For those of you using NORVAX...

Nov 4, 2006

  1. somarco
    Offline

    somarco That Medicare Expert Guy

    Posts:
    28,794
    Likes Received:
    2,269
    State:
    Georgia
    Who uses Norvax? How long have you used it? What kind of return are you getting on your monthly investment?
     
    somarco, Nov 4, 2006
    #1
  2. moonlightandmargaritas
    Offline

    moonlightandmargaritas Guru

    Posts:
    9,749
    Likes Received:
    31
    State:
    Florida
    Bob, I used Norvax for about a year (7/'04-7-'05). Did one of their cutomizable websites as a lead generation tool.

    Excellent, speedy, thorough customer service. Cheap too, think I spent about $40/month, with a one time setup of a-buck-and-a-quarter-or so.

    Pro: Very high closing ratio on leads developed - about 400% higher than purchased internet leads.

    Con: Escalating cost with Google AdWords to drive traffic to the site. Blues, Humana, etc. were bidding the price up big time. Another problem (bigger, actually), didn't get the type of client I seek. I like to cross-sell life and DI to business owners after going in on the health business.

    Bottom Line: Profitable, but decided not to continue, mainly because it wasn't attracting my "target" client.

    Hope that helps.
     
  3. somarco
    Offline

    somarco That Medicare Expert Guy

    Posts:
    28,794
    Likes Received:
    2,269
    State:
    Georgia
    Thx for the feedback Paul.
     
    somarco, Nov 4, 2006
    #3
  4. Crabcake Johnny
    Offline

    Crabcake Johnny Guru

    Posts:
    14,811
    Likes Received:
    15
    State:
    South Carolina
    The Goodle Adwords in my state got to the point where I pulled the plug. The average click was around $3.60 which is insane. That has nothing to do with the client actually submitting for a quote, that they're insurable or actually ready to buy. When the dust settled I was still making a profit, but at the time I found it easier to purchase shared leads. I was still closing 1 out of 10 at $8 a pop but factoring in leads for credit my cost averaged out to $6.50 per lead.

    Winter's hitting and I'm picking some shared leads back up. Still going B to B but not when it gets nasty cold.
     
  5. Alsky
    Offline

    Alsky Guru

    Posts:
    298
    Likes Received:
    1
    I received an email about the Norvax quoting software and website... has anyone used this software? Any idea of cost? Would you recommend? Thanks for any info you can provide. Alsky
     
    Alsky, Mar 17, 2007
    #5
  6. CHUMPS FROM OXFORD
    Offline

    CHUMPS FROM OXFORD Guru

    Posts:
    10,261
    Likes Received:
    49
    State:
    Ohio
    I have spoken to them a few times. I haven't pulled the trigger yet. But I know NEVER to buy their leads. I have seen (first hand) how they often buy recycled leads and pass them on as primary leads.
     
  7. taterpeeler
    Offline

    taterpeeler Guru

    Posts:
    6,999
    Likes Received:
    15
    State:
    Texas
    i use it, and i have the lead thingy that uploads my internet leads into the system. i pay a c note a month for the entire lot... i like it... it makes life easy. if u got the cash i say do it
     
  8. somarco
    Offline

    somarco That Medicare Expert Guy

    Posts:
    28,794
    Likes Received:
    2,269
    State:
    Georgia
    I have used Norvax for 4 months now. There are things I like about it, some I dont.

    In that 4 month period I have written 1 - 2 extra policies that I probably would not have otherwise, so it pays for itself.

    I have the stripped down version. Just the quote engine, not the website and certainly not the leads.

    They are pricey in my opinion. Especially so if you take their first offer. If you deal with them like buying a car you can get a better price. Shameless tactics if you ask me.

    The quote engine will only show a handful of plans & options. I have 6 carriers (soon to be 7) loaded in my quote engine and they will show (max) about 200 options. When I quote with carrier software I can show about 1800 variations and achieve much more customization.

    The abbreviated quote is nice and the one I use the most. The full proposal quote is a bit clunky. You really can't view more than 2 plans side by side which is a bit of a hindrance.

    I actually prefer the Quotit engine but they only have a limited number of carriers & plans and seem to concentrate more on group quoting.

    Emailing quotes can get caught up in spam filters. More than once I have emailed a client only to have them tell me they never got the quote. When I ask them to check their spam folder more often than not it turns up there.

    Norvax does not notify you of a quote that is undeliverable or unopened. The only way you will know if someone is tooling around in your site is if they start a quote.

    Your set up will run anywhere from $250 to $350 + $75 per month for the quote engine. They will quote you a higher price. I probably could have gotten it lower but I got tired or haggling and I wanted to get it up & running.

    Recently I went back & ask for a separate URL to quote HSA plans only. My rep said the best deal was $300 setup + another $75 per month.

    I was very polite when I told him I would pass on his generous offer.

    The back office has a lot of bells & whistles that make it reasonably easy to follow up with prospects.

    My guess is I will write $50,000 or so in AP this year that I would not have otherwise and that is probably a low estimate. So I am spending $75 x 12 = $900 to make an extra $10k or so.
     
    somarco, Mar 18, 2007
    #8
  9. Alsky
    Offline

    Alsky Guru

    Posts:
    298
    Likes Received:
    1
    Norvax contd'

    Somarco, if you opted not to get the website feature, did you embed the software into your own existing website?

    Also, how easy/difficult is the setup of the software and installing the individual ins companies illustration software?

    Thanks a million for your input... this will help a lot.

    Alsky
     
    Alsky, Mar 18, 2007
    #9
  10. somarco
    Offline

    somarco That Medicare Expert Guy

    Posts:
    28,794
    Likes Received:
    2,269
    State:
    Georgia
    I got a domain from GoDaddy and use this as a hotlink in correspondence and on my site.

    http://quickhealthplans.com

    Norvax sets up the quote engine with the carriers for you. Probably takes them 5 minutes to do it. For that they want to charge $350.
     
    somarco, Mar 18, 2007
    #10
Loading...