All-State Producer

[Bertolinoins]

We must suck because We only close about 28% of all commercial quotes... thankfully that 28% equals about $90k a month in new business premium. Agents that close 70% are like skiers that never fall... they are not pushing themselves hard enough. Incumbents keep the account 85% in this business... So if you are winning 70% of the time then you are only picking the low hanging fruit.

 

[dryheat]

I'm an IA agent with many carriers. we close 90% of our warm leads (ie. referrals). we close roughly 60% of our cold leads (ie. higher quality leads, online requests).

 

[pcbinsurance]

we close roughly 60% of our cold leads (ie. higher quality leads, online requests).
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How can an online request be a cold lead?

 

[zbest1966]

Steve is that auto you close 60%, I guess you a IA

 

[JCK818]

We must suck because We only close about 28% of all commercial quotes... thankfully that 28% equals about $90k a month in new business premium. Agents that close 70% are like skiers that never fall... they are not pushing themselves hard enough. Incumbents keep the account 85% in this business... So if you are winning 70% of the time then you are only picking the low hanging fruit.

HUH?????
If I'm closing 70% and you are closing 28%, how are you exactly doing better?I do not see you logic here.

 

[Bertolinoins]

HUH?????
If I'm closing 70% and you are closing 28%, how are you exactly doing better?I do not see you logic here.

Touching more people. Our agency wrote $212,000 in new biz premium on 6/1. It is about dollars, not closing ratio. The more people you contact the more money you make... but you also are going to have a much lower closing ratio because they are not warm referrals.

 

[dryheat]

we close roughly 60% of our cold leads (ie. higher quality leads, online requests).
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How can an online request be a cold lead?

I am refering to leads that we contact 1st (ie. the prospect did not contact us to request a quote)

 

[JCK818]

Touching more people. Our agency wrote $212,000 in new biz premium on 6/1. It is about dollars, not closing ratio. The more people you contact the more money you make... but you also are going to have a much lower closing ratio because they are not warm referrals.

In the last 3 years, we have had 93 percent retention rate on our commercial stuff. While I'm not writing $212k in premium a day (we'll get there some day), talking by percentage only, I still do not see how you are more efficient. Look you might have 10-15 producers who are producing for you and that is great. We are a new agency and I think we do amazing for our age and size.
If you don't mind, do you guys do telemarketing and if so, is it cold calls?

 

[Bertolinoins]

In the last 3 years, we have had 93 percent retention rate on our commercial stuff. While I'm not writing $212k in premium a day (we'll get there some day), talking by percentage only, I still do not see how you are more efficient. Look you might have 10-15 producers who are producing for you and that is great. We are a new agency and I think we do amazing for our age and size.
If you don't mind, do you guys do telemarketing and if so, is it cold calls?

That was done by 3 producers. We telemarket to business and property owners. I agree that a 90+% retention rate is outstanding and you should be very proud of that.

 

[Guest]

mine is bigger than yours.