Agency Intelligence: The Insurance Podcast Network

Millionaire Insurance Producer: Throwback: Strategies for Winning the Broker of Record Letter

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It's one thing to agree that targeting BOR's is a smart move but it's another thing altogether to develop a step-by-step process to winning signed Broker of Record Letters on a consistent basis. 

In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht will "build you a house" by explaining what the foundation is, what the four walls are, and what the roof is to winning more signed Broker of Record letters from your prospects.


Episode Highlights:

  • Charles explains why winning in a standard quoting procedure is quite difficult. (3:24)
  • Charles demonstrates how a Broker of Record letter is a better option than the quoting process. (7:05)
  • Charles believes that one of the main strategies in regards to the Broker of Record letter is asking for it. (9:13)
  • Charles explains that every single prospect meeting you have with an insured person needs to have a goal. (10:43)
  • Charles explains the advantages of being aggressive in your requests in order to persuade others to do what you want them to do. (13:50)
  • Charles explains that it is impossible to train individuals to be successful at selling anything if they are not aggressive in asking for the business. (17:10)
  • Charles discusses why the micro-niche, the foundation for your house, is so important in obtaining a signed Broker of Record letter. (17:49)
  • One of the ways to create a wall when building your house, according to Charles, is to plan out how you're going to prospect. (20:20)
  • Charles mentions that if you have a very powerful message that includes both the pricing side and a significant service side, you'll have a very excellent hit ratio on prospecting and setting appointments. (23:34)
  • The fourth wall, according to Charles, is how we lead that appointment to ask for the business. (24:17)
  • Charles discusses how the follow-up program will be the roof of the construction that binds the four walls together. (25:57)
  • Charles explains that the foundation is everything; it is the micro-niche, and everything is constructed on top of that; you can't have walls or a roof until it is completed. (27:45)


    • Key Quotes:

    • “You have to be aggressive in regards to what you're asking for in order to get them to do what you want them to do.” - Charles Specht
    • “If you have a very strong message that has both the price side as well as the significant service side, you're going to have a very good hit ratio on prospecting to setting appointments.” - Charles Specht
    • “Foundation is everything it is the micro niche, everything is built on top of it, you can't have walls and you can't have the roof until you get that done.” - Charles Specht


      • Resources Mentioned:

      • Reach out to Charles Specht
      • Permission Network Insurance Agency, Inc.
        • ...more
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