Insurance Quote Software (engine)

[Frank Stastny]

I get asked frequently about a "quote engine" for Med Supps. I really neither see the value or the need for one. Even if a really good one was available I would not use it.

Med Supps are not like individual health insurance, nor are they like life insurance. There are "no moving parts" to them. Prospects either qualify or they don't. No riders, no rate ups, no exclusions. When I'm talking to a prospect I need the premium instantly.

It would take way too long to enter data in a quote engine to get the price. I know their age and DOB before I call. All I have to do is glance down at the rate sheet and give them the premium.

There are only going to be two, maybe three at the very most, top competitive companies in a given state. I always know who they are. I don't need a quote engine that displays all of the companies. I'm not going to sell a policy for the more expensive ones anyway nor will seniors buy them unless I can save them money.

Just because the technology may be available it doesn't mean that it is a more efficient way of doing it. Sometimes it can slow one down.

As a side note, I was talking to an agent last week and he had a quote engine. He took the time to enter the data while on the phone with me. I had the rate sheet. Not only did I have the premium before him, the rate his quote engine came up with was wrong. If I had given his price to a senior I most probably would not have made the sale and not known why.

 

[retread]

I get asked frequently about a "quote engine" for Med Supps. I really neither see the value or the need for one. Even if a really good one was available I would not use it.

Med Supps are not like individual health insurance, nor are they like life insurance. There are "no moving parts" to them. Prospects either qualify or they don't. No riders, no rate ups, no exclusions. When I'm talking to a prospect I need the premium instantly.

It would take way too long to enter data in a quote engine to get the price. I know their age and DOB before I call. All I have to do is glance down at the rate sheet and give them the premium.

There are only going to be two, maybe three at the very most, top competitive companies in a given state. I always know who they are. I don't need a quote engine that displays all of the companies. I'm not going to sell a policy for the more expensive ones anyway nor will seniors buy them unless I can save them money.

Just because the technology may be available it doesn't mean that it is a more efficient way of doing it. Sometimes it can slow one down.

As a side note, I was talking to an agent last week and he had a quote engine. He took the time to enter the data while on the phone with me. I had the rate sheet. Not only did I have the premium before him, the rate his quote engine came up with was wrong. If I had given his price to a senior I most probably would not have made the sale and not known why.

Rate sheets are all I have at the moment, but if Norvax came up with them, I would use them. I'm tired of having to constantly update my Sales Notebooks, and with 6 states to cover, that's a lot of time spent doing non-sales work.

When flying around the world (in my former life) I had to update my approach plates for every airport from Salina, KS to Rome, Italy. MANUALLY. EVERY TRIP.

Now those young whippersnappers that have taken my place have laptops with everything downloaded AUTOMATICALLY. (And yet some of them miss the airport by hundreds of miles, I know... )

 

[Frank Stastny]

...with 6 states to cover,...

Not every senior in Missouri has a policy with me yet so I do the bulk of my selling here. When contacting seniors in other states I only concentrate on one state at a time.

Since I generate my own leads I know where I'm going to be selling on any given day or week. I just use the folder for that state. In it I have the rates, apps, etc.

 

[retread]

Not every senior in Missouri has a policy with me yet so I do the bulk of my selling here. When contacting seniors in other states I only concentrate on one state at a time.

Since I generate my own leads I know where I'm going to be selling on any given day or week. I just use the folder for that state. In it I have the rates, apps, etc.

Good strategy... I get your point!