Marketing to Other Agents

[midwestbroker]

I am in the senior market with Humana. Humana offers a $175 referral bonus to other agents that refer seniors to us and enroll in a Humana Medicare Advantage Plan.

In the KC metro, the 2 most popular plans, the HMO and PPO, are only sold through captive agents. PFFS and Part D can be sold by brokers.

I am looking to increase my broker referral base. I have a few brokers under me, a couple who are active, others who don't do anything with it.

If I was to come to your office, what approach would be best? What would you want to hear about it?

Thanks!

 

[Sam]

The best way is really just to open the phone book and call p&c agents. Every insurance agent is always trying to maximize their revenue and you are offering a very simple way.

 

[midwestbroker]

I have a simple approach, and when I am there they are eager to work with me.

However, to get them to actually work seems to be a challenge.

I know that some P&C agents can run an audit of their book by age. I told them to touch base with their senior clients. He can do a courtsy call and make sure they are ok with all their P&C products, and check with the Medicare products. If they have questions or want some info on the MA plans, he can refer them to me.

What is so hard about that? I know that it is work, but isn't that what they are supposed to do?

 

[Superchief]

I am working a similar plan with a couple of P & C agencies here.

I actually approached it a bit different though, maybe I'm giving away too much, but it seemed to motivate them.

One specific one though is a friend of mine, so she's biased to help me.

Again my friend is a P & C agent, but also has a Life & Health license, but she normally refers her senior clients elsewhere. I got her appointed with a couple of my favorite carriers and then offered her a 20% split on the commissions for any lead she refers to me that closes. If her lead doesn't close, she gets no money. She filtered her client database and printed me a copy on the spot. I like it, mainly because I don't have to deal with any commission accounting. Not sure if I'll offer 20% to the next guy though. Like I said, she is a close friend.