2019 Telesales Revolution
- Thread starter indiana260
- Start date
- 933
Hey Bib. I have no doubt you and most f2f agents replace a bunch of telesales biz. I bet many of those replacements were from call centers selling a single product? It's no different than telesales agents replacing a lot of f2f captive business from Lincoln Heritage etc. To reference Newby's post in this thread, if the telesales agent gives them something competitive, it'll be a lot more replacement proof.
We have a conservation team that handles all NSF's for the agents just like other final expense telesales agencies. They'll get the required forms using phone, email and texting. Remember, we're working mostly internet leads that communicate differently than direct mail.
- 2,045
Ok, and how many weeks have you been at your new shop? A few weeks ago you were posting about how you sell FE F2F.
- 26,145
That.
I would bet those same low persistency agents rarely get referrals and in bound calls for more insurance.
All IMohsoHO also.
*
- 1,912
Although percistency, NSF, chargebacks, etc... etc... all matter...
Nothing is more important than what an agent is netting at the end of the year.
If your lead cost dropped by 50% and your sales went up by 25% would 20%-30% increase in chargebacks matter?
Thats a hypothetical, but I know for a fact, that placement and persistency can be similar to F2F sales if done correctly.
Telesales with at least one carrier I know of is having a better quality of business then what they are experiencing face to face.
Nothing is more important than what an agent is netting at the end of the year.
If your lead cost dropped by 50% and your sales went up by 25% would 20%-30% increase in chargebacks matter?
Thats a hypothetical, but I know for a fact, that placement and persistency can be similar to F2F sales if done correctly.
Telesales with at least one carrier I know of is having a better quality of business then what they are experiencing face to face.
- 5,305
Devil's Advocate question...
If telesales worked so well, why do you see Foresters pulling out of it due to adverse selection and (I believe) persistency issues?
They've allowed telesales a lot longer than many final expense carriers.
Curious to see what you telesales specialists think.
If telesales worked so well, why do you see Foresters pulling out of it due to adverse selection and (I believe) persistency issues?
They've allowed telesales a lot longer than many final expense carriers.
Curious to see what you telesales specialists think.
- 26,145
Admittedly I used to replace a lot more in the past. However, I have also replaced a lot of F2F FE, as well as Primerica.
Are you saying you have a harder time replacing F2F policies? If by telesales you are including AARP and Globe then I would agree. If you are talking Independent agents. Then, that is not my experience. Having been both F2F and now primarily phone my persistency is very high. And I have not met the majority of my clients F2F or maybe once 20 years ago. The in bound calls and referrals I have gotten since Christmas cover CA, Texas, LA and IL. I am not driving any of that (CA is 900 miles long and about 20 straight hours to drive) and I do not plan on not writing these referrals. I am comfortable that If I write them they will stick. I will also then start prospecting their families and friends, by phone, text and email.
My point is, If I meet Mr and Mrs Jones and the policy needs to be replaced. I can replace it whether it was a F2F agent or a guy on the phone. Now one early questions is what do they have and how many times has the salesman call them since selling them he policy. I Hope I hear never or only to try to replace the policy with a new policy. I am really happy if they add he wrote someone else they know. I can replace a poor F2F agent as fast as a poor phone agent. Has nothing to do with F2F or Phone.
Again, I am speaking about Independent agents. Not, Call Center or captive agents.
- 26,145
First, I just do not get that many NSFs. If I do I work it the same whether it is first year or 5th year.
I call, Text and or Email. Most reply. If not I Email, Text and snail mail a copy of the pending lapse notice. They all get a text and email from me early on so they can put me in their address book. I may reach out to the Beneficiary and or the Secondary Addressee. I have probably spoken to these people already since I contact most of them after I write the policy. Just does not happen that often they do not reply.
It is a good time to do a review by phone and softly get referrals. Grandkids, sisters, best friends. Rotating inventory.
There is next to no way I am doing a lot of door knocking chasing FE NSFs. Next!
- 1,912
Foresters pulled out due to mostly material misrepresentation. Which caused alot of business to go not taken, and even some people to be placed with them that should not have been written in the first place.
Foresters got it wrong. They opened up telesales to just about anyone, with no compliance oversight, and required no recordings to ensure proper (and ethical) salesmanship.
For telesales to work on a large (and profitable) scale look at the carriers who are doing it for the longest, and how they are doing it.
Colonial Penn, AARP, Globe Life, Gerber (nonbroker side)....
They are selling One product (no adverse selection), with ultra high compliance standards.
Rob Lion
Guru
- 653
I started selling over the phone by myself since September, i didn't join an actual telesales IMO until November. You sure have an interest in me.
Similar threads
Latest posts
-
-
Los Angeles Fires Become Existential Test for California’s Stopgap Insurer- Latest: marindependent
-
