How does someone even sell insurance anymore

[Allen Trent]

Just being honest. From the 2 or 3 posts on this thread from you, it appears to be your attitude or outlook that may be holding you back as you criticized every stakeholder in your current situation from prospects, Underwriters, carriers & surplus lines. Then same for captive side where you had success. Do some honest soul searching & if you really want it, find some mentors that will be honest with you & challenge you. If not, find something else that makes you happy

 

[vic120]

Then change it. Get into something that works for you. There's no shame in admitting that you can't cut it in sales. Some people are born salesman and some learn it the hard way. Some people, like me, have no talent for it at all.

I freely admit, here and now, that I couldn't cut it either. I ended up in the company end of the P&C business and then in claims, which I loved and I was damned good at it. I made a good living and retired with significant financial security.

Your post certainly suggests that insurance sales (or any kind of sales) is not the road you should be taking. No stigma. Get into something else before you spend any more years being frustrated.

Except sometimes its about finding out how to get in front of the right people.

I have done medicare for 10 years this year has been the hardest to get the right leads I cant sell hardly any I don't know whats changed

Though I am OK due to reffurels and clients but without this year would have sunk me

 

[Markthebroker]

Right now someone who flips burgers at McDonalds makes more than I do selling commercial insurance. I live on ramen noodles and eggs and need to work a side hustle because I can't seem to sell anything. I have a closing ratio of less than 10%. I'm trying to justify continuing this career because I genuinely would enjoy this a lot more if I was making money at it.

Nearly every submission I make ends up NOT getting bound. The promising leads worth 5-10k of revenue always get pushed back or I get told "better luck next year". The majority of business owners I talk to always yell "AGENT DO QUOTE!!!" and don't care about actual risk management - only price - and aren't even worth that much revenue anyways. And the underwriters at the admitted carriers frequently decline it for some silly reason and then the E&S broker takes 3 weeks to get some dinky 2000 dollar quote back or the price is so high that there's no way in hell the insured would want it. It's become desperate enough to where I'd spend time just to make a 100 dollar commission. Referrals are few and far between and none of the commercial lenders or real estate professionals I've networked with want to send me anything.

So what are all these braggadocious producers that claim they make millions per year and leave the office by 2pm to drink beers and golf doing differently than I? Did they inherit a book of business? Did they suck up to the executives? Or maybe I smell bad? Am I stupid? Do I need to work for 20 years before I make 100k a year? Should I just demand a BOR before I even talk to these business owners ? Is that what everyone's doing these days instead of quoting? This career isn't working for me. I've done all the sales trainings but nothings working. Help.

I am a successful commercial broker that built my book from scratch.

I've made it work, and I'm always happy to share how. I think the first two issues for you are getting quality leads, and getting your head in a good place, because the clients are going to read off that.

Name the last four or five clients you wrote that are happy with you, what kind of business they are, and what you sold them. From that, I'll give you a very clear path on how to get your next sales.

 

[DonP]

Except sometimes its about finding out how to get in front of the right people.

I have done medicare for 10 years this year has been the hardest to get the right leads I cant sell hardly any I don't know whats changed

Though I am OK due to reffurels and clients but without this year would have sunk me

Vic I'll be honest I think mass saturation is occurring thus much harder to get leads .I just ran a 2000 food card, extra benefit dsnp mailer that should be drawing 2% . . Tommorrow is 3 weeks and so far I've gotten back 9 lousy leads . I should get 36-40 leads . That comes out to $90 a lead to make $150 a sale . I door know all leads hard as there getting hard to get .

 

[Allen Trent]

Vic I'll be honest I think mass saturation is occurring thus much harder to get leads .I just ran a 2000 food card, extra benefit dsnp mailer that should be drawing 2% . . Tommorrow is 3 weeks and so far I've gotten back 9 lousy leads . I should get 36-40 leads . That comes out to $90 a lead to make $150 a sale . I door know all leads hard as there getting hard to get .

I think you are correct that more saturation is happening in passive prospecting/marketing/advertising, but I think there has never been as little of active prospecting in the insurance business where reps pro actively make direct contact to consumers via phone or face to face, etc

 

[vic120]

Vic I'll be honest I think mass saturation is occurring thus much harder to get leads .I just ran a 2000 food card, extra benefit dsnp mailer that should be drawing 2% . . Tommorrow is 3 weeks and so far I've gotten back 9 lousy leads . I should get 36-40 leads . That comes out to $90 a lead to make $150 a sale . I door know all leads hard as there getting hard to get .

I can get leads plenty and my own Facebook leads very straightforward nothing shady an agent will call you to compare rates in ad even

The problem I got this year is no one picks up the phone anymore except my own clients and referrals,

I mean out of 100 leads I might speak to less than 10 and only one qualifies as a prospect and way too much time going form one answering machine to the next

 

[Yagents]

I think the product is the problem. P&C is tough, and people will jump for a dime, and I refuse to do underwriting. One and done business.

Many agents ignore obamacare, because it's complicated. Not a saturated market, and people ready to enroll, not be sold.

Same for med supps T65. Have 700 on books and never spent a dime on marketing for them. All came from ACA clients aging in, or referrals.

3 legged stool for leads. Buy them cheap. Networking like BNI, and networking with other agents who don't sell what u sell.

 

[TomsDiner982]

I think the product is the problem. P&C is tough, and people will jump for a dime, and I refuse to do underwriting. One and done business.

Many agents ignore obamacare, because it's complicated. Not a saturated market, and people ready to enroll, not be sold.

Same for med supps T65. Have 700 on books and never spent a dime on marketing for them. All came from ACA clients aging in, or referrals.

3 legged stool for leads. Buy them cheap. Networking like BNI, and networking with other agents who don't sell what u sell.

I don't agree with that at all. Most successful agents I talk to retain middle market (50-100+k in premium) commercial accounts around 8 to 10 years and often times the premium grows year over year and you get better renewal commissions than with life and health. All the research I've done points to P&C and reinsurance markets as having the most opportunity for investment and growth.

 

[BibH]

I don't agree with that at all. Most successful agents I talk to retain middle market (50-100+k in premium) commercial accounts around 8 to 10 years and often times the premium grows year over year and you get better renewal commissions than with life and health. All the research I've done points to P&C and reinsurance markets as having the most opportunity for investment and growth.

I also disagree p&C customers will jump on a dime . I've been with State Farm auto for 36 yrs . Every single person I know is very loyal to their company . Mapd and fe are the 2 most unloyal mkts .p@c has the best long term residual income .

 

[rousemark]

I also disagree p&C customers will jump on a time . I've been with State Farm auto for 36 yrs . Every single person I know is very loyal to their company . Mapd and fe are the 2 most unloyal mkts .p@c has the best long term residual income .

Not sure just how long for certain but I have been with State Farm for about as long.