How has covid-19 affected your insurance business?

[Rearden]

Howdy =).

I plan on surveying insurance agents next week on how Covid-19 has impacted the insurance business, and would like your help on what questions to ask.

So far, here's what I got:

How has covid-19 impacted new insurance policy sales?
-Sales down
-Sales unchanged
-Sales up

Why do you think sales have gone up/down/haven't changed?

Many agents report shifting from face-to-face sales to over-the-phone sales. How have you changed your sales process since covid-19 began?
-I have shifted my sales efforts to more over-the-phone sales.
-I have not shifted away from face-to-face sales at all.
-I have been selling insurance over the phone since covid-19 began.

Do you plan on reverting back to face-to-face sales once normalization takes effect?
-Yes, I will go back 100% into face to face sales.
-No, I plan on continuing telesales
-Both, I will do a mix of each.

If you are selling insurance face-to-face, how have you overcome prospects' concerns regarding meeting face-to-face?
-Practice social distancing.
-Wear a mask
-Use hand sanitizer
-It's not been an issue whatsoever.
-Something else (please describe in 1 sentence)

What other questions do you think are a good idea to include?

Thanks,
Dave

 

[damadcrapper]

Maybe I question about the effectiveness of lead sources - I am tossing all of my junk mail unopened but I am spending more time on Facebook, etc.

 

[Rearden]

Very good idea, thank you =)

Anyone else have any suggestions?

 

[Newby]

Howdy =).

I plan on surveying insurance agents next week on how Covid-19 has impacted the insurance business, and would like your help on what questions to ask.

So far, here's what I got:

How has covid-19 impacted new insurance policy sales?
-Sales down
-Sales unchanged
-Sales up

Why do you think sales have gone up/down/haven't changed?

Many agents report shifting from face-to-face sales to over-the-phone sales. How have you changed your sales process since covid-19 began?
-I have shifted my sales efforts to more over-the-phone sales.
-I have not shifted away from face-to-face sales at all.
-I have been selling insurance over the phone since covid-19 began.

Do you plan on reverting back to face-to-face sales once normalization takes effect?
-Yes, I will go back 100% into face to face sales.
-No, I plan on continuing telesales
-Both, I will do a mix of each.

If you are selling insurance face-to-face, how have you overcome prospects' concerns regarding meeting face-to-face?
-Practice social distancing.
-Wear a mask
-Use hand sanitizer
-It's not been an issue whatsoever.
-Something else (please describe in 1 sentence)

What other questions do you think are a good idea to include?

Thanks,
Dave

Where does Covid19 seem to rank on on their list of health ailments? They often think COPD, congestive heart failure, insulin dependent diabetes, obesity, heavy smoking, Liver disease, etc. are just minor ailments. Does Covid 19 just fit right in with the rest?

Spoiler alert! It appears that it does. Our agents in the field this week had to remind the people to social distance on the appointments. And had to stop them from shaking hands, etc. The feedback is the agents are more concerned with it than the applicants.

 

[theinsuranceman]

Howdy =).

I plan on surveying insurance agents next week on how Covid-19 has impacted the insurance business, and would like your help on what questions to ask.

So far, here's what I got:

How has covid-19 impacted new insurance policy sales?
-Sales down
-Sales unchanged
-Sales up

Why do you think sales have gone up/down/haven't changed?

Many agents report shifting from face-to-face sales to over-the-phone sales. How have you changed your sales process since covid-19 began?
-I have shifted my sales efforts to more over-the-phone sales.
-I have not shifted away from face-to-face sales at all.
-I have been selling insurance over the phone since covid-19 began.

Do you plan on reverting back to face-to-face sales once normalization takes effect?
-Yes, I will go back 100% into face to face sales.
-No, I plan on continuing telesales
-Both, I will do a mix of each.

If you are selling insurance face-to-face, how have you overcome prospects' concerns regarding meeting face-to-face?
-Practice social distancing.
-Wear a mask
-Use hand sanitizer
-It's not been an issue whatsoever.
-Something else (please describe in 1 sentence)

What other questions do you think are a good idea to include?

Thanks,
Dave

My observations:
_Closing % has increased. So far about 1.5 times the sales before with 20 leads/week! (Our market is watching the news every day saying the most vulnerable are the senior citizens and people with compromised health......our primary market). The news seems to be helping get some of the procrastinators to act now rather than putting it off.

_Easier to catch people at home. (No hair dressers, bingo, etc. like pre-covid times). This equates to more presentations per 40 hour week which equates to more $$$ earned per week.

_We've been doing FE telesales since 2004 so we didn't have any hiccups with most agents changing to telesales. Post covid most agents will probably go back to face 2 face sales....but only when there is very little resistance from the prospects having us come inside their house.

_Face 2 face agents, doing drive by door knocks, give Ms. Jones a couple of brochures along with a copy of the lead card, telling Ms. Jones they've been told by their supervisor to not step inside anyone's house, and will go back to their car and call Ms. Jones from their car and do a telesale while sitting in their car.

_If the virus does not die down completely till we have a vaccine, which may be another year or 2, then we'll continue to hear about outbreaks periodically around the country from time to time (because it's so darn contagious), which will keep closing %'s higher than in previous years and telesales becoming important for FE agents to master.

_I believe some carriers will adjust underwriting to include some type of permanent questioning about currently being treated for covid, etc.

_Post dated business may be shortened for awhile from 30 days to as low as 7 days. SL does 7 day postdates now.

_I believe 13 month persistency will improve.

_I believe DM response rates will improve.

_I believe there will be more sales available.....for the agents that can adapt and then go after them.

_There will be some thinning of the herd of FE agents who don't have the upline to guide them with covid conditions.

 

[theinsuranceman]

Where does Covid19 seem to rank on on their list of health ailments? They often think COPD, congestive heart failure, insulin dependent diabetes, obesity, heavy smoking, Liver disease, etc. are just minor ailments. Does Covid 19 just fit right in with the rest?

Spoiler alert! It appears that it does. Our agents in the field this week had to remind the people to social distance on the appointments. And had to stop them from shaking hands, etc. The feedback is the agents are more concerned with it than the applicants.

Remember, If Ms. Jones has the virus in her house or her body, your agents can easily catch the virus from her door knob, chair, table, her cough or sneeze, etc. Then they can go pass the virus along to other unsuspecting seniors without realizing it.

 

[goillini52]

Remember, If Ms. Jones has the virus in her house or her body, your agents can easily catch the virus from her door knob, chair, table, her cough or sneeze, etc.

How about from intercourse?

 

[somarco]

How about from intercourse?

Do your CE couse work online.

 

[PA Bill]

How about from intercourse?

Intercourse, PA? Still in lockdown, monkey man. Your cock is blocked!

 

[toolbelt]

Anything that heightens society's awareness of mortality is sure to lead to more life sales.