62 X-dates

[VaDwayne]

I have my follow-up system set to the first day of the month that I want to call clients that I have cold-called and they gave me their X-date. I woke up this morning to 62 commercial clients that I have collected over the last couple of years, in a 50 mile radius, that have x-dates coming up in March-April. Heck, my first year all I did is cold-call, everyday it seems.

These are fairly decent leads because I don't schedule a call- back for anyone that has been with their agent for a long time, say that they quote it every year and would like A QUOTE, or causes me concern that I would simply be wasting my time.

My question is this, have you ever gotten to a point where you say you are only going to call on businesses that will be over X amount of dollars in premium? Sometimes I feel like I'm smothering with the small stuff and using valuable time that I could be using to contact and work larger accounts. I'm starting to get referrals mixed in too. How do your handle your business?

 

[Norwayguy]

I have my follow-up system set to the first day of the month that I want to call clients that I have cold-called and they gave me their X-date. I woke up this morning to 62 commercial clients that I have collected over the last couple of years, in a 50 mile radius, that have x-dates coming up in March-April. Heck, my first year all I did is cold-call, everyday it seems.

These are fairly decent leads because I don't schedule a call- back for anyone that has been with their agent for a long time, say that they quote it every year and would like A QUOTE, or causes me concern that I would simply be wasting my time.

My question is this, have you ever gotten to a point where you say you are only going to call on businesses that will be over X amount of dollars in premium? Sometimes I feel like I'm smothering with the small stuff and using valuable time that I could be using to contact and work larger accounts. I'm starting to get referrals mixed in too. How do your handle you business?

Sounds like agood problem to have...You can definatly follow up with the more cost effective clients first and if you find your reaching a point of not being able to get back to all of your leads you might want to think about working with another agent you trust for a commission split cause face it if you don't quote it your definatly not getting the business.

Other options would be to hire a support person to help process some of this stuff...I know I'm not a P&C guy and can't get any more specific.

By the way...Good job!

 

[VaDwayne]

Sounds like agood problem to have...You can definatly follow up with the more cost effective clients first and if you find your reaching a point of not being able to get back to all of your leads you might want to think about working with another agent you trust for a commission split cause face it if you don't quote it your definatly not getting the business.

Other options would be to hire a support person to help process some of this stuff...I know I'm not a P&C guy and can't get any more specific.

By the way...Good job!

My biggest concern is getting a bad name for not being helpful when people call. I definitely don't want word getting around that says"don't call him,he won't help you". This is smalltown USA. On top of my leads, I have an Allstate agent sending me anything Allstate won't write for him. He refuses to write surplus lines business, because his dad ( the original agent) didn't do it.

 

[Guest]

do you have staff?

This is what I would do, especially since CL is much more complicated...
I would personaly, go after the higher premium accounts, and pass off the smaller accounts to a producer...

First, YOU want the larger accounts, and second, this will help teach the producer about CL slowly...

 

[VaDwayne]

do you have staff?

This is what I would do, especially since CL is much more complicated...
I would personaly, go after the higher premium accounts, and pass off the smaller accounts to a producer...

First, YOU want the larger accounts, and second, this will help teach the producer about CL slowly...

I am a producer for a large agency, however I stayed independent and write TROUGH the agency instead of being paid staff, and work on a 75/25 split on new business and referrals. I like my freedom to come and go as I please..

We are a large agency. We have 7 agents in commercial, 5 in personal lines, 5 financial planners, 3 L&H agents, and support staff. We are also getting ready to have a well-known mortgage person who can give referrals to the personal lines people and he has some leads for me as well. I also get fed leads by the other agents as well.

The commercial side does have 3 salaried ladies, who are licensed agents, to do my paperwork, write smaller policies, etc.

 

[infoe]

Great Job man..love hearing success stories...what if you did something outside the box and hired someone to set the appointments up for you and or your own personal assistant. would the agency charge you for the extra space? if so would it be worth it? This is where the typical answer would be hire more staff so outside of that not sure..

Again great job man. I hope to mirror your success..

 

[VaDwayne]

Great Job man..love hearing success stories...what if you did something outside the box and hired someone to set the appointments up for you and or your own personal assistant. would the agency charge you for the extra space? if so would it be worth it? This is where the typical answer would be hire more staff so outside of that not sure..

Again great job man. I hope to mirror your success..

No,but I don't get charged for my space either. I really am not looking to get that big. I enjoy the volunteering time that this business allows me and I have no interest in working 60-70 hours a week. When I turned 45 I had spent 20 years in the car business. On that day I said that I would never do something that I didn't enjoy ever again, like working 70 hours a week in a car dealership. I am going to work 40-50 hours a week and if I make $50,000 or $1 million dollars, I am not working more than that but I'd much rather have the million.

I guess my goal is to have about 25 large businesses on the books at any given time with annual premiums of with annual premiums of $25,000 or more, or 50 at $12500 or more and just maintain that level. That would pay me about $90,000 a year and I'm cool with that. As long as I can continue paramedic class, do my volunteer EMT time, spend time with my family, I am perfectly happy.

However, I want to make as much as possible in the time that I do devote to this business. I need to figure out how to get the most out of every single hour I work and writing $450 accounts isn't the answer. I have an 18 year old son that I missed most of his life by working all of the time and that will not happen to my 14 year old daughter, or my wife. I've jumped off of that train..

 

[Norwayguy]

No,but I don't get charged for my space either. I really am not looking to get that big. I enjoy the volunteering time that this business allows me and I have no interest in working 60-70 hours a week. When I turned 45 I had spent 20 years in the car business. On that day I said that I would never do something that I didn't enjoy ever again, like working 70 hours a week in a car dealership. I am going to work 40-50 hours a week and if I make $50,000 or $1 million dollars, I am not working more than that but I'd much rather have the million.

I guess my goal is to have about 25 large businesses on the books at any given time with annual premiums of with annual premiums of $25,000 or more, or 50 at $12500 or more and just maintain that level. That would pay me about $90,000 a year and I'm cool with that. As long as I can continue paramedic class, do my volunteer EMT time, spend time with my family, I am perfectly happy.

However, I want to make as much as possible in the time that I do devote to this business. I need to figure out how to get the most out of every single hour I work and writing $450 accounts isn't the answer. I have an 18 year old son that I missed most of his life by working all of the time and that will not happen to my 14 year old daughter, or my wife. I've jumped off of that train..

Well I guess nowis the time to give back...Is there a new producer you can take under your wing and turn these leads over to him/her as good will or for a split.

 

[VaDwayne]

Well I guess nowis the time to give back...Is there a new producer you can take under your wing and turn these leads over to him/her as good will or for a split.

That my be a great idea..

 

[Bertolinoins]

I run my prospecting lists through sales genie and I only target accounts with 10-50 employees and sales over $1m. My database has about 2900 businesses within 50 miles In the industries I target. You get to choose the type of accounts you want to work with... if you spend a lot of time on small business owners with low minimum premiums... That Is what you will get but IMO you might as well write personal lines vs. $500-750 BOP's. I like premiums in the $10-100k range because you are dealing with the owner and you are operating under the radar of the big national and large regional brokers. You get bigger than that and you start dealing with controllers (who can be easily influnced and often move around) and the competition is stiff and relentless.