Focus on One Carrier?

[Reggie Hammond]

Just listened to the FEX interview with Tim Winders. He uses Transamerica for 95% of his biz and MoO. Any of you guys follow this model of focusing on one carrier?

Is this recommended for a newby like me who still doesn't know his ass from third base yet?

 

[STIBROKER]

Just listened to the FEX interview with Tim Winders. He uses Transamerica for 95% of his biz and MoO. Any of you guys follow this model of focusing on one carrier?

Is this recommended for a newby like me who still doesn't know his ass from third base yet?

no......with current market changes and rates Trans has moved out of top of the list as cheapest rates.....then there is medical conditions....this is were banner comes in handy.....just ran rates on a young blood looking for 3 to 4 mill....low and behold met life came in cheapest at 10 and 20 year..principle and prudental for 30.....so what was my suggestion.....apply with metlife...or for 30 principle......so you really need to lic. with all to do a good job by your client........

 

[PaperHanger]

If your comp is substantially greater than your other carriers, then yes, push that one ;-)

 

[liorselamb]

Just listened to the FEX interview with Tim Winders. He uses Transamerica for 95% of his biz and MoO. Any of you guys follow this model of focusing on one carrier? Is this recommended for a newby like me who still doesn't know his ass from third base yet?

Absolutely! I use MoO, Trans and Aetna primarily. I have about 8 total carriers available, but 95% is placed with the 3 I mentioned.

 

[jdeasy]

Just listened to the FEX interview with Tim Winders. He uses Transamerica for 95% of his biz and MoO. Any of you guys follow this model of focusing on one carrier?

Is this recommended for a newby like me who still doesn't know his ass from third base yet?

I don't use trans as my go to but I have one primary carrier that I intend to place everyone with. Most of the top producers that I know follow that method.

Since there is not one carrier out there that's good for everyone we do need to have some plan B's. I do about 70% of my business with 3 companies. Maybe 20% with a 4th and the other 10% with the other 6 or 7 companies that I have.

I know Tim has many companies but he intends to place everyone with his 2 top companies.

I would guess from talking to Travis that he places 70-80% of his business with 2 companies.

For a new person, absolutely focus on one company. Then add companies as you learn and grow in the business.

 

[liorselamb]

I don't use trans as my go to but I have one primary carrier that I intend to place everyone with. Most of the top producers that I know follow that method. Since there is not one carrier out there that's good for everyone we do need to have some plan B's. I do about 70% of my business with 3 companies. Maybe 20% with a 4th and the other 10% with the other 6 or 7 companies that I have. I know Tim has many companies but he intends to place everyone with his 2 top companies. I would guess from talking to Travis that he places 70-80% of his business with 2 companies. For a new person, absolutely focus on one company. Then add companies as you learn and grow in the business.

Great advice..............

 

[Agentguy5]

Yes, I would definitely suggest having your upline help you pick a Go-To carrier in the beginning and then add carriers as you start to "get it".

 

[Rearden]

I've changed my contracting strategy for new Mentorship agents recently.

A critical component to success in this business is to be able to write the prospect up on the first call.

And as we know, much of the business opportunity out there is replacing garbage, as well as identifying underwriting situations effectively.

To do so effectively, contracting with 2-3 carriers will leave 20% to 30% of your opportunity to sell on the table.

So, what I recommend to all my agents is to first learn the 2 or 3 carriers up and down, but also to ALREADY be contracted with as many other carriers so they are ready to be used on the first call.

Doing so helps agents sell more business, and with this market as competitive as it ever has been, it's important that you get your duck's in a row as quickly as possible, and be ready for any opportunity immediately when it reveals itself.

 

[Newby]

Just listened to the FEX interview with Tim Winders. He uses Transamerica for 95% of his biz and MoO. Any of you guys follow this model of focusing on one carrier? Is this recommended for a newby like me who still doesn't know his ass from third base yet?

Yes, absolutely select you main carrier and learn when and why to go to others and who you are going to for each reason. I call them triggers. You hit a trigger (off the height- weight chart for instance) you recognize that as a trigger and it shoots you straight to your no weight chart companies (RNA, Trans, Aetna,etc. )

As was said, have your up line help you select your main and figure out your secondaries with you. It should all make sense.

 

[Reggie Hammond]

Thanks for the help everybody.