Millionaire Insurance Producer Charles Specht

Wouldn't it be great if we could get you a steady flow of business owners to reach out to you to schedule appointments, rather than you contacting business owners who don't know you, like you, or trust you yet? Of course, it would be! It would make everything easier: setting appointments, building rapport, getting more signed BORs, winning business, etc. 

In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht will not only tell you why you should contact associations about becoming their endorsed insurance provider, but he tells you exactly how to do it in such a way that the association leadership will even give you a copy of their active membership list.

Episode Highlights:

Charles discusses the significance of prospecting and appointment setting for insurance agents. (2:07)


Charles explains how associations add value to their members and how insurance agents become endorsed agents for these organizations. (4:50)


Charles mentions the advantages of association endorsements, such as increased business and easier prospecting. (7:17)


Charles discusses the importance of micro-niching in the insurance industry and how it can make prospecting more efficient and effective. (12:10)


Charles shares some methods for approaching associations for endorsement, such as targeting smaller regional associations and conducting a Google search for potential associations. (16:29)


Charles explains the benefits of becoming an endorsed agent, which include access to membership lists and the ability to relieve executive directors' frustration. (19:47)


Charles discusses how becoming an endorsed agent can lead to non-member prospecting and sales opportunities. (22:18)


Charles mentions that it is important to focus on certain industries to learn about their risks and get in touch with carriers and associations. (26:00)



Key Quotes:

“By endorsing you as their agent to their members, it gives the members value that they might be able to lower their costs. Because you're doing business with someone through the association, the association endorses you, introduces you, refers you to them.” - Charles Specht

“I truly believe that if you pursue an association endorsement, it's going to put a lot of gold in your pocket. Everything becomes easier, prospecting becomes easier, and setting appointments becomes easier. Working with a few insurance carriers that you want becomes easier, you can write a lot of business doing it this way.” - Charles Specht


Resources Mentioned:

Reach out to Charles Specht


Permission Network Insurance Agency, Inc.

Are you an insurance agent who has had moderate success selling insurance, but you just know you're not reaching your full capacity? Do you not have a strategic plan, or a step-by-step process to win new business, and you're merely quoting but not winning? That was the experience of Daniel Brookman, before joining 12X Commission Mastermind and implementing the training. Now, he's winning signed BOR's and building his Book of Business. 

In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht interviews Daniel to find out what is working for him now, what is he saying, and why did that large manufacturing account sign his BOR during their first meeting!

Learn more about the 12X Commission Mastermind at this link: 12x.club

Episode Highlights:

Charles explains that in order to be a successful insurance agent, it is crucial to ask for what you want and to be a hunter, rather than a gatherer. (2:02)


Daniel shares that he is an experienced insurance agent from Ohio, specializing in life insurance, but also writes commercial property and casualty policies. (5:32)


Daniel mentions that joining the 12X Commission Mastermind has been hugely beneficial, particularly the two weekly calls with the group's leaders, which helped him maintain a productive mindset and keep prospecting as his top priority. (8:33)


Daniel believes that the discovery interview is the most important part of the sales process. (11:51)


Daniel discusses being explicit about what you are going to provide is a good way to contrast what you're capable of doing and willing to do with what the incumbent agent is doing. (16:30)


Daniel explains that he used to cold call and quote policies, but after listening to sales and insurance-based podcasts, he realized the importance of having a specialized and differentiated approach to prospecting and messaging to stand out from competitors. (21:15)


Daniel believes that transparency and explaining the process can help buyers understand how to get the best deal without hurting themselves in the long run. (25:00)


Daniel explains that 12X Commission Mastermind offers a solution to those who are tired of the same old process of getting quotes and following policies, feeling stuck, and not standing out from others. (26:58)


Charles discusses the benefits of being a member of the 12x Commision Mastermind program. (27:55)



Key Quotes:

“I still think the discovery interview is the most important part of the sales process, because you get invited in for a reason. And the number one thing you got to find out in that discovery process is, why are you there? Why did you get invited in?” - Daniel Brookman

“The biggest benefit has actually been mindset. Having those two weekly calls with yourself and the other producers on there, and just keeping those ideas fresh, keeping prospecting, top of mind, it keeps me from kind of straying away, and, you know, kind of losing focus on what's most important as a producer, which is prospecting.” - Daniel Brookman

“Now my prospecting is specialized. The messaging is not just industry specialized, but also specialized kind of talking and tailored to this process, and how I'm going to be different than just quoting your insurance.” - Daniel Brookman


Resources Mentioned:


Daniel Brookman LinkedIn

Reach out to Charles Specht


12X Commission Mastermind

Permission Network Insurance Agency, Inc.

Asking for the signed Broker of Record Letter is hard enough, but what do you do if the prospect actually says no? Do you have a 'Plan B' or do you just rollover at that point and agree to blindly offer quotes? I would tell you that you need to stick to your guns, do not quote (yet), and utilize a 'Plan B' so the prospect will make a choice in your favor after they get a chance to test your Bugatti-like services.
In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht teaches not only what the 'Plan B' ought to be but he'll give you the exact script to use when creating your own personalized 'Plan B.'
MOREOVER..... stay tuned at the end to hear about the "Broker of Record Letter BOOTCAMP" Charles is putting on 3/24/23. You won't want to miss this one! For more details on it this live BOR training, check out: brokerofrecordletter.com

Episode Highlights:

Charles explains that Plan A is to have a strategy prepared for getting the Broker of Record letter signed on the first meeting with the prospect. (04:29)


Charles discusses the percentages of insurance buyers who will sign your Broker of Record letter. (06:20)


Charles shares the script that every agent should learn before asking the prospect to sign the Broker of Record letter. (09:47)


Charles explains how to transition from Plan A to Plan B if the insured shows discomfort with Plan A. (11:27)


Charles discusses why having free services on Plan B is important. (17:26)


According to Charles, under Plan B, agents provide the insured with a strategy for what they will be doing in the future so that the insured may see the value they are receiving for the service being offered. (18:55)


Charles explains that having a strategy that is still geared toward the Broker of Record letter will give positive results. (24:13)


Charles announces the Broker of Record Letter BOOTCAMP, which will take place on March 24, 2023. (24:35)



Key Quotes:

“A professional has a plan. A professional has a strategy. A professional knows what they're going to be doing next. Even though you might not always know what to expect, you should always have a next step. Plan A, Plan B, Plan C.” - Charles Specht

“In Plan B, you're giving the insured a plan on what you're going to be doing going forward so that they can see the value they're getting out of it.” - Charles Specht

“Plan A is first and foremost, that's what we're working on first. Plan B, which is what this podcast episode is about, is sticking to your guns and not just giving in. But having a plan of attack that is still pushing towards the Broker of Record letter. Frankly, when you do that, you're going to have really, really good results.” - Charles Specht


Resources Mentioned:

Reach out to Charles Specht


Broker of Record Letter BOOTCAMP

Permission Network Insurance Agency, Inc.

Have you ever gone through a season of prospecting where you weren't actually prospecting? You were doing -- I don't, know, whatever -- but just not a lot of reaching out to prospects? Yes, I think we all have experienced that from time to time. Today I had a coaching call with a new producer who has been in the business for about 8 months ... and I had to light him up! He's being lazy, reactive, and not doing the work that Producers are supposed to do. We all go through seasons like that. If you're in that season right now then GET OUT OF THERE RIGHT NOW!!! Enough is enough. Your weak efforts are hurting my ears. In fact, my own weak efforts hurt ever more. We (you and me both!) can do better. So let's.
Also, be sure to check out www.microniche.club and sign-up for a training I'm going to be given about how to choose your most profitable Micro-Niche. I'm also going to be giving people my "go to" Script that almost sets more new business appointments than anything else. Again, go to: www.microniche.club

Key Topics:

Addressing laziness in insurance agents

The dangers of reactive work habits

Importance of proactive client engagement and prospecting

Strategies for effective phone calls and client interactions

The value of walk-in visits and personal networking

Advice on focusing on larger accounts and meaningful activities

Motivational insights for achieving a million-dollar book of business


Reach out to 
Charles Specht

Visit:

Permission Network

www.microniche.club



Produced by: PodSquad.fm

Admit it. Go ahead. Admit that you win a lot of new business by being the agent who offers a cheaper priced quote than your competitor. It's ok. Go ahead and admit. Why? Because that's a good thing. A very good thing. Price is very important. Price is so important, actually, that you'd be doing yourself a disservice to ignore it. In fact, you will set far FEWER new business appointments if you do NOT talk about price. 
In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht talks about why and how you should prospect on price, and how to use it to set more new business appointments going forward. (And, he even gives you a few examples to use toward the end!)

Episode Highlights:

Charles explains that most insurance agents do not build a book of business being more expensive than the incumbent agent. (2:28)


Charles discusses the importance of understanding and admitting that pricing is very important in prospecting and setting appointments. (4:07)


Charles explains that prospecting and sitting in on an appointment are two completely different aspects of an insurance producer's job. (8:06)


Charles explains what "price plus something" is and why having a script is important when prospecting. (13:34)


Charles mentions that very few insurance companies have ever taken the next step and made something that makes them stand out. (20:22)


Charles believes that most insurance agents do not provide additional services that help their prospects and insureds and generate new revenue. (22:18)


Charles explains that creating a script that gets to the heart of the issue and the value point that an agent has to give a prospect is important because the agent is asking for an hour of their time. (24:30)


Charles mentions that the “plus something” has to have so much inherent value that the insured actually gets it. (27:58)



Key Quotes:

“It's just important that we understand and admit that price is absolutely important. It's important to prospecting and setting appointments.” - Charles Specht

“When it comes to your prospecting, I will tell you that you need to have a carat, a C3 - a Cold Call Carat. Your script that is “price plus something”, that “something” is unique to you…that “something” is a service you provide. ” - Charles Specht

“Your book of business is going to go up when you really kind of focus on the number plus something.” - Charles Specht


Resources Mentioned:

Reach out to Charles Specht


Permission Network Insurance Agency, Inc.

(First, go check out www.microniche.club to see what this is all about) - Do you feel like you're struggling setting enough new business appointments or not winning enough new clients? If that's the case for you, I would say it's likely due to a lack of focus in a narrowly defined Micro-Niche. Most producers struggle or don't make the kind of income they want or know they're capable of making because they are prospecting on the WRONG types of accounts. 
In this episode of the Millionaire Insurance Producer podcast, host Charles Specht will teach you about why you need to choose a Micro-Niche in order to accelerate your sales career and make more commission. And, the starting point for you is to first visit: www.microniche.club

Key Topics:

Micro-niche importance - check out www.microniche.club


Leveraging micro-niches for business growth

Effective strategies for selecting a micro-niche

Success stories from micro-niche strategies

Impact of micro-niching on appointment setting and client acquisition

Long-term benefits of micro-niching for agents and agencies


Reach out to 
Charles Specht

Visit:

Permission Network

www.microniche.club



Produced by: PodSquad.fm