• A Producer's Work Never Ends
    Nov 22 2024
    In this special Thanksgiving edition of Power Producers Shoptalk, David Carothers dives into the holiday season's challenges and opportunities. He shares strategies for staying proactive, avoiding complacency, and building a strong foundation for 2025. Reflecting on personal and professional growth, David emphasizes gratitude for the communities and partnerships that drive success. Key Points: Proactive Holiday Planning David stresses using the holiday season to assess goals, build pipelines, and prepare for market changes in 2025. Avoiding False Security Producers must avoid relying on temporary revenue increases and refocus on consistent prospecting. Investing in Relationships David highlights the "relational bank account" and the importance of nurturing connections during soft markets. SMART Goal-Setting Set measurable and actionable goals for 2025 while tracking daily activities to improve sales efficiency. Gratitude and Growth David shares his appreciation for the Power Producers community and his approach to fostering team development. 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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    18 mins
  • Talk to me Goose with Joe Ems
    Nov 20 2024
    In this episode of Power Producers Podcast, David Carothers spoke with Patrick McBride and Joe Ems from Sembley, a company offering innovative technology designed to simplify the commercial insurance quoting process. Joe explained the origins of Sembley, which was created to address common pain points in the industry, such as the tedious nature of filling out renewal forms and collecting client data. A standout feature discussed was Sembley’s user-friendly interface, affordable pricing, and integrations that improve efficiency. By leveraging custom intake forms, property data imports, and integration options with systems like Hawksoft and NowCerts, Sembley aims to streamline workflows for agencies, reduce back-and-forth with clients, and enable seamless data mapping across various forms. This technology allows agencies to focus on client relationships rather than manual tasks, making it particularly valuable for agents looking to enhance both client service and operational efficiency. Key Highlights: Introduction: David Carothers welcomes Patrick McBride as a guest host for this episode and introduces Joe Ems from Sembley, a tech company offering solutions for streamlining the insurance process. David shares initial skepticism about Sembley's low price point but emphasizes the quality and functionality of the product. Why Sembley?: Sembley stands out for its ease of use, user-friendly interface, and reasonable pricing. Patrick McBride discusses how his agency faced challenges with data ingestion and renewals using other technologies, which Sembley simplified with its integration capabilities and workflow support. Key Features of Sembley: Single Data Entry: Input client data once and map it across multiple forms, saving significant time. Custom Intakes and Forms: The platform supports tailored intake forms that clients can fill out, streamlining the quoting process. Client Portal and Automation: Automation and integration with other CRMs (e.g., HubSpot, Salesforce) help agencies manage client data more efficiently. Supplemental Applications: Sembley handles various supplementals and continues to add more based on user demand. User Experience: Patrick emphasizes the intuitive design, which makes it easy for agents to input data and for clients to fill out forms. Sembley has custom intake forms and a static link feature that allows agents to streamline the data collection process. Roadmap and Future Integrations: Joe shared upcoming developments, including integrations with NowCerts and HawkSoft, and improvements to property data retrieval. Sembley is also exploring advanced data mapping and potential AI functionalities to enhance automation. Insights on Industry Challenges: The conversation highlights the industry's common struggle with getting clients to complete long applications and forms. Sembley's solution simplifies this process by pre-filling data and allowing for minimal client input on updates or confirmations. Closing Remarks: Sembley offers a discount for listeners who book a demo and use the code "power producers." Both David and Patrick praised Sembley’s practical approach, value for smaller agencies, and how it bridges the gap between tech accessibility and affordability. Connect with: David Carothers LinkedIn Patrick McBride LinkedIn Joseph G. Ems LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp Sembley Killing Commercial Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    1 hr
  • Two Tricks for Contractors that Stand the Test of Time
    Nov 15 2024
    In this episode of Power Producers Shoptalk, David Carothers breaks down his top strategies for engaging contractors effectively. Drawing from real-world experience, David shares the key questions and approaches he uses to understand contractors’ needs and build trust. He emphasizes the importance of uncovering pain points related to certificates of insurance and audits, providing actionable insights on how producers can leverage these moments to win new business and strengthen client relationships. Key Points: Top Questions for Contractors David recommends asking about the certificate process and past audits to reveal pain points and spark meaningful conversations. Streamlining Certificates He shares how using a self-service certificate portal empowers clients and boosts efficiency. Audit Support David emphasizes attending audits to reassure clients and gain insights that improve service. Anticipating Needs Learning from auditors helps producers identify client needs and adjust strategies. Proactive Financial Planning David advises tracking payroll data to prepare clients for audits and potential adjustments. Managing Surplus Lines He highlights the importance of realistic revenue projections and swing endorsements to prevent financial issues. David concludes that these strategies help producers win business and deliver exceptional client service in a hard market. 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
  • Richard Stamets - Enabling Agencies with AI
    Nov 13 2024
    In this episode of the Power Producers podcast, David Carothers speaks with Richard Stamets, Chief Commercial Officer of BluePond AI, about the transformative role of generative AI in commercial insurance. They discuss BluePond’s AI-driven solution, the Broker Co-Pilot, which has been designed specifically for insurance with functionalities for policy checking, quote comparison, underwriting submission ingestion, and claims ingestion. Richard shares insights into how BluePond’s generative AI technology not only automates and improves accuracy in policy comparison but also assists brokers by identifying selling behaviors and enhancing operational efficiency. Key Points: Generative AI Explained: Large language models (LLMs) like BluePond’s AI go beyond simple data processing, understanding and generating complex insurance language. Enhanced Productivity: Automating policy reviews and comparisons means less time on tedious tasks, freeing brokers and CSRs to engage in more valuable work. Adoption and Change: While AI adoption has been slow due to industry hesitance, the technology is here to stay, much like the evolution of the internet. Agencies embracing it early will be positioned for long-term success. Collaboration Over Competition: New tech fosters collaboration among different firms, creating stronger, comprehensive solutions for brokers. Connect with: · David Carothers LinkedIn · Richard Stamets LinkedIn · Kyle Houck LinkedIn Visit Websites: · Power Producer Base Camp · BluePond AI · Killing Commercial · Crushing Content · Power Producers Podcast · Policytee · The Dirty 130 · The Extra 2 Minutes
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    48 mins
  • Sometimes We Need a Little Spark
    Nov 8 2024
    In this impactful episode of the Power Producers Shoptalk, David Carothers brings on guest Raghav Tana to discuss the personal challenges and profound purpose behind Raghav's initiative, the Little Sparks Project. This nonprofit organization aims to provide financial and emotional support to families of children with complex medical needs, sparked by Raghav’s experiences with his son, who was born with Apert Syndrome. David shares his own journey with his son Ethan, who has special needs, reflecting on the emotional and financial toll of ensuring adequate care. They discuss the importance of advocacy, community support, and how their personal hardships have led to a shared mission of helping others facing similar struggles. The episode highlights the upcoming Little Sparks Project gala in December, emphasizing the importance of donations and community involvement. Key Points Introduction to the Little Sparks Project Purpose: The Little Sparks Project was founded to assist families financially when they have children with medical complexities, alleviating some of the financial strain that comes with hospital stays, surgeries, and extra care for children under 12. Inspiration: Raghav shares how his son’s rare condition, Apert Syndrome, motivated him to start the organization. He and his wife realized how fortunate they were to afford the costs associated with his son’s care and wanted to help other families facing similar situations but lacking resources. The Emotional and Financial Burdens of Special Needs Care Emotional Toll: David and Raghav talk openly about their experiences as fathers of children with special needs. They emphasize the importance of having a support system and the mental challenges that come with the “why me” question when navigating these situations. Financial Costs: The episode sheds light on the often-hidden financial burdens, from medical bills to daily expenses related to special needs care. For example, Raghav mentions spending over $42,000 in the first 14 months of his son’s life on healthcare-related costs, a financial load many families are unprepared for. Advocacy and Support Networks Importance of Advocacy: David shares how he and his wife advocate for their son in school and medical environments, often facing challenges but ensuring he gets the resources he needs. This proactive approach in advocating for children is critical, and it’s something Little Sparks also aims to support. Emotional Support: Both David and Raghav emphasize that asking for help is not a weakness but a necessity. They encourage listeners going through similar situations to seek out emotional and social support, which is crucial for maintaining resilience. The Little Sparks Gala Event Details: The Little Sparks Project is hosting a black-tie gala on December 19 at the State Room in Boston, with limited tickets remaining. The gala is a unique opportunity for supporters in the insurance and wider business community to come together, raise funds, and create awareness for the cause. Impact and Support: The gala will have a silent auction and speakers, with all proceeds going toward supporting families in need. Raghav and David encourage listeners who can't attend in person to contribute financially, helping provide resources for families facing similar journeys. How to Support Little Sparks For listeners who wish to make a difference, a donation link is available in the show notes, and every contribution, no matter the size, is meaningful. David stresses that financial support can significantly relieve families of financial stress, allowing them to focus on their children's needs without added financial anxiety. Connect with: David Carothers LinkedIn Raghav Tana LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp Killing Commercial Little Spark (Donate & Support) Get Your Tickets (Little Spark) Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    51 mins
  • 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
    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
    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