I'm closing almost all of my shared leads same/next day - not past that - but not on the same call.
I call, get a hold of them, qualify, rapport. Kill the competition - show Norvax quotes. I then ask for a time later that day after they've reviewed their options when they have 15/20 minutes. The ones actually interested give me a time, answer and into underwriting they go.
Some want me to call the next day. I can't see any reason why it would take "days" to close someone actually looking for health. It can take me weeks to close a deal I cold-call - but that's interruptive marketing and they need time to simmer.
Not shared leads. You'll close 'em or someone else will.
Guarantee - be on the other end of a shared lead with me and give that client all kinds of time. I'll call and glady put 'em in GR's HSA 100 in 20 minutes. Someone else can have the crumbs.
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All depends. P&C leads close within a day, or they usually don't close. Health leads are different, you can close them (defined as app submitted) several weeks later. I think the motivations are different.
P&C people are motivated by an immediate necessaty, such as bought a car, buying a house, need insurance to register the car, etc.
Health insurance is either they want to go see the doctor, or just paid their premiums, or just lost their job. In the first case, you won't close them. In the second case, they will close when they write the next premium check, not realizing it will take time to get through underwriting. Lost job is an interesting thing, maybe close, maybe not.
There are always exceptions, I've closed P&C leads months after the initial conversation. Sometimes they are shopping their coverage, and wait for it to renew. Health will close right away, or later. In my experience, health leads need much more followup.
The problem with health leads is things that motivate individuals to shop for health insurance are usually the very reasons you don't want to talk with them at the time.
Are you taking them to your website while you are on the initial phone call?
Desktop sharing?
Or emailing the quote after you get off the phone?
We talk a lot about leads shared with unethical agents - but the truth of the matter is you're probably sharing the lead with at least one decent agent who's gonna recommend the right products - so may the better closer win.
I can tell you right now I closed one Thursday - lady said she had a great conversation with another agent - showed her Copay Select. Great - and I took the Copay Select app right then and there. Sorry.
I qualify 1st - ascertain interest - build rapport. Without rapport you have nothing - except a lot of people not signing up. If you sound like the last agent who called all you get is "call me back later."
Yes - I just tell them to go to my site and show them a copay vs HSA plan - explain the difference and ask them which makes more sense. When they tell me I say "great - I can take your application in minutes, you'll be approved in a few days and get your cards and it'll be one less think off your list of things to do."
Avg gestation time about 3 weeks. Some buy in days, others weeks, some call me back months later.
Just depends.
What I found is anyone who makes a decision on the spot will just as easily leave you when someone comes along later with a good pitch.
I cultivate clients. I don't do "deals".
My business is consultative which works well over the long haul. It isn't for everyone and what works for me may not work for you.
My clients are very loyal. They stay with me for a long time, usually with the same plan & same carrier. They refer prospects without any prompting.
Most of the agents calling them are pushy & obnoxious. They will say anything to get the "deal".
They know I am not in a hurry. I tell them it doesn't matter if they buy today, tomorrow, next week or next month. All I ask is the opportunity to earn their business.
I would say my model is more like Bob's. I have worked in some one call close industries and I was successful. I guess I am not that aggressive anymore.
I think John makes some valid points about internet leads.
Many different ways to make it work. If you work hard, there is fruit for all of us.
With that being said, no more posts til after 6 for me.
Some will close quickly and it doesn't mean they're impulsive or I'm slamming. But I recognize those prospects and put 'em into underwriting.
Other's will close in a few days - I'm there for those people also. Other's will close in weeks/months - and I'm there.
I never pressure anyone - it's a good way to lose a client who simply is not at the right place at the right time. Follow up is key.
Also recognizing who is not gonna sign up immediately is key. That all being said, if you're not mentally prepared to sign up clients on the same day who qualify and simply want it taken care of then others will get that deal.
My average is...well...I don't know. Probably somewhere between 20-40 days...or longer. I'll get an email almost every week from someone I initially spoke to more than a few months ago. They don't always buy, but some do.
Referrals, of course have the shortest turnaround time. And the few prospects from my goofy ads are usually in the 15-50 day range.
In the senior market it seems like it is either right away or six to eighteen months later. Sometimes as long as two years.
Since virtually all the prospects I talk to already have a Med Supp it almost always comes down to how much money I can save them and how well I can read them over the phone. Getting them into a conversation is the key.
I think for the most part changing companies and saving money is an emotional decision for most seniors. I have to be ready to do the app as soon as I sense they are ready. If I delay it by even a day or two they most often change their mind.
Practically all of them initially say that they are not interested. If I don't sell it on the first call then as soon as I hear their current company has an increase I call again.
It is not uncommon for me to sell someone I talked to 12 and even 36 months ago.
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Practically all of them initially say that they are not interested. If I don't sell it on the first call then as soon as I hear their current company has an increase I call again.
If your not doing this, then you are loosing a lot of money. Instead of frowning when a carrier gives out a rate increase, you should be grinning ear to ear.
Practically all of them initially say that they are not interested. If I don't sell it on the first call then as soon as I hear their current company has an increase I call again.
If your not doing this, then you are loosing a lot of money. Instead of frowning when a carrier gives out a rate increase, you should be grinning ear to ear.
That is why you should keep good records. I get a lot of my business that way. It's called a pipeline.
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Make sure that brain is in gear before operating mouth
Practically all of them initially say that they are not interested. If I don't sell it on the first call then as soon as I hear their current company has an increase I call again.
If your not doing this, then you are loosing a lot of money. Instead of frowning when a carrier gives out a rate increase, you should be grinning ear to ear.
That's where the bulk of my sales come from. Agents who don't ask that most important of questions, who do you currently have your insurance with" and keep that information readily available are wasting a lot of time and money.
Dunno. Just got a lead, single guy 32 - just left his job, Cobra's too expensive. Took him to my site, did the plan comparison - survey says GR's Copay Select and he's in underwriting. Not sure why we'd have to wait a few weeks. He already didn't like being without coverage as long as he's been without coverage.
It all depends on how YOU handle it. If you're a weak closer, it'll always happen weeks or months later...if it happens at all. If you are upfront, and call them out, it's in the bag. These people have no idea what is going on. Take control and get r done.
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Michael R. Hrad
Principal Managing Partner
Insurance Benefits Group
Health Insurance Professionals LLC
Average days to close?
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