I Insure Me Company. Iinsureme.com

[iinsureme]

Hi everyone - Paul Langley here - CEO of I-insureme. Although I could ramble on for hours, I would simply encourage you to speak with a few of the agents that have come on board. Find out why they love what we're doing.

By the way, the MLM model is, in my opinion, a broken model. If the only way a person can make money is by recruiting, then there's a problem. Not that recruiting is bad - the insurance industry has proven that. But, if an agent can't simply refer business and create a full-time income, then there's a problem.

We have mortgage brokers and realtors that are now able to monetize this part of their business. We have life and health agents that are now making money with P&C. We have current, active P&C agents and those who have a license but, up until this point have not been active, that are seeing great success with our model.

Feel free to message me with any questions. I'm not here to bash anyone and hope that is not your intent. Regardless of your decision, I wish each of you the best of success!

 

[allfortheclient]

Hi everyone - Paul Langley here - CEO of I-insureme. Although I could ramble on for hours, I would simply encourage you to speak with a few of the agents that have come on board. Find out why they love what we're doing.

By the way, the MLM model is, in my opinion, a broken model. If the only way a person can make money is by recruiting, then there's a problem. Not that recruiting is bad - the insurance industry has proven that. But, if an agent can't simply refer business and create a full-time income, then there's a problem.

We have mortgage brokers and realtors that are now able to monetize this part of their business. We have life and health agents that are now making money with P&C. We have current, active P&C agents and those who have a license but, up until this point have not been active, that are seeing great success with our model.

Feel free to message me with any questions. I'm not here to bash anyone and hope that is not your intent. Regardless of your decision, I wish each of you the best of success!

I am interested email me at [email protected]

 

[orharris]

I have an interest but it appears that your company does not insure in Alabama??

 

[djs]

I reviewed their website and I'll save a lot of hassle.

The overall setup is that you simply refer people to the brokerage. They pay you halve commission for doing this. Does not look like you get renewals at all.

Breaking it down (my concerns)

1. There is a setup fee for me to refer business to them. I have no idea what the fee is.

2. You don't own the client relationship, they do. They are the broker of record. You leave, they have the business.

3. The referral fee is paid out monthly, on an as-earned basis. Prevents chargebacks, so not all bad, as long as you realize it will take a while to get to a decent paycheck.

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So what they have set up is a way for you to do the marketing for them and get paid for it. The marketing and finding clients is the hardest part of running an insurance agency and you are giving up half the income and renewals to make this happen.

If you are a life agent and want to pick up some referral dollars by referring the P&C side to someone, it might be an easy way to do it. Not clear that they won't market life to them though, trying to replace your policy.

Bottom line is I wish I had thought of this as a way to grow my agency. Pay 50% of the first year commission, no renewals... oh wait, I did use this, with a higher commission rate.

Keep in mind, you are getting 50% of 10%, not 50% of the premium.


Dan

 

[cruhm1971]

I reviewed their website and I'll save a lot of hassle.

The overall setup is that you simply refer people to the brokerage. They pay you halve commission for doing this. Does not look like you get renewals at all.

Breaking it down (my concerns)

1. There is a setup fee for me to refer business to them. I have no idea what the fee is.

2. You don't own the client relationship, they do. They are the broker of record. You leave, they have the business.

3. The referral fee is paid out monthly, on an as-earned basis. Prevents chargebacks, so not all bad, as long as you realize it will take a while to get to a decent paycheck.

----

So what they have set up is a way for you to do the marketing for them and get paid for it. The marketing and finding clients is the hardest part of running an insurance agency and you are giving up half the income and renewals to make this happen.

If you are a life agent and want to pick up some referral dollars by referring the P&C side to someone, it might be an easy way to do it. Not clear that they won't market life to them though, trying to replace your policy.

Bottom line is I wish I had thought of this as a way to grow my agency. Pay 50% of the first year commission, no renewals... oh wait, I did use this, with a higher commission rate.

Keep in mind, you are getting 50% of 10%, not 50% of the premium.


Dan

Concerns:
1. $150 one time set up fee, $100 until 1/17/16. Starting a business for $100 is about as good as it gets. Additional fees to get licensed, you must be licensed to get referral fees. You can join prior, but you will not get paid until you pass the test. It includes a website and back office.

2. You do not own the business, but there is never really a reason to leave. If you produce enough, something could probably be worked out.

3. Any insurance business will take time.

Other things:
1. You do get residuals for life.
2. You can build an agency below you and earn overrides on their production. So in actuality you can build up a residual income much quicker than working for an agency at a 40/30 split.
3. You do not need a license in all 38 states they write. You don't need E&O coverage, a CSR, office space or agency management system.

If anyone would like to see the opportunity video that explains it in 20 minutes, check out my website in profile or send me a private essays.

 

[DHK]

Concerns:
1. $150 one time set up fee, $100 until 1/17/16. Starting a business for $100 is about as good as it gets. Additional fees to get licensed, you must be licensed to get referral fees. You can join prior, but you will not get paid until you pass the test. It includes a website and back office.

2. You do not own the business, but there is never really a reason to leave. If you produce enough, something could probably be worked out.

3. Any insurance business will take time.

Other things:
1. You do get residuals for life.
2. You can build an agency below you and earn overrides on their production. So in actuality you can build up a residual income much quicker than working for an agency at a 40/30 split.
3. You do not need a license in all 38 states they write. You don't need E&O coverage, a CSR, office space or agency management system.

If anyone would like to see the opportunity video that explains it in 20 minutes, check out my website in profile or send me a private essays.

RUN!!!!!!!!!!!!!!!!!!

No license & no E&O... spells out a potentially bad scenario. If your referring partner screws up... YOU can be held liable. I would NOT want to be held liable without a license & E&O coverage.

Holding others as experts and YOU can be held liable - YouTube

 

[agentinsouth]

RUN!!!!!!!!!!!!!!!!!! No license & no E&O... spells out a potentially bad scenario. If your referring partner screws up... YOU can be held liable. I would NOT want to be held liable without a license & E&O coverage. Holding others as experts and YOU can be held liable - YouTube

Umm- yea?? After reading their website, as the selling agent, most all of our E&O will NOT over us if we broker out any part of our business. I also like: "You can earn a commission on your own purchase by becoming your own agent (lowering your overall net cost even more). " If this is the draw, what am I thinking??? Wait for it.. Wait for it... Wait for it.... Oh yea, CONTROLLED BUSINESS!!!!

 

[djs]

Concerns:

3. Any insurance business will take time.

This is my point. You are NOT building an insurance business. You are paying up front to be a salesman for a company. At best, you are building an MLM business. Might as well sell tupperware, prepaid legal, avon and rainbow vacuum cleaners at the same time.

I can somewhat see how a realtor might be interested in this arrangement since it doesn't compete with them. I don't understand how an insurance agent would touch this since it is highly likely the company will try to rewrite my business with the person I referred to them.

Why would I put the effort in if I'm not building my insurance business? I know people will, and it sounds hassle free, but if I'm doing 80% of the work, then I need better income.

Yeah, ok, I've seen several brokers try to build sales forces with this approach before. None of them seem to work out long term and I've never seen a person 'be profitable' from referring to the broker in these cases.

Lets do the math.... if I wanted to make an extra $500 a month, I would need to refer $10,000 of written business a month. Thats $120,000 of written business a year, providing it all stays on the books.

Granted, $120K in P&C production isn't great, but I am only making $500 a month. This also assumes I don't have any expenses to find the business to refer.

I don't get it. This math is why agencies can't hire producers at 50% commission only, especially if the producer has to pay to start and pay all his own expenses on top of that.

Dan

 

[cruhm1971]

RUN!!!!!!!!!!!!!!!!!!

No license & no E&O... spells out a potentially bad scenario. If your referring partner screws up... YOU can be held liable. I would NOT want to be held liable without a license & E&O coverage.



The agency writing the business has E&O. We simply refer the business. I don't see the quotes or offer any advice. I do have E&O nonetheless.

The agency only writes responsibly, no state minimums or cutting out coverage to write a policy. They are very thorough. My policy is $1,000,000 Single limit liability with them. They educate the consumer on the policy, perform annual reviews and do a great job. I don't have a worry in the world. I do my job clarifying the relationship before referring. Trust me, this concern was addressed before signing on.

I can't say this for Geico, Progressive and many other captive agents that I've competed against and noticed coverage at state minimum or just a little higher, but below the minimum $100,000/$300,000/$100,000 everyone should at least have.

Thanks for addressing.

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That YouTube video is super extreme. This opportunity isn't for everyone. I certainly understand that and respect the opinions above.

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"I can somewhat see how a realtor might be interested in this arrangement since it doesn't compete with them. I don't understand how an insurance agent would touch this since it is highly likely the company will try to rewrite my business with the person I referred to them."

I don't really understand the last sentence. I refer it to an agency that has been in business for 32 years. If they shop the insurance for my referral 2 years down the road, it stays with my ID and I continue you to receive the referral residual. I think that's what you're saying? If you're talking about other lines, I guess that could happen depending on your relationship with the referral.

 

[FinalExpenseDojo.com]

If you're going to join a MLM why not just start your own agency from scratch. Instead of making 30% commission + 10% of the people you recruit, you can make 125% commission and 30% from others. When I went to an interview for a MLM insurance company the office was messy, nobody was there, they were unprofessional, and slick.

On the other hand, when I went to a legitimate insurance company to interview (NYL , NWM...) there were agents everywhere hustling...

Which one do you think sells more insurance?