For those of you using NORVAX...

somarco · 11-04-2006, 06:46 AM

Who uses Norvax? How long have you used it? What kind of return are you getting on your monthly investment?

moonlightandmargaritas · 11-04-2006, 01:54 PM

Bob, I used Norvax for about a year (7/'04-7-'05). Did one of their cutomizable websites as a lead generation tool.

Excellent, speedy, thorough customer service. Cheap too, think I spent about $40/month, with a one time setup of a-buck-and-a-quarter-or so.

Pro: Very high closing ratio on leads developed - about 400% higher than purchased internet leads.

Con: Escalating cost with Google AdWords to drive traffic to the site. Blues, Humana, etc. were bidding the price up big time. Another problem (bigger, actually), didn't get the type of client I seek. I like to cross-sell life and DI to business owners after going in on the health business.

Bottom Line: Profitable, but decided not to continue, mainly because it wasn't attracting my "target" client.

Hope that helps.

somarco · 11-04-2006, 01:59 PM

Thx for the feedback Paul.

healthagent · 11-04-2006, 06:07 PM

The Goodle Adwords in my state got to the point where I pulled the plug. The average click was around $3.60 which is insane. That has nothing to do with the client actually submitting for a quote, that they're insurable or actually ready to buy. When the dust settled I was still making a profit, but at the time I found it easier to purchase shared leads. I was still closing 1 out of 10 at $8 a pop but factoring in leads for credit my cost averaged out to $6.50 per lead.

Winter's hitting and I'm picking some shared leads back up. Still going B to B but not when it gets nasty cold.

Alsky · 03-17-2007, 12:03 AM

I received an email about the Norvax quoting software and website... has anyone used this software? Any idea of cost? Would you recommend? Thanks for any info you can provide. Alsky

CHUMPS FROM OXFORD · 03-17-2007, 11:06 AM

I have spoken to them a few times. I haven't pulled the trigger yet. But I know NEVER to buy their leads. I have seen (first hand) how they often buy recycled leads and pass them on as primary leads.

Peelerinsurance.com · 03-17-2007, 11:24 AM

I use it, and i have the lead thingy that uploads my internet leads into the system. i pay a c note a month for the entire lot... i like it... it makes life easy. if u got the cash i say do it

somarco · 03-18-2007, 10:28 AM

I have used Norvax for 4 months now. There are things I like about it, some I dont.

In that 4 month period I have written 1 - 2 extra policies that I probably would not have otherwise, so it pays for itself.

I have the stripped down version. Just the quote engine, not the website and certainly not the leads.

They are pricey in my opinion. Especially so if you take their first offer. If you deal with them like buying a car you can get a better price. Shameless tactics if you ask me.

The quote engine will only show a handful of plans & options. I have 6 carriers (soon to be 7) loaded in my quote engine and they will show (max) about 200 options. When I quote with carrier software I can show about 1800 variations and achieve much more customization.

The abbreviated quote is nice and the one I use the most. The full proposal quote is a bit clunky. You really can't view more than 2 plans side by side which is a bit of a hindrance.

I actually prefer the Quotit engine but they only have a limited number of carriers & plans and seem to concentrate more on group quoting.

Emailing quotes can get caught up in spam filters. More than once I have emailed a client only to have them tell me they never got the quote. When I ask them to check their spam folder more often than not it turns up there.

Norvax does not notify you of a quote that is undeliverable or unopened. The only way you will know if someone is tooling around in your site is if they start a quote.

Your set up will run anywhere from $250 to $350 + $75 per month for the quote engine. They will quote you a higher price. I probably could have gotten it lower but I got tired or haggling and I wanted to get it up & running.

Recently I went back & ask for a separate URL to quote HSA plans only. My rep said the best deal was $300 setup + another $75 per month.

I was very polite when I told him I would pass on his generous offer.

The back office has a lot of bells & whistles that make it reasonably easy to follow up with prospects.

My guess is I will write $50,000 or so in AP this year that I would not have otherwise and that is probably a low estimate. So I am spending $75 x 12 = $900 to make an extra $10k or so.

Alsky · 03-18-2007, 10:47 AM

Somarco, if you opted not to get the website feature, did you embed the software into your own existing website?

Also, how easy/difficult is the setup of the software and installing the individual ins companies illustration software?

Thanks a million for your input... this will help a lot.

Alsky

somarco · 03-18-2007, 10:50 AM

I got a domain from GoDaddy and use this as a hotlink in correspondence and on my site.

http://quickhealthplans.com

Norvax sets up the quote engine with the carriers for you. Probably takes them 5 minutes to do it. For that they want to charge $350.

Alsky · 03-18-2007, 11:03 AM

Thanks again Somarco, your info will make my decision about Norvax a much easier one. Take care and enjoy the rest of your weekend.

Alsky

healthagent · 03-18-2007, 11:04 AM

Just so you know, the carriers provide you with your own quoting links - just thow 'em on your website: http://healthsolutionsagency.com - click into health plans.

I personally don't like clients seeing 80 different plans from 4 different carriers all at once. Why do I want my client looking at GR rates if they want maternity? Why do I want them looking at Assurant if they have a pre-ex condition that'll be ridered?

I want to speak with every potential client, do a pre-qual and them guide them to the proper carrier so they can see the rates online.

Alsky · 03-18-2007, 11:14 AM

Hi John, Is the form on this page of your site http://www.marylandquotes.com/quote.html from an ins co or is this a lead generating form you designed?

Also, what do you do with the leads from states that you are not appointed to?

Finally, I noticed that the quick quote for Golden Rule is not available in 3 states, SC included (where I am) ... know why this is?

healthagent · 03-18-2007, 11:46 AM

The insurance companies provide those quoting links. My sister designed the lead generation page but I only market in states I'm licensed in. And most carriers aren't available in all states and there's no rhyme or reason for it.

Alsky · 03-18-2007, 12:01 PM

Thanks John.

Alsky

somarco · 03-18-2007, 04:55 PM

the carriers provide you with your own quoting links

That quote engine from Time does not show all the plans, only a handful. They are the only carrier I know that gives you a site with limited access to plans.

I have sites from Aetna, Blue, and KP. All have the full complement of plans.

healthagent · 03-18-2007, 05:00 PM

The only plans it doesn't show are the tradition plans.

somarco · 03-18-2007, 05:03 PM

I know what my link does and doesn't do. Too lengthy to give a list. Too tired of arguing with a brick.

Krono · 03-18-2007, 06:36 PM

What about Broker Office anybody use it? What are your thoughts?

somarco · 03-18-2007, 06:52 PM

Broker office is the back office I referred to earlier. It allows you to track your prospects, review quotes, send follow up quotes, etc. For extra $$$ (not worth it in my opinion) you can also have something like 6 follow up automatic emails.

Lots of bells & whistles that drive up the price on what I consider to be a pricey service from the git go.

For something simple like I have, the set up fee should be $100, no more than $150. The monthly subscription at $50 is still pricey. Consider there are several places where you can get template websites with hosting for $10/month. Even some of these have limited instant quoting capabilities.

Norvax does have an STM quote engine that I have considered. But for another $250 set up + an additional $75/month I believe I will pass.