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 dethronement. (2:56) Charles shares how insurance is war. In sales, you either win or lose. (4:21) Charles explains how to get the incumbent agent fired, to get you hired. (9:19) Charles shares a story about speaking to an insurance agent, who sent him a message on LinkedIn. (11:43) What’s the second thing you want to do to get the incumbent agent fired? (13:30) Charles shares how to get the insured to realize that their agent hasn't fulfilled their services. (18:31) Charles explains another way of identifying significant problems that the insured has with their incumbent agent. (20:28) Charles shares what you need to do to help the insurer take away the pain. (25:50) Charles mentions why it’s important to remember that insurance buyers have the insurance mentality of a four-year-old child. (29:33) Key Quotes: “If you can't get the incumbent agent fired, you will never get another client. If you can't get the incumbent agent fired, you will never get hired, period. And so, we don't have a prospecting problem, we have a firing problem, that is the issue.” - Charles Specht “If you can begin creating that killer mindset, so that you understand what this is, I do believe that everything else will become easier. I do believe that you'll be more focused, that you will understand the process more, that you will start creating strategies and systems, and a process that is going to work yourself through the situation with the insured, so that at the end, you are more likely to ask for the broker of record letter, and get awarded the broker of record letter.” - Charles Specht “If you don't win, you lose. And, there is somebody else right now sitting in your chair, on your throne, the other incumbent agent. Unless you can get the insured to willfully fire, terminate that relationship, you will never get another client, period. If you can't get people fired, you can never get a new client. It is that simple.” - Charles Specht Resources Mentioned: Reach out to Charles Specht Permission Network Insurance Agency, Inc.

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.

Transcript

Related