Liberty Mutual: Advice from CaptiveGuy and Nyc2phi

[aj22]

Thanks ins cloud.

I think 2 years would be able as long as I want to stay. My expenses are low, so if I can make 60k the first and second year I would be debt free and have 70k in savings to open an independent agency.

Although the competitive part of me wants to see if I can beat out CaptiveGuy's numbers, we'll see haha.

 

[Underwriter2Agent]

Good to know I'll try them out. It's not for me yet, only been here 5 months. Just trying to keep grinding and staying positive. Definitely feels like I'm stuck with a product I can't sell sometimes though

What part of Florida?

 

[aj22]

What worked for me in order of policies/premium:

1. Networking - (groups, events, chamber, etc)
2. Referrals - ask every new client and this gets easier as your book grows. Offer $10 gift cards and send thank you cards per referral if legal in your area.
3. Internet Leads - buy filtered leads that work with LM's target of home owners, college educated, and multiple car.
4. Liberty call ins and internet leads which are rotated between reps.

Go out and stop in to real estate, mortgage, and financial planners' offices when you have any free time or set a day aside for it.

I was hoping to get your advice about networking, specifically in regards to speaking with real estate agents, mortgage brokers, and financial planners. How does that conversation typically go for you and how do you cultivate the relationship?

 

[adam1314]

I have my second interview tomorrow afternoon. Its the "job shadowing" interview. I think one of the big keys to being successful at Liberty (based on what I have seen so far) is signing up and cultivating GSP's. With Liberty, you must constantly produce, as the renewals are really low. Having multiple GSP's set up that drive business to you is the end game. I know a few agents at Liberty that have signed up really nice GSP's and they can count on hitting their goals and then some just off business driven to them. I like what nyc2phi said about how to sign up GSP's. Getting ahold of people in benefits shouldn't be extremely difficult and companies are always looking for ways to increase their benefit programs to retain employees. Good luck to you. Maybe we will both be bleeding Liberty blue soon.

 

[blue_wynd]

I have my second interview tomorrow afternoon. Its the "job shadowing" interview. I think one of the big keys to being successful at Liberty (based on what I have seen so far) is signing up and cultivating GSP's. With Liberty, you must constantly produce, as the renewals are really low. Having multiple GSP's set up that drive business to you is the end game. I know a few agents at Liberty that have signed up really nice GSP's and they can count on hitting their goals and then some just off business driven to them. I like what nyc2phi said about how to sign up GSP's. Getting ahold of people in benefits shouldn't be extremely difficult and companies are always looking for ways to increase their benefit programs to retain employees. Good luck to you. Maybe we will both be bleeding Liberty blue soon.

is GSP Liberty talk for COIs?

 

[PandCforMe]

No it's a group savings program. Liberty gives discounts to the employees of business partners who participate in the program

 

[CaptiveGuy]

I was hoping to get your advice about networking, specifically in regards to speaking with real estate agents, mortgage brokers, and financial planners. How does that conversation typically go for you and how do you cultivate the relationship?

You have to be careful to explain the expectations from each side. I sell myself and product offerings as a way to make the realtor's or mortgage broker's life easier by offering prompt service and competitive rates. I will occasionally send the office some breakfast or a monthly lunch to keep my name fresh.

The best way to go about is to say something like "I know you may already have an insurance agent you work with, but if they are every busy or your client needs a comparison quote please contact me." Once you get the shot you got to run with it.

 

[adam1314]

is GSP Liberty talk for COIs?

GSP stands for Group Savings Plus. Basically if a company signs up for a GSP Liberty will give a discount (based on the size and viability of the group). Companies see value in this as they can offer a discount on auto and homeowners insurance as another benefit for employees. I'm not sure what COI stands for. The only COI acronym I am aware of is certificate of insurance.

 

[blue_wynd]

GSP stands for Group Savings Plus. Basically if a company signs up for a GSP Liberty will give a discount (based on the size and viability of the group). Companies see value in this as they can offer a discount on auto and homeowners insurance as another benefit for employees. I'm not sure what COI stands for. The only COI acronym I am aware of is certificate of insurance.

COI is center of influence. People who can refer business to you. Real Estate agents, CPAs, Lawyers, etc.

 

[nyc2phi]

I was hoping to get your advice about networking, specifically in regards to speaking with real estate agents, mortgage brokers, and financial planners. How does that conversation typically go for you and how do you cultivate the relationship?

What captiveguy said was right. Another way I had luck with getting my foot in the door initially is joining a local BNI, Chamber of Commerce, and going to weekly networking events that are posted on sites such as Meetup or NetMixer.