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Dec 24, 2019

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Drew Yancey is an Advisor for InCite Performance Group, a company that provides concierge consulting services tailored towards independent insurance agencies in the US, Canada, and across Latin America. He is also part of the team behind Ambassador Captive Solutions, a company that aims to help clients with risk management and alternative risk financing. Drew describes himself as someone who wants to continually learn and demonstrates that by having attended five colleges, including Oxford University and the University of Birmingham from 2003 to 2018. 

Drew joins us to discuss the importance of risk management and what it takes for independent agencies to grow beyond their scope. He shares what life was like growing up in a family that has owned a food service distribution company for multiple generations. He explains how he works with clients and the steps he takes when they ask for consultations. Drew also discusses captives and the different ways organizations can use them for their business.

“How you manage risk is often the difference between surviving and not.” - Drew Yancey

Today on Spot On Insurance:

  • Drew's journey and what it's like to have a multigenerational family business background.
  • Why he didn't choose to be in the food service distribution industry.
  • Why he loves to travel and what he's searching for.
  • Becoming part of the insurance industry and what made him stay. 
  • How independent agencies can grow beyond what they are capable of.
  • The strategies he uses to help independent agencies.
  • What captives are and the organizations that should use them.
  • What the brokerage community should focus on.
  • The drawbacks of ignoring risk management for your company.
  • Problem-solving in complex risk environments.
  • Recent innovations he's watching that will change the way the industry works.

Key Takeaways:

  • If someone's coming to you and starting the conversation about captives with tax incentives, run as far away from that person, as quickly as you can, because that is one of the worst ways to start the conversation.
  • Risk management is not optional.

Connect with Drew Yancey:

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

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