Navigators Assistance..............

[rievandesign]

Neither, I am just kidding. I would feel bad transferring my clients to Navigators period. I do the service work for free in hopes for the renewal. But, opportunity lost to these half wit hacks who call themselves navigators during OEP is worth way more than $7,500 per agent, in my opinion. Now, the time I do spend with clients that I don't get paid for I believe can be written off.

 

[rievandesign]

No I'm not, I was just kidding. What I am saying is opportunity loss to Navigators is costing agents more than just $7,500.00 per agent per year. I would rather take a bath on the time I spend with my clients during SEP for the chance to make renewals during OEP I send clients to Navigators and it's like dropping them in a vortex of loss revenue to never be seen from again. I do believe the time I spend can be written off but I haven't gone that far.

 

[sman]

No I'm not, I was just kidding. What I am saying is opportunity loss to Navigators is costing agents more than just $7,500.00 per agent per year. I would rather take a bath on the time I spend with my clients during SEP for the chance to make renewals during OEP I send clients to Navigators and it's like dropping them in a vortex of loss revenue to never be seen from again. I do believe the time I spend can be written off but I haven't gone that far.

Some carriers are stating any business written outside of OEP won't pay a renewal commission either. So there goes the idea of taking the loss on first year commission in order to get renewal commission the following year.

 

[rievandesign]

Yeah your absolutely right! A lot of our agents are writing health as a segue into either life, FE or even annuities. The landscape has changed so much that if you don't adapt you may as well give up. I guess it's almost like giving away lollipops at the doctors office.

 

[somarco]

I guess it's almost like giving away lollipops at the doctors office.

Last time I checked, buying a lollipop did not require a subsidy.

Cross selling has been around for a while, and some are better at it than others. But I can't say I have ever heard of someone using a no-comp product (other than a "free" Rx card) as a door opener.

Good luck with that.

 

[rievandesign]

I can't say I have ever heard of someone using a no-comp product (other than a "free" Rx card) as a door opener.

I like the way you think! So say, an agent kicked all their health clients to the curb. what alternatives do you believe have the best chance for drumming up new business? Please keep in mind most current clients and prospects are all health related.

 

[somarco]

Until 4 years ago all my clients were small business or under 65 health insurance. I started transitioning to Medicare and completely bailed on the U65 business over a year ago.

It's not for everyone, and most new ventures will take some time to ramp up compensation, but it works for me.

I started planning my exit from U65 health insurance when Obamacare was signed into law. Spent a couple of years playing around with Mcare and other options before getting serious in late 2012.

 

[rievandesign]

So I can tell you understand the difficulties with transitioning. Medicare may be an easy sell for an agent that has been used to dealing with Obamacare. Thanks for your insight.

 

[somarco]

Mcare prospects are different from U65. They don't get in a rush (most of the time) and want to develop a level of trust.

Some people don't have the patience to deal with them. Doesn't bother me. I learned a long time ago that pressuring the sale is not something that works for me.

I educate, present, give them literature and rates to review and wait on them to decide.

As I said, it's not for everyone.

 

[rievandesign]

Oh I see. That makes complete sense. No matter how you slice it there is going to be long ramp up period that i'm not sure a lot of agents have the patients for. But at the given situation I don't think a lot of agents have a choice. U65 is a great option though!