Agency Intelligence: The Insurance Podcast Network Agency Intelligence

In this solo episode of the Insurance Producers Podcast, your host Cyrus Jaffery takes the mic to delve into the complexities of the current insurance landscape. With the industry facing a challenging hard market, Cyrus shares invaluable insights into how insurance producers can navigate this terrain with finesse.

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

Scaling a business is all about understanding your ideal client. "It's called a book of business, not a book of sales," says Guffy Wright, National Sales Leader at The Mahoney Group. Guffy joined us to discuss how he's using a focus on people and treating his book of business as just that – a business. Learn how he's providing value to clients, defining his ideal client, scaling his business and finding success.

Enjoy the episode!

Episode Links:
Ellerbrock-Norris: https://www.ellerbrock-norris.com
Ellerbrock-Norris Wealth Strategies: https://www.ellerbrock-norris-ws.com
The Mahoney Group: https://www.mahoneygroup.com
LAUNCH: https://getlaunch.io/

Elliot Bassett: https://www.linkedin.com/in/elliot-bassett-aip-cpcu-84499515
Ryan Brott: https://www.linkedin.com/in/ryan-brott-cepa%C2%AE-77a278a
Guffy Wright: https://www.linkedin.com/in/guffy-wright-752679b

This episode is sponsored by LAUNCH.

In the world of insurance, independent agencies fight to survive. Brokers are forced to compete by blocking markets and bid for the lowest price. Worse yet, the industry is fragmented.

Agencies find it difficult to collaborate across division on the same client. Millions of dollars in potential revenue are left on the table. And agency owners lie awake at night wondering how to scale.

THAT’S WHERE LAUNCH COMES IN.
Access the full-revenue potential in your existing book of business. See opportunities other agencies can’t. Offer more value. Gain a competitive advantage in a commoditized market.

Visit https://getlaunch.io/ to learn more.

Money is a flash point in marriages. Throw in income disparity between spouses and you have even more opportunity for complex, emotionally charged conflict.

In this episode of the Stuff About Money podcast, Erik Garcia, CFP®, ChFC®, BFA™ and Xavier Angel, CFP®, ChFC®, CLTC, invite Dr. Matt Morris, couple's counselor and perennial contributor to the show, to discuss potential pitfalls for couples if they are not engaging in regular, healthy conversations about money. You will walk away with an awareness of areas you can afford to grow in with a list of strategies and tactics to reduce money friction in your relationship.

Episode Highlights:

Dr Matt notes that couples are increasingly discussing financial matters, such as debt and income, during premarital counseling, as they often marry later and are more financially stable. (06:58)


Dr Matt explains that individuals who depend financially on their partners often experience complex emotions, including guilt and unease, due to concerns about their contributions being undervalued. (11:43)


Dr Matt emphasizes the need to discuss complex feelings related to uneven distribution of family responsibilities. (16:51)


Dr Matt mentions that financial security in relationships is important to prevent feelings of unfairness and power struggles. (21:50)


Dr Matt discusses how hiding expenses from partners, like splurging on concert tickets or shoes, can lead to a pattern of non-disclosure in financial matters. (33:09)


Dr Matt suggests couples maintain a living document listing financial priorities and regularly update it to reflect changing circumstances and values. (41:15)


Dr Matt discusses how financial discussions can address insecurities, leading to budget adjustments that ensure both partners feel valued. (46:23)


Dr Matt explains that in couples therapy, the perception of equitable distribution of household responsibilities is crucial, yet challenging, due to the invisible nature of much domestic work. (54:22)


Dr Matt emphasizes the need for ongoing discussions about the division of household labor as circumstances change, to prevent resentment and challenge traditional gender roles. (58:22)



Key Quotes:

“Having a conversation about an agreed upon amount of money that doesn't have to be discussed, I think is helpful to address this power imbalance that both people might be feeling in the relationship.” - Dr. Matt Morris

“Every couple has to decide, here's the amount of labor, here's the task, and here's where we're going to sort it out in a way that feels equitable for us.” - Dr. Matt Morris

“Relational security is the goal. We feel good with each other. We feel like we’ve got a partner and your finances play a really important part in that. So, just keep asking yourself, are we managing our money in a way that causes us to feel like a team, to feel like we're secure, to feel like we're safe together.” - Dr. Matt Morris


Resources Mentioned:

Dr. Matt Morris

Matt Morris & Associates

Erik Garcia, CFP®, BFA

Xavier Angel, CFP®, ChFC, CLTC

Plan Wisely Wealth Advisors

Join Cyrus Jaffery on the Insurance Producers Podcast, sponsored by Quotamation, as he sits down with Jason Cass. In this episode, Jason shares expert advice on delegation, time blocking, and consistency in the insurance industry. Discover actionable strategies for boosting productivity, overcoming challenges, and staying focused amidst industry shifts. Don't miss Jason's insights on the truths of insurance and the growth of Indy-Tech at the upcoming conference. Tune in now!

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.