In this episode of "Know Your Risk and Insurance Coverage with Risk ProNet," host Chip Arenchild welcomes Brad Reitzner, Executive Vice President of Property and Casualty at M3 Agency, to discuss the transformative power of specialization. M3 Agency, a top 100 agency with 400 employees across eight offices, has successfully grown organically through a strategic focus on practice groups. Brad shares the agency’s journey from being generalists to specialists, highlighting the challenges and successes along the way. He delves into the structure and operations of practice groups, the importance of industry-specific knowledge, and how M3’s culture and ownership model support this specialized approach. Tune in to learn how M3’s innovative strategies can inspire your own agency’s growth.
Timecodes:
00:03 - Introduction and Welcoming Brad Reitzner
01:19 - Background on M3 Agency and Brad's Role
03:28 - Transitioning from Generalist to Specialist: The Beginning
05:23 - Initial Practice Groups and Early Challenges
06:54 - Success and Expansion Post-2005
08:24 - Brad’s Transition from a Generalist Agency to M3
09:55 - Aligning Operations and Service Teams with Practice Groups
12:30 - Structure and Efficiency within Practice Groups
14:22 - Benefits of Centralizing Expertise
17:03 - Managing Expectations and Accountability in Practice Groups
19:14 - Organizational Structure and Management Layers
23:36 - Role of Directors and Support Systems
26:51 - Compensation and Incentives for Directors
27:55 - Back to Basics: Focus for 2024
Resources:
Become a member at RiskProNet.com
Connect with Brad Reitzner on Linkedin
Connect with Chip Arenchild on LinkedIn
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