Targeting Non Profits
- Thread starter 1manshow
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I don't have a 'handle' on this market, but all the non profits I have are with Philadelphia. They really cater to that market, offer a great selection of marketing material, and have a automatic and easy renewal process. I would avoid carriers that make it difficult for the renewal.
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ANI is a RRG.
Why go through a wholesaler to get to a RRG with no financial backing when Phly is A++ rated paper and 18% commission....
Not saying judge by commission but with Tokio Marine owning Phly now they can do a lot of things and are sitting on a fountain of cash .. they are writing gun manufacturing now also.
Ive been looking into the non profit niche (because I know a number of people in this world).
and I noticed many of them go through Fractured Atlas.
What exactly are they?
Are they just a broker that has niched down to non profits by offering other services?
Kind of like AARP...really good marketing to get people to think they are an organization thats fighting for the "little guy".
or do they have policies available that regular agencies wouldnt be able to get?
Im a new broker so im just trying to wrap my head around all of this.
and I noticed many of them go through Fractured Atlas.
What exactly are they?
Are they just a broker that has niched down to non profits by offering other services?
Kind of like AARP...really good marketing to get people to think they are an organization thats fighting for the "little guy".
or do they have policies available that regular agencies wouldnt be able to get?
Im a new broker so im just trying to wrap my head around all of this.
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- 252
The Mrs has worked for Non Profits for the last 15-20 years, let me share a couple things.
1. Non profits like to fleece this stuff out to folks who bring them money. Let's assume there is a Board since most non-profits have them...they typically are made up of affluent types who have a lot of money and too much time on their hands.
-I hate to be a broken record but based on the feedback many in here post, this doesn't seem like the best fit for new agents. The people involved in non profit have a lot of money and when I post about going after the affluent in here I typically am met with groans and eye rolls
2. I live in the Palm Beaches where there is fundraising event after fundraising event, but understand many have hefty door fees, that's how these places make money. Most of the non profits have a network you would give your eye teeth for so perhaps the door fee if there is one is well worth it.
April 1st I am attending an event at The Breakers in Palm Beach, black tie $600 per ticket just to get in. Most of the donors are buying entire tables for $5,000-$10,000...would you be comfortable at that event?
3. MAKE FRIENDS WITH THE GIFT OFFICERS in those non profits you are targeting, they have a lot of useful information and also are well connected in the community and could be a potential resource for you if you handle them the right way.
-The Gift Officers tend to be real people who make a decent salary and income, many in the 6 figures but they are normal folks away from the office and you can have real conversations with them. They won't be able to buy insurance from you but you can trade notes with them. If you had a Gift Officer INTRO you to the BOARD, that would be a huge way in for you if you can pull it off.
-The more you bring to the table and can do for the non profit the more likely you are to land their business IMHO(in my humble opinion)
Ask any questions you like, I'll try to be as pretentious as I can
1. Non profits like to fleece this stuff out to folks who bring them money. Let's assume there is a Board since most non-profits have them...they typically are made up of affluent types who have a lot of money and too much time on their hands.
-I hate to be a broken record but based on the feedback many in here post, this doesn't seem like the best fit for new agents. The people involved in non profit have a lot of money and when I post about going after the affluent in here I typically am met with groans and eye rolls
2. I live in the Palm Beaches where there is fundraising event after fundraising event, but understand many have hefty door fees, that's how these places make money. Most of the non profits have a network you would give your eye teeth for so perhaps the door fee if there is one is well worth it.
April 1st I am attending an event at The Breakers in Palm Beach, black tie $600 per ticket just to get in. Most of the donors are buying entire tables for $5,000-$10,000...would you be comfortable at that event?
3. MAKE FRIENDS WITH THE GIFT OFFICERS in those non profits you are targeting, they have a lot of useful information and also are well connected in the community and could be a potential resource for you if you handle them the right way.
-The Gift Officers tend to be real people who make a decent salary and income, many in the 6 figures but they are normal folks away from the office and you can have real conversations with them. They won't be able to buy insurance from you but you can trade notes with them. If you had a Gift Officer INTRO you to the BOARD, that would be a huge way in for you if you can pull it off.
-The more you bring to the table and can do for the non profit the more likely you are to land their business IMHO(in my humble opinion)
Ask any questions you like, I'll try to be as pretentious as I can
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The Mrs has worked for Non Profits for the last 15-20 years, let me share a couple things.
1. Non profits like to fleece this stuff out to folks who bring them money. Let's assume there is a Board since most non-profits have them...they typically are made up of affluent types who have a lot of money and too much time on their hands.
-I hate to be a broken record but based on the feedback many in here post, this doesn't seem like the best fit for new agents. The people involved in non profit have a lot of money and when I post about going after the affluent in here I typically am met with groans and eye rolls
hilarious...
I read some of your post on the affluent, and agreed with you...but maybe thats the newbie in both of us.
But what you were saying about the affluent is right in line with what people like Dan Kennedy preach.
Anyway...my girlfriend has been running a small non profit arts organization for the past 8 or so years...so that would be my in into that world.
What youre saying about the crowd is right...ive been to several functions, and heard stories about their board of directors...and yes, a lot of rich people w/ nothing to do and a lot of opinions.
BUT...im perfectly fine with dealing with those personalities as long as it leads to money.
- 252
Yo Yo Furly!
-Agree with your post and I can see you understand the mindset. I would encourage you to dive in to that market.
-Go to as many functions as you can. There are plenty of Freebies or meetings, try to sign up for newsletters and any emails you can.
There is a non-profit in South Florida called Munckin Fun for example, they have a newsletter or weekly email that hits 110,000 moms n dads...the cost to advertise or send out an email blast to that 100,000+ in South Florida is something along the lines of $1,500. They track everything including folks hitting on your website, etc...
Some non-profits are very advanced, others are in the dark ages.
I would be looking at these organizations more for the leads you will make than actually writing the insurance policy for the non-profit...EXAMPLE-Board has 5 members, all of them own big ranch homes, you end up writing a couple of their home policies that are about 3-5x the avg going rate, these would be $1 Million homes and up types...then you end up writing a few small business policies or 2nd homes these folks own...it adds up but I would not focus on the Non-Profit Insurance Policy and would pursue high value prospects within these organizations instead.
Awesome thread, thank you for allowing me to post all this. Hope some of it helps.
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