Maureen Maas, a founding principal of Collaborative Insurance Solutions, LLC

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show hosts. Thank you for choosing W

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forcy Radio. Churchill said, those
who fail to learn from history are condemned

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to repeat it. Kevin Helenan believes
that certainly applies to business. Welcome to

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Winning Business Radio here at W four
CY Radio. That's W fourcy dot com

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and now your host, Kevin Helenah. Thanks everybody for joining in again today.

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I am Kevin Hallanan and welcome back
to Winning Business TV and Radio on

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W forcy dot com. We're streaming
streaming live excuse me on talk for tv

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dot com addition to Facebook and that's
at Winning Business Radio, as well as

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iHeartRadio, Spotify, Apple, pretty
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The mission of Winning Business radio and
TV, as regular listeners know,

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is to offer insights and advice to
help people avoid the mistakes of others,

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to learn best practices. That's the
how twos, the what twos, the

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what not twos, to be challenged
and certainly and hopefully to be inspired by

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others. As you know, virtually
every successful person you know what, they've

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had some form of failures. That's
my experience and talking to them, they've

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had some form of failure in their
lives and careers. So listen. I

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always say, while we all have
to get our nie skin once in a

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while, I'm driven to keep those
scrapes from needing major surgery. Let's endeavor

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to learn from history so we don't
repeat it today. My guest is Maureen

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Moss, founding member a founding principle
of Collaborative Insurance Solutions LLC. Here's your

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bio and in Shar's veteran with thirty
years experience, Maureen began her career with

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Health Resources, a qualified loss management
program, educating clients on strategies to reduce

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workers compensation, loss experience and to
understand experience modification factors. We're going to

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talk about that calculations. Maureen later
joined the ranks of Managed Camp, including

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or excuse me, introducing clients to
self insurance groups as an alternative workers compensation

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financing option. In ninety seven,
she joined Liberty Mutual, where she worked

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as an account executive with a focus
on construction and real estate clients in the

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Greater Boston area. Maureen was the
recipient of Liberty's Top Producer Club, Millionaires

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Club, and Liberty Leaders Award.
In two thousand and nine, she joined

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a large natural national brokerage firm when
the agency acquired the renewal rights to Liberty

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Mutual's Northeast middle Market book of Business. In the agency environment, Maureen thrived

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and built upon her real estate and
construction construction experience. Her clients included the

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country's largest affordable housing multi family operator, as well as several prominent general contractors

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and subcontractors. Her clients benefited from
her team's ability to problem solve, focus

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on the details, anticipate issues,
and think outside the box to deliver cost

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effective results. Her in depth coverage
and historical loss analysis establishes the framework to

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negotiate favorable terms and conditions, uncover
loss trends and data, enabling clients to

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understand the drivers to costs to guide
decisions regarding program design lost control efforts such

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as fleet safety or post injury management
program for example. In twenty sixteen,

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Maureen was a founding principle of Collaborative
Insurance Solutions LLC, where she is now

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a boutique commercial and personal alliance property
and casualty insurance agency specializing in customized risk

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management solutions for small to medium sized
businesses and high net worth individuals. Collaborative

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has offices in Westwood, Massachusetts,
Shelburne Falls, and Greenfield, Massachusetts.

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An undergrad of Michael's and Vermont,
Maureen also earned her MBA from Bentley.

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She has earned the Chartered Property Casualty
Underwriter, Associates and Risk Management, Certified

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Insurance Counselor, and Construction Risk and
Insurance Specialist designations. She's an active member

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of the Boston Club, one of
the largest communities of women executives and professional

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leaders in the Northeast. She's actively
involved in the Foundation for MetroWest. In

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her spare time, she is a
I want to talk about this volunteer docent

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for Boston by foot of Boston based
not for profit organization dedicated to promoting public

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awareness and appreciation of Boston's rich architectural
heritage, delivering Freedom Trail tours. Maureen,

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Welcome to Business Winning Business Radio.
Thanks for being here, Thank you

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for having me. Nice to see
you, No problem, you two,

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you too. So let's start with
kind of the way back the wayback machine.

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Where'd you grow up? Long Island
in New York? Okay? What's

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town specifically? Great South? Okay, yeah, okay, cool. So

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tell us what it was like to
grow up there. It was pretty special.

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I was at the beach a lot, and so my father owned a

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restaurant. It was in the family
starting in nineteen thirty one and he sold

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it in nineteen eighty one, and
every one of us as children grew up

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working there, initially starting on saturdays
to do things you couldn't hire people to

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do, so cleaning up the garbage
in the parking lot and and just helping

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out the staff and learning how to
do things. And I will say it

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was a great training direct ground to
learn how to think on your feet and

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plan because once you became a server, I know, it's funny. I

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mean, this is like you talked
about the influential moment, like, what

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was it. I mean it really
was a training ground as to taking taking

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those skills and bringing me just being
organized, I mean, work ethic,

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the value of just taking care of
property. You know, I can't be

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talked about enough. It's okay,
I'm gonna sound old. I know I'm

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gonna sound but you don't see that
in some younger people today. It's kind

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of disappointing. Yeah, every Saturday
we go to work with my father.

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Yeah, every Saturday. So sorry
for the younger audience. I'm just calling

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it like I see it. What
were your early interests? Hmm. I

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loved to sail, love going to
the beach, love skiing, really athletics,

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anything athletic outdoor and you know,
sadly as one age as those things

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aren't always possible. But I still
ski. I got a ski. Yeah,

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I will need you at that ski
outing next year, I promise.

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Cool. Now, my dad was
a Saint Michaels. I've been to oneo

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ski park. What what made you
choose Saint Michael's. It's a long winding

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story. Yeah, my mother really
wanted her children to go to a Catholic

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school. Let's put it that way. And I also it had the programming

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I was looking for, and it
was also proximal to SKI areas, to

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be honest, I mean the confession, nothing wrong with that. Great and

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worked at Great and one of my
brothers was also going to be there as

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well, and so I'm very very
close to him and continue to be so.

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And it was really nice to have
him nearby. Always excellent. And

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then why business administration? Did you
know from the family business or what was

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your motivation for that? I actually
transferred to business administration and I just took

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it like, you know, a
duck to water or Yeah. One of

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the strange visions I had as a
child was, I know this may sound

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odd to younger listeners, but was
wearing a business suit. I mean,

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let's face, I'm growing up in
a certain era when women were allowed to

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just get credit cards, right,
the e r A was bantered about as

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a possible amendment, and my mother
always emphasized to us have the ability to

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be able to support yourself, right. And but I had this vision that

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I was going to be in a
business suit. I mean, I haven't

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worned one in a long time.
I've jettisoned every single one. I don't

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own them anymore. But there was
a period of time in the eighties where

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yeah, yeah, oh yeah,
with your you're looking at mine. It

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might have an occasional sports code,
but that's about it, you know.

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Yeah, no, that's as I
get that. And then how long after

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your undergrad and why, when and
why did you decide to get the BA

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I mean the MBA. Excuse me. I figured it was a way to

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secure a path to success. Was
it ever required by a manager? No,

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but it gave me a skill set
to process information and planned solutions,

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really see things holistically different components of
the business, and that was very important

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to me to have that kind of
a framework from which to see things,

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not just in where I was,
whatever lane I was in at the time,

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but to see what other people who
in senior level positions would be looking

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at right like, So it was
it was a good, good experience.

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Brutal, But I'll tell you one
of those insurance designations was as hard as

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getting my MBA. Really, Yeah, you know, I've heard I've never

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done that, but I've I've heard
some stories. Yeah, it was very

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hard, But then you have it
and you have the knowledge and yeah,

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I'm not sure a lot of people
appreciate it, but you have the knowledge

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and you're able to probably to do
more than others can do with those that

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don't have it. Depth of knowledge, right, Yeah, And honestly a

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lot of it just comes from experience. A lot of the people that work

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in our department, in our business
have same amount of experience as I do,

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and every week we still learn something. And in fact, I had

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someone in my office the other day, I said, how do you know

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that? She guys, I just
do It's it's insurance is Well, we

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haven't started talking about that yet,
but there's so many nuances to it.

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Well, my first question is,
how did you get into insurance? Well,

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I cannot the same the same day, I'm joking, the same day

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you saw yourself in a business suit, property and casualty. Right, it

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was an I don't know one person
who said I'm going to go into insure

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with deliberation like it. I fell
into it. So the funny thing is

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my grandfather was a life insurance salesman. I have all of his in my

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office office. I'm at home presently, but I have all of his awards

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from would have been the forties and
fifties, these cards of achieving certain things

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and pins and I have it all
framed really cool. So he was in

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the business. My sister was at
Liberty Mutual when I started there. People

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sometimes God is confused. My niece
went into insurance, so my nephew did

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for a period of time as well. I don't know. I fell into

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it and I found that it was
something that I took to very easily.

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It because every day is different,
every opportunity is different, and one has

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to be creative to figure out the
right solutions. Whether it's a claim problem,

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right, we have those all the
time, claim situations, tough renewals,

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particularly now with the property market.
We can talk about if you want,

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But you're right. The analytical piece
I love. I just love to

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dive in and figure things out.
What's causing things to head into a certain

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direction, and what can we do
proactively to educate our clients to mitigate that.

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I am going to actually dig into
that. I've got a few more.

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I want to do that right after
the break or shortly after the break.

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How did you I always like to
ask this kind of a might sound

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like a cheesy question, but there
are different answers, and I really appreciate

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it, and I think people do
as well. How did you get the

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first job in insurance? In your
case, it was the company I think

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called Health Resources? Right, Yeah, how did I get that? Gosh,

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that's you're really asking me to go
into training? The gray area?

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I think it was. I was
referred in. To be honest with you,

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that's what I hear a lot.
Yeah, I was referred in.

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And the workers' compensation market at that
time was it just, for lack of

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a better word, just completely blew
up. And most of the policyholders were

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in what's called the assigned risk pool. That means that no carrier says,

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hey I want to write your insurance, You're put in a pool of last

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resort. And it was, it
was, It was bad. So then

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there was a reform for workers compensation
in Massachusetts and a lot changed and this

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QLMP, the Qualified Loss Management Program, was a big driver and kind of

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turning the ship on that as was
a carrier called AIM. Associated Industries of

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mass started their own insurance carrier way
back when and to this day, if

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people have been with them all along, they will continue to stay with because

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they took them out of a very
bad situation thirty years ago. So there's

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still loyalty out there. So for
those that don't know, probably most do.

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But workers Compass is mandatory. You
have to carry it, but then

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it can be difficult to get in
some cases. Right, yep, it

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is absolutely mandatory for almost every business
unless you're like a sole proprietor or something

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like that. But if you have
employees, you must have workers comp So,

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although it's rare to actually pull it
off legally, what about a ten

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ninety nine organization that is only ten
maybees they have three or four ten ninety

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nine The ten ninety nine people need
to show that they have their own coverage

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or the person who was paying them
needs to procure a policy and count them

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as their own. Yeah. Again, in most cases, ten ninety nines

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are not really ten ninety nine,
but we'll cover that another time. Yeah,

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that's more for an a journey,
there's like three years. There's like

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certain criteria as to are they doing
what you do? Are they under your

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direction? Yeah? Yeah, all
right, we're gonna take our first break.

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We'll be back with Maureen Moss Mareen. We'll be back with Maureen and

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you with the audience in about sixty
seconds. See on the other side,

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you're listening to Winning Business Radio with
Kevin Helena on W four c Y Radio.

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to Winning Business Radio with Kevin Helena, presenting exciting topics and expert guests with

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one goal in mind to help you
succeed in business. Here once again is

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Kevin Helena. We are back with
Maureen Moss, founding principle of Collaborative Insurance

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Solutions. I wanted to ask about
this next company because there's an interesting term

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in there. You aren't managed comp
for three and a half years SIG's self

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insurance groups to tell the audience about
those and how it might benefit some.

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00:17:03.240 --> 00:17:10.440
Yeah, so there are a number
of self insurance group administrators and they're pooled

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with like kind companies. So there
could be a healthcare self insurance group where

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nursing homes or hospitals, most hospitals
are too big to be part of one,

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00:17:19.960 --> 00:17:26.799
but the names or something like that, or retail or truckers or auto

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dealerships, so they're grouped together and
they can opt out of what's considered admitted

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insurance, right what most businesses get
and the experience is pulled together and they

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have an opportunity to earn what's called
a surplus return in exchange for good experience.

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So if an experience for the audience, oh, absolutely so. Premium

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is determined based on payroll end rates. Rates are based on the class code

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for workers comps, so that just
a dangerous administrative verses forklift, a roofer

214
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is going to be a lot more
expensive than a carpenter and so with those

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comes expected losses. And so if
you're able to keep your losses within like

216
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forty percent of the premium collective,
that's considered a favorable loss ratio, and

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00:18:30.799 --> 00:18:34.839
in most self insurance groups you would
get a return of what they call surplus.

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And it's a way for smaller businesses
who wouldn't qualify for that loss sensitive

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you know, the opportunity to get
returned premium. It gives them a vehicle

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to do it. Self insurance groups
will be very judicious on who they allow

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in the group. Not just anybody's
going to get in. You have to

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demonstrate you have good financials, right. You have to demonstrate that you have

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good experience meaning the losses, and
have good hiring practices as well as a

224
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safety program, and that makes you
eligible for a self insurance group to receive

225
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a quote and then after analysis they
decide it makes sense for them. Most

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employers who go into an self insurance
group don't leave. It's they find it

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00:19:33.440 --> 00:19:41.279
to be a very good long term
solution. So is that different than an

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organization that says we're self insured?
That is that a different or is that

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00:19:45.279 --> 00:19:51.119
the program they're referring to they could
be. So for an organization to be

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00:19:51.680 --> 00:19:56.160
self insured on their own, I
believe they need to generate approximately a million

231
00:19:56.160 --> 00:19:59.960
of premium and that's a very large
organization. They have to have a lot

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00:20:00.039 --> 00:20:03.000
of assets. Yeah, yeah,
yeah it most most places. If they're

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saying they're self insured, is probably
they're in a self insurance group, would

234
00:20:07.440 --> 00:20:11.200
be my guess. Yeah, I
mean they're gonna everybody's gonna have a loss,

235
00:20:11.240 --> 00:20:14.319
right, If somebody's gonna get hurt, somebody's gonna you know, stub

236
00:20:14.319 --> 00:20:15.880
a toll, let's say. And
if you can't handle that, you're in

237
00:20:15.920 --> 00:20:22.119
trouble. Right. So I have
a little interesting factoid. Workers comp is

238
00:20:22.160 --> 00:20:26.720
the only policy without a limit on
it. Wow. Yeah, So let's

239
00:20:27.000 --> 00:20:33.599
here's an example. A catastrophic injury
to a young person on a construction site,

240
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twenty two years old. And I'm
gonna this is insurance speak right now.

241
00:20:41.160 --> 00:20:45.480
It's cheaper if they if they if
they die, right, this is

242
00:20:45.519 --> 00:20:48.000
just a fact. I don't mean
to be I know where you're going with

243
00:20:48.079 --> 00:20:52.039
this. It's a fact. You're
right. But if they survive and need

244
00:20:52.240 --> 00:20:56.640
intensive medical care for decades, I
mean that the cost of that is in

245
00:20:56.680 --> 00:21:04.680
the millions, and so the policy
will continue to pay medical and wage replacement.

246
00:21:04.839 --> 00:21:11.839
It doesn't ever say we're done until
you're done. When the individual either

247
00:21:12.160 --> 00:21:17.440
transitions to different life, you know, like it's probably not going to happen

248
00:21:17.519 --> 00:21:21.799
until they pass away. Right,
Yeah, Well that's awful to think about,

249
00:21:21.839 --> 00:21:22.680
but it's a fine I'm so sorry. I don't know, No,

250
00:21:22.799 --> 00:21:26.519
you're I love examples. Examples are
good. They drive it home. Right,

251
00:21:26.640 --> 00:21:33.000
Yeah, So that's fine all right? At Liberty, I want people

252
00:21:33.039 --> 00:21:36.759
to understand what it takes to do
this the Top Producer Club, the Millionaires

253
00:21:36.759 --> 00:21:42.200
Club and Liberty leaders. How does
one earn awards like that? Hard work?

254
00:21:42.599 --> 00:21:49.240
Yeah, and a little bit of
luck. So there's a there's a

255
00:21:49.279 --> 00:21:56.319
podcast, not a page on Instagram
now called hard Market, and there's the

256
00:21:56.519 --> 00:22:03.359
person who runs it is anonymous,
but I heard it's a female. The

257
00:22:03.400 --> 00:22:11.279
message is know your product, like
don't change jobs for a small raise,

258
00:22:11.680 --> 00:22:18.960
Like know your product, know that
which you are selling. If you do

259
00:22:19.000 --> 00:22:22.400
not know the product, you will
not survive. You will not. You

260
00:22:22.440 --> 00:22:27.079
will not What are you even talking
about? Right? You have to know

261
00:22:27.160 --> 00:22:33.640
the product and it takes a very
long time. So it's just hard work.

262
00:22:33.680 --> 00:22:37.799
I don't have any other answer than
hard work. I wish I did.

263
00:22:37.640 --> 00:22:40.839
That's good. That's a great answer. People need to hear that.

264
00:22:41.519 --> 00:22:45.559
So you're worth Liberty very well known
company. Funny ads, but a strong,

265
00:22:45.880 --> 00:22:51.920
solid company. What was your key
takeaway? What was your most important

266
00:22:51.960 --> 00:22:53.000
I know this is a big question. You'll have to think about it for

267
00:22:53.000 --> 00:23:00.200
a minute. What's your most important
lesson from being at Liberty. That's a

268
00:23:00.200 --> 00:23:08.720
really great question. I would say
learning how to prepare a submission for an

269
00:23:08.799 --> 00:23:18.799
underwriter, anticipating the questions they're going
to have, anticipating the concerns, answering

270
00:23:18.839 --> 00:23:25.200
those in advance, and teeing it
up so that my submission elevates to the

271
00:23:25.240 --> 00:23:27.799
top of the pile. Right.
You want to make their job easier.

272
00:23:27.920 --> 00:23:36.720
You want to do their heart analysis
for them. And that experience applies everywhere

273
00:23:37.119 --> 00:23:41.559
because as we go to market for
our clients insurance, it's the same principles

274
00:23:41.599 --> 00:23:49.000
apply. Do your homework, put
together a type submission, and be clear

275
00:23:49.039 --> 00:23:55.960
on what the ask is right and
know what information is needed. I don't

276
00:23:56.039 --> 00:24:00.440
have this, but with this experience, we know when we have enough,

277
00:24:00.039 --> 00:24:10.200
like there's no and to be to
establish the reputation that you're going to tell

278
00:24:10.240 --> 00:24:18.400
them all the good and the bad. There's nothing worse than withholding information when

279
00:24:18.440 --> 00:24:22.359
you're writing insurance because it's not a
good idea. It's just not a good

280
00:24:22.400 --> 00:24:26.720
idea. If they had a if
something, you just have to address it

281
00:24:26.119 --> 00:24:30.359
and address it up front. This
was what happened, this is the issue,

282
00:24:30.039 --> 00:24:36.599
this is what's being done to address
it. And then you build credibility

283
00:24:36.640 --> 00:24:38.279
with the underwriter. They know that
they can trust you, because it's like

284
00:24:38.359 --> 00:24:44.240
everything Kevin. Yet you need to
have trust, you need to be trusted

285
00:24:45.559 --> 00:24:49.359
because they're the ones who are putting
up what we call putting up the paper

286
00:24:49.680 --> 00:24:53.640
to write a risk because it's a
risk, we call them risks, and

287
00:24:53.640 --> 00:24:57.880
they're going to collect one hundred thousand
dollars or whatever it is, and they

288
00:24:57.920 --> 00:25:03.519
want to know that they're not going
to lose money. So however we can

289
00:25:04.160 --> 00:25:10.079
alleviate their concerns, I guess is
my takeaway from my experience at Liberty.

290
00:25:10.839 --> 00:25:14.880
So just for the audience that may
not be aware, just generally describe the

291
00:25:14.960 --> 00:25:18.039
underwriting process. What do they look
for? What's your job? You just

292
00:25:18.119 --> 00:25:22.839
explained part of your job, clearly
described all the part and information. But

293
00:25:22.920 --> 00:25:27.279
what do they do with it?
They evaluate is it in their wheelhouse?

294
00:25:27.359 --> 00:25:30.240
Right? Do we want to be
on this kind of a risk. So

295
00:25:30.480 --> 00:25:33.119
what's presented to them as a description
of the business, What lines of coverage

296
00:25:33.119 --> 00:25:37.599
are we looking for, So it
could be property, auto, general liability,

297
00:25:37.680 --> 00:25:41.319
umbrella, workers comp whatever, And
there are companies that specialize in certain

298
00:25:41.319 --> 00:25:45.559
types of insurance and not others.
Right, Yeah, and that's something that

299
00:25:45.799 --> 00:25:51.799
again we talked it before about experience. It's just afterwhiles, it's osmosis.

300
00:25:51.799 --> 00:25:57.920
But appetites change overnight, so you
really can't count on yesterday's appetite. So

301
00:25:59.599 --> 00:26:02.759
they've been just basically look at it
and say, is this, how's the

302
00:26:02.839 --> 00:26:06.880
laws experience? Are their class codes
on there that we don't like? Are

303
00:26:06.920 --> 00:26:11.200
they doing things we don't like?
I had written a client at one time

304
00:26:11.240 --> 00:26:15.519
and their website said they did all
kinds of things that I'm not sure they

305
00:26:15.519 --> 00:26:21.920
ever really did, but they are. Clients sometimes put themselves out there as

306
00:26:22.240 --> 00:26:29.480
being something that they're not to attract
more more business. So this one client

307
00:26:29.519 --> 00:26:36.680
I think was saying that they worked
on like nuclear power plants or something,

308
00:26:37.200 --> 00:26:40.559
and so the underwriters like, nah, we're going to take a pass.

309
00:26:41.240 --> 00:26:45.880
And so what I mentioned before about
the pre work, that's the pre work.

310
00:26:47.400 --> 00:26:49.200
Look at you know, check out
the website. Is there anything there

311
00:26:49.240 --> 00:26:53.039
that's going to cause alarm? Talk
to the client or prospect, do you

312
00:26:53.079 --> 00:26:57.480
really do work on nuclear power plants
and then address it in the submission.

313
00:26:59.079 --> 00:27:03.400
Oh that's just and because once they
say no, very hard to unwind its

314
00:27:03.640 --> 00:27:07.960
hue, very hard to unwind it, then you might be looking at another

315
00:27:07.039 --> 00:27:11.000
carrier who may not be as favorable. Ratesman may not be as good.

316
00:27:11.519 --> 00:27:14.799
Coverage as may not be as good. You can always find coverage, it's

317
00:27:14.759 --> 00:27:18.200
just what's the freemom going to be? Yeah, good point, coverage point.

318
00:27:18.480 --> 00:27:22.559
And part of your expertise clearly is
knowing who to go to for which

319
00:27:22.559 --> 00:27:27.400
policies. Sure, yeah, all
right, So fast forward a little bit.

320
00:27:27.839 --> 00:27:33.039
Co founder. It said you're you're
listening in your bio a co founder,

321
00:27:33.039 --> 00:27:37.799
which would suggest there's more than one
of collaborative insurance solutions in twenty sixteen.

322
00:27:37.039 --> 00:27:41.440
So talk about your current business,
why you decided to do that?

323
00:27:42.319 --> 00:27:45.880
Who who? You're gonna name names
or just describe people, It doesn't matter.

324
00:27:45.880 --> 00:27:49.480
They can give them a you know, a shout out if you want

325
00:27:49.480 --> 00:27:53.599
to. But talk about the business
that you formed in twenty sixteen. Yeah,

326
00:27:53.920 --> 00:28:00.240
I so, my business partner and
I I think we both kind of

327
00:28:00.279 --> 00:28:07.880
knew we wanted to do something different. Where we were wasn't for the long

328
00:28:07.920 --> 00:28:14.119
haul. What either one of us
maybe wanted to be doing. And with

329
00:28:14.279 --> 00:28:17.960
running your own business, you can
choose what market you're going to be in

330
00:28:18.400 --> 00:28:21.119
and how you're going to run the
business and how you're going to hire,

331
00:28:21.880 --> 00:28:27.440
and so it's been. It's it's
different challenges, different stresses, but it's

332
00:28:27.480 --> 00:28:33.960
been great. So we're in six
and a half short years. We're up

333
00:28:33.960 --> 00:28:42.000
to twenty four employees and have grown
pretty quickly. It's been, it's been

334
00:28:42.039 --> 00:28:45.839
great. How many producers which in
your world, that's what I would call

335
00:28:45.880 --> 00:28:51.359
salespeople? Yeah, well it's you're
looking at it me and my business partner.

336
00:28:51.519 --> 00:28:52.599
Yeah, I kind of figured,
but I want to ask. And

337
00:28:52.640 --> 00:28:59.799
so the others are customer service,
Yeah, yeah, you're writing or so

338
00:29:00.400 --> 00:29:07.839
most of we have I think three
solely dedicated to operations. So are we

339
00:29:07.880 --> 00:29:15.200
have an operations lead? Fantastic.
She's been working in this business as a

340
00:29:15.240 --> 00:29:22.200
consultant for insurance agencies our size for
at least a couple of decades and she

341
00:29:22.279 --> 00:29:26.720
brings an incredible wealth of experience.
Just phenomenal to have her with us.

342
00:29:27.599 --> 00:29:34.400
She's a principle as well, and
we have operations as well as accounting,

343
00:29:34.640 --> 00:29:41.440
and then everyone else is direct interface
with the clients on both commercial which your

344
00:29:41.519 --> 00:29:45.559
business and personal alliance, which is
for example, your homeowners and auto and

345
00:29:45.640 --> 00:29:48.799
both policies and things like that.
All right, we're going to take another

346
00:29:48.839 --> 00:29:52.480
break. We'll come back and learn
more about your firm, your current collaborative

347
00:29:52.480 --> 00:29:56.119
insurance solutions firm. We'll be right
back and everybody, we'll see in about

348
00:29:56.119 --> 00:30:07.079
a minute. You're listening to Winning
Business Radio with Kevin Helena on W four

349
00:30:07.160 --> 00:30:11.000
CY Radio. That's W fourcy dot
com. Don't go away. More helpful

350
00:30:11.039 --> 00:30:19.680
information is coming right up right here
on Winning Business Radio. Hey, this

351
00:30:19.839 --> 00:30:23.559
is Elliott Lewis of Hall and Oates
and you're listening to W four c Y

352
00:30:23.759 --> 00:30:33.279
Radio. The yp dot com website
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the ypapp to find the closest repair
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So go to yp dot com or
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find local, and save local.
And now back to Winning Business Radio with

361
00:31:06.200 --> 00:31:11.720
Kevin Helena, presenting exciting topics and
expert guests with one goal in mind to

362
00:31:11.799 --> 00:31:22.839
help you succeed in business. Here
once again is Kevin Helena. Welcome back.

363
00:31:22.839 --> 00:31:27.599
We're here once again with Maureen Moss, a founding principle of Collaborative Insurance

364
00:31:27.720 --> 00:31:33.400
Solutions LLC. Now the business is
in Westwood, Massachusetts. Do your clients

365
00:31:33.000 --> 00:31:37.359
need to be I know the answers
to lay up. Do they need to

366
00:31:37.400 --> 00:31:42.799
be within driving distance of Westwood,
Massachusetts? Oh no, Well, as

367
00:31:42.839 --> 00:31:47.880
you know, after the pandemic,
everything is different. Oh yeah, I

368
00:31:48.319 --> 00:31:52.200
rarely, I won't say really,
but it's not often that I see clients

369
00:31:52.240 --> 00:32:00.839
anymore. Every everyone has become so
accustomed to simple phone calls, emails with

370
00:32:00.920 --> 00:32:04.799
an occasional zoom. Some clients we
do need to meet with in person,

371
00:32:05.759 --> 00:32:09.799
but I don't need to say need. We meet our clients where they're at

372
00:32:09.960 --> 00:32:15.359
and if it helps them for us
to visit to discuss it, we will

373
00:32:15.400 --> 00:32:22.279
be there. So I want to
back up just slightly. How difficult or

374
00:32:22.319 --> 00:32:25.559
what was the process of starting a
firm. You knew you didn't want to

375
00:32:25.559 --> 00:32:29.400
be where you were long term?
Yeah, I did. What long term

376
00:32:29.400 --> 00:32:32.680
would look like for you? What's
that process look like? That process is

377
00:32:37.519 --> 00:32:42.279
not violating the non solicitation Sure,
yeah, that's it. That's good.

378
00:32:42.640 --> 00:32:51.960
That's that process. The other is
a funding mechanism to get us to the

379
00:32:52.000 --> 00:32:58.200
point before we have revenue coming in
to cover our expenses, to affiliate ourselves

380
00:32:58.240 --> 00:33:01.240
with an organization before we were able
to go out on our own. So,

381
00:33:01.480 --> 00:33:08.440
because very few people start insurance agencies, they're being gottled up like a

382
00:33:08.480 --> 00:33:14.000
pac man right now. Big ones
goble up the medium ones. The medium

383
00:33:14.000 --> 00:33:16.799
ones gobble up the small ones.
And so we've actually had how we've grown

384
00:33:16.920 --> 00:33:27.039
is through two acquisitions. So we
affiliated ourselves with an organization so that we

385
00:33:27.119 --> 00:33:36.160
could access markets and have a platform
to conduct business. All right, define

386
00:33:36.279 --> 00:33:39.920
markets for the audience, Yes,
thank you, travelers, Liberty, so

387
00:33:40.000 --> 00:33:45.400
insurance carriers, because they're not going
to say, hey, you know mo,

388
00:33:45.720 --> 00:33:47.839
we've we've worked you with you in
the past, We're going to give

389
00:33:47.839 --> 00:33:52.599
you an appointment. They're just not
going to do that. So we needed

390
00:33:52.640 --> 00:33:59.680
to align ourselves with an organization until
we've built up a sufficient volume to then

391
00:34:00.119 --> 00:34:01.880
go out on our own, which
was about two and a half years ago.

392
00:34:04.240 --> 00:34:08.280
We did that, and then shortly
thereafter we acquired a couple of agencies.

393
00:34:10.559 --> 00:34:17.760
What was the most difficult part of
getting up and going building the business?

394
00:34:19.760 --> 00:34:22.760
Starting really starting over business development wise? Right? Bring? Yeah,

395
00:34:22.840 --> 00:34:29.199
bringing the clients and the other thing. That's interesting that you asked that when

396
00:34:29.239 --> 00:34:34.039
I was working for Liberty and then
at that large middle market broker was working

397
00:34:34.039 --> 00:34:39.639
in a market segment that was a
lot different working with fewer, larger clients,

398
00:34:39.679 --> 00:34:45.559
Okay, and now it's a lot
of smaller clients and their needs are

399
00:34:45.599 --> 00:34:49.599
different. So when you're dealing with
large, you know, middle market to

400
00:34:49.800 --> 00:34:54.199
large clients, they know they know
insurance, they've been doing it a while.

401
00:34:54.719 --> 00:35:00.679
And so we now deal with new
business owners who don't what they don't

402
00:35:00.719 --> 00:35:06.679
know and they rely on us for
education. Why do I need insurance?

403
00:35:07.000 --> 00:35:12.719
What insurance do I need? And
so it's it's a different approach. And

404
00:35:12.760 --> 00:35:16.599
I would say that was that was
an interesting transition because the markets are different

405
00:35:17.280 --> 00:35:22.079
and the coverage is something is different
as well. To know what to look

406
00:35:22.119 --> 00:35:30.199
for, Yeah, that was that
was a big learning curve. But I'm

407
00:35:30.239 --> 00:35:32.159
going to be fun. I'm gonna
let your geek out a little bit.

408
00:35:32.679 --> 00:35:37.079
I want to I want the audience
to understand the following terms. So just

409
00:35:37.679 --> 00:35:39.679
explain it in the best way of
possible. Risk management. That's a big

410
00:35:39.679 --> 00:35:44.960
thing that you do. Risk management. Yeah, so that's identifying exposures.

411
00:35:45.480 --> 00:35:52.079
So exposures could be the building,
the employees, the vehicles, claims,

412
00:35:52.119 --> 00:35:59.800
history, what do you do to
to then you look at losses. What

413
00:36:00.039 --> 00:36:07.400
of the losses? Yes, historical
claims, experience and is there a story

414
00:36:07.679 --> 00:36:10.719
to be told. I'll give you
an example. A client of ours,

415
00:36:10.880 --> 00:36:15.800
for about the eighth time, submitted
a claim they were a hotel of somebody

416
00:36:15.920 --> 00:36:21.239
slipping in the bathtub. So I
thought, okay, this is bizarre.

417
00:36:21.400 --> 00:36:27.159
We keep getting these claims, and
so I went into the carrier website and

418
00:36:27.239 --> 00:36:31.719
I said, okay, client,
this is X number of slips and falls

419
00:36:31.719 --> 00:36:36.760
in the bathtub. I said,
nobody's been hurt seriously yet. But in

420
00:36:36.800 --> 00:36:44.079
our business, we say frequency breeds
severity. If you haven't similar situations presenting

421
00:36:44.119 --> 00:36:46.119
themselves, the big ones coming.
I mean, that's just the way it

422
00:36:46.199 --> 00:36:52.119
is. That makes sense. And
within a week they had anti skid grips

423
00:36:52.199 --> 00:36:58.840
on the bottom of every tub in
this two hundred room hotel. So that's

424
00:36:58.880 --> 00:37:01.960
what we do. Like they didn't
see it because nobody you know, I'm

425
00:37:01.960 --> 00:37:06.440
gonna say they're arguably smart people.
They just didn't see that. Yeah,

426
00:37:06.519 --> 00:37:10.280
right, you did. Yeah.
So that's that's the best example I can

427
00:37:10.320 --> 00:37:15.840
give you in a story what risk
management is and then loss analysis, says

428
00:37:15.840 --> 00:37:20.400
you just alluded to, is taking
a look at where their losses have come

429
00:37:20.480 --> 00:37:23.039
from, what policies, where the
policy had to pay out. How can

430
00:37:23.079 --> 00:37:28.599
you minimize yep, those, as
you said, risks from continuing. I'll

431
00:37:28.639 --> 00:37:34.239
give you another example on that.
For fleet safety. If we look at

432
00:37:34.280 --> 00:37:37.880
the historical claims experience of a large
fleet and we see that there's a lot

433
00:37:37.920 --> 00:37:44.159
of ensured vehicle claims, and then
you take a deeper look and it's backing

434
00:37:44.280 --> 00:37:49.039
up. Okay, they need some
training on backing up their vehicles, and

435
00:37:49.199 --> 00:37:54.199
if their trucks, they can put
some The carriers have lost control people out

436
00:37:54.199 --> 00:37:59.280
there. Some carriers call them risk
control people. They will send them out

437
00:37:59.360 --> 00:38:05.159
and show them how to put lines
in the parking lot and then give them

438
00:38:05.199 --> 00:38:08.199
the roadmap so to speak, no
pun intended, on how to navigate.

439
00:38:08.480 --> 00:38:14.880
So there's a solution for everything.
You just have to identify the problem and

440
00:38:14.920 --> 00:38:22.199
then discover the solution. And then
most importantly, the client needs to be

441
00:38:22.360 --> 00:38:30.719
willing to address it. There's some
clients that just simply can't for whatever reason,

442
00:38:30.760 --> 00:38:37.119
they don't have the bandwidth, or
some they or they just don't.

443
00:38:37.199 --> 00:38:43.199
Some clients just don't care. Don't
say that. Look, so it might

444
00:38:43.199 --> 00:38:45.920
be might be backup cameras, It
might be as you said, better training

445
00:38:45.960 --> 00:38:50.239
for the drivers. It might be
one driver if you'll drilled down, it

446
00:38:50.320 --> 00:38:55.239
might be one particular driver, right, yeah, Charlie, no offense to

447
00:38:55.360 --> 00:39:04.760
Charlie. How about program design,
Yeah, that's an interesting question. So

448
00:39:04.920 --> 00:39:09.840
program design for the listeners is not
one all size fits not one size fits

449
00:39:09.920 --> 00:39:17.280
all. So for I'll give another
example, complex property. So we don't

450
00:39:17.320 --> 00:39:27.679
need to look even two weeks back
to see catastrophic property damage claims all over

451
00:39:27.920 --> 00:39:31.599
this country and a budding nations.
So we have the fires in Canada,

452
00:39:32.119 --> 00:39:37.639
we have the fires in Maui.
We have the earthquake and the rain and

453
00:39:37.679 --> 00:39:44.480
the mud slides in la Vermont that
had the flooding, historic flooding a month

454
00:39:44.519 --> 00:39:51.199
ago. So the property market is
the hardest when and when we use the

455
00:39:51.239 --> 00:39:59.119
word hard. What's meant by that
is there is no negotiation. It's the

456
00:39:59.559 --> 00:40:05.599
rapes are going up and deductibles are
going up. Risk sharing is going up.

457
00:40:05.760 --> 00:40:08.599
That means that the client just takes
more of a deductible. And so

458
00:40:08.800 --> 00:40:14.159
program design is okay, you have
to build up. Say they need one

459
00:40:14.199 --> 00:40:16.320
hundred million of property limits. How
are we going to get there? Because

460
00:40:16.599 --> 00:40:21.880
depending on where they are located.
So I'm working on a renewal now in

461
00:40:22.039 --> 00:40:25.440
Florida, Broward County, probably the
worst county in the country to get coverage

462
00:40:25.519 --> 00:40:34.239
right now, we just have to
be we have to get a standalone named

463
00:40:34.280 --> 00:40:38.719
windstorm policy. We need to build
up the primary ten million, and then

464
00:40:38.760 --> 00:40:44.599
above it get another layer and then
another layer. And so it's really just

465
00:40:44.719 --> 00:40:50.000
fitting these tetris blocks together and taking
a step back and say does it all

466
00:40:50.000 --> 00:40:55.679
fit? And also having the right
partners to get us there. That's program

467
00:40:55.800 --> 00:41:04.400
design. Getting the right coverage at
the right price and understanding where can you

468
00:41:04.440 --> 00:41:09.599
be flexible to achieve optimal results?
Sounds easy, but it's not. No.

469
00:41:09.920 --> 00:41:13.440
I mean, it makes sense to
hear you describe it that way,

470
00:41:13.480 --> 00:41:16.880
but I'm sure it's not. How
about post injury management Oh, that's a

471
00:41:16.920 --> 00:41:23.239
great question. So it's not necessarily
what happens after the accident, it's what

472
00:41:23.280 --> 00:41:28.719
the client has done beforehand. And
what I mean by that is if you

473
00:41:29.760 --> 00:41:34.400
are a free standing location a fixed
location, so say you're a large manufacturing

474
00:41:34.400 --> 00:41:42.760
facility with five hundred jobs, and
if the health and safety people ought to

475
00:41:43.079 --> 00:41:49.280
I mean best practices, not so
much the job description. Right, we

476
00:41:49.360 --> 00:41:54.199
have job descriptions to hire the right
skill set from an academic standpoint, but

477
00:41:54.320 --> 00:42:00.079
the physical job description. This individual
needs to be able to push pull ten

478
00:42:00.119 --> 00:42:05.880
pounds lipt ten pounds overhead under whatever
it is. Have that physical job description

479
00:42:06.480 --> 00:42:15.199
ready for every job. Identify a
preferred provider near your manufacturing facility, meet

480
00:42:15.639 --> 00:42:22.960
with the action occupational health doctor there
and tell that MD that you have transitional

481
00:42:23.480 --> 00:42:30.199
modified return to work. And then
when your employee goes to them for an

482
00:42:30.239 --> 00:42:40.039
occupational injury, they have their physical
job description and the doctor knows that you're

483
00:42:40.119 --> 00:42:46.239
open to transitional modified duty. We
prefer for our clients not to call it

484
00:42:46.519 --> 00:42:53.119
light duty because that implies that the
person returning to work isn't pulling their weight.

485
00:42:53.159 --> 00:43:01.239
You have issues, coworkers, because
transitional implies it's temporary modify implies that

486
00:43:02.039 --> 00:43:07.760
again, you know you've you've made
accommodations in keeping with ADA. So so

487
00:43:08.280 --> 00:43:13.639
it's not so much so we haven't
even talked about the injury yet. This

488
00:43:13.719 --> 00:43:17.800
is all before the injury, and
then after the injury. It's staying in

489
00:43:17.840 --> 00:43:22.920
touch with the employee, letting them
know that you care, letting them know

490
00:43:22.960 --> 00:43:28.239
there's a position, whatever it is, and that that's a that's a successful

491
00:43:28.280 --> 00:43:36.320
return to work program. Summarizing what's
your favorite success story to date? Oh,

492
00:43:36.480 --> 00:43:39.280
this is a hard question, or
it doesn't not be favorite, just

493
00:43:39.400 --> 00:43:49.519
a success story to date. Hm
hmm. I promised her that these would

494
00:43:49.559 --> 00:43:53.199
be layups. Yeah, no,
I'm just trying to think. Go to

495
00:43:53.239 --> 00:43:55.719
the next question. I'm gonna all
right in the back, all right,

496
00:43:55.800 --> 00:44:00.400
Yeah, think about that. So
tell us about the Boston Club and Foundation

497
00:44:00.440 --> 00:44:04.960
for MetroWest. Yeah. So the
Boston Club, it's a group of professional

498
00:44:05.000 --> 00:44:13.320
women about forty years in the in
existence, and we help women advanced to

499
00:44:13.599 --> 00:44:16.960
the c suite and board of directors. So there's a lot of training for

500
00:44:17.039 --> 00:44:22.280
that, great networking. I met
some wonderful women there in the last ten

501
00:44:22.360 --> 00:44:28.320
years. It's really a solid organization. Peer development is there mentoring. Yes,

502
00:44:28.440 --> 00:44:31.199
there's actually yes, there's a mentor
mentee program. Absolutely, I thought

503
00:44:31.199 --> 00:44:36.360
so. Yeah. And the Foundation
for MetroWest, Yes, it's one of

504
00:44:36.400 --> 00:44:42.119
about eighteen or nineteen community foundations in
the Commonwealth of Massachusetts, and I think

505
00:44:42.119 --> 00:44:47.400
there's like twenty eight communities that belong
to the Foundation of MetroWest. So it's

506
00:44:47.480 --> 00:44:53.480
providing funding for various organizations in the
forms of grants, so it could be

507
00:44:53.519 --> 00:44:58.559
for food and security. We also
I sit on the distribution committee, so

508
00:44:58.960 --> 00:45:05.519
once a year we review grant applications
and I participate on the health I'm sorry,

509
00:45:06.280 --> 00:45:12.800
arts and culture and it's really great
and I'm very passionate about the Foundation

510
00:45:12.840 --> 00:45:15.960
for MetroWest. That's very cool.
And this one I want to have a

511
00:45:15.960 --> 00:45:20.039
little fun with. We've got a
few minutes. You're a docent Boston by

512
00:45:20.159 --> 00:45:22.320
Foot, so tell people what that
is. Yes, Oh, I love

513
00:45:22.360 --> 00:45:25.480
it, so thank you for asking. So I will be I have yet

514
00:45:25.480 --> 00:45:28.519
too, but I will take you
up on this, by the way.

515
00:45:28.679 --> 00:45:32.079
Good. So Boston by Foot also
is a little bit over forty years in

516
00:45:32.119 --> 00:45:37.599
the making, and we have we
give so many tours on a weekly basis,

517
00:45:37.880 --> 00:45:45.559
and it's volunteer driven. I give
freedom trail tours and we's it's great.

518
00:45:45.639 --> 00:45:47.719
So it's about an hour long.
We start a Faniel Hall, we

519
00:45:47.880 --> 00:45:52.000
talk about events leading up to the
American Revolution, and we end up across

520
00:45:52.000 --> 00:46:00.239
the street from King's Chapel and it's
really a great group of individuals. Was

521
00:46:00.639 --> 00:46:05.480
very passionate about history. I'm sure, I'm sure. How did you get

522
00:46:05.480 --> 00:46:10.280
into that? Oh this is funny. I was taking a relative in my

523
00:46:10.400 --> 00:46:19.840
car on a a very unprofessional tour
a Beacon Hill and I saw my old

524
00:46:19.880 --> 00:46:24.760
boss giving a tour and I'm like, Charlie. Anyway, I talked to

525
00:46:24.840 --> 00:46:28.760
him afterwards He's like, yeah,
I give tours. And so that's how

526
00:46:28.800 --> 00:46:35.800
I found out about it. How
do people sign up? Boston by foot

527
00:46:35.880 --> 00:46:42.320
dot org. Yeah, and very
easy, very cool on it. You

528
00:46:42.320 --> 00:46:45.960
guys in period costume, No,
no, nope, nope, nope,

529
00:46:46.000 --> 00:46:51.119
nope, nope nope. And it's
walking tour. Boston's a walking tour.

530
00:46:51.360 --> 00:46:54.760
Yeah. We do have two architectural
tours. One leaves by boat from the

531
00:46:54.960 --> 00:47:00.519
Cambridge Side Galleria and it goes through
the locks out into the inner cover and

532
00:47:00.559 --> 00:47:04.320
then back and then heads up to
the Salt and Pepper Bridge and then there's

533
00:47:04.360 --> 00:47:09.440
a scooter cruise that leaves from the
aquarium. There's a doc right next to

534
00:47:09.480 --> 00:47:15.360
the aquarium. And so yeah,
we have two water water tours so to

535
00:47:15.400 --> 00:47:22.960
speak. Are they seasonal? Yeah, pretty much. It's April to November

536
00:47:22.119 --> 00:47:25.119
ish, okay, so there's still
time for this year. Cool? Yeah,

537
00:47:25.159 --> 00:47:29.360
all right, let's check that out. All right. One, excuse

538
00:47:29.360 --> 00:47:34.719
me? Who and why in the
audience, both listening and viewing audiences should

539
00:47:34.760 --> 00:47:38.280
reach out to you? Who should
and why should they? Huh? Okay,

540
00:47:38.320 --> 00:47:46.039
thank you for asking. I would
say anyone who has been confused by

541
00:47:46.039 --> 00:47:52.119
their insurance program. Know someone who's
been confused by their insurance program wants an

542
00:47:52.159 --> 00:47:57.480
explanation of coverage in layman's terms,
as to what does this policy cover?

543
00:47:58.360 --> 00:48:04.199
What is it intended to cover?
So that asked, That answered the why

544
00:48:04.280 --> 00:48:07.280
and the who I get. Most
of the people that we do speak to

545
00:48:07.559 --> 00:48:13.599
are those who are making the financial
decisions for either their own company or a

546
00:48:13.599 --> 00:48:21.679
place that they work. And certainly
anybody who has seen their homeowners policies insurance

547
00:48:21.920 --> 00:48:25.519
rates go up happy to talk to
them as well. So the contact information

548
00:48:25.559 --> 00:48:30.000
I know we had in the crawl
prop it up there again is Maureen at

549
00:48:30.039 --> 00:48:37.920
collaborative Dash Insurance dot com and or
sell six one seven six eight six six

550
00:48:37.039 --> 00:48:42.880
one four six six one seven six
eight six six one four six. There's

551
00:48:42.920 --> 00:48:45.719
the crawl right there, Maureen.
This has been fun. Thank you so

552
00:48:45.800 --> 00:48:49.159
much for being in. Really appreciate
the time. Thank you, I appreciate

553
00:48:49.159 --> 00:48:52.320
it. Kevin, great to see
you, you two, and thanks everybody

554
00:48:52.360 --> 00:48:57.239
for listening and for watching. This
is a show about business and business challenges.

555
00:48:57.559 --> 00:49:00.880
If you've got concerns about the growth
of your company, feel free to

556
00:49:00.920 --> 00:49:04.679
reach out to me. You can
find me on Facebook or LinkedIn at Winning

557
00:49:04.760 --> 00:49:07.039
Business Radio. You can drop me
an out. One of my many email

558
00:49:07.039 --> 00:49:12.519
addresses is Kevin at Winning Business Radio
dot com. Our company is Winning Incorporated.

559
00:49:12.519 --> 00:49:15.840
We're part of Sandler Training. We
develop sales teams into high achievers and

560
00:49:16.000 --> 00:49:21.320
sales leaders into true coaches and mentors. I always say we're not right for

561
00:49:21.360 --> 00:49:23.599
everybody, but maybe we should have
a conversation. Thank you to producing an

562
00:49:23.639 --> 00:49:27.320
engineer one for another job well done. I really appreciate it. One.

563
00:49:27.360 --> 00:49:30.960
Be sure to join us next week
that's Monday, August twenty eight for another

564
00:49:30.000 --> 00:49:35.840
cool guest. Until then, this
is Kevin Helen and thank you. You've

565
00:49:35.880 --> 00:49:38.920
been listening to Winning Business Radio with
your host, Kevin Helena. If you

566
00:49:38.960 --> 00:49:44.599
missed any part of this episode,
the podcast is available on Talk for Podcasting

567
00:49:44.719 --> 00:49:50.440
and iHeartRadio. For more information and
questions, go to Winning Business Radio dot

568
00:49:50.440 --> 00:49:53.119
com or check us out on social
media. Tune in again next week and

569
00:49:53.159 --> 00:49:58.840
every Monday at four pm Eastern Time
to listen live to Winning Business Radio on

570
00:49:59.119 --> 00:50:05.280
w four c radiowfocy dot com.
Until then, let's succeed where others have

571
00:50:05.400 --> 00:50:09.400
failed and win in Business with Kevin
Hallinan and Winnie Business Radio