Spot On Insurance

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Roe and Don Polczynski are the owners of the RD Advisory Group, a company that provides organizational guidance in employee engagement, leadership development, strategic planning, team dynamics, and generation integration. They are also the authors of Changing Your Equation, a personal leadership book that represents their passion and experiences of helping others find success in their lives. 

Roe and Don join us to share their passion for helping others achieve success. They discuss their lives before they founded RD Advisory Group and the story of how they met. They explain where their love for providing career advice is drawn from and how they work with clients. They describe some of the problems many companies encounter, especially when it comes to budgeting and how hiring a Fractional CFO can solve them. Roe and Don also share their best tips for someone who is just entering the industry.

“The typical owner gets so enthralled working in the business that they don't take time out to work on the business.” - Roe Polczynski

Today on Spot On Insurance:

• How Roe and Don met and what their life was like when they were younger.
• How they decided to start a business in insurance.
• The importance of having a mentor.
• What they offer kids when it comes to career counseling.
• The stories they can never forget and what they learned from them.
• What companies are missing out on and how Fractional CFOs can help.
• The one question agencies never ask enough.
• The kind of expertise agencies should expect from a bookkeeper.
• Focusing on the budgeting weak spots of agencies.
• How they work with clients who seek help with business growth.
• Why every contingency dollar is valuable.
• Getting an agency started in the CFO program.

Key Takeaways:

• Every agency needs a fractional CFO for their financing strategies.
• The risk is the interpretation of the results.
• A 1-year plan is better than no budget, but a 3-year plan is still an opportunity.
• A 90% retention rate over 5 years means you almost lost half of your book of business.

Resources Mentioned:

• Insight Performance
• Elevate Conference

Connect with Roe Polczynski:

• RD Advisory Group
• Phone: 315 368 8661
• Email: [email protected]
• LinkedIn
• Facebook
• YouTube
• Changing Your Equation

Connect with Don Polczynski:

• Email: [email protected]
• LinkedIn

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

Connect, Learn, Share

Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!

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Rick Fox is the Vice President of Agency Associations and Networks at Vertafore, a company that offers software solutions to insurance companies large and small. The programs they developed are used every day by thousands of insurance agencies and carriers across 23 states. Rick previously left the company in 2014 to work on several projects, among them the Agency Revolution, where he held the position of President. In addition to what his position entails, Rick is also the host of Vertafore’s official podcast.

Rick joins us today to discuss what Vertafore is about, the services they offer, and the tools they developed for insurance agencies. He shares how he stumbled into his career in the insurance industry and how his company helps insurance agencies and carriers grow their business. He discusses how technology has impacted the insurance industry, why it’s either technology-driven or consumer-driven, and what insurance agencies need to focus on to enhance their company’s growth. He also discusses the Reference Connect and Risk Match platforms and how they help agencies and carriers diversify and grow their businesses.

“The biggest changes have come with the advancement of technology and the use of technology.” - Rick Fox

Today on Spot On Insurance:

• How Rick stumbled into insurance.
• Developing a fondness for coaching and volunteerism.
• What Vertafore is and what his position entails.
• Why he returned to working with Vertafore.
• The changes he's noticed in the independent agent industry.
• Why the biggest changes in insurance are technology and consumers.
• The strategies he used to grow his businesses.
• What agencies are not doing enough that slows growth.
• Using tools and data to build a business strategy.
• Great business practices for agencies to implement this new year.
• Reference Connect, Risk Match, and what these two platforms do.
• Why he was chosen to host the company's podcast.

Key Takeaways:

• If you found something that can really change the way your office runs, do it. Get into it.
• Using data can give your business the right kind of leverage during the planning stage.

Resources Mentioned:

• Agency Revolution

Connect with Rick Fox:

• Vertafore
• LinkedIn
• Vertafore Insurance Podcast

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

Connect, Learn, Share

Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!

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Drew Yancey is an Advisor for InCite Performance Group, a company that provides concierge consulting services tailored towards independent insurance agencies in the US, Canada, and across Latin America. He is also part of the team behind Ambassador Captive Solutions, a company that aims to help clients with risk management and alternative risk financing. Drew describes himself as someone who wants to continually learn and demonstrates that by having attended five colleges, including Oxford University and the University of Birmingham from 2003 to 2018. 

Drew joins us to discuss the importance of risk management and what it takes for independent agencies to grow beyond their scope. He shares what life was like growing up in a family that has owned a food service distribution company for multiple generations. He explains how he works with clients and the steps he takes when they ask for consultations. Drew also discusses captives and the different ways organizations can use them for their business.

“How you manage risk is often the difference between surviving and not.” - Drew Yancey

Today on Spot On Insurance:

• Drew's journey and what it's like to have a multigenerational family business background.
• Why he didn't choose to be in the food service distribution industry.
• Why he loves to travel and what he's searching for.
• Becoming part of the insurance industry and what made him stay. 
• How independent agencies can grow beyond what they are capable of.
• The strategies he uses to help independent agencies.
• What captives are and the organizations that should use them.
• What the brokerage community should focus on.
• The drawbacks of ignoring risk management for your company.
• Problem-solving in complex risk environments.
• Recent innovations he's watching that will change the way the industry works.

Key Takeaways:

• If someone's coming to you and starting the conversation about captives with tax incentives, run as far away from that person, as quickly as you can, because that is one of the worst ways to start the conversation.
• Risk management is not optional.

Connect with Drew Yancey:

• InCite Performance Group
• Ambassador Captive
• LinkedIn

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

Connect, Learn, Share

Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!

Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge.  Today, Elaine Nance from the Marketing Team at Insurance Licensing Services of America (ILSA) shares her dos and don’ts for protecting your information systems from internal threats.  Her secret for success: Make data security part of your day-to-day business activities, especially your hiring and firing process.

And if you only learn one thing from this podcast, let it be this: Share information about cyber threats and data security measure with everybody – from the boardroom to the newest hire or intern – because everyone contributes to your data security.

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Thalia Toha is an expert in providing brand and business strategizing services to busy entrepreneurs. She has over 20 years of experience working with 7-figure national brands and various S&P companies, helping them solve long-term growth challenges that translate to bigger earnings. Before becoming a business advisor, Thalia practiced real estate for more than 10 years in the New York and Washington, DC areas. She is also part of NAI Global as Advisor.

Thalia joins us today to share some of the best business secrets for top performers in any industry. She shares her dreams and aspirations as a young girl growing up in Indonesia and what led her to study at Princeton University. She explains how entrepreneurs should manage their time and set their priorities. She discusses the importance of having a website with content that tells your company’s story without alienating the audience. Thalia also shares her “strength to strength” strategy and why it’s effective for lead conversion.

“To be successful, you just have to take small steps.” - Thalia Toha

Today on Spot On Insurance:

• Thalia’s dreams and aspirations when she was still in school.
• Her experience in high school with being different and surviving it.
• Managing multiple priorities as an entrepreneur.
• Why setting up a website for your business is key to success today.
• The amount of time business owners should spend discussing problems and solutions.
• The type of online content that converts leads.
• The right time to use jargon in your specific industry.
• What a proper response should be on client inquiries and interviews.
• What the "strength to strength" strategy conveys.
• Her podcast and the way business owners can use it as a reference for strategies.
• Using video to have human-to-human conversations with leads.

Key Takeaways:

• A client's first impression is likely to come from your website.
• If you're genuine, clients will ask you about you.

Resources Mentioned:

• Podcast Movement

Connect with Thalia Toha:

• Thalia Toha Group
• LinkedIn
• Instagram

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

Connect, Learn, Share

Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!

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Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge.  Today, Insurance Licensing Services of America (ILSA)’s Supervisor for Annual Returns & Corporate Tax Filings, Tameika Johnson shares her dos and don’ts for disregarded entities.  Her secret for success: Do your research before you register your business entity with a Secretary of State’s Office.  Your filings status will impact whether, when and how much your business needs to pay in corporate taxes.

And if you only learn one thing from this podcast, let it be this: Don’t assume that because you are a disregarded entity that you don’t need to file a state tax return!

Remember, also, there are many factors that go into determining an entity’s taxable status.  In today’s podcast we’re discussing ONLY single-member limited liability companies (SMLLCs) that are not owned by a C corporation.

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Jeffrey Brown is the President of VPay, a payment solutions company that helps users have a speedy and seamless experience when it comes to claims through secure electronic payments. Jeffrey specializes in business and corporate development as well as sales. He is also a lawyer, having obtained his JD, Order of the Coif, from the Southern Methodist University Dedman School of Law. Jeffrey utilized his law degree to represent startups and Fortune 1000 companies before his position at VPay.

Jeffrey joins us to discuss how VPay works and the problems they seek to remedy. He shares how he got started working in the fin-tech industry and how VPay was formed. He explains how VPay works, what separates them from other payment options, and how policyholders benefit from their services. Jeffrey also explains why ease of payment is critical in insurance and what he thinks about the rise of blockchain technology.

“The moment of truth for any insurer is how you deliver in a time of need for your policyholders.” - Jeffrey Brown

Today on Spot On Insurance:

• What made Jeffrey choose to have a career in fin-tech.
• How he joined VPay and what it was like at the start.
• The client problems they often encounter and how they solve them.
• How a typical transaction transpires from the viewpoint of a customer.
• Using blockchain in insurance claim payments.
• His thoughts on the rising number of payment apps and innovations.
• Solving the paper problem in insurance claim payments.
• Why the ease of claim payments are fundamental to the customer’s experience.
• How China is spearheading the payment products industry.
• Fraud and why digital payments can reduce fraud risks.
• What users can expect from using VPay.

Key Takeaways:

• The insurance industry has to adapt to a growing mobile market.
• The US insurance market today is about 3.9-trillion dollars. That would make it the 5th largest economy in the world.

Connect with Jeffrey Brown:

• VPay
• LinkedIn

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

Connect, Learn, Share

Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!

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Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge.  Today, Angie Dyer, Tax Compliance Team Leader with Insurance Licensing Services of America, Inc. (ILSA) shares her dos and don’ts for surplus lines zero reporting.  Her secret for success: Make sure you’re using the current forms and filing in a timely manner.  Penalty fees for past-due filings can rack up quickly!

 And if you only learn one thing from this podcast, let it be this: Just because you haven’t done surplus lines business in a state doesn’t mean you don’t have reporting obligations!

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Charles Alexander is the owner of Your Charles Alexander, a video marketing company that provides explainer videos for those who are working in insurance, finance, and people in an advisory role. He is credited for being an expert social media marketer, business developer, and email marketer. Charles is also the Director of the Tennessee Small Business Development Center and works with entrepreneurs to hire competent employees and market their business.

Charles joins me today to share the kind of results you can expect from an effective explainer video. He discusses the difference in attention spans between the Boomer and Millennial generations. He describes the ideal content of a 90-second video as well as the ways you can grab the attention of the audience within the first three seconds. Charles also explains why email marketing is not dead and how newcomers in the industry can benefit from using video.

“Don’t get hung up on the grammar - just make it about the customer.” - Charles Alexander

Today on Spot On Insurance:

• Why Charles pursued a career in video and advertising.
• Using Star Wars as an analogy for the type of business he conducts.
• Why Boomers have shorter attention spans now more than Millennials.
• How to write a video script that converts.
• The factors that make a successful video ad. 
• Why email follow-up pieces are still relevant in today's social media world.
• His best recommendations for video marketing best practices.
• Using videos when newcomers are entering the workforce.

Key Takeaways:

• Being authentic and legit always works for video.
• Email is still the same even after a decade has passed, while social media has changed almost every year. Email marketing that worked ten years ago can still work today.

Resources Mentioned:

• Book: Sell With A Story
• Video: Kobe Bryant Untold Stories with Patrick Bet-David

Connect with Charles Alexander:

• Your Charles Alexander
• Email: [email protected]
• Free video tips for listeners
• LinkedIn

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

Connect, Learn, Share

Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!

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Mark Evans is the Founder of Standard Sales Co., a sales training platform that focuses on scaling businesses and unlocking the potential of sales teams. He is the author of The Definitive Guide to Building Seven-Figure Sales, a book that teaches how companies can stand out from the competition and become a dominant force in their market. Mark has over nine years of experience working in various positions in key areas such as accounts, recruitment, and sales.

Mark joins us today to share some of the key strategies you can use to maximize your sales team. He shares his journey and how he found his way into a career in sales. He explains why 25% of agencies are going to close their doors, how the lack of ‘new blood’ factors into it, and the common mistakes many agency owners make when they start forming their sales teams. Mark also shares the tools he uses to help streamline his business.

“When we plateau, it's often because we're not having a goal bigger than what we already set.” - Mark Evans

Today on Spot On Insurance:

• How Mark’s journey into sales started.
• Why he says 25% of agencies in the industry can shut down.
• The reluctance of the youth to chase a career in insurance.
• Common mistakes agency owners make when forming a team.
• Assembling a team that has a different type of mentality.
• Establishing a good professional relationship in today's industry.
• The best ways to follow up with a client.
• What the Almighty Power Hour is and how it helps with time management.
• The parts of an effective sales conversation.
• What Mark does to stay on top of his game.

Key Takeaways:

• 1 in 4 agencies can go out of business due to a lack of new agents.
• The average sale or connection takes place after the seventh connection attempt, but most agents give up after the second call.
• The highest priority in sales is filling the pipeline.

Resources Mentioned:

• Unroll Me
• Vidyard
• BombBomb
• The 5 Love Languages by Gary Chapman
• Our First Video Podcast with Patrick Bet-David!
• Ep. 104 The Student Debt Crisis and How Employee Benefits can be the Solution

Connect with Mark Evans:

• Standard Sales Co.
• LinkedIn
• Instagram
• Book: The Definitive Guide to Building Seven-Figure Sales

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

Connect, Learn, Share

Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!