Millionaire Insurance Producer

Millionaire Insurance Producer

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The Millionaire Insurance Producer podcast is the top podcast for insurance producers who want to quote less and win more often. Charles was a producer with a $1,000,000+ Book of Business, before starting a consulting company working directly with insurance buyers. Charles understands what your prospects both want and need and will give you the tools of how to package your services in such a way that your prospects will fire their current agent and sign your Broker of Record Letter…during the very first appointment!
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Charles Specht

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You’re losing – literally – tens of thousands of dollars in new business commission each year because your Fizzle Rate is way too high. What’s a Fizzle Rate? A Fizzle Rate represents the number of prospects who agree to meet with you and have you quote, but they just don’t get you the information you need to put together a submission to go to the marketplace to gather quotes. The prospect simply “fizzles out” and you lose. My estimates for the Fizzle Rate is somewhere between 10% – 40% of all the prospects you meet with. Seriously, the Fizzle Rate is costing you – and your agency – tens/hundreds of thousands of dollars each year in new business revenue. In this podcast episode, host Charles Specht teaches you two things you need to start doing in order to reduce the Fizzle Rate and win more new clients.

Also, if your agency is looking for a way to increase new business sales, consider hiring Charles as your agency’s fractional Chief Sales Officer. Go here to learn more: https://permissiongroup.com/chief-sales-officer/

And, did you know you can watch the video of these podcast episodes as well? Visit our YouTube page as well at: https://www.youtube.com/c/permissionsales

Key Topics:

  • The fizzle out ratio and why 10-40% of prospects never deliver the data you need

  • Becoming high maintenance with a 25-item request list kills your submission rate

  • Cutting your Fizzle Rate by 50% adds tens of thousands in revenue without changing anything else

  • Collecting prospect data in three waves to keep momentum alive

  • Stop asking prospects to pull their own loss runs – it tips off the incumbent and tanks your close ratio

  • Handle supplemental applications by phone yourself – insureds will answer them incorrectly

  • Prospects fizzle because they forget the goal – your tagline must remind them of the reward

  • Reinforcing your one-liner in follow-up emails re-anchors prospects and drives them to act

  • Tracking fizzle ratio, close ratio, and submissions won is non-negotiable for serious producers

  • The revenue math: agents writing $100K in new business could be leaving $25K on the table every year

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