In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Aurora Mullet, Owner of Intrinsic Insurance Services. Aurora talks about how she found her way in the insurance industry and how she built an independent insurance agency.
Episode Highlights:
David introduces Aurora Mullet. (1:35)
David mentions that he was intrigued by the agents in California who are dealing with issues that are similar to a hurricane. (1:52)
Aurora shares her background. (2:12)
What pushed Aurora in the sales direction? (2:56)
Aurora thought that a salesperson was similar to a car salesman. (3:13)
Did Aurora willingly go into being a cross seller? (6:50)
How did Aurora become an Independent Agency Owner? (7:52)
Aurora explains wildfire insurance. (11:55)
Aurora shares why she stopped writing business in Florida. (14:34)
David mentions that if it's not something that he’s comfortable with, he’s risk-averse enough that he would rather give it to an expert. (16:09)
Aurora shares that most people were pleased that they found an option that will allow them to keep their homes. (17:51)
David thinks that what Aurora said was a universal principle, regardless of what you write. (18:08)
Kyle shares that when you’re on the service side, you’ll be able to apply it to your producer role, where you’ll know a bit more about how the policy works and what it should be. (18:17)
What does the open network that Aurora built look like, and what made her do it? (20:32)
What would Aurora say the amount of premium looks like that changes hands back and forth, from the referral network? (23:24)
David explains the two classes of people, a problem solver, and a product salesman. (26:09)
Aurora shares why she was known as “The Hagerty Girl”. (27:25)
Aurora mentions that Nick Ayers taught her how to figure out her target markets, how to locate them, and hyper locate them when she’s at shows. (28:52)
Aurora shares that it gave them the ability to drive the business and everything that came from it, grew outside of their niche. (29:02)
What does Hagerty Insurance do? (30:00)
What are Aurora’s other niches, outside the Hagerty? (35:13)
How does Aurora manage her loss ratio, with all the classic and exotic cars? (36:25)
Aurora shares that they’re setting up, they brought Better Agency, and they’re bringing a VA for the same concept. (47:19)
Has Aurora found the path to be more resistant in this industry, as a female agency principal or a female producer? (51:07)
Aurora shares that some people need to realize that if they take help from a woman as a man, they’re not weak. It’s a process that they have to go through, internally. (52:26)
Tweetable Quotes:
“After seven years, I looked around and saw that my salary wasn't increasing, my responsibilities were increasing, my knowledge of how to run the agency was increasing. And I finally just decided that I didn't want to make that money for other people.” - Aurora Mullet
“Being in the niche portion of it, I feel part of my job to be able to serve customers is to know the marketplace, not just know my marketplace, but to know all options that are out there.” - Aurora Mullet
“I probably get about 15 instant messages a day from agents going, where do I place this, what do I do? So that's not just high fire, it's any property in California, farm, or whatever it is.” - Aurora Mullet
Resources Mentioned:
David Carothers LinkedIn
Kyle Houck LinkedIn
Florida Risk Partners
The Extra 2 Minutes
Aurora Mullet LinkedIn
Intrinsic Insurance Services
