Individual Health Insurance Marketing

[moonlightandmargaritas]

Go target small businesses and hand out a flier to the owners and tell them you can provide health insurance for a low cost.

tell the owner you can start an HSA so the can deduct the premiums of his income tax

Over the years, I've found that business owners are not necessarily interested in the lowest cost, but the best value. When you sell on cost, there's always someone cheaper coming in behind you.

Be careful about giving tax advice, especially if it's wrong! You'll be exposed very quickly.

A business owner does NOT have to have an HSA to make his/her health insurance premiums tax-deductible.

 

[ssobel3038]

Does anyone have any LI or mp fliers or door hangers they wish to share?

 

[Reuben]

Here's some marketing 101 for health insurance.


2) Cold call telemarketing
Buy a list for a variety of internet sources like USA data and start calling: "Hi, I'm John Petrowski from the Health Solutions Agency. I'm letting business owners like yourself know about a variety of affordable health insurance plans through companies like Aetna, Time, United Healthcare and Blue Cross. Do you have your own coverage or group? Look for a 2% to 3% response.

3) Shared internet leads
You can buy leads from $6 to 15% a pop with $8 being the standard price. Look to close 1 out of 15 if you're new. If you're looking for 4 to 5 deals per week you'll need at least $500 per week. You'll also need that every week for at least a month before commission roll in. Since you'll be competiting with seasoned agents you'll really need to be on your game for this method to work.

4) Hire a telemarketer
Put an ad out on Craigslist and hire an in-house telemarketer. Have her/him come over to your place, pay about $12 per hour flat and about 4 hours per day of calls should do it. That should generate 8 solid leads and a deal a day.

Let me bump this one up a bt and ask a rather basic question, one that deals with the actual script that the agent/call center person uses when solciting over the phone.

What would the telemarkers say?

I'm looking to get out of the office and do some b2b solcits, I have little choice given the limited number of personal friends I have in this country, I moved here from the UK in March.

Thanks to all here and elsewhere, who've been tutoring me over the past few months.

This is a treasure trove of knowledge.

 

[InsuranceBenefitsGroup]

Your cockney alone will get attention, as I am sure you have already noticed. You can never mind the bullocks, here's YOU. Don't mean to patronize you, however Americans are suckers for your gab.

Just explain the benefits and how they'll benefit the prospect.....they'll be eating out of your hands. Envy...

PS- Ryanair ROCKS!!!!!!!!

Cheers,

Michael

 

[J.R.]

Let me bump this one up a bt and ask a rather basic question, one that deals with the actual script that the agent/call center person uses when solciting over the phone.

What would the telemarkers say?

I'm looking to get out of the office and do some b2b solcits, I have little choice given the limited number of personal friends I have in this country, I moved here from the UK in March.

Thanks to all here and elsewhere, who've been tutoring me over the past few months.

This is a treasure trove of knowledge.

Did you sell any supplemental policies in the UK?

 

[michaelsavannah]

HealthAgent, great post. My experience and results are highly correlated with what you described.

Hiring a telemarketer locally is great if you have the office space (and insurance) to cater to an employee. But if you're home-based, consider targeting WAHMs or retirees with a home-based telemarketing gig. This opens up your geography of talent and tends to give you a pool of people with a predisposition for good work ethic.

Also, consider paying commission only (maybe even add in a graduated bonus structure). This ensures you are only paying for results (e.g., pay per qualified lead/appointment, or pay per application submitted, or pay per policy issued, or pay per policy issued and on the books for 6 months minimum, or any combination of these).

 

[somarco]

Be careful with incentive comp to a non-licensed individual.

 

[michaelsavannah]

"passive systems to support your aggresive marketing.

Such as,
1. Yellow Pages
2. Letters to leads that didn't buy and then the re-call.
3. Post Cards to prospects that didn't make initial apointment.
4. Ad's or submit articles to Trade Magazines and local papers.

As always activity is the key."

Yes, I agree with activity is critical to your continued, consistent success. But your post doesn't seem specific to individual health insurance marketing. In my experience as well in the experience of dozens of fellow GAs and sub agents, the ROI is simply not compelling enough for yellow page advertising or ads in trade rags as you suggest.

 

[CHUMPS FROM OXFORD]

My ROI with Yellow Pages has been fabulous. One sale. No cost.

I created a free online ad. One problem though. I get (AND I AM NOT EXAGGERATING) three calls each week from the Yellow Pages wanting me to convert to a paid ad.

 

[cdpowell]

After trying many different marketing techniches, I have found hiring a telemarketer to be the most profitable. However, finding the quality telemarketer is extremely difficult. The turnover with people who do this unbelievable.