Episodes

  • Why the Valuation Date is Important with Kevin Ring

    Why the Valuation Date is Important with Kevin Ring
    Jun 6 2025
    In this Power Producers Podcast episode, David Carothers is joined again by Kevin Ring, lead analyst at the Institute of Work Comp Professionals. In this Shop Talk session, they take a deep dive into the crucial topic of the valuation date and its significance in workers’ compensation policies. While last week’s discussion highlighted the importance of leading with workers’ compensation, this episode shifts gears to discuss why understanding the valuation date is vital for businesses. David and Kevin unpack the complexities of the valuation date—what it means, why it matters, and how it can impact a company's experience mod. Kevin shares expert insights into how this date plays a central role in determining a company’s future workers' compensation premiums and why it’s essential to monitor open claims carefully. Key Highlights: What is the Valuation Date? Kevin explains that the valuation date is when insurers submit crucial data to the Rating Bureau, affecting a company's experience mod and future premiums. Impact of Open Claims Kevin discusses how open claims, even with high reserves, impact the experience mod just as much as settled claims. Timing of the Valuation Date The valuation date occurs 18 months after policy inception. Kevin highlights how policy changes affect this timing. Managing Claims for the Valuation Date Kevin emphasizes the importance of tracking open claims early and working with adjusters to ensure accurate reserve updates. Dividends and Profit Sharing Understanding the valuation date can impact eligibility for dividend programs and profit sharing, boosting business benefits. Agent’s Role in Claims David advises agents to be proactive in managing claims, educate clients, and collaborate with adjusters for better outcomes. Connect with: David Carothers LinkedIn Kevin Ring LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp Institute of WorkComp Professionals Killing Commercial Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    33 mins
  • From Insurtech to Relationships with Brett Fulmer

    From Insurtech to Relationships with Brett Fulmer
    Jun 4 2025
    In this episode of the Power Producers Podcast, David Carothers welcomes Brett Fulmer, principal of Newport Beach Insurance Center, for a dynamic conversation packed with insights on insurance, career growth, and community building. Brett shares his unique journey in insurance, his passion for innovation, and how he balances multiple roles with energy and focus. David and Brett discuss everything from navigating the evolving insurance market, the importance of value-added service, to the role of technology and AI in transforming agency workflows. They also dive into the power of the community within the industry, sharing stories of mentorship, peer support, and how brokers can thrive in a competitive environment. Key Highlights: Brett’s Insurance Journey Brett reflects on how a background in office relocation sales unexpectedly led him to insurance, highlighting the transferable skills and the unique “happy accident” that shaped his career path. The Value of Sales and Service The conversation covers the delicate balance between sales, relationship building, and genuine value addition, emphasizing why insurance is more than just a commodity. Building Community and Peer Support Brett shares how his group, Broker Brews, fosters connection and collaboration among agents, turning networking into meaningful relationships that extend beyond business. Tech and Innovation in Insurance Both David and Brett explore the impact of AI and insuretech, discussing practical tools that streamline policy review and compliance while freeing up account managers to focus on client relationships. Market Trends and Challenges Insights into Florida’s market conditions, the hard and soft markets, and how producers can position themselves strategically in a shifting landscape. Work-Life Balance and Family Brett opens up about balancing his busy career with family life, including preparing for a new addition and working alongside his children in the insurance business. Connect with: David Carothers LinkedIn Brett Fulmer LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp Newport Beach Insurance Center LLC Killing Commercial Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    41 mins
  • Why Agents Should Lead With Comp with Kevin Ring

    Why Agents Should Lead With Comp with Kevin Ring
    May 30 2025
    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. Key Highlights: Why Lead With Workers’ Comp? 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). Monetizing Workers’ Comp Success The pair discuss how agents can show tangible ROI by improving clients’ workers’ comp programs, which can reduce premiums and directly enhance business profitability. Common Misconceptions About Insurance 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. The Role of Company Culture Kevin highlights how a positive workplace culture reduces litigation and claims abuse, improving workers’ comp outcomes and client satisfaction. Data-Driven Prospecting Leading with workers’ comp allows agents to access valuable public data, such as experience mods, helping them target high-opportunity accounts and personalize outreach. Takeover Opportunities Kevin shares how focusing on workers’ comp can open doors to take over accounts incrementally, reducing client resistance to changing agents. Learning and Skill Development Agents can develop consultative selling skills in workers’ comp that transfer to other lines of business, moving beyond price-driven sales. Market Trends and Rate Changes 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. Connect with: David Carothers LinkedIn Kevin Ring LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp Institute of WorkComp Professionals Killing Commercial Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    24 mins
  • Resilience Should Be the Foundation of Every Insurance Conversation with Aris Papadopoulos

    Resilience Should Be the Foundation of Every Insurance Conversation with Aris Papadopoulos
    May 28 2025
    In this episode of the Power Producers Podcast, David Carothers sits down with Aris Papadopoulos, Chairman of the Resilience Action Fund and author of Resilientomics. Aris shares his unique perspective on resilience, from his experience as a 9/11 World Trade Center survivor to his passion for building stronger, more resilient homes and communities. Together, David and Aris explore how resilience is critical not just in construction, but in the insurance industry and beyond. Aris discusses his journey from the construction industry to founding the Resilience Action Fund and how he’s working to educate consumers on the importance of resilience in the built environment. The conversation touches on everything from the impact of poor construction standards to how insurance professionals can incorporate resilience into their strategy. This episode offers valuable insights for anyone looking to improve their understanding of resilient building and the role it plays in property protection. Key Highlights: The Resilience Action Fund Aris discusses the Fund’s mission to educate consumers about building resilient homes and the tools available on his website. Building Resilient Homes Aris explains why building to code is not enough and the importance of prioritizing structural resilience over cosmetic upgrades. Consumer Education Aris emphasizes the need for consumers to understand resilience and how the Fund is working to raise awareness. Insurance and Resilience Aris talks about the role of insurance professionals in educating clients on resilience and incentivizing better building practices. Challenges in the Building Industry Aris reflects on the slow pace of change in the construction industry and the resistance to adopting resilient practices. Technology in Construction Aris explores how technologies like 3D printing are impacting construction and their role in building more resilient homes. Connect with: David Carothers LinkedIn Aris Papadopoulos LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp Resilience Action Fund Killing Commercial Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    49 mins
  • Listening to Calls & Role Play

    Listening to Calls & Role Play
    May 23 2025
    In this final episode of Power Producers Shoptalk’s remote team series, David Carothers wraps up with the Insurance Futures team by focusing on a critical skill for producers and sales leaders alike: listening to calls and role-playing. Effective sales and leadership aren’t just about numbers, they’re about developing skills, refining approaches, and building confidence through practice. David, Jeremy Huerta, Michael Overstreet, and Caleb Walker share how call listening and role-play have transformed their teams by creating habits that lead to better sales conversations, more appointments, and stronger client relationships. Key Highlights: The Power of Repetition Through Role-Play Jeremy compares role-play to coaching his young son in basketball—practice and correction lead to mastery. The team agrees that consistent role-playing builds confidence and sharpens skills. Listening to Calls Reveals the Truth Michael emphasizes how listening to recorded calls helps identify strengths and weaknesses. It’s essential for coaching and ensuring salespeople deliver the right message and overcome objections effectively. Consistency and Bite-Size Coaching The team highlights the value of regular, focused listening sessions—breaking calls into manageable parts—and leveraging AI tools to analyze calls and provide actionable feedback. Using Role-Plays to Standardize Sales Approaches David and Jeremy discuss using structured role-play scenarios, often generated with tools like ChatGPT, to train sales reps on objection handling and core messaging, ensuring consistent, high-quality interactions. Holding Teams Accountable for Growth The group stresses the importance of accountability through listening and role-play. Teams that embrace this culture grow faster, build better client relationships, and scale more profitably. To download the call listening and role-play guides, CLICK HERE. Connect with: David Carothers LinkedIn Jeromy Huerta LinkedIn Michael Overstreet LinkedIn Caleb Walker LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp Insurance Future Heritage Killing Commercial Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    22 mins
  • Bridging the Insurance Talent Gap with Tony Canas

    Bridging the Insurance Talent Gap with Tony Canas
    May 21 2025
    In this episode of the Power Producers Podcast, David Carothers sits down with Tony Canas, Chief Motivational Officer at Insurance Nerds. The conversation takes some unexpected and fun turns, including Tony’s unique background, passion for insurance, and his journey into magic. It’s a lively and engaging discussion that blends business, culture, and personal development in the insurance industry. David and Tony dive deep into how insurance professionals can cultivate a strong company culture, the importance of understanding various roles within an agency, and how building relationships internally is just as important as externally. From career advice to innovative ways to stand out in the industry, this episode is packed with valuable insights. Key Highlights: Building Strong Agency Culture David and Tony explore the importance of understanding the various roles within an agency, including account managers and producers, and how a lack of understanding can lead to friction. They emphasize how strong internal relationships are key to agency success. The Role of the Producer David shares his perspective on the producer’s role in balancing sales and building genuine relationships. He explains why understanding the day-to-day of other roles can improve collaboration and drive success in the agency. Insurance Nerds & Career Growth Tony shares his unique journey within the insurance industry, from underwriter to recruiter, and how Insurance Nerds has grown into a valuable resource for insurance professionals. He discusses how the platform helps individuals navigate their careers and make informed decisions about their professional path. The Magic of Connections Tony talks about how his passion for magic has intertwined with his insurance career, using it as a tool to stand out at conferences and build stronger connections. It’s a fun and unique approach to networking! The Need for Diversity in Insurance The discussion touches on how the insurance industry needs to evolve, especially when it comes to diversity and inclusion. David and Tony reflect on the importance of understanding different perspectives and embracing diverse voices within industry. Connect with: Visit Websites:
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    51 mins
  • Keys to Effective Communication

    Keys to Effective Communication
    May 16 2025
    In this Power Producers Shoptalk episode, David Carothers returns for session five with the Insurance Futures team to tackle one of the most critical elements in managing a successful remote workforce: communication. Following four weeks of deep dives into building remote teams, this episode zeroes in on how effective communication can make or break your virtual agency’s culture and efficiency. David and his guests Jeremy Huerta, Michael Overstreet, and Caleb Walker discuss the challenges unique to remote communication—like delayed responses, misinterpreted messages, and the absence of face-to-face cues—and share practical strategies to establish clear, consistent, and intentional communication frameworks. They emphasize the importance of having structured communication protocols, standardized abbreviations, and response expectations so that the whole team is aligned and productive, no matter where they’re located. Key Highlights: Why Clear Communication Is EssentialDavid highlights how delayed or unclear communication can cause frustration and impact client service and sales outcomes in a remote setting. Consistent and transparent communication is vital to keep everyone on the same page. Setting Communication Guidelines and Hierarchy The team stresses the need to define who to contact for what and by which method—phone call, message, email, or quick acknowledgment—to prevent confusion and wasted time. Choosing and Sticking to a Communication Platform Jeremy and Michael explain the importance of picking one primary platform—like Microsoft Teams—and committing to it, even if it’s imperfect, to maintain consistency and avoid team frustration. Standardizing Language and Status Updates Using common abbreviations, uniform status indicators (like “BRB” or “Back”), and clear expectations around response times reduces misunderstandings and improves workflow across the virtual team. Leveraging Playbooks and Resources The team shares how they’ve created a comprehensive communication playbook and organizational clarity tools that staff can access anytime, ensuring everyone knows how and where to communicate efficiently. To download the communication playbook and organizational chart worksheet:Click here Connect with: Visit Websites:
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    18 mins
  • Unlocking the Power of Group Captives with Jason Duby

    Unlocking the Power of Group Captives with Jason Duby
    May 14 2025
    In this Power Producers Podcast episode, David Carothers is joined by Jason Duby, Captive Manager at Garnet Captive, to dive deep into the concept of captives and how they can provide valuable opportunities for businesses, particularly as the market continues to harden. Jason breaks down the intricacies of captive insurance, explaining how they work, who benefits, and what sets Garnet Captive apart from other options in the industry. David and Jason explore the different types of captives, the benefits of participating in one, and the financial implications for businesses that choose this route. The conversation also touches on the importance of risk management and the steps businesses need to take to set up and benefit from a captive insurance program. Key Highlights: What Is a Captive? Jason explains how businesses can form their own insurance group to manage risk, reduce costs, and potentially recoup unused premiums—highlighting the efficiency of group captives. Types of Captives They break down single-parent, group, homogeneous, and protected cell captives, explaining their structures and benefits for different business types. The Garnet Captive Edge Jason outlines Garnet’s faster distributions, lower upfront costs, and risk management support that help businesses see quicker returns. Financial Commitment They discuss the cost of joining a captive, including collateral and underwriting requirements for businesses with strong risk profiles. Risk Management & Claims Captives allow businesses to customize claims handling and implement tailored risk management strategies. Tips for Producers David and Jason advise producers on spotting good captive candidates and warning signs like poor loss history or price-focused buyers. Connect with: Visit Websites:
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    39 mins
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