Episodes

  • Steve Bruder - Differentiation in the Land of Commoditization

    Steve Bruder - Differentiation in the Land of Commoditization
    Nov 6 2024
    In this episode of the Power Producers Podcast, David Carothers sits down with Steve Bruder from Foxen to discuss how Foxen integrates renters’ insurance compliance and risk management solutions into property management. The conversation highlights how property managers can use Foxen’s system to ensure compliance with insurance requirements, prevent gaps in coverage, and generate ancillary income through revenue sharing. Steve provides insights into how Foxen's innovative approach addresses the often-overlooked problem of tenants canceling insurance policies, which can leave property owners vulnerable to costly claims. This episode emphasizes how commercial insurance agents can leverage Foxen’s solutions to differentiate themselves in the habitational real estate space, improve client retention, and enhance the value they offer to clients managing larger property schedules. Key Points: Closing Renters Insurance Compliance Gaps Foxen ensures consistent renters insurance compliance, protecting landlords from uninsured claims—an issue their founders faced firsthand. Opportunity for P&C Agents Foxen helps agents differentiate by providing a revenue-sharing model for property managers, making renewals easier and adding value beyond insurance. Identifying Ideal Prospects Ideal clients are property managers struggling with insurance compliance or uncovered claims. Foxen manages compliance to save time and reduce risk. Efficient Claims Process Foxen’s in-house claims team and digital system streamline the process, handling common issues like water or fire damage caused by tenant negligence. Standing Out in a Hard Market With rising premiums, Foxen enables agents to offer unique, risk management solutions instead of just cutting costs, creating a competitive advantage. Additional Rent Reporting Services Foxen also offers rent reporting, especially useful in states requiring landlords to report on-time rent payments, adding even more value for clients. Connect with: David Carothers LinkedIn Steve Bruder LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp Killing Commercial Foxen Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    33 mins
  • David's Cold Calling Recap

    David's Cold Calling Recap
    Nov 1 2024
    In this episode of Power Producers Shoptalk, David Carothers provides a deep dive into effective prospecting tactics for insurance producers, challenging misconceptions about cold calling and outlining a comprehensive approach for sustained success. David highlights his recent experience with a 500-dial cold-calling challenge, underscoring the role of focused preparation and systematized tracking in lead generation success. He discusses the value of in-person marketing drops, HubSpot CRM's data insights, and the benefits of having a robust client database to streamline follow-ups and boost engagement. Key Points: Multi-Tool Approach: David stresses that to excel in sales, producers must go beyond referrals and use diverse methods, like cold calling and in-person marketing, to fully realize potential. Relying on one strategy limits success. Targeted, Data-Driven Cold Calling: He calls only high-fit prospects (e.g., service contractors with 25+ vehicles, $5M+ sales) using precise lead scoring through HubSpot, allowing his team to time outreach for when leads are most engaged. Structured Time and Focus: Blocking distraction-free intervals (50 minutes for calls, 10 for follow-up) is key to staying productive and responsive without constant interruptions, especially for those with ADHD. Unique Prospecting Advantage: David identifies prospects using payroll companies for workers' comp, allowing him to offer benefits (like dividend options) those clients aren’t receiving, giving him a competitive edge. Tracking and Measuring Success: Using a CRM, David captures all prospect interactions, creating historical records that improve targeting and help track outreach impact. Challenge to Cold-Calling Skeptics: David argues that detractors of cold calling likely aren’t implementing it effectively. With research-backed strategies, he demonstrates cold calling’s value and promises updates on his results to let the numbers prove it. Connect with: David Carothers LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp Killing Commercial Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    31 mins
  • Ray Gage - Start with Stop

    Ray Gage - Start with Stop
    Oct 30 2024
    In this episode of the Power Producers Podcast, David Carothers interviews Ray Gage, a veteran of the insurance industry who transitioned into mindful business coaching. Ray shares insights from his decades-long career in insurance, including selling his agency and the emotional challenges that followed. The conversation explores the often-overlooked emotional side of agency sales, leadership, and the impact of mindfulness in both personal and professional lives. Ray also discusses his upcoming book "Start with Stop", which focuses on the power of stopping to reassess and transform one’s approach to business and life. The book offers 16 chapters, each addressing a distinct area of improvement such as leadership, time management, and communication, allowing readers to find practical transformations tailored to their needs. Introduction and Background: David introduces Ray Gage, a veteran in insurance since 1980, who now focuses on mindful business coaching and is releasing a book titled Start with Stop in December. Ray reflects on his journey, from agency ownership to transitioning into coaching, aiming to guide others with the knowledge he’s gained. Selling an Agency: Overlooked Challenges: Ray shares insights from selling his agency, explaining the unexpected emotional challenges that followed. He advises those considering a sale to seek advice from others who’ve gone through it to prepare for the potential impact. Mindful Business Coaching: Ray’s coaching emphasizes self-awareness, showing how personal responsibility and mindfulness affect professional and personal growth. He advocates intentionality and self-care to foster a balanced, productive life. Start with Stop – Rethink Your Routine: The book is structured with 16 standalone chapters, allowing readers to focus on specific areas like time management or relationships. Ray’s goal is to help others accelerate their growth by breaking out of old patterns and developing sustainable, positive habits. Breaking Familiar Patterns: Ray discusses the “familiar zone,” where people stick to uncomfortable routines simply because they’re habitual. He stresses the importance of practicing new habits to achieve personal growth. Detaching from Outcomes and Finding Purpose: Ray and David touch on ‘detaching from outcomes’ to reduce stress, allowing people to focus on effort rather than results. Ray also emphasizes the importance of finding one’s purpose, as it provides clarity and motivation for long-term success. Connect with: David Carothers LinkedIn Ray Gage LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp Gage Bontrager Consulting Start with Stop Book Killing Commercial Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    53 mins
  • Stop Selling on Price!

    Stop Selling on Price!
    Oct 25 2024
    In this episode of Power Producers Shoptalk, David Carothers discusses the importance of shifting away from selling on price and focusing instead on the total cost of risk (TCOR). Carothers emphasizes that insurance producers must position themselves as trusted advisors by addressing not only insurance premiums but also uninsured losses, compliance costs, safety program investments, and indirect costs such as reputational damage and employee downtime. He offers five critical questions that producers can ask at the point of sale to differentiate themselves from competitors and provide value to their prospects by focusing on long-term risk management and business operations. David highlights the power of understanding a client’s operations, recounting a personal experience where he helped a resort reduce their high workers' compensation mod by improving operational efficiencies. He stresses the importance of asking the right questions to uncover hidden risks and developing solutions that prevent losses, thus lowering long-term insurance costs. The episode concludes by encouraging producers to adopt a proactive approach, offer value-added services, and leverage their insights to establish deeper client relationships, especially in a hard market. Key Points Stop Selling on Price Producers need to focus on total cost of risk (T-Core) instead of just competing on premiums. This strategy positions you as a trusted advisor and improves long-term risk management for clients. Value of Power Producer Base Camp The podcast introduces Power Producer Base Camp, a program for individual producers designed to provide support and coaching, distinct from the larger Killing Commercial platform. Focus on Comprehensive Risk Insurance premiums are only part of the overall cost of risk. T-Core includes uninsured losses, compliance costs, safety program investments, and indirect costs like reputational damage. Producers need to highlight the full scope of risks to add value. Examples and Stories Real-life examples, like identifying inefficiencies in a resort's housekeeping or missed opportunities in manufacturing, showcase how addressing T-Core improves business performance and mitigates risks. Critical Questions to Ask: What are your top operational risks? How do losses and claims impact your business? What risk management strategies are in place? Have you evaluated the long-term costs of choosing lower insurance limits or excluding critical coverages? Would you allow me to calculate your total cost of risk? Addressing Objections Clients may want to reduce insurance costs by adjusting limits or exclusions, but producers should help them understand the risks of doing so and propose solutions like raising deductibles instead. Long-Term Client Relationships By focusing on reducing T-Core, producers can establish long-term relationships with clients, creating fewer claims, lower uninsured losses, and more favorable premiums over time. Differentiation and Execution Producers must differentiate themselves from competitors by offering proactive solutions, implementing risk management strategies, and ensuring clients see them as trusted advisors. Connect with: David Carothers LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp Killing Commercial Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    27 mins
  • Matthew Bryan - Ideal Prospects Lead to the Ideal Life

    Matthew Bryan - Ideal Prospects Lead to the Ideal Life
    Oct 23 2024
    In this episode of the Power Producers Podcast, David Carothers speaks with Matthew Bryan, a seasoned insurance professional from Tennessee. The conversation dives into Matthew’s unique journey from a background in broadcasting and finance to owning multiple insurance agencies. The discussion highlights how Matthew leveraged his experiences in banking and real estate to transition into commercial insurance, drawing parallels between commercial banking and insurance. This episode is loaded with insights on everything from transitioning clients, finding your ideal prospects, to managing time efficiently as a business owner. Matthew’s personal story and his approach to building a sustainable lifestyle business are both powerful and inspiring. Key Points: Matthew's Background Matthew Bryan shares his journey from growing up in a radio station, working in finance and commercial banking, to eventually owning an insurance agency. His background in banking provided insights into insurance, leading to agency acquisitions and long-term growth. Building Relationships Matthew emphasizes the importance of relationship building in Tennessee's competitive insurance market. He leverages conversations with business owners to ask in-depth questions, helping understand their needs and fostering strong client relationships. Ideal Clients & Niches The agency focuses on professional clients like lawyers, veterinarians, and chiropractors, targeting both commercial and personal lines. They avoid small, time-consuming accounts and aim to work with clients that align with their business goals. Client Segmentation The agency practices client segmentation to improve efficiency. By focusing on tiered clients (bronze to platinum), they aim to prioritize high-value accounts and refer smaller ones to other agents or service centers. Work-Life Balance Both Matthew and David highlight the importance of balancing business growth with personal life. Matthew values time with family and builds his business around personal priorities, while David shares how health scares led him to prioritize family time and intentional scheduling. Collaborating with Competitors Both emphasize the value of building relationships even with competitors, noting that referral networks can benefit everyone. Losing an account should not be taken personally but rather as part of the business process. Efficient Time Management The importance of time management is stressed, with both agreeing on outsourcing tasks that don't align with their hourly rates to free up time for high-value work and personal commitments. Community Building They discuss the benefits of networking with other agents and learning from each other's experiences, which helps foster growth, regardless of being competitors. Connect with: David Carothers LinkedIn Matthew Bryan LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp Killing Commercial Bryan Insurance Group Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    51 mins
  • Displacing The Incumbent with Risk Management Tools

    Displacing The Incumbent with Risk Management Tools
    Oct 18 2024
    In this episode of Power Producers Shoptalk, David Carothers interviews Dustin Boss, co-founder of Emerge Apps. Dustin discusses how his experience as a producer led him to develop a suite of technology tools for agents, including OSHA compliance and risk management software. He shares insights into how these tools can help agents offer more than just insurance by focusing on compliance, safety, and risk management. This episode highlights creative ways to approach middle-market clients and the importance of leveraging technology to differentiate from competitors. Key Points Non-Insurance Engagement Dustin emphasizes leading with value beyond insurance, such as compliance and safety solutions, to build deeper relationships with clients. Emerge Apps Suite Dustin's company offers several tools, including OSHA Logs and Automate Safety, that help agents open doors by providing compliance solutions, reducing client risks, and locking in retention. Innovative Sales Approach By working outside of traditional insurance renewal cycles and focusing on pain points like OSHA compliance, agents can subtly displace incumbent relationships and gain long-term clients. Customization and Real-Time Insights Tools like OSHA Logs allow agents to monitor clients' safety records in real-time, helping to prevent issues before they escalate into claims, which ultimately improves client retention. Future of Risk Management Emerge Apps continues to innovate with new products like Light Duty Works, aiming to offer comprehensive solutions for managing workplace safety and reducing claims. Connect with: David Carothers LinkedIn Dustin Boss LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp Emerge Apps Killing Commercial Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    1 hr and 2 mins
  • Lawson Condell - Enabling Producers with Riskbly

    Lawson Condell - Enabling Producers with Riskbly
    Oct 16 2024
    In this episode of Power Producers Podcast, David Carothers interviews Lawson Condell, founder of Riskbly, a platform designed for commercial insurance agents to streamline risk management services. Lawson shares his journey from the Air Force and sales roles at ADP and Oracle to founding Riskbly. He created Riskbly to address inefficiencies in the commercial insurance process by providing agents with a white-labeled, customizable platform for managing policy documents, safety videos, risk management programs, and real-time insights. Key Points Riskbly's Inspiration Lawson built Riskbly based on his experience in commercial insurance, aiming to simplify risk management and enhance communication between agents and clients through a unified platform. What Sets Riskbly Apart Riskbly is fully white-labeled and customizable, allowing agents to provide seamless risk management under their brand. It integrates policy documents, safety training, and HR resources in one platform, avoiding multiple systems. Real-Time Insights Agents can monitor clients' progress on risk management tasks in real time, ensuring proactive follow-up and ongoing support throughout the year, not just at renewals. Tailored Risk Management Programs Agents can assign specific programs to address client risks, such as safety or compliance issues, and track progress. This ensures clients follow through on risk reduction efforts. Adoption and Client Engagement Riskbly uses notifications, mobile access, and training content to drive client engagement. It can also be used as a prospecting tool by offering it to potential clients during the sales process. Future Plans Riskbly aims to integrate with other tech solutions and provide underwriters access to real-time client risk management data, potentially leading to better pricing and decisions. Connect with: David Carothers LinkedIn Lawson Condell LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp Killing Commercial Riskbly Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    31 mins
  • Targeted Digital Leads

    Targeted Digital Leads
    Oct 11 2024
    This episode of the Power Producers Shoptalk, is focused on the use of digital marketing tools, specifically pixel tracking, retargeting, and video proposals, to enhance lead generation and sales conversions in the commercial insurance industry. The discussion emphasized the importance of quick follow-up on leads, the role of automation, and the critical need for a well-defined sales process when dealing with cold traffic. David Carothers and Chris Langille highlighted the use of pixels for tracking website visitors, remarketing strategies, and content creation to drive traffic to agency websites. The session also covered how personalized content, like blog posts and video proposals, can significantly boost sales, especially when paired with proper retargeting. The call provided examples of retargeting through platforms like Facebook and Google, using video proposals via tools such as QuoteVids, and building custom audiences to drive more relevant traffic to an agency’s services. It also touched on the value of organic content over paid traffic in building long-term customer relationships. Key Points: Sales Process Efficiency Quick follow-up is essential, especially for cold traffic. Agencies need a well-defined process for responding to leads immediately via phone or automation. Speed is key in converting cold leads into sales. Remarketing with Tracking Pixels Utilize tracking pixels (Facebook/Google) to retarget website visitors who don't complete a conversion. This helps keep your brand in front of potential clients and reduces overall advertising costs by focusing on people who’ve already shown interest. Personalized Video Proposals (QuoteVids) Use tools like QuoteVids to create and send personalized video proposals, allowing prospects to review quotes, download documents, and accept proposals. It improves client engagement and boosts closing rates by providing a more interactive experience. Content Marketing as a Lead Generator Long-form blog posts and relevant content attract organic traffic, generate leads, and provide value. Clients who engage with educational content are often higher-quality leads, as they've already built trust with your brand. Case Studies for Social Proof Showcasing real client success stories through digital case studies builds credibility. They provide proof of your expertise and effectiveness, encouraging new prospects to trust your services. Outsource Paid Advertising Paid ad campaigns require expertise. Agencies should focus on creating organic, value-driven content and leave the complexities of paid advertising, such as Google and Facebook ads, to professionals to maximize return on investment. Balanced Automation and Personal Touch Automating certain processes, like follow-ups, is important for efficiency, but maintaining a personal touch is key. Automation should not remove the human element, which is critical for building trust and strong client relationships. Connect with: David Carothers LinkedIn Kyle Houck LinkedIn Chris Langille LinkedIn Visit Websites: Power Producer Base Camp Advisor Evolved Killing Commercial Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    59 mins