Millionaire Insurance Producer

In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht discusses THREE things you absolutely need to get from your prospect if you decide to offer quotes, instead of being awarded a signed Broker of Record Letter on the current policies. Doing these three things will significantly strengthen your position to win, while not doing them is a dagger of death.

Episode Highlights:

• Charles mentions why constructive risk exists. (2:55)
• What issues does Charles face, when working with insurance agents? (5:44)
• Charles explains why he needs to invest more in stocks. (8:03)
• Charles shares the three things you need to do to better position yourself. (12:37)
• Charles mentions why being micromanaged is very important. (16:24)
• Charles explains why it’s unethical to go through a quoting process with multiple agents. (20:51)
• Charles shares why precision is important to guarantee a business relationship. (23:09)
• Charles mentions what happens when you can’t get those three things. (34:05)

Key Quotes:

• “When we go through a quoting process, we don’t actually dictate any terms with the insured with the prospect. In other words, we don’t establish the rules of the game.” – Charles Specht
• “You have a stock price with your prospects. It’s going up and down, based upon a lot of circumstances that not only you do directly, but also, based on what’s happening behind the scenes.” – Charles Specht
• “Everybody has to come in with their best rate. Otherwise, it’s just a free for all and you’re not in a very strong position there. You’ve got a weak stock price.” – Charles Specht

Resources Mentioned:

• Reach out to Charles Specht
• Permission Network Insurance Agency, Inc.