Help with Prospecting Technique

[JimmehBone]

My company has a product where businesses can get a whole life policy for their employees. This is a voluntary program, employees dont have to sign up for it. It has virtually no cost to the employer, anyone who signs up for it pays there premium. Im very new to the industry but this sounds like something that I would like to focus on. Any tips for prospecting and getting sales would be apreciated. Best approach, what to say, best business to go to etc. Hope everyones doing well. thanks

 

[HarryDaBroker]

ive only been in this business for 2 years, so take my advice for what it is. diversify your offerings. Voluntary benefits, also known as worksite marketing was a territory that not too many brokers chose to travel due to the large renewal commissions on the health side. however with healthcare reform, that is changing the whole landscape and business that the health brokers used to ignore are now becoming part of their income strategy...

that being said, what i found to be the case was that 80% of the time it all boiled to one thing, relationship. I started out cold calling and while i did close a few deals i couldn't see how i could sustain doing that so i just used that money to join different organizations. as i made money through setting up deals through networking events, i then used that money to start going around to conventions and set-up tables. the most recent thing i did was join NAHU. so far I hooked up with 7 brokers and just closed my 12th deal for the month and we only do mid-size groups, 50+.

also just an fyi, i bought a decent book of business which consisted only of worksite marketing with a GI life product exclusively. since then, i have diversified to offering disability, accident, cancer, critical illness, hospital, vision, dental and more. my point is that the more you have in your toolbox, the better chance you have of closing the deal. life typically always pays more in commission, but DIS typically always sells more that life...

In summation:
Relationships get me in the door, having the right products to solve problems get me the contract, but customer service pays my bills and keeps my retention and persistence high.

just my 2 cents...

 

[ABC]

Harry, I would say you are giving sound advice.

 

[317newduck]

Hello would you also say this is successful for an independent agent. I sell 14 different products but my center of influence is low because I have recently relocated. I have had appointments and even in the process of closing my first set of business this week but it seems everyone else on my team is running circles around me. Note I have 3 months experience and written $7200 in business not adding the accounts this week. It just seems the big accounts I cannot land.

 

[HarryDaBroker]

Hello would you also say this is successful for an independent agent. I sell 14 different products but my center of influence is low because I have recently relocated. I have had appointments and even in the process of closing my first set of business this week but it seems everyone else on my team is running circles around me. Note I have 3 months experience and written $7200 in business not adding the accounts this week. It just seems the big accounts I cannot land.

Success is something only you can determine. its all relative to the goals that you set for yourself.

For instance, if you set your goals at $10k in profit for the month, heck no, you weren't successful, but if your goal was $5k in premium, you are over the top...

if your new, you're not gonna land big accounts until you have the confidence to do so. Its better to just work on getting the bases loaded, then trying to hit a home run out the gate. but then again my disclaimer, im just a noob, so take my advice for what it is.