Agency Intelligence: The Insurance Podcast Network

Agency Freedom: E133: Jarid Beck On Understanding Captives Better


Listen Later

In this episode, James talks with Jarid Beck, Co-Founder of Risk Management Advisors.


To learn more about Risk Management Advisors, visit https://www.riskmgmtadvisors.com.

Visit our website to join our email list, get the scoop on our LIVE coaching calls and never miss an episode: https://www.agencyfreedom.com

Connect with Agency Freedom Podcast on Facebook at the Agency Freedom Podcast group: https://www.facebook.com/groups/agencyfreedom

Email us at [email protected] with ideas, questions, complaints or your favorite grilling recipe.


Episode Highlights:

  • Jarid discusses the focus of Risk Management Advisors which is to provide creative and multifaceted insurance solutions to businesses in various industries to help them better manage their risks and outperform their competition. (3:00)
  • Jarid mentions that in a competitive insurance market, the key to success lies in providing excellent service and finding creative ways to differentiate oneself from other providers. (8:01)
  • Jarid explains that captive managers provide valuable services in setting up and administering captives, but they do not handle the full range of services and policy placements that traditional brokers do. (16:06)
  • Jarid mentions that captives can be a viable solution for existing property exposures, but they are not suitable for covering catastrophic losses due to the high premiums and long recovery time. (21:28)
  • Jarid mentions that the key to success in implementing a comprehensive insurance program is to start building gradually and not try to have everything at once. (39:30)

  • Key Quotes:

    • “We got into corporate financial planning strategies, retirement plans, defined benefit plans, deferred comp, you name it, executive benefits. And in the process of doing this and doing some planning for some, some prospects and clients, we saw captive insurance companies cropping up, more and more it was becoming something either business owners had, or they wanted to see or wanted to learn more about.” - Jarid Beck
    • “We like to do things in phases, you know, hey, let's phase one, phase two, phase three, and let's tackle it over, you know, over a period of months or years, and then you know, have a smooth glide path, then you get down the road and you're like now we've got a program that does everything we want” - Jarid Beck
    • ...more
      View all episodesView all episodes
      Download on the App Store

      Agency Intelligence: The Insurance Podcast NetworkBy Agency Intelligence

      • 4.7
      • 4.7
      • 4.7
      • 4.7
      • 4.7

      4.7

      50 ratings


      More shows like Agency Intelligence: The Insurance Podcast Network

      View all
      Motley Fool Money by The Motley Fool

      Motley Fool Money

      3,222 Listeners

      Agency Nation Radio by Agency Nation - Insurance Marketing and Technology Strategists

      Agency Nation Radio

      49 Listeners

      REAL AF with Andy Frisella by Andy Frisella

      REAL AF with Andy Frisella

      32,723 Listeners

      The Clark Howard Podcast by Clark Howard

      The Clark Howard Podcast

      5,487 Listeners

      THE ED MYLETT SHOW by Ed Mylett | Cumulus Podcast Network

      THE ED MYLETT SHOW

      14,030 Listeners

      Unstoppable Profit Podcast Hosted by Mike Stromsoe by Mike Stromsoe

      Unstoppable Profit Podcast Hosted by Mike Stromsoe

      12 Listeners

      The Insurance Guys Podcast by Scott Howell & Bradley Flowers

      The Insurance Guys Podcast

      205 Listeners

      The Ridiculously Amazing Insurance Podcast by Agency Performance Partners

      The Ridiculously Amazing Insurance Podcast

      18 Listeners

      The Insurance Dudes© by The Insurance Dudes: Craig Pretzinger and Jason Feltman

      The Insurance Dudes©

      166 Listeners

      Power Producers Podcast by David Carothers

      Power Producers Podcast

      116 Listeners

      Insurance Town by Heath Shearon

      Insurance Town

      53 Listeners

      Millionaire Insurance Producer by Charles Specht

      Millionaire Insurance Producer

      40 Listeners

      The Max Revenue Show by Max Revenue

      The Max Revenue Show

      16 Listeners

      Business Refocused by Lindsay Sexton & Carey Wallace

      Business Refocused

      46 Listeners

      The Scratch Agency Podcast by The Scratch Agency Podcast

      The Scratch Agency Podcast

      21 Listeners