MRL #056- Your New First Meeting Framework

It’s one week till Christmas and yours truly is feeling that Holiday spirit.

So, I figured in this week’s letter I’d just give away one of our resources inside the Producer Playbook for FREE.

They say it’s better to give than to receive…

So let’s test that theory out, shall we?

Grab a fresh cup of nog, and a pen and pad…

Cuz you’re gonna want to write this down.

But first… let me set the table.

It’s Jan 2nd and you’re back and at it in the office.

You pick up the phone and make some calls.

10 calls in… much to your surprise, you book a meeting using our Due Diligence Script.

Imagine that.

Your meeting is set with the CEO of a $40K revenue account.

There’s just one problem.

You haven’t bought the Producer Playbook, so you have no idea how to run a meeting.

You normally ask to quote, but you’ve been hearing us talk about positioning for the BOR.

You agree it sounds sexy and all… but how the hell do you do it?

Well, buckle up Tiny Tim.

That’s exactly what I’m about to show you.

Here’s how to stop quoting and start positioning for the BOR in your first meeting.

Greeting:

Thanks for your time ______. Does 15 minutes still work for you? 

Positioning Statement:

I’m not a fit for everyone. The purpose of this call/meeting is not to convert you in to working with me or even discuss taking next steps, but instead to learn about your company, your insurance experience, and share a different approach with you that’s helped a lot of people.

If at the end you don’t want to move forward, that’s completely okay. If you do, that’s fine too.

No pressure either way.

Sound good?

Since we only have 15 min, before I jump into what I want to want to cover, was there a particular reason you agreed to meet?

I’m sure you get hit up by a bunch of sales people, and don’t meet out of boredom... so I wanted to make sure I don’t miss anything…

Overview of Their Company:

I know you do______ and have been in biz since ______.

Could you help give me a better understanding of where you’re at today as a company overall?

1) Size, sales, your bread and butter?

2) Goals for next 2-3 years?

3) Challenges you’re facing?

Overview of Their Insurance:

Thanks for that, so regarding insurance specifically:

1) On a scale of 1-10, 10 being “in love” with your insurance experience, how would you rate your satisfaction overall?

IF NOT 10… what would make it 10?

2) How would you rate your performance/profitability for your previous carriers (loss ratio… are they a profitable account)?

3) What’s been your process for doing due diligence over the last 3-5 renewal cycles?

Transition To “Insurance Game”:

Do you mind if I take a moment to share with you what our “Due-Diligence Process” looks like and how it’s been helping similar companies?

1) What’s your understanding of how the insurance game works (when you try to get quotes)?

2) Are you aware that out of 100’s of insurance companies, only a handful quote your risk each year (that most agents have same contracts)?

3) Did you know UW’s can only give one quote to one agent any given year (first agent in gets access)?

4) Most agents try racing to markets or blocking markets but that just ends up hurting you.

How To Win The Insurance Game:

Because of this and the fact most agencies have the same markets:

1) A lot of companies have given up on quoting. Feels like a waste of time and get no value out of the process.

2) A lot of other successful companies have moved to a different model. They still want to do get the best coverage, price, and service, but…

3) They stop looking at insurance like buying material, and instead view as if selling a house (pick agent who leverages all the markets thus providing the most value for their commission)…

4) Do you know what your current agent gets paid of your premiums (10-15% of premiums)? Tell them.

You’re Probably Wondering… “How Do I Pick An Agent Then?”

The way they pick their agent is through having them show value up front through a “Due Diligence Process”.

This does a couple things…

1) Saves you time

2) Gives you valuable insights beyond just insurance:

• HR

• TCOR

• Compliance

• Risk Management

• Benchmarking To Competitors

3) Gives you peace of mind knowing your with the best agent/program.

The process typically looks like this:

1) I gather documents (policies, last year’s proposal, old loss runs, etc.)

2) Then we hop on a research call where I’ll ask you questions I need clarification on from your policies, to current practices, to operations.

3) Then I’ll come back and present what I find. Where you’re at now, and ideas to help you improve.

Closing:

If I think I can help you, I’ll show you how.

And if I don’t think I can help you, I’ll tell you that too.

I’m not here to twist your arm. I don’t like being “sold” to and I’m sure you don’t either.

That being said… Would love to be able to dive in and see if I can help you, but understand this isn’t a priority for everyone…

Thoughts?

How would you like to proceed?

Now, obviously I can’t go into every nook and detail in this letter…

This is just a framework.

So, feel free to adapt and make your own.

But, hopefully you get the picture.

If by chance this has peaked your interest, and you’re looking for more detail…

Then feel free to check out our Producer Playbook.

Inside, Micah literally walks you through this step-by-step. Not gonna lie… much more detail in there.

Or you can take it and run with it, as is.

No hard feelings either way.

Also, Just A Heads Up…

This will be the last letter we send out this year.

Gonna spend the next two weeks focused on family and friends…

And getting a few 12/31’s put to bed.

[Wink Wink]

Be back in your inbox come Jan 7th.

Ok, that’s enough out of me.

The elves are stirring in their beds, again.

Time to go tuck them back in.

Merry Christmas ya’ filthy animal.

Kick ass take names, 

Maximus F. Revenue IV