Episode 204: Endless Opportunities with LeO

Welcome to the Unstoppable Profit Podcast. This podcast will give independent insurance agents all of the tools to grow your business and live life on your terms. Wherever you are today, if you're starting with nothing or well on your way to the success you desire, with the right people, processes and promotions in place, you will be unstoppable. And now I'd like to introduce your host, Mike Stromsol.

Foreign.

Welcome to the next episode of the Unstoppable Profit podcast. And I am pumped, excited and honored to have our guest today on the podcast. We have an internationally acclaimed leader in our presence this morning and her teammate and US liaison, Scott Larry.

Pronounce your last name Larry Halperin Segal.

Thank you. I. I forgot to give that a run through before we got started. Yeah, yeah. Welcome to the podcast. Thank you. And Scott, we have Scott angel on the, on the part of the Meet Leo team as well.

Hi Mike. Thanks for having us on. Appreciate it.

You're welcome. And I've been looking forward to this podcast since I first learned about Meet Leo and I've spent time with Scott, invested time with Scott, learning more about what Meet Leo comes brings to the table. And omg, if you want to drop a term, what they are building, what they've built so far. And the great thing that makes me so excited about the future of Meet Leo is what they're going to do in the future for the Independent Insurance Agency channel and beyond. So I want to dive in, learn more about that and, and help more agents. So you two ready to go?

You got it.

Always. Ladies first, Larry. Share a little bit about who you are and what you've accomplished so far and why Leo.

Yeah, so. So I'm Leary. I'm the founder and CEO of leo. Happy to be here. I'm a serial entrepreneur. My previous startup is an online offline gifting platform. Prior to that, I had a venture in Israel that was chosen to be one of the leading website for consumers. And I've also established an organization called P51 that aims to promote diversity in workplace environments. I was invited to speak about it in the UN and also this year actually I spoke about our work in the Library of Congress in Washington for International Women's Day. So this is something that is super important for me. And in the last five years I've been in the insurance business trying to make the life of insurance agents more profitable. So, you know, coming with the knowledge that I have, when I first started five years ago, I saw that there are so many missed opportunities and so much revenue that just wasn't being generated. And if agents would just incorporate the benefit that technology AI could bring, they could really maximize their potential. And, you know, they can see their business growing. And this is why we are here. This is what we are trying to do here in Leo. And I would, you know, love to tell more about that.

I am excited. Thank you. Thank you for what you're doing. Thank you for the background that you bring to the table and your spread of wealth, of diversity and presence worldwide. So honored to have you here. Thank you.

Thank you.

Yeah, I have to go after that.

Why Leo and what is leo?

I have to go after that. I have not spoken at the UN like Larry, so. And we'll start off with that.

But I encourage you, Scott. Not yet.

Yeah, yeah, there you go.

Exactly. You will work about it.

Yeah. So listen, I've spent most of my career in the tech sector, both as an owner and a contributor, and I've been associated in the insurance industry most of my life as both my dad and uncle had brokerages. One was on the benefit side, one was on the PNC side. And then I also led a nationwide team at Vertafore for almost eight years, Mike. And during that time, we were an outbound team. So during that time, I've probably been on site at about 800 agencies. You know, I always tell people, everybody spells insurance the same, and every brokerage does things completely different, as you know, so it keeps our industry fun. And so when I was looking at different companies, I picked Leo. I had a number of companies coming after me, and I actually was in a position to be able to pick, and I picked Leo because it fills that void in the market. It's. We're using a producer tool, using the latest technology and helping that producer find and retain clients. And we're doing it with. With some of the best technology in the market today. So that's what led me to Leo. And I'm excited. Not only what we're doing today, but as you mentioned, things that we have on our roadmap for the future, so.

Fantastic. And I can't wait. My comment is you have a developing technology that is going to grow right alongside the path of independent insurance agents and help them. And I love the fact that Larry is focused on profitability because, you know, without that, we don't have a business. And we're, you know, we got to remain in the black. We got to continue to grow. And we were talking about, you know, the difference with retention and then the growth on top of that in the agency business, and it's so vitally important, and you guys bring a perfect partner into the agency game. So, Larry, what is leo's differentiators? I mean, why LEO over and above any and all their options available to agents out there?

Yeah. So, you know, what is unique about LEO is that we are a prospecting tool with over 40 million prospects combined with insurance data intelligence. So we are a tool that was built by producers for producers, and this is why LEO is easy to use. So, for example, you know, we see users that in 10 minutes find 20 relevant prospect and they get all the important data on this prospect in order to validate that this is the right prospect for them. Now, Mike, let me ask you that. How long will it take this producer to send those prospects to his CRM or to enter those prospects into his CRM?

Well, it depends on the CRM and the complexity of the data. But just a minute or two.

A minute or two. But then you should multiply it, you know, by 20 or 30, and this is where you get, you know, to, to maybe an hour even. So one of the agency owners that we spoke with that is using leo, he said, you know, if you can create me a capability that if I see a prospect that I like, I can just send it to my CRM at a click of a button, and that can really save me a lot of time. So we said that's a good idea, and that's what we did. So today, if you, you know, getting the prospect that you want on LEO and you want to save them, you can do it in leo. But you can also just click on a button and just send it right away to your CRM. If it's agency zoom, if it's Salesforce, super easy. So this is, you know, those are the stuff that we are trying to do for the agents. We are trying to do everything super easy for them and to save them time while creating them value by presenting them the relevant prospect for them. And that bring me to the next thing. One of the nice things about nice thing about leo, I think, is that while, you know, agents are always in a race, right? They want to retain their book, they want to grow their book of business. And what we have in leo, one of the features is search by similarity. So prospect by similarity. This is where we are building you a list of prospects that are relevant for you according to your book of business or according to your latest searches. And this is where, you know, you can relax and just watch, you know, the list and just pick the Ones that are relevant for you. Of course, we do have also the option to be active and to search by criteria and Scott will explain more about that in a second. But also to provide the agent the capability of just watching what we have to do, what the AI has to offer. And the third thing is really the mobile version. We have the desktop version, but when we first build leo, it was a mobile version because, you know, agents are on the road, they are using their phone for almost everything. So why not to be able to also use your phone for work, to look for prospect while you are drinking your coffee in the morning or just getting some cross sell opportunities or use the NLP that we have. Natural language processing is really the ability to use your own voice and query about things that you need such as, you know, create me a prospect list in that zip code and LEO will create you, will generate you a list and you can do it while you are driving. So that's, I think what is, you know, special about LEO as opposed to, you know, other tools out there.

Wow. And the time that I've. Scott, I didn't know all that. I knew some of it, but I didn't know all of that. And that makes me even more excited about the future opportunities. And also what I heard. Thank you so much for the, you know, the depth of learning about LEO is, you know, if agents are out there and let's say they're out visiting an existing client.

Because, you know, that's part of what we teach, you know, if, if an agency has 800 clients, right. We learned from Joe Gerard, one of the most famous car salesmen in the world that everybody knows, 250 people that either come to their wedding or come to their funeral. We just make it simple math. Let's just call it a hundred. If they have 800 clients, that's an automatic 80,000 opportunities, right. What more do we want? And Larry, excuse me, not Larry, meet Leo and the team bring that right to our fingertips on our mobile devices and you compare and I love the fact search by prospect by similarity. And I've seen that in action with Scott. It's just so awesome. Fantastic. Thank you for all you've done. And I know it's going to continue to get better, which is fantastic. So Scott, let me volley a question to you. How does Leo help the producer? And Larry just touched on that briefly, but tell us more.

Yeah, let me, let me cover three areas and this kind of matches up with your book and some of the things that you and I have talked about. You know, we'll cover niches and validation and then kind of the data, you know, we started this conversation talking about data. So on the niches like you stated in your book and we talked about earlier riches and niches, right. I mean that's a common term industry. And this is the number one request I get with producers on our one on one session, which is how we onboard producers, we spend an hour with each one customizing and really helping them build out their book. You know, they all ask me, show me how to look up a specific market, right. So as you know, finding a specific market or a niche can be a, you know, a powerful strategy for a producer to differentiate themselves, which we allow them to do and they get to establish their expertise in that, that particular area. So using leo, the producer has the ability to search across different classifications, states and apply filters such as employee size and revenue size, which can help them identify potential clients and that the ones that fit their niche and create a more targeted marketing campaigns. Right. So there's a couple different ways that we, we use that, we've touched on it a little bit. So using leo's AI and machine learning, you can provide even greater value to the producers by automatically building out their prospect list based on their usage pattern. So as the system learns from the producer in their search history and their behavior, it can suggest new prospects. You don't even have to go looking for them. The more you use leo, the more it understands who you are and builds out that database for you. So we can, we can refine that, the existing prospect list for them as they use it, saving that producer time and effort and the prospecting efforts. So building and identifying key markets and businesses associated with those markets has never been easier. I always say let's allow the producer to do and use their talents and that is interfacing with those prospects and instead of wasting the time trying to find those prospects. Okay. And then under, under validation, that's a big area. And you know, you've done a lot of research on this. I've done a lot of research on this. Some people are still three year mark, some people are a year. It's really changing. You know, costs have skyrocketed, labor costs skyrocketed. So we're spending that hour with that new producer really trying to help them validate themselves, really trying to help them build out their book of business. And so, you know, each, each agency has their own methodology, right. And we offer multiple approaches to help the new producer, Mike, to, to validate them and to build their Book of business extremely fast. So one approach is where the producer creates a prospect list using leo's search engine that Larry talked about. So during, again during our one on one, we help them create that, that list validating prospects looking at the search by criteria area inside of Leo and they're searching over 40 million businesses and then we help them save the criteria that meets the requirement of the book of business business are trying to build so they can save that list and go to it when time permits. Right. If they're prospecting two or three times a day, they just go to the saved area inside of leo. So another approach, and this has been very popular also is a new producer doesn't have a book of business. We'll take a list of the agency's client and add that to the client section inside of leo. That automatically creates a prospect list based on the client list. And as you know, this ensures the market appetite and then allows the producer to use some of the current clients as references. And we'll talk about that a little bit later. But we have a one button push for referrals inside of LEO that producers, they actually helped us build it out and it's a phenomenal piece of technology we have inside of leo. So both approaches allow the producer to spend time, like I said, interacting with prospects and then not looking for them. Right. Let's, let's get them in their, in their lane. Right. And that is interacting with prospects. Any questions on that, Mike? And I'll get on to the data here in a second.

No questions. I'm just continually blown away by everything I learn about Meet leo. I mean I just wrote down endless opportunities.

Okay, let me.

This is, I think this is a cool one too. What more could one ask for?

Yeah, well, let's, let's run one more. How's that? And we kind of call this our single pane of glass into data. As we talked about when we got on this call was talking about data. Data's become king and it's ubiquitous. It's everywhere. Right. So when I read your book, I told you, I skimmed through your book. And that paper port example, I remember using paper port back in the day.

And it allowed you a second or. I agree. Yeah, yeah.

Well, it automated something you could do manually. Right. But it also added features that you couldn't imagine. So this kind of sums up Leo. You can search 40 million businesses on your own and eventually bringing over all the businesses and the contact information. Obviously this would take an enormous amount of time. Then when you start adding in OSHA.workers comp 5500 FE numbers broker information writing companies. You know, the list is long, the time really comes prohibitive. The part you couldn't imagine our differentiator in the market is, is the user acceptability. Mike I used to be a salesforce admin. We look at producers don't like entering data into a system. So our system, as you use it, produces that data for you. You don't have to type anything in, you have to go looking for anything. So again, we've been built by our customers. If you ask them how it's structured, LEO structured, it's structured with their workflow, their mentality in mind. We have weekly meetings with our customers asking for any input. Another key feature is our mobile approach. We're both mobile and desktop as Larry mentioned. So our mobile approach approach is phenomenal. Use something called nlp. So natural language processing people might know this is Siri or you know, Amazon or you know those things where you can talk to those databases. So I can be on the road as the, as Larry mentioned, I can talk to my phone and say hey, show me all the real estate prospects. And 90017, no typing, none of that. And within seconds I have that list. I can simply tap on that list and my driving instructions. I can call from my phone, I can email from my phone. And this is really, is a powerful tool for the producer. They could be at a customer saying hey, show me all the customer or all the prospects that look like this customer I'm at currently and get a map of that area. So go out and visit and knock on doors if that's the route they're going to take. So those are some of the three top areas that we're helping the producer with.

Mike, I could not be more excited about the future for agents with our up nichestoriches.com event coming up. This everything happens for a reason. And there's a reason that we're here right now sharing this information, learning more because they need this. And I've been a great student of business, of thought leaders, etc. Etc. The late Zig Ziglar said motivations like bathing. It's recommended daily. I just wrote down the day we stop using LEO is the day we stop growing.

Fair enough, fair enough right there.

I'm sorry, I did write that.

Yes, I will write it as well.

And what I picked up from Zig and his quotes was the day we stop learning is the day we stop growing. The day we stop using LEO is the day we stop Growing. So we just insert that. And that's one of the many, many things I'm picking up endless opportunities, 40 million opportunities just within that. And you're bringing AI and everything into the mix. We just gotta synthesize and figure out what our best prospects are and go after those. But I mean, sitting in the chair of an agency owner, I'm just know, blown away in the fact that I just got to find more producers. It's really that simple.

Right.

And. And because you have given us the prospects and everything else, we just got to create the processes and systems, which is what we help with, to be able to grow the business. Wow, Larry, also sitting in the chair of an agency entrepreneur, we're all always thinking about roi. And you being the CEO, I know you understand that. So let's talk about ROI and meet Leo.

Yeah. So from what we see, and you know, it's evolving and it depending on the size of the agency. So if it's a small agency, mid size, large size agency, it will vary. But what we see is that the ROI, the return on investment, can be between $30,000 per year per a producer, one producer in an agency, and it can get to $80,000. Okay. This is the ROI from using LEO for one producer. So if you have like four producers in the agency that are using Leo, think you know, what can be the amazing ROI that they can get each year thanks to Leo. And this is, you know, because if today, and this is, you know, for example, something that we heard from one of our agency and we saw it, you know, repeating that, you know, the average number of leads that they get in a month for a producer is about 20 leads. So we can double it. So with Leo, you can double that number. And this is where you can also double your revenue in that year with Leo.

Amazing. And I know the investment is a lot less than that. We'll get to that in a couple minutes, so.

Wow.

And I can feel and see the opportunity from a vision standpoint, and I've seen Leo in action. It is absolutely phenomenal. So, yeah, I mean, what an opportunity. And I know one of the things that Scott and I'm sure Larry's passionate about as well is the opportunity to grow organically, to build those depth of relationships and create customers for life, if you will. Another fellow up in your neck of the woods, Scott, Chuck Blondino, he talks about that, creating customers for life. So what an incredible opportunity for the future. So, Larry, what are some of your existing customers saying about their experience with Leo and their ability to actually create that kind of roi.

Yeah. So, you know, like Scott said, we like to meet with our users, and it's not only in the onboarding even that, you know, we don't really need to meet them while they do the onboarding process. They can just watch, you know, a video or a PDF and they will understand what they need to do.

But.

But it's super important for us to get on a call with them, to get to know them better, to give them the tricks and tips that Scott is so good at. And also, you know, the team that is sitting right here next to me, and it's, you know, because of that, this is how we get to develop those important features that, you know, Scott will mention in a minute. But this is how we can evolve and create more and more value for the agent. So, you know, one of the things, one of the quotes that we took from, you know, a meeting that we had a few weeks ago is that I found one company I was familiar with, but was not familiar with my. With any contacts. So now connection is made, and it's warm. It started cold, and it went warm within minutes. And this is exactly it, within minutes. So you don't need to invest a lot or, you know, at all in getting those contact those leads and get them to be warm leads in, you know, seconds and minutes right at their.

Fingertips, 24 7, 365, an unlimited future, endless opportunity. So that is so fantastic. And I know by introducing Meet Leo to many members of our unstoppable nation community, they too have seen the immediate value and immediately made the decision to partner with Leo. But the thing that I love about what you just said, Larry, is the fact that you care about the agents. You care about their future and their success, and you want to understand what they're experiencing. So you can take that back to your team and say, hey, this is what we learned from the agents who are in the trenches with LEO and how we can get better to better partner with them.

Yeah. So, you know, I heard this sentence somewhere. I don't remember in which podcast it was, but to be interesting, be interested.

No, 100%. I've heard that. I don't know where to.

Yeah, no, it's super, super important to know your users and, you know, their pains and. And, you know, to create a solution that will work for them.

And, you know, I know that's what Scott brings to the table. Larry's got depth in the industry. Scott's got depth in the industry. I have three and a half decades in the industry. And so that's what we want to all help with, because it's a big world and we're only here for a short time. So we want to make impact however we can to help others. And thank you for. For caring that much to do that, both of you. Thank you. So, Scott, we've set a bit of the foundational table for me, Leo, so far, and the future is big and vast and the opportunities are endless. Tell us about the future of Leo and your vision being on the ground here to help agents in a bigger way.

Well, what's interesting, let me start by this so that people can validate kind of our future path. Larry's sitting in Israel right now, right? A lot of our team is in Israel. I handle the US Team. And the reason why I bring that up is we were on a call and one of the producers says, you know, I live in a rural America. Can you. I want to search by county. We didn't have a county search. We just kind of went past our radar. So I said, yeah, I think we can probably do that. I pushed that off to SAR and some of his team on our data sciences team. And as you know, the time difference, right? So I go to bed, I wake up, guess what I see the next day, right? You can search by county.

It.

I kid you not. It is such a pleasure to work with our team because they just respond extremely quick. I woke up the other day, I look at Leo, I'm like, okay, this looks completely different. You know, they're just. They're constantly doing this. And one of the big things that they're. They're very conscious of is the data itself, the. The. The accuracy of the data. We hear of others in the marketplace go, hey, the data is just not that good. We have some. We put it in a validation piece where visually, you can see if this data is spot on. Right? We do that both on the business side and the email side, which is very important. So things like that are ongoing. All right, now, the seasoned producer, who's not maybe prospecting as much, depending more on referrals, which is where we all want to get, right, is that referral base. So we were on a call, and one of the producers, I'm not going to say which, the data he was going after, because this is. We're going to release this. I think it's going to shake up the market. But he was like, hey, I. I work a lot on referrals. You know, if you can integrate this into my system, this would be a Home run for me. Well, this is going to be released in a few days, so you're going to be able to know exactly where you have some relationships in the market at a prospecting level. So that's something new that's coming out. I'm look at here's, here's the way these folks think. Mike, I was sitting, I was in Israel sitting with some our data scientists and he goes, wouldn't it be cool if we could take a picture of a building, right? I got a filter up, but take a picture of a building and I read the metaphile on that building and now I produce all the information of the companies inside of that building, right? So it's, it's things along those lines that they're working on. They, you know, we talked about paper port, right? It did this one thing, but then it took it to the next level, right? Now you look at Leo using AI machine learning and, and giving you that prospect list, giving you that insurance information, but then taking it to that next level. I, I'll tell you, this has reinvigorated me in the industry, right? Look at my first sales call in the insurance world was, I think I got in trouble in school and my dad had to take me on a sales call. I sat in his car while he sold a life policy. Okay? So I've been around it for a long time and, and we're just, we're doing some cool stuff and this is really just the foundation. It really is.

Yeah. I think as soon as I'm done with this podcast, I, I just want to disconnect and go start producing again.

There you go.

I mean, who would have it better than I do? Nobody, right? So, Scott, Scott, here's one for you based on your story. Money and success. Love, speed and money and success. Don't sleep. So even while you're sleeping, Leary improve. Excuse me? Meet Leo improves itself. And when you wake up, we're automatically better. That is awesome. And, and that's just a gift that you guys are providing to the world, the ability to improve in that way. And you know, vision is the art of seeing things that other people can't see. So you're listening to your customers and other agents out there to get better. That is just absolutely fantastic. And that's just one of the many, many reasons why this is a huge opportunity for agents out there. So we can, I'm sure that we could go on about this all day long and maybe all night long, if you will, but we all have other opportunities to serve other people. In front of us. So if you're excited, as excited as I am about the future of Meet Leo and you want to learn more, I think we'll go to Scott on this one. Scott, how can agents learn more about LEO and get on a demo and just see it operationally working?

Yeah, so there's a number of different ways you go. You can obviously go to our website, which is meetleo.com, right. Wsmeatleo.com you can send me a personal note if you'd like.

And.

And I'm Scott s c o t t 2 t's e leo dot com. So there's a number of different ways that you can do that, you know, and. And one thing I want to let people know is you can schedule a demo on either one of those sites. Now, we do have people that are looking, they're trying to grow that. I wrote a note here. Producer migration. There's a lot of people that are trying to get that producer on board. I've seen agencies use LEO as that hook. It's like, hey, if you come with us, we can help you build your book of business quicker. So I do a number of different demonstration, as does the team for a producer perspective, from an owner perspective. And then I've had clusters and groups go, we want to find producers, and they actually use LEO to look for producers inside of LEO's database. So, number of different approaches that we can coach people on and demonstrate Leo's ability. Again, Scott, EO or WS meetleo.com well.

I'm going to send an email to scotteeleo.com because you just gave me three ideas to better help agencies in that wrap there. So thank you. I'll connect with you and we'll figure out a way that we can, you know, collaborate with others in the industry to grow and build together. So. Wow. I, I'm. I'm so fired up right now, I can't tell you. And the good news is I. I'm thinking about all the members of the unstoppable nation who also already have LEO at their fingertips. And I can't wait to share with them what I learned on this podcast so they can take it to the next level so I can encourage, inspire, and lead them to grow their businesses. So, Larry, Scott, thank you. Thank you, Mike.

Appreciate it.

Thank you for the opportunity to share with all of the agents out there across North America and beyond. Back to a Paper Port Quick paper report story. I too, remember the day that I learned about Paper Port. I think it Was, okay, I'll go ahead and date myself. 2001. And I remember the, the demonstration and I remember the thrust of agents running up to the front of the room to get their hands on paper port. We're like a virtual desktop. No paper. It's like, thank you. So it's the next coming, right? And so now that Virtual Desktop Meet Leo is taking that virtual desktop global is my quick vision of that. So what an opportunity. And again, thank you two for leading us into the future. Any last ads before we wrap today?

No, I think thank you for this great time and.

We are reading your materials and we are enjoying your podcast. So again, thank you for your work in this industry.

My honor and pleasure. The industry's been so good to myself, my family and all of us. It's all we have a duty and a responsibility to give back because of what we receive. So thank you. Scott, Larry, thank you for joining me today and I am excited about the future. Keep in touch. And Scott, I'll be in touch with you to help more agents. Speaking of helping more agents, if this is your first time on the podcast, welcome. My name is Mike Strom, so I'm widely recognized as a leading author, speaker and coach for the independent insurance agency industry. If you're interested in learning more about what we do, just go to unstoppable profit producer.com and if you're interested in attending one of our virtual or live events, our virtual event portal is up fast start.com and our live events are at be unstoppable boot camp.com both events and all the activities that we do to help agents are all designed to help you grow your business, create wealth, and have more freedom with all of the strategies developed inside an insurance agency business over 35 years to help you grow. And please make sure if you got great value out of this podcast, please share it with another agent that you know and care about. Just go to unstoppable profit podcast.com and share the link with them and they will learn this all about this incredible opportunity with Meet Leo and everything else that we do. And of course, we're out there on all the channels, including Apple Podcasts, Spotify, Stitcher, our YouTube channel, Amazon and beyond. So please share this with other agents that you know. And if you know other agents who are interested in learning about the Meet Leo opportunity, have them get in touch with Scott and you too will be amazed and excited about this incredible opportunity before us. Larry, Scott, thank you.

Thank you.

All right, everybody, I will see you on the next episode until then, get out there, make a difference. Be unstoppable. Leave no regrets. And as I was reminded again by the one and only Steve Jobs recently, don't be afraid. You can do it. We'll see you next time.

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