Farmers Insurance to Cut Commissions and Increase Bonus.

[todd02]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

This conversation got too boring too fast.

Y'all took this to a new passionate place like a bunch of ReInsurance/ tech Geeks!

I stopped reading, but if I have to choose a side, Ins1478 usually seems to fall on the correct side of the line.

but VolAgent is usually pretty spot on too....and in a less offensive way....I am not sure if those two fell on he same side the line....If not I'll got with agentMVP. Seems like that is going to win in the end anyway.....

Guys it's as simple as this... for the simple minded I had my designer create a picture. As you can see MVP looks at Multiple things that occur for each prospect within your entire pipeline. Instead of employees calling random lists. It's efficiency. Especially when a accident falls off a prospect and you can steal the prospect mid-term from the competition. Also rate fluctuations are tracked. In our area it's a big deal. For instance Safeco took over 100% rate increase this year in auto. So any of my pipelined prospects who have Safeco got ranked much higher and are easy to steal at renewal. Again renewal gives points in the algorithm. Its the exact same thing as an assembly line. It's more EFFICIENT...

My new producer sold 46K in premium this month. All she did was sit down and start calling from the top down. No insurance experience. Now you can hire staff when your pipeline can support someone. When they start they are much more successful as they have a system and process in place.

Ins82 the reason Tech doesn't stick is to run a software company is stupid expensive to run. You have to build something that gets the backing of heavy hitting investors. Also this tech was designed by an Agent and built by Oracle Engineers. First time ever a Insurance specific sales tool was designed by a successful Agent but built by industry leading Engineers that also uses Machine learning and insurance specific algorithms.

I guarantee you if you saw my sales presentation you would buy it for your Agency. We can't even keep up with the demand of Farmers Agents for on boarding right now.

Then we also integrated the entire Texas drivers license and vehicle title registration database. One click and you can see every drivers license, name, DOB for every house hold member. If a customer of our users buys a boat they get a cross sell alert. Any vehicle that's titled alerts the user. Never miss a cross sell opportunity again.

You can text a quote, and SMS chat. We can even bind insurance over text because we cover E&O by storing history of everything for each prospect.

How about smart drip Texting and mail to prospects you're competitive with instead of randomly everyone? Ya we can do that too.

Mic drop***

 

[shawnmwalker]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

Seems like Ezlynx Management system has much of that functionality as well.

 

[whatyouwantfinally]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

Seems like Ezlynx Management system has much of that functionality as well.

And not just them. I can do all that and then some (a lot, actually) with the software I've been using for years. Hell, you could do must of what he's describing with anything that has a decent calendar feature.

Also, it's incredibly inexpensive to run this sort of software company. It doesn't require investors and shouldn't take years to develop. Once developed, the only costs are coders to maintain/scale it and add features, servers and sales/support staff. Which is why they're often started by programmers, they can do it with no cost at all initially outside of their own time.

 

[todd02]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

No EzLynx does not do what we do... This isn't Sorting... This is insurance based, machine learning, scoring. It fluctuates daily. EzLynx doesn't look at the competitive aspect of you vs their current carrier. EzLynx you have to manually tell it to do something for everyone in your pipeline. MVP is automated.

Face palm*** It's okay, blockbuster didn't see netflix coming. Sears didn't see Amazon coming... Some of you just don't see what's coming.

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And not just them. I can do all that and then some (a lot, actually) with the software I've been using for years. Hell, you could do must of what he's describing with anything that has a decent calendar feature.

Also, it's incredibly inexpensive to run this sort of software company. It doesn't require investors and shouldn't take years to develop. Once developed, the only costs are coders to maintain/scale it and add features, servers and sales/support staff. Which is why they're often started by programmers, they can do it with no cost at all initially outside of their own time.

All i have to say is... "LOL"

Maybe if you are running an excel spreadsheet. A Data Scientist to run our machine learning runs between 180-200k a year in payroll.

Salesforce has no payroll.....? LOL!

 

[whatyouwantfinally]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

All i have to say is... "LOL"

Maybe if you are running an excel spreadsheet. A Data Scientist to run our machine learning runs between 180-200k a year in payroll.

I'm sure Microsoft has no payroll expense right... hahahaha dying.

First, you're not talking about Microsoft here.

Second, if the programmers themselves are the ones doing it (typical), the expense is only time. The one I use was started by people who had no money at all and took no investor $.

But even in your case, that's a really small expense once you have agents signed up. A few million (or far more by your predictions) a year off a "machine" that costs $200k to run is an extremely high profit margin.

 

[insurance1822]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

I'm not dumb & I see what's coming. I put my agency for sale on the market today & I'm getting out of insurance. I'm going to accept the AgencyMVP barcode on my forehead in exchange for food & shelter in the post-agencymvp apocalyptic world we shall soon live in.

 

[todd02]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

I'm not dumb & I see what's coming. I put my agency for sale on the market today & I'm getting out of insurance. I'm going to accept the AgencyMVP barcode on my forehead in exchange for food & shelter in the post-agencymvp apocalyptic world we shall soon live in.

Sorry not accepted.

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First, you're not talking about Microsoft here.

Second, if the programmers themselves are the ones doing it (typical), the expense is only time. The one I use was started by people who had no money at all and took no investor $.

But even in your case, that's a really small expense once you have agents signed up. A few million (or far more by your predictions) a year off a "machine" that costs $200k to run is an extremely high profit margin.

It's not a "fixed time" cost. A good software company grows and enhances their product and continually builds new versions. Average Senior level engineer is 120k a year. We have 6. I am about to hire on another 15 once we close a major round of funding.

Some other cool things that we are looking into is voice recognition analytics. It can transcribe 99% of all phone conversations and analyze what the best producers are saying that close sales. Huge for call centers like progressive and geico.

 

[indienoise]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

Some other cool things that we are looking into is voice recognition analytics. It can transcribe 99% of all phone conversations and analyze what the best producers are saying that close sales. Huge for call centers like progressive and geico.

You can accomplish what freaking GOOGLE hasn't even figured out yet???
Yep, we are outside the realm of reality now. Sorry dude. Either you've really got stars in your eyes and just don't know it yet, or you're puffing air.

 

[todd02]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

You can accomplish what freaking GOOGLE hasn't even figured out yet???
Yep, we are outside the realm of reality now. Sorry dude. Either you've really got stars in your eyes and just don't know it yet, or you're puffing air.

Why do people talk out of their butts? Google attempted to do voice pattern recognition using voicemail messages. 30 second to 120 seconds of a voicemail, which voice mail is not a detailed voice or sales topic heavy content. You'd be suprised at how "dumb" smart people are when attempting to revolutionize an industry they don't fully comprehend. Tech people aren't sales people. But put an amazing sales person with a tech genus and magic happens. Like real magic.... MVP has unicorns.

Going back to the tech threads...

 

[indienoise]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

Why do people talk out of their butts? Google attempted to do voice pattern recognition using voicemail messages. 30 second to 120 seconds of a voicemail, which voice mail is not a detailed voice or sales topic heavy content. You'd be suprised at how "dumb" smart people are when attempting to revolutionize an industry they don't fully comprehend. Tech people aren't sales people. But put an amazing sales person with a tech genus and magic happens. Like real magic.... MVP has unicorns.

Going back to the tech threads...

Google voice is but one of many examples. Some technology is kinda okay if it learns one individual well enough, but different voices, accents, and people who just plain don't enunciate? Chalk me up for I'll believe it when I see it.

Also, the more someone attempts to suggest they can solve EVERY problem, the more skeptical I become. I'm sure you understand.

Carry on.