Group Prospecting

[ABC]

Last month's group prospecting is showing a disturbing trend to me.
On small groups under 20 lives there was a high level of groups canceling benefits. This has led to more individual sales for me but I would rather be selling group plans.

I got into the door on three prospects for group coverage. Of the 3 two have decided to go with individual plans because of cost.

There were a couple of other prospects that had dropped their group benefits so I have quoted individual plans for owners.

Is anyone else prospecting group and seeing this trend?

 

[djs]

yes
saw it coming though....

 

[coachd]

How are you getting in the door?

 

[Martin Johnson]

yep, cost savings in most cases on individual plans.

 

[moonlightandmargaritas]

How are you getting in the door?

Sideways. It's a revolutionary new approach.

 

[somarco]

I have groups dropping coverage altogether. Some replace with individual coverage, some don't even go that far.

I also have individuals dropping coverage. It's pay the rent & buy food or pay health insurance premiums.

Seems to me there are over 1,600,000 more folks out of work since the stimulus than before in spite of the 150,000 jobs saved or created by the stimulus.

I don't know about you, but I am ready for Obamanan to save or create some new clients for me.

 

[Broker007]

I have had wonderful saving my clients by introducing them to a hybrid protection modeled plan that I market. Where every sale I make in that scenario becomes too sales.

 

[somarco]

becomes too sales

Or, perhaps, two sales . . .

 

[ABC]

How are you getting in the door?

Direct mailing
I call and get a contact name
Then mail my brochure on my services
Call the contact person and get them to start talking about benefits.

Right now it very bad out there for group prospecting.

I have gone another 5 months without getting any new group papper on the books.

I use to write almost 2 small groups a month. (2007)

 

[stuy119]

Direct mailing
I call and get a contact name
Then mail my brochure on my services
Call the contact person and get them to start talking about benefits.

Right now it very bad out there for group prospecting.

I have gone another 5 months without getting any new group papper on the books.

I use to write almost 2 small groups a month. (2007)

Where are you based?

I'm seeing interesting things here in IL, but I'm only getting 1-2 new groups monthly. There's a lot of opportunity, but I'm handling some relocation issues currently and not focusing on business.