ING for FE

[captain94]

I saw the rates and they weren't great nor terrible. But I would guess they are just another poser that thinks they want to jump in the FE money pool. They won't have a clue about the FE market and 2 years, if they last that long, there will be major changes once they have to start paying non contestable claims. Happened with Chesapeake, happened with Foresters and it will happen to the next clueless company that was sold on the idea by some VP that's never sold a policy in their life.

I need a like button!!!!

 

[360]

My understanding is that the product is paperless but that it's currently only allowed to be sold F2F. I know, makes no sense. It's kind of like Monumental offering I-Go esigs and also requiring F2F.

 

[gordon112]

I saw the rates and they weren't great nor terrible. But I would guess they are just another poser that thinks they want to jump in the FE money pool. They won't have a clue about the FE market and 2 years, if they last that long, there will be major changes once they have to start paying non contestable claims. Happened with Chesapeake, happened with Foresters and it will happen to the next clueless company that was sold on the idea by some VP that's never sold a policy in their life.

+1 it is amazing the lack of research some companies do.

 

[GoCubsGo]

I saw the rates and they weren't great nor terrible. But I would guess they are just another poser that thinks they want to jump in the FE money pool. They won't have a clue about the FE market and 2 years, if they last that long, there will be major changes once they have to start paying non contestable claims. Happened with Chesapeake, happened with Foresters and it will happen to the next clueless company that was sold on the idea by some VP that's never sold a policy in their life.

Didn't ING get into mortgage protection by hiring the guy from F&G who created Home Certain? Maybe he's doing FE now? ha

 

[InsuranceMonkey]

Didn't ING get into mortgage protection by hiring the guy from F&G who created Home Certain? Maybe he's doing FE now? ha

I was a part of the start up underwriting team for INGs morgage term product. They really talked the product up and how big it was going to be, how we needed to get ready for the avalanche of apps that would be incoming, how, how, how... nothing ever really came of that product. There was initially 8 of us assigned to the team, within 1 year I was reassigned to other biz, they only needed 1 underwriter to handle it. It's still out there to help fill up the ING portfolio.

 

[AnonymousOne]

The FE is probably for their rebranding...

 

[TwiLight]

The FE is probably for their rebranding...

That is one reason my partners and I passed on them. They came to us back in August last year to help design the plan and give our input for one of the handful of FMO deals they were going to offer.

We passed, seen this before with Chesapeake. Also, the pending IPO was also looming.

Now with the IPO/Sale done they have agreed to change the name of the company by November 2013. ING can no longer be a part of their name or branding.

 

[digfesales105]

I haven't field tested them yet. They look to be very good for telesales. Priced a bit higher than we like but not out of the market if they turn out to have some nice niches with underwriting. The app is completely done over the phone. No paper involved. No mistakes that way and it's issued and paid within 2-days.

I'm told that us and one telesales agency are the only independent agent distribution channels for them. They are pretty exclusive at this point.

I am looking to sign some telesales agencies up with them to really see where they shine.

I'm just saying...that's not really true. I have their contracting from 4 different sources that sent it to me. It's the same as when Forethought started their T-sales program. Everyone had the "exclusive" yet everyone had it.

It's a decent app. No...I haven't picked it up yet. Like with most newbies in the FE market especially telesales...there will be some growing pains. Like right now, their phone process is about 25 mins long. Thats waaaaay too long. Plus, they will most likely change up some of the underwriting in a few months.

I found it better to sit on the sidelines and see how it plays out before generating business. But having that name is strong.
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My understanding is that the product is paperless but that it's currently only allowed to be sold F2F. I know, makes no sense. It's kind of like Monumental offering I-Go esigs and also requiring F2F.

You have to be an approved call center for the telesales part.

 

[Mattschmidt]

I'm just saying...that's not really true. I have their contracting from 4 different sources that sent it to me. It's the same as when Forethought started their T-sales program. Everyone had the "exclusive" yet everyone had it.

It's a decent app. No...I haven't picked it up yet. Like with most newbies in the FE market especially telesales...there will be some growing pains. Like right now, their phone process is about 25 mins long. Thats waaaaay too long. Plus, they will most likely change up some of the underwriting in a few months.

I found it better to sit on the sidelines and see how it plays out before generating business. But having that name is strong.
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You have to be an approved call center for the telesales part.

Not true. Several IMO's offer the telesales that aren a call center type environment. Please stop giving bad information

 

[tins]

Not true. Several IMO's offer the telesales that aren a call center type environment. Please stop giving bad information

I think he was talking about ING, specifically.