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Throwback: Riding the Acquisition Trail with Greg Hogan
Manage episode 315241438 series 2922251
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In this throwback episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Greg Hogan, CIC, CRM, President of Curabba Agency in New York. Greg talks about how he got into the insurance industry, the nuts and bolts of purchasing an agency, and what has contributed to his agency’s success. Greg also shares how his agency has been managing during the COVID-19 situation.
Episode Highlights:
- David introduces Greg Hogan. (1:24)
- How easy was it for Greg to transition to working remotely? (2:39)
- David shares that technology works better when working remotely than working in the office. (3:17)
- Has Greg had any technology issues since working on remote? (3:25)
- Greg says EZLynx is a very meticulous website for quoting. (9:02)
- David uses Swift as his benchmark when he runs everything through the quote rush. (10:13)
- Greg uses PL Rater and all of their company uses it. (10:16)
- David asks, what's going to happen when the chargebacks start hitting? (16:37)
- Greg says that personal lines are the driver of the renewal stream income. (19:55)
- Greg says the revenue growth spike could also be a revenue dive when you lose one of the accounts. (21:54)
- Greg shares what it was like when he acquired an agency vs. acquiring a book of business (23:15)
- Greg talks about his agency career. (23:51)
- Why did Greg buy the whole agency instead of the assets or the book? (26:32)
- Greg mentions what his old mentor said to him. (27:09)
- Greg shares that he digitized the whole agency and retrain his employees in using the database. (32:09)
- How is Better Agency working for Greg’s agency? (38:14)
- David mentions that we live in an instant society where everybody wants everything instantly. (40:39)
Tweetable Quotes:
- “You have stuff and you just don't know all the features and uses of it.” - Greg Hogan
- “When you buy an agency, you're buying things that have been done wrong.” - Greg Hogan
- “If you buy garbage data, you're going to have garbage data until you clean it.” - Greg Hogan
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