Toggle Side Panel
Close search
Last Updated on: December 28, 2020

Overcoming Objections – I’m Happy With What I’m Paying

Look, I love it when people tell me they’re happy with what they’re paying for insurance. That tells me they don’t understand their total cost of risk. If you let that objection get in your way, you got a lot to learn and a long way to go.

Another objection that you may get when you’re reaching out to new prospects is, “I’m happy with what I’m paying right now.” Really? Are you? Let me ask you a question. Has anybody ever come in and done a total cost of risk calculation for your organization? Oh, no, they haven’t?

Identify the Problems

See, this is a common trap that we find many business owners and decision-makers get into because they’re focused on the premium. They concentrate on the price of a product, and they don’t realize the actual problem.  When we engage with a company, we come in, and we do a calculation for the total cost of risk, and that includes many things that you don’t even realize are leaking from your financial statements right now. Just a quick example for you is indirect costs to claims. Did you know that the Bureau of Labor Statistics says that for every dollar spent on direct costs inside of a worker’s compensation claim, that the indirect costs associated with that claim across the general industry nationwide is between two and 20 times the direct cost?

Move the Conversation From Premium

So you might be entirely happy with your premium. Quite honestly, in a guaranteed cost workers’ compensation program, that would make sense.  You don’t feel the pain of claims until your mod goes up, and then subsequently, you get a Consent to Rate, or you get a debited rate, depending on what state you’re in, as a result of your performance. See, there’s a lag there.  One of the things that you gain by being proactive and focusing on the total cost of risk is that you’re looking at way more than just what you’re paying in insurance premiums. Insurance premium is undoubtedly important, and it’s certainly a component of the total cost of risk, but it’s only one of five things that affect that. And if you only focus on one of five, which is 20% of the calculation, you’re missing out on 80%. Flip the script.

Defer the Insurance Conversation

I’d love to have the opportunity to come in and talk to you about the other 80%. We can talk about insurance later.   I’m not an insurance salesman; I’m a risk manager. I would highly recommend that if you’ve not had this done in the past, we spend 20, 30 minutes talking about it. And I can assure you; you’re going to see things that you didn’t realize were happening. It’s just the nature of the beast. It’s what we do.

Yes, I realize my message is different. Yes, I know you’re used to people coming in and selling you something or trying to sell you something. And yes, I realize that you’ve already in your mind lumped me into that same category, assuming that’s what I’m going to do. It’s not. That’s not how we operate. You have my word that I’m not going to try and sell you anything. I’m merely asking for 30 minutes of your time to show you why you shouldn’t be happy with what you’re currently paying right now.

Protege

From Contestant to Champion: Lessons from The Protege’s First Mentor Call

January 12, 2026 No Comments

You could feel it—every producer, coach, and guest mentor knew this was the official start of something special. The conversation wasn’t just about competition. It was about purpose, legacy, and growth.

Hosted by David Carothers, creator of The Protege and founder of Killing Commercial, this kickoff call set the tone for what Season 3 will represent: a proving ground for producers who are ready to work harder, think deeper, and build something that lasts.

Read More »
Insurance

From Med Device to Middle Market: Lessons on Sales, Risk Management, and Reinventing Yourself in the Insurance Industry

January 6, 2026 No Comments

Reinvention is one of the most powerful themes in the insurance industry. Some of the best commercial producers in the country did not grow up wanting to sell insurance. They did not study risk management in college. They did not come from an agency family. They found this industry after they tried something else. They found it after life pushed them toward a career where performance, autonomy, and mindset determine the outcome.

Read More »

From Executive Leadership to Field Underwriting: Lessons Producers Can Learn from Aaron Puchbauer’s Transition into Middle-Market Insurance

December 31, 2025 No Comments

The most successful producers in the middle market did not get there because they quoted faster, smiled bigger, or knew how to talk longer. They got there because they learned how to differentiate themselves so clearly that prospects had no choice but to see them as trusted advisors. They learned to operate like businesspeople first and insurance technicians second. They learned how to tie operational mechanics to insurance outcomes. They learned how to control their time, their pipeline, and their future.

Read More »

Responses

Report

Harassment or bullying behavior
Contains mature or sensitive content
Contains misleading or false information
Contains abusive or derogatory content
Contains spam, fake content or potential malware

Block Member?

Please confirm you want to block this member.

You will no longer be able to:

  • See blocked member's posts
  • Mention this member in posts
  • Invite this member to groups
  • Message this member
  • Add this member as a connection

Please note: This action will also remove this member from your connections and send a report to the site admin. Please allow a few minutes for this process to complete.

Report

You have already reported this .

Test Message

Killing Commercial Login