Google to Sell Insurance

[djs]

Now welcoming back to the stage after a long time sabbatical.... Drumroll please ????
Internet Explorer

So now, Microsoft is tracking you, along with Google, Amazon, Facebook, Twitter, Yahoo and any other of a dozen sites.

Face it, if you are on the information superhighway, the highway is chock full of cameras watching everything you do, recording it all, and trying to figure out how to best collect tolls from you as you travel the highway.

Ironically, the best way to collect tolls is to offer 'free stuff'

 

[VolAgent]

Pretty damn scary. All this data they have collected over the years will be used to steal clients from agents. If you do not think the biggest threat to the agency channel is ahead of us, you are in major denial. I urge you to start using regional carriers that truly support agents, talk to your reps and tell them you are not pleased with the decisions the carriers have made to work with Walmart, Google, etc.

I have never seen an ad on tv or online from a carrier used by independent agents, excluding Progressive. The P&C carriers that are spending massive ad revenue are in one of two camps. Direct to consumer, or captive agency.

If you want to screw with the carriers that want to advertise online, click their ad each time you see it. Google will thank you and if enough people do it, it will kill their ad budget.

 

[djs]

I have never seen an ad on tv or online from a carrier used by independent agents, excluding Progressive. The P&C carriers that are spending massive ad revenue are in one of two camps. Direct to consumer, or captive agency.

If you want to screw with the carriers that want to advertise online, click their ad each time you see it. Google will thank you and if enough people do it, it will kill their ad budget.

You need to watch more TV, but I will give you that the number of agent friendly independent ads on TV by the carrier is pretty small in comparison. On the flip side, Progressive only advertises Progressive Direct, not the agent side, unless I missed something.

On the ad budget, you and 10000 of your closest friends won't make an impact. I'm willing to bet the 'big guys' have a deal that they buy way different then you or I would.

Dan

 

[VolAgent]

You need to watch more TV, but I will give you that the number of agent friendly independent ads on TV by the carrier is pretty small in comparison. On the flip side, Progressive only advertises Progressive Direct, not the agent side, unless I missed something.

On the ad budget, you and 10000 of your closest friends won't make an impact. I'm willing to bet the 'big guys' have a deal that they buy way different then you or I would.

Dan

The next customer or client you speak with, ask them what ad they say on tv, a Progressive Direct or a Progressive Agency ad.

And I am under no illusion it will destroy them. But I doubt they are getting too much of a break, too many others want those keywords too. They are just willing to pay more per ad and for more ads than basically anyone else.

 

[scooter33]

Well my fellow agents, I have done tons of research the last month or so, spoke with industry experts as well as carrier executives and marketing reps. The conclusion....there will be approx 1/2 as many agencies as there are now in the next 3-5 years. Beyond that, for personal lines auto agents, the vast majority of new business will be bought online. For the ones that are still around, carriers will continue to lower commissions and squeeze us dry. The family owned small offices with 2-4 people and under 5 million in premium will not survive and will be bought by larger agencies.

Man, did I pick a wrong era to start an agency!

 

[johnnyhodges]

It just dumbfounds me how many agents don't see this and I really don't get all the slings and arrows I took for pointing this out. Get a grip folks. To survive the model has to change at least for now. Chances are great that some carriers will try this and fail. Farmers for one, has had an "auto-bind" system in place for a while and according to a agent I know it's not working well at all, and they shut down 21st Century in our area. Most carriers will look at the partnering with Google or Walmart route and the smart ones will get some type of exclusivity deal in areas or by search data. In the very short term were safe, but out none the less.

My plan is to build as big a P&C book as I can and dump it to some larger independent in my area, if possible by years end.

 

[agentinsouth]

Well my fellow agents, I have done tons of research the last month or so, spoke with industry experts as well as carrier executives and marketing reps. The conclusion....there will be approx 1/2 as many agencies as there are now in the next 3-5 years. Beyond that, for personal lines auto agents, the vast majority of new business will be bought online. For the ones that are still around, carriers will continue to lower commissions and squeeze us dry. The family owned small offices with 2-4 people and under 5 million in premium will not survive and will be bought by larger agencies. Man, did I pick a wrong era to start an agency!

I only agree if you are talking about narrow minded agents who only lead w/ the auto to a mostly blue collar customers.

Also, let's say I only get the home and not the auto? Oh darn... I would much rather have the flood at 21% commission, a life, and/ or another policy that has no backend service cost.

So, how to beat this crazy fear I am hearing.
I am 1. Leading w/ home and cross sell the auto. 2. make an appointment for after they move in to cross-sell mortgage protection. 3.Follow up at renewal to cross-sell other products via a financial review.
4. Target white collar professionals.

I am personally excited that there are going to be less agents, more for me!

 

[scooter33]

I only agree if you are talking about narrow minded agents who only lead w/ the auto to a mostly blue collar customers. Also, let's say I only get the home and not the auto? Oh darn... I would much rather have the flood at 21% commission, a life, and/ or another policy that has no backend service cost. So, how to beat this crazy fear I am hearing. I am 1. Leading w/ home and cross sell the auto. 2. make an appointment for after they move in to cross-sell mortgage protection. 3.Follow up at renewal to cross-sell other products via a financial review. 4. Target white collar professionals. I am personally excited that there are going to be less agents, more for me!

You should see the interview on YouTube with the CEO of coverhound, the company Google appears to have bought or partnering with. They offer all lines, talks about personal service and providing excellent customer experience.

You sir are in denial, need to open your eyes and get informed or think your **** doesn't stink... I hate to break it to you, Everyone's **** stinks!

 

[somarco]

Personal lines is perfect for online sales. How many people have actually seen their HO or auto agent?

 

[agentinsouth]

You should see the interview on YouTube with the CEO of coverhound, the company Google appears to have bought or partnering with. They offer all lines, talks about personal service and providing excellent customer experience. You sir are in denial, need to open your eyes and get informed or think your **** doesn't stink... I hate to break it to you, Everyone's **** stinks!

Coffee is for closers!

I could not find the YouTube, please post the link.

I am pretty sure the $1.5MM house, the $1.2MM house and the $689k house I sold this week are not going to google . Oh, I also cross-sold each an umbrella and auto package.

The only people who should be scared are those who can't prospect and close.

Oh, I also had lunch w/ an advisor who makes well over $1,000,000 in commissions and we talked about all the online competition he has. He just laughed!