Where Access Meets Opportunity With Ted Stuckey Power Producers podcast

In this episode of the Power Producers Podcast, David Carothers sits down with Ted Stuckey, President of Local Edge Brokerage, to discuss the evolution of the insurance market, especially for independent agents. Ted shares insights on the challenges agencies face, especially as the market hardens, and how Local Edge offers a valuable solution for agents seeking market access and diversification. They dive into the importance of cultivating strong relationships with wholesalers and the advantages of rolling book business when direct carrier appointments are no longer feasible. Ted also highlights Local Edge's commitment to empowering local agents with the right tools, guidance, and market access to thrive in today’s competitive market, while addressing common struggles agents face, such as losing contracts, acquiring new appointments, and gaining access to hard-to-get markets. This conversation provides practical advice for agencies looking to expand their commercial lines and better manage their carrier relationships.

Key Highlights:

Adapting to a Changing Market

Ted shares how Local Edge is evolving from its Nationwide Brokerage Solutions roots to become a key partner for local agencies, providing access to sub-direct markets, commercial lines, and mid-market solutions.

Diversity of Carrier Access

The conversation covers how Local Edge offers over 400 carriers for agents, ranging from national and regional markets to niche, specialty lines. Ted emphasizes how they help agencies access hard-to-find carriers without the need for direct appointments.

The Value of a Wholesale Partner

Ted discusses how working with a wholesaler like Local Edge can help agencies consolidate their market access and better serve their clients without getting overwhelmed by the volume of appointments needed.

Strategic Use of Wholesale Relationships

Ted highlights the importance of agents using wholesalers strategically, especially for hard-to-place risks or accounts they’re not 100% sure about. He explains how wholesalers provide the flexibility to test markets without taking on too much risk.

Wind-Hail Deductible Buybacks

One of the most sought-after products currently is wind-hail deductible buybacks, which Ted describes as a game changer for agents looking to help their clients reduce exposure to storm damage while maintaining affordability.

Building for the Future

Ted talks about how agents can build their business for long-term success by leveraging relationships with wholesalers and carefully selecting the right admitted and non-admitted markets.

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