Individual health insurance marketing

moonlightandmargaritas · 06-27-2008, 03:54 PM

Originally Posted by ins4life

Go target small businesses and hand out a flier to the owners and tell them you can provide health insurance for a low cost.

Tell the owner you can start an HSA so the can deduct the premiums of his income tax

Over the years, I've found that business owners are not necessarily interested in the lowest cost, but the best value. When you sell on cost, there's always someone cheaper coming in behind you.

Be careful about giving tax advice, especially if it's wrong! You'll be exposed very quickly.

A business owner does NOT have to have an HSA to make his/her health insurance premiums tax-deductible.

ssobel3038 · 06-28-2008, 10:22 AM

Does anyone have any LI or mp fliers or door hangers they wish to share?

Reuben · 09-06-2008, 12:00 AM

Originally Posted by healthagent

Here's some marketing 101 for health insurance.

2) Cold call telemarketing
Buy a list for a variety of internet sources like USA data and start calling: "Hi, I'm John Petrowski from the Health Solutions Agency. I'm letting business owners like yourself know about a variety of affordable health insurance plans through companies like Aetna, Time, United Healthcare and Blue Cross. Do you have your own coverage or group? Look for a 2% to 3% response.

3) Shared internet leads
You can buy leads from $6 to 15% a pop with $8 being the standard price. Look to close 1 out of 15 if you're new. If you're looking for 4 to 5 deals per week you'll need at least $500 per week. You'll also need that every week for at least a month before commission roll in. Since you'll be competiting with seasoned agents you'll really need to be on your game for this method to work.

4) Hire a telemarketer
Put an ad out on Craigslist and hire an in-house telemarketer. Have her/him come over to your place, pay about $12 per hour flat and about 4 hours per day of calls should do it. That should generate 8 solid leads and a deal a day.

Let me bump this one up a bt and ask a rather basic question, one that deals with the actual script that the agent/call center person uses when solciting over the phone.

What would the telemarkers say?

I'm looking to get out of the office and do some b2b solcits, I have little choice given the limited number of personal friends I have in this country, I moved here from the UK in March.

Thanks to all here and elsewhere, who've been tutoring me over the past few months.

This is a treasure trove of knowledge.

InsuranceBenefitsGroup · 09-06-2008, 01:29 AM

Your cockney alone will get attention, as I am sure you have already noticed. You can never mind the bullocks, here's YOU. Don't mean to patronize you, however Americans are suckers for your gab.

Just explain the benefits and how they'll benefit the prospect.....they'll be eating out of your hands. Envy...

PS- Ryanair ROCKS!!!!!!!!

Cheers,

Michael

salpro22 · 09-06-2008, 03:03 AM

Originally Posted by Reuben

Let me bump this one up a bt and ask a rather basic question, one that deals with the actual script that the agent/call center person uses when solciting over the phone.

What would the telemarkers say?

I'm looking to get out of the office and do some b2b solcits, I have little choice given the limited number of personal friends I have in this country, I moved here from the UK in March.

Thanks to all here and elsewhere, who've been tutoring me over the past few months.

This is a treasure trove of knowledge.

Did you sell any supplemental policies in the UK?

michaelsavannah · 11-29-2008, 04:47 PM

HealthAgent, great post. My experience and results are highly correlated with what you described.

Hiring a telemarketer locally is great if you have the office space (and insurance) to cater to an employee. But if you're home-based, consider targeting WAHMs or retirees with a home-based telemarketing gig. This opens up your geography of talent and tends to give you a pool of people with a predisposition for good work ethic.

Also, consider paying commission only (maybe even add in a graduated bonus structure). This ensures you are only paying for results (e.g., pay per qualified lead/appointment, or pay per application submitted, or pay per policy issued, or pay per policy issued and on the books for 6 months minimum, or any combination of these).

somarco · 11-29-2008, 04:53 PM

Be careful with incentive comp to a non-licensed individual.

michaelsavannah · 11-29-2008, 04:56 PM

"passive systems to support your aggresive marketing.

Such as,
1. Yellow Pages
2. Letters to leads that didn't buy and then the re-call.
3. Post Cards to prospects that didn't make initial apointment.
4. Ad's or submit articles to Trade Magazines and local papers.

As always activity is the key."

Yes, I agree with activity is critical to your continued, consistent success. But your post doesn't seem specific to individual health insurance marketing. In my experience as well in the experience of dozens of fellow GAs and sub agents, the ROI is simply not compelling enough for yellow page advertising or ads in trade rags as you suggest.

CHUMPS FROM OXFORD · 11-30-2008, 08:07 PM

My ROI with Yellow Pages has been fabulous. One sale. No cost.

I created a free online ad. One problem though. I get (AND I AM NOT EXAGGERATING) three calls each week from the Yellow Pages wanting me to convert to a paid ad.

cdpowell · 12-19-2008, 12:16 AM

After trying many different marketing techniches, I have found hiring a telemarketer to be the most profitable. However, finding the quality telemarketer is extremely difficult. The turnover with people who do this unbelievable.

Markingriffin · 12-21-2008, 04:40 PM

Originally Posted by cdpowell

After trying many different marketing techniches, I have found hiring a telemarketer to be the most profitable. However, finding the quality telemarketer is extremely difficult. The turnover with people who do this unbelievable.

Give us more details. How much do you pay them?

moonlightandmargaritas · 12-21-2008, 05:27 PM

Originally Posted by michaelsavannah

As always activity is the key.

You could make this more effective by amending it to: the right activity is the key...

cdpowell · 12-22-2008, 11:46 AM

Originally Posted by Markingriffin

Give us more details. How much do you pay them?

Excellent question. If you want to do it on the cheap, have the telemarketer work from their home and pay them $10 per appointment and $50 per sale. You can buy a list of businesses for them to call off of. If you dont want to pay for a list, you could have them qualify a list from yellowpages.com
- - - - - - - - - - - - - - - - - -

Originally Posted by moonlightandmargaritas

You could make this more effective by amending it to: the right activity is the key...

I absolutely agree, working smart is much more important than working hard. Although both are important.

moonlightandmargaritas · 12-22-2008, 01:30 PM

Originally Posted by cdpowell

pay them $10 per appointment and $50 per sale

If you pay them "per sale" they have to be licensed. If you paid them per "application", they wouldn't.

cdpowell · 12-23-2008, 12:43 AM

Originally Posted by moonlightandmargaritas

If you pay them "per sale" they have to be licensed. If you paid them per "application", they wouldn't.

Whatever, per application. Call it a bonus. There is no commishion splitting thus no infraction. I hope I do not get in trouble for giving all the girls in my office cash Christmas bonuses.

the93rdkid · 01-08-2009, 05:39 PM

Hello. All very interesting reads. But it seems most of you work locally, which is difficult for me becI live n NY. Any experience with a national approach? I saw this thing from USABG which hooks you up so that you can sell in other states. Any word on them?

ChrisMiller · 01-08-2009, 07:11 PM

Hi all-

Read though the answers on this thread and for what it's worth...consistency is the key in whatever methods you choose.

Even as a Fixed Annuity Marketer, leads are always an issue (in any business like this). I watched the ongoing marketing struggles at the Insurance Agency I had worked at prior to moving into fixed annuities.

Be consistent in your efforts.
Follow though is essential.
Practice the KLT Factor--be someone they can know-like and trust. Find a method that works for your style, work it, rinse, repeat.
Don't take "no" personally.

Just don't put all you eggs in one marketing basket though. Use multiple marketing platforms both online and offline to drive traffic to your sites (or your office) whatever works for you.

It's going to be a fine 2009! Much success to you all!

Chris Miller

BTW-Healthagent, that was a very informative post!

ccreel · 02-24-2009, 01:33 PM

Does anyone mentor new agents who want to get into the
Guaranteed issue health insurance. Like the AIM health plans
Or AIG's plan.
Thanks in advance for your help.

somarco · 02-24-2009, 03:46 PM

AIM is junk as are most GI plans.

IRG/AIM Health Solutions

J-Ro · 02-24-2009, 08:35 PM

Originally Posted by cdpowell

Excellent question. If you want to do it on the cheap, have the telemarketer work from their home and pay them $10 per appointment and $50 per sale. You can buy a list of businesses for them to call off of. If you dont want to pay for a list, you could have them qualify a list from yellowpages.com.

When hiring a local telemarketer, should they be given a list of qualifying questions? If so, what would it consist of? I thought I had found qualifying ?'s before but I don't know where.