Insurance Agent Forum

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[healthagent]

It's simply all about the leads - making sure the leads are exclusive and you have plenty of them. 99% of them time I'm talking to agents who aren't making enough sales it's due to lack of leads.

This is what I put into underwriting yesterday (names blanked out for HIPAA obviously) and under that is the leads I'm working so far since the 3rd of this month. As you might see, I'm working more leads now after 3 days than most agents will work all month. So it's not like I'm good at anything. I just work loads and loads of leads.

Jan production so far: ($1,794 in commissions isn't a bad way to start the new year after 3 days of sales)

DATE SUBMITTED DATE APPROVED CLIENT PHONE EMAIL ADDRESS PLAN AV COMM
1/4/2007 L***** W****n 410-551-**** la*******son@netscape.com **** Arwell Ct Severn MD 21144 CoreMed $3,000 ded 50% $2,500 OOP w/copay $1,356 $339
1/4/2007 Ma****e C***x 301-855-**** m******ox@msn.com ***** Apple Way Dunkirk 20754 Max $2,500 ded 50% $2,500 OOP no copay $3,588 $897
1/4/2007 D****n M*****ey 410-236-**** de*******ey@gmail.com **** Goucher ave Lutherville 21093 Max $2,500 ded 50% $2,500 OOP w/copay $2,232 $558


LEADS SO FAR I'M WORKING (These are public leads lists so people's names aren't protected but I deleted last names and last digists of phone numbers anyway. - sorry it didn't format too well when I tried to copy and paste.)

DATE CLIENT NAME PHONE EMAIL AGES ZIP
1/2/2007 Tanya 301-937- Tanya@thinkact.com 41M S F33 20705
2pm - sent email
1/3 - has a deadline this week but is interested - call early next week
1/2/2007 Jacquetta 301-937- jmil@creativelaundry.com
2:15 - sent email. Is the business manager for Creative Laundry w/20 employees. Interested in possibly switching to individual
1/3 11am - currently in a meeting - call back in the afternoon
1/2/2007 Tom 301-595-
Covered by his wife but has one employee. Mail to Meterman Supply Inc 11890 Old Baltimore Pike Suite R Beltsville 20705
1/3 - mailed packet
1/3/2007 Nicole 301-346- alfod@dpsych.com F37 21113
Currently has Mamsi at $206 per month - wants better plan. Follow up in one week by email

1/3/2007 Andrew J 410-360- M46 S 21122
No current plan - mail to American Auto Exchange 124 Mountain Rd Pasadena 21122
1/3 mailed packet
1/3/2007 Douglas 410-674- M36 F34 C2 21113 John
Currently on Mamsi plan - mail info to Grace Baptist Church 1350 Blair Dr Ste H Odenton 21113
1/3 mailed packet
1/3/2007 Barbara 410-761-6 21122 John
Interested for herself and employees - wants it mailed then schedule meeting: 8039 Ritchie Hwy Suite D Pasadena 21122
1/3 mailed packet
1/3/2007 Scott 301-937 20737
Mail to Scott's Custom Auto Body 6702 Auburn Ave Riverdale 20737
1/4 mailed packet
1/3/2007 Bea 301-931-1881 Be@cluckuchicken.com
Runs CUC management in charge of selling the Cluck U Chicken franchises - wants my info for store owners
1/3/2007 Raul 301-931- part@verizon.net M32 F32 C3 20708
Currently has a family plan and all employees have their own plan. Owns Partners Carpet Care
1/3/2007 Ann 301-474- ann.scher@
Owns Varilog Research - currently has a group plan with 4 employees but wants to look into indivdual
1/3/2007 Isidro 301 674-9 M38 F26 20705
No current coverage - going out of town until next Thursday: mail to Garcia & Garcia Homes 4802 Odell Rd Beltsville 20705 aspringer@
Contact is Andrew but the person who need coverage is Brian Shipp
1/4/2007 Anna 301) 931- M46 F38 C2 20705
No current insurance - owns restaurant mail to: El Sombrerito 11510 Baltimore Ave Beltsville 20705
1/4/2007 Mark 301) 595-2 atomicdingdong@yahoo.com M44 s C2 20705
Owns Capitol Surfaces - currently has a family plan and looking to save money
1/4/2007 Mary 301) 937-
4 people who all have individual plans. Mail to: United Photo Inc 5005 Garrett Ave Beltsville 20705
1/4/2007 Darryl 301) 931- eaglepandbforms@
3 person company - Darryl has coverage through his wife but Paul M36 has 6/12 plan though State farm and Tammy has no insurance
1/4/2007 James 301) 395- review@ M50 F46 C2 20623
Very friendly - looking to save money off current plan
1/4/2007 Timothy 301) 441-4664 handy8306@
Wants the info for one of his employees - M52 - who's complaining about Carefirst rate increases.
1/4/2007 Darrel 301) 937- ck7235@ M45 20772
1/5/2007 Jim 301-334- 20705
Owner of Taylor Sheet Metal Fabricators - interested in giving info to one of his uncovered employees
1/5/2007 Jim 301) 595-
Interested in getting info for two people. Mail to: Equipment Repair Service 5112 Cypress Rd Belstville 20705

[cadylou]

Mike Golden - I too am relatively new to insurance & feel I share your strengths & weaknesses. I felt like I was reading about myself. I have learned everything the hard way & as a result am not making enough money yet.

I came from a technology background too & quit to go full time with insurance in May 2006. I spent most of May getting appointed with carriers & trying to learn product sets. Very little selling took place - only spending.

Aflac wanted me to go full time, so I wasted a good amount of time riding around with a District Coordinator cold calling with almost no yield - there goes June.

July I bought some leads & did my own networking, and things got a bit better, but it took till August to see any money for my efforts.

I too got involved with NAA this fall - it lasted less than a month. I thought they were deceitful - I wrote 5 deals under them in about 2 weeks & spent the rest of the time trying to figure out how to get out of it.

I'm selling some mortgage protection under United Brokerage group now and buying some internet leads to keep growing my individual business, but will also really need to seriously ramp up this year to make it.

All in all, I've narrowed my product set and am concentrating on a few areas that are simple for me so that I can be more effective. I'll need to call on more businesses to fill in my health insurance income, even though I really don't like B2B. I did it with commercial technology products with very large companies & find the individual sale so much more intimate & fun.

But, I would need so much volume with just individual that I don't see making my financial objectives with that alone.

Thoughts? Advice?

[cadylou]

John, the public lead lists you show here - where do you get those? Through a marketing company or broker of some kind?

I'd appreciate some advice on sources for leads you consider to be viable.

Thanks.

[K-Dub]

John,

Don't you feel like you're wasting time and money on postage mailing something out? Do you think people really look at it?

What's been your experience?

[healthagent]

Well, I have three more deals going today - one already submitted and all from mailing out info.

It's ironic that the method that's working best for me in this age of technology is cold calling small biz owners and mailing out brochures.

And yes, they actually read the brochures. What they DON'T do is read the PDF files when I used to email the info. And even the people who request the info by email say "I haven't read through it yet."

But it's pretty cool for people to get that nice big packet and I have a letter that breaks it all down easily. It's also MUCH easier when I follow up with them since they can just grab the brochure and rate chart and follow along with me. I still sign everyone up online without meeting with them.

No doubt, this is my method. And the lists from from Goleads single user account.

Deleted

[cadylou]

I'm not familiar with Jamie Rice's telemarketing group. Where are they & how do I contact for pricing/overview of services?

[aufan]

Mike, does Jamie's group use their own script for the calls or did you provide that? I would love to see an example of that script. I have one I use, but I don't think it is the most effective.

Also, would like to see the script you use on the follow up call.

How about any of you other guys? Here is basically my script for the follow up. Critique away!

Good morning...may I speak with John? Hi John, my name is Cliff Horton and I understand you talked with Lisa on January 2nd about getting some quotes for your health insurance. I know that Lisa got some information from you and I just need to verify your information to see if you qualify for any discounts. (I then follow up with all the info and I prepare a quote)

Now I've got your information in and I'm coming up with $xxx.xx. Are you paying more than that now for your current plan?

If yes:

Great! I'll need for you to have your current policy available when I come by to see you to make sure that we have covered all the bases and hopefully offered you more benefits at a lower premium. It will take us about 15 minutes to complete an application and you won't have to pay anything up front....i'll take your application and a voided check and we'll submit it for consideration. You of course can keep your coverage in place until our underwriting makes a decision and then we can coordinate your new coverage with the stop date on your old plan. I'll be in your area on tuesday of next week...is mornings or afternoons better for you?
(I set the appointment and prepare to close the deal)

If no:

I try to find out a little more information about their coverage, but I don't dwell on it too long before I move on to the next lead.

Ok....bring on the critique...I can take it!

[arnguy]

At first glance, IMHO I would emphasize that the prospect should keep their current policy in place until their application is approved and the new policy issued. The wording you have appears to make it optional.

[salpro22]

Good morning...may I speak with John? Hi John, my name is Cliff Horton and I understand you talked with Lisa on January 2nd about getting some quotes for your health insurance.

>>>>>>Are you an indy or captive. If you are an indy I recommend you tell the person that you are the Owner of XYZ Company.

I know that Lisa got some information from you and I just need to verify your information to see if you qualify for any discounts.
>>>>>What discounts are you talking about????


Now I've got your information in and I'm coming up with $xxx.xx. Are you paying more than that now for your current plan?

>>>>Personally, I would try to find out their premium amount first, so you know exactly where they stand immediately. I had a prospective client tell me once that she had a plan through AFLAC that covered he 100% for only $75 dollars a month. NEXT!!!!

If yes:

Great! I'll need for you to have your current policy available when I come by to see you to make sure that we have covered all the bases and hopefully offered you more benefits at a lower premium. It will take us about 15 minutes to complete an application and you won't have to pay anything up front

I would NEVER say "hopefully offered you more benefits." I am either going to offer somebody a better plan or not waste my time. Find out about there current plan!

....i'll take your application and a voided check and we'll submit it for consideration.

>>>>If no money is required up front why do I have to give you a voided check (Expect to hear that from a client). Explain the process to them.

You of course can keep your coverage in place until our underwriting makes a decision and then we can coordinate your new coverage with the stop date on your old plan.

>>>>>>>"I would love to have you as a client and guarantee you that I will, yadda yadda yadda. Should you decide to do business with (me, my company, etc.) it is important that you keep your policy in place until the new policy has been issued and all of your questions have been answered." They will either know what you are talking about or ask you why? Explain things to them like you would a child.

I'll be in your area on tuesday of next week...is mornings or afternoons better for you?
(I set the appointment and prepare to close the deal)

>>>>>>I love that line and use it myself


-J.R.

Originally Posted by cadylou

I'm not familiar with Jamie Rice's telemarketing group. Where are they & how do I contact for pricing/overview of services?

Jami charges $15 per hour and specializes in B to B for Health insurance; I believe she has somewhere between 5 and 7 people working for her.

She can be reached at:

Insurance Marketing Solutions
19330 Lane Tree Dr
Platte City MO 64079
816-445-3612 Office
402-681-0277 Direct
866-238-0300 Fax

Deleted

[Frank Stastny]

AUfan

I hope you don't mind but I have some suggestions regarding your script. I think it would be helpful if we knew exactly what information Lisa got when she made the initial call. Was it just a quick call to see if the prospect was interested enough to have you call? I will assume that was what it is for now.

My comments are in Red.

Good morning...may I speak with John? -- In the initial call I prefer to use the persons last name, Mr. Smith, not John. I personally don't like it when a salesman calls and calls me Frank.-- Hi John, my name is Cliff Horton --I would tell him who you are with and why you are calling-- and I understand you talked with Lisa on January 2nd about getting some quotes for your health insurance. I know that Lisa got some information from you and I just need to verify your information to see if you qualify for any discounts. It sounds like you are trying to qualify him at this point without even telling him anything about the company or the unique benefits you can offer him. Do you read the health questions to him at this time? (I then follow up with all the info and I prepare a quote)

Now I've got your information in and I'm coming up with $xxx.xx. Are you paying more than that now for your current plan? -- I think you may be assuming too much when you give him a specific quote. Are you sure that you are comparing apples with apples? Instead of giving him a specific dollar amount, unless you know your policy is EXACTLY like the one he currently has, I would give him an estimated cost or tell him you believe you can save him some money and possibly increase his benefits and tell him that a side by side comparison of his policy and yours would be necessary to give him an exact amount.

If yes:

This is where you would lose me totally and my attitude would change from being interested to one of feeling like I am being high-pressured by another insurance agent. I think you are making too many assumptions too early in the conversation.

He hasn't even agreed to see you and you are already telling him how long it takes to fill out the application and that you are going to come by and pick up a check. I would probably hang up on you at this point. Most of what follows in your script should be saved until you are sitting in from of him and have answered all of his questions and you have explained the benefits of your policy and how they compare to the one he has. Price alone may not be his only consideration.

Great! I'll need for you to have your current policy available when I come by to see you to make sure that we have covered all the bases and hopefully offered you more benefits at a lower premium. It will take us about 15 minutes to complete an application and you won't have to pay anything up front....i'll take your application and a voided check and we'll submit it for consideration. You of course can keep your coverage in place until our underwriting makes a decision and then we can coordinate your new coverage with the stop date on your old plan. I'll be in your area on tuesday of next week...is mornings or afternoons better for you? -- At this point You are telling him when it will be convenient for you without taking into account his schedule. I would tell him that you are going to be available next week to meet with him and ask him which day is going to work best for him. What if he says he is going to be gone on Tuesday what do you say next? Do you say, well then how about Thursday? What if he is busy then also? I use to do this and there were too many times that I lost control of the conversation if the day I picked didn't work for the prospect.
(I set the appointment and prepare to close the deal)

Below is a suggestion for your opening comments when you get him on the phone. They are rough and need to be smoothed out. You will probably have to work them over quite a bit so they sound conversational when you say them if you decide to use any part of it. (Now the members have two people to "blast away at".

Good morning...may I speak with Mr. Smith (or you can say John Smith)? Hi Mr. Smith, my name is Cliff Horton. (You can add the name of your agency or not. However, don’t pause, go immediately into “The reason I’m calling...”. They will usually let you get at least that much out before hanging up.) The reason I’m calling is to follow up on the conversation you and Lisa had the other day regarding getting some quotes on your health insurance and saving you some money. ---- At this point I would try to engage him in a conversation. Ask him how long he has had his current policy and has he experienced some exceptionally high premium increases? Is he getting excellent service from his agent and does his agent return his call promptly. (I sell a lot of insurance just because people are unhappy with their agent.) Pick a benefit you know he most likely doesn’t have and ask him if his current policy provides that coverage. If Lisa hasn’t asked for the name of his current company and his current premium you should do so during this part of the conversation. Listen carefully and act interested in what he has to say. Everyone has bitches about the insurance they have. Use his complaints to formulate what you say next and let him know how your policy will be different than his current one. He will help you sell your policy if you listen closely to what he doesn’t like about his current one.

Sorry this is so long. This is just how I would handle it. It by no means is the only way or even the right way. It's just what would work best for me. The only right way for an individual is what is comfortable and sounds natural. My main suggestion is that it sound conversational and not like a canned sales pitch that you use on every body.

[Frank Stastny]

Mike,

I really like your script a lot if you are not calling to make an appointment. It is a nice smooth approach that is non-threatening. I assume that you are making the initial call yourself and not having someone do it for you. I think AUfan is making a follow-up call after the person has already had a call from Lisa, and the purpose of his call is to set an appointment.

It also sounds like AUfan may be calling individuals as opposed to businesses.

However, just one comment about your script. I stop listening when someone calls and starts the conversation with "Hey". Just a personal thing with me.

[healthagent]

Whatever script you're using, some conversation better take place where you're asking them what they would change about their current coverage.

I've told many agents this, but if the client doesn't have a problem you don't have a deal. They need to be upset about one of three things:

1) Their plan sucks.
2) Their plan is too expensive
3) They don't have a plan

If you're doing all the talking you're messing up. If the prospect won't talk you've got crap in one hand and nothing in the other - which weighs more?

Bascially, I don't like to waste my time and the client doesn't want their time wasted. I'm not setting an appointment with someone who has little to no interest.

Forget about qualification if they have no interest. I need to ascertain some level of interest first before anything is discussed. That starts with "what would you change about your coverage." A lot of times you'll hear "Oh....I don't know. Just sent me what you got and I'll take a look at it." That's no deal. Why would I a schedule an appointment with that person?

Deleted

[Frank Stastny]

Mike,
I use "Hey" when talking to friends, "Hey" just doesn't strike me very well as an opening comment in a business conversation. You're right, "Hi" sounds a lot better, at least to me.

I have never tried B to B but am looking at much harder recently. CMS and the no call list has tied my hands to the point that it is next to impossible to prospect, at least the way I use to. I can't call them, I have to send only "approved" letters, I can't knock on the door. Bottom line is that I can no longer as easily help people find the best, least expensive option to supplement their Medicare. Well, almost anyway.

I just don't know anything about B to B health insurance sales. I guess that is my next project.

Isn't it amazing that one can be in insurance seemingly for ever and when looking at a new product line it is like you just learned to spell the word insurance.

John,
Everything you said is right on the money.

Before I set an appointment I know who they have their insurance with, how much they are paying and tell them how much it will cost with me. They are most often "sold" when I hang up and it's only a matter of making them feel warm and fuzzy when I go to fill out the app. I'm sure it isn't quite that easy when selling B to B.

[salpro22]

What is CMS?

Here is an interesting website I came across while I was researching telemarketing laws and how it impacts small business owners and residential customers http://www.junkbusters.com/fcc.html

[Frank Stastny]

Sorry about that. I hate it when people do that and don't offer an explanation. Guess I'm as guilty as every one else.

CMS (Center for Medicare / Medicaid Services). The govt agency that is setting the rules and regs for what agents can and can't do when contacting seniors about Medicare Advantage and Prescription Drug plans.

Am I the only one who is getting sick and tired of "big brother" protecting me from all the "bad people" out there.