In this episode of Power Producer Shop Talk, host David Carothers delivers a masterclass on navigating the shift from a hard to a soft market, emphasizing that the time to prepare is now. With reinsurance renewals signaling a softening, David warns that the easy "price shopping" wins of the hard market are disappearing, and producers must pivot to value-based selling to displace incumbents who are now delivering good news (rate decreases).

David also breaks down the Total Cost of Risk (TCOR) conversation, explaining why it is the ultimate differentiator for accounts in the $100k-$250k premium range. He details how to uncover "hidden" costs like active vs. passive retained losses and why many businesses are overpaying by acting as their own insurance company without getting the credit for it.

David explains that while the message remains consistent, the delivery must change as we move from a hard market (where incumbents deliver bad news) to a soft market (where they deliver rate decreases). Producers must "sew their seeds" now by cleaning up accounts and focusing on Total Cost of Risk to lock in clients before the next hard cycle hits.

For producers intimidated by financial jargon, David simplifies TCOR. It’s not just premium—it’s the sum of insurance costs, retained losses, and risk management expenses. He explains that using the word "cost" instead of "price" or "premium" instantly elevates the conversation and positions you as a strategic partner rather than a vendor.

David dives into the nuance of retained losses. An active retained loss is a conscious decision (e.g., a high deductible or choosing not to buy cyber coverage). A passive retained loss is an unexpected hit (e.g., an uncovered claim due to an exclusion). He shares a story of a contractor paying all claims under $5k out of pocket without getting any deductible credit—a massive opportunity for a savvy producer to step in and structure a proper program.

David shares a personal example of how he handles Department of Defense (DoD) contractors. Since he lacks the security clearance to inspect classified manufacturing areas, he uses a service called Yellowbird to hire ex-military professionals with active clearances to perform the loss control inspections. This creative problem-solving eliminates a major barrier to entry that stops most competitors in their tracks.

While TCOR works for larger accounts, David argues that the $100k-$250k premium space is the "fertile ground" where this conversation is most effective. These businesses are often large enough to have complex risks but small enough that they haven't been introduced to sophisticated risk management concepts by their current broker.

In this episode of the Power Producers Podcast, host David Carothers interviews Don Weber of DR Weber Coaching. Don’s background reads like an international spy thriller—from selling diamonds in Antwerp to conducting intelligence operations for the U.S. and French governments. He joins the show to discuss how the skills he learned in those high-stakes environments translate to elite sales performance and corporate training.

They dive into the art of profiling C-Suite executives before a meeting, the psychology of manipulation vs. persuasion, and why Don believes chasing money and power is ultimately unfulfilling. If you want to learn how to read people like an intelligence operative and communicate with absolute confidence, this episode is a must-listen.

Don Weber shares his fascinating journey from being a commercial insurance broker to a diamond trader in Antwerp, which eventually served as his cover for intelligence work. He reveals how a background of "getting into trouble" made him a perfect recruit for government operations that required him to live under assumed identities in dangerous territories.

Drawing on his intelligence background, Don explains the importance of building a psychological profile of your prospect before you ever step into the room. He and David discuss how to research a CEO or CFO—looking beyond just company stats to understand their personal motivations, lifestyle (e.g., home value, charitable giving), and risk tolerance to tailor the perfect pitch.

Don and David agree that most salespeople fail because they focus on the product (insurance policies) rather than the root cause of the client's problem. Whether it's a dirty workers' comp mod or a lack of safety culture, identifying and fixing the underlying issue is the key to winning the account and delivering true value.

While hard skills are important, Don argues that communication is the ceiling on your potential. He shares how he helps corporate executives polish high-stakes presentations and master the art of engagement, ensuring that their message lands with impact—whether they are speaking to a board of directors or a room full of politicians.

Having lived a life full of danger, money, and power, Don offers a sobering perspective on success. He warns against the trap of materialism, noting that many of the wealthiest people he knows are also the loneliest. True fulfillment, he argues, comes from helping others and living with purpose, not just accumulating "stuff."