Carriers Marketing Directly to Agency Clients

I've got to tell you this about Travelers. They sent out a memo that to qualify for homeowner insurance you couldn't have more than one non weather related water loss in the last three years. I get this and have no problem with it. I had a couple that owned an older house in another town. There was a water leak in the bathroom so there was a claim paid in the amount of $4,600 on 9/29/22 and the claim was closed. They purchased a beautiful $500,000 home in another town and moved. The roof was replaced three years ago so everything was fine until the Lexus Nexus report was received. It showed the loss from 9/29/22 which was acceptable but then also showed another loss on 9/29/22, amount paid 0 and claim closed. You don't have to be very smart to realize that this is a duplicate, right? Not if you work at Travelers. They wouldn't insure the house because of two non weather related water losses were reported for the same month, day and year and nothing was paid. I went as high up the ladder I could to find someone with some common sense but they said they would not insure because of two losses. You can fix ignorance with education but you can't do anything about being stupid.
 
I hate to hear the word, Lexius Nexus
Preach.

I actually think the only people making money in insurance industry the last 10-15 years are all the data sellers that promise better clients, better loss ratios, lower expenses from less humans....and seems like all the carrier financial numbers have only gotten worse during this timeframe
 
If the carrier solicits for a new line of business, would that not be on the current agents behalf? Or are they using in-house agents to solicit business from accounts placed by outside agents?

If I sold someone an Ameritas term policy. And Ameritas sends them a DI mailer and they want DI... I would get that phone call. Is this different?
 
Preach.

I actually think the only people making money in insurance industry the last 10-15 years are all the data sellers that promise better clients, better loss ratios, lower expenses from less humans....and seems like all the carrier financial numbers have only gotten worse during this timeframe

Ive always thought that about lead vendors and "sales systems" that promise to make you rich.

Put someone in a commission only job.
Give them production requirements, but no leads.
No training on how to prospect.
And it leads to desperate decisions being made.

We see it here on the forum. People post "Ive got my last $1000 in marketing money, which lead vendor wont scam me like the others did?"

I just spoke to an agent today, not an FE agent, who door knocks in his area. Nice middle and upper middle class neighborhoods. He made 3 term sales yesterday doing that.

Agents want a magic solution, very few are willing to put in the work required. You can build an entire business with zero spend on marketing. Just blood/sweat/tears.
 
Of course the problem with that may well be that the carrier that you refuse to do business with has the plan that best suits an individual consumer's needs. While not ideal for one's income, I do think there is a time and a place for an exception now and then. The Medicare programs come to mind - especially the network issues with MAP's coupled with MOOP.
That's a really good point.
 
If the carrier solicits for a new line of business, would that not be on the current agents behalf? Or are they using in-house agents to solicit business from accounts placed by outside agents?

If I sold someone an Ameritas term policy. And Ameritas sends them a DI mailer and they want DI... I would get that phone call. Is this different?
Yes I am referring to marketing where they are marketing to the client direct. If client calls its to the carriers in house sales, we get nothing
 
Agents want a magic solution, very few are willing to put in the work required. You can build an entire business with zero spend on marketing. Just blood/sweat/tears.

This.
I was with a P&C agency that should have written their contracts on an etch a sketch they changed them so often. Oct 1991, Oakland Fires. He comes with a new contract. I say no, he says there is a box in the break room for your stuff. I left with my life clients, a computer with I think 5 megs of ram, a nine pin printer and a box I paper, I stole.
My wedding was set for December 7th. And I was now unemployed. Starting from scratch.

Best thing that could have happened to me. I still have some of the families I wrote back then.
 
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