In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck are joined by Josh Gurley. They discuss how to drive wedges and how to get along symbiotically with payroll companies.

Episode Highlights:

  • David mentions that payroll companies are a huge source of income in their agency. (1:45)
  • Kyle shares what he sees on policies that are done through payroll companies. (3:34)
  • Josh shares that he thinks payroll companies don’t pay attention to credit because they’re not in the business of workers’ compensation. (11:04)
  • David mentions that how you work with payroll companies is important because they can be a very good referral source.  (19:05)
  • David explains why payroll companies are not competing for workers’ comp (20:48)
  • Kyle shares that there have been a number of times in the past where he worked with payroll reps that referred a decent amount of business. (22:45)
  • Josh shares that they hired a VA at their office for personal lines, and how it is working out. (27:22)
  • David mentions that there will be a big announcement in the next episode. (29:27)

Tweetable Quotes:

  • “The thing is, every carrier, they have that one special tier, that secret thing that they don’t tell anybody about, that they pull out every now and again…and so whenever they tell you, ‘hey, we’re at our best deal’, usually, they have that kind of one extra gear that they can put the account into” – Josh Gurley
  • “We have a responsibility to our clients, that is undeniable. But we also have a responsibility to our carriers. I mean, we’re responsible for bringing them good risk, we’re responsible for hitting our loss ratios with them, and also our production goals.” – David Carothers
  • “If you have a clean account, and they have 0% credit, and the carriers file for 40%, then the question is why are you not getting any credit? And you could be getting up to 40%. But I think a lot of times, that’s what you get with the payroll companies is they don’t know” – Josh Gurley

Resources Mentioned:

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

Kyle Houck