Staying Nimble in the Hard Market with Andy Jeckells, Episode #284

In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Andy Jeckells, Co-CEO at I–RE. Andy discusses how I–RE is changing the game with Repaid – a product that offers clients a risk-and-reward plan for insurance coverage. 

Episode Highlights:

• Andy explains I–RE’s Repaid product helps high-performing mid-market clients turn premiums into profit by giving them control over their insurance coverage and letting them take on limited risk for a limited time. (8:23)
• Andy discusses their program called Repaid which offers clients a risk and reward plan for insurance coverage, allowing them to choose their level of risk and receive a refund of premiums paid. (13:32)
• Andy mentions that Repaid offers a unique way for producers to differentiate themselves in the homogenous insurance market, by allowing clients to take on their own risk and turn insurance into a profit center, resulting in long-term loyalty and increased lifetime value of high-profile clients. (22:34)
• Andy discusses the importance of a hands-on approach to risk management, with a direct impact on insurance premiums. (27:08)
• Andy believes that insurance is still a people business where building personal connections and asking in-depth questions leads to better results and identifies the best clients. (32:24)
• Andy mentions that the moment of truth in insurance is when people realize they could lose money and have to take risks, especially when it comes to high-risk industries like sawmills, where the environment and workforce management are crucial factors. (35:13)
• Andy shares that he is excited about I–RE’s upcoming developments in products and professional liability in the healthcare sector and that they are also working on expanding their coverage options to become a one-stop shop for brokers. (43:23)

Tweetable Quotes:

• “I think if you are a broker and you put your clients’ long-term interests first…if you can give them something that can really help them, they will not only buy from you, they will repay you with their long-term loyalty. And that’s what these products’ been designed to do.” – Andy Jeckells
• “What our program does for producers is something remarkable. Because we operate in a world where the product, the insurance product, is pretty much homogenous. No one has any differentiation.” – Andy Jeckells

Resources Mentioned:

• Andy Jeckells LinkedIn
• I–RE
• David Carothers LinkedIn
• Kyle Houck LinkedIn
• Florida Risk Partners
• The Extra 2 Minutes