Agency Intelligence

In this episode of Power Women In Insurance, Teresa Kitchens sits down with Carey Wallace, a financial expert. Carey helps agency owners run a profitable business and be ready for future endeavors. Episode Highlights: Carey shares her story and how she got into the insurance industry. (1:55) Carey explains that there's no formal training when you become an agency owner, which makes it intimidating. (6:41) Carey shares that agency owners have to know a lot about other businesses to underwrite and cover the risk. (8:55) Carey elaborates on the things she does to help agencies get through the process emotionally and mentally. (12:30) Carey explains that EBITA is a measure of any business's true profitability. (17:00) Carey shares that she has been doing valuations for years now, and about 95% of the agencies wanted to transition internally and plan for it. (24:05) Carey explains that putting a perpetuation plan in place is very important in preparing to run an agency. (28:31) Carey talks about th