In this episode of The Power Producers Podcast, David Carothers interviews Clayton Wood, Managing Partner at C.B. Wood Financial. Clayton discusses how claims are paid in the industry and how C.B. Wood Financial is helping brokers deliver savings.
Episode Highlights:
- Clayton explains that some clients and employees who go to the doctor to get a prescription or have surgery or imaging don’t know how much their claim will cost until they get the EOB. (2:31)
- Clayton discusses the several factors of how claims are priced. (3:09)
- Clayton highly recommends Marshall Allen’s book: Never Pay the First Bill because it provides a clear idea of how claims are paid in the industry. (8:27)
- Clayton explains C.B. Wood Financial’s big win-win solution for its clients, which has been a huge success. (9:40)
- David mentions that finding individuals who are specialists in things you don’t know about, in areas of coverage that you don’t represent every day, will lead to significant changes in your book of business. (13:50)
- David explains that he was never interested in bringing benefits into the agency because it moves too quickly (14:43)
Tweetable Quotes:
- “Glad we could help out some of these P&C brokers, learn how to help their plans, their client’s plans. And ultimately, if we can show them that there’s another strategy out there, they’re the hero, you know, that’s what we’re trying to do make your the P&C broker the hero and deliver a ton of savings” – Clayton Wood
- “Find the people that are the expert in the little things that you don’t know about in the areas of coverage that you don’t represent every single day. And that ultimately is what’s going to drive significant change in your book of business.” – David Carothers
Resources Mentioned: