Insurance Agent Forum

[cjones]

Im a new captive agent for a p&c company that has very competetive rates but does little to no advertising in my area. I have been brainstorming and trying to come up with ideas to get my business off the ground. We all know that you're not gonna do that by setting in the office waiting on the phone to ring. Before I took this position I interviewed at Edward Jones. They require their people to go door knocking every day until they get 25 leads. I was thinking about implementing this process into my business. Seems to me if someone is willing to invest their life savings with a stranger who knocked on their door why wouldn't they do the same with their auto and home insurance? Has anyone tried this before and have you had any success?

[djs]

It depends on the neighborhood... a lot. I would not do this in downtown Oakland.

I would suggest you find something to offer, so its not a pure sales knock, but a relationship knock.

What to offer? This will depend a lot on the neighborhood. I'd be tempted to ask a bunch of merchants in the area for coupons for stuff and then go out almost as a welcome wagon, but trying to introduce your business as part of the community.

The pitch (wordsmith this some) would be something like:
The local merchants appreciate you supporting the local community and would like to present you with this coupon pack to show their thanks for your business. I'm a new business owner in town, and look forward to working with you in the future on protecting your assets. When your home policy comes up for renewal, can I apply for the job as your personal insurance agent?

By the way, one of the 'coupons' should be a little mini-resume of yourself.

I've never done this, thought about it, but door knocking isn't my thing.

Dan

[briko3]

Why not call to set up a small meeting. The good thing about calling is if they're not interested, they're never going to remember you 3 months from now which gives you the opportunity to door knock to pick up the ones that weren't interested.

[VaDwayne]

Originally Posted by briko3

Why not call to set up a small meeting. The good thing about calling is if they're not interested, they're never going to remember you 3 months from now which gives you the opportunity to door knock to pick up the ones that weren't interested.

I would suggest that you invest in a MOJO dialer and talk to about 5 times as many people as you will door knocking.

[stormtracker]

Do a search on leads and prospecting. Been covered extensively.

[supersalesman]

It works.....I do it every day and since the beginning of March I've added 120 households (479 policies) to my book of business. Look at it this way. You should have a lot of passion and conviction if you can save someone money on a product that they are required to have. My advice is what Nike says: Just do it!....You'll be amazed at how open minded people can be if you believe enough in what you can do for them.

[cjones]

Thanks for the responses. We are expected to have great weather all week so what better way to enjoy it than by door knocking

[healthagent]

When FIOS came into our area last year they went door to door. Not only was it obviously a lot more effective than telemarketing but far cheaper. All the reps were on commission (like you are) which means no account = no pay. I personally think residential telemarketing is deader than a door nail.

Many times I've want to put a small field force together to generate both residential and business leads. I ran two cold-call outfits so I know how effective this is - BUT it's a huuuuuuge headache to manage.

I'll give you a quick tip if you decide to do this a business practice. Check to see if you need a solicitation permit for that county. If you do it's well worth the modest filing fee since inevitably someone calls the cops.

If the cops show up and come to find you need a permit (you're soliciting even if you're not actually selling anything) and the cops show up 98% of the time they'll just warn you. 2% of the time you'll get "rambo" who will write you a summons to appear.

I would also heavily suggest hitting working class areas. You obviously don't want lower class and upper middle to upscale results are very poor.

[ticker_shuffle]

Originally Posted by djs

It depends on the neighborhood... a lot. I would not do this in downtown Oakland.

I would suggest you find something to offer, so its not a pure sales knock, but a relationship knock.

What to offer? This will depend a lot on the neighborhood. I'd be tempted to ask a bunch of merchants in the area for coupons for stuff and then go out almost as a welcome wagon, but trying to introduce your business as part of the community.

The pitch (wordsmith this some) would be something like:
The local merchants appreciate you supporting the local community and would like to present you with this coupon pack to show their thanks for your business. I'm a new business owner in town, and look forward to working with you in the future on protecting your assets. When your home policy comes up for renewal, can I apply for the job as your personal insurance agent?

By the way, one of the 'coupons' should be a little mini-resume of yourself.

I've never done this, thought about it, but door knocking isn't my thing.

Dan

I thought if it, suggested it to my managing partner and it got poo-pooed as unprofessional. I can see the point, but I can also see the neighborhood merchant strategy working, too. It was suggested, you drop off some sort of "one sheet", but I can't see how this is more professional. A quick knock and introduction is something I was thinking of doing to everyone within 3 mile radius of where I live as a starting point for my independent operation. Hand them a refrigerator magnet and just let them know if they ever have any questions, ever, to give you a call. "I am better than 'like a good neighbor', I am good neighbor."

The best part will be the exercise!
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Originally Posted by healthagent

I would also heavily suggest hitting working class areas. You obviously don't want lower class and upper middle to upscale results are very poor.

Good tip and very encouraging for my neighborhood! My prospecive customers have mortgages that would only require a relatively affordable policy with easier underwriting and exam. Getting me all fired up!
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Originally Posted by healthagent

I would also heavily suggest hitting working class areas. You obviously don't want lower class and upper middle to upscale results are very poor.

Good tip and very encouraging for my neighborhood! My prospective customers have mortgages that would only require a relatively affordable policy with easier underwriting and exam. Getting me all fired up!

Edit: by the way I am referring to life, did not mean to hijack

[1manshow]

I'd be interested to hear how the soliciting goes for you and what "pitch" worked the best.