Inside the BroadStreet $2.8 Billion Co-Ownership Model with Michael O’Connor

Host Callan Harrington sits down with Michael O’Connor, CEO of BroadStreet Partners, to break down one of the most unique models in insurance distribution. BroadStreet is the 16th largest broker in the world with $2.8 billion in revenue, yet it rarely puts its own name forward. Instead, it takes a majority stake in each core partner agency while leaving real equity with local leaders, who keep running the firm under their own brand. The conversation is candid and detailed as Callan pushes on the model from the other side of the table.This episode covers what co-ownership actually looks like in practice. Michael explains how quarterly dividends and twice-yearly liquidity events make local equity feel real, why BroadStreet will buy back shares and hold them for the next local owner, and how long-term capital removes the pressure of a three-to-five-year exit. He also shares why the model is built to attract as much as it repels. If you lead a growing agency and want to perpetuate without giving up control, this is a rare inside look.Listen now to hear how BroadStreet built a $2.8 billion firm by betting on its partners instead of its own name.[00:00] Intro[01:02] 2-time All-American at Notre Dame[03:50] The biggest broker nobody knows[04:27] Breaking down the BroadStreet model[07:00] How core partner ownership works[08:17] What local equity really means[10:01] Who fits the BroadStreet model[13:00] Expanding into specialty and wholesale[16:49] Dividends that make equity real[18:20] Liquidity without waiting for an event[20:57] Why not take parent company stock[23:18] Building trust with core partners[27:28] Leaving Aon for a different model[30:18] Driving organic growth at scale[32:48] Why competitors cannot replicate this[35:27] Long-term capital from Canadian pensions[43:43] The 10-year vision for BroadStreetConnect with Michael on LinkedIn: https://www.linkedin.com/in/michael-o-connor-8377aa92Subscribe for more tactical conversations with marketing and growth leaders in the insurance industry.The Insurance Growth Lab is brought to you by Flashgrowth, where we go deep on the growth campaigns and strategies driving real results in insurance.

Host Callan Harrington goes solo in this monthly roundup to break down what he saw and heard at ITC. Instead of chasing the obvious AI headlines, Callan focuses on three themes he picked up from direct conversations with vendors, brokers, and carriers. He shares why vendors are more aggressive than ever, why that is happening, and what it means for anyone getting flooded with outbound messages.Callan explains why relationships are proving even more valuable as AI noise grows, and why curated dinners, masterminds, and small events are where real information now flows. He also pushes back on the idea that insurance agents are behind on AI, arguing many main street agencies are adopting it as fast as anyone in the space. Along the way he digs into AI bots like Muse shopping for insurance, how carriers are responding differently, and what it could mean if ad revenue starts shaping AI recommendations. The throughline is simple. Focus on your core differentiator and automate the rest.Press play to hear what really stood out at ITC and how it applies to your business.Key topics covered:[00:00] Intro[00:36] Launching monthly solo episodes[01:42] Why insurance conferences collide[04:09] Vendors getting more aggressive than ever[05:00] The Travelers CMO ambush story[07:45] Logging sales notes with Claude and HubSpot[09:15] Why startups flood the market[10:01] How this AI company nailed booth positioning[11:42] Elite brokers getting destroyed with outbound[13:03] Why relationships matter more than ever[14:47] Agents are not behind on AI[17:21] Insure tech carriers and the disruption myth[20:03] Why brokers survive every apocalypse[20:30] AI bots shopping insurance and carrier reactions[21:53] Will ad revenue kill AI objectivity[23:22] Doubling down on your core superpowerConnect with Callan on LinkedIn: https://www.linkedin.com/in/callanharringtonSubscribe for more tactical conversations with marketing and growth leaders in the insurance industry.The Insurance Growth Lab is brought to you by Flashgrowth, where we go deep on the growth campaigns and strategies driving real results in insurance.

Host Callan Harrington sits down with Troy Kemelgor, Managing Partner at Northwestern Mutual in Columbus, to break down a 19-year turnaround story. Callan was there at the start as a producing agent, which makes this a rare inside look at how Troy took over the #78 office out of 82 and rebuilt it from the ground up. They cover the hard decisions, the mistakes, and the discipline it took to grow revenue from $3.2 million to $26.4 million.Troy explains why he stripped the organization down to the studs, cut every side deal, and reset expectations from day one. He shares the humbling lesson of setting goals far too high and how he had to change as a leader at each stage of growth, from being in the trenches to running a small, large organization. Callan and Troy also dig into financial strategy, including how Troy used debt, delayed gratification, and careful cash flow planning to fund expansion while the 2008 crisis hit. The conversation closes with practical advice for new managing partners and a clear picture of what Troy wants his legacy to be.If you care about building something durable and leading through change, this one is worth your time.Key topics covered:[00:00] Intro[01:42] Walking into a failing office[03:00] Stripping the organization to studs[04:40] Building infrastructure from scratch[05:29] Surviving the 2008 financial crisis[07:24] Why insurance is activity driven[09:03] Cutting side deals and purging talent[10:22] Setting goals way too high[13:04] The humility of admitting failure[15:06] Becoming the leader your team needs[20:52] Doubling down with debt and leverage[27:50] Getting addicted to growth[30:16] Balancing insurance and investment growth[34:45] Managing a 180 person team[44:05] Advice for new managing partners[47:16] The 10 year succession visionFollow Troy on LinkedIn: https://www.linkedin.com/in/troykemelgorSubscribe for more tactical conversations with marketing and growth leaders in the insurance industry.The Insurance Growth Lab is brought to you by Flashgrowth, where we go deep on the growth campaigns and strategies driving real results in insurance.

Host Callan Harrington sits down with Scott Denbo, CEO of Commercial Insurance Associates, to break down one of the boldest moves in the independent brokerage world. Scott shares how his firm recapitalized the business, bought down producer compensation from 50/50 to 40/40, and converted that reduction into equity to add 12 new owner producers. The conversation is honest, tactical, and often funny as Scott walks through what actually happened when the plan went live.This episode covers the messy reality behind a major structural change. Scott explains why a firm growing nearly 30% a year still needed to fix a long-term perpetuation problem, how he convinced a stubborn board including his own father, and what it felt like to lose 15 producers and $9 million in revenue overnight. He also shares how the firm rebuilt trust, professionalized its finances, and returned to strong growth by year three. If you run an agency approaching $30 million and wonder how to perpetuate without selling, this is a rare inside look.Listen now to hear how Scott turned a painful decision into a foundation for the next decade of growth.Key topics covered:[00:00] Intro[00:53] Why this recap story is unique[01:27] Living through a real car claim[02:37] Selling insurance value to clients[05:11] CIA growth rankings and revenue[06:14] The recap that changed everything[07:38] Producers as the highest paid[07:47] The looming perpetuation problem[10:56] Why the old plans failed[14:00] Discovering the buy down strategy[16:01] Convincing a bulldog founder[17:51] Why they refused to sell[21:31] Rolling out the plan to producers[24:17] Losing 15 producers overnight[27:06] When it clicked as right[31:15] Building a 24-year-old startup[36:41] Equity as generational wealth[39:07] Advice before you recap[42:36] The 200 million dollar visionConnect with Scott on LinkedIn: https://www.linkedin.com/in/scott-denbo-55156a2Subscribe for more tactical breakdowns from marketing and growth leaders across carriers, insurtech, and top brokers.The Insurance Growth Lab is brought to you by Flashgrowth, where we go deep on the campaigns and strategies driving real results in the insurance industry.

Callan Harrington sits down with Seth Zaremba, CEO of b atomic and ZINC Insurance, to break down how he built extreme efficiency into an insurance agency and turned it into industry-best margins. Seth is one of the most resilient entrepreneurs in the space, and he opens up about the reality of holding your breath through the hard times as a founder.Seth explains how he reduced insurance operations to their smallest processes, measured the cost per transaction, and used that data to reshape how his team worked. He shares why hiring more people was the wrong answer, how he moved retention from 87 to 94% during the pandemic, and how separating service from process freed his people to do more valuable work. He also walks through the b atomic journey, the failures that came before the breakthrough, and why service automation became the real product. This conversation is packed with practical thinking on efficiency, change management, and why relationships will matter more than ever as AI automates the rest.Listen now to learn how to build an agency that survives and wins in the years ahead.Key topics covered:[00:00] Intro[01:12] What it means to hold your breath[02:43] Why your spouse is your biggest shareholder[04:43] From 87% to 94% retention[05:39] Driving extreme efficiency into an agency[07:22] The 29 processes hidden in every agency[09:25] Measuring cost per transaction[11:13] Moving tasks to cut costs fast[14:04] Why employees earned 13.8% more[15:04] Speed and accuracy win customers[17:37] How the valuation flipped[20:01] Change fatigue and leadership mistakes[24:53] Getting teams past inertia[26:03] Why the old agency model is broken[29:52] The b atomic cookie recipe[33:49] Inside the service automation platform[38:12] Advice for top 100 agencies[42:46] Why knowledge workers are the new black[43:50] Betting big on relationshipsConnect with Seth on LinkedIn: https://www.linkedin.com/in/seth-zaremba-8461805Subscribe for more tactical breakdowns from marketing and growth leaders across carriers, insurtech, and top brokers.The Insurance Growth Lab is brought to you by Flashgrowth, where we go deep on the campaigns and strategies driving real results in the insurance industry.

In this episode of The Insurance Growth Lab, host Callan Harrington sits down with Jeff Wilcoxon, Senior Strategy and Corporate Development Principal at VIU by HUB. The two dig into a new VIU by HUB survey that found 88 percent of policyholders want their provider to proactively flag when coverage no longer fits their life, while 56 percent have not heard from their provider in over a year. Jeff explains why the industry has focused so heavily on the sale and neglected everything that happens after.Callan and Jeff break down how VIU by HUB adds 1700 households a week and still delivers proactive advice by combining automation with skilled human agents. They cover the spectrum of embedded insurance, why choice backed by more than 100 carriers matters to partners, and how VIU builds loyalty to the brokerage rather than a single person. Jeff also shares how he evaluates digital agency acquisitions and where AI actually adds value, from agent training to freeing up time for real advice.Listen now to learn how proactive service and smart technology are reshaping the way insurance gets sold.Key topics covered:[00:00] Intro[01:10] The Sanibel Island insurance gamble[03:36] Inside VIU by HUB explained[04:43] Why 88% want proactive coverage advice[05:58] The industry's dirty retention secret[06:47] Building profitable post sale service[09:32] Life triggers that prompt outreach[13:36] Predictive data versus reactive alerts[16:13] Choosing digital or human outreach[17:41] Loyalty to brand not agents[19:34] The spectrum of embedded insurance[21:41] Why choice beats single carrier programs[27:24] Will AI replace the broker[29:41] Evaluating digital agency acquisitions[33:38] Where deals fall apart on valuation[38:05] AI investment that empowers agents[44:27] The insurance experience in 2036Follow Jeff on LinkedIn: https://www.linkedin.com/in/jeffwilcoxonSubscribe for more episodes where we break down one specific growth initiative at a time with the leaders behind it.The Insurance Growth Lab is hosted by Callan Harrington and brought to you by Flashgrowth.

Callan Harrington sits down with PJ Cannon, Regional Managing Director at Henderson Brothers, to break down how he recruits and builds high-performing insurance teams. PJ traces his approach back to his college football recruiting days at Wisconsin and explains how attention to detail and making people feel valued shaped the way he attracts talent today.The conversation digs into the tactics behind building a new office in Columbus from scratch, including how PJ leverages centers of influence, hosts strategic networking events, and uses golf to build genuine relationships that turn into clients and hires. He also shares his interview process, why he screens for vulnerability, and the teaming model he is building to develop new producers while freeing top performers to grow. If you want practical ideas on recruiting, retention, and launching in a new market, PJ delivers real detail you can put to work.Listen now to learn how PJ Cannon turns relationships into a repeatable growth engine.Key topics covered:[00:00] Intro[01:15] Lessons from college football recruiting[02:20] Use them don't let them use you[03:39] Dialed in recruiting processes revealed[04:00] Album covers and buzz for candidates[07:00] Where to find top talent[07:52] Turning advisors into recruiters[09:43] Keeping referral programs alive[10:33] Building powerful centers of influence[11:22] How to build your network fast[12:52] Golf course networking strategy[13:54] Care first sell later approach[16:57] The vulnerability interview technique[20:04] Beating high turnover with teaming[23:48] Freeing top producers to grow[27:04] Launching Columbus from scratch[29:57] Hosting events that drive relationships[33:14] Scaling to 100 million in revenue[34:20] Advice for opening a new office[36:00] Leadership legacy and helping people winFollow PJ Cannon on LinkedIn: https://www.linkedin.com/in/pjcannonnorthwesternmutualSubscribe for more conversations on the growth strategies driving real results in insurance.The Insurance Growth Lab is brought to you by Flashgrowth where we go deep on the campaigns and strategies behind real growth in insurance and insurtech.

Callan Harrington sits down with Alex Frommeyer, Founder and CEO of Stack Health, to break down the future of small business health benefits. Alex previously founded Beam Dental, which he started in his dorm room and grew to over $175 million in premiums before its exit to Principal. Now he is tackling what he calls the core problem in healthcare: benefits organized around the employer instead of the individual.Alex explains how ICHRA plans shift employers from defined benefit to defined contribution, giving employees the freedom to choose their own coverage, doctors, and health systems. He walks through why this lets brokers go on offense instead of defense, which types of businesses are adopting it fastest, and how Stack routes unused dollars into HSAs so employees never leave money on the table. The conversation then turns to how Alex is building an AI native company using a slower, smaller, and senior approach to hiring, and why he believes this is good news for young workers and small businesses alike.If you work in benefits or run a small business, this one is worth your time.Key topics covered:[00:00] Intro[01:38] First time running out of money[03:22] Choosing the insurance deck gamble[04:41] The pitch that changed everything[07:12] Beam's exit by the numbers[08:11] Why benefits are broken[10:23] Organizing risk at the wrong layer[13:15] Individual coverage for baby delivery[15:18] What an ICHRA plan is[18:30] Turning leftover dollars into HSA savings[22:15] Brokers going on offense[25:59] Why brokers still profit here[28:44] Best businesses to target[30:52] How ICHRA strengthens the ACA market[33:31] Building slower smaller senior[39:25] Why AI won't kill jobs[44:22] The 10 year vision for stacking[49:14] Advice for future entrepreneursFollow Alex Frommeyer on LinkedIn: https://www.linkedin.com/in/alexfrommeyer/If you found this useful, subscribe for more tactical breakdowns of the growth strategies working right now in insurance.The Insurance Growth Lab is brought to you by Flashgrowth, where we go deep on the campaigns and strategies driving real results for carriers, insurtechs, and top brokers.

In this episode of The Insurance Growth Lab, host Callan Harrington sits down with Jeff Cohen, Senior Vice President at Zywave, to break down how data separates transactional agents from true advisers. Jeff has spent over 20 years building two powerful datasets, an insurance program benchmarking database and a library of more than 1 million verified loss events. He explains why benchmarking answers what everyone else is doing while loss data answers why they do it.The conversation digs into the gap between what a carrier pays on a claim and the actual economic loss a business absorbs, a difference that can shut a company down. Jeff and Callan explore how AI is leveling the playing field for smaller agencies, why Zywave built an MCP layer to connect its tools with platforms like Claude, and the critical distinction between efficiency and productivity. Jeff also shares what he believes will never change in insurance, from relationships to consistency, and the advice he would give his younger self.If you want to understand how data, AI, and relationships shape the future of insurance sales, this episode is worth your time.Key topics covered:[00:00] Intro[01:14] Building a 20-year insurance database[04:38] How benchmarking guides coverage decisions[05:47] Why loss data beats claims data[07:20] The gap between payouts and true loss[09:27] Mining 1 million verified loss events[11:05] Becoming a trusted adviser with AI[12:32] Leveling the field against big brokers[15:14] What AI can't replace in advising[18:27] Closing the economic loss gap[21:57] Efficiency versus productivity gains[26:29] How agents differentiate in an AI world[32:01] What won't change in insurance[34:32] Why relationships drive real value[37:46] The power of owning your niche[40:32] Advice for his younger selfFollow Jeff Cohen on LinkedIn: https://www.linkedin.com/in/jeffreymcohenIf you found this useful, subscribe for more tactical breakdowns of the growth strategies working right now in insurance.The Insurance Growth Lab is brought to you by Flashgrowth, where we go deep on the campaigns and strategies driving real results for carriers, insurtechs, and top brokers.

Host Callan Harrington pulls together some of the best cross-sell moments from top insurance agencies on The Insurance Growth Lab. Featuring Chris Paradiso, Eric Roberts, and Clinton Houck, this episode breaks down exactly how elite agencies grow policies per customer and treat retention as the foundation of everything.Chris explains why emails are for information and phone calls are for communication, and why calling every client each year beats any shortcut. Eric shares his detailed renewal journey, the needs-tagging system his team uses, and a simple 5-step method to close every client call. Clinton then reveals how auto warranty works as a natural cross-sell that fits right into the insurance conversation without competing with your existing book.If you want a clear playbook for cross-selling and retention from agencies that actually track the numbers, this episode is worth the listen.Key topics covered:[00:00] Intro[00:31] Why elite agencies track policies per customer[01:49] Real growth starts with retention[01:56] Emails for information phone calls for communication[02:14] Turn a dog into an umbrella sale[03:10] Why calling every client wins[03:48] The hidden cost of monoline policies[04:47] Doubling policies per household system[05:20] Building a simple renewal journey[06:07] The GVGEC close framework[06:50] First step to start cross-selling[08:23] Why producers resist new products[08:48] Auto warranty as a cross-sell cheat code[09:55] Selling warranty as an endorsement[11:08] Beating the warranty stigma[12:00] Finding complementary products that convertFollow The Insurance Growth Lab for more conversations with marketing and growth leaders across the insurance industry.Subscribe for weekly breakdowns of the campaigns and strategies driving real results in insurance.