certified in the London Insurance Market, she holds a B.S. in Insurance from the University of Lagos, and an MBA in Oil and Gas Management from the University of Dundee. She is also the Secretary-General of the Association of Registered Insurance Agents of Nigeria (ARIAN).
Ope’ joins us today to share her passion towards the restoration of global relevance and competitiveness of insurance in Africa. She shares her experience before joining the insurance industry and where her dedication comes from. She describes the current status of the insurance industry in Africa, the kind of systems they’ve applied, and the technologies they soon plan to adapt. She also explains how the African culture can sometimes hinder not just the growth of the industry, but also its clients.
“The turnaround time to pay claims should be drastically reduced, so people can get on with their lives.” - Opeyemi Osiyemi
Today on Spot On Insurance:
How she got started in the business of insurance.
- Why insurance is highly regulated in Africa.
- The education, certification, and licensing process to become an agent in Africa.
- Her ability to do business in countries outside of Africa and the processes involved.
- The challenges the insurance industry faces in Africa.
- How she aims to change the country's culture of family dependency.
- Some of the major insurance companies in Nigeria.
- Are new technologies making it difficult for companies to focus on what to do next?
- Is the insurance industry in Africa utilizing drones?
- Her personal story involving the stress of the claims process in Africa.
- Her current projects and future developments.
Key Takeaways:
- We need to make innovation happen in a sustainable way.
- Technology has no regard for how your industry is, whether it's conservative or not. It will come to do what it will come to do.
Connect with Opeyemi Osiyemi:
- Claimsify
- EdgeEdwards
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Joshua B. Lee is a strategic growth coach, founder and CEO of Stand Out Authority, and the author of Balance is Bullsht*. His company helps B2B businesses and professionals expand their reach and scale their businesses by aligning their marketing and sales techniques, improve their online authority, and navigate the digital sales ecosystem. He has managed over $100-Million in ad spending and has controlled over 30-Trillion online impressions.
Joshua joins us to share how we can use social media to enhance and advance our careers. He describes his life experience and inspiration for founding Stand Out Authority and explains why LinkedIn is the best online platform to use when it comes to social selling. He also explains how to build an excellent LinkedIn profile and discusses why LinkedIn wasn’t designed to make people stay, unlike other social media platforms.
“Every company is run by another human being and we've forgotten to treat others as human beings instead of another asset or sale.” - Joshua B. Lee
Today on Spot On Insurance:
- How he earned six figures as a college student.
- His experience working with Myspace.
- What made him want to write a book?
- His business mindset and how he relates it to helping other people.
- What led him to the world of LinkedIn marketing?
- His tips on how to leverage social media for marketing.
- Why “social selling” doesn't involve any selling at all.
- What makes LinkedIn a better platform for social selling.
- The various ways to get traffic.
- How new users make LinkedIn work for their careers.
- The value of creating, sharing, commenting, and liking posts every day on LinkedIn.
- What does having connections on LinkedIn do for your profile?
- The ideal time you should spend on LinkedIn.
Key Takeaways:
- The money will come, just don't make it your one and only priority.
- 49% of all business decision makers are actively using LinkedIn.
- People are sick of online ads and sales funnels. They want a personal connection again and phone calls are a good example.
- Business should be focused on service and service should be focused on helping others.
Connect with Joshua B. Lee:
- Stand Out Authority
- Balance is Bullsht* book
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Howard W. Greene is the Director of Strategic Initiatives at Excess Line Association of New York (ELANY), a non-profit industry advisory association. Theodore P. Augustinos is a Managing Partner at Locke Lord LLP, a full-service law firm that is recognized for its solid reputation in complex litigation, regulatory, and transactional work. David Burgeson is the Chief Operating Officer at Renaissance Systems Inc., a nationwide provider of compliance-based IT services, programming, big data analytics, and security solutions.
Howard, Theodore, and David join us to discuss the topic of cybersecurity in the insurance industry. They share their wisdom regarding compliance, regulations, and how a company should respond to a cybersecurity threat and describe how their companies guarantee data security of third-party apps. They also explain how they dispose of data properly and share tips on how to strengthen a company’s cybersecurity in accordance with the new regulations.
“Most of the data breaches aren't from the third world, but internally.” - David Burgeson
Today on Spot On Insurance:
- Where the insurance industry currently stands on cybersecurity regulations?
- Who are the covered entities under the regulations?
- What is Section 500.06 all about and what it requires.
- How brokers detect and respond to cybersecurity events.
- How long companies should retain records.
- How companies can test the security of third-party apps.
- How often companies should review their testing procedures.
- What counts as secured disposal of data?
- The type of data you can't dispose of easily.
- The kind of policies and procedures brokers can reasonably implement.
- Why encryption is a non-option for data security.
- How insurance departments protect data submitted to them.
- Their advice to those wanting to enter the insurance industry.
Key Takeaways:
- Make security and compliance a part of the culture and operations of your organization.
- You need to have some level of control that would reveal whether employees or other unauthorized users may be improperly accessing, using, or tampering with data.
- As you’re deploying new technologies, it's important to design data mapping and disposal for your facilities.
- You need to have procedures for evaluating, assessing, or testing the security of apps.
Connect with Howard Greene:
- ELANY
- Email: hgreene@elany.org
- Phone: 646-292-5591
Connect with Theodore Augustinos:
- Locke Lord
- Email: ted.augustinos@lockelord.com
- Phone: 860-541-7710
Connect with David Burgeson:
- Renaissance Systems
- Phone: 512-334-3345
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Nick Gerhart is a former Iowa insurance commissioner, and the Chief Administrative Officer of Farm Bureau Financial Services, an insurance company that has been in the industry for over 75 years and boasts over 4,300 agents, field representatives, and employees in eight Western and Midwestern states. As Chief Administrative Officer, he is responsible for government relations, human resources, enterprise strategy, and health services. Outside of his corporate responsibilities, Nick also wears the shoes of a mentor and advisor to many InsurTech startup ventures.
Nick joins us today to share his wisdom on how the insurance industry should evolve to continue to remain relevant in today’s tech-fused society. He describes how the industry has changed since he got started and how he and his company have managed to adapt during these rapid-changing times. Nick also explains how the industry is in dire need of new blood and why this is the best time for someone young to enter the field of insurance.
“As long as people do dumb stuff, there's going to be a need for insurance.” - Nick Gerhart
Today on Spot On Insurance:
- What inspired him to begin his career in the insurance industry.
- Why Iowa is known for its insurance businesses.
- How have the demographics of Iowa changed in the past decade?
- The programs they started using to engage the younger generation.
- Changes the industry needs to facilitate to attract younger workers.
- How will Big Data change the insurance industry?
- The challenges in the InsurTech space.
- The top challenges of the incumbent insurance companies.
- How different are the regulatory challenges now compared to when he started his insurance career?
- His advice to people who want to work in the insurance industry.
Key Takeaways:
- There isn't really a wrong strategy; you just have to come up with something that makes sense.
- If you want to work in this industry, you don't have to be a compliance expert, but you must understand that this business is highly regulated.
- About 40% of most insurance companies are sitting on a tidal wave of retirement in the next decade.
- The insurance industry needs young people as much as young people need jobs
Connect with Nick Gerhart:
- Farm Bureau Financial Services
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Mike Gulla is the Director of Underwriting at Hippo Insurance, an insurance company that seeks to provide simple and easy to understand home insurance that is up to date with modern homeowner lifestyles. Mike’s responsibilities include developing full stack policy administration systems, support research and development efforts for system integrations, and providing subject matter expertise for regulatory filings, policy ratings, and compliance reviews. He holds a degree in Political Science focused in American Government and Politics from Troy University.
Mike joins us today to discuss how insurance companies should innovate without alienating their consumers. He shares his story on how he got started in the insurance industry and what makes Hippo different. He also explains the need to modernize home insurance policies, why he thinks the Internet of Things is the future of insurance, and how the industry will look ten years from now.
“Internet of Things is the one thing that's going to revolutionize insurance.” - Mike Gulla
Today on Spot On Insurance:
- What set Mike on the path to a career in the insurance industry.
- The risks companies need to take to succeed in this market.
- The innovations that companies need to focus on to provide what the customers want.
- Why their company is not promoting disruption.
- What underwriters currently do and how their responsibilities have evolved over the years.
- Why underwriting is so innovative today.
- What consumers need to consider when looking at insurance.
- How do we streamline the compliance process?
- What he thinks will happen with insurance in the next ten years.
- Why he believes the Internet of Things is the future of insurance.
Key Takeaways:
- If you've mastered a process, it means it's time to think of a way to make it better.
- Underwriting touches every facet of insurance. Everything at some point will reach the underwriting process.
- At the end of the day, innovations should all be about the customer and not the company.
Resources mentioned:
- August Smart Lock
Connect with Mike Gulla:
- Hippo
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Todd Martin is an attorney at Stinson Leonard Street with over 20 years of experience in various functions in the healthcare industry including insurance regulation, administrative law, employee benefits, transactions, and governance. His work and in-depth experience regarding the healthcare regulatory environment has been instrumental in advising clients on the Affordable Care Act as well as the substantial work he has done with multiple health plan structures.
Todd joins us today to explain the new rules and regulations regarding Association Health Plans. He explains the key differences between the old and new rules and how it may affect both old and new companies. He also discusses the requirements necessary for new associations to operate, and the pros and cons of starting a new association health plan. finally, he also describes how one state varies from the other when it comes to Association Health Plans and some of the primary concerns of those opposing the new regulations.
“Some states are very receptive to association health plans, and some are very restrictive.” - Todd Martin
Today on Spot On Insurance:
- The intended purposes of the new legislative regulations
- How the regulations limited Association Health Plans before the ACA rules.
- How the new regulations changed the current rules regarding associations.
- Requirements on how the association operates.
- How to form an association.
- The pros and cons of starting a new association.
- Do state laws still apply to association health plans?
- How states regulate association health plans.
- Concern from groups opposed to association health plan expansion.
- When the new rules will be in full effect.
Key Takeaways:
- The association can't be controlled by the insurance issuer; it has to be controlled by the employer members of the association.
Connect with Todd Martin:
- Stinson Leonard Street
- Email: todd.martin@stinson.com
Phone: (612)335-1409
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Rebecca Wheeling is the Co-Founder and CEO of Schedule It, an app that automates inspection scheduling for field services. Schedule It is currently the only automated scheduling, routing, and mapping software for inspectors and adjusters. She is a recognized speaker, the secretary and treasurer for the National Association of Catastrophe Adjusters and is a recognized emerging entrepreneur by the Kentucky Entrepreneur Hall of Fame.
Rebecca joins us today to discuss the stories, experiences, and ideas that led her to co-founding Schedule It. She shares the problems agents have encountered during the country’s recent natural calamities and how their software has helped expedite the claims process. She also explains the importance of using technology in claim verification and describes the different ways adjusters can upgrade their skill set.
“You have the opportunity to help more people if you take the time to learn how to do the other pieces in the industry.” - Rebecca Wheeling
Today on Spot On Insurance:
- How Rebecca got started in the insurance industry.
- What led her from being an adjuster to founding Schedule It?
- How Schedule It makes it easier to get claims.
- Her experience regarding claims and why it inspired her to start her company.
- The tedious parts of her job in scheduling claims and how they built a workaround.
- Technology with the potential to innovate the industry.
- The benefits of social media for adjusters in the industry.
- Her take on self-driving cars and how it'll affect policy orders.
Key Takeaways:
- The adjuster is the lifeline to their carrier.
- It's difficult from an agent's perspective to not know what's happening to the claim.
- Adjusters need to diversify their knowledge with regards to how claims are made.
Resources Mentioned:
- Adjuster Training
- Adjusting to 6 Figures
- NACA
Connect with Rebecca Wheeling:
- Schedule It
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Ryan Hanley is the Chief Marketing Officer at Trusted Choice, Editor in Chief at Agency Nation and is considered as the Master of Content Marketing in the insurance industry. His goal is to help businesses find their audience and win the battle for online attention by producing content that converts. As a keynote speaker, he delivers more than 20 presentations a year to help individuals as well as brands tell their story, grow their online business, and build a solid audience.
Ryan joins us to share his wisdom regarding content creation and marketing. He explains the importance of producing enough content and knowing what content attracts your targeted audience. He also describes the kind of insurance agency that can thrive in today’s market and how tracking analytics factors into the equation.
“People will forgive a thousand technical mistakes in your content if they think you're doing it because you care about them.” - Ryan Hanley
Today on Spot On Insurance:
- Can insurance consumers today build more trust with an individual than with a robot?
- The current insurance trends in consumer relationships.
- Using digital technology to grow an agency.
- How agents can embrace content marketing.
- His tips in maximizing your business website.
- How often should you produce content?
- Where he sees the industry in five years.
- Tips for those entering the industry.
Resources Mentioned:
- Mail Chimp
Key Takeaways:
- Consumers get to dictate if your content is valuable or not.
- Some businesses lack tracking not because of tools or that it's difficult, but because people don't want to track.
Connect with Ryan Hanley:
- Ryan Hanley official website
- Trusted Choice
- Agency Nation
- Email: Ryan@agencynation.com
- Content Warfare book
This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Nick Gregory is a member of the Akin Gump litigation practice. Akin Gump is an international law firm housing over 900 attorneys. Nick’s focus is on complex commercial litigation which covers areas of consumer class action defense, insurance litigation, and government investigations among others. He also provides sound advice to startups regarding regulatory issues with a focus on insurtech companies.
Nick joins us today to discuss the regulations that govern insurtech companies. He explains the regulatory issues that companies wishing to venture into the insurance industry encounters, and some of the common reasons why a few insurtech companies fail. He also shares his advice on how startups can attract investors.
“The industry knows it has so much opportunity to improve. It's just ripe for improvement.” - Nick Gregory
Today on Spot On Insurance:
- Nick's professional experience as a litigator.
- The regulatory challenges he has experienced.
- What's the anti-rebate issue?
- The two cultures of the insurtech industry.
- The regulatory hurdles non-insurance companies have to go through
- Arguments for and against simplification.
- How the government can use blockchain for licensing.
- Why do some insurtech companies fail?
- What insurtechs should do to attract investors?
- His advice to those just entering the industry.
Resources Mentioned:
- NIAC
Key Takeaways:
- There is a dual culture in the insurtech industry: The tech side and the highly regulated side.
- When the insured is denied coverage, if they think what they're being denied wasn't provided for in the contract then they're okay with that.
Connect with Nick Gregory:
- Akin Gump
- Email: NGregory@akingump.com
This episode was brought to you by…
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Stephen Goldstein is a global insurance executive with over 10 years of experience in distribution, operations, auditing, market entry, and corporate strategy. He is the Managing Director at Pivot Ventures US, a company that advises InsurTech startups on their sales strategies and go-to-market initiatives to build meaningful and successful pilots and ventures. He is also a weekly InsurTech author for the Daily FinTech, a blog offering FinTech analysis and trends to over 20,000 subscribers across 130 countries.
Stephen joins us today to share an overview of what it means to work with an InsurTech startup. He explains why the insurance industry needs a tech facelift, the importance of adapting to current trends, and why the customer’s needs should dictate the kind of technology and system a company uses. He also shares some examples of companies that have done a great job at innovating their businesses and how they did it.
“Any experience, especially the ones that don't work out, are going be the ones we learn the most from.” - Stephen Goldstein
Today on Spot On Insurance:
- How his career financial services began.
- How the crash affected the company and how they recovered.
- The three things that society is struggling to adapt to.
- How should an insurance company approach a startup?
- The mindset insurance companies need to have.
- What needs to change in the insurance industry to maximize the use of InsurTech?
- What can help the approval and pilot process?
- His role in bringing technology startups to foreign countries.
- Examples of companies that have embraced innovation for better customer service.
- Advice to those just entering the industry.
Key Takeaways:
- Innovate from the customer backwards.
- Insurance companies should use technology in a way that makes people think they're not buying insurance, but coverage on the day-to-day aspects of their life.
- Insurance is going to be not just about providing a product, but also an ongoing service; an ongoing value-add to customers.
Connect with Stephen Goldstein:
- Email: stephen@pivotventures.us
This episode was brought to you by…
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Louis Cohn is the President of the Cohn Search Group, an executive job search provider and recruiting company based in Overland Park, Kansas. The company exclusively dedicates itself to the property and casualty insurance industry and has a robust clientele from the private and public sectors. Louis is considered one of the top ten nationally recognized property and casualty recruiters due to his business management expertise as well as his skills as a recruiter.
Louis joins us today to discuss what it’s like to run a recruiting company catered towards the insurance industry. He explains what employers put the most weight on when it comes to applicants, the questions interviewers usually ask, and the kind of information an aspiring recruit needs to understand during the interview. He also shares what's trending in the industry as well as positions in dire need of filling.
“It is becoming more and more difficult for insurance companies to not only identify talent, but to attract them.” - Louis Cohn
Today on Spot On Insurance:
- How he got into the recruiting business.
- The biggest challenge with filling job openings within the property and casualty insurance industry.
- What's trending right now in the insurance job market?
- The weight employers place on education, experience, and good personality.
- Why college degrees are now mandatory.
- The kind of information his company needs to help their clients.
- How they groom clients in handling interviews.
- Good openings in the insurance industry.
- His advice to older applicants.
Key Takeaways:
- Insurance is an ever changing field, especially today with technology and automation.
- All these underwriters know how to underwrite, but that's only half the battle. It's finding someone that fits within your company culture in a way that will drive business and growth for the organization that matters in hiring.
- Underwriters drive business within the organization. They need to be personable, but also analytical and the combination of those two are very hard to find.
Connect with Louis Cohn:
- COHN Search Group
- Phone: 913 - 402 - 1400
This episode was brought to you by…
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Abel Travis serves as the Head of Commercial Lines Product Management for the AF Group. He is known to innovate traditional businesses through integrating InsurTech which helped him become recognized as a 40 Under Forty Business Leader in 2017. In addition to being a champion of change, Abel also hosts his own podcast called the Insurance Innovators Unscripted which reflects his philosophy on education and industry innovation.
Abel joins us to discuss why he believes businesses should embrace change and why InsurTech is at the center of this transformation. He shares his life before he began working in the insurance industry, the companies he worked for, and how he helped improve their systems. He also explains why people are critical when it comes to innovation and how the industry can benefit from blockchain technology.
“When you're talking about innovation, you have to be willing to fail. You also have to be willing to test, to pilot, and to learn from the failure.” - Abel Travis
Today on Spot On Insurance:
- How Abel started in the insurance industry.
- The processes involved in innovating a company's business methodologies.
- What traditional firms used to think of the word "InsurTech."
- What InsurTech can do for brokers and agents.
- What their startup bootcamp is all about.
- His thoughts on how blockchain can help the insurance industry.
- Regulatory hurdles he's faced in product development.
- Challenges in bringing a new product to market.
- States that are difficult and easy to work with.
- How he became a podcast host.
Key Takeaways:
- Change starts first not with the technology; it starts with the people.
- People who are resistant to change will cause failure within the process of moving and innovating.
- Challenging the status quo is what will help drive the change the industry has been seeking.
- There are regulatory bodies that don't understand the transformation that is happening in the industry.
Connect with Abel Travis:
- Insurance Innovators
- Podcast
This episode was brought to you by…
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Michael Jans is the Founder and Executive Chair of Agency Revolution, a company that delivers training and technology to independent agencies and brokerages in the insurance industry. The overall goal of their company is to help agencies bridge the gap between agents and their customers. As an entrepreneur and business coach, Michael has created and delivered insurance marketing strategies for over 25 years. His work has been featured in various trade magazines in North America. He has also authored and co-authored over 50 books and courses for insurance agents over the span of his career.
Michael joins us to share his wisdom on what it takes for any agency - big or small - to survive in this industry. He shares his insight as to what makes the best agencies better than the rest and what traditional agencies should do to keep up with the times. He also explains the importance of adapting and updating to the latest technologies without compromising customer relationships.
“Agencies should embrace the tools and technologies that allow them to multiple that which they are best at.” - Michael Jans
Today on Spot On Insurance:
- His career before working in the insurance industry.
- How he decided the insurance industry was his home.
- The number of agencies in the US today.
- Why you should try to eliminate most of the paperwork in your agency.
- The kind of agents he likes to work with.
- What agencies should do to adapt to today's current market.
- What is the single biggest decision an agent has to make?
- The kind of technologies agencies should look into.
- The importance of SEO when it comes to establishing a web presence.
Key Takeaways:
- There are far too many agents who are spending their time as technicians and not as entrepreneurs.
- The implicit promise of having an agent versus an 800 number is the relationship formed and the personal approach.
- We need to be aware - vigilant - about the way the industry's changed and what that means to the independent agency today.
- One thing you're always going to hear is that this industry is not going to survive, but it has survived and remains resilient.
Connect with Michael Jans:
- Michael Jans Official Website
- Agency Revolution
- The Connected Insurance Podcast
- Email: michael@agencyrevolution.com
This episode was brought to you by…
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
EP.62: From Stylekick to Shopify to Cover: Embracing Insurance Technology
Karn Saroya is the co-founder and CEO of COVER, a nationally licensed insurance brokerage and tech company that cooperates with over thirty insurance companies across the United States. They specialize in apps that allow their clients to get the most out of their insurance while also maintaining the best possible client experience. Before co-founding COVER, Karn co-founded Stylekick, a mobile e-commerce marketplace that let bloggers, designers, and other fashion influencers upload their lookbooks and make them shoppable.
Karn joins us today to discuss how COVER works, what makes them different from traditional brokers, and how they conduct business. He shares what made him enter the insurance industry as well as how he founded the company. He also explains the importance of always putting the customer’s needs first when it comes to claims and technological upgrades.
“Humans are still important. Technology just automates away all the tedious parts.” - Karn Saroya
Today on Spot On Insurance:
- His career before he founded COVER.
- How Stylekick worked and how it connected with its users.
- His bootstrapping days back in Toronto.
- His new venture and how he brought new money into his endeavor.
- How they help expedite the claim process.
- How smartphones allowed their clients to participate in their projects.
- What insurance companies should remember when it comes to ethics.
- Regulatory hurdles he has faced and how he overcame them.
- What will happen to the traditional broker if they don't update themselves?
- His advice to those who want to join the industry.
Key Takeaways:
- The customer should be at the center of every technological upgrade in a company.
- Embrace technology to start the conversation with your client.
- It's very rare you end up where you start, especially in technology.
Connect with Karn Saroya
- COVER
This episode was brought to you by…
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Dr. Robin Kiera is the founder of Digital Scouting and an expert in insurance technology and digital transformation. He helps companies transition from being traditional and old-fashioned to become much more streamlined in today’s continuously evolving insurance industry. He uses his experience to incorporate the latest in digital technology to not only improve a company’s work efficiency but also to allow them to adapt for the future.
Dr. Robin joins us today to share his knowledge of how technology can help improve an old company and how it can fast-track a startup’s success. He explains the importance of evolving and adapting, especially in today’s rapidly changing landscape. He also describes the future of the insurance industry with blockchain technology as well as shares professional advice on how startups can become successful faster.
“If a CEO doesn't know the answer, it's not the problem. The problem is when he or she doesn't look for it and ignores it.” - Dr. Robin Kiera
Today on Spot On Insurance:
- How can the traditional insurance broker tackle the changes in today's tech-driven society?
- How to include tech and software in a traditional company.
- How to prevent “brain drain.”
- What it means to preserve a working business model.
- What we can learn from Chinese businesses.
- The best ways for a startup to promote themselves.
- The must-attend conferences for startup businesses.
- What makes their company unique?
- His thoughts on blockchain technology.
- His advice to those starting out in this industry.
Key Takeaways:
- If you don't have that technological knowledge, you have to surround yourself with people who do.
- Just because CEOs didn't grow up with technology doesn't mean they shouldn't incorporate it in their company.
Connect with Dr. Robin Kiera:
- Digital Scouting
- YouTube
This episode was brought to you by…
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Ep.60: Licensing Risk Purchasing Groups
Traci Houston is a Licensing Specialist with Insurance Licensing Services of America (ILSA). She has extensive experience in licensing and renewals for agents, adjusters, brokers, surplus lines brokers, Risk Purchasing Groups (RPGs), MGAs, TPAs, and many more. While working full-time in the insurance industry, she worked her way through college to obtain her Bachelor of Arts degree in Psychology. Throughout the 12 years she has worked with ILSA, she has earned numerous awards for her excellent customer service, including the Employee of the Year.
Traci joins us today to share her career journey and first impression of the insurance industry, how she became a remote working professional within the industry, and the challenges she faced while building her career. She explains the difference between RPG and Risk Retention Groups, why obtaining your RPG license can often be a complex process, and the information most states require to receive approval. She also shares tips for new RPG groups applying for their license and explains how an RPG group can become registered and licensed in all states.
“If you are looking to be registered in all states, you need to give yourself some time because it is very time-consuming.” - Traci Houston
Today on Spot On Insurance:
- What is a Risk Purchasing Group?
- How Risk Purchasing Groups differ from Risk Retention Groups.
- The complexity of Risk Purchasing Group licensing.
- What is required to obtain an RPG license?
- What information is needed from RPG officers?
- The most challenging state for an RPG approval.
- Average state filing fees for RPG licensing.
- Is it possible to license your RPG in all states?
- Requirements for renewing your RPG license.
- What to consider when applying for your RPG license.
- The submittal process for RPG licenses.
Key Takeaways:
- Always ask questions.
- Always utilize the state employees.
- Understand the statutes for each state you are applying to be licensed in before you move forward with your application.
Connect with Traci Houston:
- Insurance Licensing Services of America (ILSA)
- Phone: (254) 729-6141
- Email: T.Houston@ILSAinc.com
This episode was brought to you by…
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Dan Maher is the Executive Director at Excess Line Association of New York (ELANY). ELANY is a nonprofit industry advisory association that acts as a facilitator between regulators and brokers, conducts financial oversight and reviews of non-admitted markets, and lobbies Regulators & Legislators among other functions. Dan is also an attorney who is licensed to practice in New Jersey and New York as well as a number of federal courts.
In this episode, Dan shares his brilliant insights with regards to the state of the surplus lines market in 2017 and 2018. He explains why the surplus lines industry grew a lot in 2017 as well as describes the factors that are attributed to its growth. He also shares his best advice for those coming in the insurance industry for the first time.
“One of the greatest things about our business is the relationships you build in the industry.” – Dan Maher
Today on Spot On Insurance:
- Dan Maher's overview of the state of the surplus lines market in New York in 2017.
- The single largest factor that contributed to the growth of surplus lines.
- How he got started in the insurance industry.
- The legislations he influenced in the surplus lines industry.
- Bills and amendments they're working on right now.
- The importance of having a large export list.
- How they involve different technologies in their line of work.
- What he expects in the near future for surplus lines.
Key Takeaway:
- Retail brokers don't go to the wholesaler because they love splitting their commission.
- You don't have to be Einstein to do well in the insurance industry, but you have to have the right work ethic.
Resources Mentioned:
- Surplus Lines and Reinsurance Forum
Connect with Dan Maher
- ELANY
- Email: dmaher@elany.org
- (646) 292 5555
This episode was brought to you by…
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Anson Ross Thompson and his partner Jenny Dils Durr are the owners of The Thompson Group, an independent insurance agency that works with the industry’s leading carriers such as Westfield Insurance Company, Motorists Mutual Insurance, and Society Insurance. Their company prides itself on being a progressive insurance agency with programs that cater to their clients’ home, auto, health, and business needs. No fans of formal business titles, Anson and Jenny call themselves the Insurance Ninja and Insurance Queen respectively.
In this episode, Anson and Jenny share their life before they got into the business of insurance and how they both grew the company as business partners and as a couple. Anson describes how he managed the company by himself for fifteen years and why he decided to merge it with Jenny’s own company. Jenny explains why they don’t provide quotes for their clients as well as provides solid pieces of advice for those thinking of starting a career in insurance.
“Your culture is by far the most important piece of your business.” – Jenny Dils Durr
Today on SpotOnInsurance:
- Anson's academic background and journey into the insurance industry.
- How he grew his company for the first 15 years.
- Why Anson and Jenny merged their company.
- How Jenny entered the insurance world.
- Challenges they both faced when working with each other.
- The story behind their company titles.
- Why they refuse to quote.
- How sometimes the prospect might not be a good fit.
- Why being old fashioned can be a good way to manage a business.
- What you need to understand as a business owner.
-
The future of their company.
Key Takeaway:
- The first meeting is the most important meeting.
- The way you approach your business will determine whether you will succeed or not.
Resources Mentioned:
* *Atlas Shrugged* book by Ayn Rand
Connect with Anson Ross Thompson
-
The Thompson Group
-
LinkedIn
Connect with Jenny Dils Durr
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Tim Pazda is the Vice President of Business Development at BlackStratus, a company that offers cybersecurity services for other businesses. Jim Klinck is an Information Technology and Professional Services Consultant and a Fortune 500 tech leader who oversees $250 million budgets and is responsible for over 2,700 developers in more than eight technology centers worldwide. Christa Rapoport is currently an Insurance Regulatory Affairs Attorney for Nelson Taplin Goldwater, a group providing representation for the insurance industry.
In this episode, our three guests offer their unique take when it comes to cybersecurity and its effects on the insurance industry and its regulations. They offer their suggestions and ideas on specific cybersecurity problems, share their insight on being proactive, and describe in detail how companies can prepare for an attack as well as respond and recover from it. They also discuss specific states and their corresponding regulations when it comes to cybersecurity laws.
“You can't protect the data if you don't understand where it is and what you're collecting.” – Jim Klinck
**Today on Spot On Insurance:**
- How will cybersecurity impact the people in the insurance industry?
- The number of bills introduced in 2017 for cybersecurity.
- How to defend yourself against new cybersecurity attacks.
- How to conduct impact testing.
- Protecting your data from your own employees.
- How does BlackStratus improve a company's cybersecurity?
- How much has cybersecurity improved in the insurance industry?
- Best business practices for cybersecurity.
- Why two-factor authentications are more secure than traditional security systems.
- Cybersecurity requirements for various organizations in the insurance industry.
-
Unique cybersecurity requirements in various states.
Key Takeaway:
-
Human factors are important. You want an environment that is secure, but you also want it to be easy for employees to do the right thing.
- You have to look at cybersecurity holistically.
-
The security program has to evolve with the climate that you're in.
Connect with Jim Klinck
-
Email: JWKlinck@Si-Innovators.com
-
Twitter
Connect with Tim Pazda
-
Email: TPazda@BlackStratus.com
-
Phone: (415) 994-2614
Connect with Christa Rapoport
* Email: CSRapoport@NTGConsultants.com
- Phone: (973) 508-3967
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Stefanie Cantu has been with Insurance Licensing Services of America (ILSA) for almost ten years and is currently their Licensing and Compliance Supervisor. She is credited as the go-to person when it comes to complex questions regarding compliance. When she’s not working, Stefanie takes on the joys and challenges of being a mother to two sons, hosts events to support those who need financial aid within her community and participates in many Bible Study and women’s support groups.
In this episode, Stefanie shares her experiences while working with ILSA and her various day-to-day activities. She recalls the first day she walked through the office and compares herself at that time to the professional she has evolved into today. She describes the many challenges she faced in the ten years she’s been with the company as well as the various solutions she found for each one. She also explains in-depth the various technicalities regarding getting licensed in all states.
“Some people think once they get a license - that's it. Unfortunately, it's not that easy.” –Stefanie Cantu
**Today on Spot** **On****Insu****rance:**
* Her career in ILSA, how it began and what's it like today.
-
The challenges she's faced in her career.
-
How she describes herself as a mother.
- How much does it cost to get an individual licensed in all states?
- The importance of the Producer Database (PDB).
- The difference between data found in a PDB and what the clients know.
-
The earliest you can expect to start getting a new license.
-
The last license that gets issued and the 10 states that get delayed.
- Her advice to someone planning to enter the insurance industry?
Key Takeaway:
* The biggest challenge is adapting to adversity. It's all about determination and giving yourself that opportunity to learn.
Connect with Stefanie Cantu
* Email: s.cantu@ilsainc.com
- Phone: 254-729-6139
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Joyce King is the Quality Assurance Administrator at Insurance Licensing Services of America, Inc. (ILSA). Her responsibilities at ILSA include overseeing the activities of ILSA’s marketing staff and new business enrollment operations. She has over ten years experience working in various facets of regulatory compliance in the insurance industry including licensing and surplus lines tax filings.
In this episode, Joyce relays her experience before she worked for ILSA. She provides wisdom regarding mergers and acquisitions, the documents the agent needs to prepare, as well as the entities the agent needs to pay attention to when it comes to compliance. She also shares some words of advice for the new people in the industry or those aspiring to be part of it.
“You don't want to give the impression that business is bad so you're cutting away your licenses.” – Joyce King
Today on Spot On Insurance:
- How she got into the insurance industry.
- What companies should start looking at for mergers and acquisition prior to selling business.
- The regulatory files and documents you need to look at
- What the buying entity is interested in.
- How many reports the agent needs to prepare?
- What happens when the agent forgets to prepare the documents?
Key Takeaway:
- Always strive to just learn more. See how the pieces fit together.
- Keep updating the documents not just for the Department of Insurance, but also for other regulatory entities.
Connect with Joyce King
- Email: j.king@ilsainc.com
- Phone: 254 729 6127
This episode was brought to you by…
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Todd Martin is a partner at Stinson Leonard Street, LLP., one of the largest law firms serving clients across the United States in a wide range of practice areas including Corporate Finance, Intellectual Property and Technology, Private Business, Product Liability, and Health Law. He has over 20 years of experience in insurance regulation, administrative law, and employee benefits and has worked with countless corporate legal departments of Fortune 500 companies. Currently, he advises insurers, third-party administrators, brokers, and employers on health plan regulatory concerns such as the Affordable Care Act.
Todd joins us today to share how his career as an attorney in the insurance industry began. He explains what Association Health Plans are and how they help organizations, agencies, and businesses offer affordable healthcare plans to their members. He also explains the regulatory and legal aspects associated with joining or creating a new association, what to consider when starting a new association, and future projections for federal and state regulatory laws regarding Association Health Plans.
“There must be a reason for the association to exist other than buying insurance.” - Todd Martin
Today on Spot On Insurance:
- What is an Association Health Plan?
- How Association Health Plans can help businesses lower the cost of offering health insurance to their organization members.
- Laws and requirements associated with becoming an approved association.
- How similar businesses can participate in Association Health Plans and how the laws are evolving regarding the rules on membership access.
-
Benefits of becoming a member of an Association.
-
How the Affordable Care Act has impacted Association Health Plan regulations.
- Changes in laws and regulations at the state and federal levels.
- What to consider when starting a new association.
- Costs associated with starting an Association Health Plan.
-
How healthcare brokers can increase business awareness of Association Health Plans/
-
The estimated amount of time it takes to get an Association Health Plan ready to offer to members.
- Factors that impact the healthcare savings for Association Health Plans.
- Mitigating risks associated with the “death spiral concept.”
-
The importance of underwriting and reviewing new members to ensure the viability of association health plans.
Key Takeaways:
-
Connect with a good broker to learn what options are available for your association and members.
- Consider the viability of your group for sponsoring a health plan.
-
Consider your state laws regarding health plan options.
Connect with Todd Martin:
-
Phone: (612) 335-1409
- Email: Todd.Martin@Stinson.com
This episode was brought to you by…
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Tameika Johnson is the Annuals and Corporate Supervisor at Insurance Licensing Services of America (ILSA). As the leader of ILSA’s Tax Team, she is responsible for helping clients with their corporate tax filings and annual returns. Her team also covers Secretary of State Certificate of Authority reinstatements and withdrawals and DBA renewals among other functions. She’s been with ILSA for over ten years and has since acquired accolades that made her one of ILSA’s most celebrated employees.
In this episode, Tameika shares her knowledge when it comes to licensing and compliance regarding the Secretary of State. She discusses the many hurdles most of her clients face along with the penalties clients incur when they don’t pay attention to compliance laws. She also provides genuine advice for newcomers in the industry.
“You don't want your compliance costs to be more than what you're making in business.” – Tameika Johnson
Today on Spot On Insurance:
- How Tameika started with ILSA.
- The many issues she tackles with her clients.
- Issues she has helped clients overcome.
- Why it's hard to use "Trust" when it comes to name changing.
- Tips for clients just starting out.
- Do agencies pay enough attention to compliance?
- Her experiences with CPAs and attorneys?
Key Takeaway:
- There are states that still require disregarded entities to file a tax return.
- You can be forfeited at the Secretary of State level because you didn't pay your taxes.
Connect with Tameika Johnson
- Email: tjohnson@ilsainc.com
- Phone: 254 7298002
This episode was brought to you by…
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Steve Lawrence is Vice President of Licensing at AssuredPartners, a company that focuses on building quality relationships with their clients and forging solid partnerships throughout the insurance industry. Steve has over sixteen years’ experience in all facets of licensing and regulatory compliance. His specialties include licensing, annual reports, and Secretary of State filings.
In this episode, Steve shares his background and current function at AssuredPartners. He discusses the differences and similarities between a merger and an acquisition as well as the various processes involved for each. He also explains how a company’s future would be affected following a merger or acquisition.
“When you know what you're doing, there's a big difference from the person that falls into trap after trap.” – Steve Lawrence
Today on Spot On Insurance:
- His background and journey in the insurance industry.
- His responsibilities at AssuredPartners Inc.
- The difference between a merger and an acquisition.
- How he makes sure every component gets done.
- The processes involved in mergers.
- How do mergers affect future annual report filings?
- The role of timing in mergers and acquisitions.
Key Takeaway:
- It's best to ensure you have all the necessary documents filed when withdrawing an entity.
Connect with Steve Lawrence
- AssuredPartners Inc.
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Matt Dietz is a Farmers Insurance agent and the owner of the Dietz Agency, a full-service agency that currently has over 4,000 policies and two full-time licensed employees. His agency offers a variety of insurance coverages including personal, home, auto, commercial, and life and health lines. He also hosts two insurance related podcasts: None of My Business, where he interviews guests and experts, and Simply Explaining Insurance, a one-man show where he discusses some of the more personal aspects of insurance.
In this episode, Matt shares the wisdom he’s learned in trying to scale his business and explains why bigger is not always better when it comes to running an efficient agency. He shares his poor experiences in scaling his business, why it failed, and his takeaway. He also explains how he runs his agency, his qualifications for hiring employees, and a few of his marketing techniques on social media.
“The caliber of the person you hire will dictate how much work you can do and how much business you can write.” – Matt Dietz
Today on Spot On Insurance:
- How he runs a 4,000-policy agency with only two full-time staff.
- Why having a "sky is the limit" mentality is not always good.
- Why his first attempt at scaling failed.
- How he eventually found the right people to help his company grow.
- What is the Power Hour? How does it work?
- How does his business thrive with just two staff members?
- How he markets his business through Facebook.
Key Takeaway:
- Finding the right people is the toughest part of the job.
- Non-verbal communication is important during the interview process.
- Paying more and expecting more is the first step for giving good service.
Connect with Matt Dietz
- Dietz Agency
- Simply Explaining Insurance podcast
- None of my Business podcast
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Brian Allen has been in management positions at Insurance Licensing Services of America, Inc. (ILSA) for over five years. He has collaborated with clients and developers to create and implement ILSA’s SLIC Portal and a new and expansive Tax Calculator.
In this episode, Brian shares his knowledge concerning the different penalties and standards in multiple states with regards to surplus lines filings. He shares many stories and his personal experience around the subject, particularly those that lead to penalties or fines. He also provides good advice on how to avoid penalties especially, when it comes to creating year-end reports.
“It's not only important to get everything in on time but it also has to be exactly right.” – Brian Allen
Today on Spot On Insurance:
- His assessment of surplus lines filings.
- Are the states' internal concerns overriding the desire for standardization?
- The technological adaptability of different states.
- Why many agents and brokers suffer from penalties and fines.
- Differences between big and small companies with regards to systems processing surplus lines.
- Tips to avoid penalties when creating reports.
- Why states require "Zero" reports.
Key Takeaway:
- At the end of the year, every single state will want some kind of a report.
- Each state being different makes creating uniformity more daunting.
- Standardized processes may help one state, but may hurt another state.
Connect with Brian Allen
- ILSA
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Christa Rapoport is an Insurance Regulatory Affairs Attorney for Nelson Taplin Goldwater. In our last episode, Christa described what her life was like before she joined the insurance industry, matters handled by her firm, and why surplus lines are critical for growing businesses. She also touched on the role of cybersecurity in her line of work as well as shared her own experience with regards to the subject.
In this episode, Christa explains how surplus lines are regulated, how the market can cover non-traditional jobs, and differentiates a typical broker to an MGA. She also shares her opinion on cryptocurrencies and why it would be difficult for the insurance industry to create plans around them.
“Words matter. What we do is regulated and everything we do in this industry is defined.” – Christa Rapoport
Today on Spot On Insurance:
- How is the surplus lines market regulated?
- With advances in technology, states are conducting examinations much faster.
- The difference between a broker and a Managing General Agent.
- Statutory requirements with regards to refunding unearned premiums.
- How do unapproved trade names play into issues of surplus lines?
- Will cryptocurrencies ever be covered by the standard insurance market?
Key Takeaway:
- It's important to make sure you're not paying fees to unlicensed folks.
- Bitcoin, the newest emerging risk, will it follow the pattern of self-insurance to surplus lines to standard insurance.
Connect with Christa Rapoport
- Nelson Taplin Goldwater
- Email: crapoport@ntgconsultants.com
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
*Connect, Learn, Share*
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Christa Rapoport is a former registered nurse and a university of Virginia-trained attorney and is currently working as an Insurance Regulatory Affairs Attorney for Nelson Taplin Goldwater, a group that provides representation for the insurance industry. Christa has experience in general corporate, compliance, regulatory affairs, and growth strategy in the insurance industry and has worked for some of the largest insurance companies in the world such as Tokio Marine, Japan’s largest non-life insurance company.
In this episode, Christa describes her experience as a surgical nurse and what made her decide to join the insurance industry. She explains the intricacy of surplus lines and why it is such a crucial component of the insurance market. She also relays her hands-on assessment of cybersecurity matters and how she and her team were able to come up with solutions.
“It’s really important now that we are using so many different types of vendors and so many companies who work together, that we pay attention to how they’re operating.” – Christa Rapoport
Today on Spot On Insurance:
- Her surgical nursing experience and how she transitioned into the insurance industry.
- What Nelson Taplin Goldwater is about and their projects
- What are Financial and Market Conduct examinations?
- The difference between standard insurance and surplus lines?
Key Takeaway:
- Cyber security issues can come from anywhere and you end up spending a lot of time to fix even a small problem.
- Emerging risks evolve from self insurance to surplus lines to standard insurance.
Connect with Christa Rapoport
- Nelson Taplin Goldwater
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
SOIEP47 Exploring The Securities & Insurance Licensing Association (SILA)
Diana Capes is the Executive Director of the Securities & Insurance Licensing Association (SILA). Established in 1990, SILA is an organization that serves to bring licensing experts together whose careers are geared towards all aspects of securities registration and insurance licensing. Diana has over 36 years’ experience in the insurance industry and is responsible for helping the company achieve their goals through various perspectives and ideas she has accumulated over the years.
In this episode, Diana shares SILA’s backstory, why it was founded, and what it was before it was named SILA. She describes the various projects SILA has for members, the benefits that await them, and explains how their company helps individuals grow in the insurance licensing industry. She also shares her thoughts on the current state of the industry and what it means for those who may want to be an agent in the near future.
“Jobs, training, and career advancements are only good if they offer those types of excitement for the younger generation coming onboard.” – Diana Capes
Today on Spot On Insurance:
How did SILA start?
- The benefits of joining SILA.
- How does SILA connect people professionally in the industry?
- What kind of certifications and designations can you look forward to attaining?
- How does SILA attract younger people?
- How do you reap the benefits of being a SILA member?
Key Takeaway:
- We should strive to grow the young individual not just with information, but experience within the insurance industry.
- Both young and old agents should always strive to grow with the industry they’re in.
Connect with Diana Capes
- SILA
- Email: dcapes@sila.org
- Phone: (800) 428-8329
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Lorenzo Houston is the Compliance Director of U.S. Risk, LLC., a privately-owned specialty lines company specializing in underwriting management and wholesale brokering services. He previously served as the Supervisor for the Surplus Lines Tax Department at Insurance Licensing Services of America (ILSA) before being appointed to a managerial role of the Internal Auditing department. While working as the Compliance Director at U.S. Risk, LLC., he is also the owner of the online beauty supply store, TraciLoren.
Today, Lorenzo joins us to share his perspective on what it’s like to work in the insurance industry as well as his career journey in the insurance space. He also shares valuable tips for people working in the surplus lines industry, the importance of networking with others throughout the industry, as well as his challenges as a new business owner.
“Success is a moving target that is achieved over and over again.” - Lorenzo Houston
Today on Spot On Insurance:
- The importance of understanding how people learn and how to use that to create effective training materials.
- The importance of networking with others in the insurance industry.
- The day-to-day tasks associated with being a Compliance Director.
- Common challenges during the surplus lines tax filing period.
- Why finding a work-life balance is his biggest challenge?
- The one accomplishment he is most proud of.
- Overcoming low points as an entrepreneur.
- Creating a stand-out brand in a competitive market.
- His definition of success.
Key Takeaways:
- New insurance industry professionals really need to take time to focus on learning the industry.
- Step outside your box through networking and getting in touch with your regulators.
- It’s important to remember that surplus lines is compliance, but it is also a function of compliance.
- Make sure you get your reports done early.
Connect with Lorenzo Houston:
- U.S. Risk, LLC.
- Email: Houston_Lorenzo@yahoo.com
- Website: www.traciloren.com
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Joyce King supervises the Marketing and New Client Services Department at Insurance Licensing Services of America (ILSA). In part 1 of this series, Joyce discussed licensing and compliance issues as they relate to different types of mergers and acquisitions. She explained what could happen if you followed standard licensing and compliance as well as what could happen if you don’t, and provided tips and strategies with regards to designated producers and state laws when they are due for renewal.
In this episode, Joyce discusses the topics of budgeting, expansion and withdrawal. She shares the critical points to remember for your compliance budget and why this is the first thing an agency should plan for every year. She also shares her advice regarding state expansion and state withdrawal and which states make it more difficult.
“If you're expanding into new states, you definitely want to take the time factor into consideration.” – Joyce King
Today on Spot On Insurance:
- When it comes to budgeting, where should we direct our attention?
- Steps to consider when expanding to new states.
- The five states that will take the longest time to penetrate.
- The process to look forward to if you plan to withdraw from a state.
- States that will assess penalties on a daily basis if your annual return is late.
- When should you not renew policies?
- How to handle the corporate tax returns for the following year.
Key Takeaway:
- You're supposed to do your due diligence and know when those reports are due.
- There are some states which may test your patience if you want to expand into them.
- You should renew your license at least 45 days before it’s due to avoid delays and incur penalties.
Connect with Joyce King
Email: j.king@ilsainc.com
- Phone: (254) 729-6127
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Joyce King is the Quality Assurance Administrator at Insurance Licensing Services of America (ILSA) where she provides education and consultation services to the company’s clients in matters ranging from licensing and affiliation to filing and reporting for surplus lines licensees across the United States. She has over 10 years of experience in the areas of insurance licensing and compliance.
Joyce joins us on today’s episode to discuss the various things insurance agency owners need to be aware of regarding licensing and compliance while creating their yearly budgets. She explains why creating systems to keep track of your license renewal due dates, state fees, and Continuing Education due dates are critical to prevent penalties with the states you want to conduct business in and why agency owners should keep copies of their licenses.
Take your CE’s well before the due date so they are reported to the state and so you can renew your license on-time.” - Joyce King
Today on Spot On Insurance:
- What to consider regarding compliance while creating a yearly budget.
- Steps to take when expanding into new states and offering new insurance products.
- The 5 states that take the longest for agency owners to expand into.
- The process of withdrawing your license from a state and the importance of surrendering it appropriately.
- The importance of tracking license renewal due dates, state fees, and Continuing Education due dates.
- Consequences associated with waiting to complete your Continuing Education courses.
- What to do with license copies and why you need them.
- How business registrations can impact an insurance agency’s expansion plans.
- How to handle corporate tax returns after expanding into a new state.
- Fees associated with filing minimum reports in various states.
Key Takeaways:
- Use a spreadsheet or other tracking system to keep track of when your licenses are due for renewal.
- Don’t wait until the last minute to take your CE’s. Take them well before the due date to prevent consequences such as late reporting and licensing expiration.
- The main reason you need copies of your licenses with the new expiration dates is to give it to your carriers.
Connect with Joyce King:
- Insurance Licensing Services of America
- Phone: (254) 729-6127
- Email:king@ilsainc.com
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Eddy DeMelo is an expert digital marketer who focuses on organic strategies to boost web traffic such as email, content strategy, and SEO. He is the Co-Founder and Lead Search Engine Optimization Specialist of Agency Appeal, a visual identity, branding, and website development company that helps independent insurance agents serve their clients better. His responsibilities in the company involve developing SEO strategies for hundreds of insurance agencies and knowing the ins-and-outs of ranking your agency higher on Google.
Today, Eddy shares his thoughts on one of the most prominent acronyms to ever hit the internet: SEO. He defines SEO, its concept, and why it has become such a buzzword for companies big and small. He also shares his insight on how agents or agencies can use SEO in their business without having to clog their website with repetitive keywords or blogs.
“If you do everything with your users in mind first, the SEO benefits will follow.” – Eddy DeMelo
Today on Spot On Insurance:
- What is SEO?
- The biggest shift in the keyword perspective.
- What are keyword families and how do you identify them?
- The three things high level search engines only care about.
- Do you need to update your website regularly?
- The shift in messaging that's happening.
- Why is digital marketing and SEO important today?
- Common mistakes users make when it comes to digital marketing.
Key Takeaway:
- The great thing about doing it digitally is it levels the playing field.
- Build, develop and optimize your users first, because the search engines care about the same things your users care about.
Resources Mentioned:
- Keywords planner
Connect with Eddy DeMelo
- Agency Appeal
- Beyond The Bots
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Cindy Donaldson is the CEO of Red Barn Consulting LLC., a consulting firm geared towards helping organizations make wise decisions when it comes to marketing, sales, and business operations. She is an award-winning salesperson and has gained national recognition in the field of digital marketing and social selling. She works best with small to medium-sized companies that are currently stuck and are willing to invest in their business to grow larger. Cindy’s extensive experience makes her a specialist in the banking, healthcare, and insurance industries.
In this episode, Cindy discusses the importance of having the right kind of culture in an agency. She explains how culture can affect an agency’s growth and efficiency and why owners should not be hesitant when it comes to letting go of some employees for the sake of the company. She also shares some tips on how agencies big and small can initiate and implement change effectively.
“Culture really is king. If they have mastered that piece, it's a huge step towards being the agency of the future.” – Cindy Donaldson
Today on Spot On Insurance:
- What it’s like to change the culture from the top of the organization?
- Questions a leader needs to ask to improve agency culture.
- The problem with principals starting as prior producers.
- The difference between a leader and a manager.
- The three Ps of agency operations.
- How to deal with an owner who refuses to acknowledge a problem.
- The “frog in water” analogy when it comes to structural changes.
- Tips to help business owners initiate change.
Key Takeaway:
- Being a great leader does not always translate to being a great manager, and vice versa.
- The traditional insurance agency structure is a lot like a dysfunctional family.
- There's no bad employee, just those who aren't a good fit for the company.
Connect with Cindy Donaldson
- Red Barn Consulting
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Matt Aaron is the Co-Founder of Insurance Agent App, a service that provides excellent ways to improve agency-policyholder relationships through their user-friendly mobile applications. Their app, Insurance Agent, helps independent agencies to contain and engage clients throughout their coverage. Matt has over 20 years’ experience working in the television advertising and sales management industry, and has also co-founded the online and mobile game developer, Head Fake, back in 2008.
Today, Matt explains how Insurance Agent helps agencies strengthen their relationships with their clients. He discusses the need to have an app in today’s smartphone-driven society, how apps can still be personal, and why banking companies won’t go anywhere without an app. He also shares why having an app can be just as good as having a customer service representative.
“An application should streamline, for an agency, the business that they handle most of the time; both internal and external purposes.” – Matt Aaron
Today on Spot On Insurance:
- What exactly is an app and how is it different from a mobile-responsive website?
- Why would you want to have a customer-facing app on your website?
- How could apps do more for agencies and clients?
- His thoughts on the lack of personal communication with apps.
-
The important functions an app has to do really well.
Key Takeaway:
-
Insurance is one of the largest advertising categories for search engines.
- No one today would join a bank without an app.
- Your app doesn't have to be perfect at launch, but it has to be continuously refined over time.
Connect with Matt Aaron
- Insurance Agent App
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, ***Spot Light*** your review on iTunes and share your favorite episodes with friends and colleagues!
David Siekman is a Performance Consultant at Agency Performance Partners, a business centered on improving companies and other organizations by providing the foundation for a customized agency action plan. David’s role involves working with insurance agencies to boost performance with the use of effective strategies. He is also an accomplished sales professional with over fifteen years of experience in the hands-on management of sales and marketing teams.
Today, David weighs in on what it takes to be an excellent inbound or sales caller. He explains the importance of getting everything right from the greeting all the way to the end of the call. He also shares a few tricks he’s learned over the years when it comes to boosting both conversion and referral rates.
“Figure out what they're paying today and what you need to do in order for them to come on board with you.” – David Siekman
Today on Spot On Insurance:
- How we should greet clients on the phone and why a proper greeting is necessary.
- What's important when gathering information and quoting?
- What's supposed to happen during the "Quote Presentation and Ask" stage?
- Suggestions on how to deal with the discomfort of silence.
- The best ways to handle objections.
- What it means when people say "They need more time."
- What you should do when clients actually need more time.
- Post-sale activities that you can use in building the client relationship.
- Referrals, testimonials, and how they can drive additional business.
Key Takeaway:
- Don't always assume the call to be about price.
- A discount is a great way to show consumers that you have their best interests at heart.
- Nobody likes to be questioned, even when they don't know what they're talking about.
- Referrals are one of the largest sources of business for most agents in the United States.
Connect with David Siekman
- Agency Performance Partners
- Email: david@agencyperformancepartners.com
- Phone: (401) 332-8904
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Lesli Leakey is a licensed adjuster in the State of Texas and the Director of Compliance and Product Manager of WebCE, a business that provides quality education products and services to working individuals and corporations throughout the country. Lesli’s primary responsibility is managing the Compliance department. She oversees brand compliance, manages the staff, and handles both internal and external compliance matters.
Today, Lesli shares her wisdom on the do’s and don’ts of continuing education (CE) compliance and renewals. She explains the chief requirements for continuing education, the importance of being proactive, and what happens if you don’t complete on time. She also shares tips on making renewals easier as well as how their company can help professionals when it comes to continuing education.
“When you wait until the very end, you're cramming everything into a short period of time and that could interfere with business that needs to be conducted.” – Lesli Leakey
Today on Spot On Insurance:
- What is WebCE and how does their company help those in the insurance industry?
- The required hours for continuing education.
- When do you need to complete your CEs?
- What happens if you don't get those CEs completed on time?
- Specific product training requirements for continuing education.
- What does reciprocity look like between states?
- Why CEs for adjusters are more complicated than those of producers.
- Tips on making your renewals less stressful.
-
Reporting of credits and posting transcripts.
Key Takeaway:
-
You have to be proactive when it comes to continuing education requirements.
- It's important to know the requirements for your individual state that you're licensed in.
- If one of your non-resident licenses requires continuing education, then you can designate another state as your home state.
Connect with Lesli Leakey
- WebCE
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Dan Oberdorfer and Nicole Faulkner work with Stinson Leonard Street, a business that offers complex regional and national practices in business and commercial litigation, corporate finance as well as employment, labor, and benefits amongst other areas. Dan is an attorney with experience in the field of counseling and litigating, including complex employment disputes, discrimination and harassment, and breach of contract. Nicole’s role as an Employment and Labor Law Associate is to advise employers dealing with corporate laws and policies such as the Fair Labor Standards Act and the Americans with Disabilities Act.
Today, Dan and Nicole offer their sage advice to employers when it comes to dealing with medical marijuana in the workplace. They discuss the current political stance on marijuana from a national and local viewpoint, and what employers can and cannot do when it comes to employees who use marijuana. They also cite concrete examples and scenarios that provide real-world applications of the current policies.
“If an employee is showing up impaired or has medical marijuana on their person, those are not things the employer has to look the other way for.” – Nicole Faulkner
Today on Spot On Insurance:
- Where are we right now when it comes to state level legislation with Marijuana?
- Is it possible to have one consistent policy across different states?
- How are the legal states addressing the employment-related issues?
- Why laws on marijuana can be likened to those on alcohol.
- Can an employer ask an employee to produce a medical marijuana card?
- What do employers need to be careful of to avoid disability discrimination lawsuits?
- Biggest mistakes employers make when handling medical marijuana in the workplace.
Key Takeaway:
- The employer cannot discriminate against the employee for taking medical marijuana if it's a prescription.
- Some states don't allow employers to fire someone for testing positive for marijuana use if they’re a registered user.
- Marijuana is still not legal under Federal Law.
Connect with Dan Oberdorfer
- Stinson Leonard Street
- Phone: (612) 335 1832
Connect with Nicole Faulkner
- Stinson Leonard Street
- Phone: (612) 335 1675
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Brandie Hinen is a transformation coach and founder of Powerhouse Learning, a business that aims to help organizations rise to their very best through motivational coaching. What sets Powerhouse Learning apart from other coaching organizations is how they utilize both onsite and online tools to guarantee consistency and long-term behavioral change. She is an accomplished trainer, instructor, and considered an expert when it comes to motivating people in the workplace.
In this episode, Brandie explains how her program, Conversation for Action, brings about a person’s best version. She cites how it affects the three types of people in the company and the essential points of focus in her program. She also defines what it means to commit and why it’s not the same as making a promise.
“Our number one factor for success is how well we withstand and overcome adversity.” – Brandie Hinen
Today on Spot On Insurance:
- What does "Conversation for Action" mean?
- How does Conversation for Action change culture, communication, and accountability?
- The three types of people in your organization.
- The Conversation for Action five step formula.
- The difference between promise and commitment.
- What prevents a company from fully implementing her program?
- Her formula for avoiding disappointment from her staff.
- Tips to implement the Conversation for Action process in your organization.
Key Takeaway:
- We can't really manage time, but we can manage our energy.
- Every survey without fail has "communication" that is lacking in an organization.
- We need to plan for the failure.
Connect with Brandie Hinen
- Powerhouse Learning
- By When book
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Mike Demko is a nationally recognized digital marketing expert and sales and marketing professional with over 20 years’ experience. He is the founder of My Insurance Videos, a company that serves to help agents build a better way to engage, educate, and sell through video marketing. In founding his company, Mike drew inspiration from learning the challenges local agents have in today’s competitive landscape. He and his team are committed to making it simple and easy for agents to drive growth and retention by leveraging video.
Today, Mike explains why video is the best way to grow your business. He talks about why video marketing has become imperative, how it drives sales and growth through the roof, and why it’s so much better than text or voice alone. He also shares his thoughts on how much a beginner’s budget should be and how your video can get more views.
“When you look at video and the importance it has in today's society as it relates to communication and marketing - it's just massive.” – Mike Demko
Today on Spot On Insurance:
- Why should you consider using video for marketing?
- Why video marketing is growing
- The power of video marketing compared to just voice and text alone.
- The type of videos you can make.
- Should you release all your video content at the same time?
- How should you distribute your videos?
- The impact of adding videos to email on click through rates.
- The do's and don'ts of committing to video.
- The 2018 outlook with regards to internet traffic on videos.
- How his business makes it easy for someone to create a video.
Key Takeaway:
- People would rather watch a video than read text on a page.
- People get bored of a talking head video. It has to be visually stimulating from start to finish.
- Be realistic and start with low hanging fruit when just starting out.
Connect with Mike Demko
- My Insurance Videos
- Email: mike@myinsurancevideos.com
- Phone: 858 461-1075
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Michael Jans is the Co-Founder of Agency Revolution, a digital marketing company that delivers technology and training to brokerages and independent insurance agencies for over twenty years. Their goal is to help businesses have a meaningful relationship with their consumers. Michael has consulted, trained, and coached with more than 11,000 agency principals with a diverse clientele from North and South America, Asia, Europe, and even Africa. His goal for Agency Revolution is not to make it the most aggressive digital marketing company, but the most trusted.
Michael joins me today to share his insight on new and expanding ways businesses can connect with their consumers. He describes the effects of technology on advertising and sales and explains why having online content is not always considered digital marketing. He also shares tips on what type of material to produce as well as the topics old and new businesses can use to engage and retain consumers.
“When you create content, it's really about them and not about you.” – Michael Jans
Today on Spot On Insurance:
- Why today's insurance consumer has changed.
- The effect of technology on trends and people's behavior.
- What is content marketing and it differs from other forms of marketing?
- The marketing that works and doesn't work for their company.
- The ideal client that generates the most growth and highest margin.
- The form of content you can use to give value to the consumer.
- Topics you can use for your content to attract consumers.
Key Takeaway:
- The ability to keep clients longer is very profitable.
- Marketing doesn't stop when you get a customer, that's just the beginning.
Connect with Michael Jans
- Agency Revolution
- Michael Jans official website
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
In the previous episode, Stefanie Cantu explained what the Producer, Adjuster, and Surplus Lines licenses are. She discussed which license is meant for whom, some of the standard requirements, and why people should get licensed. She also talked about different scenarios involving having the wrong license as well as some of the common mistakes made by those who want to get a license.
Today, Stefanie puts the spotlight on “specialized” licenses. She briefly discusses the similarities and differences between each one, the kinds of requirements involved, and their importance. She also highlights some of the hurdles that may delay or prevent the issuance of a license and why specific licenses can take months to be released.
“It might seem like a lot of money upfront to get a license issued, but in the long run it's going to be beneficial.” – Stefanie Cantu
Today on Spot On Insurance:
- What is a TPA, or Third Party Administrator, license?
- Who would need a TPA?
- What is a Managing General Agent license?
- The general timetable for getting licensed.
- The kinds of requirements in getting a license.
- What is a Limited Line license and who needs it?
- What are Risk Retention Group (RRG) and Risk Purchasing Group (RPG) licenses for?
- The obstacles clients face when it comes to specialized licenses?
- Her thoughts on those who hesitate on getting licensed for other states.
Key Takeaway:
- Every state has different rules and regulations regarding TPA licensing.
- Both MGA and TPA are not commonly offered electronically, and can take weeks or even months to get them issued.
- You can't extrapolate requirements from one state what you'll need in another one.
Connect with Stefanie Cantu
- Insurance Licensing Services of America
- Email: scantu@ilsainc.com
- Phone: 254 729-6139
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Stefanie Cantu is a Supervisor at ILSA’s Licensing and Compliance Department. She got her start back in 2008 in ILSA’s Intake team where her impressive skills got her transferred to the Renewals team. She excelled in Renewals and became part of the Licensing team, a group she eventually supervised. She’s been with the company for over eight years and was given the Outstanding Customer Service award four times plus an Employee of the Year nomination in 2013. Her responsibilities include being the go-to person for complex questions on compliance, and knowing where to look or who to contact for answers she doesn’t have.
Today, Stefanie shares her wisdom on three licenses: Producer, Adjuster, and Surplus lines. She explains the similarities and difference of each one, who should avail them, and some of their standard requirements. She also shares her insight on what it means to have the wrong license and common mistakes clients make when getting a license.
“Having the wrong license is like having no license at all.” – Stefanie Cantu
Today on Spot On Insurance:
- What a Producer license is and what it allow you to do.
- Who would need a Producer license?
- Where do you need to be licensed as a producer?
- What she says to those who say a producer license costs too much.
- Difference between adjuster license and producer license.
-
The different types of adjuster license.
-
What happens when you have the wrong license?
- Surplus lines licenses and the people who need them.
- Mistakes most people make when getting a license.
Key Takeaway:
- Having a producer license can increase your commission in a particular state.
- If there's any little chance you might want to do business in that state, it's best to weigh out your options and make sure you're covered and compliant across the board.
Connect with Stefanie Cantu
- Insurance Licensing Services of America
- Email: scantu@ilsainc.com
- Phone: 254 729-6139
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Michael Tracy has spent over ten years in sales leadership, telecommunications, and marketing. He is the founder of Sales Journey, a business that helps small business, entrepreneurs, and sales professionals through their specialized training programs. The goal of their training program is to double their sales in just 90 days by teaching tactics, not strategies. Michael believes the number one cause of business success is high sales, and that the exact opposite, low sales, is the cause of its downfall.
Today, Michael shares his wisdom regarding the concept of prospect hunting and converting. Having spent much of his life in sales, he seeks to provide advice on how to vet the right prospects, how to improve relationships with them, and how to leverage them for networking purposes. He also shares his top tips for those who are either looking to get started or for those who are just not having any luck with their prospects.
“For every day you prospect you get 90 days of benefit.” – Michael Tracy
Today on Spot On Insurance:
- How do you find more prospects?
- Getting people to set up appointments with you.
- What is the “Three Sales Method?”
- What is a qualified prospect and how to filter them.
- Why teaching is the new selling.
-
The impact of the internet on sales agents and businesses.
-
Contextual framing and why it’s important for the sales process.
- Advice for sales agents who have poor closing ratios.
- What is the Minimum Viable Sale?
- The biggest mistake sales professionals make.
Key Takeaway:
- When you stop prospecting you don't feel the pain immediately, but it does catch up with you.
- There's not a lot of differentiation when it comes to different types of insurance other than price.
- Objections usually indicate they're not interested in making a decision right now.
Connect with Michael Tracy
- Sales Journey
- Michael Tracy official website
- Email: michael@michaeltracy.io
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Kelly Donahue-Piro is the Founder and President of Agency Performance Partners, a company that works with small businesses across the country to help them create and implement programs and boost revenues, efficiency, and overall profit. Kelly herself is considered a no-nonsense effectiveness expert in her field, having helped hundreds of insurance agencies in their search for sustainable improvement opportunities. Some of her specialties include management and supervisory coaching, digital marketing strategy, and customer retention strategy planning and development.
Today, Kelly joins us to share her thoughts and wisdom when it comes to elevating your level of service through proactive renewal calls. She explains why being proactive can help improve your company’s reputation, why it can lead to a better customer experience, and how it gives the agent control over the conversation.
“Being proactive is the key to your success.” – Kelly Donahue-Piro
Today on Spot On Insurance:
- How being proactive helps improve the customer experience.
- What does "5-Star" service really mean?
- What happens when we're not proactive in going out to clients?
- How to communicate to a client as a human and not as a seller.
- Why making proactive renewal calls is the best way to decrease stress.
- What is account rounding?
- The value of updating contact information through proactive renewal calls.
- What gets in the way of making proactive renewal calls
Key Takeaway:
- If we want to be different and better than the direct writers, we have to build that relationship with our community and with our customers.
- You're waking a sleeping giant with an unauthentic customer experience and that's going to hurt you.
Resources Mentioned
- The 7 Habits of Highly Effective People book by Stephen R. Covey
Connect with Kelly Donahue-Piro
- Agency Performance Partners
This episode was brought to you by…Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Melissa Agnes is the President and Co-Founder of Agnes + Day Inc. She is a sought-after keynote speaker and, as a consultant, she helps global brands and government entities prevent and manage a wide range of issues and crisis, ultimately guiding organizations to implement what she calls a crisis-ready culture. As a keynote speaker, she travels the world speaking to government and international organizations such as the Ministries of Foreign Affairs and NATO, as well as a wide range private and public companies, and universities.
Today, Melissa explains the importance of knowing the difference between an issue and a crisis and the effect of social media when it comes to negative issues and viral videos. She also shares her insight on theUnited Airlines’ airplane scandal and Oreo’s simple yet perfectly executed political stance regarding the LGBT community.
“No matter what the crisis - no matter where it originates - social media is a factor in crisis management.” – Melissa Agnes
Today on Spot On Insurance:
- The difference between an issue and a crisis.
- How do you identify something negative going viral?
- The steps you should take to regain your reputation?
- Her take on United Airlines’ viral video and social media issue.
- How to implement a crisis-ready culture.
- The appropriate time to respond to a viral video or social media issue.
- Why Oreo's LGBT social media statement was brilliant.
- Her thoughts on using autoresponders on social media platforms.
Key Takeaway:
- A social media crisis is not actually a crisis, it's an issue that's gone viral on social media.
- Social media is meant to be a platform for two-way communication.
Connect with Melissa Agnes
- Melissa Agnes official website
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Joyce King has over ten years of experience in the insurance licensing and compliance industry, and currently supervises the Marketing and New Client Services Department at ILSA. Her primary responsibility is to oversee marketing staff activities and new business enrollment operations. She has received multiple awards and merits for her leadership skills and customer service initiatives. Some of her most notable awards are Outstanding Customer Service Award in 2006 and Supervisor of The Year Award in 2007.
Today, Joyce joins me to discuss licensing and compliance issues as they relate to mergers and acquisitions. She shares scenarios of what happens when you prioritize licensing and compliance, and explains what happens when you don’t. She also shares some advice regarding designated producers and state laws when you have to replace them.
“You need to be licensed and registered if you want to not have any compliance fault whatsoever.” – Joyce King
Today on Spot On Insurance:
- Why licensing and compliance should be top priority during mergers and acquisitions.
- What we should be looking at when it comes to cost of compliance.
- What is "asset purchase only"?
- Why you need to consider name familiarity?
- Bringing in new faces during mergers and acquisitions.
- What you should do with an old, unused entity?
Key Takeaway:
- You always want to wait and save your domicile state for last.
- If you're looking at merging entities or bringing on a new responsible producer, make sure there's some level of commitment from that person.
- Licenses are not transferable; they are tied to federal tax ID numbers.
Connect with Joyce King
- ILSA
- Email: j.king@ilsainc.com
- Phone: (254) 729-6127
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Stan G. Haithcock is more popularly known as Stan The Annuity Man. He is one of the country’s top tier independent annuity agents and is considered an expert in his field. His best traits include his commitment to transparency, honesty, and endless passion for research. He has spoken at every major financial trade show in the U.S. and has appeared in numerous TV and radio shows. Because of his outspoken and brutally honest persona, Stan has come to accept another moniker given to him by his many fans: The Walking Middle Finger of Annuity Truth.
In this episode, Stan explains the importance of annuities in the context of both the buyer and the seller. He dives in on what buyers should look out for and what not to be hyped about. He also talks about the different factors on needing an annuity and why sellers should always sell the steak, not the sizzle.
“What I bring to the table are brutally factual, contractual guarantees. No hype.” – Stan G. Haithcock
Today on Spot On Insurance:
- Why annuities are important and why advisors and agents should focus more on this category.
- The various types of annuities and what the “PILL” acronym means.
- How do you know if you need an annuity?
- Is the gap between number of licensed advisors and number of people looking to purchase annuities real?
- His insight on the current regulatory environment and the factors influencing the environment.
- The questions you should ask yourself if you want to buy an annuity.
- What "All steak, no sizzle" means when buying and selling annuities.
- Tips on buying and selling annuities.
Key Takeaway:
- Most annuity carriers would love to get rid of the agents.
- Advisors underestimate people's want and need for contractual guarantees. People need an income floor.
Connect with Stan Haithcock:
- Stan the Annuity Man
- Email: stan@stantheannuityman.com
- The Annuity Stanifesto book
- QLAC Owner’s Manual book
- FIA - Fixed Index Annuity Owner’s Manual book
- SPIA Owner’s Manual book
- Income Rider Owner’s Manual book
- MYGA Owner’s Manual book
- DIA - Deferred Income / Longevity Annuity Owner’s Manual book
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Todd Martin is a partner at Stinson Leonard Street, LLP and has over 20 years of experience in employee benefits, transactions, insurance regulation, administrative law, and governance. He spent 7 of those 20 years working in the corporate legal group of a Fortune 500 insurer. One of his greatest achievements at Stinson is his ACA Status chart, a document designed to give a general overview of main mandates of the ACA. Todd serves to provide a practical approach to make sure clients understand the complex regulatory environment.
In this episode, Todd shares his thoughts on the politics that surround the Affordable Healthcare Act. He shares his views and ideas on what makes it great and what makes it disagreeable, and explains why the healthcare industry is much more complex than meets the eye. He also dives into how the ACA has impacted the insurance industry.
“The ACA caused a fundamental shift in the way the health insurance marketplace worked.” – Todd Martin
Today on Spot On Insurance:
- What is the Affordable Care Act and what does it include?
- Why the ACA is not a health care act, but a health insurance act.
- Interplay of regulations within the Affordable Healthcare Act and the existing state regulations.
- Groups majorly impacted by the Act and how they were impacted.
- The different perspectives on the ACA and their respective outcomes.
- His insight on regulating the ACA at the local and state level.
- The challenge on resolving complex healthcare policies in a political environment.
- The impact of healthcare cost on health insurance.
- Points we need to focus on to make progress.
- What drives the cost of healthcare?
Key Takeaway:
- Dealing with the cost of healthcare is incredibly difficult.
- The Affordable Care Act doesn't cover the entire field of regulation.
- The real solution does require cooperation and that can be challenging in a political environment.
Connect with Todd Martin
- Stinson Leonard Street
- Benefits Notes
- Phone: (612) 335-1409
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Dan Maher is the COO and Executive Director of the Excess Line Association of New York (ELANY). ELANY’s business focus revolves around facilitating and encouraging compliance with New York’s excess law line. It is a non-profit industry advisory association. Dan is an attorney who is licensed to practice not just in New York, but also New Jersey and a good number of federal courts. Before he joined ELANY, Dan was the Senior Vice President of Lancer Insurance Company.
In this episode, Dan explains the new developments in the surplus lines industry. He discusses the new regulatory scheme in New York and the possible impact of repealing the Diligent Effort. He also explains why the laws we have today are outdated when it comes to handling potential new risks.
“The Diligent Effort is not what determines whether or not a risk goes to the surplus lines market; it’s the needs of the insured and the retailer.” – Dan Maher
Today on Spot On Insurance:
- The interesting new video ELANY recently released.
- The current growth status in the E&S market.
- Is construction the main driver in the E&S market?
- The current regulatory scheme in New York, what it is, and why it is happening.
- Why the current regulatory scheme in New York looks to be anti-excess lines.
- Could the new restrictions potentially impact license reciprocity with other states?
- Repealing the Diligent Effort and its impact in the industry.
- Feedback from states that repealed Diligent Effort?
Key Takeaway:
- Most states allow some level of insurance punitive damages, New York does not.
- The laws are out of date to handle emerging risks.
Connect with Dan Maher
- Excess Lines Association of New York
- Phone: 646-2925500
- Email: dmaher@elany.org
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Christopher Boggs is the Executive Director of the Independent Insurance Agents & Brokers of America (Big “I”) Virtual University. He is focused on writing, researching, and teaching casualty and property insurance coverages and concepts to both Big “I” members and others in the insurance industry. He has authored more than 300 risk management and insurance articles on a diverse range of topics such as the MCS-90, enterprise risk management, and Credit Default Swaps. Chris has also authored 13 insurance and risk management books.
Today, Chris shares his thoughts on what he calls the psychology of downed trees and its implications in the insurance industry. He relates the subject to the recent hurricanes we’ve had and the possible problems agents would encounter and provide tips on how to respond properly.
“One of the worst parts of the recovery and reaction phase is not knowing what's going to happen.” – Christopher Boggs
Today on Spot On Insurance:
-
What is the psychology of downed trees and where did it originate?
-
The 5Rs of natural disaster
- What agents need to think about regarding the 5Rs of natural disaster?
- Tips for agents when it comes to claims and coverage after disasters.
Key Takeaway:
-
People who buy online as opposed to talking to an agent might not have the coverages they need.
-
Just because your neighbor got paid for it doesn't mean you're going to get paid; they might have different endorsements than you.
Connect with Christopher Boggs
- Independent Insurance Agents & Brokers of America
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Our guests today are our very own Tameika Johnson, Corporates and Annuals Supervisor, and Mayra Feregrino, Annual and Corporate Department Team Leader, from the ILSA tax team. Between these two ladies is over a decade’s worth of experience. Tameika assists clients with annual returns and tax filings and is the official leader of ILSA’s tax team, while Mayra has been a great help in making sure everything is executed accordingly.
For today’s episode, Tameika and Mayra discuss the events that lead to triggering tax returns and annual return filing. They also share their insights on what happens when agencies and businesses don’t file their returns as well as tips for those who plan to file.
“When an agency is registered, you are required to file an annual or bi-annual report.” – Mayra Feregrino
Today on Spot On Insurance:
- What triggers tax returns and annual return filing requirements?
- State corporate tax return filing requirements with the Department of Revenue.
- DOI license cancellation and withdrawal when it comes to winding down a business.
- What happens when you fail to file annual or bi-annual tax returns?
- Are people too lax when it comes to filing tax returns?
- The SOS and DOR corporate compliance reviews.
- What are DOR tax registrations?
- What is the one thing people should consider when filing returns?
Key Takeaway:
- It is very important for each state to have different forms otherwise it could mess the filings.
Connect with Tameika
- Email: tjohnsonn@ilsainc.com
- Phone: 254 7296119
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Tara Mitchell and Norma Essary are from the Surplus Lines Stamping Office of Texas (SLTX), a company whose job is to provide all our partners with meaningful data, analysis, and educational resources to empower those decisions while also facilitating compliance. Norma is the CEO and her duties involve overseeing the whole organization, making sure everything runs smoothly and according to compliance. Tara is the CIO and while her tenure is still short, her experience working for the Department of Insurance has enabled her to contribute to the company’s technology innovations.
In this episode, Norma and Tara discuss the possible ramifications of extreme weather conditions on insurance policies. They also provide insight on what the insurance industry could do to help those who suffered huge losses during the recent barrage of hurricanes that hit the U.S. this year as well as what our politicians should look into when it comes to natural disaster recovery.
“The insurance industry as a whole is still struggling to communicate better to legislatures and politicians.” – Norma Essary
Today on Spot On Insurance:
What is the paradigm shift that's going to be emerging in the near future?
- The importance of utilizing the internet and social media in times of disaster.
- Drone technology benefits when it comes to extreme weather events.
- The biggest gaps when it comes to natural disasters.
- Norma's insights on mitigations during extreme weather events.
- How did Hurricane Harvey affect the Texas Surplus Lines market?
- The value of Texas Premium Statewide for all insurance and surplus lines markets.
- What our political leaders need to know.
- What do people think about when they hear the term "surplus lines"? What is it, really?
- Have current depopulation efforts helped the recent hurricane events?
- Possible solutions that could arise from the recent hurricanes.
Key Takeaway:
- We're probably at a place where it will make sense what the difference really is from an admitted versus a non-admitted insurance policy, and the value it brings to the consumer.
Resources Mentioned:
- The National Flood Insurance Program
Connect with Tara Mitchell and Norma
- Email: techsupport@slsot.org
- Phone: 512 531 1880
- Surplus Lines Stamping Office of Texas website
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Tara Mitchell and Norma Essary are from the Surplus Lines Stamping Office of Texas (SLTX). Norma is the Executive Director and her task is to provide the oversight of the organization. She has been working with SLTX for just over a year, but she brings with her over 25 years of insurance and risk management experience.
Tara Mitchell is the IT Director and while she’s only been with the company for 10 months, she once worked from the Department of Insurance as a project manager and financial examiner. Her role is to look at the current technology of the company and innovate it in such a way that it would improve their internal processes.
In this episode, Tara and Norma share their wisdom with regards to some of the terms used in surplus lines. They also provide examples of scenarios where clients and agents run into problems and issues regarding filing and various transactions.
“Late filings can cause real financial consequences in terms of late fees, or worse, even enforcement cases.” – Tara Mitchell
Today on Spot On Insurance:
Common issues among late filers.
- What people need to know about coverage and class.
- Why it is difficult to evaluate eligible surplus lines policy.
- What people need to know about diligent effort.
- What are exempt commercial purchases?
- What people need to know when it comes to transaction types.
Key Takeaway:
- When it comes to compliance, sometimes it's just having that basic knowledge between what is a policy and what is a binder.
- Late filings are subject to penalties, consent orders, or other remedies.
Connect with Tara and Norma
- Email: techsupport@slsot.org
- Phone: 512 531 1880
- Surplus Lines Stamping Office of Texaswebsite
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Zane Gilmer is a partner at Stinson Leonard Street, a national law firm that offers legal advice and representation to persons and businesses experiencing complex legal issues. Zane’s practice focuses on compliance and business litigation. He represents companies in both state and federal courts as well as arbitration forums across the United States. His clientele includes small regional businesses, individuals, and large Fortune 100 companies.
In this episode, Zane discusses how insurance works when it comes to the marijuana industry and why it can be a problem if you don’t know your facts. He also shares real world cases and scenarios regarding various insurance issues in the marijuana industry.
“You have to understand the industry, so when you're writing insurance policies you understand the risk you're actually undertaking.” – Zane Gilmer
Today on Spot On Insurance:
-
The dichotomy when it comes to federal and state laws when it comes to marijuana.
-
Property and casualty insurance issues related to the marijuana industry.
- Examples of insurance cases involving marijuana.
- Considerations for health insurance coverage and medical marijuana.
- Ancillary businesses related to the marijuana industry.
Key Takeaways:
-
There are industries that popped up solely to serve the marijuana industry.
-
You have to be specific about what you're covering and it’s not different with marijuana.
Resources Mentioned:
- Stinson Leonard Street
Connect with Zane
Email: zane.gilmer@stinson.com
- Phone: (303) 376-8416
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Scott Wede is the Executive Director of the Surplus Lines Association of Arizona. Before he became the Executive Director, Scott was a retail broker for a large independent company in Arizona. He handled large accounts in utilities and aviation. Shortly after being introduced to the concept of surplus lines, he developed a clientele who had that kind of need in their business. After forty years as a retail broker, he became the company’s Executive Director.
In today’s episode, Scott explains what brokers and producers need to know about surplus lines as well as the trends in the industry. He also shares tips for the new workforce interested in entering this type of career.
“A surplus line is an insurance product designed for specific risks or needs outside the general admitted market.” – Scott Wede
Today on SpotOnInsurance:
What are surplus lines compared to the retail side of insurance?
- Trends that are currently growing in the industry
- How the surplus industry addresses various challenges
- The new challenges he sees as more people are entering the field.
- Chief complaints dealing with new people entering into the field.
- Top things insurance filers need to know.
Key Takeaway:
- There is a lack of talent to bring brokers, underwriters, and service employees within the industry. It's mostly an education issue.
- You can't blame the people coming in because they don't know what they don't know.
Resources Mentioned:
- American Association of Managing General Agents
- National Association of Professional Surplus Lines Offices
Connect with Scott
- Surplus Lines Stamping Office of Arizona
- Independent Insurance Agents and Brokers of Arizona
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Maegan DiLoreto is the Communications & Training Coordinator at Surplus Lines Stamping Office of Texas (SLTX). SLTX records all the surplus lines insurance policies written in the State of Texas, monitors financial conditions of insurers that write this form of policy, and provide education and training materials in the industry. Surplus lines are a type of specialty insurance that may be used as a medium for high risk consumers, increased capacity needs, or simply be part of emerging markets.
In this episode, Maegan shares a brief description of the various terms, conditions, and legal requirements if an entity wishes to avail of surplus lines. She also explains the importance of monthly reporting and the difference between stamping fees and service fees.
“If they don't meet one of those exemption requirements, then they have to put forth the diligent effort in trying to find coverage first in the admitted market.” – Maegan DiLoreto
Today on SpotOnInsurance:
-
The difference between a policy and a binder.
-
What does "policies are continuous until cancelled" mean?
-
The difference between authorized and eligible and some exemptions.
- The difference between Stamping fees and service fees
- What are installments when it comes to surplus lines?
Key Takeaway:
- The binder is just a temporary policy. Once a policy is in effect, a binder is no longer needed.
Connect with Maegan
-
Surplus Lines Stamping Office of Texas
-
Phone: 512 531 1880
- Email: techsupport@sltx.org
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
***Connect, Learn, Share***
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Sabrina Slater has a background in compliance and recurring services which helped her develop the perfect skillset needed for managing ILSA’s Annuals and Corporate services. Tameika Johnson is the company’s Annuals and Corporate Supervisor and helps clients with corporate tax filings and annual returns.
In this episode, Sabrina and Tameika share the importance of updating company information and the possible legal problems a company can encounter if incorrect information is provided. They also briefly explain the difference between a shareholder and a stock.
“If we don't have the correct information up front, it's just a whirlwind effect.” – Sabrina Slater
Today on Spot On Insurance:
- Why it's important to update corporate structure, officer, and shared information.
- The main types of organizational structure and how they differ from the federal filing structure.
- How can organizational structure affect your filing?
- Difference between a calendar and fiscal year.
- The different types of titles and the differences between them.
- What are shares and what information do you need from a client about their shares?
- Why is it important to know client share information?
Key Takeaway:
- It’s important to let your corporates and annuals team know your updated client information to prevent penalties.
Connect with Sabrina
- Email: sslater@ilsainc.com
- Phone: 254-729-6109
Connect with Tameika
- Email: tjohnsonn@ilsainc.com
- Phone: 254-729-6119
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Joel Leviton is an intellectual property attorney and is part of Stinson Leonard Street, a company whose goal involves providing services on litigations and sophisticated transactions to both individual and large companies. Joel in particular helps brand-oriented companies protect, create, and develop their good brands. He makes sure his clients are guided with expert hands when it comes to trademark and copyright laws in the United States and across the globe. Because of this, he is considered an expert in handling trademark, copyright, and domain name disputes.
In this episode, Joel joins us to talk about how to protect and properly use brands and other intellectual property considerations. He’ll also share the different types of intellectual property and give a brief description on their similarities, differences, and the laws that govern them.
“Intellectual Property ownership can really put a business at a competitive advantage.” –Joel Leviton
Today on Spot On Insurance:
The five different types of intellectual properties that exist.
- Copyright issues most businesses will run into.
- Can copyright apply to a compilation of different information?
- Unique areas of copyright that apply to business.
- Can copyright apply to ratings and scores?
- The difference between trademarks and copyright.
- Benefits of registering your trademark.
- What business owners need to be mindful of when it comes to trademarks.
- Why words are preferred from a legal standpoint when making a comparison.
- What businesses need to keep in mind when making claims.
- What is "puffery" and why it doesn't have to be supported.
- How effective is legal action in stopping copyright and trademark infringement?
- What you need to file a copyright lawsuit.
Key Takeaway:
- Your trademark is really a symbol of your reputation.
- A shirt is a shirt, but the right trademark can make it more marketable and profitable.
- When you own the copyright, you have exclusive rights to make copies of the copyright at work, revive it and create derivative works.
Connect with Joel Leviton
- Stinson Leonard Street
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Dante Disparte is the CEO and Founder of Risk Cooperative, a risk, capital, and strategy management firm with a primary focus on innovation, market expansion, and mid-market opportunities. Dante is a specialist in risk reduction and strategy by creating and delivering comprehensive risk solutions on a global scale. He was recently selected as one of the Top 40 Leaders Under 40 by the Washington Business Journal and is also the co-author of Global Risk Agility and Decision Making.
In this episode, Dante will answer the age-old question: Can you be compliant and still be creative? He’ll also share his wisdom when it comes to his “Broker Credo” and the four forces that govern insurance businesses.
“There has to be a real acceptance of failure for imagination to thrive.” –Dante Disparte
Today on Spot On Insurance:
- What is risk cooperative?
- Can our heavily regulated insurance industry have room for innovation?
- The four forces that govern the way you operate an insurance business.
- Why is regulation and compliance so important?
- How does ethics and imagination come into play when it comes to compliance?
- Are regulation and imagination tradeoffs?
- How ethics applies to insurance businesses.
- What is the "Broker Credo"?
- Is it possible to be imaginative, but not lose the regulation, compliance, and ethics?
Key Takeaway:
- You start to really harm your opportunity to grow a company in this business if you don't anchor it from the very beginning in a platform that is regulated and compliant.
- The people with whom you trade are your first and last line of defense in this type of industry.
Resources Mentioned:
- Global Risk Agility and Decision Making book by Dante Disparte
Connect with Dante Disparte:
- Risk Cooperative
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Robert Sargent is the Founder and President of Tennant Risk Services, a national wholesale insurance broker and underwriting manager that focuses on professional liability as well as specialty insurance coverages for all forms of businesses. He is also a past president of the National Association of Professional Surplus Lines Organizations (NAPSLO), and the author of the Specialty Insurance blog.
Robert joins me to discuss what a cyber risk is, how it can damage you and your business, and explain how to equip our companies with the right kind of protection against cyber-attacks.
“Exposures have evolved beyond just a data breach.” –Robert Sargent
Today on Spot On Insurance:
- What is cyber risk insurance?
- Why is cyber risk insurance important?
- What kind of changes are we seeing in cyber-attacks?
- How does Robert Sargent define cybercrime?
- Real world examples of cybercrime
- What is ransomware and why is it trending?
- What kind of coverage is needed for cyber risk?
- The difference between data breach coverage and cyber risk insurance.
- How do you get cyber risk insurance?
Key Takeaway:
- Ransomware is the fastest growing form of cyber-attack. Not only can it hold your data, but also your business for ransom.
- You need a comprehensive policy to protect yourself from cyber risk.
Resources Mentioned:
Specialty Insurance Blog
Connect with Robert Sargent
Tennant Risk Services
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Dan Maher is the Executive Director and Chief Operating Officer of the Excess Line Association of New York (“ELANY”). The Association is a statutorily created industry advisory association responsible for facilitating and encouraging compliance with New York’s excess line laws. He is also an attorney licensed to practice in the states of New Jersey and New York and a number of federal courts. Prior to joining ELANY in 1997, he was Senior Vice President and General Counsel with Lancer Insurance Company for fifteen years.
Dan is a registered lobbyist in New York State and has influenced a number of changes to New York State insurance laws. He holds the professional insurance designation Associate in Surplus Lines Insurance (ASLI) and is a frequent speaker on current issues affecting the property/casualty and Surplus Lines Insurance industry.
Dan joins me today to share his ideas on how to not incur the wrath of regulators. We discuss compliance and how to avoid fines. He also provides some concrete examples with regards to regulatory matters, mainly from his own experience.
“Unfortunately, there's often a lack of training in the area of compliance.” –Dan Maher
Today on Spot On Insurance:
What you should watch for when it comes to fines and disciplinary actions.
- Why you need to be properly licensed for admitted and non admitted businesses.
- The questions you need to ask when it comes to compliance.
- One of the biggest areas where he sees fines in NY.
- Simple issues that often cause problems in compliance.
- What is the zero tax return?
- How much you could pay in fines.
- The role of consumer complaints in the process of regulation.
- What a notice failure is.
Key Takeaway:
- You don't want to anger regulators by not responding
- It's not just about the money you're fined, it's where it can lead your business.
- You can get fined for not revealing that you've been fined.
Connect with Dan Maher
- ELANY
- Phone: 646-292-5500
- Email: dmaher@elany.org
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Michael Gay is an insurance program executive with over 30 years of experience in property/casualty insurance design. He is also an insurance educator who taught property/casualty courses for more than 25 years, an accomplished author of course guides and classroom workbooks, and a risk manager with experience in identification, analysis, evaluation, and treatment of loss exposures for complex risks.
Michael joins me today to share what it means for agents to get advanced degrees and pursue a higher education. He shares his experience as someone who continued his education as well as his experience as a professor. He also talks about the benefits and drawbacks of getting advanced degrees, and why he says the pros far outweigh the cons.
“I believe if you're serious about this business, you have to go beyond your basic license and education.” –Michael Gay
Today on Spot On Insurance:
- What's best: Online or in-person classes?
- The benefits and drawbacks of advanced insurance degrees.
- Why different states have different requirements when it comes to classes.
- How Continued Education helps avoid the "lowest price" trap?
- Identifying which Continued Education course is right for you.
- How choosing the right course gives you a competitive edge?
- Tips on how to find the right course provider.
Key Takeaways:
Advance degrees show clients you're serious about your business.
- A more sophisticated customer seeks agents who have advanced degrees.
Connect with Michael Gay
- Michael Gay Consulting
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Pete Thrane is a partner with the law firm of Stinson Leonard Street. He helps insurance businesses manage the legal, regulatory and corporate law challenges of their business. Pete handles insurance transactions, formation and dissolution of insurers, product distribution mechanisms, governance matters, product development, producer licensing and compliance matters.
He joins me today to share his thoughts on dealing with regulators. He dives in on how to cooperate with regulators and shares some of his tips and strategies on how to make sure regulators don't contact you unless they have to.
“It is easy to forget, in the course of our everyday life, that we are in an incredibly regulated business, one that really involves every aspect of the law.” –Peter Thrane
Today on Spot On Insurance:
- The regulations involved in insurance agency licensing.
- What insurance regulators are fundamentally all about.
- His general approach when dealing with regulators.
- The best way to get the regulator out from underneath the business of the licensee.
- What is regulatory reputation?
- The proper approach when regulators are calling upon two different categories: Agents licensing status and enforcement matters.
- When should you involve a lawyer?
- The general process regulators use to investigate and close a matter.
- If a disciplinary action is taken, how does that impact regulators in other states?
Key Takeaways:
- If you treat your customers well, you will not hear from regulators.
- Regulators don't respond well to adversarial approaches.
Connect with Peter Thrane:
- Stinson Leonard Street
- 612-335-1779
- thrane@stinson.com
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Roger Sitkins is the CEO of Sitkins Group, Inc. He has trained and mentored thousands of professionals including producers, CEOs, sales managers, and customer service representatives. He is known as the nation’s top insurance agency results coach, and is often invited to be the keynote speaker for national, state, and local events. He is also Rough Notes magazine’s most widely read columnist.
Roger joins me today to share his wisdom on starting an agency. He provides a brief summary of what he calls The Seven Principles of Building an Agency and his personal experience regarding each of the seven principles.
“If you're not hearing 'wow' from your prospects, then you have fallen into that bucket known as 'an insurance agent'.” – Roger Sitkins
Today on Spot On Insurance:
- The seven principles of building an agency.
- Why having the right people is the first step in starting an agency.
- What does it mean to have a culture of accountability?
- What is the “unique selling proposition” of an organization?
- The effect of professionalism on building an agency.
- The number one complaint most consumers have about the agents they deal with.
- The percent of automation many agencies use today.
- Should you fix your processes even after you've already established your agency?
- The benefits of having a good pipeline process.
- The two types of perpetuation.
Key Takeaways:
- It's not what you make, but what you keep.
- Not every client is a great client.
- Everyone leaves their business whether they plan to or not.
Connect with Roger Sitkins
- The Sitkins Group, Inc.
- 1-877-SITKINS
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Donald Riggin is an accomplished author, speaker, and the President of Art of Captives, LLC, a company whose business involves alternative risk financing techniques. He also provides public and corporate sector clients with advanced risk financing advice and services. His services include alternative risk facility implementation, review services, and captive and self-insurance feasibility analysis.
Donald joins me to share his knowledge on captive insurance compliance. He explains how to be compliant, his recommendations for beginners, and the risks and rewards of having a captive insurance.
“There is a myth that says that agents and brokers go away when a captive is formed. That is patently false.” – Donald Riggin
Today on Spot On Insurance:
- What is a captive insurance?
- What domiciles are and what constitutes a domicile?
- What he recommends when forming a captive for the first time.
- The unique compliance requirements for captive insurance.
- The role of agents and brokers.
- Advantages and disadvantages of being a captive.
- The major differences between Offshore vs Onshore domiciles.
Key Takeaway:
- Offshore domiciles will do almost anything as long as you convince them you know what you’re doing.
Connect with Donald Riggin
- Contact number: 978.594.8762
- Email: artofcaptives@icloud.com
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Marsha Egan is a life coach, success strategist, and the owner of the established professional coaching firm The Egan Group, Inc. Her company is built around transforming leaders, inspiring confidence, and achieving the right results. She has a long list of achievements that include being named 2006 Pennsylvania’s 50 Best Women in Business, Insurance Person of the Year Award, and has performed over 200 speeches and keynotes to over 50,000 people.
Marsha joins me today to share her wisdom on promoting a culture of creativity. She talks about why creativity is important, how to properly inspire your workers to be creative, and how to keep them engaged and willing to be creative even in ordinary tasks.
“Everyone involved wants to see creativity, however there are things that are done that squash it.” – Marsha Egan
Today on Spot On Insurance:
- Why engagement is important.
- How communication within the company can improve creativity.
- What is "positive focus?”
- The difference between encouraging creativity and encouraging a culture of creativity.
- How to avoid an organizational culture that discourages creativity.
- Why you should sometimes utilize an idea that didn't work before.
Key Takeaway:
- Asking questions and listening to their response can help improve engagement.
- Reprimanding people for being creative could potentially discourage creativity in the future.
Connect with Marsha Egan
- Website: Marsha Egan
- Podcast: Great Points
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Paul Buse is the President of Big “I” Advantage, the holding company for the for-profit operations of the Independent Insurance Agents & Brokers of America (IIABA), the largest insurance agent trade association in the United States. Paul is an insurance professional with experience in alternative distribution of insurance risk financing approaches and program business. He specializes in insurance liability, property and casualty, distribution, and product design among other functions.
Paul joins me today to share his knowledge on what it means to be a licensed agent, the effects of technology on licensing laws, and why it’s important to know the difference between admitted and nonadmitted businesses. He also covers topics on different state laws on licensing fees and taxes, as well as the problems encountered by producers when doing business in different states.
“As soon as you put something on the internet, someone from anywhere could come across that and then ask you to place coverage for them.” – Paul Buse
Today on Spot On Insurance:
- Serving across state lines once you start conducting business online.
- Issues producers face when they cross state lines to do business.
- Ways states collect licensing fees and taxes.
- Has technology changed the way fees and taxes are enforced?
- The negative effect of the internet on licensing laws, regulations, and statutes.
- How careful you should be when it comes to licensing and commissions.
- Difference between admitted business and non-admitted business.
- How do you find out if a business is admitted or non-admitted?
Key Takeaway:
- Insurance is regulated on a state by state basis.
- Know what you're selling and know the intermediate you're dealing with.
Connect with Paul Buse
Website: Independent Insurance Agents & Brokers of America
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Johnny Wang and Steve Cosentino are partners at Stinson Leonard Street, a company that provides services on litigations and sophisticated transactions to clients both individual and large companies. Johnny is an attorney whose responsibilities mainly cover domestic and international labor and employment with Stinson. Steve is focused on transactions related to technology, particularly on data center services, software licensing, data security, advertising, and outsourcing among other functions.
Johnny and Steve join me today to give us a brief, yet informative overview of what it means to be a “gig economy worker” as well as the different legal practices involved compared to traditionally hired workers. They also talk about corporate responsibilities of companies who hire gig economy workers specifically on software and data security.
“Independent contractors need to be able to conduct their business and operate freely and independently.” – Johnny Wang
Today on Spot On Insurance:
What a restrictive covenant is and the legal implications behind it.
- What do restrictive covenants look like in practice?
- What's an arbitration agreement and how does it link with the gig economy?
- The benefits and drawbacks to using arbitration agreements
- The legal issue regarding classification when it comes to gig economy workers.
- Legal issues around data security surrounding gig economy workers.
- Is a company legally responsible for a gig economy worker's data security?
- IP ownership and social networking account issues for gig economy workers.
Key Takeaway:
- The more restrictions you put towards independent contractors, the easier it is for someone to come along and try to sue you for misclassification issues.
Connect with Jonny Wang
Website: Stinson.com
- Phone: 259.4531
- Email: wang@stinson.com
Connect with Steve Cosentino
- Website: Stinson.com
- Phone: 691.2450
- Email: cosentino@stinson.com
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Attorney Robert Tomilson is a partner at Clark Hill, an insurance law practice based in Philadelphia, PA. He serves as an insurance subject matter expert in the areas of insurers, reinsurers, and intermediaries in litigation and regulatory investigations. He also serves as an advisor to the American Law Institute’s Restatement of the Law of Liability Insurance as well as an adjunct professor of insurance at Drexel University School of Law.
Robert joins me today to discuss the differences between MGAs and MGUs, the various challenges associated with each, and the risk factors to consider when starting a new innovative insurance agency. He also shares tips on how new insurance agencies can leverage regulations to speed the process of starting their organization.
“The regulations are not always transparent for how to comply.” -
Robert Tomilson
Today on Spot On Insurance:
- What are MGUs and MGAs
- How MGUs differ from MGAs
- Challenges of getting set up as an insurance provider in multiple states
- The risks of innovation in the insurance industry
- The importance of understanding what the laws and regulations require
- Why it may be better to get licensed in a different jurisdiction
- Ways to use the regulations in your favor as a startup insurance agency
Key Takeaways:
- Be aware that the insurance industry tends to operate slowly and cautiously.
- Hire knowledgeable staff.
- Have the judgement and experience to make good use of the regulations.
Connect with Robert Tomilson:
www.clarkhill.com
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Marsha Egan is the founder and CEO of The Egan Group, Inc., an award-winning professional coaching firm focused on helping entrepreneurs and executive leaders achieve their personal, professional, and organizational goals. She is the author of several books, including Inbox Detox, Great Starts for Great Meetings, and The Silent Signals of Success Journal.
Marsha joins me today to discuss the three ways organizations and leaders can infuse ethics into their business and the best ways to motivate ethical behavior. She also explains the difference between staying legal and staying ethical, and the value of case studies to your organization.
“Values equal culture.” - Marsha Egan
Today on Spot On Insurance:
- What is “passive ignorance” and how to avoid it in your business
- The benefits and drawbacks of “compliance-based” ethics
- The difference between legal behavior and ethical behavior
- How “values-based” ethics helps motivate your team to do the right thing
- Engaging millennials in value-based ethics
- How to ensure everyone at your organization understand how to put ethics into action
- The value and structure of case studies.
Key Takeaways:
- Laws are usually on the edge of ethical behavior. Just because something is legal doesn't mean it's ethical.
- Doing things that help people want to be ethical and want to do the right thing is the target.
Resources Mentioned:
Infusing Ethics Into Your Organization article by Marsha Egan
Connect with Marsha Egan:
- Website: MarshaEgan.com
- Podcast: Great Points Podcast on iTunes
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Kristy has achieved numerous award nominations while at Insurance Licensing Services of America, including Employee of the Year, Supervisor of the Year, and Manager of the Year. She has recently received her SILA-A Designation. Get the inside scoop from Kristy Starling Roberts, a Manager for the insurance industry’s premier Licensing and Compliance Service Provider, ILSA. Kristy manages a team of specialists handling initial licensing, renewals, sanctions notifications, appointments and other compliance tasks to keep producers in compliance.
Today, she joins me to share her insight on some of the common pitfalls that many insurance agencies face when changing their corporate name, how to avoid getting penalized by the Departments of Insurance, and what you need to know to stay compliant with your state’s Department of Insurance.
“It’s better to do it right than to have to do it over.” - Kristy Roberts
Today on Spot On Insurance:
- Why changing your agency’s tax ID creates challenges within the Departments of Insurance?
- How to identify your state’s requirements to change your agency’s name.
- What are the costs associated with corporate name changes?
- What is the appropriate timeframe for reporting your name change to non-resident states and are there exceptions?
- Administrative actions and penalties for failing to notify the Departments of Insurance about your agency name.
- Why it’s important to request producers to update your business name and address.
- Updating registrations with Stamping offices for surplus line brokers.
- The average turnaround time for company name approvals.
Kristy’s Tips for Corporate Name Changes:
- Visit your state’s Department of Insurance website.
- Check for Name Approval
- Base your name on your state’s name approval criteria
Key Takeaways:
Understand the state’s requirements for changing your agency’s name.
- Report your corporate name change within a reasonable time - typically within 30-45 days.
- Be honest about oversights and clerical errors with the Departments of Insurance.
Connect with Kristy Roberts:
Phone: (254) 729-6180
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Paul Smith is one of the world’s leading experts on organizational storytelling. He has worked with Accenture and Procter & Gamble in the past, lending them his expertise on communications. Currently, Paul is a keynote speaker, storytelling coach, and is the best-selling author of the books Lead with a Story, Sell with a Story, and Parenting with a Story.
Paul graced us with his presence to share his expert insights as he dissects the link between great story telling and selling, which he discussed in depth in his best-seller book Sell with a Story. The book deep-dives on the elements of awesome storytelling to capture attention, build trust and closing sale.
“As far as knowing which stories to tell, or how to find those right stories, I always say start with the end in mind. What do you want your audience to think, feel, or do, after hearing your story?”
- Paul Smith
Today on Spot On Insurance:
- Whatthe term story really means based on its elements.
- What is a sales story, and the difference between a sales pitch and a sales story.
- How the story behind a photo of a pig in the ocean compelled him to buy that artwork.
- The three components that separate a great sales story from the average ones.
- Choosing the right story to tell through an eight-point checklist in the story structure.
- The three places to look for stories worth telling.
- How to effectively tell stories using data and numbers.
- Learning how to tell stories that can help with selling.
Key Takeaways:
- Facts embedded in stories are easier to remember.
- Effective story-telling influences decision-making.
- Begin with the end in mind.
- Tap through moments of success, failure, and epiphany for greater impact.
- Numbers and data can be interesting stories by sharing the journey to discovery with your audience.
- Storytelling can be learned with proper guidance, tools, and practice.
Connect with Paul Smith:
- leadwithastory.com
- Paul Smith | Lead with a Story | Speaker, Author and Consultant
Sell with a Story book by Paul Smith
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Steve Cosentino graduated from the University of Missouri – Kansas City School of Law with his Juris Doctor degree in 1997. He immediately began working at Stinson Leonard Street, LLC, where he currently serves as the company’s Chairman of the Intellectual Property and Technology Division.
Steve joins me today to discuss one of the hottest topics circulating throughout the insurance industry: key legal issues that disruptive technology creates. He shares examples of new technology currently affecting the industry and we discuss how robo advisors and user interactive technologies have impacted the industry, and things you should consider before implementing certain technology services within your company.
“There are repercussions to not handling a licensing component correctly.” –
Steve Cosentino
Today on Spot On Insurance:
- How user interactive technology is changing the way users view and understand information about their insurance claims and policies.
- What telematics are and how these devices are impacting the way consumers and insurance companies communication information and report incidents.
- The use of mobile app technology to allow policy holders to submit claims.
- Big Data and mobile technology use throughout the industry causing challenges and legal concerns for consumers and companies to protect their data.
- How robo advisors are making an impact on the industry.
- Data collection, security, and privacy issues caused by disruptive technology.
- Startup compliance issues.
- What robo advisors are and their effects on liability issues.
- How disruptive technology affects licensing issues.
Connect with Steve Cosentino:
- Website: Stinson.com
- Phone: (816) 691-2450
- Email: cosentino@stinson.com
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Bill Wilson is the founder of Insurance Commentary, a blog featuring coverage, analysis, and opinions about property and casualty insurance issues. Before launching his website, Bill served as the Associate Vice President of Education and Research at the Independent Insurance Agents and Brokers of America. He was also the founder of the Big “I” Virtual University, where he served as Director for over 17 years.
Bill joins me today to share his thoughts on the highly controversial topic of “insurance as a commodity” myth, which he wrote about in his article, The 6 Worst Things to Happen to Insurance in the Last 50 Years and was published in the December 2016 issue of IA Magazine.
“It’s a perception by consumers that all insurance is the same” – Bill Wilson
Today on Spot On Insurance:
- Why it is important to educate consumers on the differences between insurance policies.
- Tips for insurance carriers to refocus on insuring consumers instead of competing on price.
- How regulators can help overcome the insurance commodity myth
- How insurance agents can help consumers realize the true value of customer service, expertise, and benefits coverage.
- What consumers need to know about their policy coverage.
Key Takeaways:
- Don’t compete on price. Compete on consumer coverage and benefits.
- Educate yourself and your customers about their policy coverage.
- Take time to read your insurance policy and ask questions.
Resources Mentioned:
- www.insurancecommentary.com blog by Bill Wilson
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!
Today, I’m joined by Ted and Arleen Taveras, co-founders, CEO and COO of Insurance Licensing Services of America (ILSA) and Spot On Insurance. Ted and Arleen have worked in the financial services industry for over 20 years with a strong focus on insurance, commercial banking, and investment banking.
Ted and Arleen join me today to share the story and mission behind Spot On Insurance, as well as the innovative, game-changing products, services, and resources that you can expect from the company and podcast. They also explain how their services can help new insurance agencies and consumers throughout the United States and Latin America.
“We are going to be filling in the blanks for insurance agencies and consumers.” – Ted Taveras
Today on Spot On Insurance:
- How ILSA got started, it’s services, and the company’s turning point in 2008
- The inspiration behind the launch of Spot On Insurance
- Education on licensing and regulatory compliance in the United States
- Resources and expert interviews on the industry’s best practices available in English and Spanish
- Regulators discussing how to avoid getting tagged or fined
- Bringing together insurance professionals, agency principles, compliance officers, agency administrators and attorneys to discuss the laws and regulations in the industry
- How Spot On Insurance can help consumers learn more about insurance compliance
- Corporate license filing requirements training and case studies
- Non-admitted Surplus Lines industry tax filings information
Resources Mentioned:
- The Great Game of Business book by Jack Stack
This episode was brought to you by…
Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
Connect, Learn, Share
Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on iTunes and share your favorite episodes with friends and colleagues!