Power Producers: The MacDonald Sessions 1

In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Peter MacDonald, Co-Founder & CEO of Wunderite for Part 1 of a four-part series called "The MacDonald Sessions." They discuss the gap analysis and the reasons why it plays such an important role for producers. Episode Highlights: David shares why he likes interviewing people who were once agents turned InsurTech guys, because they don't forget what they did as agents. (2:25) Peter explains why it is never beneficial to do free work for people who are never going to buy from you. (5:29) Peter breaks down how he used to do a gap analysis with winning the account and Broker of Record. (9:18) David shares that you should know everything that the person you're meeting with is tied to, both as an entity and as an individual. (13:05) Peter shares that his most extensive account ever closed as a result of uncovering something missing from the umbrella was $200k. (16:37) Peter shares how he uncovered and talked about savings and overspending with his clients. (21:13) Peter talks about ordinances or laws requiring people to do something to their homes that they do not want to. (26:36) Peter shares how he would communicate with his clients without overwhelming them with too much information. (30:36) Tweetable Quotes: "What we're trying to do here in this gap analysis is not necessarily fix all the problems at once, right? Because you're probably not going to be able to do that, but it's just about all the things you can start to create pain about." - Peter MacDonald "You're trying to create a cumulative effect of all this stuff that you can point to, like, why are there so many mistakes? The number one place to start is named insured." - Peter MacDonald "What I don't want you to hear if you're listening to this is to do free work for people who are never going to buy from you. Like, that's what you don't want to do. You don't want to be stuck in a spot where you're like a net, analyzing people's risks." - Peter MacDonald Resources Mentioned: Peter MacDonald LinkedIn Wunderite David Carothers Kyle Houck Florida Risk Partners The Extra 2 Minutes