In this episode of Know Your Risk and Insurance Coverage with RiskProNet, we continue our insightful conversation with Matt Cranney from M3 Insurance. Matt leads M3 Elevate, a pioneering small business insurance division that redefines how firms approach this crucial market. He shares how M3 transformed its small business unit into a sustainable, profitable, and high-value operation by leveraging advisory-led, tech-supported strategies.
We dive deep into key challenges, including how to balance profitability with excellent service, integrate technology efficiently, streamline workflows, and align producer and carrier incentives. If you’re looking to optimize your agency’s small business unit, this is an episode packed with practical takeaways. Tune in for part two of our discussion with Matt Cranney and gain valuable insights into the future of small business insurance.
Timecodes
00:00 Introduction: Welcome Back with Matt Cranney
00:47 The Philosophy Behind M3 Elevate’s Success
02:30 Small Business vs. Large Commercial: Navigating the Challenges
05:00 Creating an Agency within an Agency: M3’s Unique Structure
07:17 Cross-Selling & Internal Workflows for Small Business Insurance
10:26 Producer Roles & Expectations in Small Business Units
13:39 Touchpoints & Customer Experience: How Often Should You Engage?
17:13 The Power of Insurance Technology in Small Business Operations
20:21 Why M3 Elevate Took a Cautious Approach to InsurTech Adoption
22:45 Specialization & Growth Strategies for Small Business Accounts
24:50 Managing Workload & Scaling Small Business Books Effectively
27:10 Producer Compensation, Sales Goals, and Performance Tracking
30:05 Carrier Consolidation: Strategy for Building Strong Partnerships
32:26 Key Lessons: What to Avoid When Building a Small Business Unit
35:15 Final Thoughts & Closing Remarks
Resources:
Become a member at RiskProNet.com
Connect with Matt Cranney on Linkedin
Connect with Chip Arenchild on LinkedIn
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.