The Producer Dashboard Story

Millang Financial Group, LLC

It began on June 1st, 2008 when my wife was 6 months pregnant with our first child. I invested 10 years building a retail agency with my name on the door. We marketed specifically to pre and recent retirees and grew the business by recruiting/ training/ developing neophyte producers into the industry. We generated 1/3 of our revenue from Medicare products, 1/3 from Life Insurance and 1/3 from Indexed Annuities and Fee-Based business (and about 5% from P&C.)

The Suite

Along the way I had some technology developed to manage the operation. It handled lead vendor integration and CRM, sales cycle processes and reporting from prospecting activities to commission accounting management- as our producers we're all License-Only Agents. It really worked for us to create efficiencies when we were limited with staff.

Retirement Protectors, INC

  • Around the company's 11th anniversary, I finally had reached a point where I had hired and developed enough staff to delegate all of my day to day activities. I refreshed our branding and was excited about the future- so naturally, that's when each of my producers decided to either move out of town or quit. I was able to buy out the vested recurring revenue from everyone and half the equity from two commercial properties I bought with my top rep.
  • I was left with $1MM in office buildings, a business that had 5,000 clients (I thought) generating $500k in recurring revenue, a great staff, and zero new business revenue. Although the brain damage I received from managing green pea commission-based insurance salespeople for a decade had begun reversing- I needed to figure out a new way to grow the business.
  • To manage all of the existing clients that I now had 100% ownership for servicing- I knew we needed an innovative strategy. I hired and developed specialists to manage the Fee-Based/ P&C clients, Life & Annuity blocks of business and our Medicare PDP/ MAPD/ Med Supp books. We subscribed to technology platforms to aggregate and manage the specific product lines, audited data from our internal platform against the carrier’s information and set course to deliver a Proactive Service Model experience for our clients.
  • After the initial audits of each line, we realized a couple glaring truths about our recurring revenue streams- our tiny P&C Agency and modest Fee-Based Practice had 95%+ year over year persistency and our 10X LARGER Medicare business had a 50% four year retention rate. Turns out the 4k health insurance clients we thought we had in this space was only 2k. Wait. What?! I dug deeper to identity the following trends:
    • TECH: P&C/ Fee-Based had existing software platforms to aggregate the data from all carriers for existing accounts AND generate new quotes across strategies.
    • SERVICE: Rather than customer service being managed by an inexperienced new producer (and dozens of inactive former producers) in the case of our Medicare business- P&C/ Fee-Based was managed by an exclusive, experienced, professional who had ownership in each client relationship and account. This allowed for the Proactive Service (scheduled, regular reviews and recommendations for changes when needed) and Reactive Service (typical servicing, changes, etc) processes to operate at a high level.

I knew that if I had these challenges with my agency and personal practice- everyone else must have them as well. I reached out to relationships I had with Producers, Agency Owners and large national Independent Marketing Organizations (IMOs) to discuss the issues – my concepts were quickly validated. The time was now to change direction and become a B2B firm.

The Producer Dashboard Suite

Our market is IMOs/ Agencies/ Producers across the US. The entire platform is fully customizable down to the module level and/or White-Labeled for strategic partnership opportunities. We have pioneered a lucrative revenue share model that is ideal for generating new recurring revenue streams for participating IMOs and ambassadors.

  • ProDash is a cloud-based solution for servicing existing client accounts across all senior market products- Med Supp/ MAPD/ PDP/ Final Expense/ Hospital Indemnity/ Dental/ Vision/ Hearing. It features integrations of data sources from your existing CRM for client information and Carriers to tie in account information. It allows for quoting and eApp capabilities and provides monthly future rate change notices for all Med Supp Carriers in each of the 50 states- in one unified platform.
  • ProDash+Service is a White-Labeled customer service solution that allows you to enjoy instant scale in your practice or agency. Proactively and Reactively providing customer service for your clients, on your behalf, using your existing branding. With a dedicated team, toll-free number, e-mail and communication system to keep you informed and provide analytics- your clients will experience another level of value due to your relationship with them. Allowing you the time to aggressively grow your business, or just golf more.
  • ProDash+Partners is a Life/ Annuity/ Medicare IMO, licensed in all 50 states. Providing enhanced comp levels and service for independent producers and agencies as well as "bolt-on" capabilities for IMOs to safely and efficiently enter the market in a non-core product line.
  • ProDash+Market is a marketplace for all IMOs, Agencies and Producers nationally, who are affiliated with the Producer Dashboard Companies, to receive an annual valuation, written succession plan and market for buying or selling businesses. As a seller, using the data and analytics available via ProDash- we can provide a confidential, executive summary of your business for buyers to expedite the due diligence process and expand your market of potential suitors.

Our all-star team is ready to serve you, your producers and retail clients. Please contact us for more information about how we can help you level up today!