How to be a top insurance broker: Insights from 'The Challenger Sale'

Recent Cases: Claim for Violation of Insurance Code Requires Causation Farley v. Lincoln Benefit Life, No. 23-16224 (9th Cir. 2025); Small v. Allianz Life Ins. Co. of No. America 1222 F.4th 1182 (9th Cir. 2024) The California Insurance Code requires life insurance companies to provide policyholders certain kinds of notice and protections before a policy can be lapsed for non-payment of premiums. Plaintiffs in both Farley and Small challenged an insurer’s systemic practices of failing to comply with these statutes and sought on a class-wide basis a remedy that all such policies be deemed to be in effect since the date of the alleged improper lapse. Plaintiffs in these cases both contended that a violation of the lapse statutes in and of themselves created liability. The insurers contended that a plaintiff could only prevail if (1) a statute was violated and (2) the violation caused the policy to lapse. Thus, the courts analyzed the issue as between the “violation only” theory and the “causation” theory.   Both decisions adopted the causation theory. In fact, Farley merely relied on the precedent of Small. Two fundament arguments underlie these decisions. First, there is no private right of action under the applicable statutes. Thus, the claim becomes one for breach of contract and breach of contract requires both a breach and causation. Second, it is common that insureds intentionally allow term policies to lapse because they decide they no longer wish to pay the increasing premiums. Plaintiff in Smart alleged that she failed to pay her premiums only because she did not receive the required notices. Plaintiff in Farley alleged merely that she missed premium payments and, as a result of the insurer’s violation of the required lapse notices, her policy remained in effect. However, the class sought to be certified in both cases would necessarily include many people who intentionally let their policies lapse. As such, the common question of whether the statutes were violated did not predominate because causation could not be determined on a class wide basis and thus class certification was rejected by the Court of Appeals. The significance of these holdings, however, goes beyond the issue of class certification because the holdings of these two cases is that a mere violation of the insurance code may not be sufficient to establish a claim. Instead, causation is a basic element of such a claim. Learn more: https://lnkd.in/gD6ngKyE Signature Resolution

The Hidden Value Behind Your Insurance Quote A client contacted me recently with a simple question: “Can you give me a price for my four houses insurance?” It’s a common request — and an understandable one and I don't get offended as I get it often. After discovered his his motivation was looking for the cheapest deal in the market. My comments were " I guarantee we are not going to be cheap, in fact I will be charging you more. " These are what I told him -What goes into a proper insurance recommendation. Understanding your unique situation  Researching the best options across providers  Navigating complex underwriting  Educating you on risks and protections The end of the conversation was- " I sometimes charge client fees on top of the insurance premiums. " On another side of insurance- life, income and health insurance. Way more complex stuff we bring into the process. Medical history — to navigate underwriting and potential exclusions Financial statements — to ensure the cover aligns with assets, liabilities, and long-term goals. Psychology and mindset — because insurance decisions are often emotional, especially when protecting a home or loved ones. Legal frameworks — to interpret policy wording, exclusions, and claims processes. Communication skills — to explain complex terms in a way that builds trust and clarity. Regulatory & Compliance Knowledge Technology & Systems And more.... We wear many hats — and we do it to serve our clients with integrity and care. So yes, we deserve to be respected for the time, knowledge, and value we bring. This is not just my approach — it’s my identity. I don’t compete on price. I don’t chase transactions. I deliver real advice, backed by experience, care, and integrity. I charge a fee because I stand behind the value I bring — and I won’t compromise that. I’m not changing my approach. This is who I am. This is what I do. And this is how I protect what matters most to my clients.

We've written the same insurance policy four times. Each version caught what the last one missed. Most brokers review policies once. Maybe twice if there's a claim dispute. We've reviewed ours 400 times - literally line by line. Here's why that matters. The first version we wrote was at JLT in 2017. We reviewed the top 20 ICPL forms in the market, pulled the best language from each, and crafted something we thought was best-in-class. It was good. Syndicates signed on. Clients loved it. Then we wrote a public company version and realized the private company version had gaps. Definitions didn't quite align. Some provisions conflicted with others. Second iteration. When we moved to our next firm, we couldn't take our intellectual capital. So we wrote it again from scratch. Third time through, we caught outdated language, mismatched definitions, provisions that weren't as tight as they could be. Third iteration. At LION, we rewrote it completely. Reordered exclusion sections. Pulled general terms into one place. Made notice provisions crystal clear. Added carvebacks based on real client scenarios. This version is shorter, tighter, and the cleanest we've ever produced. Fourth iteration. But here's what makes this process valuable beyond just having great manuscript language. We built an annual stress test that compares every provision, every definition, every exclusion across global market forms. Each section has questions we ask during review. When we tell a client "this isn't market standard," we actually know. We're not comparing their policy to one form - we're comparing it to every iteration we've done over six years and every form we've studied. The LION manuscript is the bar. Every carrier form gets measured against it. Four iterations. Hundreds of reviews. One obsessive standard. …and then we customize it for you. The insurance market has evolved toward complexity. We've evolved toward clarity. Want boardroom intelligence with zero noise? Every week we share curated insights that cut through the chaos and help you make the best policy decisions. Join here: https://lnkd.in/garzxSxG LION Specialty. The Leader in Institutional Insurance. 🦁

When most people think about insurance, they fixate on the policy, the coverage limits, the premiums, it makes sense. After all, that's the document that’s supposed to protect you when things go wrong. The policy sits on paper. The broker sits beside you. A great broker doesn't just sell you coverage and disappear. They take the time to understand your life, your business, your unique circumstances.When disaster strikes, that’s when insurance matters most, you don't want to be reading policy documents alone. You want someone beside you who knows your file inside out, who can advocate for you with insurance companies, and who can cut through the mess to get your claim processed quickly. The wrong broker might save you a few dollars upfront by pushing the cheapest policy, but they'll cost you thousands in the long run through inadequate coverage, missed discounts, or gaps you didn't even know existed. The right broker does the opposite, they might recommend a slightly more expensive policy, but it's because they've identified risks you hadn't considered. Here's what genuinely good brokers bring to the table: 1. Relationships with multiple insurers, giving you real options, not just one insurer’s products 2. Experience with claims so they know which insurer actually pay out smoothly 3. The peace of mind that someone professional is watching your back So next time you're shopping for insurance, don't just ask "what's covered?" Ask yourself, "do I trust this person to have my best interests when I need them most?" Because when that moment comes, and it will, you'll realize the broker you chose matters far more than the paper they sold you.

What Your Insurance Policy Isn't Telling You: 5 Revelations from Inside the Industry Insurance is a cornerstone of modern financial life—a safety net we buy hoping we’ll never need. For most of us, it seems straightforward: you pay a premium, and if something bad happens to your property, the insurance company pays to make it right. It’s a simple promise of protection and peace of mind. But beneath this simple surface lies a world of surprising principles, shocking risks, and transformative ideas that challenge our basic assumptions about what insurance is and what it does. The true mechanics of the industry, which govern how billions of dollars in claims are evaluated and paid, are far more complex and counter-intuitive than most policyholders realize. This article explores five of the most impactful truths about the insurance world, drawn from industry manuals and expert analysis. 1. It's Not About Replacing Your Stuff, It's About a Predetermined Sum of Money A common misconception is that if your insured property is lost or destroyed, your policy’s primary job is to replace it. In reality, the core principle for many policies, especially in areas like marine insurance, is not replacement but indemnity—providing a pre-agreed sum of money as compensation. This is clearly illustrated by the concept of an "Agreed Value Policy." In this structure, the insurer and the policyholder agree on the monetary value of an item before the policy is finalized. If a total loss occurs, the insurer pays out that specific, predetermined amount, regardless of the item's market value at the time of the loss. Agreed Value policies are crucial in marine insurance because the value of specialized cargo and vessels can be difficult to determine or can fluctuate significantly during a voyage. This distinction is critical. It positions insurance less as a replacement service and more as a precise financial instrument designed to offset a specific, calculated monetary loss. It’s about restoring your financial position, not necessarily your physical possessions. "The insurers do not undertake to replace or reinstate cargo or vessels in the event of loss; they pay a sum of money, agreed in advance, that will provide reasonable compensation."

Finally got around to listening to this. While I find it irritating to hear people stating insurance companies are not in the business to pay claims (that is literally the business model), there was an important point in here.I'm paraphrasing this statement. There are smaller, nuanced insurance companies that are going to be more forthcoming with paying claims .I think the key word is nuanced. Keep in mind that filing insurance policies to be an admitted insurnace company (which people tend to prefer) is an expensive process. So insurance companies have an inherit reason to create insurance policies that can be as applicable as possible to as many businesses. That is the issue when claims get denied. The utilization of these policies that may or may not be specifically programmed to your business is the problem. Nuanced does not have to be small. Nuanced just needs to mean that your insurance partner is as invested in your world as you are. Our primary cargo partner is one of the largest insurance companies in the world. They are also heavily invested in the automotive sector so they have a vast amount of knowledge in how to handle auto transport cargo claims. And their insurance policies, claims team, and premium proposals reflect that knowledge. As an agent with the specialization I have in auto transport, the issue is not the insurance company. It's the agent. We are paid 10-15% of the premium to understand a company's risks and find a policy that responds to those risks. The problem is many agents never read the policies they sell, either due to inability or laziness, and/or they do not have the expertise in a particular industry to understand the risks. It's our job, and our licensed professional duty, as the agent to take care of the client first. Do not pay commission to an agent promising good premiums. Hire a partner who lives in your world.

The hardest part of the life insurance business isn’t finding clients, it’s keeping them. After nearly 30 years in the industry, I’ve seen talented agents write strong business… only to lose half of it a year later. It’s not because they didn’t know how to sell - it’s because they didn’t have a system to keep clients engaged after the sale. Here are the three biggest reasons I’ve seen persistency struggle across the industry: 1. No post-sale follow-up - clients feel forgotten once the policy is issued. 2. Poor client understanding - unclear communication leads to easy cancellations. 3. Missed billing issues - preventable lapses from failed drafts or date changes. Persistency isn’t about luck - it’s about structure, education, and consistent communication. Because at the end of the day, you don’t get paid for what you sell. You get paid for what stays. Read my full article on how to improve persistency in life insurance sales: https://lnkd.in/dsfvR-hB Agents - what’s one thing you do to make sure your clients stay protected long after the sale?

Customer satisfaction with individual life insurance providers in the United States has shown stability this year, yet the latest data from the J.D. Power 2025 US Individual Life Insurance Study uncovers significant disparities among brands. The study, unveiled today, highlights a substantial 118-point difference between the top and bottom performers on a 1,000-point scale. Moreover, a noteworthy 70% of insurers experienced notable fluctuations in their customer satisfaction ratings, with many witnessing double-digit shifts compared to the previous year. This variance is largely attributed to variations in relationship management practices and the channels through which policies are acquired. https://lnkd.in/gPkdHevs

Legacy tech has quickly become a competitive liability in the insurance landscape. This isn't unique to the industry, but it's especially acute here. After all, insurance is over 200 years old. The way products have been built and sold over the last several decades made sense for that era. But those same systems simply can't deliver the speed, flexibility, or quality that consumers now expect as baseline. Here's the problem: everything else got easier. Searching, finding, buying—it all feels more personal and immediate, whether you're ordering food or booking travel. Insurance isn't as simple to deliver as retail, but that doesn't matter to consumers. The expectation is set. Buying coverage should be easy. The experience should feel fulfilling, not like a chore you're forced to endure. To deliver that, you need to think end-to-end. You need a platform built for seamless digital experiences from the ground up—starting with core functions, designed for scale, then expanding to new features. Legacy systems can't do that. They weren't designed to. But I believe the real barrier isn’t technical. It’s strategic. Most carriers know they have technology debt. They talk about modernization. But they're trying to transform while still running on the infrastructure that's holding them back. It's a conundrum: migrating legacy tech to meet new consumer standards is slow and expensive. And by the time you finish? Consumer behavior has already evolved past what you just built. The carriers that will win aren't the ones trying to retrofit old systems. They're the ones building for where the puck is going—dedicating resources to a future state, even if it means running dual operations for a while. Yes, it's costly. Yes, it requires sustaining your current business while building the next one. But without a clear strategy for where consumer needs are headed, companies risk becoming less relevant in a rapidly changing market. What it takes culturally: Seasoned radicals. People who understand how things have been done, but stay curious about how they can be better. People with the grit to find a new way, even when the old way is still generating revenue. Because legacy tech isn't just a system problem. It's a belief problem. And the companies willing to build for the future—rather than just maintain the past—are the ones that will lead the next era of insurance.

Lets face it ,Group Insurance is a complex subject, that only a broker, after years of training and experience, truly understands. It is the responsibility of the broker to understand what is in the best interests of their clients. In most states, when a group has more than 100 eligible employees, the rates are based on the groups experience, with respect to utilization. So when a large group receives a large rate increase, it is purely based on the prior years claims history, or to make it simple, the amount of money the insurance company had to pay, to medical providers. If a group feels that the high utilization, was due to nonrecurring shock claims, that generated the higher than anticipated utilization, they may want to consider self insurance, that has guarantees based on the specific and aggregate stop loss coverage, that may generate, a lower aggregate cost, than the fully insured plan. Yes, stop loss coverage generates a guaranteed maximum exposure; however it may exceed, the cost of fully insured coverage. I am communicating these facts, based on an ad, published yesterday that was totally inaccurate. It depicted a CFO that was forced to cancel the company's Christmas party and bonuses, due to a large increase in his fully insured Group Medical premium. The broker, did not save the day, due to his non-guaranteed, self insured proposal. Truth be told, based on future utilization, the company could end up spending, far more on a self insured plan. So the broker did not save the clients day, so all can rejoice! The broker misstated the truth.