Any Home Service/Debit Agents Out There ?

[TXInsuranceAgent]

Hey ya'll,

I wanted to hear from those that currently are or started as a debit agent. I would like to hear which approach worked best for you. Door knocking, calling, direct mail? Is this side of the business pretty much telling the customer that this policy is what they need?
These past couple of months have been tough for me. It's tough at it including the heat index. Anyway, sales have been slow and it seems like everybody's money is tight or they just keep putting it off. I'm starting to see what some previous agents complaints are about. Lapse rate, feeling like you are "chasing the clients" for their monthly premium, rates are high and only being able to work your agency area.
Thanks for your time and any ideas are greatly appreciated!

 

[rousemark]

Re: Any Home Service/debit Agents Out There?

I started as an debit agent years ago.. Prospecting consisted of working the book, additional coverages, getting referrals from the current clients (pay particular attention to the photos in the home) and canvassing..

If you are collecting a debit, there are going to be times that you will have to "chase the clients". However, you need to learn to manage the debit and not let the debit manage you. Debit clients have to be "trained" and if they have been trained that the agent will make a half dozen trips then they will take advantage of it. You will have a hard time retraining existing clients but you can can train the ones you write form the beginning. I learned early on not to write debit business at any time that I did not want to collect it. For example I would not write debit business on Saturday because if you write it on Friday or Saturday, they will expect you to collect it on Friday or Saturday.

When it comes to the sales process, it is the same selling debit business as it is selling any other type of insurance product. You have to develop a need, have he prospect recognize and agree there is a need and then present the best product to satisfy that need. Even though the policies may be small, you can't shortcut the normal sales process.

 

[cds251]

Re: Any Home Service/debit Agents Out There?

It's going to depend a lot on the size of your book and the way your office is run.

The collections will be the problem, and you are always going to be "chasing" them........

In most cases, there seems to be little freedom in doing what you need to be doing. If your staff manager says your in arrears are too high then you will be collecting all day long. Then when you get your arrears down you won't have enough sales.........

Do you prefer collections or sales?

 

[TXInsuranceAgent]

Re: Any Home Service/debit Agents Out There?

I started as an debit agent years ago.. Prospecting consisted of working the book, additional coverages, getting referrals from the current clients (pay particular attention to the photos in the home) and canvassing..

If you are collecting a debit, there are going to be times that you will have to "chase the clients". However, you need to learn to manage the debit and not let the debit manage you. Debit clients have to be "trained" and if they have been trained that the agent will make a half dozen trips then they will take advantage of it. You will have a hard time retraining existing clients but you can can train the ones you write form the beginning. I learned early on not to write debit business at any time that I did not want to collect it. For example I would not write debit business on Saturday because if you write it on Friday or Saturday, they will expect you to collect it on Friday or Saturday.

When it comes to the sales process, it is the same selling debit business as it is selling any other type of insurance product. You have to develop a need, have he prospect recognize and agree there is a need and then present the best product to satisfy that need. Even though the policies may be small, you can't shortcut the normal sales process.

Thanks for your input Rousemark. I have heard before and am realizing that you have to "train" some of your clients as to when you will be around. Luckily, my book is in the town I live in and don't have to travel too far.
I almost feel handcuffed with this side of the business but being in front of my collection clients are where I pick up additional business or referrals. It may just be a mindset, but our rates do not seem to be competitive enough and I can't help but feel that being independent and providing better rates would be an easier sale. Seeing how most of our clients only care about 1 thing, how much is it?
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It's going to depend a lot on the size of your book and the way your office is run.

The collections will be the problem, and you are always going to be "chasing" them........

In most cases, there seems to be little freedom in doing what you need to be doing. If your staff manager says your in arrears are too high then you will be collecting all day long. Then when you get your arrears down you won't have enough sales.........

Do you prefer collections or sales?

Hey cds,

I will agree that there is some freedom to do other things if need be. I have been able to keep my arrears at 8% or lower since I have been on the book. The unfortunate part for me is for the last couple of months I did not have enough sales to cover the lapse. It's just been too dadgum hot to cold door knock.
I prefer the sales side over collecting but sometimes there are those days where you just don't feel like talking to anybody.

 

[CMS]

Re: Any Home Service/debit Agents Out There?

wen I started n da ins biz my company wuz making a transition out of da debit biz & into ordinary-payroll biz. My first month on my own I went out & converted da clients to mail pay or bankdraft. I did a lot of cold calling either door to door or on da the phone. After a while I started working referals & setting appt. After 10 yrs of working for a homeservice company I went indy. Now I sell over da phone. I do occasionally meet w/ prospect @ their home or for lunch @ a restaurant. I still have prospects ask me do I come around & collect ea month. I tells them no dat they either have to mail in or do a bankdraft.

 

[WinoBlues]

Re: Any Home Service/debit Agents Out There?

wen I started n da ins biz my company wuz making a transition out of da debit biz & into ordinary-payroll biz. My first month on my own I went out & converted da clients to mail pay or bankdraft. I did a lot of cold calling either door to door or on da the phone. After a while I started working referals & setting appt. After 10 yrs of working for a homeservice company I went indy. Now I sell over da phone. I do occasionally meet w/ prospect @ their home or for lunch @ a restaurant. I still have prospects ask me do I come around & collect ea month. I tells them no dat they either have to mail in or do a bankdraft.

What is your demographic?

 

[moonlightandmargaritas]

Is this side of the business pretty much telling the customer that this policy is what they need?

In any sales position, insurance or not, telling the customer that this is what they need, is a sure prescription for failure.

 

[TXInsuranceAgent]

In any sales position, insurance or not, telling the customer that this is what they need, is a sure prescription for failure.

Hey M&M...i feel the same as you but it in some cases it seems like you have to make their mind up for them and not give them many choices.

 

[arnguy]

There is a forum member whose User Name is HomeService. I don't know if he still is a debit agent, but maybe you should contact him.

 

[TXInsuranceAgent]

There is a forum member whose User Name is HomeService. I don't know if he still is a debit agent, but maybe you should contact him.

Thanks for the heads up ARN