Insurance Business Babes

Don't Be Boring: How Personality and Passion Can Transform Your Insurance MarketingWhen it comes to building a thriving insurance business, standing out from the crowd is key. In the latest episode of the Insurance Business Babes podcast, hosts Joanna Wyckoff and Kathe Kline share invaluable insights into why infusing your marketing with your unique personality and passions isn't just more fun—it's also a winning strategy.Let Your Passions Shine ThroughKathe shares the story of an agent whose love for sports became the heartbeat of his marketing. Instead of a boring, generic ad, he brought a local college athlete into the mix, letting his authentic enthusiasm pull in clients with similar interests. The message: skip the cookie-cutter pitches—clients connect with people, not sales slogans.Personal Touches That StickJoanna and Kathe dive into creative ways to make your business memorable. Joanna, who's both an artist and athlete, sends out custom birthday cards featuring her own artwork, tying in her synchronized swimming passion by using a mermaid design. These personal cards aren't just eye-catching—they spark real conversations and connections with clients, who frequently notice and comment on these unique touches.Similarly, Kathe discusses leveraging family talents and interests—whether gifting potted plants grown by her sister or sending homemade jams from a baking enthusiast agent. These thoughtful gifts and gestures go far beyond the standard client relationship, making clients feel truly appreciated.Making Meaningful ConnectionsThe heart of Joanna and Kathe's advice? Attract the right clients by being authentically you. Share your hobbies on social media. Host events that reflect your interests, from ice cream socials to movie nights or cooking classes. Not only do these strategies make your days more enjoyable, but they also foster loyalty, referrals, and conversations that go deeper than just insurance plans.Final Words: Don't Be BoringThe ultimate takeaway: your personality is your superpower. In a field where everyone may offer the same products, your authentic connections and creative approaches are what will keep clients coming back—and telling their friends. So, when it comes to your insurance business, remember the golden rule from Joanna and Kathe: don't be boring!This episode is sponsored by CertifiedMedicareAgents.com. Use the coupon code BABES2024 for a free lifetime BRONZE membership.

Crafting Effective Email Strategies for Insurance Prospects and ClientsIn this episode of the "Insurance Business Babes" podcast, Kathe Kline and Joanna Wyckoff delve into the nuances of email communication in the insurance industry, offering a treasure trove of insights for agents looking to refine their approach.Client Communication: Less is MoreKathe begins by detailing her client email strategy, which revolves around sending just one email per month to prevent overwhelming her clients. This strategic choice not only respects her clients' inbox space but ensures that each communication is valued and not lost in a sea of emails. The Power of the Freebie for ProspectsFor prospects, Kathe emphasizes the importance of lead magnets, or "freebies," which attract prospects seeking valuable information. By offering a checklist on navigating Medicare, she captures emails and gradually nurtures these leads through a well-crafted sequence of informative emails. Kathe's advice to create personalized content, rather than copying from others, highlights the need for authenticity in client interactions.Maintaining Prospect EngagementKathe discusses her prospect 52-week email sequence, designed to keep her prospects engaged without resorting to constant sales pitches. Valuable information forms the core of these communications, with every fifth email gently prompting prospects to schedule an appointment. This approach ensures prospects view the emails as beneficial rather than spam.Maximizing Content and Partner CollaborationThe episode closes with practical advice on repurposing content and collaborating with partners. Using Pretty Links to share concise URLs, Kathe maximizes her content's reach. Encouraging cooperation with referral partners, she suggests utilizing their content, adding diversity and depth to her communication strategy.ConclusionAs Kathe and Joanna reiterate, automation and smart email strategies can transform client and prospect relationships. By striking the right balance between information and promotion, insurance professionals can significantly enhance their engagement and conversion rates.This episode is sponsored by CertifiedMedicareAgents.com Use the code BABES2024 to get the BRONZE membership for FREE.

Understanding the Importance of Tracking Metrics in Insurance BusinessIn our latest episode of the Insurance Business Babes podcast, hosts Kathe Kline and Joanna Wyckoff delve into a crucial aspect of managing an insurance business: metrics. These essential tools can transform a fledgling side hustle into a thriving enterprise by offering insights into profitability, productivity, and growth opportunities.Profit Tracking and Expense ManagementAs Joanna emphasizes, "Profit is crucial in any business." Understanding your financial health involves more than just knowing your gross income. It's vital to assess net income by tracking all expenses carefully. Kathe passionately discusses the impact of reading "Profit First" on her approach to spending and profitability. She highlights that without attentiveness to where your money goes, marketing, technology, and licenses can quickly eat away potential profits.Retaining the Right ClientsBoth hosts stress the importance of client retention. Joanna notes, "Policy retention rate is big," underscoring the necessity of building lasting relationships with clients, especially those referred by trusted sources. Tracking referrals is equally important, as they often result in better client retention rates. Kathe explains how she connects referrals in her CRM to identify top referrers, strengthening those critical business relationships.Streamlining Operations and Time ManagementEfficient time management is another focal point of their discussion. Joanna urges agents to "track their time diligently," ensuring a focus on productive, income-generating activities. With modern tools available, from AI-powered assistants to dedicated CRMs, agents can streamline their workflows and focus on growing their business.Diversifying Product OfferingsTo mitigate market risks, diversifying product offerings becomes a strategic imperative. Joanna shares her success in expanding beyond Medicare into med supp, cancer, heart attack, and annuities, emphasizing that diversification ensures resilience in a fluctuating market.ConclusionIn conclusion, tracking key metrics such as profit, client retention, time management, and product diversification can significantly enhance an insurance business's efficiency and success. By implementing these strategies, agents can secure their financial future and scale their operations with confidence. Tune in next time on Insurance Business Babes for more insights into building a prosperous insurance business.This episode is sponsored by CertifiedMedicareAgents.com

Scaling Your Insurance Business: Strategies and ToolsIn the latest episode of the Insurance Business Babes podcast, hosts Kathe Kline and Joanna Wyckoff explore the crucial topic of scaling an insurance business. They share insights and practical advice on how to efficiently manage and grow a client base without sacrificing time or resources.Joanna and Kathe emphasize the importance of leveraging technology to enhance business operations. A prime example they discuss is the use of VOIP phone systems, like RingCentral or Dialpad, that not only record calls but also provide AI-generated summaries. This feature allows agents to quickly access details from previous conversations, ensuring they maintain strong client relationships and efficiently resolve issues without relistening to entire calls.The episode also highlights the necessity of being strategic with client services. Joanna shares the example of Benelink, a subcontractor for carriers that assists clients with renewing Medicare Savings Programs. By directing clients to such services, agents can focus on tasks that directly contribute to business growth rather than spending time on non-revenue-generating activities. This approach not only saves time but also reduces liability risks.Kathe discusses the benefits of flexible compensation models, especially when onboarding new agents or partners. This model can attract part-time agents who bring additional experience and networks to the business, ultimately aiding in its growth.Joanna explains the advantages of using Sunfire over Connexure for quoting and applications, primarily due to its comprehensive features like verifying client information, checking Medicaid levels, and providing a seamless application process. Having the right tool can drastically reduce errors and increase efficiency, which is essential for scaling an insurance business.As their conversation reveals, scaling an insurance business requires a combination of strategic client management, the right technological tools, and flexible operational structures. By adopting these practices, insurance agents can effectively grow their businesses while maintaining high standards of client service.This episode is sponsored by CertifiedMedicareAgents.com

Navigating the Transition: Changing Your Upline in the Insurance IndustryIn the dynamic world of insurance, making the decision to change your upline involves careful consideration and strategic planning. As discussed by Kathe Kline and Joanna Wyckoff in the "Insurance Business Babes" podcast, understanding the intricacies of this process is crucial to making a smooth transition.Understanding the Release ProcessBefore initiating a move, agents must understand the release process. It's essential to have a conversation with your current upline, expressing your intention and discussing any financial investments made, such as marketing funds. Joanna emphasizes the importance of treating this like a professional relationship – a courtesy call can help maintain the goodwill necessary for future interactions.Self-Release TimelineIf an immediate release is not granted, agents should be aware of the industry-standard, a 90-day self-release from most carriers. This means starting the process by notifying the carrier of your intent to move, initiating the clock on the 90-day period. Kathe and Joanna recommend beginning this process well ahead of critical selling periods, like AEP, to avoid getting stuck due to blackout periods, which often commence from July 1st.Managing Financial ArrangementsConcerns about financial entanglements with your current upline are valid. The podcast notes that uplines continue to receive overrides on existing policies unless rewritten, alleviating some guilt an agent might feel about ‘abandoning' an upline. However, being upfront about any marketing money or coop advances and handling those arrangements ethically is crucial.Exploring New OpportunitiesWhen considering a new upline, agents are encouraged to thoroughly vet potential partners. Assessing the support, resources, and technology the new upline offers is critical. Kathe and Joanna suggest requesting demonstrations of promised systems and potentially signing a limited number of contracts first to test the relationship.Final ThoughtsChanging your upline is not just a business decision but also a step towards aligning with partners who better suit your professional goals. By taking thoughtful and measured actions, as outlined in the podcast, agents can ensure a transition that strengthens their business operations and future success.This episode is sponsored by CertifiedMedicareAgents.com

In this episode of the Insurance Business Babes podcast, hosts Kathe Kline and Joanna Wyckoff welcome Susan Sutton, a seasoned carrier representative from Ohio, to discuss strategies that could significantly enhance business growth in the insurance sector. They delve into the importance of making timely follow-up calls to clients and leveraging the Open Enrollment Period (OEP) to solidify relationships and garner referrals. Susan shares valuable insights into registered sales events, enhancing client engagement and education. The hosts and Susan also emphasize the significance of cultivating systems for client follow-ups and exploring cross-selling opportunities with complementary insurance products such as hospital indemnity and cancer policies. Throughout the episode, innovative strategies for client retention and business growth are highlighted, providing listeners with actionable tips to navigate OEP effectively.Both Kathe and Joanna were blown away by one tip Susan offered, which neither had considered. This episode is sponsored by CertifiedMedicareAgents.com

Building Strong Relationships with Carrier RepsIn the latest episode of the "Insurance Business Babes" podcast, hosts Kathe Kline and Joanna Wyckoff stress the significance of cultivating strong relationships with carrier reps in the insurance industry. Through anecdotes and practical advice, they highlight the advantages of such alliances.The Importance of Carrier ConnectivityKathe opens with a reminder that while frustrations with carriers are common, maintaining a good rapport with them is invaluable. She shares a recent experience where her patience and initiative in engaging with her carrier rep, Fred, turned a potentially frustrating situation into a successful outcome. The situation emphasized how essential it is to have reps who are willing to advocate on your behalf.The Power of a Good Broker ManagerJoanna supports Kathe's claims by sharing her own positive interaction with a broker manager, underscoring the benefits of building a solid network with them. These relationships can prove crucial, not just for troubleshooting issues but also for gaining access to opportunities that might otherwise remain out of reach. Broker managers can be a powerful resource for aligning agents with client needs, managing fieldwork, and even distributing marketing resources effectively.Why Avoiding Carrier Bashing is CrucialBoth hosts stress the importance of maintaining professionalism, particularly in open forums or social media groups. Kathe and Joanna caution against publicly “bashing” carrier reps. Negative comments can impact your relationships, especially since the insurance world is surprisingly small; a poor reputation can follow agents across different carriers and roles.Making Connections Beyond Immediate BenefitsJoanna reminds us that the value of these relationships extends beyond immediate sales. Carrier reps often shift roles and companies, so today's interactions could open doors to future business opportunities. Both Kathe and Joanna advocate for investing time in relationship-building, as these connections can lead to unexpected benefits, including promotions, client introductions, and collaborative events.In conclusion, fostering positive relationships with carrier reps and broker managers isn't just professional etiquette; it's a strategic move to ensure long-term career success in the insurance industry.This episode is sponsored by CertifiedMedicareAgents.com

In this episode of the Insurance Business Babes Podcast, hosts Joanna Wyckoff and Kathe Kline discuss the challenges and strategies for insurance agents in focusing on profitable endeavors, rather than getting distracted by less beneficial tasks. They share their experiences with selling travel and dental insurance without needing multiple state licenses or excessive contracts. Emphasizing the importance of focusing on core business areas and efficient operations, they advocate for concentrating on local markets or specific products and avoiding the pitfalls of spreading oneself too thin. They also highlight the benefits of strategic partnerships and leveraging technology to streamline processes and improve client management. Ultimately, they encourage agents to hone their focus to achieve greater success and efficiency in their insurance business.This episode is sponsored by CertifiedMedicareAgents.com

Resolving Business Bottlenecks: Insights from Joshua MongeIn episode 61 of the Insurance Business Babes podcast, Kathe Kline interviewsJoshua Monge, a fractional Chief Operating Officer (COO), who shares his expertise on improving operations within small businesses, particularly insurance agencies. This blog post delves into key points from their discussion, providing valuable insights for business owners looking to optimize their operations.Monge starts by highlighting the importance of identifying bottlenecks within a business. He compares the flow of business operations to a river, where blockages can significantly impede progress. Surprisingly, in many small businesses, the owner is often the bottleneck. Monge recommends conducting a thorough review of business workflows to locate and address these problem areas. By doing so, small business owners can reclaim valuable time and improve operational efficiency.A recurring theme in the conversation is the necessity of delegation and leveraging technology. As Monge points out, “if you have a business and you don't have an assistant, then you are the assistant.” Effective delegation ensures that business owners can focus on higher-level tasks. For those hesitant to hire full-time help, Monge suggests leveraging AI tools for administrative tasks, email management, and workflow automation. These technologies can be instrumental in reducing workload and improving efficiency.Monge emphasizes the critical role of documentation in business operations. Detailed documentation of processes and workflows not only streamlines current operations but also adds value to the business. Documented processes can be copyrighted, transforming them into intellectual property (IP). This IP can significantly enhance the business's value during evaluations or when planning an exit strategy.Another essential component discussed is the hiring process. Monge advises business owners to hire individuals whose skills complement their own. For instance, if the owner is a big-picture thinker, hiring a detail-oriented assistant can create a balanced team. Clear job descriptions and documented workflows facilitate smoother onboarding and help new hires become productive more quickly.The discussion also underscores the importance of planning for unforeseen disruptions. Monge suggests maintaining backups of key systems and understanding the potential implications if a critical tool or employee is suddenly unavailable. Having a contingency plan ensures business continuity even during unexpected challenges.Joshua Monge's insights offer a roadmap for small business owners, particularly in the insurance sector, to enhance their operations. By addressing bottlenecks, embracing delegation and technology, rigorously documenting processes, hiring strategically, and preparing for the unexpected, business owners can achieve greater efficiency and resilience.For those interested in learning more about operational improvements or seeking fractional COO services, Monge can be reached through his website, thinkadaptbuild.com, or on LinkedIn.These insights provide actionable steps that any insurance business owner can implement to streamline their operations and promote sustainable growth. Tune into the Insurance Business Babes podcast for more expert advice and industry insights.This episode is sponsored by CertifiedMedicareAgents.com

Local Marketing: A Game-Changer for Insurance AgentsIn this week's episode of the Insurance Business Babes podcast, hosts Kathe Kline and Joanna Wyckoff elaborated on the power and efficiency of focusing on local marketing. Here are some key insights from their conversation.Kathe shares her experience since moving from California to South Carolina in 2019. She initially saw a decrease in client acquisition but eventually achieved remarkable growth by focusing on her new neighborhood. For instance, in 2022, Kathe managed to get 103 new clients by primarily concentrating on a local marketing, including a specialized Facebook group. She emphasized the importance of building a name for oneself within the community, just like real estate agents do. By centering efforts on a neighborhood, agents can become well-known, ultimately leading to an influx of business through word-of-mouth.Joanna highlights the inefficiency of being licensed in multiple states. She recounts how dealing with an unfamiliar state's insurance plans can be time-consuming and less profitable. Focusing on specific regions, such as metro Atlanta and now Texas, allows Joanna to become an expert in those local plans and networks. This specialization saves time and helps provide clients with more tailored, knowledgeable advice.Both hosts advocate the strategic use of Facebook groups. Kathe's method involves starting a local group without direct promotion of her business. Instead, she builds trust and authority by being a helpful community member. Joanna notes that agents should avoid constantly pushing their services within these groups as it tends to become annoying. Instead, focusing on providing valuable, relevant information can lead to organic referrals.Kathe and Joanna also emphasize the benefits of co-marketing with professionals such as real estate agents. These collaborations can provide mutual benefits, sharing marketing costs while enhancing community reach. Co-hosting open houses or tagging team efforts can work wonders in building a robust local client base.Perhaps the most critical takeaway is the importance of consistent and patient effort in local marketing. Both hosts agree that it takes time to build a reputation and receive consistent referrals. However, once established, it becomes easier to close sales and maintain a steady influx of new clients.Local marketing can be a game-changer for insurance agents. By building solid relationships within their community, specializing in local plans, leveraging Facebook groups wisely, and collaborating with other local professionals, agents can significantly boost their clients while working more efficiently. The key is consistency and focusing on providing genuine value to the community.This episode is sponsored byCertifiedMedicareAgents.com

In this episode of "Insurance Business Babes," Joanna Wyckoff shares a challenging incident where a client was unwilling to engage with her assistant due to racial bias. This underscores the ongoing issues of discrimination that persist even in professional settings. Joanna emphasizes the importance of her office process, where clients must communicate with her assistant for scheduling—allowing her to focus on more critical insurance matters. Kathe Kline suggests tools like Calendly for online scheduling, yet Joanna points out that some clients still prefer or are unaware of these digital methods. Kathe's alternative approach to managing her workload includes not working on Wednesdays, reserving these mid-week breaks for personal and administrative tasks. This practice helps her maintain work-life balance, ensuring she never disrupts personal time unless absolutely necessary. The hosts discuss the benefits of consolidating multiple appointments in a single day rather than spreading them across the week. Kathe's extensive experience building and selling businesses gives her unique insights on client retention, particularly during challenging times like the COVID-19 pandemic. Highlighting the importance of owning communication systems, Kathe prefers using VoIP services to avoid complications when changing firms. Owning one's client data is crucial in the insurance industry, notes Joanna, who has faced difficulties in data export during company switches. Regulations require keeping call recordings for ten years; therefore, effective data management tools like RingCentral and Dialpad ensure compliance while managing workload efficiently. As the hosts discuss the Annual Enrollment Period (AEP), Joanna recommends transforming thoughts and tasks into checklists to stay organized. Both hosts rely on digital calendars to manage their schedules, ensuring priority tasks are completed first. They also address client needs proactively, from reviewing Medigap before or after AEP to considering additional coverage options. Networking remains a cornerstone of business growth for Kathe, who initially invested in groups like BNI (Business Network International). The BNI model teaches effective networking and the importance of referrals. Kathe advises continually seeking new referral partners, as current partners may leave or change careers. Finally, Kathe emphasizes the necessity of self-care to avoid burnout during intense periods like AEP. Setting work limits and ensuring breaks for meal times can significantly increase productivity. Both hosts stress the importance of retaining existing clients, highlighting that it's easier and often more valuable than acquiring new ones. “Insurance Business Babes” reminds insurance professionals of the importance of balancing professional responsibilities with personal well-being, the efficiency of managing client interactions, and the continual pursuit of networking opportunities. Stay tuned for more insights and practical advice from Kathe Kline and Joanna Wyckoff! Stay tuned for new episodes to continue enhancing your insurance business acumen with Kathe Kline and Joanna Wyckoff. This episode is sponsored by CertifiedMedicareAgents.com

In the latest episode of the "Insurance Business Babes," hosts Joanna Wyckoff and Kathe Kline dove into an insightful discussion on balancing business growth with maintaining a fulfilling lifestyle. The hosts address the age-old debate: Should one scale their business for greater financial gain, or prioritize a simpler, more content life? Kathe shared an anecdote about a Mexican fisherman content with his modest, yet fulfilling life, contrasting with the American tourist's ambition to scale his income. Kathe resonated with the fisherman, advocating for a business that sustains her financially without demanding aggressive expansion. Her approach involves working three days a week, allowing her to engage in personal activities like art and synchronized swimming. Joanna and Kathe emphasized the importance of technology and automation in modern business practices. Kathe engages leads with a sophisticated drip email system while Joanna employs a robust CRM integrated with platforms like Sunfire and Zapier. By building systems to handle routine tasks, both hosts manage to streamline their processes, reducing manual labor and minimizing errors. This technological embrace allows them to maintain high levels of efficiency, catering to a large client base with minimal stress. Despite the heavy use of automation, both hosts highlighted the importance of maintaining a personal touch. Kathe prefers to hand-sign birthday cards, creating a more heartfelt connection with her clients. Kathe, while appreciating the efficiency of automation, understands the unique value that personalized interactions bring to client relationships. Joanna shared valuable advice on outsourcing tasks that are outside one's expertise, such as bookkeeping and administrative duties. Kathe recommends using cost-effective bookkeeping solutions like WAVE, similar to QuickBooks, to track business spending meticulously. One of the major takeaways from this episode was the emphasis on work-life balance. Kathe discussed her strategy of allocating specific days for work, ensuring her personal life doesn't take a backseat. Joanna advocated for meticulous organization, using time blocks for every aspect of life to avoid burnout and enhance productivity. Finally, the importance of building relationships with not just senior clients but also their families was discussed. Joanna shared an experience where not keeping the family informed cost her a client. This underscores the necessity of effective communication and relationship-building in the insurance business. In conclusion, the Insurance Business Babes provided a comprehensive look at the importance of balancing professional ambitions with personal fulfillment, leveraging technology efficiently, and maintaining meaningful client relationships. Their insights are invaluable for anyone navigating the complex world of business and lifestyle balance. This episode is sponsored by CertifiedMedicareAgents.com

In this episode of "Insurance Business Babes," hosts Joanna Wyckoff and Kathe Kline delve into the complexities and evolving landscape of disaster-related special election periods (SEPs) and their potential phase-out, largely due to misuse by giant call centers and regulatory changes from CMS. They discuss the impact these changes have on independent agents, including the challenge of managing client enrollments and commissions amidst growing restrictions and automatic enrollments. The episode covers various industry issues such as the influence of high-profile figures in policy-making, the role of nonprofits like Health Agents for America in advocating for agents' rights, and the struggle with non-commissionable plans and undertrained SHIP counselors. The hosts emphasize the importance of structured client processes, regulatory compliance, and the need for diversification into other insurance products to mitigate the risks posed by these systemic changes. This episode is sponsored by CertifiedMedicareAgents.com

As we leave the 2024 enrollment period, the ladies stress the necessity of evaluating what works and pivoting to more effective strategies. Joanna emphasizes refining actions proactively, while Kathe advises maintaining an inventory of time and actions to ensure maximum productivity. They underline the value of carrier training sessions, which mitigate inefficiencies and frustrations in handling applications, thereby keeping your operations smooth and profitable. Joanna passionately advocates for diversifying services. It's essential not just to focus solely on Medicare but to include products like critical illness and hospital indemnity insurance. Cross-selling has proved financially beneficial for many agents, with some doubling their income. Kathe is gearing up for a cross-selling training in Houston, spotlighting annuities and life insurance. Reflecting on the last AEP, Kathe reveals the pitfalls of handling numerous requests for Personalized Drug Plan reviews. Both hosts resonate on this challenge, discussing the frustrations of non-commissionable plan enrollments and advocating for self-sufficiency in learning through consistent training. They suggest using systems and automation to avoid manual errors in scheduling, as well as recording training sessions for future reference. A key theme throughout the discussion is balancing business profitability with providing necessary services. Kathe and Joanna stress the financial impracticality of taking on pro bono work without compensation. They highlight the need to prioritize tasks that yield productive outcomes. Joanna and her assistant have developed a system, including a document to streamline client communications and set boundaries on service limitations. Finally, the hosts shed light on the importance of prospecting and advocating for clients. Training agents to overcome fear and actively seek business is crucial. The episode ends with the poignant reminder that selling Medicare isn't merely about making a sale – it's about providing necessary services and protecting clients from potential financial risks. Tune in to "Insurance Business Babes" for more insightful discussions on transforming your insurance business practices! This episode is sponsored by CertifiedMedicareAgents.com

### The Importance of Succession Planning and Legal Preparedness in the Insurance Industry In a recent "Insurance Business Babes" episode, host Joanna Wyckoff welcomed Kim Hegwood to delve into the critical issues of succession planning and legal preparedness in the insurance realm. Their conversation highlighted several essential considerations that professionals and individuals must keep in mind to ensure stability and protection in the face of unforeseen circumstances. ### Succession Planning & Health Risks Joanna Wyckoff underscored the necessity of succession planning, drawing from her personal experience of a severe illness that nearly jeopardized her business. The unpredictability of life amplifies the need for certified and regularly updated succession plans, ensuring business continuity and personal peace of mind. ### Comprehensive Legal and Estate Planning Kim Hegwood, an experienced elder law attorney, elucidated the complexities of legal and estate planning. She emphasized that while trusts are portable across state lines, documents like power of attorney and wills require state-specific updates upon relocation. Hegwood's office offers a suite of services including estate planning, elder law, probate, and care management to address these needs comprehensively. ### The Necessity of Regular Updates Both speakers stressed the importance of regularly updating legal documents to reflect life changes such as divorce, childbirth, or death. This practice avoids complications, ensuring that estate plans accurately represent current intentions and beneficiaries. ### Educational Outreach and Client Understanding Hegwood's legal practice places a strong emphasis on educating clients about their legal documents. They use dedicated funding coordinators to help clients effectively fund trusts, enhancing the reliability and completeness of their estate plans. ### Guardianship and Trust Planning Guardianship and trust planning emerged as critical themes, particularly for families with disabled adult children. Proper trust planning ensures Medicaid eligibility and safeguards against long-term care disqualification. In Texas, counties may have guardianship programs, and planning often involves utilizing corporate trustees to ensure continued care. ### Planning for "Solo Agers" Joanna Wyckoff's identification as a "solo ager" highlighted the unique needs of individuals without immediate family. Hegwood recommended trust planning for these individuals to prevent assets from being absorbed by the state and to ensure proper care management. ### Senior Living Insights The episode rounded off with insights into senior living, challenging misconceptions by presenting it as an engaging and social option for the aging population. ### Conclusion The "Insurance Business Babes" episode with Kim Hegwood provided invaluable guidance on succession and legal planning. The discussions emphasized the importance of preparedness and regular updates, underscoring how proactive measures can safeguard against unforeseen challenges, ensuring peace of mind and stability for professionals and their loved ones. For more in-depth resources, listeners are encouraged to visit Hegwood's website, which offers free downloads and recorded webinars to aid in effective legal planning. This episode is sponsored by CertifiedMedicareAgents.com

Crisis Alert: Navigating Plan Closures and Provider Disruptions As agents in the ever-evolving landscape of Medicare, staying ahead of substantial changes is critical. The latest episode of Insurance Business Babes tackled urgent and pressing issues of plan closures and provider disruptions, highlighted by hosts Kathe Kline and Joanna Wyckoff. This year, Kathe Kline faced the daunting reality of 18 Medicare plans closing in her area. It's not just about informing clients; it's about comprehensive client care. Preceding the Annual Enrollment Period (AEP), Kathe's assistant diligently sent out notifications and made follow-up calls to ensure that no client was left uninformed. Kathe emphasized transparency, informing clients that certain actions, like using a guaranteed issue letter, meant she wouldn't earn a commission. Ensuring clients grasped the gravity of their choices was crucial in maintaining trust and service integrity. Adding another layer of complexity, some clients are also facing hospital and provider exits from networks. Joanna Wyckoff shared her experience with an entire county's primary hospital system severing ties with a major insurance provider. These disruptions don't come with guaranteed issue rights, complicating the scenario significantly. The urgency is palpable—clients are in a scramble to either switch plans or face out-of-network costs. These cases illuminate the importance of proactive client communication and a robust contingency strategy. Both hosts highlighted the profound impact automation has had on their business processes. Joanna discussed her success with bulk emailing Scope of Appointments (SOA) through her imo software, saving valuable time and avoiding the tiresome click-after-click manual method. Meanwhile, Kathe embraced creating automated systems for her client management, notably processing Facebook group requests efficiently through integrated software solutions. Artificial Intelligence (AI) is making notable inroads, although it remains a field of cautious optimism. Joanna's exploration of AI-driven voice assistants showcased potential but also flagged latency issues that might be disconcerting for clients. For now, AI is intriguing, perhaps not yet ready for prime time in customer-facing roles, but it is certainly worth keeping a pulse on advancements. In an environment replete with changes, an agent's responsiveness, streamlined operations, and ensuring they communicate effectively with clients are paramount. Plan closures and provider exits might be the current storm, but embracing automation and staying adaptable ensures agents like Kathe and Joanna can navigate such challenges efficiently and maintain their hallmark of exceptional client service. This episode is sponsored by CertifiedMedicareAgents.com

Crisis Alert: Navigating Plan Closures and Provider Disruptions As agents in the ever-evolving landscape of Medicare, staying ahead of substantial changes is critical. The latest episode of Insurance Business Babes tackled urgent and pressing issues of plan closures and provider disruptions, highlighted by hosts Kathe Kline and Joanna Wyckoff. This year, Kathe Kline faced the daunting reality of 18 Medicare plans closing in her area. It's not just about informing clients; it's about comprehensive client care. Preceding the Annual Enrollment Period (AEP), Kathe's assistant diligently sent out notifications and made follow-up calls to ensure that no client was left uninformed. Kathe emphasized transparency, informing clients that certain actions, like using a guaranteed issue letter, meant she wouldn't earn a commission. Ensuring clients grasped the gravity of their choices was crucial in maintaining trust and service integrity. Adding another layer of complexity, some clients are also facing hospital and provider exits from networks. Joanna Wyckoff shared her experience with an entire county's primary hospital system severing ties with a major insurance provider. These disruptions don't come with guaranteed issue rights, complicating the scenario significantly. The urgency is palpable—clients are in a scramble to either switch plans or face out-of-network costs. These cases illuminate the importance of proactive client communication and a robust contingency strategy. Both hosts highlighted the profound impact automation has had on their business processes. Joanna discussed her success with bulk emailing Scope of Appointments (SOA) through her imo software, saving valuable time and avoiding the tiresome click-after-click manual method. Meanwhile, Kathe embraced creating automated systems for her client management, notably processing Facebook group requests efficiently through integrated software solutions. Artificial Intelligence (AI) is making notable inroads, although it remains a field of cautious optimism. Joanna's exploration of AI-driven voice assistants showcased potential but also flagged latency issues that might be disconcerting for clients. For now, AI is intriguing, perhaps not yet ready for prime time in customer-facing roles, but it is certainly worth keeping a pulse on advancements. In an environment replete with changes, an agent's responsiveness, streamlined operations, and ensuring they communicate effectively with clients are paramount. Plan closures and provider exits might be the current storm, but embracing automation and staying adaptable ensures agents like Kathe and Joanna can navigate such challenges efficiently and maintain their hallmark of exceptional client service. This episode is sponsored by CertifiedMedicareAgents.com

### Overcoming Bias in Client Interactions In this episode of "Insurance Business Babes," Joanna Wyckoff shares a challenging incident where a client was unwilling to engage with her assistant due to racial bias. This underscores the ongoing issues of discrimination that persist even in professional settings. Joanna emphasizes the importance of her office process, where clients must communicate with her assistant for scheduling—allowing her to focus on more critical insurance matters. ### Leveraging Technology for Scheduling and Retention Kathe suggests tools like Calendly for online scheduling, yet Joanna points out that some clients still prefer or are unaware of these digital methods. Kathe's alternative approach to managing her workload includes reserving these mid-week breaks for personal and administrative tasks. This practice helps her maintain work-life balance, ensuring she never disrupts personal time unless absolutely necessary. ### Managing Appointments Efficiently The hosts discuss the benefits of consolidating multiple appointments in a single day rather than spreading them across the week. Kathe's extensive experience building and selling businesses gives her unique insights on client retention, particularly during challenging times like the COVID-19 pandemic. Highlighting the importance of owning communication systems, Kathe prefers owning her own VoIP services to avoid complications when changing firms. ### Tackling the Data Management Challenge Owning one's client data in your CRM is crucial in the insurance industry, notes Joanna, who has faced difficulties in data export during company switches. Regulations require keeping call recordings for ten years; therefore, effective data management tools like RingCentral and Dialpad ensure compliance while managing workload efficiently. ### Prioritizing Tasks During AEP As the hosts discuss the Annual Enrollment Period (AEP), Joanna recommends transforming thoughts and tasks into checklists to stay organized. Both hosts rely on digital calendars to manage their schedules, ensuring priority tasks are completed first. They also address client needs proactively, from reviewing Medigap before or after AEP to considering additional coverage options. ### Consistent Referrals and Networking Networking remains a cornerstone of business growth for Kathe, who initially invested in groups like BNI (Business Network International). The BNI model teaches effective networking and the importance of referrals. Kathe advises continually seeking new referral partners, as current partners may leave or change careers. ### Self-Care and Avoiding Burnout Finally, Kathe emphasizes the necessity of self-care to avoid burnout during intense periods like AEP. Setting work limits and ensuring breaks for meal times can significantly increase productivity. Both hosts stress the importance of retaining existing clients, highlighting that it's easier and often more valuable than acquiring new ones. ### Conclusion “Insurance Business Babes” reminds insurance professionals of the importance of balancing professional responsibilities with personal well-being, the efficiency of managing client interactions, and the continual pursuit of networking opportunities. This episode is hosted by CertifedMedicareAgents.com

**Enter the ACA Field with Ease** Joanna shares insights on how accessible the Affordable Care Act (ACA) field is, thanks to federal certifications and free certifications through state-based exchanges. She encourages agents to be transparent about their commission structures and discuss any commission deductions upfront. Often, agents find themselves in the ACA realm quite by chance, especially when working with older clients, offering them a pathway to earn while building a Medicare book. **Maximizing HealthSherpa's Efficiency** The episode highlights HealthSherpa as an essential tool that simplifies the ACA application process. For agents, the platform offers automated processes, allowing clients to fill in their details via personal URLs. Its ability to handle out-of-state sales wherein licensed agents can receive referral fees adds another layer of convenience. **Financial Potential and Client Flexibility** Joanna discusses the substantial financial opportunities within the ACA, noting that initial compensation and renewals vary by state and carrier but usually provide a consistent income. Unlike Medicare, ACA sales often involve families, meaning one sale can cover multiple individuals. The ACA marketplace also provides clients with flexibility, as they prioritize budget over specific doctors, facilitating easier plan selection. **Appreciation and Referral Dynamics** One key takeaway from the podcast is the emphasis on showing appreciation for referrals. Joanna shares her personal experience of a lack of gratitude from a contact in California, stressing the importance of simple gestures like a thank you card. Building an ACA business involves engaging with people, understanding enrollment details, and recognizing special enrollment periods available year-round based on income levels. **Strategizing with ACA and Medicare** Joanna advises that an optimal business strategy includes incorporating ACA options while discussing Medicare, as many might become eligible before they turn 65. Notably, ACA clients might prefer these plans due to lower premiums and subsidies, despite Medicare offering better benefits. Overall, the episode concludes with encouragement for listeners to focus on ACA during the Medicare season, emphasizing the potential of ACA renewals and grassroots marketing strategies. Check out Joanna's advice and resources like HealthSherpa to take full advantage of these opportunities. This episode is sponsored by CertifiedMedicareAgents.com

# Should You Pay Your FMO for Training? Insights from the Insurance Business Babes **The Initial Investment: Paying for Training to Foster Seriousness** In the latest episode of *Insurance Business Babes*, hosts Joanna Wyckoff and Kathe Kline delve into a contentious topic: whether new insurance agents should pay their Field Marketing Organization (FMO) for training. Wyckoff starts by mentioning that although selling one application can cover a $200 monthly training fee, the investment creates a deterrent for those who are not serious about succeeding in the industry. She proposes that agents pay upfront for their training with a promise of a refund upon breaking even, ensuring only dedicated participants move forward. **The Cost of Entry: Low but Meaningful** Wyckoff and Kline highlight the relatively low cost of entering the insurance business—around $150 for licensing. However, this low barrier often leads to a sense of entitlement where new agents expect free training without appreciating the trainer's time. Wyckoff shares her personal journey, cautioning against early distractions like premature recruiting and emphasizing the need to treat the insurance practice as a serious business venture. **Entitlement and Expecting Free Training** An underlying theme discussed by both hosts is the issue of entitlement among new agents expecting free training and guidance. Wyckoff candidly mentions her frustration with the overwhelming demands from non-contracted agents seeking her expertise for free. Similarly, Kline expresses reluctance to form a downline due to the considerable effort required, which often goes unpaid if the agent underperforms. **Value of Documentation and Self-Reliance** The hosts stress the importance of self-reliance and efficient documentation. Agents are encouraged to take extensive notes during training and leverage Facebook groups for ongoing support. Self-sufficiency also extends to problem-solving, like contacting carrier help desks directly for technical issues, an approach both hosts advocate. **Specialization and Focus for Success** Kline shares a story about an agent whose lack of follow-up led to high client turnover. Wyckoff suggests that automation and virtual assistants could significantly help, emphasizing the importance of personal responsibility and proper business operations. The episode concludes with the hosts highlighting the value of focusing on a niche area. Specialization not only enhances client recall but also increases business success, a strategy that has been beneficial both to them and their referral partners. **Conclusion: Valuing Time and Proper Protocols** Ultimately, Wyckoff and Kline underline the necessity of valuing their time and setting clear expectations. From proposing payment for training to advocating specialized focus areas, their discussion serves as a valuable guide for new agents to navigate the industry successfully. Joining structured training programs and adhering to proper support protocols are crucial steps for any insurance agent aiming for long-term success. This episode is sponsored by CertifiedMedicareAgents.com

Hosts Kathe Kline and Joanna Wyckoff were joined by Jamieson Keller, Chief Commercial Officer at NCD, whose insights on dental insurance are invaluable for every Medicare agent. Cross-Selling Opportunities Jamieson emphasizes the importance of cross-selling dental insurance as a critical component of comprehensive client service. By integrating dental plans, agents can fill significant gaps in coverage that many clients overlook. This is not merely about augmenting sales; it's about addressing real healthcare needs. As Joanna Wyckoff noted, clients rely on their agents for full-spectrum coverage, making dental insurance an essential offer. Understanding the Value of Dental Plans Jamieson highlighted the need for agents to dive deep into dental insurance products to grasp their true value. Many plans offer significant in-network discounts, which can drastically reduce out-of-pocket expenses for clients. For example, the NCD by MetLife Dental Plans that Jamieson mentions provide phased benefits that improve over time, rewarding client loyalty and ensuring sustainable, long-term coverage. Mitigating Financial Pressures With recent changes in the Medicare Advantage (MA) and Prescription Drug Plan (PDP) spaces, where some carriers are cutting commissions, dental insurance stands as a viable alternative for agents to recoup lost income. Jamieson points out that level commissions from dental plans can offer financial stability for agents facing turbulent changes in the industry. Testimonial of Quality Care Jamieson's background adds credibility to his recommendations. With over 17 years in Medicare and three years focused on dental insurance, his experiences provide a robust framework for agents. His engaging discussion about network discounts underline the importance of personalized client education and well-researched plan selection. Call to Action Agents are encouraged to proactively ask clients about dental insurance. Jamieson suggests creative methods like using large tooth models to initiate conversations and attract attention at events. The simplicity of enrolling a client in an NCD dental plan, which takes only about 90 seconds, underscores its efficiency. Final Thoughts As the episode wraps up, the hosts reaffirm their commitment to utilizing Jamieson's insights. By attending webinars and leveraging the comprehensive resources available, agents can significantly enhance their service offerings and ensure their clients receive holistic care. The conversation reveals a compelling case for the strategic use of dental insurance within the realm of Medicare services, underscoring its critical role in client health and agent success.

In this episode of "Insurance Business Babes," hosts Joanna Wyckoff and Kathe Kline stress the importance of organization and preparation, especially before the Annual Election Period (AEP). They discuss various strategies for maintaining focus and efficiency, such as scheduling health appointments in advance, keeping detailed to-do lists, and using technology to manage tasks. Joanna shares her experience of feeling overwhelmed by clutter and how moving to an organized space brought her peace, while Kathe emphasizes the benefits of a highly organized back office and ergonomic investments like standing desks. They explore tools like Sunfire, Google Sheets, screen recording software, and grocery delivery services to streamline their workflow. The hosts also highlight the significance of balancing work with family time and maintaining good health to optimize productivity and avoid burnout. This episode is sponsored by CertifiedMedicareAgents.com

In the latest episode of Insurance Business Babes, Steve Pomerantz joins Joanna Wyckoff to dive deep into strategies for mastering events and achieving local market dominance, essential for insurance agents especially during the Annual Enrollment Period (AEP). Joanna Wyckoff highlights the value of establishing robust relationships with broker managers. These connections not only facilitate access to marketing funds but also ensure that agents can leverage those finances effectively as broker managers' salaries are tied to their territory sales. By focusing on personal branding over carrier branding at events, Joanna has successfully drawn attention with unique marketing items like “big teeth.” Steve's super power is meticulous planning of a whopping 46 events. He emphasizes using simple, cost-effective refreshments like pizza and cookies to keep attendees engaged without overwhelming them. Importantly, partnering with local dentist and doctor offices for additional referrals has been a game-changer, demonstrating the power of community collaboration. Both agree that a diversified marketing approach is key. Steve incorporates tools such as branded lotion and pens over traditional carrier-branded materials to leave a lasting impression. He also employs various channels, including Facebook ads, direct mail, and community ads, to reach a wider audience. Steve Pomerantz underscores the importance of starting client outreach early. Given the logistical challenges during busy periods, tools like Zoom and Calendly for scheduling, as well as integrated Scope of Appointment (SOA) forms, streamline the process, saving time and enhancing client interaction. Joanna also implements persistent communication through postcards, emails, and calls, ensuring important messages are delivered effectively. The shift towards virtual meetings has proven to be a significant time-saver. Joanna reiterated that holding Zoom sessions and using VoIP for events not only improves efficiency but also increases flexibility for both agents and clients. Early planning and staying organized, including preparation of materials and consistent follow-ups, are vital components to escrowing a successful AEP. Mastering local events and proactive community engagement, as discussed by Steve Pomerantz and Joanna Wyckoff, seems to be an art form in the insurance business. By integrating personalized marketing tools, maintaining persistent communication, and leveraging virtual platforms, agents can not only retain their existing clients but also attract new ones, securing their dominance in the local market. This episode is sponsored by CertifiedMedicareAgents.com

Understanding Medicare Part D and the Inflation Reduction Act Kathe Kline is joined by Andrew Saul, Sales Director at Physicians Mutual, to delve into the complexities surrounding Medicare Part D and the changes ushered in by the Inflation Reduction Act. Key points of discussion included the new $2,000 out-of-pocket cap and its impact on seniors, along with price negotiation for prescription drugs. One of the major hurdles discussed was the inability of Medicare to negotiate drug prices, which has historically driven up costs for seniors. Andrew Saul illustrated this disparity with the example of Eliquis, a popular blood thinner. Non-Medicare recipients might pay $10 a month, while those on Medicare face costs upwards of $500 monthly without manufacturer coupons. Kathe shared her firsthand experience with prescription costs during her recent COVID-19 quarantine. The difficulty in navigating prescriptions, particularly the high cost and obstacles to obtaining Paxlovid, highlighted a larger issue within the system. She emphasized the restrictions Medicare beneficiaries face with manufacturer coupons, which can drastically reduce prescription costs for others. Andrew and Kathe explored the balancing act between allowing pharmaceutical companies to profit while ensuring fair drug pricing. Even with laws like the Insulin Savers Act capping prices, the lack of generic options keeps costs high. Andrew noted that new regulations will enable Medicare to negotiate prices for 10 high-cost drugs starting in 2026, but the scale of change is limited. The Inflation Reduction Act, passed in August 2022, is poised to bring changes such as Medicare's newfound ability to negotiate drug prices. Despite this advancement, critics argue for a more comprehensive and expedited implementation. Kathe contrasted the U.S. healthcare system with Europe's, noting Europe's more effective cost management due to direct government negotiations with drug manufacturers. Andrew offered insights into upcoming changes and the importance of well-informed agents in guiding clients through Medicare's intricacies. He emphasized that periodic drug plan reviews are crucial for cost savings. As we await further changes prompted by the Inflation Reduction Act, staying informed and proactive remains essential for Medicare beneficiaries and advisors alike. This episode is sponsored by CertifiedMedicareAgents.com

Navigating Medicare Plan Changes: Key Strategies for Insurance Agents In our latest episode of "Insurance Business Babes," hosts Kathe Kline and Joanna Wyckoff dive deeply into the essentials of managing Medicare plan changes and the importance of timely communication with clients. Here are the most critical takeaways and strategies discussed to ensure a smooth transition during plan updates. Joanna Wyckoff emphasizes the importance of contacting clients as early as possible to lock in new Medicare plans, minimizing coverage gaps and anxiety. Starting communications with clients whose plans are leaving their county first ensures that they are not left without coverage come the end of the year. From October 1st, Joanna's practice involves initial consultations, aiming to finalize new plans before October 15th. Both hosts agree that automation can streamline the process significantly. Joanna shares her preference for handling reviews and setting up plans via automated systems, utilizing text or email links for client application signatures. This not only saves time but also mitigates the back-and-forth often required in manual processing, providing peace of mind to clients early in the timeline. Kathe highlights a specific concern for clients in South Carolina who are losing their Medicare Advantage benefits. The duo discusses the workload and complexities involved in managing these changes to ensure continuous coverage for clients. By referencing the “Medicare and You 2025” booklet and identifying plans leaving the market, agents can anticipate which clients need immediate contact. Potential underwriting challenges for Medicare supplements are addressed by evaluating clients' health conditions. Joanna and Kathe underscore the delicate process of finding suitable plans amid evolving health conditions and Medicare regulations. A significant portion of the episode focuses on maintaining professionalism in client communications. Joanna advises never putting anything in writing that shouldn't be shared publicly, noting her own experiences with negative reactions from agents. Kathe discusses managing a large Facebook group, adhering to strict no-politics rules to avoid conflicts. Technological advances in plan application, as shared by Kathe with her experience on Medico, illustrate a trend towards fewer requirements for medical questions, which can simplify the sign-up process. However, they discuss the implications on carrier rates and client coverage, balancing ease with comprehensive care. The increased trend of clients shopping around for Medicare plans makes client retention more crucial than ever. Both hosts stress the importance of maintaining existing relationships, with Joanna delineating a retrospective strategy to keep clients informed, happy, and loyal. By prioritizing early and effective communication, leveraging technology, and maintaining professionalism, insurance agents can navigate the complexities of Medicare plan changes and ensure their clients remain fully covered and satisfied. This episode is sponsored by CertifiedMedicareAgents.com

Last-Minute AEP Preparation: Key Strategies from Industry Experts As we approach the Annual Enrollment Period (AEP), ensuring that your preparations are comprehensive and efficient is critical for a successful season. In this episode of Insurance Business Babes, hosts Kathe Kline and Joanna Wyckoff shared valuable insights and strategies for last-minute AEP prep. Here's a summary of their advice to help you navigate through this busy time. The hosts emphasized the importance of staying updated on market changes and new regulations, particularly in light of the Inflation Reduction Act and its effects on the insurance landscape. With some plans leaving the market and others adjusting their offerings, being proactive is key. The hosts discuss reaching out to carriers for first looks at plan changes and understanding which plans are exiting your area. This knowledge allows you to prioritize the clients impacted by these changes. Communicating early and effectively with clients who are likely to be affected by significant plan alterations is vital. Joanna recommends sending out surveys and emails to collect updated information on clients' medications and physicians. Automating this process, when possible, saves time and ensures you are prepared to offer the best advice come October 1st. Using Customer Relationship Management (CRM) systems like Sunfire can streamline your workflow. Kathe highlighted the efficiency gained by having up-to-date client information preloaded into the CRM. This allows for quick comparisons of current plans with alternatives, enabling faster decision-making and client follow-up. Retaining existing clients should be a priority during AEP. Focusing on retention rather than external marketing, as maintaining current clients can often lead to new referrals. Automated emails and calendar scheduling tools like Calendly can facilitate easy appointment setting, ensuring each client feels valued and cared for. Kathe and Joanna stressed the importance of staying organized. Complete certifications, address any personal or logistical tasks, and ensure your schedule is clear before AEP begins. This preparation will free up more time to focus on client needs and mitigate stress. As AEP approaches, take these expert tips seriously. Understand market shifts, communicate proactively with clients, employ efficient systems, and prioritize retention. With the right preparation and organization, you can navigate AEP effectively, providing exceptional service to your clients and ensuring a productive season. This episode is sponsored by ⁠CertifiedMedicareAgents.com⁠ and ⁠TopFlightAgent.com⁠

Navigating the Shifting Landscape of Medicare Plans: Insights from Insurance Business Babes In a recent episode of the ever-insightful "Insurance Business Babes" podcast, hosts Kathe Kline and Joanna Wyckoff delve into pressing issues facing insurance brokers and their clients in the Medicare universe. From the discontinuation of broker commissions to the underappreciated importance of ancillary insurance plans, the conversation offers valuable guidance for both professionals and clients. Kathe Kline opens the episode expressing her deep frustration with a significant insurance carrier halting broker payments for prescription drug plans (PDPs). This development threatens to cut her annual earnings by over $15,000, echoing past instances of carriers discontinuing payments—a troubling trend for many in the industry. Both Kathe and Joanna note that brokers face an ethical dilemma: how to justify continued support for a plan to clients when they're no longer compensated for their work. Joanna brings attention to a common misconception among clients: that those with Medicare Supplement plans don't need additional cancer coverage. The hosts illuminate the critical role of ancillary insurance in covering non-medical costs associated with serious health events. Joanna shares a poignant story about a young mother suffering a heart attack, underscoring the unexpected financial strain such situations can impose. This narrative punctuates the episode's emphasis on offering comprehensive insurance solutions to ensure clients are well-protected against all contingencies. The hosts introduce "Atomic Automations," a new venture led by Joanna Wyckoff and her partner, Zach, aimed at aiding insurance agents with automation systems like GoHighLevel. Their service promises to streamline client communication and enhance operational efficiency, providing agents with tools to maintain and grow their client base. By integrating advanced automation, agents can ensure continuous client engagement through regular updates, video content, and personalized follow-ups. As changes loom on the horizon of the Medicare landscape, Kathe and Joanna stress the importance of proactivity. Agents are urged to continually educate clients about the importance of using available benefits before potentially disruptive market shifts occur. The episode concludes with reminders about the value of cross-selling supplementary coverage, keeping clients informed through various communication channels, and consistently delivering exceptional service. Through this compelling discussion, the "Insurance Business Babes" provide crucial insights for navigating the evolving field of Medicare insurance, highlighting the need for adaptability, comprehensive coverage, and robust client relationships. For detailed strategies and further advice, tuning into their podcast will surely be an enlightening experience for any insurance professional. The Challenge of Disappearing Broker CommissionsThe Essential Role of Cancer and Ancillary InsuranceAutomation as a Game-ChangerPreparing for Market Changes and Enhancing Client Relations To sign a petition (sponsored by HAFA) regarding this compensation change, go to https://www.change.org/p/stop-wellcare-s-unfair-practice-demand-payment-of-earned-commissions-to-medicare-part-d This podcast is sponsored by CertifiedMedicareAgents.com

In this episode of "Insurance Business Babes," host Kathe Kline is joined by guest Christian Brindle to discuss the intricacies of preparing for the transition or sale of a Medicare business. They differentiate between selling the entire business, which includes systems and leadership and tends to be more lucrative, and selling just the client book or policies, which is generally less profitable. They delve into key concepts such as EBITDA, earnouts, and the importance of knowing your business metrics. They also emphasize the necessity of proper succession planning to avoid losing the business's value in cases like unexpected death. Kathe and Christian advocate for the book "Profit First" to better manage business finances and briefly touch on retirement and its challenges, with Kathe sharing her own hesitations and experiences. They wrap up by inviting listeners to stay connected and promising more insightful content in future episodes. Show notes: # Understanding the Transition of Your Medicare Business Transitioning your Medicare business can be a pivotal moment, whether it involves selling, retirement, or succession planning. This episode, featuring the insightful Christian Brindle, dives deep into the intricacies of preparing for these transitions. ## Two Types of Business Sales When considering selling your Medicare business, Christian Brindle outlines two main pathways: selling the entire business or just the client book. 1. **Selling the Entire Business**: This is where larger companies, such as Integrity Marketing and AmeriLife, come into play. They purchase not only your clients and revenue but also your established systems and leadership, allowing the business to run independently. This often requires the seller to stay onboard for several years to guide the transition, leading to significantly higher payout multiples based on your EBITDA. 2. **Selling the Client Book**: This option is typically for smaller businesses where only the clients and policies are sold, often resulting in a lower payout compared to a full business sale. With this type, the acquirer handles the operation and growth moving forward, which is less valuable and hence less lucrative. ## The Importance of Knowing Your Numbers One critical piece of advice from Brindle: know your numbers. Metrics such as monthly revenue, carrier earnings, and especially EBITDA are crucial when preparing for a sale. This financial transparency and understanding allow for more informed negotiations and more accurate business valuations. ## Succession Planning: Essential but Overlooked Succession planning is vital yet frequently neglected in the insurance industry. Proper planning ensures that your business legacy is preserved and smoothly transitioned in case of unexpected events. Setting up your business structure correctly, such as through a corporation, and having a will in place are fundamental steps for safeguarding your assets and ensuring continuity. ## The Psychological Aspect of Retirement Beyond the transactional aspects, retirement poses personal and psychological challenges. Reflecting on her journey, Kathe highlights the difficulty of letting go and the perennial concern about future economic stability. Her transition story underlines the need for careful, deliberate planning to align financial goals with personal fulfillment. ## Further Learning This dynamic discussion is just a snippet of the valuable insights shared in the Insurance Business Babes podcast. For those contemplating similar transitions or seeking more in-depth advice, books like **"Profit First"** offer valuable guidance on managing and understanding your business finances. Tune in and empower yourself with knowledge to successfully navigate the complexities of business transitions, ensuring a prosperous and well-planned future for your Medicare practice.

Kathe and Joanna are preparing for AEP, so we're bringing you Stage 7 of a Medicare Agents business, originally aired on Christian Brindle's YouTube Channel.Kathe Kline and Christian Brindle delve into the intricate balance between managing a growing business and maintaining a manageable workload. They explore the challenges and potential benefits of hiring and managing a sales team, and the impact of technological advancements in the Medicare industry.### Reluctance to Manage DownlinesKathe Kline expresses her reluctance to sell or be responsible for a downline's marketing expenses, fearing it might adversely impact her earnings. Christian Brindle suggests an alternative approach: convincing an assistant to take on more responsibilities. Kathe plans to have her assistant manage more business under her own license, reasoning that her well-developed systems will support this transition. This conversation highlights the delicate balance of growth and personal workload management.### Potential for Exponential GrowthChristian emphasizes the potential for business growth through additional client handling capacity. He cites the compounding effect of satisfied clients referring others—a scenario more likely to occur when client handling capacity is maximized. Kathe acknowledges these benefits, noting her limited involvement in PDP appointments due to effective self-enrollment systems. Their discussion touches on the substantial growth achievable by reaching a client base of 300-400.### Embracing Technological AdvancementsBoth speakers express their gratitude for technological advancements that have simplified processes, transitioning from paper applications to electronic applications. These improvements have made it easier to conduct business and reach out to clients, thereby enabling more efficient operations and improved client satisfaction.### Challenges of Business GrowthChristian shares the struggle of balancing growth and maintenance, recounting his father's experience of recruiting agents but only doing the bare minimum at work. Kathe discusses her growing business and the stress of managing clients during the Annual Enrollment Period (AEP). Christian suggests promoting an assistant to a Licensed Office Assistant (LOA) and hiring a new assistant, based on his experience with internal promotions.### Managing a Sales TeamKathe is hesitant to manage a sales team, preferring to keep her workload manageable. Christian emphasizes the value of a sales team in scaling the business, highlighting that focusing on tasks only Kathe can do, like marketing and innovation, is key. He cites Ryan Kimball, CEO of Asia Pipeline and director of health for Integrity Marketing Group, to underline the potential for growth when a business is scaled properly.### Personal Goals and Business ScalingThe discussion ends on a reflective note, with Christian advocating for building sales teams as a strategy for scaling businesses. However, he acknowledges that every business owner's goals and circumstances are unique. Kathe's reluctance to deal with the complexities of downlines and employees underscores the importance of personal aspirations in business decisions.This comprehensive discussion offers invaluable insights for anyone navigating the challenges of growing a Medicare-related business, emphasizing the importance of balancing growth, technology, and personal goals.

Joanna and Kathe are still on vacation, so our latest episode of "Insurance Business Babes," is a replay of Christian Brindle and Kathe Kline where they discussed the sixth stage of a Medicare Agent's Business: The building Tweaking, and Maintaining Stage.**Building Robust Systems for Success**A major topic we delved into was the critical importance of building efficient systems, particularly through Customer Relationship Management (CRM) tools. A CRM is indispensable for tracking client interactions, ensuring compliance, and maintaining strong relationships. We emphasized that agents must control their data, rather than relying solely on carrier sites or upline-provided CRMs. I recounted a personal experience where thorough CRM notes were vital in resolving a client complaint, underscoring the importance of detailed record-keeping.**The Value of Virtual Assistants**Christian highlighted the significant return on investment (ROI) from hiring virtual assistants (VAs) to handle non-client-facing tasks, a sentiment I wholeheartedly agreed with. My journey with VAs began after reading "The 4-Hour Work Week," which convinced me of their value. Today, my VA handles various administrative tasks, allowing me to focus on client interactions and strategic aspects of the business. Both Christian and I noted the efficiency gains from delegating tasks, leading to improved business operations.**Automating for Efficiency**In our discussion, we touched on the role of automation in streamlining workflows. I mentioned using TypeDesk for automating responses to common queries, reducing the need for repetitive typing. Christian shared his use of pre-recorded videos to explain processes, which they then transcribe for clients who prefer reading. Such systems save time and ensure consistent communication with clients.**Personalized Client Interactions**Maintaining personal connections with clients is essential for lasting relationships and referrals. I leverage tools like Book Like A Boss and Calendly for appointment scheduling, and I send hand-signed birthday, Valentine's, and Thanksgiving cards to keep in touch with clients. These personalized gestures have proven invaluable for client retention and generating referrals.**Conclusion**In this episode, Christian and Kathe explored the multifaceted strategies that contribute to a successful insurance agency. From leveraging CRMs and VAs to automating responses and personalizing client interactions, each element is crucial in building a robust, efficient, and client-centric practice. Listen in for deeper insights and practical advice on navigating the insurance industry.

Kathe and Joanna are on vacation, so in this episode, we're bringing you a special interview when Christian Brindle interviewed Kathe for his YouTube Channel. The conversation, which has been edited for the podcast, delves into low-budget strategies for hosting educational events and seminars, the importance of building relationships with carrier representatives, and the various methods for gaining business in the Medicare industry. From lead generation to networking, Christian Brindle shares his insights and tips for success as a Medicare agent. Join us as we explore the essential steps to becoming a successful Medicare agent and building a thriving Medicare agency.

Christian Brindle interviewed Kathe for his You Tube Channel, so we are sharing some of those interviews with you here. This is Part 1 of the stages of Medicare Business. Stages 1-3 including prelicensing, AHIP certification, and the stages of becoming a successful Medicare agent. They share valuable tips, including the importance of networking, building referral partners, and the significance of standing out in the industry. From the complexities of contracting in the insurance industry to the strategic approach of generating leads and building long-term connections, this episode covers it all. So get ready to dive into the world of insurance business as Kathe and Christian share their expertise and experience to help you navigate the early stages of your insurance career.

In this episode of "Insurance Business Babes," hosts Scott Sims, Joanna Wyckoff, and Kathe Kline delve into the dynamics of leveraging social media and traditional marketing for business growth in the insurance industry. Scott shares his journey of transitioning from viewing TikTok as a fun experiment to using it as a powerful marketing tool, acquiring over 100 clients and amassing significant followers. The conversation explores diverse marketing strategies, including partnerships with the University of Oregon athletic department and local TV commercials. Kathe questions the ROI and effort involved in social media, comparing it to podcasting, and emphasizes the value of paid leads and investing in business growth. The trio also discusses personal business goals, the importance of finding joy and fulfillment, and developing unique paths to success in the insurance market. The episode concludes with reflections on the significance of building a business around one's lifestyle and the benefits of experimenting with different marketing approaches.

In this episode of "Insurance Business Babes," hosts Kathe Kline and Joanna Wyckoff discuss Joanna's decision to hire a personal assistant to help balance her demanding work and personal life. Joanna highlights the challenges of managing her business alongside personal responsibilities, especially due to her disability. She shares her past experiences with unreliable help and stresses the importance of finding someone trustworthy and capable. The personal assistant will handle tasks such as organizing, cooking, and administrative work, giving Joanna the opportunity to focus on higher-value tasks and improve her mental health. Both hosts emphasize the significance of delegating tasks to alleviate stress and enhance business efficiency, while Kathe also notes her commitment to nurturing existing client relationships over seeking new ones. The episode ends on a hopeful note about the potential positive impact of this hiring decision on Joanna's life and business.

In this episode of "Insurance Business Babes," hosts Kathe Kline and Joanna Wyckoff delve into the creation and utilization of video content for insurance professionals, particularly focusing on Medicare education. Kathe shares her journey with using video creation tools like Loom and her strategy of white-labeling a perfected educational video for CertifiedMedicareAgents.com Gold members, while debating the inclusion of California-specific content. The duo underscores the efficiency and client engagement benefits of using pre-recorded, unbranded videos, supporting the practice with personal anecdotes and practical tips like employing teleprompters and editing software. They also highlight the importance of relatability and authenticity in videos, suggesting that agents create personalized content to distinguish themselves and foster connections with clients, all while adhering to the mantra "done is better than perfect." The episode wraps up with a call to action, urging listeners to embrace video-making to save time and enhance client interactions.

In this episode of "Insurance Business Babes," hosts Joanna Wyckoff, and Kathe Kline talk with Keith Nabb, delving into the critical aspects of succession planning for insurance professionals. They emphasize the importance of treating an insurance business like a business by investing in tools like CRM and assistants, the significance of maintaining separate bank accounts for commissions, and the necessity of an estate plan and trust to save on probate costs. The discussion covers securing sensitive information through tools like LastPass and setting up essential legal documents through reasonably priced templates offered on their website. Using real-life examples, they underscore the importance of proper business valuation, client retention, and having a succession squad to ensure a smooth transition in case of unforeseen circumstances. The discussion also touches on the personal side of succession planning, including the care of pets and managing an agency structure for continuity and legal protection.

In this episode, Kathe Kline and Joanna Wyckoff discuss various aspects of running a successful insurance business, drawing from personal experiences and industry knowledge. They highlight the importance of having professional representation and the pitfalls of conflicting interests, using LegalShield as an example. They emphasize treating the business professionally, from having separate phone numbers and emails to maintaining updated professional photos and name badges. The hosts stress the importance of time management, goal setting, and adapting to industry changes, while also ensuring work-life balance through time blocking and setting boundaries. They address financial planning, professionalism, and the necessity of errors and omissions (E&O) insurance, and conclude with the importance of professionalism in managing leads and client relationships.

In this episode of "Insurance Business Babes," hosts Kathe Kline and Joanna Wyckoff delve into the crucial aspects of managing Medicare certifications and plan comparisons. They discuss the utility of creating spreadsheets for comparing benefits between different counties and plans, leveraging a virtual assistant for data entry, and the importance of completing AHIP and UnitedHealthcare Fast Track recertifications early to avoid disruptions. Emphasizing meticulous organization, they recommend updating these spreadsheets, utilizing a HIPAA compliant CRM, attending carrier meetings, and building cheat sheets. With personal anecdotes highlighting the perils of being uninformed, the hosts underscore the vital role of broker managers and advise recording meetings to protect against misunderstandings. They advocate for proactive client communication, maintaining an efficient client pipeline, and utilizing tech tools like Plod for transcribing meetings, all aimed at ensuring thorough preparedness and effective client management.

In this episode of "Insurance Business Babes," hosts Kathe Kline and Joanna Wyckoff talk about a bunch of different things, but delve into the importance of using CRM systems and technology to streamline client interactions and protect against disputes. They discuss various tools like Applaud AI for recording face-to-face meetings, Dialpad for phone calls, and RingCentral for sales calls, stressing the necessity of keeping detailed records and obtaining consent. The hosts share their experiences in dealing with client billing issues, managing educational events, and leveraging technology like AI and CRM systems to enhance their business operations. Amid personal and professional anecdotes, they also touch on the challenges and benefits of working with IMOs and FMOs, the significance of educational content, and the value of excellent customer service. The episode concludes with reflections on their success, continuous learning, and the importance of thoughtful planning for business events.

In this episode of "Insurance Business Babes," hosts Kathe Kline and Joanna Wyckoff, alongside guest Angela Palo, delve into the multifaceted challenges faced by insurance agents amid evolving CMS regulations and Medicare policies. They discuss the skewed perceptions government employees have about agents due to primarily hearing complaints, emphasizing the need for CMS employees to better understand the agents' work. The conversation highlights concerns over potential changes to essential tools like Connecture and Sunfire, and the financial burden these might place on agents. They also address issues with client communication during plan changes, the affordability and necessity of CRM systems, and the impact of new rules on carriers, agents, and vulnerable populations. Angela elucidates on the importance of SOC 2 compliance and the risks of inadequate security, while the trio collectively expresses frustrations about the undervalued role of agents and uncertainties surrounding policy changes and their broader implications.

In the latest episode of "Insurance Business Babes," host Joanna Wyckoff and guest Ronnell Nolan, president and founder of Health Agents of America, discuss the alarming rise of fraud and misleading advertisements in the Medicare and ACA sectors. They delve into the recent shutdown of deceptive Medicare ads and the persistence of misleading Facebook ads. The conversation covers the challenges of holding parties accountable, the need for stricter regulations, and the methods to ensure authentic enrollment consent. Ronnell advocates for procedures akin to Medicare for ACA ads to combat fraud and highlights the importance of diligent documentation and consumer protection. They also spotlight HAFA's initiatives, including creating a fraud reporting tool, supporting agents, and advocating for fair compensation, while emphasizing the critical role of regulatory bodies like CMS in addressing and mitigating fraudulent practices.

In this episode of "Insurance Business Babes," guest Cynthia McCluskey joins Kathe Kline to delve into the unique challenges faced by adults with developmental disabilities, specifically focusing on the complexities surrounding Medicaid and Medicare systems. They discuss the often-overlooked Disabled Adult Child (DAC) program, highlight the importance of community engagement and education to improve awareness of available benefits, and tackle the difficulties in finding suitable housing and accessing necessary medical care. The episode is enriched with expert insights from Cynthia McCluskey, who adds perspective to the conversation through her advocacy experience. She emphasizes the significance of properly navigating the healthcare system, advocating for appropriate housing and oversight, and tailoring insurance plans to meet the specific healthcare needs of the developmentally disabled adult population.

The podcast hosts, Kathe and Joanna, discuss the challenges that prevent insurance agents from being successful. They start by describing a meme that one of Joanna's agents posted, which shows two lines of people - one line labeled "Hungry to win" that is much longer than the other line labeled "Hungry to do what winning requires." This illustrates how many agents are eager to succeed but not willing to put in the necessary work. Joanna shares that when she first entered the insurance industry, she had no sales experience coming from a government job, and found it very difficult to get comfortable with the sales aspect. She contrasts selling life insurance, where people often don't want the product, to selling Medicare, where people do need the coverage but can be indecisive about it. Kathe emphasizes that while outbound cold calling can be challenging, it's much easier when clients are reaching out to you proactively. She discusses how she has built up her local website and online presence to attract clients, rather than relying solely on outbound prospecting. A key point they make is the importance of overcoming one's own insecurities and fears about putting oneself out there through content creation. Joanna regrets not starting to create YouTube videos and other content earlier in her career due to self-consciousness about her appearance and perceived shortcomings. Kathe shares how she overcame this by just jumping in and creating "pajama videos" when she couldn't sleep, which ended up being well-received. The hosts encourage the listener to create their own content, whether it's videos, podcasts, or written articles, to attract their ideal clients. They stress the importance of batching content creation and using it to build a lead funnel, such as by offering a free guide in exchange for an email address. Kathe describes the automated email sequence she has set up to nurture those leads over time. Additionally, Joanna suggests finding experienced agents to shadow or partner with, either through an upline relationship or by reaching out to a "running buddy" in a non-competing market. She also recommends building relationships with other professionals who serve the same target demographic, such as financial advisors, accountants, and real estate agents. The overall message is that while it may be uncomfortable at first, agents need to overcome their fears and insecurities, put themselves out there, and focus on consistently creating valuable content and building strategic partnerships in order to build a successful insurance business.

Kathe Kline and Joanna Wyckoff discuss the importance of carefully choosing which trainings to attend as insurance professionals. They emphasize the need to prioritize trainings that are relevant to an agent's current business needs and future goals, and stress the importance of balancing attendance with actual business productivity. They also share insights on the challenges of planning and attending conferences, and touch on the potential for hosting a cruise conference as a fun and educational event for their listeners. Throughout the conversation, they highlight the value of meaningful networking opportunities and practical takeaways from industry events.

In this insightful episode of Insurance Business Babes, hosts Kathe Kline and Joanna Wyckoff dive deep into the crucial aspect of protecting and managing your business in the insurance industry. They share personal strategies on segregating emails for clients and carriers, handling overwhelming amounts of insurance-related spam, and employing technology such as CRMs while ensuring HIPAA compliance through Business Associate Agreements. Kathe reflects on her investigation of CRM options in light of rising costs and HIPAA considerations, expressing the importance of data ownership and the ability to export data securely. Joanna relays her experiences with VA training, stressing the significance of a business owner mentality over an employee mindset and the foresight needed for business growth, even sharing anecdotes from her recent house purchase. Lastly, the hosts commiserate over unwanted solicitations in the form of calls and texts, discussing tactics for maintaining clear and effective communication channels in their business operations.

In this episode of "Insurance Business Babes," hosts Kathe Kline and Joanna Wyckoff delve into the complexities of Medicaid waivers, vital programs that provide medical and financial assistance to individuals who don't meet traditional Medicaid requirements due to their income but who face severe medical challenges such as disabilities and chronic conditions. They illuminate community-based care options, highlight the significant cost of prescription medications, and discuss various patient assistance programs, including a database developed by pharmacist Norma Johnson. The hosts also touch upon strategies for veterans dealing with trauma and the importance of utilizing resources like benefitscheckup.org to aid aging clients. The focus of the episode is on the tangible ways insurance professionals can support their clients, from navigating the Katie Beckett waiver for disabled children to understanding the nuances of programs like PACE and VA aid and attendance benefits, to other programs most agents never think of.

We fixed the audio issue! In this episode of "Insurance Business Babes," hosts Kathe Kline and Joanna Wyckoff discuss a controversial subject among insurance agents. They talk about the reasons why hospital and healthcare workers dislike Medicare Advantage Plans, delving into specific issues such as prior authorizations, network restrictions, and reimbursement rates that contribute to the discontent. The conversation also highlights real-life examples and emphasizes the need for insurance agents to be well-informed so they can provide valuable guidance to their clients AND the healthcare workers who can refer.

In this episode of "Insurance Business Babes" Kathe Kline and Joanna Wyckoff dive into the world of tech tools that can revolutionize insurance businesses. They explore the DFY platform's automated features, emphasize the importance of owning customer data outside of Facebook, and discuss various CRM options like Agency Block and Medicare Pro, including HIPAA compliance and cost considerations. Kathe and Joanna also share their experience with different VoIP systems, video recording tools, and programs like Canva and Stencil for creating professional content. They highlight the efficiency of TypeDesk in managing repetitive communications and the innovative Contact Wearable bracelet for networking. Furthermore, they talk about the nuances of e-mail marketing with SendFox and Constant Contact, and how tools like Zapier can automate client interactions. Throughout, they remind listeners of affiliate opportunities that support the podcast without extra cost, posting to show notes for further details on the programs covered.

In this informative episode of "Insurance Business Babes," hosts Kathe Kline and Joanna Wyckoff delve into the essential next steps for new insurance agents fresh from passing their exams. They provide practical advice on establishing a solid business foundation, including setting up an LLC, creating a professional online presence, and engaging in strategic networking with potential clients and referral partners. The episode emphasizes the importance of understanding contractual nuances with FMOs, exploring initial insurance offerings like dental and vision, and preparing for a successful venture into the industry. The hosts share personal anecdotes and expert insights into the significance of building strong relationships, the nuances of agent release policies, and efficient financial management to help new agents thrive in their burgeoning careers.

In this episode of Insurance Business Babes, hosts Kathe Kline and Joanna Wyckoff dive into the world of virtual co-working and the significance of accountability, especially for entrepreneurs. They share personal anecdotes about maintaining productivity through structured schedules and tidy workspaces while addressing the challenges of isolation when working from home. The discussion explores various platforms like Focusmate, Focus 101, and Cofocus, each offering different features such as the Pomodoro technique sessions, group rooms with ambient sounds, and focus sessions. Joanna details her preparation for an upcoming presentation and signs up with the Focus 101 program, including the importance of adhering to session rules for effectiveness. The episode balances the benefits of virtual co-working spaces with concerns about privacy, safety, and the social aspect of remote work, concluding with insights into optimizing such resources for business success and professional growth.

In this insightful episode of Insurance Business Babes, Kathe Kline and Joanna Wyckoff tackle the timely and critical issue of what agents can do if their Field Marketing Organization (FMO) is eliminated. They stress the importance of having a backup plan, which includes learning how to manage their own client data using affordable and HIPAA-compliant Customer Relationship Management (CRM) tools like Less Annoying CRM and HubSpot. The hosts discuss the potential challenges of transferring and owning data, the necessity of maintaining direct relationships with lead vendors, and the significant focus on compliance - particularly when using carrier logos and in the recording of calls. Joanna emphasizes the value of her trainings for her downlines and the need for agents to become less reliant on IMOs for technology. They express concerns over the government's stance on the role of agents in the Medicare market, suggesting that there is a possibility agents could be marginalized, and underline the importance of being versatile with technology and being able to use paper applications in challenging situations. Agents are encouraged to own their data and be prepared for changes in the industry, including a shift away from traditional IMO structures.