Include the Auditor up Front | Shoptalk Series, Episode #22

In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck, discuss how to build good client and carrier relationships and the significance of the audit.

Episode Highlights:

• David mentions that they have been recording a lot of episodes since April. (1:33)
• David shares that he checked their podcast on iTunes and it got him thinking, maybe some people listened and they’ve made an impact on their life. (1:53)
• David shares one of the aspects that he learned over the course of the last eight months is that nobody knows how to onboard middle market accounts. (2:29)
• Kyle mentions that most only think about how to get the deal done, not necessarily what comes after that. (2:43)
• David shares some scenarios that he experienced, over the course of his career, that he recommends when working on middle-market accounts. (2:55)
• David mentions that as you’re having a kickoff meeting, you need to have people there, you need to have loss control people from the carrier, you need to have the underwriter, you need to have claims, and you need to have an audit. (3:26)
• David thinks that the audit is one of the tasks that a lot of people never think about. (3:37)
• David shares a story about something that happened to one of his accounts, how they resolved it, and hopefully everybody can learn from it. (5:22)
• Is there anybody out there that’s not familiar with extrusion? (6:27)
• David shares that based on his experience, there’s always somebody at the carrier who’s responsible for the audit. Whether they’re physically going out and auditing or not. (11:03)
• David mentions that you could learn a lot from participating in the audits. (13:57)

Tweetable Quotes:

• “Now listen, if this account is $25,000 in premium, even though we could classify that as the middle-market, that’s not really what we’re talking about, we’re talking about your jumbo one hundred and some thousand in premium plus, you really need to take a different angle in terms of how you do this.” – David Carothers
• “If you don’t have it coded right, and the auditor feels differently, you’re going have a difficult time winning that battle. So I like to bring somebody from audit in unless it’s absolutely vanilla right now.” – David Carothers
• “If you just sit there and ask a couple of questions to make it look like you know what you’re talking about, and do that to participate, you’re going to gain credibility like you couldn’t imagine with your client, but you’re also going to drive positive financial results for them too because you can eliminate a lot of back and forth by just being there when they do it.” – David Carothers

Resources Mentioned:

• David Carothers LinkedIn
• Kyle Houck LinkedIn
• Florida Risk Partners
• The Extra 2 Minutes