Embarrassing, Arrogant Newbie Mistake I Wish I Never Committed

[theinsuranceman]

[quote=rousemark;633432]The reason I say the bad agents would be first to jump at higher commissions is they are out for themselves. They don't care if the client gets service or not. On lapses? Just go write it with anohter company and get a new first year comission.[/quote]

I don't know how mgr.s'/recruiters/IMO's can make any real $$$ when their agents can just take their lapses and rewrite them with another Co. under their umbrella and get a new 1st yr. comm.

The previous 1st yr. comm. sometimes is not even paid back/earned yet (re-instatement is in order), but instead of re-instatement the agent just writes the client a brand new app with a different Co. and they get advanced all over again with the same client.

And I'm not even talking about thoses agents rolling biz from Co. to Co. even though the client did not wilfully lapse their policy. Gotta be tough on the mgr.'s eating a lot of charge-backs from these agents.

 

[Mattschmidt]

I think these managers have the Same issues as SL managers have with lapses and charge backs. Don't know how they would be any different in terms of making money

 

[theinsuranceman]

I think these managers have the Same issues as SL managers have with lapses and charge backs. Don't know how they would be any different in terms of making money

All my agents write for SL full-time, which means they can't just re-write a lapse with another Co. They will try to reinstate if possible. We can still eat a lot of charge-backs if we don't manage the situation.

 

[nfl72]

are there really heavy hitters out there doing 10K a week in anual premium?

 

[tins]

are there really heavy hitters out there doing 10K a week in anual premium?

Yeah, like it ain't no thang!
Oh, wait...this is the FE section.
I'll revise my answer to 'no'.

 

[jdeasy]

are there really heavy hitters out there doing 10K a week in anual premium?

No. Not week in and week out. Most high producers will hit a week of $10,000 here and there but if someone claims they are writing $10,000 FE every week on their own they are just not telling the truth.

 

[gordon112]

No. Not week in and week out. Most high producers will hit a week of $10,000 here and there but if someone claims they are writing $10,000 FE every week on their own they are just not telling the truth.

It has to be rare, and most are using a telemarketer that is calling the leads and setting apts for five days. If you only have time for apts and not servicing, then I can see why this would be a valuable service and worth the shaven points from an IMO. How many agents are consistently sitting down with at least 25 new prospects a week? If you close half those you come up with around 6k a week in AP.