In this episode of Power Producers Shoptalk, David Carothers welcomes back Kevin Ring, lead analyst at the Institute of WorkComp Professionals and one of the nation’s foremost experts on workers’ compensation. Kevin shares valuable insights into why leading with workers’ comp is a smart strategy for insurance agents, offering practical tips that agents can apply immediately to improve their game and better serve clients.
David and Kevin break down complex workers’ compensation topics into digestible, actionable advice — perfect for both new and seasoned producers looking to boost their understanding and results.
Kevin explains how workers’ compensation policies are simpler than most insurance lines, with consistent policy forms across carriers, making it easier for new producers to learn and sell effectively. He emphasizes the ability to clearly demonstrate the impact agents can have by lowering clients’ experience modification factors (mods).
The pair discuss how agents can show tangible ROI by improving clients’ workers’ comp programs, which can reduce premiums and directly enhance business profitability.
David and Kevin address the frustrations clients have when paying premiums without claims, clarifying how insurance works as a risk management tool rather than a savings account or investment.
Kevin highlights how a positive workplace culture reduces litigation and claims abuse, improving workers’ comp outcomes and client satisfaction.
Leading with workers’ comp allows agents to access valuable public data, such as experience mods, helping them target high-opportunity accounts and personalize outreach.
Kevin shares how focusing on workers’ comp can open doors to take over accounts incrementally, reducing client resistance to changing agents.
Agents can develop consultative selling skills in workers’ comp that transfer to other lines of business, moving beyond price-driven sales.
Kevin notes potential upcoming rate increases, such as in California, signaling a shift after a decade of rate declines and emphasizing the importance of staying informed.
Group captives have become one of the hottest topics in commercial insurance over the last several years, especially as we navigate one of the hardest
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