December 08, 2023

Agency Freedom: E132: Caden Braly On Attacking The Hard Market Head On

46 minutes

In this episode, James talks with Caden Braly, Business Development Manager at Braly Insurance Group and CEO of Innovative Risk.

To learn more about Braly Insurance Group, visit https://bralyinsurance.com.

To learn more about Innovative Risk, visit https://www.innovativerisk.io.

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Episode Highlights:

Caden discusses Braly Insurance Group's proactive approach to preparing customers for insurance policy renewals, including contacting them ahead of time, educating them about potential price increases, and providing resources to explain market conditions. (3:45)

Caden mentions that agents are diversifying their portfolios by shifting towards large-scale GL, and commercial auto, and expanding into other states to reduce their reliance on property and personal lines in Texas. (12:14)

Caden shares that he has extensive experience in vetting and testing various technology companies in the insurance industry, allowing him to offer credible recommendations to his clients. (16:13)

Caden explains that Innovative Risk is an insurance consulting firm that acts as a buyer's agent, helping customers navigate the complex world of insurance and holding agents accountable for their work to ensure the best coverage and pricing for the customer. (24:15)

Caden discusses Braly Insurance Group's specialization in providing excellent insurance services for contractors, auto service, non-commercial construction, and lessors risk, while also partnering with Innovative Risk for larger scale and manufacturing accounts. (32:13)

Caden believes that the insurance industry needs to be held to a higher standard and that consultants with experience and knowledge in the industry are the best option for clients. (36:21)

Caden mentions that it is important to consider alternative options and compare offers when it comes to mergers and acquisitions, as some agencies and firms will purchase your business without requiring a lengthy buyout period or strict maintenance of the book of business. (40:30)

Key Quotes:

“One of the things that we started doing in the last couple of months is a proactive shopping of insurance. So, we get to the customer, even before the renewal comes out, and prepare them for what's to come.” - Caden Braly

“Insurance technology is not hard to become an expert in it. It's not very advanced, I say this with all kindness in the world to all of our tech partners out there. The technology and understanding other industries is far more advanced and more difficult to learn and to grasp.” - Caden Braly

“We do a full breakdown of an agency before we even get to the point of offering any sort of technology solution.” - Caden Braly

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