IAM251- Health Insurance Agent and Podcaster Helps Families and Businesses with Financial Protection

Lorena Tomasini is the owner of MALM Life and Health Insurance Agency located in Miami, Fl. Been in the insurance industry for twelve years and part of a mother-daughter duo helping other families and business owners with financial protection. She is also the host of “The twelve-minute” podcast where she interviews other business owners and entrepreneurs about how they help solve problems.

• CEO Hack: Focusing more on the activity rather than the outcome
• CEO Nugget: (1) The key to success is in the follow-up (2) Send people thank you cards (3) Be organized and have processes in place
• CEO Defined: Problem-solver and being able to do different things

Website: https://www.malmins.com/

Facebook: www.facebook.com/malmins22
Instagram: www.instagram.com/malmins22
Twitter: www.twitter.com/malmins22
LinkedIn: www.linkedin.com/in/lorenatomasini

Full Interview

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Transcription:

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Intro 0:02

Do you want to learn effective ways to build relationships, generate sales and grow your business from successful entrepreneurs, startups, and CEOs without listening to a long, long, long interview? If so, you've come to the right place. Gresham Harkless values your time and is ready to share with you precisely the information you're in search of. This is the I AM CEO Podcast.

Gresham Harkless 0:27

Hello, hello, hello. This is Gresham from the I AM CEO Podcast and I have a very special guest on the show today. I have Lorena Tomasini of MALM. Lorena, it's awesome to have you on the show.

Lorena Tomasini 0:36

Awesome. Thank you so much for having me.

Gresham Harkless 0:38

No problem. Super excited to have you on and what I want to do is just read a little bit more about Lorena so you can hear about all the awesome things that she's doing. And Lorena Tomasini is the owner of MALM, a Life and Health Insurance Agency located in Miami, Florida. Being in the insurance industry for 12 years, and part of a mother-daughter duo helping other families and business owners with financial protection. She's also the host of the 12 Minute Podcast where she interviews other business owners and entrepreneurs on how they help solve problems. Lorena, are you ready to speak to the I AM CEO community?

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Lorena Tomasini 1:09

I'm excited. Yeah, let's do this.

Gresham Harkless 1:10

Awesome. Let's do it. So the first question I had was the hear a little bit more about what I call your CEO story. What led you to start your business?

Lorena Tomasini 1:17

Sure. So back in 2006, I was studying business administration in college, and I was looking for something to do that had more flexible time than the regular nine to five. And my mom needed some help in her business at the time, and I didn't know my mom was an insurance agent, to be honest. And so I started as her appointment setter.

And then I went with her to one of the appointments I had set up for her to see what it was that she did, you know, and since then I thought it was something easy that she did you know, she helped families and it was just filling out paperwork. So I then decided to get my license. And ever since then, we've been working together doing that. So I do have a degree in finance, but I have had my own business since 2006. With my mom.

Gresham Harkless 2:07

Nice, nice, nice. That's no that's an awesome story and being able to work with your mom and learn from, you know, everything that she's been able to do and also be able to start out from the bottom up. It sounds like starting out with an appointment setting. And now I'm actually helping out families yourself. So I know you've touched on a little bit of it. So could you talk a little bit more about what you're doing with the mom?

Lorena Tomasini 2:24

Sure. So what we do is we help families and also business owners with financial protection. And that can be anything from health insurance. And then also life insurance as well, you know, if somebody passes away, obviously to have some income replaced. And then on the individual side, as well as in case of a critical illness or chronic illness like cancer, heart attack, or stroke.

People can also use part of that death benefit while they're living to help them pay for their regular bills. And then with business owners, we help them out with group plans for their employees like health and critical illness. And then we also help the employer with tax-deductible life insurance so they can use it to supplement their retirement income in the future tax-free.

Gresham Harkless 3:09

Nice, nice, nice. And I hear I always hear and I don't know if you can definitely speak to this, that a lot of times, you know, people aren't prepared for those sometimes big catastrophes that happen in our lives, whether it be health or deaths, and a lot of times because they're not prepared for it, it can sometimes be catastrophic to individuals, but also to businesses I imagined to

Lorena Tomasini 3:27

Definitely. So one of the things, you know, Facebook with see a lot is like Go Fund Me pages. And I think that's great. But to me, that's kind of like the modern-day passing a hat around the church, you know, because unfortunately, that family wasn't financially prepared. And that's exactly what these products are there for.

So that if that does happen, the family doesn't have to go around asking people, you know, strangers, basically for help with that. And it's really about taking financial responsibility, you know, we don't really realize the financial impact that just a diagnosis of cancer, for example, has not only on that person but on the family. Because nowadays with all the advances in medical treatments, right, a lot of times people survive them both financially, we're not really ready for what that would mean, sometimes families have to take time off work to help the person going through that.

And the person that was diagnosed as well. I always if somebody's like a teacher, as an example, you can't go teach your regular job and then go to chemo or vice versa. So these products, what they really do is help people be prepared financially if something does happen, that that they don't have to worry about, man, how am I going to pay my mortgage this month? Or, or the electricity or stuff for the kids, right? And then yeah, hopefully, they will survive that but they'll be left off better financially than maybe they were before.

Gresham Harkless 4:52

Yeah, absolutely. And no, that's a great point, especially with all these advances in technology and health and everything. A lot of times you No, those illnesses are things that would happen, someone would pass away. But now, you know, people are living, as you mentioned, there are so many other variables that you don't think about, like, you're not going to be able to go to work, the person who's taking care of you may not be able to go to work to and all those things start to kind of, you know, hit the financial aspect of families and couples and everybody that's involved in that.

Lorena Tomasini 5:19

Definitely, especially because unfortunately, nowadays, many people don't have much in their savings. And maybe you had those savings set aside for something else, you know, a vacation, or something else. So that's why these new life insurance policies, have living benefits built in, it doesn't cost much more than a traditional policy. But it's certainly something to have included because you never know what might happen. Right? That unfortunately, you know, it's, it's part of life. We're not overboard.

And eventually, we're going to pass away someday. But it's also planning about planning what happens along the way to be prepared for anything that might happen, whether good or bad, right?

Gresham Harkless 5:59

Yeah, it's always about beginning with the end in mind, and we all will have the same. And so it's important to kind of understand that and take the steps for yourself, but also for your loved ones and your family that's around and I wanted to ask you a little bit more about what I call it like your secret sauce. And this could be what you feel distinguishes you or your organization. But what do you feel kind of sets you apart?

Lorena Tomasini 6:16

Sure. think that one of the things that set my agency apart from others is, we actually do everything virtually. So we have what we call a 3d process. And it's basically we first define what it is that the individual or the business is looking to solve. We do this via phone or video chat, like how we're doing now, however, the person feels more comfortable. So after that, as a professional, I'm a broker.

So I represent different insurance companies to find the exact solution, the best solution for the individual family or the business owner. And then third, what we do is we send out a video call, where we go over all the different options available and explain all the details. And then from there, it's up to the person to decide, you know, what, what they want to do if they want to look at different options, and then we do electronic applications.

So that makes it very simple for the person as well. The reason we do this, you know, we I've been doing this for 12 years, and my mom even longer since 1980. So between both of us a lot of years of experience, but we know what it's like showing up at someone's house at seven, eight o'clock at night. And they're like, oh, man, I forgot you were coming today. And then we clean the table here.

So you can say, you know, so it's for the client is kind of like, oh, okay, it's, it's more convenient for them to watch a video called since we're so used to video. And then the other good thing is a lot of times to say, oh, I can meet this day because my spouse won't be there or my business partner will be there. So with the video, you guys can watch it on your own time, or no, that might be at three in the morning for you. I'm not going to be at someone's house at that time.

So it's definitely very convenient for everybody. And then for my business has been great because I've been able to expand not just locally here in Miami, but the entire state of Florida where I am licensed. So helping more families.

Gresham Harkless 8:12

Yeah, that's awesome. And I love the 3d process, I definitely want to take that in this day and age with so much technology is huge to be able to do that. And I definitely agree with you, I will not be at anybody's house at 3 am Other than my own.

So it's very important that you gave people the opportunity to look at everything at their own convenient time. So definitely appreciate you sharing that with us. And of course, I'm sure your clients appreciate that as well. And I wanted to switch gears a little bit and ask you for what I call a CEO hack. And this might be an app, a book, or a habit that you have, but it's something that makes you more effective and efficient

Lorena Tomasini 8:43

So recently, I went to the TEDx conference here in Miami. I'm sure you've heard of him. Yeah. How was that? Oh, you were there?

Gresham Harkless 8:53

No, I heard about it. I was thinking about going.

Lorena Tomasini 8:55

Okay. Okay. So here, Miami, he posted like billboards all over the place, you know, so you couldn't really miss out on it. And so I went to that event. And then I listened to his book. And it was interesting, what he was talking about was basically, if I think I need to make 100 calls to achieve one sale, well, you really need to maybe do 10 times that amount.

So I would say, my secret sauce as a CEO would be not to focus so much on the outcome, but more on the activity that I can control, like I can control every day calling 50 people or whatever the case may be right following up and doing everything I need to do daily to achieve the goals I want. At the end of the month or, or the quarter, right?

Gresham Harkless 9:43

Yeah, no, I absolutely love that. And, you know, it's the one thing you can control. You can sometimes control all the outside influences, but you can control your activity and the effort that you put in and it's funny I read something similar and I think the book was called Fanatical Prospecting and it kind of you know, it's stuck with me just like that stuck with you where I think the person was like, if you make a sale out of every 100 calls, you have to reset that.

So when you make 100 calls and you get one sale, then you gotta get another 100, you don't get to start out from the 99. So you have to start all the way over. So it's important to kind of remember that, you know, in the process, and yeah, I'm glad you reminded us that. Yeah. And now I want to ask you for what I call a CEO nugget. And this is a word of wisdom or piece of advice. Or if you can happen to be a time machine, what would you tell your younger business self?

Lorena Tomasini 10:30

I would say the key to success is really in the follow-up a lot of times as CEOs or salespeople, right, we think that, okay, we made this contact, and then it's great, we should be able to close it on the first attempt of introducing somebody to who we are. But that's not reality, people need to get to know you more, trust you. Right, that I think that's the most important thing, trust, and sometimes, depending on the person, right, some people will be that one, touch close.

And some others might be the fifth or sixth attempt. But definitely, book in your calendar or your CRM, whatever you use, and follow to make sure that you're top of mind for people. And the other advice I would suggest is always to send people thank you cards, whether it's, you know, they gave you a referral, or they're a new client. It's something that people don't really do nowadays, and people really appreciate getting something handwritten from somebody. So that's always something good to add.

Gresham Harkless 11:29

Yeah, I would definitely, you know, agree with that, especially in this day and age, when nobody ever does it, that's one of the best ways you can kind of break through the noise is to do that. And, you know, following up is definitely key, because a lot of times it takes, you know, seven or eight touches before somebody even becomes a client, let alone, you know, after the process after you send in the proposal and all that. So a lot of times the people that I follow up with are the ones that end up having this success. So being organized. And having that in place is absolutely huge. So I would agree with that.

Lorena Tomasini 11:56

A lot of times in today's society, we're used to like instant gratification. Yeah. So then we're not used to Okay, well, this might not be so instant, you know, it's depending what it is that you're selling really like everything, but definitely have processes in place to for you to be successful.

Gresham Harkless 12:13

Yeah, and it's definitely you're exactly right. Like you know, instant gratification, I think a lot has to do with social media. But a lot of times you post something, you see how many likes, you get instantly right there. And we've kind of become addicted to that, but not realizing that relationships actually take time. And whether that be clients or referral partners or whatever it takes time to kind of build that. So yeah, it definitely is not a sprint, it's actually a marathon.

Lorena Tomasini 12:37

Definitely knowing in your business, what is key performance indicator KPIs, as they call it because it might be different, like for me, you know, if I get 20 people liking something, that's great. But what really matters is if somebody actually reaches out, you know, sends me a message or gives me a call, I'm gonna consider that more valuable than if I got, you know, 20 or 100 likes on a picture.

Gresham Harkless 13:02

Exactly where they say that likes never paid anybody's bills. Anybody dude? I definitely agree with that. And you know, those are a lot of times vanity metrics, and they don't actually move the needle as much as people think sometimes those are more branding pieces. Sometimes they you know, depending on as you said, your KPIs, your strategy, just understanding what that is. But remember that you're in business, to be able to continue to grow your business, help more people, and understand that I mean, net likes don't necessarily translate to that.

Lorena Tomasini 13:30

Right.

Gresham Harkless 13:31

Awesome, awesome, awesome. And now I wanted to ask you my absolute favorite question, which is the definition of what it means to be a CEO. And we're hoping to have different quote unquote, CEOs on the show. So, Lorena, I want to ask you, what does being a CEO mean to you?

Lorena Tomasini 13:42

For me? And that's a great question. Well, for me, being a CEO means wearing different hats, whether that's marketing, sales, HR, or sometimes, you know, interviewing people, and I'm definitely having a habit of not being a complainer, but a problem solver. Like I can see something's not working. And, you know, it's human nature to complain, right?

Complain for five minutes about it, but then switch on my problem-solving path, because there's no point in complaining and not doing anything to solve it. So definitely being able to do different things. Because if you're a CEO, that's what it means. Whether you're in a big company or a small company, you have to have your hands in different pockets, like they say

Gresham Harkless 14:27

Yeah, absolutely. And I would definitely agree with you, like you said, it is you know, human nature. Sometimes when frustration happens, it's hard not to be frustrated. But it all depends on how long you're frustrated because if you hold on to it for a year, then that's going to be a year that you lost when you could have been working on something else and putting that energy elsewhere.

So I definitely would agree with that. So, Lorena, I appreciate you for taking some time out. What I want to do is pass you the mic so to speak, just to see if there's anything additional you can let our readers and our listeners know and how they can get a hold of you and of course listen to your podcast.

Lorena Tomasini 14:55

Definitely. It's been great being on your show. Very good questions here. I would like to extend the offer I provide everybody which is a free financial protection review, we go over a few basic questions to discover what are your needs when it comes to financial protection, which ranges anywhere from health insurance, life insurance, retirement, and so on.

We're ready to tell you something to you. This is no obligation but at least it'll give you an idea of where you stand and you can stalk me on social media by following my handle it's @malmins22. You can also call me or text me you know, regular business hours nine to five Eastern time 786-236-1792. Thank you.

Gresham Harkless 15:43

No problem. Thank you and no 3 am texts either. So make sure to make sure to have all those links and information in the show notes as well. But I appreciate you and your mom for, you know building everything you have built and taking the time you have today and I hope you have a phenomenal rest of the day.

Lorena Tomasini 15:59

Thank you, and have a good day.

Outro 16:01

Thank you for listening to the I AM CEO Podcast powered by Blue 16 Media. Tune in next time and visit us at iamceo.co I AM CEO is not just a phrase, it's a community. Be sure to follow us on social media and subscribe to our podcast on iTunes Google Play and everywhere you listen to podcasts, SUBSCRIBE, and leave us a five-star rating grab CEO gear at www.ceogear.co. This has been the I AM CEO Podcast with Gresham Harkless. Thank you for listening.

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