Agent-Wholesaler Relationships in the Insurance Industry | Shoptalk Episode 141

In this insightful interview from 2024, David Carothers and John Barfield discuss what sets their wholesale agency, Braishfield, apart from the competition. They delve into the importance of educating clients, providing complete submissions, building strong relationships with underwriters, and focusing on value rather than simply quoting everything. John Barfield highlights the significance of timing in partnerships and the value of creating a long-term relationship based on trust and transparency. If you’re looking to learn more about Braishfield and their approach to the insurance industry, this podcast episode is a must-listen!

Stay tuned for valuable insights and practical advice on navigating the commercial insurance space in a hard market.

#insuranceindustry #releationship #marketingstrategy

▀▀▀▀▀▀▀▀▀

Video Chapters:
00:00 – Intro
02:05 – Strengthening Wholesaler-Retail Agent Relationships
10:04 – Navigating the Hardened Insurance Marketplace
14:00 – Importance of Relationship With Underwriters
18:15 – Importance of Complete Submission Information
24:34 – Common things Missing while Submission
31:05 – Success in Commercial Insurance Market
36:46 – Building Strong Business Relationships
42:45 – Relationships for Business Growth
47:00 – Endorsement for Braishfield
51:11 – Outro

▀▀▀▀▀▀▀▀▀

Relevant FAQs:
What is the role of a wholesaler in the insurance industry?
How do wholesalers differentiate themselves in competitive markets?
Why is it important for insurance agents to have a good relationship with their underwriters?
What constitutes a complete submission when working with a wholesaler?
How can insurance agents ensure they are getting competitive quotes in a hard market?
What strategies should new insurance agents employ to build effective relationships with wholesalers and underwriters?
How do experienced agents handle communication and submissions differently from new agents?
What are the benefits of having fewer, more strategic wholesaler relationships compared to multiple ones?
How does the insurance market’s hardening or softening affect agency operations and client relationships?
What steps can agencies take to ensure transparency and maintain trust with clients during the insurance process?

▀▀▀▀▀▀▀▀▀