IMO's or other Organizations Dedicated to Supporting Agency Builders

[titeye]

We talk extensively about organizations with the best and worst commissions; carriers with a niche for various health concerns; those with complicated or ease of underwriting; tele-sales vs. f2f; e-apps vs. PHI; these leads vs. those leads; etc., etc., etc. What I do not hear often discussed, if ever, are agent experiences with building their practices beyond personal productions.

Which ever direction it ultimately leads, I am looking to begin a discussion about who has the best agency building strategy and the reasons behind your decision, that is specifically geared toward the senior market. Although I anticipate the usual suspects, such as Senior Life, Symmetry, and Lincoln Heritage agents will enter the conversation, I am also interested in whether not-so-well-known IMO's are dedicated to serving this agent group. This conversation may include, but is in no way limited just to Final Expense life insurance.

 

[Newby]

Are you asking about building a proper agency? Or pyramid recruiting?

 

[TRG1225]

I'll take a crack at this. Personally, I think the only thing that matters about the IMO is the trustworthiness, alignment with your growth strategy, lead opportunities/connections, and marketing comp...in that particular order.

I'm still highly new to the independent game, but once I get burned, I tend to learn fast. Once I was educated to a lot of the BS, smoke, and snake oil by Todd King, Matt Mungia, Ed Crowe, Daytimer, etc., I realized that for me to get that best combination of the four things I mentioned above, it would require having contracts with different IMO's.

The common theme for my team is that we want to be able to do everything over the phone. If something comes up where we have to do a F2F occasionally, no problem, but 95% of the M.O. needs to be telephonic and/or video.

So that meant finding IMO's with lead systems and marketing co-opts that could best help us achieve that strategy. We have one group for Medicare, another for FE and term, another for annuities/IUL, and going to add another for an under 65 health resource as well.

While the immediate focus right now is FE then Medicare for AEP and long term, we will carry the other products to handle client interest as we need it.

This also allots me the flexibility to offer product specific contracts where I know if I'm talking to a guy that's strong with annuities, I have a strong value proposition for that particular product. However, I can also position it as a strength that I won't ever pressure him or her to put all of their contracts just through me. I sell myself as a benefit to them in that I'm a treasure trove of product knowledge (especially with Medicare, the rest of it, I just know where/who to get it from) that's only as involved as they need me to be and if I don't know the answer, I know an expert who does. So we are heavily invested in the daily business of getting shit done. Nothing more, nothing less.

Of course, this is old hat to all the long time posters who have already built their businesses into something special.

We really haven't gotten started yet, but we will very soon. I think we're positioned about as well as we could be, using this strategy.

 

[DonP]

Was writing a woman using connecture with a dual today . Went with United . I find out United only allows face to face using 3rd party platforms . Going threw lean they must have a computer . Few duals have a desktop or iPad . Had to pivot to Humana. I’d go nuts dealing with Fe and duals all day writing tele apps. I know a ton do it but just not for me .

 

[Rossat]

Was writing a woman using connecture with a dual today . Went with United . I find out United only allows face to face using 3rd party platforms . Going threw lean they must have a computer . Few duals have a desktop or iPad . Had to pivot to Humana. I’d go nuts dealing with Fe and duals all day writing tele apps. I know a ton do it but just not for me .

UHC doesn't require a computer. They have Voice Signature that can be done on a recorded call. Sounds like the member was screwed for your own convenience.

 

[titeye]

Are you asking about building a proper agency? Or pyramid recruiting?

Both, actually. I am open to dialogue and hearing pros and cons to both. The term "Pyramid" has a negative connotation, however. Since these types of agencies do have an underlying legitimate product, I did not want to insult them and not welcome them to the conversation.

 

[titeye]

...once I get burned, I tend to learn fast. Once I was educated to a lot of the BS, smoke, and snake oil by Todd King, Matt Mungia, Ed Crowe, Daytimer, etc., I realized that for me to get that best combination of the four things I mentioned above, it would require having contracts with different IMO's.

Do you mind elaborating on this part of your experience with each of the individuals? I am not looking for you to single anyone out, unless you feel it pertinent. More importantly, please provide specific details of the BS, smoke, and snake oil. How did you get burned in each situation? Full transparency is what I am trying to get out of this dialogue.

 

[JSmithPGH]

@TRG1225 seems to have something that a lot of agents that want to grow lack: a plan. One of the most challenging steps for a successful Independent Agent is transitioning from being an individual to onboarding sub agents and maintaining a training pipeline. Most struggle with the recruitment, some struggle with time management. The truth is there's no one-size-fits-all mechanism to make it work.

Having said that, full disclosure: I work at Neishloss & Fleming on the Agency Management team, I'd be happy to spend time to chat about what you're currently doing and how to make that pivot and be successful.

@titeye, is Medicare your primary market? Can you give any insights to what your book of business looks like now? Do you have downlines in mind or are you needing to recruit?

 

[Todd King]

We talk extensively about organizations with the best and worst commissions; carriers with a niche for various health concerns; those with complicated or ease of underwriting; tele-sales vs. f2f; e-apps vs. PHI; these leads vs. those leads; etc., etc., etc. What I do not hear often discussed, if ever, are agent experiences with building their practices beyond personal productions.

Which ever direction it ultimately leads, I am looking to begin a discussion about who has the best agency building strategy and the reasons behind your decision, that is specifically geared toward the senior market. Although I anticipate the usual suspects, such as Senior Life, Symmetry, and Lincoln Heritage agents will enter the conversation, I am also interested in whether not-so-well-known IMO's are dedicated to serving this agent group. This conversation may include, but is in no way limited just to Final Expense life insurance.

This might help.... Your Guide to Running an Independent Insurance Agency | TRKingIM

 

[wehotex]

UHC doesn't require a computer. They have Voice Signature that can be done on a recorded call. Sounds like the member was screwed for your own convenience.

I second this. LEAN is by far the easiest voice apps of all the MA carriers that I deal with. It is even available in Spanish.