Insurance Agent Forum

[myinsurebiz]

You know indiana smart ass - a typo is a typo - geez . . .

No worry - we won't invite ya in - lol.

Tom

P.s. - I know it's a "c" - just type fast - get a life pal.

[GreenSky]

Originally Posted by myinsurebiz

You know indiana smart ass - a typo is a typo - geez . . .

No worry - we won't invite ya in - lol.

Tom

P.s. - I know it's a "c" - just type fast - get a life pal.

Don't pay him no nevermind. They are all a little precocious at that age!

Rick

[GreenSky]

Originally Posted by GreenSky

Don't pay him no nevermind. They are all a little precocious at that age!

Rick

I forgot to put the smilie. Here it is:

Rick

[GreenSky]

Originally Posted by GreenSky

I forgot to put the smilie. Here it is:

Rick

I guess I could have just edited the post.

Rick

[Frank Stastny]

Originally Posted by myinsurebiz

Example - I personally learned to sell MA's in 3 days. They key was recognizing what the client had, what they needed and what was available. We will limit the choices to the two best for a given area. Seems getting the appointment is a key factor in possibly closing the deal.

Tom

I totally disagree with the above statement. There is no way that you "learned to sell MA's in 3 days". One can't learn to sell MA's or supps without having a complete understanding of Medicare.

What you learned is how to make MA's sound better to prospects than what they currently have. What you learned is that seniors will fall for most anything that costs less than what they are currently paying. (When talking about MA's you need to be a lot more specific. It doesn't appear that you have learned this yet.) What kind of "MA's" are you selling?

Please explain how you determined "what they needed"? Was it based on premium? What criteria did you use to limit their choices to the "two best"? Which two are the best and why.

Statements like the one you made above scare the hell out of me. That totally sounds like it came from a commission oriented insurance agent.

What's even more scary is that you will be training people.

[senior-advisor-indiana]

Originally Posted by myinsurebiz

You know indiana smart ass - a typo is a typo - geez . . .

No worry - we won't invite ya in - lol.

Tom

P.s. - I know it's a "c" - just type fast - get a life pal.

You need people like me buddy. I have seen another spot where you called it Amerigo. Would you be willing to take a lie detector test?

A smart ass is definetly better than a dumb ass so.......Thank you.

P.S. What kind of ass are you?

[senior-advisor-indiana]

P.S.S.

Frank is also an expert on asses so if you need to consult him before you answer that is ok with me.

[myinsurebiz]

Frank - I hear ya . . .

" There is no way that you "learned to sell MA's in 3 days". One can't learn to sell MA's or supps without having a complete understanding of Medicare. "

Didn't say I learned everything about them - just given the situations we were presented - for those we closed - were good deals for the client.

In every situation so far - we haven't "replaced" a policy. The opportunities that weren't closed were because they had something better already and they didn't need what we had. The ones that had nothing - we put on the best available plan that gave them more benefits than they had before we arrived. Some didn't qualify.

" What you learned is how to make MA's sound better to prospects than what they currently have. "

Please don't assume.

" What you learned is that seniors will fall for most anything that costs less than what they are currently paying. "

Actually - out of 30 appointments - only 10 or so had something already AND what they had was the best available OR they were happy. As stated above - no policies were replaced.

" (When talking about MA's you need to be a lot more specific. It doesn't appear that you have learned this yet.) "

Can't be any more specific than the summary of benefits. Type in the county into Medicare.gov and it will show you the plans available. We have access to contracts with all of them - so, find the best fit and close it if possible.

" What kind of "MA's" are you selling? "

I'll be marketing HealthNet, WellCare, Instill, Coventry, Humana, CIP, SH - heck whoever has the best fit for the area / client. The commissions are important - but they aren't a factor in the deal. Matter of fact - with us knowing the top 2 plans for every county for a given situation - the Managers will double check and be sure the client's needs are first. Exactly the way it should be correct?

" Please explain how you determined "what they needed"? Was it based on premium? What criteria did you use to limit their choices to the "two best"? Which two are the best and why. "

Basing a plan decision has many factors as you know. 1st - what are the clients needs? Do they visit doctors alot? Hospitalized frequently? Need transportation? Special Needs? Are their present doctors in the network? Wants Dental, Vison, RX, etc?

" Statements like the one you made above scare the hell out of me. That totally sounds like it came from a commission oriented insurance agent. "

Understandable. However - you don't know me. You don't know what makes me tick. I'm in this for the long run. We gotta do what's right or not do it. Money isn't everything . . .

" What's even more scary is that you will be training people. "

Yes - training people on a streamlined product line and targeting certain markets so we can be the best at what we do. One thing is sure - we will ask each team member to "do it right - or not at all". If they don't - I'll can 'em personally without losing a moments sleep.

I understand your thinking Frank.

We'll surround ourselves with experienced agents, agency owners, managers, etc. We all certainly understand that the insurance industry is an industry build on referrals. Bad business usually doesn't equate into referrals.

Tom

[myinsurebiz]

Indiana - it's evident you are an ass of many sorts.

But - I love everyone. Even asses . . .

So if I need you so badly - are you looking to ramp it up? Are you happy with what you got going? If not - buzz me - I got a few ideas.

If you do - Congrats and Good Luck . . .

Tom

[senior-advisor-indiana]

Well, you certainly do have the thick skin needed for the business, I will give you that.

[Mr. Bill]

What's that saying? "There's no arguing with stupid." That's what reading this reminds me of.

[midwestbroker]

Mr C - I like where you are going with that blow it up. Reminds me of if at first you do not succeed, destroy all evidence you tried.

Frank nailed it. You can get some talking points on how things work, but that does not qualify you to properly sell the product.

What I see is a turn and burn operation.

I have thought about getting a GA contract and getting some agents, but I would rather produce myself then babysit some agents.

[myinsurebiz]

" What I see is a turn and burn operation. "

We will make sure this doesn't happen.

If we can't do well by the client and satisfy their needs with our basic products - then an experienced upline agent will get the lead.

Please don't take this the wrong way - but, it isn't rocket science to offer someone a plan that - a) they need and don't have, or b) that provides additional benefits and lowers their cost.

We're focusing on a streamlined product line:

Medicare Advantage Plans

Medicare Supplements

HSA Major Medical

DI

AD&D

Term

Whole Life

FE and PreNeed

Within these categories - we'll only have 2 or 3 policy types / carriers available. If an agent wants more or a specific type - they can go direct.

I envision 50% of all leads / appointments will be referred upline by newer agents until they learn the ropes.

We will encourage all new agents to team up and ride together in the beginning and work together.

All new agents can ride along with experienced agents to learn while they are performing the tasks needed to get licensed.

You act as if we are going to be cutting loose agents that haven't studied and / or trained. They have to prove themselves to write business through us. They can do what they want on their own - but as a team member, they have to complete a check list before writing business.

Thanks for the comments - I welcome any and all . . .

Tom

[GreenSky]

Originally Posted by myinsurebiz

We're focusing on a streamlined product line:

Medicare Advantage Plans

Medicare Supplements

HSA Major Medical

DI

AD&D

Term

Whole Life

FE and PreNeed

Streamlined? I think the only thing you are missing is annuities and you already said you wanted to include them in the mix.

You mentioned Term and Whole Life. What, no universal life?

Seriously, you have biting off an awful lot for a new venture. You might want to narrow your focus to seniors only for awhile and really understand your limited products.

If you only offer 2 MA plans, then you are almost a captive agent. You can't call yourself an independent. Med Supps are all the same so you are really only selling on price and MAYBE the rate increase history.

You and I have talked and I believe you are sincere in wanting this to work not only for you and your agents, but for your clients. You might want to take baby steps though.

Rick

[Mr. Bill]

The correct term is "churn and burn" - essentially a plan to screw the client as much as possible in order to be paid. Sounds like the plan being implemented. You don't know what you're doing, so you plan to "pass the lead" but how will you know when you don't know what you're doing? That is part of the problem.

[myinsurebiz]

Rick -

Our entire agency will be made up of agents from all walks.

Incoming agents will be encouraged to do MA's, or Major Med, or Life - to focus on a core product and if stumped on a client - push the lead upline, get a small cut and move on to what they can sell.

Incoming agents will have to start small. They'll have to "ride along" or "call along" for a minimum of 3 days training. Then before they move up the commission ladder - they have to write certain amounts of "good" business. ALL apps are checked and double checked by "experienced" office staff.

No new agent will know everything in a day - but, baby steps are good.

Bill,

" The correct term is "churn and burn" - essentially a plan to screw the client as much as possible in order to be paid. Sounds like the plan being implemented. "

LOL. You have your opinion and are entitled to your comments, but we have no desire to "screw" anyone - especially the client. Again - you assume . . .

" You don't know what you're doing, so you plan to "pass the lead" but how will you know when you don't know what you're doing? That is part of the problem. "

The agent will have in their salesbag the products they know, that they can explain and compare and that they can sell. If the client has a need that the "specific" agent can't confidently address - they bump the lead upline. They will still earn 25% of the commission - but the client then becomes the upline's client and all renewals stay with the upline.

Our starting lineup is:

The top 2 or 3 MA choices in a given county.

The top 2 or 3 Individual Health choices in a given area.

The top 2 or 3 Life choices in a given area.

I doubt any incoming agent is going to jump on everything at once. But - as a "team" the client's needs will be job 1 . . .

Will we be all things to all people - No. Will we be churnin' & burnin' and screwin' - No! Thankfully not everyone is as narrow minded and assuming.

Tom

[myinsurebiz]

Also - Rick - on offering the top 2 or 3 MA plans. If you look at Medicare.gov and pull up a county and compare the MA's - you'll see only 2 or 3 top choices in that area - these we'll offer. The client will be presented a benefits comparison and THEY will choose.

We'll have agents contracted with just about every MA carrier. Someone in the agency will be able to service the client.

Thanks for all the help,

Tom

[midwestbroker]

Personally, I think you are going to entertain some agents until they realize that there are other FMO's out there that will work with them for no monthly fees or up front costs.

Your best best is to specialize in your market then grow from there. Trying to tackle multiple states and lines is a mistake unless you are a veteran in those areas.

However, if you are doing business properly in the best interests of the client, I wish you success.

[Mr. Bill]

I agree with MWB.

My position is still that 2 products do not fit all clients. The difficulty with new agents is always that they simply don't know what they don't know. Only experience and broad knowledge can provide that. Therefore, fitting round pegs into square holes is screwing the client.

[myinsurebiz]

MWB said - " Personally, I think you are going to entertain some agents until they realize that there are other FMO's out there that will work with them for no monthly fees or up front costs. "

We are not targeting existing agents. We will be recruiting go-getters into the industry and into our program. If they choose to leave - and they don't have a debit balance - they are free to haul ass - no hard feelings and we'll wish them much success.

Our pay plans are strong. A producing agent will be able to enjoy a comp plan that is tailored for those that want to be aggressive and do a ton of personal sales. A part-timer will be able to enjoy a comp plan that is tailored for those that want to make additional income AND show others how to do it too, which would create bonus over-rides for the referring agent. Also - a producer can enjoy their comp plan and recruit others to join the company in either capacity AND earn over-rides regardless.

" Your best best is to specialize in your market then grow from there. Trying to tackle multiple states and lines is a mistake unless you are a veteran in those areas. "

So true. We are going to focus on GA, FL, SC, NC and MI in the beginning.

" However, if you are doing business properly in the best interests of the client, I wish you success. "

That will be job 1 . . .

Bill said,

" My position is still that 2 products do not fit all clients. "

We will specialize in the top 2 or 3 plans in a given area in a given category. Really no different than a captive agent, except a few additional choices. If we don't have what a client needs or wants - it will be passed upline and they will find it for the client.

" The difficulty with new agents is always that they simply don't know what they don't know. Only experience and broad knowledge can provide that. "

Training can be an equivalent to experience. In addition - our agents can go out in 2 man teams early in their careers - 2 heads are better than one. In addition - with today's technology - their upline or team support is only a cell phone call away OR even better if high speed wireless is available - an instant live online webinar.

No offense Bill - but, you seem to think that just because someone is new that they don't have the ability to think or ask for help. I would imagine that our lines of communication between our field team, their support team and the client will be far superior to that of the average insurance agent in the field and with time, equal to that of the veteran agent.

" Therefore, fitting round pegs into square holes is screwing the client. "

The client is job 1.

Our target market are those who have no coverage. Should we run into someone unhappy or that has been "screwed" - then we will see if we can help. But - in the beginning we will be focusing on MA markets and uninsured / under insured in other markets.

It's not like we intend to be the vikings of the insurance industry raiding and pilliging neighborhoods - good grief . . .

Tom