Unless you have the "pen" for one of the carriers, you don't determine price or rates. The underwriter has all of the control for that. So, the competition really takes place at the "underwriting level" and not at the "retail agent" level. Why do your prospects think they can get better quotes by working with multiple agents? ANSWER: Because they don't know any better. If you can clearly articulate to the prospect that you will ensure competition will take place with the underwriters, you should be able to BOR all of the markets you want. That's what host Charles Specht talks about in this throwback episode of the Millionaire Insurance Producer podcast. Episode Highlights: Charles discusses the factors that lead to a lack of trust in the insurance relationship. (2:06) Charles explains why a lack of qualified competition to motivate the current broker is not in the insured's best interests. (6:13) Charles discusses his responsibilities to an insured who likes the current agent. (10:04) Charles shares several ways to motivate individuals to work hard. (12:06) Charles believes that competition should take place at the underwriting level rather than the retail agent level. (13:45) Charles mentions that it is important to explain to the insured how the procedure ensures competition, not at the agency level, but at the carrier level. (16:07) Charles explains why micro-niching is so significant. (17:50) Charles discusses the need for educating the insured on how insurance works. (19:28) Charles explains why insurance producers must be able to tell underwriters exactly what they want. (24:39) Key Quotes: “I have no plans to move the business away from the incumbent agent. Because the incumbent agent might not necessarily be doing a bad job, it's just that the insurer doesn't know if they're doing a good job. And the insurer doesn't know if the agent who they like is actually getting them the best deal. That's normally why I'm hired, when the insured kind of likes their agent.” - Charles Specht “This is why micro-niching becomes so important because the more that you are entrenched in the insurance industry, the more you will know what's happening in the insurance marketplace for that industry.” - Charles Specht “If you can help your prospects see why you would be better. They might actually give you everything you want.” - Charles Specht Resources Mentioned: Reach out to Charles Specht Permission Network Insurance Agency, Inc.

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

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