How to Sell More Cyber Insurance with Pat Costello

Spartan philosophy, built in the black-ops lab of
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Finding Peak podcast: https://linktr.ee/ryan_hanley





In this episode of The Ryan Hanley Show, Ryan Hanley interviews
Pat Costello, CPCU, Co-Founder, and Principal at Evolve MGA. Pat
joins the podcast for a wonderfully nerdy deep dive into cyber
insurance. Pat and Ryan also also discuss exactly how independent
insurance agents can (and should) sell more cyber insurance to
their clients. Don't miss this episode...





Episode Highlights:


Pat mentions what he’s learned from the pandemic.
(5:34)

Pat shares two reasons why having people in an office
environment is vital. (7:17)

Does Pat prefer working remotely or working in the office?
(10:29)

Pat shares his background and how Evolve MGA started.
(13:15)

Pat mentions some of the biggest issues he has seen from a
retail broker perspective. (16:21)

Why do agents still sell cyber insurance like it's a luxury
and not as a necessity? (18:40)

Pat gives a couple of facts about ransomware.
(26:13)

Pat shares why social engineering is the most common claim
they see behind ransomware. (30:23)

Pat explains why cyber insurance is significant.
(34:24)

Pat shares what they have recently introduced into their
form. (47:35)






Key Quotes:


“If you have a few sales folks...I love having them together
in the same room to kind of motivate each other and feel the
energy, feel the vibes.” - Pat Costello

“I think the insurance industry in the way it's set up with
renewals, breeds an attitude of complacency for it, along with
the fact that it's a pretty big age gap in the insurance
industry.” - Pat Costello

“As everything gets more connected to the internet and as
people start using technology more, there's more potential for
things to get hacked. If somebody is connected to the internet,
it has the potential to be hacked. And so, everything that we are
doing on a day to day basis is getting more and more technology
driven.” - Pat Costello






Resources Mentioned:


Pat Costello, CPCU LinkedIn

Evolve MGA

Reach out to Ryan Hanley






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