Chief of the Personal Lines World with Corey Schnabel, Episode #55

In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Cory Schnabel, Agency Owner at KC Insurance Group. Cory talks about how he got into the insurance industry and his transition from being an employee to acquiring his own agency.

Episode Highlights:

• David introduces Cory Schnabel. (1:33 )
• Cory mentions that he started in the insurance industry in 2008. (3:07)
• Cory shares that he was 23 years old when he started working with his friend at Allstate. When he discovered his ability in the people business, he decided to buy an agency. (3:30)
• Cory shares that they started gaining traction with the carriers and getting contracts in 2015, then went live, and opened their doors on January 1, 2016. (4:12)
• Cory shares that he felt they needed to figure out and focus on what they are good at and expand it. (6:13)
• Cory shares that he’s truly grateful that they became more successful on the independent side, as far as growth, revenue, retention, and more. (21:01)
• Cory shares that at his young age, he realized that he was good at selling insurance, good at building relationships to the point where, when he got acquired, he was the top 1 in the nation. (22:05)
• Cory mentions that when he sold his Allstate agency, he took the profit he made from it and transferred it to KC Insurance. (23:12)
• Cory thinks that a lot of agents focus on their commission. They should cut every penny out, don’t overpay people, and do everything they can to maximize their margins. (33:32)
• Cory mentions that they’re 98.6% personal lines, and it’s based on how they stumbled into the business. (41:55)
• Cory shares how his team is structured (47:14)
• Cory explains that his goal is to live financially free, to have a healthy family, and to implore his agents to be good people. (58:48)

Tweetable Quotes:

• “We’re just under five years in I don’t know at all, I never will know it all and I’m kind of okay with just walking in every day to a new fire to put out and it kind of keeps me on my toes. I get bored doing the same thing over and over.” – Cory Schnabel
• “It’s just hard work, and so, that’s kind of what we’ve kind of figured out with our industry or with our kind of niche market is, it’s hard work and you’ve got to kiss a lot of frogs before you find the princess.” – Cory Schnabel
• “I’m a team mentality, I tell every single one of my producers that I want them to be on track for six figures by year three, and I want to help them get that. I want to help them to get it. Guess what if they’re happy, they’re writing business, they’re making good money. The agency life is better, the agency attitudes better.” – Cory Schnabel
• “My goal is to live financially free to have a good healthy family, good healthy kids, but to implore my agents to be good people, and whether that good people means taking your grandma to lunch on her birthday or donating to the local veterans’ society. That’s who I want to bring in here.” – Cory Schnabel

Resources Mentioned:

• David Carothers LinkedIn
• Kyle Houck LinkedIn
• Florida Risk Partners
• The Extra 2 Minutes
• Cory Schnabel LinkedIn
• KC Insurance Group