Episode Summary
On a recent episode of the Broker Link podcast, host Gillan interviewed Tom Mays and Travis Branch, two partners who grew their insurance agency Local Insurance Advisors to over 400 agents across 40 states.
Tom and Travis share the story behind their successful growth, including how they met, their decision to partner, and their approach that has fueled expansion. They also provide insights into their partnership with brokerage firm The Brokerage.
In the beginning, Tom and Travis met in 2005 through a mutual friend before both getting into insurance sales. Travis had later considered leaving the business, but Tom convinced him to instead join forces and start their own agency, Local Insurance Advisors.
The partners emphasize taking a personalized approach to growth - keeping agent teams small for better education, experiences, and support. As Travis notes, they focus on having happy, successful agents rather than just adding bodies.
Tom and Travis specialize in Medicare solutions including Medicare Advantage, prescription drug plans, and supplements. They credit their growth to over-resourcing their agents in their niche so they become true experts.
When it came time to choose a brokerage partner, The Brokerage stood out for its personalized "family feel" and breadth of expertise and resources. This provides huge value by allowing Tom and Travis to leverage The Brokerage's knowledge in complex areas outside of Medicare.
According to Tom and Travis, the top advantage of partnering with The Brokerage is support for their agents. Agents can call The Brokerage's team anytime with questions and get assistance. This lifts a lot of weight off the agency.
In summary, Tom and Travis attribute their growth to:
- Specializing and becoming experts in their niche
- Taking a personalized, quality-focused approach to agent recruitment
- Prioritizing agent education, training, and support
- Having strong brokerage partnerships to provide expertise and resources
Their insights showcase that with the right strategy and partnerships, growth is achievable. However, scaling successfully requires focusing on agent success more than rapid expansion.
Timestamps
(0:00:04) - Broker Link podcast is your trusted source for growing your insurance business
(0:00:30) - Tom Mays: You have approximately 400 agents across 40 states
(0:02:56) - Tom and I met in 2005 when we had a mutual friend
(0:04:47) - How did you find the brokerage and why did you partner with them
(0:08:25) - How do you get started with the insurance brokerage, Inc.
