Agency Freedom

In this episode of Agency Freedom Podcast, James talks with Marit Peters, Executive Director of the Independent Insurance Agents of Texas, otherwise known as the Big I of Texas.Episode Highlights: Marit explains that one of the reasons she works for the industry is because she thinks of independent agents as being so gracious in their communities. (4:54) Marit shares the fundamentals of running a successful agency, including the importance of identifying those on your team that are dragging it down, and getting your metrics right. (12:00) Marit explains why it is important to look back on historical trends in order to be able to determine the things that did not work out. (15:52) Marit shares about the leadership book that she and her employees read called "The Dichotomy of Leadership." (23:07) Marit mentions that their goal at the Independent Insurance Agents of Texas is to make sure that the independent agency channel is healthy. (27:35) Marit explains how COVID has helped them become better at being reachable. (32:58) Marit discusses the impact of the advocacy work that the Independent Insurance Agents of Texas is involved in on a government level. (41:08) Marit shares that in a lot of rural communities a local presence makes a difference, but that may change in 10-20 years. (48:08) Marit discusses an organization called "Salt" that is trying to create a modern experience for the personal line space. (52:48) Marit shares that independent agents are critical to the communities, as they make sure that we are getting the right product. (56:18) Key Quotes: "I think the fundamentals are leadership and having the right courage to deal with difficult decisions, and making sure that you have the right people and hire people that are smarter than you and then trust them to do the work." - Marit Peters "I want to make sure that we're constantly hearing what people need and making sure that we're adjusting and that we have the courage to do it and we don't get stuck in that piece." - Marit Peters "If you are an agent out there that's not involved with an association, pick up the phone and call and explain why you're not. Because that is probably the best feedback an association can hear." - Marit Peters Resources Mentioned:Learn more about IIAT at https://www.iiat.org/.--Visit our website to join our email list, get the scoop on our LIVE coaching calls and never miss an episode: https://www.agencyfreedom.comConnect with Agency Freedom Podcast on Facebook at the Agency Freedom Podcast group: https://www.facebook.com/groups/agencyfreedomEmail us at podcast@agencyfreedom.com with ideas, questions, complaints or your favorite grilling recipe.

In this episode of Agency Freedom Podcast, James talks with Joshua Goodman, Director of Business Development for the Kansas Big I.Episode Highlights: Josh shares his background and what led him to his position at the Kansas Association of Insurance Agents (KAIA). (4:22) Josh explains that the reason he decided to leave State Farm was because he would not have been able to take over his father's book of business when that time came. (8:38) Josh shares how he started his own agency from scratch in 2010. (13:42) Josh shares how they explain to a client that your agency is no longer the best fit for their needs. (18:21) Josh explains that there is an art to communicating with your referral partners to get the types of referrals that you are looking for. (23:48) Josh shares the factors that led to his decision to sell the agency. (24:41)  Josh explains automation is one of the biggest differences in how things used to be done and how they are done now. (34:41) Josh shares that there is always this difficulty in hiring great talent, and it is one of the challenges he hears a lot from his members. (40:47) Josh discusses that one thing that agency owners should focus on is the claims experience and management of the claims. (43:42) Josh advises all agency owners, especially aspiring ones, to operate their business from an entrepreneurial perspective. (46:22) Key Quotes: "I had the entrepreneurial spirit, I wanted to work for myself and be my owner and State Farm agents are able to do that to a certain degree." - Josh Goodman "The agency owners that are going to win in the short term and long term are going to be digitally data-driven, and run their business as an entrepreneur, in my opinion." - Josh Goodman "If you're an agency owner or aspiring agency owner, operate your business more from an entrepreneur's perspective than an insurance agent who owns a small business and employs producers and a service team." - Josh Goodman Resources Mentioned:To learn more about the KAIA, visit their website at https://www.kaia.com/.--Visit our website to join our email list, get the scoop on our LIVE coaching calls and never miss an episode: https://www.agencyfreedom.comConnect with Agency Freedom Podcast on Facebook at the Agency Freedom Podcast group: https://www.facebook.com/groups/agencyfreedomEmail us at podcast@agencyfreedom.com with ideas, questions, complaints or your favorite grilling recipe.

In this episode of Agency Freedom Podcast, James talks with Andrew Correll, Director of Insurance Solutions with Security Scorecard.Episode Highlights: Andrew mentions that he began his career in the insurance market 10 years ago, mostly handling cyber insurance underwriting for technology and life sciences companies. (5:14) Andrew believes that it's up to all of us to learn the ins and outs of what we do, instead of just trying to sell a product to anyone who picks up the phone. (11:38) Andrew talks about where things are now with cyber insurance and data breach protection. (15:08) Andrew believes that the Security Scorecards platform was really made for Chief Information Security Officers (CISOs) and vendor risk managers. (24:33) Andrew discusses how the level of connection they want to have with clients is one of the major value additions from a security scorecard standpoint. (29:20) James explains how he starts putting together his cyber submissions, whether for a new customer or a renewal. (34:57) Andrew mentions that if you monitor your book of business throughout the course of a policy term, you'll have some great opportunities to create a strong connection. (38:53) As someone who will be selling cyber insurance, Andrew encourages everyone to adopt a "just enough to be dangerous" mentality and knowledge base when it comes to cyber. (51:27) Andrew discusses why it is important to build a connection and partnership with a local MSP. (54:32) Key Quotes: “It's incumbent upon all of us to kind of learn the ins and outs of what it is we're doing, versus just trying to sell a product to anyone who's going to pick up the phone. When you start getting away from the transactional approach and going into a relationship approach.” - Andrew Correll “In the cyber insurance market, we're utilizing a security scorecard as a way to kind of systematize part of your underwriting.” - Andrew Correll “If you're monitoring your book of business over the course of a policy period, you're going to have some really good opportunities to build a solid relationship.” - Andrew Correll Resources Mentioned:To learn more about Security Scorecard, visit their website at www.securityscorecard.com.--Visit our website to join our email list, get the scoop on our LIVE coaching calls and never miss an episode: https://www.agencyfreedom.comConnect with Agency Freedom Podcast on Facebook at the Agency Freedom Podcast group: https://www.facebook.com/groups/agencyfreedomEmail us at podcast@agencyfreedom.com with ideas, questions, complaints or your favorite grilling recipe.

In this episode of the Agency Freedom Podcast, James talks with Jason Johnson and Katherine Jones from Coterie Insurance.Episode Highlights: Katherine discusses her role as Director of Communications for Coterie. (4:49) Katherine and Jason explain that Coterie is a managing general agency and that they do not want to be a direct to consumer company. (7:56) Jason explains his role as the Director of Agency Experience as well as his philosophy within the company. (10:50) Katherine and Jason share their experience of letting go of talented people in order to balance the financial stability of the company. (15:04) Jason shares about their new products and services that are about to come out, like the technology they call "Simply Bind". (21:42) Katherine shares how grateful they are to agents and brokers, and opens up about their company's podcast. (28:15) Jason explains that Coterie is helping agents by focusing on speed, simplicity, and finding new ways to make sure that agents are capitalizing on their solutions to pain points that clients have. (32:16) Jason explains that bulk quoting is something that they are currently working on and developing at Coterie. (35:39) Katherine shares that they are always open to feedback. (38:22) Key Quotes: "Technically, we're a managing general agency…I just want to make that distinction and be accurate. But what we don't want to be, we don't want to be direct to consumer, right? We really believe in our agents and brokers, we believe in the relationships they have in their communities." - Katherine Jones "Coterie would not be where we are today without the amazing agents and brokers who have been with us since the very beginning." - Katherine Jones "It's why I love my job, right? I get to just outsource all the cool creative ideas from the agents and take them back to a bunch of brilliant minds who can make them happen." - Jason Johnson Resources Mentioned:Learn more about Coterie and how your office can get appointed at https://www.coterieinsurance.com.Visit our website to join our email list, get the scoop on our LIVE coaching calls and never miss an episode: https://www.agencyfreedom.comConnect with Agency Freedom Podcast on Facebook at the Agency Freedom Podcast group: https://www.facebook.com/groups/agencyfreedomEmail us at podcast@agencyfreedom.com with ideas, questions, complaints or your favorite grilling recipe.

In this solo episode of Agency Freedom Podcast, James talks about the possible benefits of being a producer instead of an agency principal.For many people, the producer career track may yield greater happiness, satisfaction, and personal wealth than the agency principal track.Episode Highlights: James explains that for some, depending on one's goal, and how they are wired to be in the industry, being a producer is better than an agency principal. (0:53) James shares that some benefits of being a producer are that there is no overhead and you are not paying any payroll because all you have is revenue. (02:53) James explains that as a producer, you don't worry about vendors, tech stack, and administrative things. (03:33) James shares why being a producer simply means having no distractions. (04:13) James shares that, as a producer, you can increase your personal revenue with ease and your proximity to your client is a huge advantage. (05:15) James shares that another advantage of being a producer is that you can easily define success. (07:23) James explains that the challenge of being a principal is the struggle to balance growth and cash flow. (08:04) James explains that another challenge of being a principal is the feeling of not having enough time. (09:04) James shares that, as a principal, it is your responsibility to manage interpersonal challenges. (12:00) James explains what shiny stuff syndrome is, and how it is a challenge for a principal. (13:57) James explains that his point is that sometimes,  being a producer is better than being a principal. (18:45) Key Quotes:  "As the principal. It's your responsibility to come to the office and create the work that needs to be done by other people on your team." - James Jenkins "If you don't have that roster of the up-and-coming talent, if you don't know who the next person is, who's going to win on your team, you are already at a deficit and your growth is going to be stunted." - James Jenkins  "If everybody is a boss, then there's no one to do the actual work. There's no one to handle the client relationships. There's no one to close the deal." - James Jenkins

In this episode of Agency Freedom Podcast, James talks with Erik Garcia, Certified Financial Planner and Investment Advisor with New Century Financial Group and the Founder of Plan Wisely Wealth Advisors. He is co-owner of Garcia Insurance Services in New Orleans. And, he is the co-host of the podcast Stuff About Money They Didn’t Teach You In School.Episode Highlights: Erik discusses what made him decide to enter the insurance industry. (11:16) Erik explains that there is a difference between gaining cash flow and business growth. (17:37) Erik tells business owners that they need to build their business as though they're going to sell it. (23:02) Erik shares that the thing that drives him most crazy in the industry is contracts and the process of getting them. (29:51) Erik discusses the captive agency he was with and the underwriting guidelines that had to be arranged when Katrina hit. (37:36) Erik debunks the myth that because you own a business, you have attained freedom. (40:47) Erik talks about every investment being a question of risk and offers examples. (45:05) Erik shares that the worst thing that can happen to you as a leader is to look back and realize no one is following. (55:28) Erik explains that the more you duplicate yourself in your business, the more freedom you gain. (58:58)   Key Quotes: "You know, the worst thing that can happen to you as a leader is to look back and no one's following you." - Erik Garcia, CFP®, BFA "I want to be known as a financial planner. That's the work I enjoy. It gives me life. It is fun, there's nothing more fun than seeing people make good decisions with their money from an investment standpoint." - Erik Garcia, CFP®, BFA "The more you duplicate yourself in your business, guess what? You just got freedom, you have just released yourself from a little bit more captivity because you are not needed." - Erik Garcia, CFP®, BFA Resources Mentioned:Learn more about Erik's office at https://www.plan-wisely.com.Visit our website to join our email list, get the scoop on our LIVE coaching calls and never miss an episode: https://www.agencyfreedom.comConnect with Agency Freedom Podcast on Facebook at the Agency Freedom Podcast group: https://www.facebook.com/groups/agencyfreedom

In this episode of Agency Freedom Podcast, James talks with Troy Smith, Retired Detective and Hostage Negotiator with the San Antonio Police Department. Troy is now with the Black Swan Group.Episode Highlights: Troy shares his background story and how he ended up joining the San Antonio Police Department as an officer and later as a hostage negotiator. (5:19) Troy discusses what led him to the Black Swan Group where hostage negotiation skills are applied in a business environment. (6:28) Troy shares the story of a powerful moment when he gave his badge to a young boy with terminal cancer who wanted to be in law enforcement one day. (9:06) Troy explains his day-to-day setup as a Black Swan coach and facilitator. (19:40) Troy shares that the foundation skills as part of the training are labeling, mirroring, and dynamic silence. (22:57) Troy shares how to use dynamic silence as a way to stay in the conversation and continue to get the information that you need. (29:54) Troy explains that if you are in any kind of negotiation, you have to learn to be patient and be willing to commit to it. (32:15) Troy discusses why they limit their coaching sessions to 1 or 2 per day. (41:40)  Troy shares how Chris spends his time on a day-to-day basis as he runs the business and makes important decisions. (45:16) Troy advises the listeners not to get consumed with how everybody is doing down the road, and instead, just give their best at the moment. (47:41) Key Quotes: "If you don't use the silence to give them the time, you start over talking, you start talking over them. And before they can give you an answer, you've already moved on to the next thing." - Troy Smith “If you're in a negotiation, you have to learn to be patient. This is something that you have to be willing to commit to.” -Troy Smith "When you start saying it’s is all about you, it's not about them any longer. And most people are going to get turned off by that." - Troy Smith Resources Mentioned:Learn more about the programs and live events from the Black Swan Group at https://www.blackswanltd.com.Visit our website to join our email list, get the scoop on our LIVE coaching calls and never miss an episode: https://www.agencyfreedom.comConnect with Agency Freedom Podcast on Facebook at the Agency Freedom Podcast group: https://www.facebook.com/groups/agencyfreedomEmail us at podcast@agencyfreedom.com with ideas, questions, complaints or your favorite grilling recipe.

In this episode of Agency Freedom Podcast, James shares the second part of a special on-location recording with members of the Killing Commercial mastermind.Episode Highlights: Alan Kinney shares that before entering the insurance industry, he attended engineering school and worked for IBM for seven years doing process management work. (4:53) Alan Kinney mentions that he has a strong process background, and Drew has a strong data background, both of which have helped them operate their agency. (5:57) Drew Kinney mentions that before entering the insurance industry, he worked for one of the top consulting firms. (6:58) Alan Kinney believes that there is some value in engaging in Big I or PIA. It is important to network with them and work with them since there are some things they are doing that have a direct influence on the bottom line that others are unaware of. (10:39) Jason Cass believes that no one can do what the Big I does in the legislative effort because they have relationships that no one else can make because they've been making them for decades. (14:07) James Jenkins and Alan Kinney discuss what it's like to be a member of the Big I or the PIA. (15:26) Alan and Drew Kinney discuss what it was like to be generational agents and work for an agency run by a family. (20:34) Jason Cass explains that when someone has an abundance mentality, the first thing they want to do is attempt to take the abilities they have and help someone else gain those skills. (33:46) Jason Cass shares that he has decided to shut down the whole agency for next year's Brainshare and bring his entire staff together. (42:30) According to Jason Cass, most agency owners were good salesmen. However, the majority of good agency owners were not salespeople. (47:52) Jason Cass discusses how the Agency Freedom podcast provides the most value to the listening community and what should happen next from his perspective. (49:39) Jason Cass discusses the reasons for his desire to work with multiple podcasters. (52:10) Key Quotes: “No one can match what the Big I does on the legislative effort because they have relationships and no one can recreate those relationships because they've been creating them for 40,50, and 60 years and that's where the Big I is a huge player in our life.” - Jason Cass “We've now built some depth into our agency. So, we can now bring some people in a very entry level position where they're learning the ropes and the ins and outs. And they have a career path to a more senior position where they're conducting these more complex count reviews.” - Drew Kinney “Most agency owners were good salespeople. But most agency owners that are good agency owners were not salespeople.” - Jason Cass Resources Mentioned:Learn more about Killing Commercial at https://www.killingcommercial.com.Catch up on all of Season 2 of The Protege show here: https://www.youtube.com/playlist?list=PL49Ufrhm-mQlXheQPUvlp7mDiZzc2jn7j--Visit our website to join our email list, get the scoop on our LIVE coaching calls and never miss an episode: https://www.agencyfreedom.comConnect with Agency Freedom Podcast on Facebook at the Agency Freedom Podcast group: https://www.facebook.com/groups/agencyfreedomEmail us at podcast@agencyfreedom.com with ideas, questions, complaints or your favorite grilling recipe.

In this episode of Agency Freedom Podcast, James shares a special on-location episode with members of the Killing Commercial mastermind.Episode Highlights: David Carothers explains that the major purpose of Killing Commercial Mastermind is to create a community of individuals who can rely on each other, learn from each other's experiences, and help each other improve. (4:52) James Jenkins recommends Killing Commercial to anyone searching for a community of commercial lines focused rockstars who are killing it in incredibly spectacular ways. (6:10) David Carothers mentions that the community has a lot of great things going on that will transform the financial futures of many families. (7:55) Doug Benz believes that establishing his agency in Buffalo was the smartest decision he's ever made. (11:38) Doug Benz explains how fantastic it is to talk to other individuals and hear about what you're doing in your agency. (13:11) David Carothers highlights how everyone in the community is upfront and honest about what they're doing well, what they're suffering, and what they could do better. (15:13) Dan Smith explains how the Killing Commercial mastermind helps him run his legacy agency. (21:44) Mike Carey shares what made him happy and at ease as a Killing Commercial mastermind member. (22:55) Justin Sloan explains how he met David Carothers and became involved in the community. (24:16) Dan Smith discusses their greatest success as a fourth-generation legacy agency. (28:55) Justin Sloane mentions that his agency recently merged with six other local businesses and are now more than just property-casualty. (31:22) Justin Sloan explains that during the first season of Protege, he had significant personal development. (35:32) Mike Carey mentions that the one thing they are successful at in their agency is ignoring rejection. (40:16) Dan Smith explains that the carrier selection process and procedures have been key to the success of his agency. (42:32) James Jenkins discusses his favorite feature of Key West as a first-time attendee. (45:56) Key Quotes: “Our real goal was to build a community of people that could rely on each other draw off of each other's experiences and make each other better.” - David Carothers “It's been exponential growth since I surrounded myself with David Carothers and others and like-minded people.” - Dan Smith “I'm really trying to grow the agency, with some of the captive partners coming in and saying - You know what, that model was great while it lasted. But the future is definitely independent channel. And you're seeing it from all the other captive carriers across the board.” - Justin Sloan Resources Mentioned:Learn more about Killing Commercial at https://www.killingcommercial.com.Catch up on all of Season 2 of The Protege show here: https://www.youtube.com/playlist?list=PL49Ufrhm-mQlXheQPUvlp7mDiZzc2jn7j–Visit our website to join our email list, get the scoop on our LIVE coaching calls and never miss an episode: https://www.agencyfreedom.comConnect with Agency Freedom Podcast on Facebook at the Agency Freedom Podcast group: https://www.facebook.com/groups/agencyfreedomEmail us at podcast@agencyfreedom.com with ideas, questions, complaints or your favorite grilling recipe.

In this episode of Agency Freedom Podcast, James talks with "Broker Brett" Fulmer, Ambassador for Finaeo, Evangelist for Smart Choice and startup consultant.Episode Highlights: Brett shares his background story and how he got started in the industry. (7:45) Brett talks about his team of six agents that he has recruited for SmartChoice. (12:26) Brett explains that he has been a P&C guy but he is enjoying learning about life insurance. (16:21) Brett explains the difference between the life cycle of life insurance compared to P&C. (20:20) Brett talks about the different digital life broker wholesalers and their advantages, as well as his personal choice, Finaeo. (26:26) Brett shares how fortunate he is to be a part of things that he has equity in and be able to build with his friends. (36:02) Brett advises the listeners to lever up their technology and reach further with their core competencies. (41:01) Brett shares the topics he is exploring writing a book on. (47:55) Brett asks James his thoughts on how to level up from a one to two-person operation, to a small business. (50:00) Brett explains why you always need people that will frankly tell you the truth in your life. (58:24) Key Quotes: "I feel so fortunate to be touching things I have equity in and to help build things with my friends. You know, I'm very intentional about not overlapping in trying to find complementary projects." - Brett Fulmer "I always say I try to be out there enough to open doors. But my goal isn't just to kind of make noise. You know, you still want to build effective, profitable companies. You still want to be successful. And it's been such a value add to be known in the community." - Brett Fulmer "I always say you need people close. Somebody always has to be able to call you a dummy you know, you need true speakers in your life." - Brett Fulmer Resources Mentioned:Learn more and connect with Brett at https://www.brokerbrett.com.Visit our website to join our email list, get the scoop on our LIVE coaching calls, and never miss an episode: https://www.agencyfreedom.comConnect with Agency Freedom Podcast on Facebook at the Agency Freedom Podcast group: https://www.facebook.com/groups/agencyfreedomEmail us at podcast@agencyfreedom.com with ideas, questions, complaints or your favorite grilling recipe.