Agency Intelligence: The Insurance Podcast Network Agency Intelligence

In this "Greatest Hits" episode, originally aired on January 6th, 2023, James welcomes Bradley Flowers and Scott Howell, co-hosts of the Insurance Guys Podcast. Visit https://www.jamesjenkins.com/podcasts/agency-freedom/ to join our email list and catch up on episodes you may have missed.

Connect with Agency Freedom on Facebook at the Agency Freedom group: https://www.facebook.com/groups/agencyfreedom

Email us at podcast@jamesjenkins.com with ideas, requests, complaints or suggestions for how we can make the show better.

Episode Highlights:

Bradley discusses The Insurance Guys Podcast, how it got started, and what the podcast's hook is. (6:04)


Bradley believes that people should create content around their passions, and that podcasting is a great way to do it. (9:51)


Scott and Bradley explain that consistency is the key to having more than 300 episodes and that skipping an episode for a week is a good litmus test to see how many people are waiting for that show to drop. (13:29)


Bradley mentions that he and Scott often batch record, putting them months ahead of schedule. (16:41)


Scott explains that his sole focus is to provide outstanding material every Wednesday at 6:00 a.m. (27:23)


According to James, many absolute rockstars are hidden in plain sight, and Vonda Copeland, who has 9 offices with over 50 employees, is one of them. (30:26)


Bradley explains that, from a content viewpoint, it is becoming easier for non-content producers to generate content, therefore if you want to be an elite content generator, you must elevate your game. (50:14)


James commends the people of Florida for passing special session legislation that limits the assignment of benefits. (1:03:51)

How do you set a new producer or insurance advisor up for success? From selecting a training program, developing internal processes to align the team, and understanding your target market, bringing on new agents or advisors can be difficult. It's a competitive market – and every independent agency is different. Colby Allen, a financial consultant and analyst at AgencyFocus, helps independent insurance agency owners understand the value of their agency. He joins us today to discuss which milestones your new producers should be hitting and how you can develop a plan to get them there.

Enjoy the episode!

Episode Links:
Ellerbrock-Norris: https://www.ellerbrock-norris.com
Ellerbrock-Norris Wealth Strategies: https://www.ellerbrock-norris-ws.com
AgencyFocus: https://agency-focus.com
LAUNCH: https://getlaunch.io/

Elliot Bassett: https://www.linkedin.com/in/elliot-bassett-aip-cpcu-84499515
Colby Allen: https://www.linkedin.com/in/colbytallen

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.

In this episode of Power Women In Insurance, Teresa Kitchens sits down with Kaleigha Moore Fitch, Agency Owner of 212 Insurance Group. Kaleigha and Teresa about how she has built her agency through authenticity with her community, involvement and by being transparent about her challenges.

Key Topics:

The importance of authenticity in professional and personal interactions

Navigating life and business with empathy and understanding

The significance of support systems in dealing with personal challenges

Personal stories of overcoming adversity through resilience and support

Insights into the dynamics of communication and relationship-building in business

The role of personal experiences in shaping professional practices


Connect with:

Kaleigha Moore Fitch

Teresa Kitchens


Visit Websites:

212 Insurance Group

Sterling Insurance Group



Produced by: PodSquad.fm

What is your agency's set offense? Can you clearly articulate the differences of your agency versus everybody else? Are your pipelines overflowing? If any of those answers are no, you may be falling into Good Results Trap #2, which we cover on today's Agent Leader podcast.

In this episode, Brent Kelly continues the Good Results Traps 7-part series by covering the “trap” of doing good despite having No Unique Sales Approach.

Visit www.sitkins.com/bookacall to Schedule your Free Agency Assessment


Episode highlights:
3:50 Brent talks about how 2023 was a record breaking year in organic growth percentage across the board as reported by Reagan Consulting.
6:36 Brent warns that when good results are coming easy, we often forget about what's possible for our agency.
Four Areas in Trap #2 to Consider:
6:50 Commodity-based Selling rather than being a trusted advisor
10:15 Not knowing or unable to define your points of differentiation.
12:27 Having pipelines that aren’t full of ideal clients
19:50 Having low referral rates

Keep listening for the rest of the Good Results Traps insurance agencies fall into, and learn how to easily avoid them with The Agent Leader podcast.

Are you a crusty old insurance agent who hates BORs? If you are, then, goodbye. (I doubt you'd be reading this anyway if you were). However ... If you're a savvy, hungry, passionate insurance agent who wants to win and not lose, then today's topic is for you. 
In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht will explain to you why going after the BOR makes more sense than offering quotes, but also why there is nothing wrong with quoting... so long as you're being wise about getting what you want out of the relationship.
And, if you're interested in leveling up your sales game, visit www.12x.club and consider joining the 12X Commission Mastermind to learn how to build a $1,000,000 or more Book of Business through a signed Broker of Record Letters.

Episode Highlights:

Charles discusses the importance of both quoting and pursuing the Broker of Record letter in the insurance industry. (3:38)


Charles explains that when presenting quotes, insurance producers must focus on bringing less expensive options to policyholders, as bringing good quotes likely leads to more business. (6:44)


Charles mentions that quoting is still an important part of the process but offering quotes without the client’s permission is a weak move. (10:32)


Charles explains that it is important to have a bucket system to categorize accounts based on commission to determine how much time and effort to put into them. (15:55)


Charles recommends using time wisely to prospect on other accounts and find unhappy clients who may be willing to take over their policy instead of going through a quoting process without a Broker of Record letter. (22:52)


Charles mentions that accounts are merit-based, so learning persuasion, asking the right questions, prospecting, and following up is crucial for making business decisions. (25:58)



Key Quotes:

“I'm not saying that you should go through a quoting process if you don't have the broker of record letter. I'm definitely not saying that. In fact, I would normally caution you not to. But every account is different. And so you have to look at every account based upon its merits.” - Charles Specht

“Every single insurance producer, every single one of you needs to have buckets. And in your buckets, those buckets are going to have some kind of a label on them based upon what it is that you're going to do on that account.” - Charles Specht

“Every account stands on its own merit. You have to make a business decision on every single account. Therefore, you must always be learning, you must always be learning in order to understand how persuasion works. You must always be learning so that you can see what the relationship is like. You must always be asking the right questions so that you can penetrate deep into the relationship to figure out what exactly is there and what is not.” - Charles Specht


Resources Mentioned:

Reach out to Charles Specht


Permission Network Insurance Agency

The DIPP crew explore the evolution of contingent profit sharing commissions (CPCs) in the insurance industry, as well as the factors that affect CPCs, such as loss ratio and retention, and the challenges brokers face in managing CPCs. They also explore the role of brokers in fraud prevention and the importance of data accuracy. The conversation highlights the impact of external factors, such as weather patterns and regulations, on CPCs. The participants discuss the need to reevaluate CPCs for the future and find ways to incentivize desired behaviors. They also touch on the changing landscape of insurance and the challenges brokers face in navigating the current environment. The conversation explores various challenges and considerations in the insurance industry, particularly related to property insurance rates, moving portfolios, penalties for insurers, contingent profit commissions (CPCs), challenges for smaller brokers, the trade-off between CPCs and efficiency, causes of insurer profitability issues and the need for continued adaptation and collaboration.