E68: Ted Stuckey On How NBS Is On Your Side

In this episode of Agency Freedom Podcast, James talks with Ted Stuckey, President of Nationwide Brokerage Solutions, a wholly owned subsidiary of Nationwide Insurance.

Episode Highlights:

• Ted shares what Nationwide Brokerage Solutions (NBS) are all about, and what they do to help the industry. (5:34)
• Ted explains that NBS focuses on areas where agents are struggling, and aims to zero out these challenges. (11:03)
• James shares that he is fascinated by how NBS is participating with so many carriers to serve a wide variety of niches. (20:01)
• Ted explains why they currently are not participating in the transportation side of the niche. (21:12)
• Ted shares how they ensure that clients are getting placed with the right coverages and carriers. (28:00)
• Ted discusses that there will always be a blindspot in an agency, and shares an example of theirs, which is the high-touch service. (32:13)
• Ted explains that the reason why they have a great relationship with underwriters and carriers is that they do the heavy lifting, and know when they are not a good fit. (40:55)
• Ted shares about their program called "Cadillac" and how they have been partnering up with Allianz. (46:16)
• Ted explains that if people are not intentionally focused on choosing a quote, they might end up being at risk in the end. (52:19)
• Ted shares that it is easy to grow a career quickly, but it is almost impossible to grow and do it profitably. (55:38)
• Ted recalls the greatest experience and knowledge he obtained with the previous companies he has been part of, including PNC and First Comp. (1:02:08)
• Ted advises listeners to always tap into what is currently happening in other markets around the globe. (1:09:21)
• Ted elaborates on the importance of finding the right partners for agents that are just getting started in the industry. (1:11:18)

Key Quotes:

• "I learned early in my career, that it's pretty darn easy to grow a carrier really quickly. And it's next to impossible to grow quickly and do it profitably." - Ted Stuckey
• "Don't be a hero, it's not worth it, you find those partners link up arm and arm and grow alongside them. And the best partners are the ones that will let you go once you get to a certain size." - Ted Stuckey
• “We’ve all got to do our part to move the industry forward. And the more that we can not only meet the customer's expectations but then exceed them, the more we can get out of this sort of proverbial laughingstock of an analog world that we find ourselves in so often." - Ted Stuckey

Resources Mentioned:

To learn more about NBS, visit their website at https://nbsbrokerage.com/

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