Settlers Life New Program

[mbiallas]

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.

So insulin diabetics are off the table for gold but what about letting them in at silver? And pill treated diabetes at gold?

 

[moonlightandmargaritas]

...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...

That must have been two hours that felt more like two weeks!

 

[rousemark]

That must have been two hours that felt more like two weeks!

For whom?

 

[Newby]

That must have been two hours that felt more like two weeks!

Not for me. I love to hear myself talk.

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So insulin diabetics are off the table for gold but what about letting them in at silver? And pill treated diabetes at gold?

They have considered merging silver 2 in with silver. But they determined that they would increase the premium on Silver if they do that. All the feedback (me included) told them not to do that. There are plenty of other places to go with diabetics.

The beauty of Settlers is that they are different. If every company was exactly the same we would only need one. Settlers will give 1st day if you had a TIA yesterday. They are fine if you are 26 years old with MS and weigh 300 lbs. But they don't want insulin diabetics at all. We agents just have to put the square pegs in the square holes and the round pegs in the round holes. The clearer they can make the holes, the more pegs they will get.

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Did I say MS? I meant CP. Settlers Silver won't take MS.

 

[smokin goose]

Not for me. I love to hear myself talk. ---------- They have considered merging silver 2 in with silver. But they determined that they would increase the premium on Silver if they do that. All the feedback (me included) told them not to do that. There are plenty of other places to go with diabetics. The beauty of Settlers is that they are different. If every company was exactly the same we would only need one. Settlers will give 1st day if you had a TIA yesterday. They are fine if you are 26 years old with MS and weigh 300 lbs. But they don't want insulin diabetics at all. We agents just have to put the square pegs in the square holes and the round pegs in the round holes. The clearer they can make the holes, the more pegs they will get. ---------- Did I say MS? I meant CP. Settlers Silver won't take MS.

I agree, they are a niche company at best. The thing is, they want to be a go to, but aren't willing to do the things it takes to be a top carrier in someone's bag. In conclusion, all those meetings they're having with IMO's are worthless.

In saying that, I'll be very appreciative of their new app when I write them 3 or 4 times this year.

 

[HoosierLife]

I agree, they are a niche company at best. The thing is, they want to be a go to, but aren't willing to do the things it takes to be a top carrier in someone's bag. In conclusion, all those meetings they're having with IMO's are worthless. In saying that, I'll be very appreciative of their new app when I write them 3 or 4 times this year.

I won't! Who wants to cut these things out with some scissors? I can't even fit these packets in my bag!

 

[smokin goose]

I won't! Who wants to cut these things out with some scissors? I can't even fit these packets in my bag!

All the trouble they went through for you and you're still griping. :-)

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BTW, I just tried it. One fold and they tear right out with ease. You're not holding your mouth right.

 

[VolAgent]

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.

So if I am reading this right...

They told you that you aren't allowed to tell them their house is on fire. But they did invite you to discuss window treatments?

That sounds like a very productive meeting.

 

[Gooner]

So if I am reading this right... They told you that you aren't allowed to tell them their house is on fire. But they did invite you to discuss window treatments? That sounds like a very productive meeting.

Great analogy!

 

[goillini52]

All the trouble they went through for you and you're still griping. :-)

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BTW, I just tried it. One fold and they tear right out with ease. You're not holding your mouth right.

Hahahaha...that's funny!