Facebook
Twitter
LinkedIn

In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck sit down with Clayton Wood, Managing Partner at C.B. Wood Financial. They discuss pharmacy benefits and how they work in the P&C world and why P&C agencies should have a conversation with their clients about benefits.

Episode Highlights:

  • Clayton explains that the purpose of this series of episodes is to help P&C brokers and listeners understand that cross-selling may add an extra revenue stream to their business. (3:42)
  • Clayton defines a pharmacy benefit manager in the industry. (4:22)
  • Clayton discusses the importance of having a transparent pharmacy benefit manager. (7:30)
  • Clayton mentions that some health care plans have a brilliant marketing strategy, but it is only to make employees pay more. (14:28)
  • David explains to the listeners why service fees are valuable. (19:13)
  • Clayton explains that in the P&C world, prescriptions are a problem for small businesses with 50 to 150 employees, and it will be one of their largest percentages of claims. (21:37)
  • David believes that any P&C agency that does not even discuss benefits with its clients, whether they sell them or not, is allowing someone else to come in and have that conversation. (23:33)

Tweetable Quotes:

  • “What we’re doing here on this four-episode series or more, if we decide to do more is just to help the P&C brokers, the audience of this podcast, just understand, that there is a way to add an extra revenue stream to their business by cross-selling.” – Clayton Wood
  • “Putting a pharmacy benefit manager that’s transparent in is really important. Nowadays, there’s a special term for them, they’re called pass through PBM’s, which means they don’t add any spread to the drugs, and they pass on 100% of the rebates.” – Clayton Wood
  • “Any P&C agency out there right now, that is not even having a conversation with their clients about benefits, whether they sell them or not, is opening up an opportunity for somebody else to come in and have that conversation.” – David Carothers

Resources Mentioned:

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

Kyle Houck

marketing

Email Marketing Strategies That Actually Work for Insurance Agencies: From Segmentation to Conversions

Email marketing is often treated as an afterthought in the insurance industry. Producers focus on cold calling, referrals, and in-person meetings—but overlook one of the most powerful tools already sitting in their hands: their email list.

If you’re an insurance producer or agency principal and you’re not actively leveraging email marketing to drive revenue, retain clients, and expand your footprint, you’re missing a golden opportunity. When executed properly, email marketing delivers unmatched ROI, enables targeted cross-selling, builds credibility, and enhances retention—all at a fraction of the cost of other lead-generation tactics.

Read More »
Insurance

Beyond the Buzzwords: How Insurance Leaders Are Using AI, Voice Tech, and Community to Drive Real Innovation – A Conversation with Christopher Luiz

The insurance industry is evolving at a rapid pace, and the lines between technology, relationships, and service delivery are blurring more every day. As InsurTech continues to capture the attention of carriers, agents, MGAs, and startups alike, the challenge has shifted from finding new tools to figuring out which ones are actually worth using. Too often, insurance professionals are overwhelmed by noise—buzzwords like “AI-driven,” “revolutionary,” or “disruptive” are plastered across every product demo and sales pitch. But for forward-thinking insurance professionals, the real focus isn’t just on adopting the newest thing—it’s on building ecosystems where people and technology thrive together.

Read More »
Insurance

Solving Insurance Back Office Bottlenecks: How Automation and Compliance Tools Empower Agencies and MGAs

The insurance industry is undergoing a quiet transformation. While headlines often focus on the flashy front-end tools and direct-to-consumer disruption, the real revolution is happening behind the scenes — in the back office. From agency onboarding delays to outdated compliance workflows and manual licensing tasks, these friction points cost MGAs, carriers, and agencies valuable time, revenue, and relationships.

Read More »
Employee

Why Employee Ownership is the Key to Sustainable Agency Growth and Talent Retention

In an increasingly competitive commercial insurance landscape, agency owners are struggling to find long-term solutions for succession planning, talent retention, and business perpetuation. Many have considered private equity sales, others offer limited equity to top producers—but a growing number are discovering a more powerful alternative: the Employee Stock Ownership Plan (ESOP).

Read More »
Sales

How to Reverse Engineer Your Sales Funnel and Crush Your Q4 Insurance Production Goals

As we enter the fourth quarter, many commercial insurance producers begin to panic. Whether you’re behind on your goals or just trying to hit that final sprint, the Q4 crunch is real. But the producers who consistently win don’t treat Q4 as a Hail Mary. They plan with precision, reverse engineer their goals, and execute with ruthless consistency.

In this post, we’ll break down how you can reverse engineer your sales funnel, identify your revenue gaps, and finish the year stronger than you started. Whether you’re writing workers’ comp or cyber liability, these strategies apply across all middle market verticals.

Read More »
Killing Commercial Login