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Settlers Life New Program
- Thread starter John Galt
- Start date
- 2,960
What if it was A.1. sauce, would that make a difference?
Closer, but I'd still have to be pretty hungry. :-)
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I just be a lowly IMO and not a full time FE agent but I had their ears last week. Their president, head of underwriting, VP of sales and several other managers gave me two hours of their time to tell them everything they need to do to attract more sales. Lowering rates and accepting insulin diabetics were off the table from past discussions. But the improvements we discussed that I believe will come in the near future are a clear RX knockout list, 100% decisions at POS (it was news to them that a decline is Prefered over further investigation), and speaker phones during enhanced POS interviews.
My opinion of the ideal method is that any time they can not approve the case at the interview it should be a decline. Or with Settlers it's usually an offer of Bronze. Then if the AGENT decides he wants to refer to further underwriting he can ask for that. But in most cases he will just move on to his next company.
I also let them know that it's important for the agent and applicant to be informed of the reason for the decline or rate up so he can decide if another company will be an option. They do not seem opposed to this either and just need to make certain they have all the legal disclosures and permissions in order.
If they get most of this done and work toward shortening the interview, this will be a much more attractive product.
But I also know, JD isn't holding his breath.
My opinion of the ideal method is that any time they can not approve the case at the interview it should be a decline. Or with Settlers it's usually an offer of Bronze. Then if the AGENT decides he wants to refer to further underwriting he can ask for that. But in most cases he will just move on to his next company.
I also let them know that it's important for the agent and applicant to be informed of the reason for the decline or rate up so he can decide if another company will be an option. They do not seem opposed to this either and just need to make certain they have all the legal disclosures and permissions in order.
If they get most of this done and work toward shortening the interview, this will be a much more attractive product.
But I also know, JD isn't holding his breath.
An example of how out of touch they are:
They are touting "no appointment fees...EVER!" as a benefit of being a Spartan. That is their first bullet point.
Wake up Settlers. Dozens of companies appoint with no fees whether business is submitted or not. Saving a measley $25 a year is not important to somone submitting $180k in business.
Business processed first - again, not an issue with most other carriers because even a rookie agent gets his business issued in 2-3 days.
$200 in Settlers swag. Pocket change for the $180k baller.
Even the goal is out of touch. Might as well advertise an incentive trip to the moon.
They are touting "no appointment fees...EVER!" as a benefit of being a Spartan. That is their first bullet point.
Wake up Settlers. Dozens of companies appoint with no fees whether business is submitted or not. Saving a measley $25 a year is not important to somone submitting $180k in business.
Business processed first - again, not an issue with most other carriers because even a rookie agent gets his business issued in 2-3 days.
$200 in Settlers swag. Pocket change for the $180k baller.
Even the goal is out of touch. Might as well advertise an incentive trip to the moon.
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What Settlers should have done is hosted a few regional round-table focus groups with a dozen or less agents and picked their brains as to what THEY would like to see that would encourage them to write more business.
All an agent wants is a solid, marketable product, that has transparent underwriting, with decent support from the Home Office.
As for incentive programs? Most agents would be thrilled to have a lead credit program built in. That's encouragement enough.
I think I should consult with these FE companies and charge them $200k a year to tell them the seemingly obvious.
All an agent wants is a solid, marketable product, that has transparent underwriting, with decent support from the Home Office.
As for incentive programs? Most agents would be thrilled to have a lead credit program built in. That's encouragement enough.
I think I should consult with these FE companies and charge them $200k a year to tell them the seemingly obvious.
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Whether they get that stuff done or not is not imprtant. That is not what the field agents would ask for.
So answering a question not asked will not have any effect on doing business with them.
Changing all their maybes to no?? Well, how frickin wonderful!!
Where's that pocket knife when you need it??
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I'll take a decline with a reason for the decline over a wait for decision. That way you know where to go with the case. If there is no where else to go, the agent could request to go to further underwriting.
What could be better than that?
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Approval....................................
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