Big Transamerica Meeting Today

[John Galt]

I have no idea. Just what the envelope said

Interesting, I wonder if the app is gonna be 18 pages!

 

[argar5]

I have no idea. Just what the envelope said

my friend said the career agent's W-2 agents (only). Are going to have a no charge lead system either by telemarketers or direct mail based on production. Starting with 36,000 a year of annualized premium. Plus their existing clientele will get letters once or twice a year stating to deal with their agent of service only. Debit Agent. And know other agent who works for Transamerica that's independent 1099 or part-time.

 

[jdeasy]

Pretty sure you will have to have 5 amendments signed and all dated on different days before you can be told what the meeting was about.

Then they will have to have another meeting to make sure that the signatures on the amendments all match. Then they will need an amendment to the amendment. By then they will have forgotten and will have to have another meeting.

Rinse and repeat.

 

[rousemark]

My dad has TA and he got a letter in the mail for their new guaranteed acceptance to increase his coverage. Not sure if that's a new thing?

Would bet it is the same thing AGLA did.. sent out offers for insurance directly to the insureds cutting the agents out..They will take premium out of your houses that you might could have used to sell them additional coverage yourself and thereby get paid for doing it.

 

[Rearden]

my friend said the career agent's W-2 agents (only). Are going to have a no charge lead system either by telemarketers or direct mail based on production. Starting with 36,000 a year of annualized premium. Plus their existing clientele will get letters once or twice a year stating to deal with their agent of service only. Debit Agent. And know other agent who works for Transamerica that's independent 1099 or part-time.

This is good news.

Any captive TA business I have seen has been horribly overpriced.

More inventory for us replacement artists.

 

[Baseball7]

If they are going to start selling direct to the public are people going to use the same excuse if they did for Omaha for not using that product?

 

[rousemark]

Don't know what TA has in mind but it always burns me when a company decides to direct market to clients I chose to place with them. I know companies consider the policy owners to be theirs but the fact is they would not have that policyholder if it had not been for the agent sending the business to them. I can see a captive carrier getting away with the direct marketing scheme but it would seem that independent agents would not place any more business with a company that did it..

 

[shonceman]

Would bet it is the same thing AGLA did.. sent out offers for insurance directly to the insureds cutting the agents out..They will take premium out of your houses that you might could have used to sell them additional coverage yourself and thereby get paid for doing it.

And to make matters worse, according to a friend of mine working for AGLA, they were counting the direct mail premiums as part of his book, so if they lapsed, it affected his comp somehow (complicated contract - I remember acronyms like "LRPR" or something).

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Don't know what TA has in mind but it always burns me when a company decides to direct market to clients I chose to place with them. I know companies consider the policy owners to be theirs but the fact is they would not have that policyholder if it had not been for the agent sending the business to them. I can see a captive carrier getting away with the direct marketing scheme but it would seem that independent agents would not place any more business with a company that did it..

Yeah, that was one my buddy's biggest peeves with AGLA. He ended up going over to Reliable (I tried to talk him out of it! But he needed benefits.) A couple months after he left AGLA is when they terminated all the agents.

 

[HomeService]

If sales people are not detail oriented they're in trouble.Its so important . How do I organize my leads ?Were am I working this week ? How do I incorporate referrals and call backs each week into my schedule ?How do I incorporate door knocking into my week ? Do I door knock 1 or 2 days a week with 3 days of appts or do I door knock around appts and no shows ? Even something as simple as effectively using a gps is about details . With door knocking how to effectively use the trip app on a Gps is crucial . What if I have 3 stops before I door knock 2 county's ? My appts don't start till 12 pm but I want to door knock from 8-11:30 first. How to I organize my door knocks in the best order ending up at my appt. DETAILS DETAILS. Chris Sharpe failing in the business doing $240k of ap made me realize it's not just about ap but about how you work your leads and How you sell . It's about service .I hand write a thank you note to each sale reiterating there draft date and when there policy will arrive . It cuts down big time on call backs of confusion and adds a little human touch . DETAILS DETAILS . Yes I agree Trans app is not good for new people .

just reading this and thinking about it makes my head spin, I'm a mess

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Yeah, that was one my buddy's biggest peeves with AGLA. He ended up going over to Reliable (I tried to talk him out of it! But he needed benefits.) A couple months after he left AGLA is when they terminated all the agents.

So far Reliable seems to be hanging in there somehow, or do we think this trend of closing offices might hit them sooner or later as well?

 

[shonceman]

just reading this and thinking about it makes my head spin, I'm a mess ---------- So far Reliable seems to be hanging in there somehow, or do we think this trend of closing offices might hit them sooner or later as well?

Oh, they'll close an office in a heartbeat! They closed the office I was working out of in Sherman. But they didn't terminate agents, just consolidated some of the books. Those agents work as detached out of Dallas now. But I don't see them abandoning the career agent home service model. The other debit companies were taken over by bigger companies that tried to get agents away from home service from the get-go. Kemper seems to be pretty committed to the current model.