Best Market To Specialize In Residuals ?

[dannysdad]

You want residuals? Become an allergy doctor. The weekly shots are a goldmine for these scam artists.

 

[ABC]

Residuals?

How long do you plan on keeping a client? I am not trying to be a jerk but its a legit question.

I would reccomend going to the health side. The reason being you could develope a very good website/SEO with quote engines and produce sales that way.

I think the indiviudal health market is moving more to online applications. I just started chasing the online applications a few months ago and I am averaging 3 people a month applying online without ever talking to me.

 

[rocketboy]

The more and more I think about it I steer towards health. I am just afraid it will all go away in the near future. Yes, we are currently designing a completely custom web site with 3-4 different types of quoting softwares involved. With a very unique name and look.



In a dream world I would like to keep clients for 10-20yrs. In the real world I know it doesn't work that way.

 

[ABC]

The more and more I think about it I steer towards health. I am just afraid it will all go away in the near future. Yes, we are currently designing a completely custom web site with 3-4 different types of quoting softwares involved. With a very unique name and look.
In a dream world I would like to keep clients for 10-20yrs. In the real world I know it doesn't work that way.

On the individual health side I am seeing an average of 2.5 years on the books. There are exceptions where you can have a client for 10 years or longer but most are 2.5 yrs.

I don't think health insurance will go away any time soon but I do think with the online applications we could see the carriers going direct even more so than now. I also think the quota's with the carriers to make higher commission will keep getting higher.

You might want to consider what level of service you going to give to clients or just churn and burn. Most of the agents that are just doing online sales are churning and burnning so there sales do not stay on the books as long. It easy for an agent that offers service to take business from a (CB)

 

[1manshow]

Niche P & C has some lucrative markets for those with the ability to put it all together. Too many years invested for me to change gears from PL P&C but if I were to do it over, I'd look at Aviation,Yacht or Professional Liability Niche markets. Long term profitability,persistency, renewal income are all positive.

 

[rocketboy]

That is a very interesting thought about the niche markets of P&C. I never really thought about those areas.

 

[1manshow]

Not nearly as volatile as health insurance either. Markets haven't changed much in the last ten years and you deal with clients who appreciate good, sound advice and require very little service...perfect for those who want to put their agency on autopilot.

I sold a book of about 1000 health clients to another agent 10 years ago and have never felt that I made a wiser decision. We only offer health insurance now as an accomodation to existing clients.....it's still a pain.

 

[bobson]

Niche P & C has some lucrative markets for those with the ability to put it all together. Too many years invested for me to change gears from PL P&C but if I were to do it over, I'd look at Aviation,Yacht or Professional Liability Niche markets. Long term profitability,persistency, renewal income are all positive.

I'm not one to toot anyone's horn, but if there is one guy on here that knows this business it's 1manshow. Go back and you can put together an entire marketing plan just from copying his posts to a Word doc.