shoptalk
Facebook
Twitter
LinkedIn

In this episode of The Power Producers Podcast, David Carothers and guest co-host Josh Gurley discuss the challenges of navigating the hard market in the insurance industry, the importance of understanding reinsurance, and providing accurate information to underwriters. 

Episode Highlights:

  • David mentions that it’s essential to understand how to converse with clients and prospects about how the hard market comes to exist. (4:37)
  • David explains the impact of Auto Owners’ rate increases on clients and workflow in the agency and the need for producers to be proactive in educating clients about market conditions. (7:37)
  • David discusses the importance of using pictures and video in submissions to show that risks are being properly addressed and to build confidence with underwriters. (15:34)
  • David mentions that in his agency, they conduct a baseline risk assessment for every middle market account, and they create a risk management action plan that governs the relationship for the entire year. (20:26)
  • David discusses the importance of risk management in taking the best risk possible for the underwriter. (22:24)
  • David explains the importance of a complete submission, including target premium, loss history, and risk profile, to accurately articulate risk and help underwriters write profitable business. (24:51)
  • Josh believes that auditors are coming to the insurance industry because there are unearned premiums that are sitting out there as a potential asset for them. (31:04)

Tweetable Quotes:

  • “It’s important that we understand how to have the conversation with our clients and prospects about how the hard market comes to exist. Because we have to keep in mind that the people who buy from us hold us responsible for the ultimate outcome of whatever it is that happens.” – David Carothers
  • “One of the tactics I’ve always used though, is I like to include as many people from the chosen carrier on the front end and go into a meeting when we’re going to talk to them and learn not to close the deal to make sure that everybody’s you know, on board with what this risk looks like.” – David Carothers
  • “I love insurance companies, but we have to remember, you know, where our commission sit on their financials, you know? They don’t sit as an asset, they sit as a liability, you know? Contingent commissions, they sit as a liability on their balance sheet, unearned premiums, they sit as an asset, right?” – Josh Gurley

Resources Mentioned:

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

Kyle Houck

wholesale

Mastering Wholesale Partnerships: Submission Strategies, Underwriter Relationships, and Technology Tools for Middle-Market Success

In today’s competitive insurance marketplace, middle-market agencies must leverage every available advantage to win and retain business. One of the most underutilized yet powerful resources at an agent’s disposal is the wholesale market. By establishing strong partnerships with wholesalers, agents can access capacity, expertise, and proprietary programs that are often unavailable through direct channels. However, success in the wholesale arena requires more than simply submitting risks and hoping for the best.

Read More »
Client

How AI-Powered Workflows Are Transforming Sales, Marketing, and Client Communication

In the fast-paced world of commercial insurance, where every hour counts and every interaction matters, producers and agency owners are turning to artificial intelligence not as a replacement for human connection—but as a force multiplier. AI tools like ChatGPT are no longer just novelties or futuristic concepts. They are strategic business assets, helping commercial producers streamline workflows, scale personalization, and reclaim valuable time.

Read More »
Sales

How to Reverse Engineer Your Insurance Sales Goals with a Business Plan That Actually Works

Most commercial insurance producers fail not because they lack talent, but because they lack a plan. They enter the year with vague production targets—usually handed down from management—and hope that pure effort or luck will lead to success. But in the middle market, hope is not a strategy.

If you want to build a book of business that produces consistent results and long-term revenue, you need to think like a business owner. That means developing a business plan that is personal, measurable, and rooted in data. In this post, we’re going to show you how to reverse engineer your sales goals, simplify your sales pipeline, and build a weekly rhythm that supports growth without burnout.

Read More »
Captive

Overcoming Mental Roadblocks to Selling Captive Insurance: Strategies for Retaining High-Value Clients

When it comes to retaining large, high-value clients in the middle market, captive insurance should be one of the first solutions every producer considers. Yet many agents avoid the topic entirely—often for reasons that have less to do with the client’s needs and more to do with the producer’s own hesitations.

The truth? Failing to offer captives could cost you a $300,000 revenue client overnight. And in today’s competitive market, someone else will step in and take that account if you don’t.

In this post, we’ll break down the three biggest mental roadblocks holding agents back from selling captives, show you how to address them, and explain how to position yourself as the quarterback of the client relationship—while increasing your value and your compensation.

Read More »
Professional

Unlocking Professional Lines Growth: Cyber, D&O & EPL Strategies for Middle Market Producers

Middle market insurance producers face a “sleeping giant” opportunity in professional lines—namely cyber insurance, management liability (Directors & Officers and Employment Practices Liability), and broader professional liability coverages. Too often, these critical products are treated as afterthoughts, tacked onto a renewal packet rather than leveraged as strategic revenue drivers and client-retention tools. In this comprehensive guide, we’ll explore why professional lines deserve your full attention, how to overcome common obstacles, and which actionable strategies will unlock growth across your book of business.

Read More »
Killing Commercial Login