Insurtechs.io

After 20 years in the insurance industry, I've observed that the biggest difference between a successful, growing, thriving agency and an agency barely making it, is found in how well they invest in their sales skills. As much as I love marketing and technology, those are nothing more than enablers. The real differentor is having real sales skills. Marketing only amplifies a problem when you can't close sales. You need to continually invest in training, developing, and building quality sales people who know how to prospect and close. NOTE: I wrote this from my cell phone, no AI used.

Well looks like the FCC's TCPA one-to-one consent ruling is not coming back. The Eleventh Circuit Court of Appeals today denied an effort by several parties to intervene and defend the rule after the FCC backed away from it. This development appears to mark the end of the road for the one-to-one ruling and permits multi-party lead generation to move ahead full speed. Responsible Enterprises Against Consumer Harassment (R.E.A.C.H) will be modifying its standards in light of this development. More soon. Troutman Amin LLP Law Conference of Champions Deserve to Win Magazine #tcpa #fcc #leadgen #imc #leadgeneration #consent #onetoone #deservetowin

I had a fascinating conversation with a friend and leader in litigation defense Matthew Monson, Esq. that opened my eyes to some major shifts happening in litigation funding.   Two things really gave me pause. First, more and more companies are buying and selling interests in cases from secondary markets like commodities attracting even more institutional money off the sidelines for TPLF.  Second, firms are sidestepping traditional acquisition channels with offshore lead generators who seem unbothered by rules and boundaries around mass solicitation. How do things change when firms can buy 200 leads and generate cases with minimal investment? Should more regulation be placed on solicitation given when we’re seeing from offshore lead generating operations? And no matter what happens next, I think carriers should care deeply about these changes. Why?! Because even if you’re managing your case inflow at an exceptionally high level, someone else is actively betting against you!  This might sound threatening because it is! Stay sharp!  To my claims leader friends out there, what are you all seeing here? How are you staying ahead?   

Tesla Inc.'s insurance business wrote close to $1 billion of direct premiums in 2024 through a combination of its managing general agent relationships and its own insurance companies. Total direct premiums written grew by 87.5% to $970.8 million in 2024, up from $517.6 million in 2023. Premiums at Tesla's affiliated insurance companies grew 188.2% to $316.7 million. The company's own underwriting units now represent a larger portion of total premiums underwritten at 32.6%, up from 2023's 21.2%. The majority of Tesla's direct premiums written were through its managing general agent (MGA) relationship with State National Insurance Co. Inc., a subsidiary of Markel Group Inc. An MGA is a specialized insurance broker that has been granted certain powers and performs several functions generally handled by an insurance company.

From AM Best TV: "Start-up MGAs Often Evolve Into Full Stack Carriers" I joined the show to share how Insurtechs often test products as managing general agents, then grow to become full stack carriers, something I profiled in my book "The Future of Insurance, Volume II" https://lnkd.in/eKeWMvHu #insurtech #insurance #futureofinsurance #book #innovation