Insurance Agent Forum

[deeddata]

I'm of the view that blanket mailers almost never work because they reach settled families that have been in their home for long periods and thus are getting multiple discounts and have loyalty to their current agent.


Not so for new residents that just moved in. They need insurance but have no loyalties to any agency and know where nothing is. The timing is perfect to make an early connection with these new movers and homeowners that are brand new to town. Contacting new residents is a good way to write more auto, life and mortgage protection. Any thoughts?

[mickeyma]

Many people like the comfort of having one agent and one company. I do this with Verizon--one bill for my phone, wireless and internet.

Try telling these people that they shouldn't have all their eggs in one basket. Diversify. Especially if the company is into casualty. What will happen to your life policy with that company if it experiences huge losses because of fires, floods, hurricanes, tornedoes or earthquakes.

In Los Angeles, we had a great casualty company called 20th Century. An earthquake hit in 1994 and they suffered almost a billion dollars in losses. They were bailed out by AIG (this is in 1994) and were able to survive with a new name--21st Century. However, I immediately changed my car and homeowner policies to another company.

Hope this helps.

[somarco]

New homeowners are bombarded with mailers on all kinds of products . . . including insurance. If they are new to the neighborhood they might appreciate having information on doctors, dentists, restaurants, etc.

If they have simply moved within the same area, something we did a few years back, they already have those connections.

Either way, a move means (usually) a new mortgage and other expenses they didn't have before. New homeowners may seem like a logical choice but few agents have been able to make a decent income off that market.