Last Updated on: September 24, 2024

Levelling the Playing Field, Shoptalk Episode #153

Levelling the Playing Field
Facebook
Twitter
LinkedIn

In this episode of Power Producers Shoptalk, David Carothers dives deep into the strategies and tools independent insurance agencies can use to level the playing field against their larger national counterparts. He emphasizes the critical importance of conducting baseline risk assessments, leveraging tools like YellowBird for expert evaluations, and utilizing mod software for thorough experience modification factor analysis. David also highlights the game-changing benefits of Zenjuries for managing workers’ comp claims and the value of producer game plans for structured client engagement. With a strategic approach, he suggests budgeting 20% of revenue in the first year for risk management services and advocates for using video submissions to showcase the agency’s capabilities to underwriters. To round out the conversation, David promotes the Power Producer Base Camp as a vital resource for additional support and guidance.

 

Key Points:

Smart Tools for Competition

David Carothers introduces tools like YellowBird for outsourcing risk assessments, helping independent agencies compete with larger firms by offering expert services.

 

Investing in Risk Management

David suggests allocating 20% of revenue in the first year to risk management services, essential for delivering on promises and establishing strong client relationships.

 

Mod Software and Claims Management

He highlights the use of Mod Advisor for experience mod analysis and Zenjuries for efficient workers’ comp claims management, both crucial for agency success.

 

Structured Producer Training

David advocates for producer game plans and structured training programs to ensure consistent and effective client engagement.

 

Demonstrating Capabilities to Underwriters

He emphasizes the importance of using video submissions to showcase the agency’s capabilities, making a stronger impact on underwriters.

 

Power Producer Base Camp

David promotes the Power Producer Base Camp, a resource offering business planning, prospecting education, and peer support for producers.

 

Connect with:

Visit Websites:

 

The Power Producers Podcast where we are refining and redefining the sales game.

Kyle Houck

Insurance

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

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

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 »
Commercial

From Newcomer to Contender: What Commercial Insurance Producers Can Learn from Pam Seidler’s Middle-Market Journey

The commercial insurance industry is one of the few professions where someone can enter with no experience, no connections, and no background in risk management and still build a long, lucrative career. But success is never automatic. It requires hunger, humility, curiosity, and the willingness to keep showing up even when the process feels overwhelming. That is why the story of Pam Seidler has already started making waves among new and aspiring commercial producers.

Read More »
Insurance

How AI and Automation Are Reshaping Independent Insurance Agencies

In an industry where tradition often outweighs innovation, artificial intelligence and automation are slowly but steadily reshaping how independent insurance agencies operate. The push toward smarter, more efficient workflows is no longer a matter of if—but when. While many agencies are still evaluating how AI fits into their operations, early adopters are already reaping the benefits of streamlined submissions, faster processing, and actionable data insights.

Read More »

Test Message

Killing Commercial Login