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[midwestbroker]

Ahhh....complaints...

I am dealing with the MO DOI right now. I had a complaint that their low income subsidy did not roll over. The client said that I told them it would, and I told the DOI that is exactly what I said as it should have.

Knowing that I am in the clear, it is almost amusing to read their letters they send me asking questions. I have gotten a total of 4 letters asking questions. The person sending them should be a politician. She is all over the place asking questions, most which were answered in my first reply.

Other then this game, I have nothing. I do know some top producers that are pretty nice people, but I have met some bastard managers.

 

[Crabcake Johnny]

Getting back to the original post it's been my experience that in this field and the field of sales in general high volume trumps everything.

 

[Frank Stastny]

Getting back to the original post it's been my experience that in this field and the field of sales in general high volume trumps everything.

Persistency also plays a huge part in insurance sales. High volume doesn't mean a thing if most of what is sold is canceled.

Most agents who try to "slam" people into buying a policy usually have crappy persistency. In other words, a very high cancellation rate. They are in it for the up-front commission, not the long haul.

You have to know the criteria they are using to define a "top producer". Is it sales or in force premium?

When I was captive it was based on in force premium, not sales. Any schmuck can be a high producer if it is based on sales in the insurance industry. I worked with several of them, they turned in huge numbers of apps written each week, but at the end of the year their in force permium figures sucked.

Not all "high producers" are bottom feeders.

 

[Crabcake Johnny]

I think what we're getting at is if you slam 4 people a day and when all the dust settles you're only left with 1 a day at 20% commish that's still six figures by lying and cheating people.

Clients trust you. You don't have to actually lie - just don't disclose anything and cover yourself by sending the brochure:

"Tim, I highly recommend the Right Start. I think it's a great plan and very cost effective. Tim, when was the last time you had an outpatient surgery? Exactly. Why pay for things you most likely will never use."

Can that agent be sued? Nope. He didn't lie and it's his personal belief that Right Start is a good plan. Is it unethical? Sure but I think that's what this post is about. Can the "higher-ups" clamp down or should they clamp down on this type of selling. Should Assurant be rolling these agents under the bus? If you hit the Assurant website and run a quote Right Start has a big red "MOST POPULAR" next to it - obviously an attempt to drive clients to those plans. So when agents drive clients to those plans all of a sudden it's an ethical problem? Sounds like a case of "do what I say not what I do."

 

[Vision]

Frank, how much detail do you put into your conversation documentation? It seems like it could be endless.

 

[Crabcake Johnny]

I need to correct my previous post. If you run rates at Assurant's site it now lists CoreMed and One Deductible PPO as "popular." That is extremely interesting to me since a while ago Right Start was labled "popular." I'm assuming they have to get bit in the ass to learn.

 

[somarco]

Unless your shop is producing 500+ apps a week you are not in the same ballpark as the producer in question.

Volume rules in any home office. Only when your block turns sour, or your volume drops off, does a carrier start to grumble.

 

[J.R.]

Unless your shop is producing 500+ apps a week you are not in the same ballpark as the producer in question.

Volume rules in any home office. Only when your block turns sour, or your volume drops off, does a carrier start to grumble.

500 apps a week! I'd be quite content with just 5% of that

 

[Crabcake Johnny]

Maybe it's the same outfit that teaches their agents to flip their entire block of business from carrier to carrier each year so they can get a new commish.

Insurance companies take a loss on 1st year business with commissions, marketing and underwriting costs. So if you take your entire block of GR biz and flip all of them to Assurant at month 12 I'm sure GR isn't impressed with that.

 

[Frank Stastny]

Frank, how much detail do you put into your conversation documentation? It seems like it could be endless.

In that particular case I had almost three pages. The process of her making a decision regarding the benefits she settled on took almost three months. It was not an "emotional decision" for her.

The comment box in the program I use will hold 52, 8 1/2x 11 pages of single spaced type so the amount of information is not a consideration. What is important is the CYA consideration.

Most of my client records simply say where and when I met the client and who else was present. If I had a phone conversation with a relative I also make a note of that.