In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Elliot Bassett, Partner and Chief Operating Officer at Ellerbrock-Norris. Elliot shares how he developed “Launch“, a new tool for producers that fills a significant need in the industry and is critical for any producer or agency owner to consider.
Episode Highlights:
- Elliot explains that Ellerbrock-Norris is a 116-year-old company in Nebraska that implemented a new kind of sales procedure six or seven years ago. (3:37)
- Elliot mentions that those in insurances used to be able to differentiate themselves with a different carrier or a different program but that no longer is the case. (11:25)
- Elliot explains that agency owners and producers must focus on the value they provide outside of the insurance product. (17:54)
- Elliot shares that asking a better question will lead to an opportunity to add value. (21:12)
- Elliot mentions that he sees a lot of firms who want to improve their defined sales process, create more consistency, and know that by doing so, they will be able to differentiate and win more business from their clients. (26:32)
- Elliot explains how individuals should think about risk in terms of cyber security, as well as how they should think about onboarding and recruiting procedures. (35:08)
- Elliot discusses how to quantify the client’s risk and the importance of making it tangible. (47:45)
- Elliot mentions that the premium is often viewed as the scorecard by policyholders and shares why it’s important to give them something else to use as a scorecard. (53:01)
- Elliot argues that client preparation is an important factor in the sales process that is sometimes disregarded. (58:16)
Tweetable Quotes:
- “It’s just getting the message out of what we’re doing. We feel like we’ve built something that’s pretty cool that solves a pretty big need in the industry that people outside of us have.” – Elliot Bassett
- “We need to focus around, what is the value we’re bringing outside of the insurance product? Because as we just said, you know, outside of maybe Erie and auto owners, the carrier’s not the differentiator anymore, we have to build our value props.” – Elliot Bassett
- “I’m always happy to jump on and talk to people about, you know, the sales process in general about Launch. I just love getting this message out. I think it’s where the industry is going. I think we all need to be working towards that in our industry and looking forward to any of those discussions we want to have. ” – Elliot Bassett
Resources Mentioned: