I got into the P&C business last year after being in the life side for over 10 years...I thought it would be good daytime business to prospect and cross sell business owners. I have been approaching business owners using QMOD for their comp renewal but it is MUCH harder than I thought. I really thought people would at least hear me out for a quote to save them money but the relationships these people have with their agents is hard to beat. I am at a loss on how to start to bring in business. I can sell personal lines as well but I have no idea how to get clients.
crickets....where are all the clients?
- Thread starter Advisor06
- Start date
- 15,041
- Thread starter
- #3
- 15,041
Because, that is the beauty of CL. Much more relationship than PL. Ignoring owners that are constant shoppers and certain industries where it is the norm, it is very much a relationship. Did you do a better job of solving their problem than the last guy? Is the coverage right and are you getting them a good rate for it? Is your service good, no billing issue, no surprises at audit time, are you getting them their certs in a timely fashion? How's your golf game?
By and large, and market you have access to, several of your competitors have access as well. This isn't PL where captives and direct writers control the market, in CL independents control the market and businesses are use to their agent having multiple companies for them.
Again, I'm far from an expert on CL, just from working with a CL guy in the past and paying attention over the years.
RickyG
Expert
- 67
I think its a combination of the fact that nobody can turn on a tv, radio, podcast, web browser or look out the window without a Progressive or GEICO ad hitting them in the face and people generally don't want to deal with auto/home insurance until they HAVE to. Don't worry you will get the clients when its 1 day before renewal and they feel like shopping around. It will be rush rush rush.
- 5,296
I write commercial lines only, with a little bit of life and legal. Throughout my career, most of the policies I have written have been midterm rewrites, or midterm BOR's. Most people, however, get the business on the renewal. I am unusual in that respect.
As far as RickG's comment, I'm sorry, but everything he said is wrong in regards to commercial. They do not wait until the last minute, and there's very little broadcast marketing for commercial insurance. Virtually none. What he said, however, is accurate in regards to personal lines.
There's a larger issue that no one has touched on. And it needs to be the first to address. The type of sales process and often the type of person that succeeds in a life insurance sale is different than the type of sales process and often the person that succeeds in commercial p&c. The type of personality that can excel in life insurance sales is usually not the same type of person that can do well in commercial p&c.
If you're using the same attire, language, and sales technique to sell commercial P&C as what you found successful in life sales, then you are likely going go to have a rough time.
To further drive home the point, I am loud, direct, tactless, and often poorly dressed. I couldn't sell life only. I would starve. I do poorly with certain industries with sensitive people as I am too abrasive, such as caregivers or nonprofits. I do well with investors, blue collar, and highly analytical people. People that like to cut to the bottom line and don't care about pleasantries, nice outfits, or fancy presentations. I focused on the people that respond well to me, and it has resulted in my success.
As far as RickG's comment, I'm sorry, but everything he said is wrong in regards to commercial. They do not wait until the last minute, and there's very little broadcast marketing for commercial insurance. Virtually none. What he said, however, is accurate in regards to personal lines.
There's a larger issue that no one has touched on. And it needs to be the first to address. The type of sales process and often the type of person that succeeds in a life insurance sale is different than the type of sales process and often the person that succeeds in commercial p&c. The type of personality that can excel in life insurance sales is usually not the same type of person that can do well in commercial p&c.
If you're using the same attire, language, and sales technique to sell commercial P&C as what you found successful in life sales, then you are likely going go to have a rough time.
To further drive home the point, I am loud, direct, tactless, and often poorly dressed. I couldn't sell life only. I would starve. I do poorly with certain industries with sensitive people as I am too abrasive, such as caregivers or nonprofits. I do well with investors, blue collar, and highly analytical people. People that like to cut to the bottom line and don't care about pleasantries, nice outfits, or fancy presentations. I focused on the people that respond well to me, and it has resulted in my success.
- 977
Advisor,
What businesses are you targeting?
I don't do much CL but have a full-time producer who does, and he is also working comp renewals and the most common complaint he gets is "I haven't seen my agent in years".
What businesses are you targeting?
I don't do much CL but have a full-time producer who does, and he is also working comp renewals and the most common complaint he gets is "I haven't seen my agent in years".
- 694
Lots of questions... average premium of these risks? How creative do you get on the call? Do you already have 1-2 carriers that are willing to be aggressive on their account? Anything compelling why they should give you a shot? Look how ez it was for you to get their number, assume they just got 10 calls right before you. The market right now is very soft so it can be hard to justify the time it takes to quote.
I telemarketed for longer then I want to admit. PM if you have questions.
I telemarketed for longer then I want to admit. PM if you have questions.
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