Help! I need a gameplan / time management

Mar 9, 2008

  1. NCnatwidagent
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    NCnatwidagent Super Genius

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    Hi everyone,
    I'm a Life agent with about 8yrs expereince. I've recently moved to a P&C agency to sell Life insurance but now have my P&C license and have the opportunity to sell Homeowners, Auto and Commercial business.
    My problem.....Does any other agent here have a certain "to do" list of daily activities to cover Life and P&C selling? I have access to the agency's book of business, plus I can prospect for new business.
    I've been in this new role for about 2 months now and just seem to be floundering as to which way to go each day.

    So, if anyone can direct me as to what works for you ie. Monday-Friday gameplan / schedule....I would appreciate it.

    Thanks!
     
  2. sman
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    sman Guru

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    What was your daily schedule like before joining the P&C Agency? Why not follow that pattern?

    With access to the agency's book of business, I'd ask the agency owner to give you a proper introduction to the book and explain your specialties to them and go from there.
     
    sman, Mar 9, 2008
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  3. Alan Cottrill
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    Alan Cottrill New Member

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    For me my activities would be based on my compensation plan and my long term business objectives. If your comp plan rewards you best for selling life to the existing p&c book then I would work that book and take the occasional P&C that comes my way.

    If you become vested in your P&C renewals then I'd start working my old book and selling them P&C. The bottom line is you need to make calls every day.

    When selling P&C to established clients I have a call session from about 10:am to noon with the goal to leave a message asking them to call back and letting them know they can reach me until 7:00pm. The crazy thing is that they call back and take quotes.

    When selling life to existing P&C clients send out about 50 custom life quotes a week(10/day) using the coverage on their homeowners policy as a face value for the life quote. The letter explains that it is our new company policy that mortgage protection life insurance must be offered to all home owners customers. they then have to check a box either Yes, I want the protection or No, I don't want it. I include a business reply envelope for them to return the form. 10 a day will take you about an hour. For me, about 25% return the form, (a lot of them say YES). For the ones that don't return it, now I have to call them, make sure they got the letter and ask them if they want the coverage. Either way I let them know they have to return the form. Even if they don't want it I make them put it in writing "NO, I don't want to protect my family" a lot of people will say no on the phone, but can't put it in writing and decide to check YES and mail it back in. This is great afternoon work.

    I find my most productive time of the day is from 6:30 to 7:45. Dial like crazy and set appointments. Even for P&C quotes. set an appointment to call them back during the day. don't do the quotes then, it'll take too much time. You will get the most answers of your day during this window, don't use 20 minutes of it on one call. find out when is their best time to talk to you for about 20 minutes and tell them to have their prior policy declaration out so they'll have everything you need to do the quote at that time.
     
  4. tom_ryan
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    tom_ryan Expert

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    Alan:

    Nice informative post!

    Many people are disinterested in cold calling! Do you find it effective? What percentage of your 'new' busienss would you say comes from dialing?

    Regards,
     
  5. NCnatwidagent
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    NCnatwidagent Super Genius

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    Thanks for the responses! Alan, yours was especially helpful. Like I said earlier, I've got about 8+ years in the Life, Health etc field, but by adding the P&C to what I can sell, I just wanted to make the most of this opportunity.
    But, since I'm more experienced in Life insurance (plus the commissions are better) I'm sticking to prospecting for life sales and adding any P&C as it may come.
    Thanks for the help. I've gotten a lot of good tips from reading these forums.
     
  6. norcalinsurance
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    norcalinsurance Expert

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    Time Management? Well, I would think to begin a gameplan, sit down with a pen & pad & start writing out what are the essential parts of your business (customer retention, marketing, etc...) that must be competed, then set aside a correct amount of time for that.

    Then think about what is the thing you hate doing the most. Is it cold calling, as most of don't care for, or hiring staff, etc..., then schedule that first thing in the morning, so you can get it out of the way and it won't be hanging over your head all day.

    Just a few quick suggestions. Good luck.
     
  7. GIRLINBIZ
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    GIRLINBIZ Expert

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    Read one-minute manager
     
  8. NCnatwidagent
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    NCnatwidagent Super Genius

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    Ok, its been approx 2 months since I first posted this thread. Time for an update and maybe some more suggestions?
    A little background first...... I'm basically a life agent with going on 9yrs experience. At the first of the year, I joined a P&C agency that needed help with life sales. Very few policies have been sold.
    By coming aboard wanted to be P&C licensed also. Ok, now I am.
    So, my primary agent has 3 offices in 3 different small towns, the one that I'm in being the largest with most customers. Out of 12 employees under my primary in the 3 offices, 2 CSR's in my office have a life license. So, that makes 3 life licensed agents in this agency.
    I have been told that since I'm the most experienced with selling, that I need to be selling the most life insurance. Ok with me. Also, I am to motivate and train the CSR's to be asking every customer about life insurance. They won't do it. They are scared and don't want to be looked at as a life insurance salesperson!
    My boss's annual bonus hinges on life production. He makes the money off of P&C business but will not get bonus unless he makes his life goals.
    Its a large goal for the year and I need help with the others in my office but he has left everything up to me.
    Ok, I know there is an opportunity here for me and don't want to screw it up. I'm not getting any help with leads from the office staff, so its going to be up to me.
    For the past 2 months, I've sent out letters to existing customers that have mortgages and NO life insurance. Mailing them a custom quote for term insurance using their existing coverage as a face amount. I've gotten about 25% back with only one saying yes I'd like a policy. When I follow up on the letters that have not been sent back, I get the usual.....I already have it, not interested etc....
    So, does anyone else have some good ideas as how to go about getting our existing customers on board.
    I don't really have a problem prospecting for new sales outside of the agency, but there are tons of names already on the books to contact. I just need a new idea to try.
    Thanks for reading,
    John
     
  9. HomeService
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    I think you need to go to work for a company that really concentrates on life insurance only, and forget the P&C stuff. Seems like it's distracting you, all this P&C stuff. Go to one of the big boys who only writes life, like NYL or NW Mutual or New England or something. I know it's nice to have all those P&C clients to call upon, but sounds like it is making you "scattered" instead of focused. {Just how it sounds to me, from your posts.} Besides, sometimes the P&C guys talk a good game about life insurance, and the home office is putting goals for life insurance upon these agents, but in the end they really are P&C guys, and life insurance is a second job, or a hobby. My suggestion is to make life insurance your one and only priority. If that is your goal. { or start your own life agency}
     
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