High Volume Production and All the Headaches!

[ABC]

This quarter I have really been writing a lot more individual policies. Most of them are coming from my website.

I have noticed about 10% of what I write are problem accounts. In sufficient funds, not knowing health conditions, not know their own weight, and working with multiple brokers. The competition does not bother me its when they except a policy from me and the cancel it 15 days after the effective date. At that point I cant get them a full refund.

For you agents writing volume in the individual market does 10% fall off rate for non medical sound right?

In the past I have really concentrated obtaining responsible people as clients. It seems now I am getting a % of dumb asses.

 

[YouGotMyMoney]

This quarter I have really been writing a lot more individual policies. Most of them are coming from my website.

I have noticed about 10% of what I write are problem accounts. In sufficient funds, not knowing health conditions, not know their own weight, and working with multiple brokers. The competition does not bother me its when they except a policy from me and the cancel it 15 days after the effective date. At that point I cant get them a full refund.

For you agents writing volume in the individual market does 10% fall off rate for non medical sound right?

In the past I have really concentrated obtaining responsible people as clients. It seems now I am getting a % of dumb asses.

ABC, when you get seo leads that are "free" you can't filter for currently insured, min of 2 on the lead...etc etc.....so most top agents get filtered leads, now that doesn't mean there aren't any headaches, but they don't have the same issues you described.

 

[taterpeeler]

ABC... yes, you are correct. As someone on page one position 1 or 2 for primary term and first page for 20 other terms ALL my biz comes from my website. I have noticed in the past 2 months or so a high influx of single people, women, born in the '80's. thats a tough sell... in the past i mainly got families but after HCR the trend switched.

I also noticed 2 weeks ago a heavy supply of families... was selling 2 or 3 a day with 66% of them over 500$ a month, that was nice, thats how it was jan to august. I hit page one position one or two in jan.

also, you will see more flakes online and i notice my fall off rate higher than i am used to. when i was buying filtered leads and i had a more heavy hand in the marketing i almost never had a turn down due to medical and never lost a client... probably hovered at 90% of all submitted got approved and stuck for at least a year... now it is less... i dont track it

why do i not track it? because i track this number... 3/4 quotes equals one sell... 7/10 visits equal a lead... so give me 24/32 visits and i get a sell... i avg 1.3 sells a day online not counting other sells

 

[somarco]

I have very few declined applications and even fewer cancellations, especially during the first 6 months.

But for the last year+ I have seen more uninsurable, no money prospects than I can shake a stick at.

All leads come from my site. No PPC or purchased leads.

There are a lot of people that I talk to but we never submit an app.

 

[HealthGuy]

Somarco: Dead nuts agree. This economy sucks so bad and people dont want to level with you that they can't either afford a premium or their 15K or 10K deductibles. So many people are just saying F it, go without health insurance. Sad but true to quote James Hetfield.

 

[ABC]

So this is more of a trend.
A 10% drop off rate after approval for multiple reasons outside of medical.

 

[somarco]

It may be a trend for you, but not for me. That is not chest thumping, but I really don't have a lot of folks cancelling during the first year, for any reason. Most at least stick it out to the first renewal.

 

[ABC]

This is why I posted this because I am not use to people dropping the plan before it goes into place.

When I went back to look at my notes on each case. I had 3 total drop offs after approval since Nov 15. All 3 had one thing in common and that was they were trying to get off a group plan.

It may be a trend for you, but not for me. That is not chest thumping, but I really don't have a lot of folks cancelling during the first year, for any reason. Most at least stick it out to the first renewal.

 

[somarco]

All 3 had one thing in common and that was they were trying to get off a group plan.

That is a bit different, because it isn't always possible to get through underwriting before the open enrollment election period is over.

Don't you just love it when they call on Friday and they have to turn in their selection the following Monday?

Even if they appear clean, I tell them to call back next year.

Have had a few want to roll the dice because the savings was significant. Wrote one like that last week. Only had a few days and it turns out my healthy gal ended up with a couple of ridered conditions. She was OK with that once I explained it, but I did tell her if we went forward and she didn't like the offer there may be no turning back.

I have only had one case in the last 6 months that cancelled after the offer. Another "healthy" lady who it turns out during the phone interview she takes a couple of expensive anti-depressants.

The rate increased about 40% and she went ballistic. Said she would just go without coverage rather than pay the increase.

Not a problem, ma'm. Take a pill and have a nice day.