Killing Commercial New Producers Call, A Glimpse Behind the Curtain | Shoptalk Series, Episode #118

In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss ways to address policy errors before they become a problem and the importance of getting to know your client’s needs before trying to sell them anything. 

Episode Highlights:

• David discusses two possible approaches to rectifying an erroneously drafted policy: one way is to proceed as usual, prepare a quote, and then present the client with the revised figures; the other way is to promptly address and rectify the issue. (1:39)
• David explains that it’s important to enlighten clients about the total cost of risk, which includes the soft costs related to claims and the transferring of risk to staffing companies. (8:06)
• David mentions the importance of thorough lead research and understanding your target demographic for effective insurance business marketing. (12:49)
• David explains that to set yourself apart as an agent, it’s helpful to ask clients about their decision-making process. (17:35)
• David mentions that in transactions where broker selection is key and clients often believe agents are in competition with one another, it’s crucial to clearly explain how your business operates and why choosing an agent for marketplace representation is a wise choice. (18:28)
• David discusses the value of developing a personal brand and how it can contribute to retaining clients. (24:45)
• David shares that increasing productivity often requires slowing down. (27:48)

Tweetable Quotes:

• “I want to make sure everybody’s very, very clear when you’re working on your business plan, and you’re starting to put your pipeline together, you know, you only need to do as much research as you need to do that step of the process.” – David Carothers
• “This is the question you’d have to ask every time because it’s going to open you up to be able to explain your process that other people aren’t going to get the opportunity. And it’s an easy question but many, many people never ask it when they go into a meeting. And that question is, “How do you make the decision of who you’re going to select to represent you in the marketplace?” That’s it.” – David Carothers
• “I tell my team all the time, you have to slow down in order to speed up. If you’re going too fast, you might feel activity, but you’re not getting productivity. You have to let the system play and respect the amount of time it takes to do this stuff.” – David Carothers

Resources Mentioned:

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