David McFarland on Why Speed, Simplicity & Service Win Small Business Insurance

Spartan philosophy, built in the black-ops lab of
business: https://www.findingpeak.com


Finding Peak podcast: https://linktr.ee/ryan_hanley





In this episode of The Ryan Hanley Show, Ryan Hanley is joined by
David McFarland, founder, and CEO of Coterie Insurance, for an
all-time conversation about insurance, insurtech and what it
takes to win the small business insurance market. 


David is one of the smartest guys in commercial insurance and
things he and his team are doing at Coterie are rapidly changing
the standard for ease of business. Don't miss this episode...





Episode Highlights:


David explains what an actuary is. (5:20)

What are some of the ways David worked within the business to
overcome what seems to be a fairly common problem with carriers?
(10:38)

David explains first-order positive, second-order negative in
Coterie. (15:15)

David discusses how Coterie manages things in general..
(16:09)

David mentions that the most valuable asset of any firm is
its people. (19:13)

David explains how Coterie gets people to believe in what
they do. (21:55)

David mentions that Coterie hires on four criteria:
integrity, intelligence, passion, and humility.
(27:37)

David explains what makes Coterie unique.
(32:17)

David says they aim to create a tech and insurance product
that will allow their distribution partners to run in ways they
couldn't before. (35:30)

David explains third-party data and how Coterie uses it.
(42:27)

David mentions that they aim to ensure the success of their
distribution partner. (49:10)

David says they're always seeking new data sources,
evaluating its influence on customers, and verifying its
accuracy. (51:58)

What does David see happening with small company insurance in
the coming years? (53:46)






Key Quotes:


“We create cross-divisional teams to accomplish certain
missions. So, if we have a particular objective or key result, we
will put together a group of people who are qualified to tackle
this thing. And that is their job and they have to work
together.” - David McFarland

“We hire on four things. Integrity, intelligence, passion,
and humility, and humility elevates all the other three. And the
one sentence way that we describe it is that we're smart,
passionate people who do the right thing, and we're not going to
brag about it.” - David McFarland

“What we want to deliver is a product, both a tech product
and insurance product that's going to enable our distribution
partners to run in ways that they just couldn't do before.” -
David McFarland






Resources Mentioned:


David McFarland LinkedIn

Coterie Insurance

Reach out to Ryan Hanley






--


Recommended Tools for Growth


OpusClip: #1 AI video clipping and editing tool:
https://link.ryanhanley.com/opus

Riverside: HD Podcast & Video Software | Free Recording
& Editing: https://link.ryanhanley.com/riverside

WhisperFlow: Never waste time typing on your keyboard again:
https://link.ryanhanley.com/whisperflow

CaptionsApp: One app for all your social media video
creation: https://link.ryanhanley.com/captionsapp

GoHighLevel: It's time to take your business workflow to the
Next Level: https://link.ryanhanley.com/gohighlevel

Perspective.co: The #1 funnel builder for lead generation:
https://link.ryanhanley.com/perspective



--


Episodes You Might Enjoy:


From $2 Million Loss to World-Class
Entrepreneur: https://lnk.to/delk

From One Man Shop to $200M in
Revenue: https://lnk.to/tommymello

Is Psilocybin the Gateway to
Self-Mastery? https://lnk.to/80upZ9






g.


This show is part of the Unplugged Studios Network — the
infrastructure layer for serious creators. Learn more at
https://unpluggedstudios.fm.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for
information about our collection and use of personal data for
advertising.