2008 Lead Company Update

[Crabcake Johnny]

Right now I'm looking into merging some technology for internet leads. There's IDA Assistant: I.D.A. - Home

It's a CRM that has plug-ins - automatically imports your leads in real time and generates auto-responders.

Here's who they're configured with so far: I.D.A. - Plug-Ins

We also have Al's auto-dialer - Professional Telemarketing Solutions: Business Data Lists

What I'm going to work on is seeing if the plug-ins can be designed to import into Al's dialer. As is stands now, leads can be imported from a spreadsheet.

Then it's no more manually dialing your internet leads. They all get imported into the dialers and now you've created your own LeadPod - but no $10 transfer fees.

Lean back in your chair and call all of your leads as often as you want with no manual dialing headaches - automatically leaves messages you designed and you'll make 4 times as many calls in the same amount of time.

Gonna call the 40 leads you're received so far this week today? Use dialer technology and knock those calls out in 20 minutes while leaving messages - if you choose the leave messages.

You can also check a box when you don't want that lead called again. So after a few days, check the box not to call.

 

[TXINSURANCE]

John - anything is worth a try, technology IS the key and most agents MANUALLY dialing have unpredictable and not consistent.

We are also working on Live Leads and other technologies for 2009, some beta testing later this year.

I do believe leaving pre recording messages is illegal though. I would certainly do my homework on that.

 

[Crabcake Johnny]

I believe you're right for residential - however, if I get a lead and dial manually can I leave a message? If so, what would be the difference? I believe Leadpod leaves a message but I'll have to check.

Why play with it - when in doubt, if you're using a dialer with a recorded message just ditch it.

Where this comes into play is calling back 2, 3, 4 days worth of leads using a dialer banging away at 3 dials at a time.

It will allow agents to call leads twice per day without the headaches.

 

[somarco]

Are there good stats/studies you leverage that shows the negative of purchasing online? In other words, how people were underinsured, denied a claim because they thought they had coverage or didn't think they needed it...etc?

Almost impossible to quantify. I did see a report on eHealth a few years back indicating something like 70% of those who purchased from them bought one of the higher priced plans.

Higher price doesn't mean better.

This was before the Saver & Right Start type plans became prevalent.

I field consumer questions on some public forums, and most of the time they do not have an agent. Bought direct from someone like eHealth or from the carrier and are getting tossed around.

When I get a new lead and they have individual coverage, I ask who their agent is. The majority of the time they don't have one, or they haven't heard from their agent since he sold them the policy. Either he doesn't return phone calls or is no longer available at that number.

I talked with a guy last week who bought one of those discount/insurance garbage plans. Only found out how bad the coverage was (hospital indemnity at $500/day + surgical schedule) after having rotator cuff surgery.

Bills are at $30k and they are denying all of it as pre-ex.

The guy makes $50k so he is toast.

 

[Chadcs]

Almost impossible to quantify. I did see a report on eHealth a few years back indicating something like 70% of those who purchased from them bought one of the higher priced plans.

Higher price doesn't mean better.

This was before the Saver & Right Start type plans became prevalent.

I field consumer questions on some public forums, and most of the time they do not have an agent. Bought direct from someone like eHealth or from the carrier and are getting tossed around.

When I get a new lead and they have individual coverage, I ask who their agent is. The majority of the time they don't have one, or they haven't heard from their agent since he sold them the policy. Either he doesn't return phone calls or is no longer available at that number.

I talked with a guy last week who bought one of those discount/insurance garbage plans. Only found out how bad the coverage was (hospital indemnity at $500/day + surgical schedule) after having rotator cuff surgery.

Bills are at $30k and they are denying all of it as pre-ex.

The guy makes $50k so he is toast.

exactly why it frustrates me (and I'm not even an agent). It just seems that there is so much garbage out there and nearly 100% of the marketing being done is about premium. People believe that that's all they have to do, is find the best price. In reality, the best price so often is not the best coverage! Definitely learned that when competing against other D&O underwriters.

 

[Crabcake Johnny]

It's not just health. Watched the news last night - covered the under-insuranced homeowners after the fires in CA who are left $100K or $200K short to rebuild their homes.

They went over that homeowners want cheap premiums and are not interested in paying for the true value of their home.

 

[CHUMPS FROM OXFORD]

"Why aren't there any "lead" sites where an applicant fills out their information, then is allowed to select a few local agents to have contact them when they submit it?"

Actually...InsureMe tried that concept in certain areas (ours was one) about a year ago. Consumers could pick between 1 and 8 brokers. I loved it. My lead count went down, but those that chose me realized I was local. Closing ratio went up.

But...InsureMe got rid of the program this year. I'm sure they had their reasons.

 

[moonlightandmargaritas]

Watched the news last night - covered the under-insuranced homeowners after the fires in CA who are left $100K or $200K short to rebuild their homes.

My P&C knowledge lapsed about 7 years ago, but doesn't the modern HO-3 policy form include guaranteed replacement coverage?

 

[Crabcake Johnny]

Not after watching the homeowners on camera yesterday talking about how they're $200K shy of being able to rebuild.

http://video.google.com/videoplay?docid=-4831286385095151593&q=california+homeowners+fire&ei=ak9-SOGJCYSaqQL1z5WIAQ&hl=en

 

[GreenSky]

It's not just health. Watched the news last night - covered the under-insuranced homeowners after the fires in CA who are left $100K or $200K short to rebuild their homes.

They went over that homeowners want cheap premiums and are not interested in paying for the true value of their home.

This is from memory from when I ran a P&C agency so things might have changed.

Homes in designated fire areas in California rarely can get a homeowner's policy at any price due to high risk of fire. (Duh!). So there is a program from the state called "California Fair Plan." It covers the actual cash value of the home - not replacement cost.

Several carriers will offer a wrap-around policy that adds replacement cost and liability but at a VERY high price. In fact, in many cases the price is out of reach of middle income people.

Hence, they are $100-200,000 underinsured.

Rick