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I noticed a few comments on the persistancy rate of EHI,It well may be crappy, but overall it looks as if a lot of ...
I noticed a few comments on the persistancy rate of EHI,It well may be crappy, but overall it looks as if a lot of it must stick. Of course I do not know if these figure represent taken rate or submitted rate. Either way they are killing the internet lead business.
My guess would be submitted. I also suspect their lapse rate is high.
Frankly, I don't care how many they sell. I can't pay my bills with their commission checks.
EHealth spends a lot of money to keep their name at the top of search engines. If you want to compete with them you need deep pockets.
People who buy from me are looking for more than a rate. They are looking for assistance in finding the right plan out of more than 1800 variations compared to pick one off the shelf from among 200 at eHealth.
They get my expertise, my years in the industry, my ability to negotiate with underwriters & claims managers.
None of that is available from eHealth.
EHealth is no more my competition than are the carriers who market direct, the captive agents or even big Blue. I have no competition because no one can do what I can do for a client.
My guess would be submitted. I also suspect their lapse rate is high.
Frankly, I don't care how many they sell. I can't pay my bills with their commission checks.
EHealth spends a lot of money to keep their name at the top of search engines. If you want to compete with them you need deep pockets.
People who buy from me are looking for more than a rate. They are looking for assistance in finding the right plan out of more than 1800 variations compared to pick one off the shelf from among 200 at eHealth.
They get my expertise, my years in the industry, my ability to negotiate with underwriters & claims managers.
None of that is available from eHealth.
EHealth is no more my competition than are the carriers who market direct, the captive agents or even big Blue. I have no competition because no one can do what I can do for a client.
I get calls all the time from people who were on ehealth and got to confused by all the options. I had so many people tell me that they had applied for insurance and didn't even realize it that I had a guy I know go to thier site and see what it was like from the consumer side. He said that he got all the way to the payment screen before he realized that he was applying for coverage. He was still just trying to get a quote based on his health. I was amazed.
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Steph
My job is so secret I don't even know what I'm doing!
I called up an Ehealth rep in early 2004 to test them - gave some health conditions, one declinable, and said I was looking for maternity coverage for my family. I might as well have been talking to my 2 year old. She wasn't aware of any plans that included maternity in MD. I said "How about Aetna, Blue Cross, Assurant and Optimum Choice?" She said "Oh." And she didn't blink about my health condition, included my fake diabetes and just told me to fill out an online app and apply to get the decision.
More worthless than tits on a bull.
------------------------------------ Health Insurance Agents: Training, Support, Discounts, E&O for $440 www.ihiaa.com
That one got me laughing! Great story John. I wonder if all of the people who get declined are reported to the MIB?
Another one that I find irritating is the AARP. United sure must have had some heavy backroom deals going to land that account. I don't think that the policies are fully explained to those clients either. They just trust that the AARP is "looking out for them" - I'm not talking about 65+ year old seniors, they push the 50+ year old health crowd. The 2 policies that I have seen where like "right start" plans. The people did not know what they had - they just trusted that the AARP would only endorse the best products.
eHealth is no more my competition than are the carriers who market direct, the captive agents or even big Blue. I have no competition because no one can do what I can do for a client.
They do 133 app a week...IN TEXAS.... if u dont think u compeate against them then denial is something u need to address.... i don't care what u say, how u slice it, how u justfy it.... bottom line, 133 apps a week have been removed from the playing field, now agents like me are fighting for that client u speak about that wants the service... so, ehealth has caused the human agent to have a smaller pool of clients to fight it out for.... so trust me buddy.... they have affected your biz.... u may now be working harder for that client..... it's just a fact jack!!!!!
You know all those internet leads you get where you never get in contact with them? They already hit Ehealth. They are massive competition for shared leads. It's in interesting concept to spend your marketing money to fund your competitors.
Oh... and that 133 apps a week.... that was just for blue cross...... unicare is the cheapest in texas.... so i bet they do at least 133 apps, probably more like 200... so all told i bet ehealth does about 500-700 apps a week in texas alone.... that pool of people just got even smaller
You know all those internet leads you get where you never get in contact with them? They already hit Ehealth. They are massive competition for shared leads. It's in interesting concept to spend your marketing money to fund your competitors.
[COLOR=black]EXACTLY, EXACTLY, EXACTLY[/COLOR]
Most clients will take the premium increase or waivers, rather than go through the hassle of re-applying.
oh... and that 133 apps a week.... that was just for blue cross...... unicare is the cheapest in texas.... so i bet they do at least 133 apps, probably more like 200... so all told i bet ehealth does about 500-700 apps a week in texas alone.... that pool of people just got even smaller
News flash - most people would rather roll around in broken glass then spend 10 seconds talking to an insurance agent. The second they find out they can quote and apply that's what they're gonna do. You could pull off the same think using Norvax if you have $100,000 a month to spend like Ehealth probably does.
Last edited by healthagent : 06-13-2007 at 02:11 PM.
News flash - most people would rather roll around in broken glass then spend 10 seconds talking to an insurance agent. The second they find out they can quote and apply that's what they're gonna do. You could pull of the same think using Norvax if you have $100,000 a month to spend like Ehealth probably does.
Would you front me the money. I will be sure to let you know how it goes.
I did a version of it with an AdWords campaign and one time was bidding enough per click that I was second to Ehealth - of course, only in my area, not nationwide. I got a lot of leads and when I did the math and the dust settled they were the most expensive leads known to man:
1) Client's putting in either no phone number or a fake one
2) No email or a fake one
3) Uninsurable
4) Went into many sites for quotes - so I'd think the lead was exclusive yet 10 other agents were calling
5) A lot of young singles with zero interest
6) Couldn't contact about 60% of them - no answer for phone, won't respond to email.
Etc....Not that I didn't make a profit - I did. But it was simply a headache and unlike internet leads, there's no return policy.
Last edited by healthagent : 06-13-2007 at 02:17 PM.
I asked an EHealth rep today what the difference was in buying from someone local vs. buying from EHealth. He said that a local agent is paid by commission and will try to always sell me the most expensive policy.
He also quoted me a rate WITHOUT ASKING ONE MEDICAL QUESTION.
A lot of carriers I deal with have small departments to handle Ehealthinsurance.com apps. They have 0 customer service. After someone applies they never speak to them again.
EHealth is designed to peddle apps. Same for most of the other boiler room operations. Persistency is not a concern. Accuracy of the quote is not a concern. Trying to match the clients medical history with the right carrier is not a concern.
On average, I replace eHealth business every other month. Not a lot but enough to make me wonder just how many folks they screw.
Wrote a guy last month that bought from one of the FL boiler rooms. He got the GR HSA. The guy he talked to in FL sent him a few quotes with links to the app. Nothing more. He completed the app without assistance. Two weeks later the policy came in from GR . . . with a rider.
He didn't realize the policy had a rider until a month later when he was reading thru it. The FL agent never told him there was a possibility of a rider. Never called to tell him the policy would be issued with a rider. Never did anything beyond talking on the phone for less than 10 minutes & sending a link.
The rider was for back & neck spasms.
Seems he had some tension associated with leaving his job and going self employed. He had one visit to a chiro and that was it. No follow up treatment. No meds. A single episode 3 months before applying for coverage.
He put that on the app.
GR ridered it.
I placed him with Time with full disclosure. Got him preferred with a 3 year rate guarantee.
My guess would be submitted. I also suspect their lapse rate is high.
Frankly, I don't care how many they sell. I can't pay my bills with their commission checks.
EHealth spends a lot of money to keep their name at the top of search engines. If you want to compete with them you need deep pockets.
People who buy from me are looking for more than a rate. They are looking for assistance in finding the right plan out of more than 1800 variations compared to pick one off the shelf from among 200 at eHealth.
They get my expertise, my years in the industry, my ability to negotiate with underwriters & claims managers.
None of that is available from eHealth.
EHealth is no more my competition than are the carriers who market direct, the captive agents or even big Blue. I have no competition because no one can do what I can do for a client.
That's right its all about customer service!
Thats Why Im 26 and I own my brokerage
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"The difference between the almost- right word and the right word is.....
the difference between the lightning bug and the lightning."
-Mark Twain
E-Health Insurance.
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