Afleveringen
-
In this episode of Power Producers Podcast, David Carothers is joined by Joe Erle from C3 Insurance in San Diego to dive deep into the world of cyber insurance. From navigating ransomware attacks to exploring the evolving threat landscape, the conversation covers practical strategies, trends, and insights to help agencies and businesses stay ahead in a rapidly changing digital world. Joe shares his expertise on the critical role of cyber coverage, emerging AI threats, and the need for proactive planning.
Key Points:
Cyber Insurance in Focus
Joe Erle discusses why cyber insurance is the most critical coverage today, sharing real-life cases and strategies to mitigate risks like ransomware and social engineering.
Emerging Threats and AI
The conversation highlights how hackers are leveraging AI for phishing, voice cloning, and malware, creating new challenges for businesses.
Practical Cyber Solutions
David and Joe explore tools like CyberCube, multi-factor authentication, and incident response plans to strengthen businesses’ defenses.
Industry Trends and Market Insights
Joe sheds light on the soft cyber insurance market and why businesses should seize the opportunity to secure comprehensive coverage now.
A Look Ahead
The episode concludes with a teaser for future discussions, including a deep dive into conspiracy theories surrounding AI and cybersecurity.
Connect with:
David Carothers LinkedIn
Joe Erle LinkedIn
Kyle Houck LinkedIn
Visit Websites:
Power Producer Base Camp
Killing Commercial
C3 Insurance
Crushing Content
Power Producers Podcast
Policytee
The Dirty 130
The Extra 2 Minutes -
In this episode of Power Producers Podcast, David Carothers takes a bold step outside the box to discuss an often avoided yet critical topic: Mental Health. Joined by Brenden Corr of The Loss Runs Pros and Justin Goodman of Total CSR, David dives into their passion-driven initiative, Project 55. The conversation highlights the growing openness around personal struggles on platforms like LinkedIn, emphasizing the need for real, vulnerable discussions on topics such as ADHD, alcoholism, anxiety, and depression.
Brenden and Justin share their mission to bring awareness, resources, and actionable support to those struggling in silence, as well as the impact that building a supportive community can have in workplaces and beyond.
Key Points:
Breaking the Silence on Mental Health
David, Brenden, and Justin discuss the importance of addressing mental health openly, sharing personal stories to inspire vulnerability and connection.
Introducing Project 55
Project 55 is a new nonprofit initiative aiming to equip individuals with mental health first responder training, providing tools to identify and support coworkers or loved ones struggling with mental health issues.
Community and Resources
Brenden and Justin highlight their vision for an online community where individuals can access free resources, share experiences, and find guidance without stigma or fear.
The Workplace Impact
The conversation underscores how mental health challenges affect productivity and team dynamics, particularly in high-pressure industries like insurance. Project 55 offers practical solutions to address these challenges at the grassroots level.
How to Get Involved
Listeners are encouraged to visit Project55.org to join the community and stay updated on the comprehensive training program launching in April 2025.
Connect with:
David Carothers LinkedIn
Brenden Corr LinkedIn
Justin Goodman LinkedIn
Kyle Houck LinkedIn
Visit Websites:
Power Producer Base Camp
Killing Commercial
Project55
Total CSR
The Loss Runs Pros
Crushing Content
Power Producers Podcast
Policytee
The Dirty 130
The Extra 2 Minutes -
Zijn er afleveringen die ontbreken?
-
In this special episode of Power Producers Shop Talk, David Carothers sits down with Nicholas Ayers from Glovebox to discuss the recent acquisition of Better Agency by Glovebox and what it means for the insurance industry. David shares his insights as an investor and friend, focusing on the impact this partnership will have on both companies, their customers, and the broader market. With reflections on entrepreneurship, growth, and innovation, this episode offers a deep dive into the journey of building something meaningful and adapting to change.
Key Points:
Acquisition Insights
Nicholas Ayers shares his journey with Better Agency, reflecting on its evolution and the sentimental yet optimistic transition into Glovebox’s ecosystem.
The Power of Synergy
David and Nicholas discuss how combining Glovebox and Better Agency creates a stronger, more versatile platform for agencies and their clients.
Technology’s Role in Service
Nicholas emphasizes the shift from “just a mobile app” to a robust client experience platform, redefining service delivery and customer engagement.
Entrepreneurial Growth and Reflection
Both David and Nicholas share personal experiences on the challenges, growth, and mindset shifts required to navigate the entrepreneurial journey.
Future of Client Experience
The conversation teases upcoming features, including CRM capabilities, enhanced client interaction tools, and a seamless integration with carrier systems, set to revolutionize agency operations.
Connect with:
David Carothers LinkedIn
Nicholas Ayers LinkedIn
Kyle Houck LinkedIn
Visit Websites:
Power Producer Base Camp
Killing Commercial
GloveBox
Crushing Content
Power Producers Podcast
Policytee
The Dirty 130
The Extra 2 Minutes -
In this episode of the Power Producers Podcast, David Carothers welcomes Rob Gifford and Dan Abercrombie from Insurance Xdate. The trio dives into the journey of building an innovative tool for commercial insurance producers, exploring how Insurance Xdate simplifies pipeline management and prospecting. From leveraging data insights to overcoming challenges in a competitive market, Rob and Dan share actionable strategies and lessons from their experiences, making this a must-listen for producers looking to refine their sales game.
Key Points:
Innovative Pipeline Management
Rob and Dan discuss the inspiration behind Insurance Xdate and how it transforms prospecting with its seamless data aggregation and actionable insights.
Building Credibility Through Data
Rob shares how using rate filings and market-specific data gave him a competitive edge early in his career and how that philosophy drives the platform’s design today.
Navigating Hard Markets
The conversation highlights strategies for producers to stay proactive during market shifts, including the importance of consistent prospecting and leveraging tools to maximize efficiency.
Lessons in Collaboration
Rob and Dan reflect on the value of collaboration within the Power Producers and Killing Commercial communities, emphasizing the benefits of shared strategies and tools.
Entrepreneurial Insights
Dan shares his journey of entrepreneurial successes and failures, showcasing how adaptability and innovation can lead to game-changing solutions in the insurance industry.
Connect with:
David Carothers LinkedIn
Rob Gifford LinkedIn
Dan Abercrombie LinkedIn
Kyle Houck LinkedIn
Visit Websites:
Power Producer Base Camp
Killing Commercial
Insurance Xdate
Crushing Content
Power Producers Podcast
Policytee
The Dirty 130
The Extra 2 Minutes -
In this episode of the Power Producers Podcast, David Carothers talks with Sivan Iram from Flow Specialty. They discuss Flow Specialty’s innovative approach to using AI in insurance to enhance wholesale relationships, improve underwriting response times, and reduce operational friction for agents. Flow Specialty combines human expertise with AI-driven tools to speed up quote turnaround and improve accuracy without requiring agents to use portals. Sivan highlights that Flow’s AI is an internal tool supporting brokers rather than replacing them, positioning the company as a "caddy" for agents. Flow’s AI manages various tasks, such as analyzing quotes, market insights, and carrier communications. This combination allows agents to handle complex insurance transactions efficiently and frees up time to focus on larger accounts.
Key Points:
Introduction to Sivan Iram and Flow
David Carothers introduces Sivan Iram from Flow, highlighting producer challenges with traditional wholesalers. Sivan shares his transition from software to innovating traditional industries. Founded three and a half years ago, Flow provides enterprise-level service to mid-market and small commercial spaces, addressing inefficiencies like slow responses and lack of expertise through AI.
Flow's Approach to Wholesale Efficiency
Flow uses algorithmic underwriting and API integrations for faster turnaround. Acting as a "quarterback," Flow manages submissions and automates tasks traditionally done by retailers. Unlike wholesalers, Flow takes full ownership of the process.
User Experience with Flow
Sivan explains Flow’s AI agents offer speed, expertise, and tailored insights for brokers. These agents analyze quotes, compare options, and communicate with carriers, enhancing brokers' work without replacing them.
Addressing AI Concerns
David compares AI to a golf caddy, supporting rather than replacing people. Sivan agrees, noting that Flow reduces portal fatigue while keeping human oversight. Agents appreciate AI's ability to deliver faster, better service without compromising expertise.
Growth and Future of Flow
Flow is growing rapidly, tripling revenue monthly and signing 60+ agencies. With a strong carrier network and investments in technology, Flow balances human expertise with AI-driven insights, providing unmatched market value.
Conclusion and Call to Action
David encourages listeners to try Flow and highlights its potential to transform wholesale markets. Sivan provides contact information and reassures agencies about the ease of working with Flow. Both express excitement for Flow's future.
Connect with:
David Carothers LinkedIn
Sivan Iram LinkedIn
Kyle Houck LinkedIn
Visit Websites:
Power Producer Base Camp
Killing Commercial
Flow
Crushing Content
Power Producers Podcast
Policytee
The Dirty 130
The Extra 2 Minutes -
In this impactful episode of the Power Producers Shoptalk, David Carothers brings on guest Raghav Tana to discuss the personal challenges and profound purpose behind Raghav's initiative, the Little Sparks Project. This nonprofit organization aims to provide financial and emotional support to families of children with complex medical needs, sparked by Raghav’s experiences with his son, who was born with Apert Syndrome. David shares his own journey with his son Ethan, who has special needs, reflecting on the emotional and financial toll of ensuring adequate care. They discuss the importance of advocacy, community support, and how their personal hardships have led to a shared mission of helping others facing similar struggles. The episode highlights the upcoming Little Sparks Project gala in December, emphasizing the importance of donations and community involvement.
Key Points
Introduction to the Little Sparks Project
Purpose:
The Little Sparks Project was founded to assist families financially when they have children with medical complexities, alleviating some of the financial strain that comes with hospital stays, surgeries, and extra care for children under 12.
Inspiration:
Raghav shares how his son’s rare condition, Apert Syndrome, motivated him to start the organization. He and his wife realized how fortunate they were to afford the costs associated with his son’s care and wanted to help other families facing similar situations but lacking resources.
The Emotional and Financial Burdens of Special Needs Care
Emotional Toll:
David and Raghav talk openly about their experiences as fathers of children with special needs. They emphasize the importance of having a support system and the mental challenges that come with the “why me” question when navigating these situations.
Financial Costs:
The episode sheds light on the often-hidden financial burdens, from medical bills to daily expenses related to special needs care. For example, Raghav mentions spending over $42,000 in the first 14 months of his son’s life on healthcare-related costs, a financial load many families are unprepared for.
Advocacy and Support Networks
Importance of Advocacy:
David shares how he and his wife advocate for their son in school and medical environments, often facing challenges but ensuring he gets the resources he needs. This proactive approach in advocating for children is critical, and it’s something Little Sparks also aims to support.
Emotional Support:
Both David and Raghav emphasize that asking for help is not a weakness but a necessity. They encourage listeners going through similar situations to seek out emotional and social support, which is crucial for maintaining resilience.
The Little Sparks Gala
Event Details:
The Little Sparks Project is hosting a black-tie gala on December 19 at the State Room in Boston, with limited tickets remaining. The gala is a unique opportunity for supporters in the insurance and wider business community to come together, raise funds, and create awareness for the cause.
Impact and Support:
The gala will have a silent auction and speakers, with all proceeds going toward supporting families in need. Raghav and David encourage listeners who can't attend in person to contribute financially, helping provide resources for families facing similar journeys.
How to Support Little Sparks
For listeners who wish to make a difference, a donation link is available in the show notes, and every contribution, no matter the size, is meaningful. David stresses that financial support can significantly relieve families of financial stress, allowing them to focus on their children's needs without added financial anxiety.
Connect with:
David Carothers LinkedIn
Raghav Tana LinkedIn
Kyle Houck LinkedIn
Visit Websites:
Power Producer Base Camp
Killing Commercial
Little Spark (Donate & Support)
Get Your Tickets (Little Spark)
Crushing Content
Power Producers Podcast
Policytee
The Dirty 130
The Extra 2 Minutes -
This engaging episode of Power Producers Podcast features a candid discussion between David Carothers and Wade Millward on the intersection of insurance, operations, and growth strategies in the franchising space. With nearly two decades of industry experience, Wade shares how his unique background in software and insurance led to developing scalable solutions for franchisees and franchisors. The conversation spans various topics, from the challenges of producer development to the importance of automation and relationship-building in scaling a business.
Key Points:
Franchising and Insurance Synergy
Wade Millward discusses his journey into franchising and how he developed a solution to streamline insurance compliance for franchisors. By integrating technology and becoming a preferred broker, Wade has successfully scaled his operations.
Producer Accountability and Success
David and Wade delve into the challenges faced by producers, emphasizing the need for structured goals, training, and consistent activity to achieve long-term success.
The Importance of Operations
They highlight the critical role of having standardized processes and operating procedures, likening them to a "franchise manual" that ensures consistency, scalability, and efficiency.
Manual to Automation Workflow
Wade shares insights on starting processes manually to identify inefficiencies before automating tasks, focusing on enhancing human-to-human interactions.
The Role of Relationships in Sales
Both agree that insurance is a byproduct of relationships, and building trust through meaningful interactions is key to standing out in a crowded marketplace.
Advice for Aspiring Producers
Wade and David encourage new producers to identify their unique value propositions, invest in building processes, and stay adaptable in a rapidly evolving industry.
Connect with:
David Carothers LinkedIn
Wade Millward LinkedIn
Kyle Houck LinkedIn
Visit Websites:
Power Producer Base Camp
Killing Commercial
rikor.io
Crushing Content
Power Producers Podcast
Policytee
The Dirty 130
The Extra 2 Minutes -
In this special Thanksgiving edition of Power Producers Shoptalk, David Carothers dives into the holiday season's challenges and opportunities. He shares strategies for staying proactive, avoiding complacency, and building a strong foundation for 2025. Reflecting on personal and professional growth, David emphasizes gratitude for the communities and partnerships that drive success.
Key Points:
Proactive Holiday Planning
David stresses using the holiday season to assess goals, build pipelines, and prepare for market changes in 2025.
Avoiding False Security
Producers must avoid relying on temporary revenue increases and refocus on consistent prospecting.
Investing in Relationships
David highlights the "relational bank account" and the importance of nurturing connections during soft markets.
SMART Goal-Setting
Set measurable and actionable goals for 2025 while tracking daily activities to improve sales efficiency.
Gratitude and Growth
David shares his appreciation for the Power Producers community and his approach to fostering team development.
Connect with:
David Carothers LinkedIn
Kyle Houck LinkedIn
Visit Websites:
Power Producer Base Camp
Killing Commercial
Crushing Content
Power Producers Podcast
Policytee
The Dirty 130
The Extra 2 Minutes -
In this episode of Power Producers Podcast, David Carothers spoke with Patrick McBride and Joe Ems from Sembley, a company offering innovative technology designed to simplify the commercial insurance quoting process. Joe explained the origins of Sembley, which was created to address common pain points in the industry, such as the tedious nature of filling out renewal forms and collecting client data. A standout feature discussed was Sembley’s user-friendly interface, affordable pricing, and integrations that improve efficiency. By leveraging custom intake forms, property data imports, and integration options with systems like Hawksoft and NowCerts, Sembley aims to streamline workflows for agencies, reduce back-and-forth with clients, and enable seamless data mapping across various forms. This technology allows agencies to focus on client relationships rather than manual tasks, making it particularly valuable for agents looking to enhance both client service and operational efficiency.
Key Highlights:
Introduction:
David Carothers welcomes Patrick McBride as a guest host for this episode and introduces Joe Ems from Sembley, a tech company offering solutions for streamlining the insurance process. David shares initial skepticism about Sembley's low price point but emphasizes the quality and functionality of the product.
Why Sembley?:
Sembley stands out for its ease of use, user-friendly interface, and reasonable pricing. Patrick McBride discusses how his agency faced challenges with data ingestion and renewals using other technologies, which Sembley simplified with its integration capabilities and workflow support.
Key Features of Sembley:
Single Data Entry: Input client data once and map it across multiple forms, saving significant time.
Custom Intakes and Forms: The platform supports tailored intake forms that clients can fill out, streamlining the quoting process.
Client Portal and Automation: Automation and integration with other CRMs (e.g., HubSpot, Salesforce) help agencies manage client data more efficiently.
Supplemental Applications: Sembley handles various supplementals and continues to add more based on user demand.
User Experience:
Patrick emphasizes the intuitive design, which makes it easy for agents to input data and for clients to fill out forms. Sembley has custom intake forms and a static link feature that allows agents to streamline the data collection process.
Roadmap and Future Integrations:
Joe shared upcoming developments, including integrations with NowCerts and HawkSoft, and improvements to property data retrieval. Sembley is also exploring advanced data mapping and potential AI functionalities to enhance automation.
Insights on Industry Challenges:
The conversation highlights the industry's common struggle with getting clients to complete long applications and forms. Sembley's solution simplifies this process by pre-filling data and allowing for minimal client input on updates or confirmations.
Closing Remarks:
Sembley offers a discount for listeners who book a demo and use the code "power producers." Both David and Patrick praised Sembley’s practical approach, value for smaller agencies, and how it bridges the gap between tech accessibility and affordability.
Connect with:
David Carothers LinkedIn
Patrick McBride LinkedIn
Joseph G. Ems LinkedIn
Kyle Houck LinkedIn
Visit Websites:
Power Producer Base Camp
Sembley
Killing Commercial
Crushing Content
Power Producers Podcast
Policytee
The Dirty 130
The Extra 2 Minutes -
In this episode of Power Producers Shoptalk, David Carothers breaks down his top strategies for engaging contractors effectively. Drawing from real-world experience, David shares the key questions and approaches he uses to understand contractors’ needs and build trust. He emphasizes the importance of uncovering pain points related to certificates of insurance and audits, providing actionable insights on how producers can leverage these moments to win new business and strengthen client relationships.
Key Points:
Top Questions for Contractors
David recommends asking about the certificate process and past audits to reveal pain points and spark meaningful conversations.
Streamlining Certificates
He shares how using a self-service certificate portal empowers clients and boosts efficiency.
Audit Support
David emphasizes attending audits to reassure clients and gain insights that improve service.
Anticipating Needs
Learning from auditors helps producers identify client needs and adjust strategies.
Proactive Financial Planning
David advises tracking payroll data to prepare clients for audits and potential adjustments.
Managing Surplus Lines
He highlights the importance of realistic revenue projections and swing endorsements to prevent financial issues.
David concludes that these strategies help producers win business and deliver exceptional client service in a hard market.
Connect with:
David Carothers LinkedIn
Kyle Houck LinkedIn
Visit Websites:
Power Producer Base Camp
Killing Commercial
Crushing Content
Power Producers Podcast
Policytee
The Dirty 130
The Extra 2 Minutes -
In this episode of the Power Producers podcast, David Carothers speaks with Richard Stamets, Chief Commercial Officer of BluePond AI, about the transformative role of generative AI in commercial insurance. They discuss BluePond’s AI-driven solution, the Broker Co-Pilot, which has been designed specifically for insurance with functionalities for policy checking, quote comparison, underwriting submission ingestion, and claims ingestion. Richard shares insights into how BluePond’s generative AI technology not only automates and improves accuracy in policy comparison but also assists brokers by identifying selling behaviors and enhancing operational efficiency.
Key Points:
Generative AI Explained:
Large language models (LLMs) like BluePond’s AI go beyond simple data processing, understanding and generating complex insurance language.
Enhanced Productivity:
Automating policy reviews and comparisons means less time on tedious tasks, freeing brokers and CSRs to engage in more valuable work.
Adoption and Change:
While AI adoption has been slow due to industry hesitance, the technology is here to stay, much like the evolution of the internet. Agencies embracing it early will be positioned for long-term success.
Collaboration Over Competition:
New tech fosters collaboration among different firms, creating stronger, comprehensive solutions for brokers.
Connect with:
· David Carothers LinkedIn
· Richard Stamets LinkedIn
· Kyle Houck LinkedIn
Visit Websites:
· Power Producer Base Camp
· BluePond AI
· Killing Commercial
· Crushing Content
· Power Producers Podcast
· Policytee
· The Dirty 130
· The Extra 2 Minutes -
In this impactful episode of the Power Producers Shoptalk, David Carothers brings on guest Raghav Tana to discuss the personal challenges and profound purpose behind Raghav's initiative, the Little Sparks Project. This nonprofit organization aims to provide financial and emotional support to families of children with complex medical needs, sparked by Raghav’s experiences with his son, who was born with Apert Syndrome. David shares his own journey with his son Ethan, who has special needs, reflecting on the emotional and financial toll of ensuring adequate care. They discuss the importance of advocacy, community support, and how their personal hardships have led to a shared mission of helping others facing similar struggles. The episode highlights the upcoming Little Sparks Project gala in December, emphasizing the importance of donations and community involvement.
Key Points
Introduction to the Little Sparks Project
Purpose:
The Little Sparks Project was founded to assist families financially when they have children with medical complexities, alleviating some of the financial strain that comes with hospital stays, surgeries, and extra care for children under 12.
Inspiration:
Raghav shares how his son’s rare condition, Apert Syndrome, motivated him to start the organization. He and his wife realized how fortunate they were to afford the costs associated with his son’s care and wanted to help other families facing similar situations but lacking resources.
The Emotional and Financial Burdens of Special Needs Care
Emotional Toll:
David and Raghav talk openly about their experiences as fathers of children with special needs. They emphasize the importance of having a support system and the mental challenges that come with the “why me” question when navigating these situations.
Financial Costs:
The episode sheds light on the often-hidden financial burdens, from medical bills to daily expenses related to special needs care. For example, Raghav mentions spending over $42,000 in the first 14 months of his son’s life on healthcare-related costs, a financial load many families are unprepared for.
Advocacy and Support Networks
Importance of Advocacy:
David shares how he and his wife advocate for their son in school and medical environments, often facing challenges but ensuring he gets the resources he needs. This proactive approach in advocating for children is critical, and it’s something Little Sparks also aims to support.
Emotional Support:
Both David and Raghav emphasize that asking for help is not a weakness but a necessity. They encourage listeners going through similar situations to seek out emotional and social support, which is crucial for maintaining resilience.
The Little Sparks Gala
Event Details:
The Little Sparks Project is hosting a black-tie gala on December 19 at the State Room in Boston, with limited tickets remaining. The gala is a unique opportunity for supporters in the insurance and wider business community to come together, raise funds, and create awareness for the cause.
Impact and Support:
The gala will have a silent auction and speakers, with all proceeds going toward supporting families in need. Raghav and David encourage listeners who can't attend in person to contribute financially, helping provide resources for families facing similar journeys.
How to Support Little Sparks
For listeners who wish to make a difference, a donation link is available in the show notes, and every contribution, no matter the size, is meaningful. David stresses that financial support can significantly relieve families of financial stress, allowing them to focus on their children's needs without added financial anxiety.
Connect with:
David Carothers LinkedIn
Raghav Tana LinkedIn
Kyle Houck LinkedIn
Visit Websites:
Power Producer Base Camp
Killing Commercial
Little Spark (Donate & Support)
Get Your Tickets (Little Spark)
Crushing Content
Power Producers Podcast
Policytee
The Dirty 130
The Extra 2 Minutes -
In this episode of the Power Producers Podcast, David Carothers sits down with Steve Bruder from Foxen to discuss how Foxen integrates renters’ insurance compliance and risk management solutions into property management. The conversation highlights how property managers can use Foxen’s system to ensure compliance with insurance requirements, prevent gaps in coverage, and generate ancillary income through revenue sharing. Steve provides insights into how Foxen's innovative approach addresses the often-overlooked problem of tenants canceling insurance policies, which can leave property owners vulnerable to costly claims. This episode emphasizes how commercial insurance agents can leverage Foxen’s solutions to differentiate themselves in the habitational real estate space, improve client retention, and enhance the value they offer to clients managing larger property schedules.
Key Points:
Closing Renters Insurance Compliance Gaps
Foxen ensures consistent renters insurance compliance, protecting landlords from uninsured claims—an issue their founders faced firsthand.
Opportunity for P&C Agents
Foxen helps agents differentiate by providing a revenue-sharing model for property managers, making renewals easier and adding value beyond insurance.
Identifying Ideal Prospects
Ideal clients are property managers struggling with insurance compliance or uncovered claims. Foxen manages compliance to save time and reduce risk.
Efficient Claims Process
Foxen’s in-house claims team and digital system streamline the process, handling common issues like water or fire damage caused by tenant negligence.
Standing Out in a Hard Market
With rising premiums, Foxen enables agents to offer unique, risk management solutions instead of just cutting costs, creating a competitive advantage.
Additional Rent Reporting Services
Foxen also offers rent reporting, especially useful in states requiring landlords to report on-time rent payments, adding even more value for clients.
Connect with:
David Carothers LinkedIn
Steve Bruder LinkedIn
Kyle Houck LinkedIn
Visit Websites:
Power Producer Base Camp
Killing Commercial
Foxen
Crushing Content
Power Producers Podcast
Policytee
The Dirty 130
The Extra 2 Minutes -
In this episode of Power Producers Shoptalk, David Carothers provides a deep dive into effective prospecting tactics for insurance producers, challenging misconceptions about cold calling and outlining a comprehensive approach for sustained success. David highlights his recent experience with a 500-dial cold-calling challenge, underscoring the role of focused preparation and systematized tracking in lead generation success. He discusses the value of in-person marketing drops, HubSpot CRM's data insights, and the benefits of having a robust client database to streamline follow-ups and boost engagement.
Key Points:
Multi-Tool Approach:
David stresses that to excel in sales, producers must go beyond referrals and use diverse methods, like cold calling and in-person marketing, to fully realize potential. Relying on one strategy limits success.
Targeted, Data-Driven Cold Calling:
He calls only high-fit prospects (e.g., service contractors with 25+ vehicles, $5M+ sales) using precise lead scoring through HubSpot, allowing his team to time outreach for when leads are most engaged.
Structured Time and Focus:
Blocking distraction-free intervals (50 minutes for calls, 10 for follow-up) is key to staying productive and responsive without constant interruptions, especially for those with ADHD.
Unique Prospecting Advantage:
David identifies prospects using payroll companies for workers' comp, allowing him to offer benefits (like dividend options) those clients aren’t receiving, giving him a competitive edge.
Tracking and Measuring Success:
Using a CRM, David captures all prospect interactions, creating historical records that improve targeting and help track outreach impact.
Challenge to Cold-Calling Skeptics:
David argues that detractors of cold calling likely aren’t implementing it effectively. With research-backed strategies, he demonstrates cold calling’s value and promises updates on his results to let the numbers prove it.
Connect with:
David Carothers LinkedIn
Kyle Houck LinkedIn
Visit Websites:
Power Producer Base Camp
Killing Commercial
Crushing Content
Power Producers Podcast
Policytee
The Dirty 130
The Extra 2 Minutes -
In this episode of the Power Producers Podcast, David Carothers interviews Ray Gage, a veteran of the insurance industry who transitioned into mindful business coaching. Ray shares insights from his decades-long career in insurance, including selling his agency and the emotional challenges that followed. The conversation explores the often-overlooked emotional side of agency sales, leadership, and the impact of mindfulness in both personal and professional lives. Ray also discusses his upcoming book "Start with Stop", which focuses on the power of stopping to reassess and transform one’s approach to business and life. The book offers 16 chapters, each addressing a distinct area of improvement such as leadership, time management, and communication, allowing readers to find practical transformations tailored to their needs.
Introduction and Background:
David introduces Ray Gage, a veteran in insurance since 1980, who now focuses on mindful business coaching and is releasing a book titled Start with Stop in December. Ray reflects on his journey, from agency ownership to transitioning into coaching, aiming to guide others with the knowledge he’s gained.
Selling an Agency: Overlooked Challenges:
Ray shares insights from selling his agency, explaining the unexpected emotional challenges that followed. He advises those considering a sale to seek advice from others who’ve gone through it to prepare for the potential impact.
Mindful Business Coaching:
Ray’s coaching emphasizes self-awareness, showing how personal responsibility and mindfulness affect professional and personal growth. He advocates intentionality and self-care to foster a balanced, productive life.
Start with Stop – Rethink Your Routine:
The book is structured with 16 standalone chapters, allowing readers to focus on specific areas like time management or relationships. Ray’s goal is to help others accelerate their growth by breaking out of old patterns and developing sustainable, positive habits.
Breaking Familiar Patterns:
Ray discusses the “familiar zone,” where people stick to uncomfortable routines simply because they’re habitual. He stresses the importance of practicing new habits to achieve personal growth.
Detaching from Outcomes and Finding Purpose:
Ray and David touch on ‘detaching from outcomes’ to reduce stress, allowing people to focus on effort rather than results. Ray also emphasizes the importance of finding one’s purpose, as it provides clarity and motivation for long-term success.
Connect with:
David Carothers LinkedIn
Ray Gage LinkedIn
Kyle Houck LinkedIn
Visit Websites:
Power Producer Base Camp
Gage Bontrager Consulting
Start with Stop Book
Killing Commercial
Crushing Content
Power Producers Podcast
Policytee
The Dirty 130
The Extra 2 Minutes -
In this episode of Power Producers Shoptalk, David Carothers discusses the importance of shifting away from selling on price and focusing instead on the total cost of risk (TCOR). Carothers emphasizes that insurance producers must position themselves as trusted advisors by addressing not only insurance premiums but also uninsured losses, compliance costs, safety program investments, and indirect costs such as reputational damage and employee downtime. He offers five critical questions that producers can ask at the point of sale to differentiate themselves from competitors and provide value to their prospects by focusing on long-term risk management and business operations.
David highlights the power of understanding a client’s operations, recounting a personal experience where he helped a resort reduce their high workers' compensation mod by improving operational efficiencies. He stresses the importance of asking the right questions to uncover hidden risks and developing solutions that prevent losses, thus lowering long-term insurance costs. The episode concludes by encouraging producers to adopt a proactive approach, offer value-added services, and leverage their insights to establish deeper client relationships, especially in a hard market.
Key Points
Stop Selling on Price
Producers need to focus on total cost of risk (T-Core) instead of just competing on premiums. This strategy positions you as a trusted advisor and improves long-term risk management for clients.
Value of Power Producer Base Camp
The podcast introduces Power Producer Base Camp, a program for individual producers designed to provide support and coaching, distinct from the larger Killing Commercial platform.
Focus on Comprehensive Risk
Insurance premiums are only part of the overall cost of risk. T-Core includes uninsured losses, compliance costs, safety program investments, and indirect costs like reputational damage. Producers need to highlight the full scope of risks to add value.
Examples and Stories
Real-life examples, like identifying inefficiencies in a resort's housekeeping or missed opportunities in manufacturing, showcase how addressing T-Core improves business performance and mitigates risks.
Critical Questions to Ask:
What are your top operational risks?
How do losses and claims impact your business?
What risk management strategies are in place?
Have you evaluated the long-term costs of choosing lower insurance limits or excluding critical coverages?
Would you allow me to calculate your total cost of risk?
Addressing Objections
Clients may want to reduce insurance costs by adjusting limits or exclusions, but producers should help them understand the risks of doing so and propose solutions like raising deductibles instead.
Long-Term Client Relationships
By focusing on reducing T-Core, producers can establish long-term relationships with clients, creating fewer claims, lower uninsured losses, and more favorable premiums over time.
Differentiation and Execution
Producers must differentiate themselves from competitors by offering proactive solutions, implementing risk management strategies, and ensuring clients see them as trusted advisors.
Connect with:
David Carothers LinkedIn
Kyle Houck LinkedIn
Visit Websites:
Power Producer Base Camp
Killing Commercial
Crushing Content
Power Producers Podcast
Policytee
The Dirty 130
The Extra 2 Minutes -
In this episode of the Power Producers Podcast, David Carothers speaks with Matthew Bryan, a seasoned insurance professional from Tennessee. The conversation dives into Matthew’s unique journey from a background in broadcasting and finance to owning multiple insurance agencies. The discussion highlights how Matthew leveraged his experiences in banking and real estate to transition into commercial insurance, drawing parallels between commercial banking and insurance.
This episode is loaded with insights on everything from transitioning clients, finding your ideal prospects, to managing time efficiently as a business owner. Matthew’s personal story and his approach to building a sustainable lifestyle business are both powerful and inspiring.
Key Points:
Matthew's Background
Matthew Bryan shares his journey from growing up in a radio station, working in finance and commercial banking, to eventually owning an insurance agency. His background in banking provided insights into insurance, leading to agency acquisitions and long-term growth.
Building Relationships
Matthew emphasizes the importance of relationship building in Tennessee's competitive insurance market. He leverages conversations with business owners to ask in-depth questions, helping understand their needs and fostering strong client relationships.
Ideal Clients & Niches
The agency focuses on professional clients like lawyers, veterinarians, and chiropractors, targeting both commercial and personal lines. They avoid small, time-consuming accounts and aim to work with clients that align with their business goals.
Client Segmentation
The agency practices client segmentation to improve efficiency. By focusing on tiered clients (bronze to platinum), they aim to prioritize high-value accounts and refer smaller ones to other agents or service centers.
Work-Life Balance
Both Matthew and David highlight the importance of balancing business growth with personal life. Matthew values time with family and builds his business around personal priorities, while David shares how health scares led him to prioritize family time and intentional scheduling.
Collaborating with Competitors
Both emphasize the value of building relationships even with competitors, noting that referral networks can benefit everyone. Losing an account should not be taken personally but rather as part of the business process.
Efficient Time Management
The importance of time management is stressed, with both agreeing on outsourcing tasks that don't align with their hourly rates to free up time for high-value work and personal commitments.
Community Building
They discuss the benefits of networking with other agents and learning from each other's experiences, which helps foster growth, regardless of being competitors.
Connect with:
David Carothers LinkedIn
Matthew Bryan LinkedIn
Kyle Houck LinkedIn
Visit Websites:
Power Producer Base Camp
Killing Commercial
Bryan Insurance Group
Crushing Content
Power Producers Podcast
Policytee
The Dirty 130
The Extra 2 Minutes -
In this episode of Power Producers Shoptalk, David Carothers interviews Dustin Boss, co-founder of Emerge Apps. Dustin discusses how his experience as a producer led him to develop a suite of technology tools for agents, including OSHA compliance and risk management software. He shares insights into how these tools can help agents offer more than just insurance by focusing on compliance, safety, and risk management. This episode highlights creative ways to approach middle-market clients and the importance of leveraging technology to differentiate from competitors.
Key Points
Non-Insurance Engagement
Dustin emphasizes leading with value beyond insurance, such as compliance and safety solutions, to build deeper relationships with clients.
Emerge Apps Suite
Dustin's company offers several tools, including OSHA Logs and Automate Safety, that help agents open doors by providing compliance solutions, reducing client risks, and locking in retention.
Innovative Sales Approach
By working outside of traditional insurance renewal cycles and focusing on pain points like OSHA compliance, agents can subtly displace incumbent relationships and gain long-term clients.
Customization and Real-Time Insights
Tools like OSHA Logs allow agents to monitor clients' safety records in real-time, helping to prevent issues before they escalate into claims, which ultimately improves client retention.
Future of Risk Management
Emerge Apps continues to innovate with new products like Light Duty Works, aiming to offer comprehensive solutions for managing workplace safety and reducing claims.
Connect with:
David Carothers LinkedIn
Dustin Boss LinkedIn
Kyle Houck LinkedIn
Visit Websites:
Power Producer Base Camp
Emerge Apps
Killing Commercial
Crushing Content
Power Producers Podcast
Policytee
The Dirty 130
The Extra 2 Minutes -
In this episode of Power Producers Podcast, David Carothers interviews Lawson Condell, founder of Riskbly, a platform designed for commercial insurance agents to streamline risk management services. Lawson shares his journey from the Air Force and sales roles at ADP and Oracle to founding Riskbly. He created Riskbly to address inefficiencies in the commercial insurance process by providing agents with a white-labeled, customizable platform for managing policy documents, safety videos, risk management programs, and real-time insights.
Key Points
Riskbly's Inspiration
Lawson built Riskbly based on his experience in commercial insurance, aiming to simplify risk management and enhance communication between agents and clients through a unified platform.
What Sets Riskbly Apart
Riskbly is fully white-labeled and customizable, allowing agents to provide seamless risk management under their brand. It integrates policy documents, safety training, and HR resources in one platform, avoiding multiple systems.
Real-Time Insights
Agents can monitor clients' progress on risk management tasks in real time, ensuring proactive follow-up and ongoing support throughout the year, not just at renewals.
Tailored Risk Management Programs
Agents can assign specific programs to address client risks, such as safety or compliance issues, and track progress. This ensures clients follow through on risk reduction efforts.
Adoption and Client Engagement
Riskbly uses notifications, mobile access, and training content to drive client engagement. It can also be used as a prospecting tool by offering it to potential clients during the sales process.
Future Plans
Riskbly aims to integrate with other tech solutions and provide underwriters access to real-time client risk management data, potentially leading to better pricing and decisions.
Connect with:
David Carothers LinkedIn
Lawson Condell LinkedIn
Kyle Houck LinkedIn
Visit Websites:
Power Producer Base Camp
Killing Commercial
Riskbly
Crushing Content
Power Producers Podcast
Policytee
The Dirty 130
The Extra 2 Minutes -
This episode of the Power Producers Shoptalk, is focused on the use of digital marketing tools, specifically pixel tracking, retargeting, and video proposals, to enhance lead generation and sales conversions in the commercial insurance industry. The discussion emphasized the importance of quick follow-up on leads, the role of automation, and the critical need for a well-defined sales process when dealing with cold traffic. David Carothers and Chris Langille highlighted the use of pixels for tracking website visitors, remarketing strategies, and content creation to drive traffic to agency websites. The session also covered how personalized content, like blog posts and video proposals, can significantly boost sales, especially when paired with proper retargeting.
The call provided examples of retargeting through platforms like Facebook and Google, using video proposals via tools such as QuoteVids, and building custom audiences to drive more relevant traffic to an agency’s services. It also touched on the value of organic content over paid traffic in building long-term customer relationships.
Key Points:
Sales Process Efficiency
Quick follow-up is essential, especially for cold traffic. Agencies need a well-defined process for responding to leads immediately via phone or automation. Speed is key in converting cold leads into sales.
Remarketing with Tracking Pixels
Utilize tracking pixels (Facebook/Google) to retarget website visitors who don't complete a conversion. This helps keep your brand in front of potential clients and reduces overall advertising costs by focusing on people who’ve already shown interest.
Personalized Video Proposals (QuoteVids)
Use tools like QuoteVids to create and send personalized video proposals, allowing prospects to review quotes, download documents, and accept proposals. It improves client engagement and boosts closing rates by providing a more interactive experience.
Content Marketing as a Lead Generator
Long-form blog posts and relevant content attract organic traffic, generate leads, and provide value. Clients who engage with educational content are often higher-quality leads, as they've already built trust with your brand.
Case Studies for Social Proof
Showcasing real client success stories through digital case studies builds credibility. They provide proof of your expertise and effectiveness, encouraging new prospects to trust your services.
Outsource Paid Advertising
Paid ad campaigns require expertise. Agencies should focus on creating organic, value-driven content and leave the complexities of paid advertising, such as Google and Facebook ads, to professionals to maximize return on investment.
Balanced Automation and Personal Touch
Automating certain processes, like follow-ups, is important for efficiency, but maintaining a personal touch is key. Automation should not remove the human element, which is critical for building trust and strong client relationships.
Connect with:
David Carothers LinkedIn
Kyle Houck LinkedIn
Chris Langille LinkedIn
Visit Websites:
Power Producer Base Camp
Advisor Evolved
Killing Commercial
Crushing Content
Power Producers Podcast
Policytee
The Dirty 130
The Extra 2 Minutes - Laat meer zien
