Millionaire Insurance Producer Charles Specht

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

Do you struggle with "follow-up" for your prospects? Or, maybe you struggle because you only do follow-up in one form (e.g. cold calls or emails)? If yes, then welcome to the club! We all struggle with it. Prospecting is difficult and confusing and most agencies don't have someone to teach you how to do it because no one else there knows how to do it, either! 
In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht will explain not only why having a systematized "follow-up" is both wise and necessary to growing your Book of Business, but he'll take you through a step-by-step prospecting follow-up program he recommends to many people in his 12X Commission Mastermind. 
PS: If you're interested in learning more about the 12X Commission Mastermind, visit my website at: www.12x.club

Episode Highlights:

Charles discusses the 12x Commission Mastermind. (1:47)


Charles believes that a significant portion of insurance producers and agents lack an established follow-up program when they're engaged in prospecting. (3:40)


Charles explains the significance of choosing the right strategies for your prospects to avoid overconcentration on a segment that may not align with your business interests. (08:00)


Charles discusses the process of setting up a follow-up program, which includes methods such as cold calls, emails, and social media engagement, along with participation in networking events, soliciting referrals, and incorporating additional elements. (12:01)


Charles shares a scenario showcasing diverse ways to prospect, including through cold calls and emails. (15:52)


Charles mentions that layering the prospecting follow-up leads to exponential results, as they follow a systematic process, ensuring long-term, measurable results. (29:27)



Key Quotes:

“Your prospect will respond to you in the time and in the platform that is most comfortable and convenient for them, not you. ” - Charles Specht

“You need to have at least three ways in which you're prospecting, but more than that is better. And they have to be effective, based upon the type of prospect that you're going after.” - Charles Specht


Resources Mentioned:

Reach out to Charles Specht


12x Commission mastermind

Permission Network Insurance Agency, Inc.

No, I'm not talking about this podcast. I'm talking about you prospecting for new business! How you utilize "time" and the availability of it will have a direct correlation to your success in sales. If your prospect doesn't feel a need to move forward, to get things done, to understand how important it is to move quickly, you will not only struggle at setting new business appointments but you'll have a hard time winning. Why? Because, sales is war! And, because people (prospects) are lazy and unmotivated. 

So, In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht will give you some practical tips and suggestions about how to incorporate a "drop dead date" in your prospecting in order to win more new clients.

Episode Highlights:

Charles discusses procrastination and the role of time limits. (2:46)


Charles mentions the advantages of including timeframes in emails and calls when reaching out to potential clients. (8:49)


Charles explains that successful prospecting involves handling multiple prospects at once, adjusting proofs as needed, and respecting deadlines without applying excessive pressure. (14:39)


Charles discusses the crucial role of setting clear timelines and deadlines for prospects in reinforcing the position of an insurance agent. (20:55)


Charles believes that timing is a key factor to success in prospecting. (22:24)


Charles shares his view on the importance of incorporating time frames in sales, prospecting, and marketing procedures to enhance responses and boost business. (24:01)



Key Quotes:

“For us to win business, for you to win a new client, means somebody or other people are who are going to have to lose in order for you to win. If you're going to win a new client, at least one person, maybe more, has to lose in order for you to win.” - Charles Specht

“Sales is war. And if we don't give the insured some kind of a time period in which to have a decision done, they will continue to push it off, push it off, push it off, push it off. And before you know it, you are no longer at the top of their to-do list.” - Charles Specht

“Timing is so important to success. Timing is so important to prospecting. Giving your prospect a certain amount of time in which to get something done is very important.” - Charles Specht


Resources Mentioned:

Reach out to Charles Specht


Permission Network Insurance Agency, Inc.

Going for the BOR is always the better option, but sometimes you just have to quote. If you go through a normal quoting process, be sure to get these three (3) things from the prospect. Once you do this, your quote-to-win ratio will increase so much that you could see your new business revenue increase by some 50% annually. That's a lot of commission. It's YOUR new business commission! But only if you get these three buy-in's from your prospect. So, listen and implement.

PS: Download a free copy of The Millionaire Producer at: https://permissiongroup.com/the-millionaire-producer/

Key Topics:

Understand the significance of the quoting process in the insurance industry

The importance of the Broker of Record (BOR) letter

Three essential steps to secure more clients and increase commission

The importance of exclusive access to key insurance carriers

Ensuring guaranteed business through clear agreements on price savings

Preventing competitors from getting a last look at quotes

Strategies to remind clients of agreed terms during the quoting process


Reach out to 
Charles Specht

Visit:
Permission Network


Produced by: PodSquad.fm

It's really hard to set new business appointments with your prospects if you can't communicate with them directly. (Go figure, right?) So, then, why in the world would you ... (or another agent you know?) ... keep prospecting in ways where you are forced to deal with gatekeepers and receptionists? That just doesn't make sense to me at all.
In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht will teach the why and how of finding your prospect's "sweet spot" when it comes to communicating with them directly, in order to set more appointments.
 
Episode Highlights:

Charles uses the analogy of hitting the sweet spot in baseball to explain the importance of finding the right platform and script to communicate with prospects. (2:36)


Charles explains the importance of prospecting in a way that resonates with the prospect's preferences and needs, rather than solely relying on the salesperson's preferred methods. (6:08)


Charles discusses the need for a multi-pronged approach to prospecting, including walk-in visits, email, telephone calls, direct mail, social media, and speaking to centers of influence. (10:01)


Charles mentions the importance of finding ways to get direct access to decision-makers, such as using social media or sending a short text message, in order to bypass gatekeepers and increase the chances of success in selling insurance. (12:21)


Charles shares that emails should be micro-niched, focused on the major problem the prospects have, and clear and concise about how to fix it. (16:04)


Charles explains how to know the best way to prospect depending on the type of business that you are going after. (21:08)



Key Quotes:

“You need to have multiple different ways in which to speak to your prospect. Otherwise, you're not going to have success in setting appointments. And if you can't set appointments, you will starve.” - Charles Specht

“I would tell you just try and prospect in ways in which you can get direct access to decision maker so that you can bypass the gatekeeper, period. I like making phone calls, I actually think making phone calls works with a lot of different businesses. So it needs to be a part of that. However, emails, social media doing walk-in visits, different things like that can be very, very powerful if you do it, right.” - Charles Specht


Resources Mentioned:

Reach out to Charles Specht


Permission Network Insurance Agency, Inc.

How would you like to win 6 new clients via signed Broker of Record Letter in less than 6 months ... with even the smaller of these clients being $12,000 in annual revenue? Would that be OK with you? I'm sure it would!
In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht interviews [Insurance Producer Rockstar] Rocio Luna, who is also an active member of the 12X Commission Mastermind (www.12x.club) community. Among other things, Rocio explains how she is utilizing social media to get her Micro-Niched prospects (plumbers and concrete subcontractors) to reach out to her directly in order to solve their worker's compensation problems.

Episode Highlights:

Rocio discusses discovering Charles Specht and the 12X Commission Mastermind via a YouTube video on cold calling and prospecting. (2:46)


Rocio shares her insurance background, beginning as a claims manager and eventually becoming a sales producer. (4:11)


Rocio mentions that listening to Millionaire Insurance Producer podcast episodes influenced her decision to focus on construction. (7:46)


Rocio explains how she secured a client by presenting a solution to reduce the client's X-mod and providing a service timeline. (10:31)


Charles discusses the importance of insurance companies having well-targeted social media profiles and insurance buyers being aware of the broker of record letter option. (14:36)


Rocio discusses her primary prospecting method: social media, particularly Instagram. (16:39)


Rocio explains how embracing micro-niching helped her win a plumbing account. (20:11)


Rocio mentions that the insurance industry is not a get-rich-quick scheme; it demands hard work, prospecting, and building relationships with clients. (26:39)


Rocio shares how the 12X Commission Mastermind helped her in starting an Instagram account. (27:47)


Rocio believes that just one week of cold calling can lead to noticeable improvements in your work. (31:33)


Rocio asserts that joining a mastermind, like the one led by Charles, is the best way to reach a million dollars in commission, as it helps agents achieve their goals through repetition, fostering self-awareness and growth. (32:21)



Key Quotes:

“Agents should be transparent and just have a very simple process. Obviously, know your industry, because it's completely different when you're meeting with a human resources person and an owner.” - Rocio Luna

“If you just do one week of cold calling, you'll see the difference in your work.” - Rocio Luna

“I absolutely do recommend joining the mastermind if you want to reach a million dollars in commission.” - Rocio Luna


Resources Mentioned:


Rocio Luna LinkedIn


Rocio Luna Instagram

Modern Reign Insurance Brokers

12X Commission Mastermind

Reach out to Charles Specht


Permission Network Insurance Agency, Inc.