Buying Insurance Online

[AIRECS]

See below. Would like to know everyone's thoughts?

Hey Americans here is an idea! We are going to make people get licensed to sell insurance so they can advise their clients properly on how to insure their assets. However if the client wants to go on the Internet and purchase insurance coverage himself without getting a license they can. Does everyone not get the irony in this! Why do we pay licensing fee's every year and continuing Ed to educate American people about insurance? Think about it, the departments of insurance (state) are saying you need to take and pass this test to sell insurance, but everyone else that buys online can just By-pass the state laws and sell insurance to themselves! Think long and hard about it. This is the real issue, if you can't tell it gets me worked up!

 

[pcbinsurance]

That's total BS. When you buy online, you're buying from a licensed agent, not yourself.

 

[Waldo]

Pcbinsurance, if they never speak to an agent and don't read a disclaimer then essentially they purchased their own policy without any insurance education. AIRECS is making a statement about how direct quote and binds which bypass our commissions is a practice that calls into question why his state is so strict on licensing. Or so I assume, which I can see the frustration and relate to, however that's just the direction things are going.

 

[DHK]

Depends on the website and the type of insurance you're talking about.

For example: Esurance.com is a "do it yourself" type of service, but all policies issued are in accordance with state minimum laws. Esurance (now a division of Allstate) is the insurance company and people can buy from them directly... just like people can file their own taxes using TurboTax online, or do their own legal work using LegalZoom.

Whether they understand what they are doing and why (or not)... well, that's a completely different subject.

Nick Murray called these people the "Screw-it-yourself'ers" and their favorite phone number is "1-800-NO-HELP" (no help meaning no 'advice' not no service).


Don't worry about what anyone else is doing. Focus on the value you bring to the prospects and clients that will engage with you. Life's too short to worry about what everyone else is trying to do.

 

[LGilmore]

DHK spot on.

Those who over worry about others and other things don't last in this business. Insurance in my years has never been an industry that doesn't change. Things come and go. Spend too much time worrying and you end up broke.

 

[ncagent83]

I believe that one day, people will realize how bad of a deal it is to buy online & there will be more folks to go to agents. Maybe it's wishful thinking, idk.

 

[DHK]

We fix $6 Haircuts!!! LOL

Always remember: buy cheap, buy twice.

 

[Heather]

Had a customer call me liar say I was cheating him I guess he found a better rate on-line. I guess since there was no agent involved there was no one to remind him about the auto loan and comp/collision/glass coverage. He tried calling in a claim and getting a rental when all he had was state min. liability. His wife was pissed, now she handles the insurance right here at my office. But they still blew their savings on a car accident.

 

[djs]

Doing stuff for yourself rarely requires a license.

You can cut your own hair, you don't need a cosmetology license (not recommended though)
You can sell your own house, you don't need a real estate license.
You can do construction in your house without a general contractor license (permit still required though).

There are many things that are self service that you can do on your own. Doesn't make it practical, but, insurance is really becoming a commodity product, making online sales a reality moving forward. Learn to adapt.

Heck, you can even be your own lawyer in court without a law degree or law license.

Now, you can't be your own doctor and write your own prescriptions, so there are limits I guess.

Dan

 

[indienoise]

Someone who puts so little value on such an important thing that they would go online and buy a policy on a website to save $10/month, is not the kind of customer I'm willing to fight for. Heck, I'm not willing to fight for it, whether they purchase online or not.

I just talked to a nonstandard customer about 30 minutes ago, actually. She has 3 months of continuous coverage, and informed me she switched to Nationwide and they want me to fax them, in her words, "something, I don't know, about my old insurance". I can see clearly where this is going, as you probably can as well, and in 45 days, she will sorely regret this decision she made with a pushy captive who is so hungry for a sale they can't see the forest for the trees, and is just writing bad business that won't last. I was that guy once.

I might consider writing her again if she comes back, but I will spend exactly zero effort going after someone like that. Move on to a better prospect.