Remaking Agency from P&C to L&H

[1life101]

I am located in Michigan and the wild swings in P&C has givien me fits. From captive to indy, it's just not working, well. I can't grow my agency. I am looking to transition from a 85%-90% P&C book to sale more L&H. I am working with very little / no capital.

I am currently appointed with a few companies direct and few through Cutler. What I need is a low, LOW to no cost lead program or to appoint with companies or IMO's , FMO's that have them. I would be happy to do some type of deeper commission split for a company that provides quality leads.

Is there companies or IMO's out there that do something like this?

I looked at lifequotes.com and the program seemed good, but according to sources they would not be a good fit for my little operation.

Thanks

 

[WinoBlues]

I am located in Michigan and the wild swings in P&C has giving me fits. From captive to indy, it's just not working, well. I can't grow my agency. I am looking to transition from a 85%-90% P&C book to sale more L&H. I am working with very little / no capital.

I am currently appointed with a few companies direct and few through Cutler. What I need is a low, LOW to know cost lead program or to appoint with companies or IMO's , FMO's that have them. I would be happy to do some type of deeper commission split for a company that provides quality leads.

Is there companies or IMO's out there that do something like this?

I looked at lifequotes.com and the program seemed good, but according to sources they would not be a good fit for my little operation.

Thanks

How many P&C households do you have?

 

[F150]

I am located in Michigan and the wild swings in P&C has giving me fits. From captive to indy, it's just not working, well. I can't grow my agency. I am looking to transition from a 85%-90% P&C book to sale more L&H. I am working with very little / no capital.

I am currently appointed with a few companies direct and few through Cutler. What I need is a low, LOW to know cost lead program or to appoint with companies or IMO's , FMO's that have them. I would be happy to do some type of deeper commission split for a company that provides quality leads.

Is there companies or IMO's out there that do something like this?

I looked at lifequotes.com and the program seemed good, but according to sources they would not be a good fit for my little operation.

Thanks

sounds like you arent putting in the effort in a P&C agency or you just dont have competitive carriers.

 

[1life101]

110. My book has went from around 600 in force in 9 months. I switched from a captive to indy and I am now rebuilding from start. It's a tough nut to crack. I have contacted many in my former book to offer life products and cold call daily. I was buying some leads but the roi has been low to no and my need to get a jump start makes me seek a partnership.

Do you know of any companies that provide a quality product and leads in exchange for a sizeable portion of earned commissions?

I would go as much as 35-40% if I was getting the leads.

 

[1life101]

f150
" sounds like you arent putting in the effort in a P&C agency or you just dont have competitive carriers."

I have put a major effort in my locale, carriers have gone none competitive and some have pulled up stakes and left the state. In switching from a captive to indy means I'm working to build a brand where one did not exists before. The __ Insurance Agency is way different than The __ State Farm Agency. I spent considerable time, money and effort marketing my new agency and now that money is almost gone, rates have changed and inbound calls from the marketing have slowed. I have increased my cold calling from around 200-250 per week to 350 per week. Still just a trickle. I know the flood gates don't just open but I've been on a 9-10 month bad streak and need to revamp my agency.

I have not really worked much commercial and just know I would be better at L&H, but it's not out the question, right now I'm just looking for what I can use to jump start the whole agency.

 

[WinoBlues]

How many P&C households do you have?

Good question Wino. I have 350 households, er, or is it 35?

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Good question Wino. I have 350 households, er, or is it 35?

Well 1, that is important information so that we can give you the opinions and advice you asked for.

Let's assume 350. There is your warm to hot list. Some of us have some experience working a P&C book so we know that the information you have in those files is gold. You just need to learn to mine it.

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Good question Wino. I have 350 households, er, or is it 35?

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Well 1, that is important information so that we can give you the opinions and advice you asked for.

Let's assume 350. There is your warm to hot list. Some of us have some experience working a P&C book so we know that the information you have in those files is gold. You just need to learn to mine it.

So Wino, you are saying I can use these current 350 clients to build a war chest to launch my new Life bases agency? What information should I glean from thee files? Any suggestions on an IMO or products a new life guys should start with?

I appreciate the time and hope someday to offer free help to my competitors as unselfishly, not to mention graciously, as you Mr Wino.

 

[F150]

f150
" sounds like you arent putting in the effort in a P&C agency or you just dont have competitive carriers."

I have put a major effort in my locale, carriers have gone none competitive and some have pulled up stakes and left the state. In switching from a captive to indy means I'm working to build a brand where one did not exists before. The __ Insurance Agency is way different than The __ State Farm Agency. I spent considerable time, money and effort marketing my new agency and now that money is almost gone, rates have changed and inbound calls from the marketing have slowed. I have increased my cold calling from around 200-250 per week to 350 per week. Still just a trickle. I know the flood gates don't just open but I've been on a 9-10 month bad streak and need to revamp my agency.

I have not really worked much commercial and just know I would be better at L&H, but it's not out the question, right now I'm just looking for what I can use to jump start the whole agency.

OK dude, I am not arguing or anything, but it sounds like, you need to get off your ass and get out of the office. Make some referral partners (mortgage lenders, realtors) join some networking groups. You sound like you have branded your AGENCY, but you havent branded YOUSELF!

When i was captive, when friends asked my clients who their insurance agent/carrier was, they always responded the captive carrier name.....now as an IA, their answer is ME/my name.

I wouldnt give up the P&C, I would add to it, cross sell the current clients, life, disability, long term care etc. you really dont need new licenses for those, depending on what you have of course, your current book can be a gold mine.

You state you are cold calling, if thats all your doing, yup, your gonna fail.... get out there to find the warm leads.

Start a referral program, send it to all your current clients.

is your non compete over? go after the old clients from your captive agency.

Funny, sounds like, you blame the market, the carriers etc, but havent heard or seen anyone else complain like that. make sure you have competitive carriers. thats a HUGE key right there.

GIT ER DONE!

 

[1life101]

Winoblues

I don't know what happen to my original reply, but at one time I had 600 in force policies close to half were renters policies and did not renew when the complexes changed hands and brought in their own "required" insurance company. Then I switched from captive to indy. That dropped my P&C count to 0, so I am rebuilding and have 110 pif.

I have spent on marketing my new agency, and have in spite of the no solicit clause been in touch with my former book and using the loophole to market only health and life, it's just a slow go.

I would agree maybe it is gold, and my tools are not sharp enough to get to it. What would you suggest?

 

[VolAgent]

If they aren't beating down your door as a P&C agency, you could close the office and no one would ever notice as a L&H agency.

You want to move from a product they are required to have by law and the lender, to one that has to be sold? That is not likely to be a successful transition if you are having trouble prospecting already.

It is time to reevaluate your prospecting methods. Then cross sell life to your new and existing clients to help pay for your marketing.

 

[WinoBlues]

Good question Wino. I have 350 households, er, or is it 35?

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Well 1, that is important information so that we can give you the opinions and advice you asked for.

Let's assume 350. There is your warm to hot list. Some of us have some experience working a P&C book so we know that the information you have in those files is gold. You just need to learn to mine it.

----------



So Wino, you are saying I can use these current 350 clients to build a war chest to launch my new Life bases agency? What information should I glean from thee files? Any suggestions on an IMO or products a new life guys should start with?

I appreciate the time and hope someday to offer free help to my competitors as unselfishly, not to mention graciously, as you Mr Wino.

Oh it is my pleasure and please just call me Wino.