How Do You Find & Acquire a Better Class of Customers?

[Heather]

Re: How Do Yu Find & Aquire a Better Class of Customers?

I am thinking about keeping the office closed Monday - Thursday until like 12 noon so I can go out and prospect every morning myself. I also just fired my telemarketer, they were useless and my part time assistant has just been put on a commission only basis. They have sold 3 policies all month and if I left them here alone they would be playing video games on their phone and not prospecting. I think walking in places may work because its some thing I have not done consistently at all and not in a long time.

 

[insurance1822]

Re: How Do Yu Find & Aquire a Better Class of Customers?

I am thinking about keeping the office closed Monday - Thursday until like 12 noon so I can go out and prospect every morning myself. I also just fired my telemarketer, they were useless and my part time assistant has just been put on a commission only basis. They have sold 3 policies all month and if I left them here alone they would be playing video games on their phone and not prospecting. I think walking in places may work because its some thing I have not done consistently at all and not in a long time.

1.) Bank calls in to update mortgagee clause & get new docs --- go there and hand deliver.

2.) car dealer needs ID card - go there and hand deliver

3.) somebody calls to insure a new home - ask who their realtor & lender is & go meet them

4.) somebody calls because they sold their home - ask who listed it & who represented the buyer & meet them.

5.) when working on a new insured & discussing their liability limits---segway into their assets----curiusly ask who their financial advisor is --- go introduce yourself.


the opportunities for warm introductions are endless

 

[robtmccarthy]

Re: How Do Yu Find & Aquire a Better Class of Customers?

I am thinking about keeping the office closed Monday - Thursday until like 12 noon so I can go out and prospect every morning myself. I also just fired my telemarketer, they were useless and my part time assistant has just been put on a commission only basis. They have sold 3 policies all month and if I left them here alone they would be playing video games on their phone and not prospecting. I think walking in places may work because its some thing I have not done consistently at all and not in a long time.

Where are you located? you mentioned people coming up from NYC and you have NYCM?

NYCM has been very competitive. I've lost some good A clients to them recently. (I'm in NY Putnam County)

 

[Heather]

Re: How Do Yu Find & Aquire a Better Class of Customers?

I am in Broome County. NYCM is very competitive but strict on underwriting . They literally call the client after the purchase and do a telephone interview to confirm things like how many people in the home. You can't have anyone in the home with a suspended license and they add everyone to the policy that does not have a car and their own insurance. You must have had a license for 3 years and no accidents in 39 months and not more than 1 comp claim in a year I think it is. So few of my customers qualify for this, its like winning the lotto when I find one who does. I get lots of scammer who live in the city but try using a relatives address in my county and people who just moved here and never drove before. One girl had 3 at faults since March.

 

[ZappMan]

All my customers are on eft monthly or PIF (for discount). I don't use a sweep account at all. I don't take cash or checks, ever. Just Routing/Account #'s & CC#'s. I don't have any walk in business, by design, & I heavily target homeowners (most of them have cars). My retention is around 98% I don't monitor late payors or have any kind of program for that. I have been doing it this way for as long as I can recall. I have some non std folks, but they pay in full & I'll re-write them to a pref co. asap.

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.... NYCM is very competitive but strict on underwriting . .....

They charge on the PIP for all household members...Kids! Did they update that horrible quoting platform yet?

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Heh, Why does it appear that everyone from Alabama is in NY?

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1.) Bank calls in to update mortgagee clause & get new docs --- go there and hand deliver.
the opportunities for warm introductions are endless

I think these are on the right track of being good ideas. What I do & would do is e-mail the party or InMail them (LinkedIN) instead of going to see them. I don't think going to see them translates the way you want it to. Plus, Time is Money. I recently spoke to a person that said they were going to sell their house, so I sent the info to a Realtor (one I don't know). He was impressed that I did that. I just planted a seed but who knows.

& of course the best way to get the folks you want is the law of large #'s. That's all it ever will be. Talk to a lot of people, be good to the folks that are good to you & move forward.