At a local Mastermind meeting we had recently, it was called Falling in Love with Inbound Leads, An Insurance Valentine's Day Proposal of Lust.
Ryan, for about the next 20 to 30 minutes, lays out exactly how he processes 3 to 400 leads a month. And when I say that, he lays it down step by step. I encourage you to listen to this and by the end of it, you're gonna want to send it to other people in your staff and your team, specifically those who are dealing with inbound leads.
It is a jewel. This is an hour-long meeting, but we're just giving you the juice, the meat, the succulent flavor. Enjoy!
Feb 14, 2023
30 min
Most of your competitors out there are throwing mud against the wall to see what sticks. They slap together a "bare bones submission" and blanket the marketplace. Those agents do not experience great results and they tend to have smaller Books of Business.
In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht explains how (and why) to win more clients by overcoming mediocrity and being the more professional insurance advisor, compared to your competition.
Episode Highlights:
Charles tells the story of how he first got into the insurance business. (5:02)
Charles discusses the concept of the inferior submission. (7:03)
Charles explains the importance of having the entire process written before meeting with a prospect or current client. (11:15)
Charles explains why blocking the market is not in the best interest of insurance. (13:20)
Charles believes that to be better than a “block the markets” broker, brokers must be able to explain to the insured why they are better. (20:48)
Charles explains why many workers' compensation insurance underwriters will not or cannot quote a prospect who does not offer health benefits to their employees. (23:16)
Charles mentions that bare-bones submissions rarely receive quotes from underwriters. (25:31)
Charles explains the importance of educating the prospect on how a bare-bones submission actually harms them. (28:29)
Charles mentions that if brokers follow the process he highlights, they will receive significantly more broker record letters than they have in the past. (31:47)
Key Quotes:
“Put together a submission that will knock the socks off of your underwriter. A bare bones submission handcuffs the underwriter to not be able to work with another agent, maybe even agents that they would choose to work with. ” - Charles Specht
“The insurance industry is not set up for your success. The insurance industry is set up for your failure. It is not set up in a way that is going to help you in the trust process with your prospects.” - Charles Specht
“We need to educate the prospect on how a bare bones submission actually hurts them, how it hinders them, we need to explain to the insured that we are not going to be doing that on their behalf.” - Charles Specht
Resources Mentioned:
Reach out to Charles Specht
Permission Network Insurance Agency, Inc.
Feb 13, 2023
35 min
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Tamron Manning, Agency Owner of Integrity Insurance. Tamron discusses his journey from being an athlete to starting his own insurance agency, as well as the opportunities that arise in the future for Integrity Insurance.
Episode Highlights:
Tamron shares about his background playing basketball and how that experience has helped him as he moved into the insurance industry. (2:382)
Tamron mentions that he has been running his business on his own since October 2021 and that he is not currently working with a team. (12:02)
Kyle believes that being a coachable person is a lesson he learned early in his high school basketball career that has stuck with him. (14:06)
David explains why he preferred not to go to appointments by himself when he first started his career and how it has benefited him. (18:18)
Tamron mentions that the biggest eye-opening part of starting his own agency was how detailed the processes needed to be, and shares how various podcasts helped him understand what processes and systems he needed to run his agency. (27:47)
Tamron mentions that he plans to attend commercial training and learn about the commercial side so that he can add commercial lines to his agency in the future. (34:56)
David advises listeners to figure out their hourly rate as early in their careers as possible, as well as what they are willing to work for and what they are not. (40:26)
David believes that if you identify your ideal prospect, construct your marketing systems around that prospect, and are effective at marketing, you should only attract that prospect. (45:01)
Tamron encourages individuals to build things with an end goal in mind. (51:59)
Tweetable Quotes:
“Luckily, people like David and Bradley and other people, these podcasts that kind of pan out these different ways you can go, it was a big help for me because I was able to understand certain processes and what processes I needed, what systems I could use, that could help me build some stuff out.” - Tamron Manning
“I haven't nailed down a niche in commercial or figured out what I like or any of that stuff. So, I want to do some training and some learning about commercial first, but that's my next step is to add a nice commercial side of the book.” - Tamron Manning
“If you want it to be profitable, don't settle for a peanut butter and jelly sandwich, when you have a steak waiting on you at the end of this. Don't do the little things that'll just feed you for just a little bit. Look at the long game man. I did that with basketball, I do it in my business, I do it in my relationships, there's a long play to everything.” - Tamron Manning
Resources Mentioned:
Tamron Manning LinkedIn
Integrity Insurance
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
Feb 13, 2023
1 hr
In this episode, James talks with John Loeber, and Shea McNamara from Limit.
To learn more about Limit, visit https://www.limit.com/.
Visit our website to join our email list, get the scoop on our LIVE coaching calls and never miss an episode: https://www.agencyfreedom.com
Connect with Agency Freedom Podcast on Facebook at the Agency Freedom Podcast group: https://www.facebook.com/groups/agencyfreedom
Email us at podcast@agencyfreedom.com with ideas, questions, complaints or your favorite grilling recipe.
Episode Highlights:
John explains that Limit is a digital wholesale insurance brokerage that innovates to bring retail brokers and independent agents insurance coverage quicker, smarter, and cheaper. (3:02)
Shea mentions that their team is made up of proper tech masters from the big tech shops of the world who know how to code, develop, and build, and also world-class insurance professionals who have been in the industry for 15 to 20 years. (4:24)
Shea discusses the responsibilities and backgrounds of each Limit co-founder, and how they came up with the idea for Limit. (7:38)
Shea explains how Limit differs from other companies and why they emphasize agent empowerment. (15:57)
Shea explains what the Limit Platform is and how it saves agents time. (18:22)
John mentions that Limit can compete on commission and that technology allows them to automate a large portion of the type of behind-the-scenes work (29:30)
Shea explains that they are developing an excellent ability to analyze price and market trends by product, company size, industry, and by amount of limit being purchased. (36:17)
Shea believes that one of the unique aspects of working on a technical product is that it constantly reminds us that we are still in the early stages of quicker, better, and cheaper insurance transactions. (39:50)
Shea shares their thoughts on the possibility that embedded distribution provides the marketplace, and what Limit is going to do to help merchants who want to explore more efficient ways to provide solutions to their clients. (44:00)
Key Quotes:
“We believe that unfortunately, the agent who's the best at building those relationships, and trust and understanding, they're inundated with compliance and regulation and repetitive rope business processes. And we want them to spend all their time and energy building trust and building relationships and building custom insurance programs to protect businesses across the country.” - Shea McNamara
“Agents are our first and foremost, our most important customer. Our second most important customer is our carrier partners. ” - Shea McNamara
“One of the special things about getting to work on a kind of technical product is that it always underscores everywhere that these are just like the early days, right? These are the early days of faster, better, cheaper insurance transactions.” - Shea McNamara
Feb 10, 2023
52 min
In this episode of The Power Producers Podcast, David Carothers sits down with Ryan Deeds of Ennabl to discuss the benefits of ChatGPT, as well as how important it is to understand the limits of this kind of technology.
Episode Highlights:
Ryan mentions having spent 100-150 hours with ChatGPT, in both programming and utilization. (3:07)
David believes that the hype about ChatGPT is similar to that of the early days of the internet. (4:33)
Ryan discusses that people may generate content using ChatGPT, but that this is a secondary or tertiary utilization of the tool for him. (6:28)
Ryan explains that ChatGPT is an unlimited source of learning as long as you understand the limitations and are verifying and validating information. (10:41)
Ryan shares that from the API documentation, after ChatGPT is set to a certain degree of creative sensitivity, it doesn't even realize it's telling you a lie. (13:50)
Ryan encourages individuals to be educated enough to make decisions on where the ChatGPT fits into their lives. (16:52)
Ryan discusses the key components of ChatGPT and why producers should use it as much as they can. (18:31)
Ryan mentions that he fears that someday, ChatGPT will have a paywall or be privatized and he never wants to not have access to this technology. (20:32)
Tweetable Quotes:
“I don't think that if you are using content marketing to build your personal brand, that anybody or anything other than you should be writing that content and pushing it out.” - David Carothers
“Tools are just those, the better you understand it, the better you understand its limitations, the better you can see where it fits into your life.” - Ryan Deeds
“I'm working with a couple of the large agencies, CEOs, and they are on fire about this from helping validating producers be better faster, to helping their account managers understand all kinds of information all over the place.” Ryan Deeds
Resources Mentioned:
Ryan Deeds LinkedIn
Ennabl
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
Feb 10, 2023
24 min
In this episode of Power Women In Insurance, Teresa Kitchens sits down with Brittany Miranda, Marketing and Commercial Insurance Agent at All Nevada Insurance - Arbeli Agency. They talk about how she has only been in the industry for three years but she has become an invaluable member of The Arbeli Group and how she serves other agencies along the same path.
Episode Highlights:
Brittany discusses her experiences before entering the insurance industry and what led her to The Arbeli Group. (1:27)
Brittany mentions that she likes marketing but didn't realize how much she loves it until she got into insurance. (5:23)
Brittany explains how the Monday.com project management software has changed her job and the way she interacts with clients. (8:50)
Brittany discusses how using Monday.com helped her clients settle in and helps the agency owner keep track of what their team is doing. (12:55)
Brittany mentions that as a member of the sales team, the biggest way a project management software has benefited her is that she can keep notes on how to do specific sales procedures within the software. (17:27)
Brittany mentions she has been in the business for three years and began as someone who handled phones and completed a few service requests before growing into the marketing and sales role that she is now. (34:27)
Teresa explains that one of the benefits of being an independent agent is having the freedom to make your own decisions. (38:34)
Brittany mentions that having an agency owner that is flexible and listens to her wants has only helped her improve. (39:19)
Brittany explains how she communicates with Cassidy Arbeli, the agency owner about potential development opportunities for the agency. (42:35)
Brittany discusses what it's like to be completely remote and what she enjoys about it. (47:39)
Brittany shares how important it is for agency owners to create a safe space for their employees, and how The Arbeli Group has created that safe space for her. (50:14)
Key Quotes:
“I do dabble in the sales when I'm able to. And the best way that it has helped me is that I can actually keep notes in monday.com on how to do certain sales processes.” - Brittany Miranda
“I feel like with people who do want to grow and have that mindset of wanting to try new things, it’s helpful having someone who's flexible above you to allow you to explore that.” - Brittany Miranda
“If agency owners can just create a safe space for their employees, I feel like it makes all the world of difference.” Brittany Miranda
Resources Mentioned:
Brittany Miranda LinkedIn
All Nevada Insurance - Arbeli Agency
Contact Teresa Kitchens
Sterling Insurance Group
Feb 8, 2023
56 min
In this episode of The MVP Podcast, Mitch Gibson sits down with Certified Financial Planner, Erik Garcia to discuss how important it is to have a strong financial vision and plan in place. Erik also breaks down the repercussions you could face by not implementing a financial vision/plan. If you are young and new to the industry, don't wait to create your vision and plan. It will pay off for you in the long run
Do you hate budgeting? Don't know how to budget? Stressed out financially? Don't have a vision in place?
Erik has made it easy to get started with your financial vision and plan for the future.
For MVP Podcast Listeners, you can sign up for Erik's "Budgeting Made Easy" Course by using Promo Code: "mvp23" to receive $25 off the course.
Click here: https://www.plan-wisely.com/budget/
Use code: "mvp23" at checkout
Price when using promo code: $55.00
Episode Highlights:
Erik discusses the difference between a plan and a vision. (4:50)
Erik explains that it is important to have a clear vision of where you want to go financially. (9:48)
Erik mentions some common financial mistakes that insurance agents make, one of which is living on borrowed money. (13:02)
Erik believes that individuals should not borrow money for anything that does not have a justified return on investment. (17:23)
Erik shares another common financial mistake of agency owners, which is spending too much money on their houses. (19:48)
Erik mentions that you can’t expect to accumulate in 3-5 years what took another agency owner 10-15 years to achieve. (21:37)
Erik explains that another common mistake that agency owners make is failing to track their spending. (22:44)
Erik believes that as people become conscious of where their money is going, they begin to make different buying decisions. (26:36)
Erik announces that MVP Podcast listeners will get a discount on the Budgeting Made Easy Course by using coupon code “mvp23”. (30:09)
Erik explains that the most common mistake that insurance agency owners or producers make is failing to save enough for retirement. (31:59)
Erik discusses what an agent endgame is and how it may benefit certain agency owners. (36:56)
Erik gives his responses to Mitch's five rapid questions. (43:03)
Key Quotes:
“You should be borrowing money on things that are going to generate revenue for you. Think of it as an investment. You're not going to invest in anything that doesn't have a return or a justified return on investment.” - Erik Garcia, CFP®
“You just can't accumulate what it took somebody, another agency owner, ten to fifteen years to get to and you think you're gonna do it in three to five years?” - Erik Garcia, CFP®
“Once you become aware of where your money's going, you start making different buying decisions” - Erik Garcia, CFP®
Resources Mentioned:
Erik Garcia, CFP® LinkedIn
Plan Wisely Wealth Advisors
Reach out to Mitch Gibson
Feb 8, 2023
51 min
In this episode of The Power Producers Podcast, David Carothers interviews Fred Cary, CEO of IdeaPros. Fred discusses how IdeaPros helps entrepreneurs and shares many principles and practices that every business owner can benefit from.
Episode Highlights:
Fred mentions that IdeaPros assists entrepreneurs with everything they need to improve. (3:12)
Fred explains that he gained traction and an audience by understanding the market opportunity, ensuring that it is robust and growing, and finding the hole in what is not being served. (4:45)
Fred mentions that he built IdeaPros on the pillars of sameness, stating that regardless of the type of business you want to start, there are several things you must do. (9:09)
Fred explains that new businesses fail for two reasons: not having capital and creating something that nobody needs. (17:10)
According to Fred, the best approach to convince someone to want to purchase from you is to be the expert and be viewed as the expert so they feel they can trust you. (26:33)
Fred believes that applying the lessons and techniques that IdeaPros is teaching business owners is a genuine opportunity regardless of industry. (44:11)
Fred explains that individuals should make a gut check to see if this is what they want to do because when they can link their passion with their business, they will have a great life. (48:58)
Fred mentions that their website provides a complete indexed table of contents with everything people want to know about entrepreneurship, starting a business, growing a business, marketing, advertising, and raising money, and it's all free. (51:52)
Fred encourages people to persevere, to do things differently, and to align their life's purpose with what they do for a living. (53:38)
Tweetable Quotes:
“The reason I'm here is to help get your audience focused on the fact that no matter what it is that you're trying to do to change your life and to change your living, I can show you how to do it in a way that's going to get you successes that you're probably not even imagining.” - Fred Cary
“The best way to get somebody to want to buy from you is if you are the expert, and you are perceived as the expert because then there's a trust factor involved.” - Fred Cary
“Do something different, stand out in the crowd. If this is not you, find what is you, find your passion. And when you can align your passion with your business, you're going to have a great life.” - Fred Cary
Resources Mentioned:
Fred Cary LinkedIn
IdeaPros
David Carothers
Kyle Houck
Florida Risk Partners
The Extra 2 Minutes
Feb 8, 2023
57 min
In this episode of Agency Intelligence podcast, host Jason Cass interviews Michelle Mosher, Founder, and CEO at Southshore Insurance Professionals, LLC, and Michele Horwitz, Agency Owner of Bay Area Insurance Shop, Inc. Michelle and Michele talk about their approach to business and niche in the insurance industry.
Episode Highlights:
What has attributed to Michele and Michelle’s success, skill or luck? (7:28)
Michelle and Michele share their career background. (10:31)
Michelle mentions one of her goals when she opened her agency. (16:50)
What’s the main niche of Michele’s agency? (20:37)
Do Michele and Michelle agree that the amount of competition is based on the number of prospects? (24:40)
Michelle mentions her biggest challenge, at present. (30:22)
What’s something that’s been significantly helpful to Michelle when doing business? (33:26)
Michelle and Michele give a piece of advice to the loyal listeners. (40:45)
Key Quotes:
“I think that insurance is still such a relationship business, that there will be a point that the not talking doesn't work anymore. There's going to be a stage in this process that there has to be relationship building, and it’s harder to do digitally.” - Michele Horwitz
“It's okay to take time for yourself and not every client is a good client. But, the ones that are good understand when you need to take time for yourself.” - Michelle Mosher
“There are a lot of helpful hints out there. But, there's also a lot of noise and you just have to figure out what you're good at, what your path is, and move from there.” - Michele Horwitz
Resources Mentioned:
Michelle Mosher LinkedIn
Southshore Insurance Professionals
Michele Horwitz LinkedIn
Bay Area Insurance Shop, Inc.
Reach out to Jason Cass
Agency Intelligence
Feb 7, 2023
53 min
Yes, indeed, how you represent your prospects to the marketplace will either make you a winner or guarantee your failure.
In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht demonstrates how you can construct a new business or renewal submission to your carriers that will not only cause the underwriters to want to quote your submission but will encourage them to give you a better quote!
Episode Highlights:
Charles discusses how important it is to present the insured to the marketplace. (3:02)
Charles explains the two things that a business owner may do to ensure success. (4:59)
Charles shares a story about when he was still figuring out his consulting practice. (5:59)
Charles discusses the responses he received from his LinkedIn question for underwriters. (9:05)
Charles explains the significance of a superior submission. (25:54)
Charles believes that a good submission will get you more broker record letters if you can demonstrate to the prospect that you would be marketing them like a Ferrari in the market. (30:30)
Key Quotes:
“If I can help you be more successful in your career, whether you're on the carrier side or the agency side or in loss control, or whatever it is, doesn't matter if you're doing personal lines or employee benefits, property and casualty life insurance, I don't care, I want to be able to help you. ” - Charles Specht
“If you can put together a superior submission and give a reason, detailed description and reason to the underwriter, what they've done for certain things, and why credits should be given. You're much more able to justify those credits with the underwriter and likely to get them” - Charles Specht
“If the insured knew how poorly so many agents out there are representing them to the marketplace right now, based upon their renewal submission, let alone the new business submission. I believe those insured's would fire their agent immediately and sign a broker of record letter to anyone else who's willing to put together a good submission.” - Charles Specht
Resources Mentioned:
Reach out to Charles Specht
Permission Network Insurance Agency, Inc.
Feb 6, 2023
34 min
Load more