Am I Charge Back Hell?

[jdeasy]

The secret is stop selling to the ghetto and start selling working-class and up, preferably in the rural areas.

If new agents would follow this one rule, it will stop a lot of the chargeback hell from occurring.

I wouldn't argue that point for other agents because I don't know other's numbers. But the ghetto is my people. And I don't chase any business.

I don't know where my persistency puts me in comparison to other agents but I'm always told that I'm in the upper percentile and I've never had a company complain about my persistency except for AmAm.

 

[deadhead]

Is CBH like this

 

[Ex Health Agent]

I wouldn't argue that point for other agents because I don't know other's numbers. But the ghetto is my people. And I don't chase any business.

I don't know where my persistency puts me in comparison to other agents but I'm always told that I'm in the upper percentile and I've never had a company complain about my persistency except for AmAm.

If I didn't sell to the ghettos in Southern California I wouldn't have anyone to sell to.

 

[Toranaga]

Funny, not really, but I've been experiencing CBH and I'm 7 months in. Plus coming out of a rough January!! Ughhh

Yeah, it's really taken its toll on me. It lasted about eight weeks where I was not getting paid on new business with some of my main carriers, AMCON and 5 Star (formally my main carrier) I am finally clear with AmCon as of today. With 5 Star it's gonna take more time but I'm not selling them much any more as they are so caddywhompussed.

The hard part was that as all this was going on, I still had bills to pay, so buying leads became dificult, and that leads to fewer sales. Bit of a death spiral. All this combined gave me a bad case of commission breath too, which has severly affected my closing ratio.

Anyway, seems to be getting better. I'll be working my old stomping grounds up in West Tennessee this coming week. Working on getting my head back on track.

 

[Justin Bilyj]

In addition to the birthday card, do you send a card after they fill out the application before they are approved? Do you send a card after they are approved? Do you send a 6 month check in card to reiterate the reasons they took out the policy?
How much would 3 extra cards cost compared to the cost of a chargeback?
Something to think about if you are only sending birthday cards...

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[jdeasy]

In addition to the birthday card, do you send a card after they fill out the application before they are approved? Do you send a card after they are approved? Do you send a 6 month check in card to reiterate the reasons they took out the policy?
How much would 3 extra cards cost compared to the cost of a chargeback?
Something to think about if you are only sending birthday cards...

----------

In addition to the birthday card, do you send a card after they fill out the application before they are approved? Do you send a card after they are approved? Do you send a 6 month check in card to reiterate the reasons they took out the policy?
How much would 3 extra cards cost compared to the cost of a chargeback?
Something to think about if you are only sending birthday cards...

I don't do all of that. I send a thank you card to everyone that buys. Is end them as part of the getting the app ready. The file is not closed until the app is faxed in and the folder has "card sent" written on it. I wrote 3 apps today. Right now I'm faxing those in and sending the cards.

I don't send anymore cards. Birthday or otherwise. That's on FE clients. Med sup clients do get a birthday card.

 

[Toranaga]

In addition to the birthday card, do you send a card after they fill out the application before they are approved? Do you send a card after they are approved? Do you send a 6 month check in card to reiterate the reasons they took out the policy?
How much would 3 extra cards cost compared to the cost of a chargeback?
Something to think about if you are only sending birthday cards...

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Nah. Everybody gets a thank you card but I have to admit, I only sit down to do it every six weeks or so. My CBH kind of came in a big cluster. A whole big block of the business I wrote in September and Oct just collapsed on me in late November. I'm not sure why, but it was all AmCon and 5 Star. Maybe screwed up draft dates? Anyway, you know the rest of the story. Amcon and 5 Star quit paying me, and blah, blah blah.

 

[Rearden]

I am wondering if you have the same type of ghettos we get in Chattanooga and Cleveland, OH.

Mine used to be manageable, but now everything about dropping the 'hood sucks:

1) More no-shows (40% to 50%)
2) Less people without bank accounts
3) Many more problems with lapse/non-payment issues

I think it's safe to say the hood you work is the exception to the overarching rule.

I wouldn't argue that point for other agents because I don't know other's numbers. But the ghetto is my people. And I don't chase any business.

I don't know where my persistency puts me in comparison to other agents but I'm always told that I'm in the upper percentile and I've never had a company complain about my persistency except for AmAm.

 

[theinsuranceman]

Yeah, it's really taken its toll on me. It lasted about eight weeks where I was not getting paid on new business with some of my main carriers, AMCON and 5 Star (formally my main carrier) I am finally clear with AmCon as of today. With 5 Star it's gonna take more time but I'm not selling them much any more as they are so caddywhompussed.

The hard part was that as all this was going on, I still had bills to pay, so buying leads became dificult, and that leads to fewer sales. Bit of a death spiral. All this combined gave me a bad case of commission breath too, which has severly affected my closing ratio.

Anyway, seems to be getting better. I'll be working my old stomping grounds up in West Tennessee this coming week. Working on getting my head back on track.

Charge-backs come with the territory. If u ever meet a FE agent who says he/she doesn't have charge-backs they're either lying or they don't write any business.


If you wrote with a Co. that took charge-backs off the back end, instead of the front end, your comm. would come to you every week unaffected by charge-backs and your cash flow would be much more level.

 

[jdeasy]

I am wondering if you have the same type of ghettos we get in Chattanooga and Cleveland, OH.

Mine used to be manageable, but now everything about dropping the 'hood sucks:

1) More no-shows (40% to 50%)
2) Less people without bank accounts
3) Many more problems with lapse/non-payment issues

I think it's safe to say the hood you work is the exception to the overarching rule.

I would say they are the same neighborhoods. People are the same everywhere. I wouldn't think there would be much difference in the hoods from Northwest Tn thru Western Ky to Southwest In from the hoods in Southeast Tn and Northeast Ga.

Maybe they are? I would doubt it though.