Young Agents Take On the Hard Market: Talking Renewal Tactics

Agency Nation Radio

On this episode of Agency Nation radio podcast, the Big “I” Young Agents and Trusted Choice are teaming up to bring you the first episode in a special hard market bonus series. Guests Cash McMillen, National Young Agents Committee member and Vice President at the Cashion Company, and Patricia Clawson, CEO of Clawson Insurance and member of the Florida Young Agents Council, talk about renewals in the current marketplace. In their conversation, moderated by Taylor Hendrickson, Director of the Young Agents Council at the Florida Association of Insurance Agents, and member of the Big “I” National Young Agents Committee, McMillen and Clawson discuss some of the challenges they have faced in their agencies with renewals due to the hard market. They dive into how they have managed rate increases and created renewal timelines. They also focus conversation on some of the challenges with property valuations and remarketing accounts. Clawson, when talking about how to communicate rate increases to customers said, “We want proactive, intentional communication throughout the year, not just when the renewal offer has been issued. So, we don’t want the first time our client has heard from us all year to be when we are presenting them with a renewal offer. So, what we've been trying to do is utilize these opportunities for proactive communication to educate our insurers on how we got here in the first place.” This session provides helpful information on how to handle renewal conversations – with customers, carriers, and state insurance departments – and resources to do so. As part of this bonus series, the Young Agents recommend the Trusted Choice Hard Market Toolkit as a valuable resource that includes a remarketing checklist, renewal preparation forms, and other materials that can help with these conversations. Agency Nation Radio is where insurance professionals turn on the mic and share unscripted stories about leadership, technology, marketing, success, and failure—stories that helped make them the professionals they are today. From Main Street USA to the pages of Independent Agent magazine—we've got the stories you want to hear. For more, catch Agency Nation Radio on your favorite streaming platform or visit iamagazine.com/podcasts. Download the Trusted Choice Hard Market Toolkit https://lp.independentagent.com/hardmarket Meet the Guests Taylor Hendrickson LinkedIn: https://www.linkedin.com/in/taylor-hendrickson-6433b136/ https://www.faia.com/yac Cash McMillen LinkedIn: https://www.linkedin.com/in/cash-mcmillen-cic-a6a17532/ www.cashionco.com; https://www.bigiarkansas.com/Education Patricia Clawson LinkedIn: https://www.linkedin.com/in/patricia-clawson-hamilton-b2b61956?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=ios_app www.clawsoninsurance.com