How Many Companies Are You Using?

[Newby]

I forgot to mention that I have Oxford. Never use them is why I forgot. I don't have Settlers so I don't know their rates.

You don't use Oxford because you don't like the B+ AM Best rating.

I used to write some with them. Pretty good company. I didn't like when they lowered everyone's commissions by padding the 1st year 15% and reducing the renewals around 45%. I hate when companies do that.

 

[rousemark]

Whenever the person brings it up. I have never been the one to broach the subject. Most of the time it begins with, "do you have anything for my grandkids?". The rest are usually on replacements. When they bring their policy in for me to look at there will be 2 or 3 grandkid policies in the pile. I do ask then if they want me to take a look at those.

I have gone to personally delivering my policies now and the grandkids or other family member policies seem to come up quite often at policy delivery. I wrote two one day this week at policy delivery. One was for $102/mo and the other was for $20/mo. Same house. One on the wife and the other was the grandson.

JD. I consider you a pro in the FE business and am interested to note you are now delivering policies personally. When I was recruiting and in management, I always emphasized personal policy delivery. Sure it takes more time but I found that it was a profitable use of time. Personal policy delivery helps cement the sale and improve persistency.

Often when prospecting, if someone has just bought coverage I ask if the agent delivered their policy. If they say they received it in the mail, I tell them, "Well, that shows you how interested he is in you. He took your money and now you will probably never see him again unless he thinks he can sell you something else." Personal policy delivery builds rapport with the client and makes it much harder for the next agent to get in the house. That in and of itself makes it profitable.

But, in addition to that, often other needs are uncovered during the delivery which results in additional business being placed with the client.

Plus, I prefer to ask for referrals during the delivery rather than at the time of the sale. It is a much more relaxed situation and the client seems far more receptive to giving referrals since you have been in their home previously. They have the feeling they know you don't feel they are introducing their friends and family to a stranger.

 

[gordon112]

JD. I consider you a pro in the FE business and am interested to note you are now delivering policies personally. When I was recruiting and in management, I always emphasized personal policy delivery. Sure it takes more time but I found that it was a profitable use of time. Personal policy delivery helps cement the sale and improve persistency.

Often when prospecting, if someone has just bought coverage I ask if the agent delivered their policy. If they say they received it in the mail, I tell them, "Well, that shows you how interested he is in you. He took your money and now you will probably never see him again unless he thinks he can sell you something else." Personal policy delivery builds rapport with the client and makes it much harder for the next agent to get in the house. That in and of itself makes it profitable.

But, in addition to that, often other needs are uncovered during the delivery which results in additional business being placed with the client.

Plus, I prefer to ask for referrals during the delivery rather than at the time of the sale. It is a much more relaxed situation and the client seems far more receptive to giving referrals since you have been in their home previously. They have the feeling they know you don't feel they are introducing their friends and family to a stranger.

I agree to this 100%, and I usually only agree 99.9%.. This was well said and if I was going to hire anybody going forward I would only hire agents that hand deliver there policies. If I find they don't, I would then most likely find out why there % has gone down.

 

[jdeasy]

JD. I consider you a pro in the FE business and am interested to note you are now delivering policies personally. When I was recruiting and in management, I always emphasized personal policy delivery. Sure it takes more time but I found that it was a profitable use of time. Personal policy delivery helps cement the sale and improve persistency.

Often when prospecting, if someone has just bought coverage I ask if the agent delivered their policy. If they say they received it in the mail, I tell them, "Well, that shows you how interested he is in you. He took your money and now you will probably never see him again unless he thinks he can sell you something else." Personal policy delivery builds rapport with the client and makes it much harder for the next agent to get in the house. That in and of itself makes it profitable.

But, in addition to that, often other needs are uncovered during the delivery which results in additional business being placed with the client.

Plus, I prefer to ask for referrals during the delivery rather than at the time of the sale. It is a much more relaxed situation and the client seems far more receptive to giving referrals since you have been in their home previously. They have the feeling they know you don't feel they are introducing their friends and family to a stranger.

I used to deliver them all and got away from it. It is easy to let the companies mail them. Newby and I were talking about Monumental this summer and I was complaining about how amendment happy they are and he said it didn't bother him becaujse he delivered his policies and just got the amendment done then. Also we were talking about how people liked it for us to deliver and getting business at delivery. That made me go back to delivery.

I can't even count how much extra business I've gotten since going back to delivering the policies. It's certainly been worth the extra work. I generally work the same county for 2or 3 weeks at a time so it's not really much extra time to deliver policies between appointments or when I have a no show. The extra work comes in when I change counties. I had to deliver some this week that were 50 miles away from where I was working leads but when I delivered that one that wanted to write two more family members it was worth it.

 

[hardworker]

JD, do you work with agents under you or are you strictly a producer? What state are you in?

 

[jdeasy]

JD, do you work with agents under you or are you strictly a producer? What state are you in?

I am strictly a producer. I aprtner with EFES for leads and support. I do not have any agents under me nor do I want any.

 

[Jake07712]

I have the policies go directly to the client, but at the time of sale, I tell them to give me a call when they recieve it, and I'll come back to go over it with them. I get very few calls.
My go to companies are 5 star because their prices are good, they have the easiest ap, and no psi; UHL for monthly billing; and Mon. when there are health issues. (I'll bet that Mon would do more business if they put out premium charts the way the other carriers do.) I also carry RN and Americo in my bag.

 

[hardworker]

JD, if I was to go with EFES who would be the best person to contact? I've tried to touch base with Travis but he's never gotten back with me although he did once but he was on vacation.

 

[rousemark]

I have the policies go directly to the client, but at the time of sale, I tell them to give me a call when they recieve it, and I'll come back to go over it with them. I get very few calls.
My go to companies are 5 star because their prices are good, they have the easiest ap, and no psi; UHL for monthly billing; and Mon. when there are health issues. (I'll bet that Mon would do more business if they put out premium charts the way the other carriers do.) I also carry RN and Americo in my bag.

They won't take the initiative to call. You are missing out on possible additional business and referrals.. Not to mention the fact that if an enterprising agent comes across a nest of your clients, it is going to be much easier for him that it should have been. JMHO

 

[jacobtn]

I have the policies go directly to the client, but at the time of sale, I tell them to give me a call when they recieve it, and I'll come back to go over it with them. I get very few calls.
My go to companies are 5 star because their prices are good, they have the easiest ap, and no psi; UHL for monthly billing; and Mon. when there are health issues. (I'll bet that Mon would do more business if they put out premium charts the way the other carriers do.) I also carry RN and Americo in my bag.

Monumental does have a premium chart. Its buried in their complicated website.