Last Updated on: August 15, 2023
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In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck discuss the complexities of the middle-market insurance business.

Episode Highlights:

  • Kyle believes that when determining if a company is middle market, revenue is a more important factor than the number of employees. (2:41)
  • David mentions that segmentation of the middle market is important, as there are different levels within it and agents need to consider their carrier mix and risk tolerance when prospecting. (6:27)
  • Kyle discusses the importance of accurately representing your business to your insurance carrier to avoid potential coverage issues. (11:28)
  • David explains that understanding the risk profile and insurance needs of middle market companies is crucial, as their coverage requirements can be significant and complex, requiring educated decision-making and potentially assuming some of the risks themselves. (12:19)
  • David discusses the challenges of operating a middle market company versus a small commercial one, using a plumbing company as an example. (14:19)

Tweetable Quotes:

  • “I could have 100 employees, but our revenue is low because of our industry. And so I wouldn’t consider that middle market. I could have 10 employees, and we could do 5, 10 million in revenue. And I would consider that middle market, you know, so for me it’s revenue.” – Kyle Houck
  • “It’s important to know if you’re going to go into the middle market, or you want to even look to see what the opportunities are there understanding what the industries are that live in the middle market there, then you’ve got to overlay that with your carrier mix, because that’ll tell you whether or not you even have the ability to write coverage for these people. ” – David Carothers

Resources Mentioned:

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

Kyle Houck

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