Millionaire Insurance Producer

Millionaire Insurance Producer

Hosted by Charles Specht, 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!

Episodes

September 15, 2022 36 min

In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht discusses how competing insurance agents only win new business an average of 8% of the time in a normal quoting process. Incumbent agents win 92%. So, who has it better? That's really the issue. Incumbent agents retain their clients because they have access and currently control the insured's permission. Therefore, let's focus o...

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There are one-owner shops, small agencies, medium-sized agencies, large alphabet houses, and everything else in between. The question is: Which one can you make more money at as a producer? 

In this episode of the Millionaire Insurance Producer podcast, host Charles Specht walks you through the pros and cons of each, tells you which type/size agency he would work at today if he was planning to pick one to work at, and an option for ...

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A weak mindset is often what most of your competitors possess. But what about you? Do you have a robust and competitive mindset when it comes to sales? Are you afraid to ask for the signed Broker of Record Letter? Are you nervous about telling the insured what you require from them in order to move forward? 


In this episode of the Millionaire Insurance Producer podcast, host Charles Specht explains the seven things insurance produce...

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Could you write $250k of new business commission in the next twelve months? I think you can ... And here's how!


There are three main things you need to do in order to successfully write a quarter of a million dollars in commission this next year. In this episode of the Millionaire Insurance Producer podcast, host Charles Specht breaks down the step-by-step process of how you can do this and how you can get every agent at your ag...

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Yes, indeed, your clients get solicited by other insurance agents all the time. During this policy renewal year, they are more likely to meet with those agents (your competitors!) to see if there are alternative options available to them to cut costs. Why? Because inflation, a lack of workers, and a hardening insurance market are forcing them to look at options in order to do nothing more than stay in business. 


In this episode of t...

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August 11, 2022 33 min

You don't have to be the "best" insurance agent out there. (Please, read that again!) There are literally tens of thousands of insurance agents out there who prospect in your very own geographic territory. You don't need to be the best out of all of them. In fact, all you have to be is the better CHOICE of whichever agent the prospect is using to get quotes on their behalf for that renewal. That's it. 


In this ep...

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Delivering bad news to current clients is an art. So is uncovering bad news from your prospects. In fact, the best and most wealthy insurance agents out there are typically the ones best at advising their current clients on industry trends, and uncovering pains/problems with their competition. 

In this episode of the Millionaire Insurance Producer podcast, host Charles Specht will explain how to do this for better client retention a...

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Writing small accounts may help you pay the bills, but, you'll never achieve wealth writing small accounts. In today’s throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht teaches you how to determine what size account you should prospect and how to be more successful at building a Book of Business. Writing small accounts may help you pay the bills but, you'll never achieve wealth writing sma...

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Please .... do not be one of those insurance agents who have no strategy or process when it comes to presenting renewal quotes/proposal to the prospect! If you do that, you're more likely to lose than win. Why? Because, if you do that you're wingin' it and throwing mud against the wall to see what sticks.

In this episode of the Millionaire Insurance Producer podcast, host Charles Specht will give you some options to cons...

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It's one thing to agree that targeting BOR's is a smart move but it's another thing altogether to develop a step-by-step process to winning signed Broker of Record Letters on a consistent basis. 

In this episode of the Millionaire Insurance Producer podcast, host Charles Specht will "build you a house" by explaining what the foundation is, what the four walls are, and what the roof is to winning more signed Broke...

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In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht explains how cold calling still works and it works very well for those who use the right script. Charles Specht will teach you what your script could be and how to effectively cold call in order to set more appointments with your prospects.


Episode Highlights:

  • Charles shares a poignant story from when he first got into the insurance business....
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    June 30, 2022 27 min

    Referrals, referrals, referrals! You've probably heard that referrals are great to get and have the highest win percentage when compared to other forms of prospecting. And, you'd be right to think that because it's true. However, most insurance agents and agencies do either a very poor job at systematically asking for (and receiving) referrals from their client base or COIs, or they have no process for referrals at all....

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    June 27, 2022 32 min

    One of the biggest reasons insurance agents don't achieve success as a producer is due to the QUANTITY of accounts on their prospect list. But the biggest reason overall is no doubt the QUALITY of the accounts on their prospect list. 

    In this episode of the Millionaire Insurance Producer podcast, host Charles Specht will teach you how to increase the QUALITY of the accounts you are prospecting in order to close more deals and ma...

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    Setting appointments with new prospects is hard. But it's also one of the most important things a producer needs to improve at in order to win new clients. "Scripting" (what you say or write to your prospects) is the difference maker for all of it. In this episode of the Millionaire Insurance Producer podcast, host Charles Specht outlines what is potentially the best prospecting script in the entire insurance industry, ...

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    June 20, 2022 33 min

    If you're like most insurance agents out there, you're not getting the new business commission results you know you're capable of. You're either not prospecting enough, prospecting inefficiently, not setting enough appointments, not sure how to transition to asking for the signed Broker of Record Letter, or how to close the business if you go through a quoting process. Usually, this boils down to doing things over a...

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    In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht discusses the biggest problem insurance agents have. It’s not around prospecting or messaging. The biggest problem insurance agents have is their lack of success at getting their prospects to fire the incumbent agent in order to hire them. That is what this episode is all about. 


    Episode Highlights:

  • Charles explains the process of competitive...
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    May 26, 2022 39 min

    In this episode of the Millionaire Insurance Producer podcast, host Charles Specht teaches you how to determine what type of business you should target for prospecting. In other words, Charles will teach you the step-by-step process he takes his 1-on-1 coaching clients through to determine their own most profitable micro-niche focus. This is the topic Charles gets asked about most, which is why he gets very detailed in the process ...

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    In this episode of the Millionaire Insurance Producer podcast, host Charles Specht interviews one of his sales training clients, Man Phung. Man only started writing commercial accounts about three years ago but has been implementing the things Charles has been teaching, such as Thinking BIGGER, micro-niching down, utilizing the 12-Month Timeline of Services, etc. The result is that he's writing much bigger accounts today. Charl...

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    Most insurance agents don't know how to clearly articulate their value or adequately differentiate themselves in their prospect's minds.

    In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht explains how to best differentiate yourself with a written, objective, and strategic 12-Month Timeline of Services.


    Episode Highlights:

  • Charles explains what should happen when you’re trying to get a ...
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    In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht discusses how the Jack-of-all-Trades is dead. The "generalist" producer is a thing of the past. Insurance agents who become experts in a specific area (Micro-Niche) get more clients more quickly and win significantly more signed Broker of Record Letters.


    Episode Highlights:

  • Charles shares a story about a man named Jack. (2:07)
  • Charles...
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