Scroll down for a discussion on Seminar Idea within the General Insurance Agent Discussions.
I have been considering putting on a seminar in the Phoenix area for individuals wanting to become insurance agents, or current agents looking for ways ...
I have been considering putting on a seminar in the Phoenix area for individuals wanting to become insurance agents, or current agents looking for ways to be more productive with better time management. I plan to cover:
Should you be in insurance (realistic expectations)
Setting up shop (computer programs, excel spreadsheets for lead tracking, profit and loss calculations)
Appointments- Captive vs Independent
Leads- Cold Calling, Internet leads, B2B, telemarketed
Commissions- As Earned vs Advances
Service after the sale- How to increase retention.
Marketing- Things to try.
Each participant would get a binder filled with a copy of the seminar and several useful forms. Including a disc with my tracking spreadsheets. The actually presentation would be about 2 hours with an additional 30 minutes for question and answer.
What do you think would be a reasonable charge for this information?
What information would you want covered most?
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Steph
My job is so secret I don't even know what I'm doing!
Personally I think that is a great idea for people looking to become an agent.
But isn't that what they can get from the carriers or FMO's for no cost?
I have been thinking about starting an insurance networking group, for agents to get together and chat about insurance.
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"Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." Ronald Reagan
The real benefit is talking openly about all carriers without having an agenda. I think it would be invaluable to basically go over A to Z about being an independent insurance agent.
Price point is very hard and to be honest you'll gonna have to do trial and error. It's going to be a price that makes it worth your time, gives value to your client and it's so high that no one attends.
I know seminars that run thousands of dollars. I also know mini-seminars that just run a couple hundred.
Personally I could have easily paid $500 to get all the information I'd need to be a successful independent agent. My recommendation would be a free into 1 hour seminar with food where you'd give everyone your pitch. I think you need to build value in your services and establish a reputation for yourself. I'm not sure just mailing out invites that charge for the seminar will work. Usually the only people who mail and charge are well known speakers.
Step 1: Send about 5,000 mailers to agents
Step 2: Invite them to a free seminar for becoming an independent agent
Step 3: Run the seminar focusing on the value of what you have to offer. At the end pass out sign-up forms complete with credit card authorization to interested people.
------------------------------------ Health Insurance Agents: Training, Support, Discounts, E&O for $440 www.ihiaa.com
I have been considering putting on a seminar in the Phoenix area for individuals wanting to become insurance agents, or current agents looking for ways to be more productive with better time management. I plan to cover:
Should you be in insurance (realistic expectations)
Setting up shop (computer programs, excel spreadsheets for lead tracking, profit and loss calculations)
Appointments- Captive vs Independent
Leads- Cold Calling, Internet leads, B2B, telemarketed
Commissions- As Earned vs Advances
Service after the sale- How to increase retention.
Marketing- Things to try.
Each participant would get a binder filled with a copy of the seminar and several useful forms. Including a disc with my tracking spreadsheets. The actually presentation would be about 2 hours with an additional 30 minutes for question and answer.
What do you think would be a reasonable charge for this information?
What information would you want covered most?
There went my idea.
I would charge participants a nominal $1000-$2000 per event plus on-going hourly consultations @ XXX amount per hour. Talk to Frank about including his program in the seminar to help keep track of clients and let things rip. I love the idea!
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[COLOR=#000066]"Tell me and I will forget. Show me and I will remember. Involve me and I will understand." Confucius
Steph,
Awesome idea. I especially like Salpro's idea of including YIO. I would even fly to Phoenix to be a guest speaker.
Currently there is no place an individual can go to get straight answers to questions about what to expect or how to really get started except here. All of the "insurance people" are going to lead them to believe that they can make $100,000 the first year sitting at home in their underwear. I still can't even do it wearing Levi's. LOL
I see several hurdles to overcome. The first is the cost, regardless of how much it is. If you read the posts by members thinking of getting into insurance, you will see that most of them don't have very much money to work with beyond having a cushion to live on until they start producing. Some don't even have a "cushion".
When I was hiring and training agents I "loaned" a number of agents money for gas and other expenses just so they could go on appointments. I don't think you will find a lot of them flush enough to pay enough money to make it worth your time. Especially the $1,000 to $2,000 Salpro suggested. That would be a dream come true if it could be done.
What you are proposing is, in an informal way, what we are doing here. I have talked to several of the members numerous times answering questions about the senior market. I'm sure you and others have helped new agents get started also.
I believe you are going to have a tough time convincing new agents that the information they can get for "free" from a marketing organization or from a broker is not really going to be as valuable as what you could provide them with. Those of us who have "been there, done that and have the t-shirt" know better. They, for the most part, won't realize that until they have already gotten screwed. Life's tuition is very expensive.
In my experience what usually leads to the failure of a new agent is three fold. They are not taught to prospect, no one helps them put together a presentation that fits their personality and they are totally unorganized and don't have a clue where to begin. They keep copies of apps and call a "lead" a few times and then throw the card in a box. Everyone knows that when a "lead" gets "cold" it is worthless.
This is an area where they need the most help and where someone like you could provide an extremely valuable service. They have to be taught to deal with objections, how to ask for the money and how and when to follow up. Those are the things they don't get from general agents who just want a large percentage of their commission and put the business in the agency name, not the agents. They really don't care if the agent is successful. All they do is lie to a new guy. If the new kid writes one app that is money in their pocket.
A program like the one you are talking about would make so many new agents successful but I don't think you can convince them to pay you money to do it. However, I really love the idea and would be more than happy to lend a hand in helping you get it started if you think there is anything I could "bring to the table". I would even do it for "free". lol
I think I mentioned in a thread a while ago that this board should put together a program for new agents. That, would be an awesome seminar.
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Here is what I have decided. I am not going to market to the individual agents. My goal is to find the GA's and MGA's that put multiple agents under them. Contact them and sell them on the idea of having me come to thier office and "train" thier new agents. I'll charge a nominal fee for my services and will be able to test out my presentation. Then after I have established a reputation with these groups I will find a reasonably priced location and have a real seminar. My goal right now is to find a few "Agency Managers" in my area that are trying to build thier business by having agents under them. My fees will be $1,000 for just the presentation and an additional $50 per participant for materials. I think that I can find a few managers willing to pay me to train thier agents. A manager would make that money back with only 2-3 sales. What do you think?
Were you joking when you said "when a lead gets cold its worthless"?
We should all plan to meet somewhere. I'll bring the beer and the boxing gloves
Yep, sure was, I should have put "worthless" in quotation marks. That as you well know is a common assessment by agents, especially new ones.
I recycle my leads all the time.
I’ll bring the pretzels and tomato juice for the "southern boys". I know a lot of guys who live in the south that mix tomato juice with their beer. Is it a southern thing? I had never heard of it until I went to college. I'm from "up north".
All kidding aside, I really think that this group could put on one hell of a seminar.
Here is what I have decided. I am not going to market to the individual agents. My goal is to find the GA's and MGA's that put multiple agents under them. Contact them and sell them on the idea of having me come to thier office and "train" thier new agents. I'll charge a nominal fee for my services and will be able to test out my presentation. Then after I have established a reputation with these groups I will find a reasonably priced location and have a real seminar. My goal right now is to find a few "Agency Managers" in my area that are trying to build thier business by having agents under them. My fees will be $1,000 for just the presentation and an additional $50 per participant for materials. I think that I can find a few managers willing to pay me to train thier agents. A manager would make that money back with only 2-3 sales. What do you think?
I wish you well. That is something I have though about doing for a long time. Please let us know how it goes.
I kind of "tested the water" several years ago and got turned down cold. I had the feeling that they wouldn't let someone else do it regardless of the cost.
Most of them said they wanted their agents trained their way and felt that they could do a better job than I could. Maybe they can. However, I wouldn't lie to them. I think that was their biggest fear, that I would tell them the truth.
Why not just put them under you? As in free seminar and training in exchange for the overrides?
That would be my suggestion, however, I also tried that and I discovered that I really don't make a good baby-sitter.
Like John when he said he tried to put agents under him, my production went down and my stress level went up. I made more money with less stress just selling and not trying to manage.
That would be my suggestion, however, I also tried that and I discovered that I really don't make a good baby-sitter.
Like John when he said he tried to put agents under him, my production went down and my stress level went up. I made more money with less stress just selling and not trying to manage.
That is a valid point, yet in other fields we trained and sent, if they were bothersome type they were told to leave. In other words you set the parameters well in advance on what help they'll recieve, such as monthly or weekly meetings. If they start calling daily you would have to explain politely or not so politely that it is their business in the end and they have to work thru it with resources you would of set up or resources they can dig up. In other words, yes you would loose some Agents becuase of this factor but the idea would be to keep the "Good Ones".
That is a valid point, yet in other fields we trained and sent, if they were bothersome type they were told to leave. In other words you set the parameters well in advance on what help they'll recieve, such as monthly or weekly meetings. If they start calling daily you would have to explain politely or not so politely that it is their business in the end and they have to work thru it with resources you would of set up or resources they can dig up. In other words, yes you would loose some Agents becuase of this factor but the idea would be to keep the "Good Ones".
I totally agree. My problem was finding the two or three "good ones". During one two day period St. Louis I interviewed 21 applicants and didn't find one that I wanted.
Here are some of the reasons: I don't want to drive more than 25 miles from home, I won't go on appointments if it is real hot outside. I will sweat all over my silk blouse. I only want qualified leads where the people are ready go buy. I want someone to set up my appointments, I'm "no good" on the phone but great in person. I can only work between 10am and 3:30pm Tues, Wed and Thurs. I only want to sell from home. I don't want to put too many miles on my car. I've heard them all. All the above came from "real" people.
The only way to make it work putting agents under you is the brokerage concept of "here's you appointment paperwork - now don't call me again." You cannot actually offer detailed training and real support or you'll sink. Personal business goes in the toilet and the 20 agents you hired can't put 2 deals together in a week. When they do they charge back.
Frank nailed it on the head with the financial status of new agents. Over the course of three years of hiring a realistic number is 95% of my new agents did not have $300 a week for marketing money. 70% didn't have $100 a week and a lot were basically broke living check to check.
However, I'm sure with a proper mailing there are enough agents with money to pull off a seminar. If you took credit cards that would work better.
I totally agree. My problem was finding the two or three "good ones". During one two day period St. Louis I interviewed 21 applicants and didn't find one that I wanted.
Here are some of the reasons: I don't want to drive more than 25 miles from home, I won't go on appointments if it is real hot outside. I will sweat all over my silk blouse. I only want qualified leads where the people are ready go buy. I want someone to set up my appointments, I'm "no good" on the phone but great in person. I can only work between 10am and 3:30pm Tues, Wed and Thurs. I only want to sell from home. I don't want to put too many miles on my car. I've heard them all. All the above came from "real" people.
The list goes on and on.
What every independent agents needs to understand is they're running their own business. Think of it as a type of franchise situation - you buy a Subway and they provide the location, food, training and name. Same with being independent - you are provided with the products, training and company names.
I'm not too sure Subway corporate likes phone calls from the new owners going like this:
"This sucks. I've had three sandwich makers quit already. Also, I apparently have to advertise in local papers and offer specials. The problem is I'm dead broke so I don't have any adverting money. I also really don't like interviewing and hiring new help. I'm also being bugged all the time with small problems while I'm trying to relax at my pool. These assistant managers are real needy. To be honest, I'm really not into subs anyway. I'm more into Italian food."
Last edited by healthagent : 06-28-2007 at 12:27 PM.
I totally agree. My problem was finding the two or three "good ones". During one two day period St. Louis I interviewed 21 applicants and didn't find one that I wanted.
Here are some of the reasons: I don't want to drive more than 25 miles from home, I won't go on appointments if it is real hot outside. I will sweat all over my silk blouse. I only want qualified leads where the people are ready go buy. I want someone to set up my appointments, I'm "no good" on the phone but great in person. I can only work between 10am and 3:30pm Tues, Wed and Thurs. I only want to sell from home. I don't want to put too many miles on my car. I've heard them all. All the above came from "real" people.
The list goes on and on.
Yes, that is the headache! You simply run the promotion and seminar and if you can find one out of ten or twenty that sticks, consider yourself lucky. I'm not sure if it's a practical idea or not when it comes to Insurance and Seminars as being talked about, but I really can not see why it wouldn't work? Other Agencies, I hate to bring them up but NAA has turn over a lot of business in their Churn and Burn system, now if they offered real training and support with better products, would their business be better or worst?
Seminar Idea
I would even fly to Phoenix to be a guest speaker. 
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