Insurance Agent Forum

[MHart]

Have any of you ever use the service welcome wagon to advertise your agency?

I had a meeting with my local rep and I am just trying to figure out if this is worth it I ran an ad in the magazine it goes out to new homeowners 4 times a year and I get the list each month of the new homeowners and I would be the only health and life agent in the magazine.

Any feedback would be appreciated on welcome wagon?

[Mr. Bill]

Although I've heard of welcome wagon, I've never heard of it in my area. Why not just find out what they're doing, what's involved, and work on creating your own with affiliates. It would seem not too difficult?

[somarco]

Jesse (New Mind Fashion) tried this and (my recollection is) failed miserably. He was pushing health insurance.

Looking at their model, I can't think of any insurance products that would be attractive to someone who is new to the area . . . other than possibly mortgage insurance.

[Chkndinner14]

I did it for P & C a few years back. The problem there was they recd your information after they closed on the house and had transferred their car insurance to a local agent. The timing was bad for the P & C.

What percent of new HO are Health prospects? For that matter, what % of the market is not covered by group? And of that % what % have the financial means to purchase health? IDK

Of course most probably are incorrectly insured on life, but if it is a lead that is subject to DNC, it is not worth the money. They are not going to call you for life from this magazine or package.

[Soaringagent]

I wouldnt recommend it... doesn't seem worth it.

[Dave020]

Some people I worked with at W&R tried it, zero results. WW recipients (myself included) are looking for the free beer at Mo's Tavern and such. A "free consultation" sounds like it sucks and will cost me money. Give me the free beer instead.

BTW, last house I bought before this one some guy called to freaking sell me meat. No kidding, truckloads of f-ing meat. Celebrity foods or some such thing. Like I need a houseful of bad quality meat.

[Dave020]

Now, Mark, on the contrary to WW and such, these same people who had no results from WW also did an ad in something called the "Lavendar Pages"....a gay publication in the bay area.

Now, I saw some wacky sh*t like guys with purses and all, but I will tell you that they had people freaking lined up to do financial planning and make investments. Best payoff I ever saw for an ad. And the reps were straight!

[David C]

Dave, Is that W&R Waddell and Reed? I've never ran into any of their reps here in my small area. How was your experience with them?

[Dave020]

Originally Posted by David C

Dave, Is that W&R Waddell and Reed? I've never ran into any of their reps here in my small area. How was your experience with them?

Hi, yes Waddell & Reed. I found both good and bad there.

Good--the United Funds were an excellent family of funds and good performers in the market. United Income Fund was probably their top seller. Family-like atmosphere, not really very corporate. Worked mostly in the personal markets, not a business market company.

Bad--poor leadership at the office level. Mostly directed to blue collar market so earnings were low (2.75% of a $100 a month investment is not much commission). Insurance at that time was tied in with Torchmark (United Investors Life) so products were so-so but nothing compared to the majors like NML, NYL, Pru and so on so it was very hard to compete.

Overall a decent learning experience but I stayed there too long. I did find it interesting that in the late 90's they opened up (briefly) brokerage on thier funds and many of the top reps walked since they could take their book with them.

The people most successful in my office were those who had an "in" somewhere, kind of a natural market. Turnover was very high.