Rob Jacomen

For most specialty MGAs, wholesalers, and program administrators, the retail broker channel is quietly costing seven figures a year. I find where and fix it.

[Rob Jacomen @robjacomen]

Most "Producers" in this industry struggle (to actually "produce" new business)...

When you solve this problem first, everything else downstream takes care of itself:
lead generation, building a prospect list, full sales pipeline, getting BOR's and growing your commercial book👇

[Rob Jacomen @robjacomen]

Great idea. Maybe I create an MGA ecosystem map, then assign each brand a cool IPA, lager, stout, blonde ale, etc. label. ;) I do agree, specialty wholesalers are in a stronger spot right now than most in the industry assumed. Most specialist retail brokers still want more market options to bring to clients.

[Rob Jacomen @robjacomen]

I equate what's happening in the specialty MGA market right now eerily similar to what happened to the craft micro-brewery industry over the last 10 years.

Big BOOM, most brew master/owners (underwriters) had a great specialized/niche product, but had no idea how to run a business nor did they learn how to master distribution (broker channel), marketing, content or sales.

Then, commoditization of the micro brew industry started to happen due to more competition and the fancy labels on their product weren't cutting it anymore.

Most went out of business instead of staying "local" versus trying to go big nationally, or they were bought out by one of the "big guy" breweries who had massive distribution already in place (and great marketing).

[Rob Jacomen @robjacomen]

The most expensive hire in your MGA is the audience you never built.

Every day you stay invisible, the broker calls someone else and the good risk goes somewhere else. AI made the product easy. Being known is the whole game now.

Build a media company that sells insurance.

[Rob Jacomen @robjacomen]

Every broker-led specialized MGA needs to work with elite specialist broker partners because their products are often so specialized that generalists structurally can't sell it well.

And, specialist brokers have more trust and respect with the insured because they're the recognized expert...

So when an MGA becomes the go-to market for a specialist, the win-rate compounds. And, they get immediate lift in quote-to-bind ratios → increase in revenue and enterprise value.

Working with elite specialist brokers is the greatest lever to pull for boosting enterprise value and your multiples (at exit).

[Rob Jacomen @robjacomen]

Our specialty MGA client data proves👇

At typical specialty insurance EBITDA multiples (8-14x), every $1 of recurring revenue lost to broker partner weakness suppress enterprise value by roughly $10.

Distribution weakness isn't a marketing constraint. It's a valuation problem.

[Rob Jacomen @robjacomen]

The MGA founder (typically an underwriter) who says "I have great relationships with all my brokers" is one departure away from losing $ 3-4M of their book.
Relationship-only distribution = key man risk.
Content + systematic broker enablement is the only durable defense.

[Rob Jacomen @robjacomen]

There’s so much AI “noise” out there. What the ‘silent’ 1% elite are doing while everyone else is still consuming and strategizing?

Executing.

[Rob Jacomen @robjacomen]

If you're a retail P&C or benefits broker, I'd spend 80% of my time learning and mastering the skill sets of how to sell, build relationships, forge strategic partnerships...and about 20% of my time on AI. The AI "you'll miss out" thumpers have you convinced to do the opposite.

[FC Tulsa @FCTulsa]

Take a look at tonight's 𝐒𝐓𝐀𝐑𝐓𝐈𝐍𝐆 𝐗𝐈 🌟

#TULvPHX

[Rob Jacomen @robjacomen]

MGA founders, leaders, & investors... insider intel: When you see Ads for "Industry Guides and Reports" that have other insurtech 'influencers' giving their perspectives and insights inside... there's a 99.9% chance those 'influencers' are PAID. Objective? You decide.

[Rob Jacomen @robjacomen]

A hard or soft market should never dictate your distribution strategy as an MGA. If you pay attention to the noise in the market… You lose total control over your business model… and the market controls you.

All of your competitors are dealing with the same market as you are.

[FC Tulsa @FCTulsa]

Between the sticks 🥅

Dane Jacomen is a Scissortail 🕊️

[Rob Jacomen @robjacomen]

@Zrayrayallday Ahh, now I get what you meant by “access”, you weren’t talking about access to UW talent…access to talk about submission/each risk. I agree 100%. Funny how UWs complain about brokers submissions and brokers complain about UWs not getting quotes fast enough. It’s all about comm

[Rob Jacomen @robjacomen]

Why do so many smart MGA founders still struggle to scale distribution?

[Rob Jacomen @robjacomen]

@Zrayrayallday Possible…but a majority of them are former UWs or also UW for their MGA. I’d argue most MGA founders don’t know how to scale either the generalist or specialist broker channel, nor how to sell, market or create content. Relationships aren’t enough anymore.

[Rob Jacomen @robjacomen]

@bluehose35 Interesting take for sure. I do feel like the more they removed the 'human' touch points, sacrificing quality (customer service) for speed (quoting), negated the net gain or perceived gain from that speed to quote to bind aspiration. Broker behavior is the real constraint, IMO.

[Rob Jacomen @robjacomen]

Carriers, wholesalers, and MGAs are patting themselves on the backs “going all-in” on AI & tech to make it easier for brokers to submit-quote-bind…

Shouldn’t that have been that way all along for the last century?

They’re focused on solving the wrong problem.