In this episode of the
Power Producers Podcast,
David Carothers sits down with
Ted Stuckey, President of
Local Edge Brokerage, to discuss the evolution of the insurance market, especially for independent agents.
Ted shares insights on the challenges agencies face, especially as the market hardens, and how Local Edge offers a valuable solution for agents seeking market access and diversification. They dive into the importance of cultivating strong relationships with wholesalers and the advantages of rolling book business when direct carrier appointments are no longer feasible.
Ted also highlights
Local Edge’s commitment to empowering local agents with the right tools, guidance, and market access to thrive in today’s competitive market, while addressing common struggles agents face, such as losing contracts, acquiring new appointments, and gaining access to hard-to-get markets. This conversation provides practical advice for agencies looking to expand their commercial lines and better manage their carrier relationships.
Key Highlights:
Adapting to a Changing Market
Ted shares how Local Edge is evolving from its Nationwide Brokerage Solutions roots to become a key partner for local agencies, providing access to
sub-direct markets,
commercial lines, and
mid-market solutions.
Diversity of Carrier Access
The conversation covers how Local Edge offers
over 400 carriers for agents, ranging from
national and regional markets to niche, specialty lines. Ted emphasizes how they help agencies access hard-to-find carriers without the need for direct appointments.
The Value of a Wholesale Partner
Ted discusses how
working with a wholesaler like Local Edge can help agencies consolidate their market access and better serve their clients without getting overwhelmed by the volume of appointments needed.
Strategic Use of Wholesale Relationships
Ted highlights the importance of agents using wholesalers strategically, especially for
hard-to-place risks or accounts they’re not 100% sure about. He explains how wholesalers provide the flexibility to test markets without taking on too much risk.
Wind-Hail Deductible Buybacks
One of the most sought-after products currently is
wind-hail deductible buybacks, which Ted describes as a game changer for agents looking to help their clients reduce exposure to storm damage while maintaining affordability.
Building for the Future
Ted talks about how agents can build their business for long-term success by leveraging relationships with wholesalers and carefully selecting the right
admitted and non-admitted markets.
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