Equis, Symmetry, Assurance, oh my...!
- Thread starter Eric Snow
- Start date
N8ivCal
New Member
Assurance was just acquired by Prudential for $2.35 billion.
Also, it's no longer just Lumico, they have John Hancock and Transamerica now too.
Prudential Financial, Inc. - Prudential Financial to acquire Assurance IQ, Inc., a leading consumer solutions platform for health and financial wellness needs, for $2.35 billion
Also, it's no longer just Lumico, they have John Hancock and Transamerica now too.
Prudential Financial, Inc. - Prudential Financial to acquire Assurance IQ, Inc., a leading consumer solutions platform for health and financial wellness needs, for $2.35 billion
Max_Premium
New Member
- 4
Agree with the previous poster on assurance. I'll go a bit further. You can make money but it's wildly inconsistent. They are constantly messing with the algorithm. One week I'll be number one on my team the following I'm closing at 3% with 4 apps. Also, the numbers reported in meeting and the leader board are not reflective of actual agent pay. Most often the mega cases are submitted but never approved - I can attest from personal experience. 3/4 of the money comes from the FE business.
NiceGuy101
New Member
- 3
What are these low commission rates that you all speak of at Assurance/Prudential telesales?
- 5,261
I wrote an in-depth article reviewing Equis Financial as well as Symmetry Financial Group.
I try to stay as non-biased as possible. I think if you're considering either opportunity, you'll get a fair and balanced review of each.
I try to stay as non-biased as possible. I think if you're considering either opportunity, you'll get a fair and balanced review of each.
- 5,508
"fair and balanced" doesn't mean what it used to, you know?
Jay Khatter
New Member
- 7
There were some guys writing a lot of applications when I worked with Assurance but the commissions are low so there is no incentive to do customer service or client retention beyond the application and a lot of business falls off on the back end due to buyers remorse, paramedical examinations not getting scheduled, people lying on applications and getting denied, needing copy of physician statements, rates coming back worse than applied after underwriting review etc.
So if an agent is writing 3-5 applications a day there could be a 20 or 30% bullshit rate that are falling off on the back end that they are not talking about.
For term insurance Assurance and Lumico need to automate there back end better because selling is only half the battle and underwriting is the other half of it. Customers call and cancel and they do nothing to try to retain the business or maybe ask what could we do better to keep your business?
I like the old school ways of retaining business such as mailing customers Christmas and birthday cards, giving them small gifts, and doing quarterly and annual review. Essentially thanking them for their business every year.
So if an agent is writing 3-5 applications a day there could be a 20 or 30% bullshit rate that are falling off on the back end that they are not talking about.
For term insurance Assurance and Lumico need to automate there back end better because selling is only half the battle and underwriting is the other half of it. Customers call and cancel and they do nothing to try to retain the business or maybe ask what could we do better to keep your business?
I like the old school ways of retaining business such as mailing customers Christmas and birthday cards, giving them small gifts, and doing quarterly and annual review. Essentially thanking them for their business every year.
Similar threads
