Carrier Reps - Most Worthless Humans on Earth - CUTTING THEM OFF

[BlockO]

call me BlockO or bucko ... I don't care.

my name happens to be Dan, but 1/3 of my old time clients still call me "Dean", which is my dad's name who ran this business for 20 years before I took over.

call my office number and call me "Dan" or "Dean", I won't care. I answer to both. I'm very used to it, and proud enough of my dad that it doesn't bother me in the least.

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And I will agree with what he's saying, although the main point is bonuses that could translate into more money.

Bonuses have very little to do with the value of reps. that's only a small part of it. a smart rep can tell you where the hot markets are. that's where the real money is. the bonuses are just topping.

the most profitable advice I ever received from a rep was something along the lines of: our company X is drastically lowering premium in state Y on product Z, to obtain more marketshare.

 

[GXR2]

I don't appreciate reps stopping by without an appointment and expect me to drop what I'm doing. I think it's a bit disrespectful to take more than 15 min if unannounced.

That said, sales is about relationships, and you never know when you may need a relationship, so I never burn any.

I just tell them nicely ... "I've got a client to call. I only have about 10 min to spare". Knowing that they can usually condense 30 min of their pitch into 10 min.

As a side note regarding relationship building... I saw on 20/20 a show about this undercover cop who infiltrated a mob ring by posing as an Italian gankster - He was actually Latin!. After about a year he was offered the highest ranking order in the mob ring by the top boss. A position very few if any achieved. You had to be completely trusted.

He said the way he got there is because everyone in the"Family" liked him. His method was simple .. He complemented his cohorts constantly made them feel special and liked ... For example he would say stuff like in his best Italian mob accent.. "Hey Tony, how ya do'n? Is that a new suit? Man you look sharp. What? Ya working out or something? You"re looking good man keep it up"!. He would do the same no matter if he liked the guy or not.

Of course that manner of speaking my not be appropriate for an insurance salesman but it's a good point.

You kill people with kindness and they will bend over backwards to help you, and also referr you.

You don't have to give people your time if you don't have it to spare, but bow out in a flattering way.

 

[Italianik]

So I think that Shawn said it best a while ago- its your schedule so you need to own it.

I try to tell my reps 8am meeting and we have X amt of time. Before I would say 11, then they would run late, want to grab lunch, so on, and its 4:30- they are walking out and I have a tons of crap on my desk to do and lost my golden hours.

They are just doing their jobs, they usually have to show they are 'checking in.'

Unfortunately some are better than others.... some can't sell, motivate or manage. So- just take the meeting and keep it moving. Its not that serious. LOL

 

[Matt37]

call me BlockO or bucko ... I don't care.

my name happens to be Dan, but 1/3 of my old time clients still call me "Dean", which is my dad's name who ran this business for 20 years before I took over.

call my office number and call me "Dan" or "Dean", I won't care. I answer to both. I'm very used to it, and proud enough of my dad that it doesn't bother me in the least.

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Bonuses have very little to do with the value of reps. that's only a small part of it. a smart rep can tell you where the hot markets are. that's where the real money is. the bonuses are just topping.

the most profitable advice I ever received from a rep was something along the lines of: our company X is drastically lowering premium in state Y on product Z, to obtain more marketshare.

Bingo.

Reps are a very useful tool when used correctly BY THE AGENT.

You have to be asking the right questions and I mean at the same time if it is a good rep they will already be telling you this stuff.


They are inside the company with the underwriters hearing whats going on .. that's a valuable tool.

What is u/w targeting? what are they hitting on? what are they looking for? what area of the country are that hot in right now? what are their target sales numbers for businesses they want to write? target class codes?

Before I went out on my own I was at Brown and Brown and a carrier rep was single handily responsible for me writing well over $600k in new biz quickly.. we developed a close relationship and he called me one night and said "yo Matt just FYI we are approved for substance abuse centers in your state and will be quoting in 30 days" ... I immediately flooded the marketplace with solicitations and cold calls and I was ahead of all the other agents BECAUSE of my relationship with my rep.

 

[GXR2]

Here is a sample script that effectively brushes them off without them even knowing they are being brushed off. It leaves them thinking you are such a wonderful, nice guy..

Senerio: Joe Rep drops in at 11am uninvited. Get up from your chair with a smile and warm greeting...

"Hey, Joe! How are you doing! (shake his hand). It's good to see you again!. Listen, something suddenly came up and I have a phone appointment with a client of mine. Your company is one of the choices I pitching to him! I only have about 10 min. to spare.. come on over and let's quickly chat for a moment."

When 10 min is up, look at your watch and say...

"Well, Joe.. I got to make that call to my client. But listen it was GREAT seeing you again (get up and walk him toward the door and shake his hand again) ... Take care now!" Do this with a big, warm smile on your face.

He will leave thinking what a really nice guy you are, and how much he really wants to help you. The whole time he has no idea that you just brushed him off.

It's called charisma. Learn it. Use it to your advantage!

 

[insurance1822]

UPDATE - I just had situations where companies were screwing my clients. I solicited my carrier reps (2 different companies) and they BOTH actually came through & helped over-turn the situation.

One is brand new. The other I have been blowing off for 3 years. Now, they have shown VALUE.

 

[rbadoux]

If you had a TV show about all the daily crap that goes on in an insurance office, I'd binge watch it on Netflix.

 

[JKND82]

If you had a TV show about all the daily crap that goes on in an insurance office, I'd binge watch it on Netflix.

You know what? I would too!

 

[Matt37]

You know what? I would too!

I have said that for years!!

They have that show on E or whatever channel called Million dollar listing .. I always thought they should do one with a few power insurance brokers that write odd stuff.

I have met the biggest characters in this industry.

The fact is .. we all have very similar personality types or we would not last in this business and when you get us all in a room together...

I love going to carrier events because it is great fun .. especially with an open bar!

I find insurance producers love to drink just like me!! You have to in this industry!!

 

[indienoise]

I have said that for years!!

They have that show on E or whatever channel called Million dollar listing .. I always thought they should do one with a few power insurance brokers that write odd stuff.

I have met the biggest characters in this industry.

The fact is .. we all have very similar personality types or we would not last in this business and when you get us all in a room together...

I love going to carrier events because it is great fun .. especially with an open bar!

I find insurance producers love to drink just like me!! You have to in this industry!!

lol.

I'd be the exception to that rule. Not the typical boisterous type...pretty laid back, actually. Just in the right place at the right time to get a lot of referrals. My plan for continued growth is quite simple: hire people who are more outgoing and better closers than I am. Those gears are already in motion, actually. Muahahahahaha!