Closers versus Insurance Salespersons ???
- Thread starter myinsurebiz
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- #43
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bobby said - " From your very first three words, my suggestion is to get out of the business, and let a professional take it on. You are a closer, which means you care nothing about those to whom you offer the service. "
LOL @ "professional". Look - selling insurance isn't rocket science, nor does it take a "professional" to do it - no offense. I certainly "care" about the client - or I wouldn't take their business to the agent that will provide them the best coverage for their area - instead, I would just sell them one of the plans I'm appointed to sell.
mm said - " Many of us work very hard to raise the professionalism of this business. Do you suppose an attorney, accountant, or physician refers to them as "deals"? "
Dude - the only comparison insurance sales has to the industries you mentioned is possibly the earning ability. Attorneys and Doctors have 7 to 12 years of college. I became an insurance agent in 19 hours of pre-testing, 90 minutes of testing and $300. Be real - ok . . .
win said - " The only person that wants to be a "closer" is someone that either can't get a license or can't get appointed. Anyone else got an good reasons one would chose this imaginary position. "
Not! We will only work with licensed insurance agents - period. The "appointment" process is time consuming, not to mention the certifications, trainings, etc . . . The purpose of closers is to "close" deals in mass and in the least amount of time necessary. I guess we'll see . . .
expat said - " Far too dangerous to sign off on one of these "Closed Deals".
It leaves the door wide open for misrepresentation, clean sheeting, lying, on the application and to the client and all kinds of mayhem. Down the road, in the not too distant future, I forsee being fired, loss of license, renewals and maybe even criminal charges. Also any policy recissions, and a law suit may follow. All in all, far too dangerous. "
In case you missed it - the closer passes the deal to the writing agent who then goes over the app, the summary of benefits, etc with the client. This can be done via the phone or webcast.
Impossible to be misrepresented. "Lying?" - like clients do not lie to an agent any time? If the client is going to lie - I doubt it depends on who the agent is. Criminal charges? If it can't be done legally - we won't do it.
I may just use the auction setup for the pre-closed lead. Seems one of the callers likes this concept. I mean - a writing agent can make 25% to 50% on a deal for spending less than an hour verifying the app and processing the app. The hardest part - the lead generation and the close is done!
We'll see . . .
Tom
LOL @ "professional". Look - selling insurance isn't rocket science, nor does it take a "professional" to do it - no offense. I certainly "care" about the client - or I wouldn't take their business to the agent that will provide them the best coverage for their area - instead, I would just sell them one of the plans I'm appointed to sell.
mm said - " Many of us work very hard to raise the professionalism of this business. Do you suppose an attorney, accountant, or physician refers to them as "deals"? "
Dude - the only comparison insurance sales has to the industries you mentioned is possibly the earning ability. Attorneys and Doctors have 7 to 12 years of college. I became an insurance agent in 19 hours of pre-testing, 90 minutes of testing and $300. Be real - ok . . .
win said - " The only person that wants to be a "closer" is someone that either can't get a license or can't get appointed. Anyone else got an good reasons one would chose this imaginary position. "
Not! We will only work with licensed insurance agents - period. The "appointment" process is time consuming, not to mention the certifications, trainings, etc . . . The purpose of closers is to "close" deals in mass and in the least amount of time necessary. I guess we'll see . . .
expat said - " Far too dangerous to sign off on one of these "Closed Deals".
It leaves the door wide open for misrepresentation, clean sheeting, lying, on the application and to the client and all kinds of mayhem. Down the road, in the not too distant future, I forsee being fired, loss of license, renewals and maybe even criminal charges. Also any policy recissions, and a law suit may follow. All in all, far too dangerous. "
In case you missed it - the closer passes the deal to the writing agent who then goes over the app, the summary of benefits, etc with the client. This can be done via the phone or webcast.
Impossible to be misrepresented. "Lying?" - like clients do not lie to an agent any time? If the client is going to lie - I doubt it depends on who the agent is. Criminal charges? If it can't be done legally - we won't do it.
I may just use the auction setup for the pre-closed lead. Seems one of the callers likes this concept. I mean - a writing agent can make 25% to 50% on a deal for spending less than an hour verifying the app and processing the app. The hardest part - the lead generation and the close is done!
We'll see . . .
Tom
- 14,808
And if the best carriers for the client in a particular state are Aetna and Humana how are you paying everyone on as-earned commissions?
- 748
I think that you are missing my point.. The first agent to "Close the Deal"
is the one who will be setting the stage for filling out the application. Who is to know if he or she has coached the client on what to say in order to get the preferred rate or even to get the policy issued. It may well be that this agent will be honest and ethical and there will be no problems.
However there is absolutely no way that you can guarantee that all of
your "Closers" are going to be honest and that they will not cut corners.
Looking around at some of these wankers who misrepresent Right start, Mega and UA etc., there is no shortage of unethical pricks.
Also I do not think that any agent who is halfway good, is going to give up so much of his commission. I know for sure that I would not. Not even for a "Slam dunk".
- Thread starter
- #46
- 6,010
john said - " And if the best carriers for the client in a particular state are Aetna and Humana how are you paying everyone on as-earned commissions? "
We have a group that will advance our closers on deals for a % of the over-all commissions, should they choose this option.
expat said - " I think that you are missing my point.. The first agent to "Close the Deal" is the one who will be setting the stage for filling out the application. Who is to know if he or she has coached the client on what to say in order to get the preferred rate or even to get the policy issued. "
I'm sure this risk exists in any "agency" type environment. We won't tolerate it if we become aware of it.
" It may well be that this agent will be honest and ethical and there will be no problems. However there is absolutely no way that you can guarantee that all of your "Closers" are going to be honest and that they will not cut corners. "
This is true in any business environment. But - with the writing agent performing their own due diligence, contacting the client for review and developing the relationship with the client - it should be minimal.
" Also I do not think that any agent who is halfway good, is going to give up so much of his commission. I know for sure that I would not. "
You have blinders on and can't see the forest for the trees. Any deal we bring our participating writing agents are gravy - deals they would not have had without us. Like a bonus . . .
In addition - I foresee us having a few hundred writing agents. Most will be appointed with multiple carriers and some will be licensed in more than one State. I won't have trouble finding the writing agents. In fact - I imagine they will come to us once the word gets out.
We'll see . . .
Tom
We have a group that will advance our closers on deals for a % of the over-all commissions, should they choose this option.
expat said - " I think that you are missing my point.. The first agent to "Close the Deal" is the one who will be setting the stage for filling out the application. Who is to know if he or she has coached the client on what to say in order to get the preferred rate or even to get the policy issued. "
I'm sure this risk exists in any "agency" type environment. We won't tolerate it if we become aware of it.
" It may well be that this agent will be honest and ethical and there will be no problems. However there is absolutely no way that you can guarantee that all of your "Closers" are going to be honest and that they will not cut corners. "
This is true in any business environment. But - with the writing agent performing their own due diligence, contacting the client for review and developing the relationship with the client - it should be minimal.
" Also I do not think that any agent who is halfway good, is going to give up so much of his commission. I know for sure that I would not. "
You have blinders on and can't see the forest for the trees. Any deal we bring our participating writing agents are gravy - deals they would not have had without us. Like a bonus . . .
In addition - I foresee us having a few hundred writing agents. Most will be appointed with multiple carriers and some will be licensed in more than one State. I won't have trouble finding the writing agents. In fact - I imagine they will come to us once the word gets out.
We'll see . . .
Tom
- 133
From my point of view, as a small town Independent agent, I can't really imagine trying to work with the kind of volume that Tom here is talking about. I know all of my clients personally, (or at least I'm well acquainted with them), and I don't really think about this as a "turn and burn" business. I'm not trying to get rich, only to make a good living, and have a good business. Granted, I don't see my insurance business as my lifetime career, but I don't ever plan on "closing" my insurance office either.
Getting back to the point of this thread, I would imagine that if Tom was to get a General Agent contract with his carriers, then he could have a "downline", or producers appointed under him. Of course, he'd still have to worry about getting his "closers" appointed, but in my opinion, if you're not appointed with an insurance company, even if you are a licensed agent, you don't have any business selling their products.
Just my two cents worth,
Dave
Getting back to the point of this thread, I would imagine that if Tom was to get a General Agent contract with his carriers, then he could have a "downline", or producers appointed under him. Of course, he'd still have to worry about getting his "closers" appointed, but in my opinion, if you're not appointed with an insurance company, even if you are a licensed agent, you don't have any business selling their products.
Just my two cents worth,
Dave
- 3,384
What kind of agent is going to agree to this? Only a new, inexperienced agent. Experienced agents can qualify their own prospects. Just because someone "closes" a sale does not mean that the applicant can pass underwriting.
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norcalinsurance
Expert
- 68
My agency is in CA.
I guess this isn't such a bad idea, but you & your "boys" that you send around to 'close' your deals, your going to have to try & close people without being allowed to talk about the price of any policy, quoting prices is not legally allowed, nor is any fact finding with the intent to sell to a customer a product in any line of insurance. This all = your closing ratio will be nil because the customer will choose a professional who can talk price, products, etc...
How about this:
Have your "boys" get licensed, then start up your program. Once your 'boys' get licensed, send a few over my way.
PM me and I'll let you write business under my license # while you close them, and I'll maintain the account. Sounds great. PM me when your licensed!
I guess this isn't such a bad idea, but you & your "boys" that you send around to 'close' your deals, your going to have to try & close people without being allowed to talk about the price of any policy, quoting prices is not legally allowed, nor is any fact finding with the intent to sell to a customer a product in any line of insurance. This all = your closing ratio will be nil because the customer will choose a professional who can talk price, products, etc...
How about this:
Have your "boys" get licensed, then start up your program. Once your 'boys' get licensed, send a few over my way.
PM me and I'll let you write business under my license # while you close them, and I'll maintain the account. Sounds great. PM me when your licensed!
- 3,384
Ok, let's take this down to the ground level since I write more premium in a week than you can write in year, closer.
Unless you have an application and check in your hand, you do not have a close, period. You can call whatever you think you do whatever you want, but you are not closing anything. Qualifying a prospect is not a close, period. At best you are setting up a potential sale. The writing agent will still need to do a close and collect the application and check to officially close the case (if the person who is possibly highly unqualified can even pass underwriting) or doesn't change their mind for some reason.
So basically you have provided simply a lead, no matter how highly qualified. Wow, now you are just like Vimo, Norvax and about six hundred other companies that can provide live transfer (are you going to even do that??) leads to agents. Difference is that they only charge a one-time fee for thier lead. You however want a part of the commission as a fee, ongoing.
Just a few weeks ago there was some guy on here who wanted to re-create e-healthinsurance and e-surance. So you want to recreate every lead service out there but charge more and rape an agent. Wow, great idea, NOT!
Might work in "your area", but won't fly in places like California. No agent except a rookie would be dumb enough to go along with this. Total ripoff.
BTW, recommending a product in California without appointment is illegal and can result in servere penalties to include jail time and loss of license.
Unless you have an application and check in your hand, you do not have a close, period. You can call whatever you think you do whatever you want, but you are not closing anything. Qualifying a prospect is not a close, period. At best you are setting up a potential sale. The writing agent will still need to do a close and collect the application and check to officially close the case (if the person who is possibly highly unqualified can even pass underwriting) or doesn't change their mind for some reason.
So basically you have provided simply a lead, no matter how highly qualified. Wow, now you are just like Vimo, Norvax and about six hundred other companies that can provide live transfer (are you going to even do that??) leads to agents. Difference is that they only charge a one-time fee for thier lead. You however want a part of the commission as a fee, ongoing.
Just a few weeks ago there was some guy on here who wanted to re-create e-healthinsurance and e-surance. So you want to recreate every lead service out there but charge more and rape an agent. Wow, great idea, NOT!
Might work in "your area", but won't fly in places like California. No agent except a rookie would be dumb enough to go along with this. Total ripoff.
BTW, recommending a product in California without appointment is illegal and can result in servere penalties to include jail time and loss of license.
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