Internet Tire Kickers

[CHUMPS FROM OXFORD]

"Even the ones I do not sell many times will refer others to me."

That is a gold mine. I can't say that I have been as fortunate with the ones that do not buy from me. A referral every now and then, but not many.

 

[somarco]

I have found that being up front with folks works to my advantage more often than not. Some weeks it seems like half the folks I talk to are untouchable. In reality, it probably isn't that high, just seems like it.

They have coverage thru an employer and paying $120 per month for a family plan. They have a condition that makes them uninsurable, or at least, would not be covered by a new plan.

I told a guy last week that COBRA was his best option. He thanked me then referred a friend.

I have never tried to be one to milk a client or make a sale just to say I got paid. I know some agents will push cancer plans, accident plans, etc when they are shot down with their first pitch.

Nothing wrong as long as you feel comfortable with that approach.

I always felt like the prospect senses I am just there to make a sale when using the Detective Columbo approach.

"Pardon me, but just one more thing . . . "

The Columbo close works well face to face but I think it loses something over the phone, and especially when you use the pitch to launch into another product line.

 

[ABC]

I create my own leads with my website. If your trying to get rid of the tire kickers then have the person fill out additional questions for a quote. I use to have about 15 fields to fill out for a individual quote.
This will get rid of all the tire kickers. It also will get rid of everyone under 30. Then the people that submit for quotes will take your calls and discuss options.
I did this approach for the last 5 years online.

Now I have switched to a Norvax quote engine. This has increased my leads but much more tire kickers. The online sales have really stayed about the same. I am writing the paper but my decline rate is dam near 35%. Now with the online application people say one thing but submit another.

Online sales is different from F2F. When your speaking to someone that is from online they are more likely to with hold medical information from you than if your meeting with them.

Google has just changed a ton of things when it comes to SEO and PPC. Watch out for first quarter because these lead sites could get knock down a lot of spaces.

 

[Crabcake Johnny]

I go over claims review, MIB and pharma searches - all of a sudden their memory gets better.

 

[TXINSURANCE]

John - Who does MIB for health these days?

 

[Crabcake Johnny]

In MD? Assurant, GR, BX, Coventry, Aetna....

 

[somarco]

decline rate is dam near 35%.

Might want to re-evaluate your website. Sounds like you are attracting the wrong crowd.

I take on a lot of folks other agents will turn away, but I don't get anywhere near 35% rejects. I have never run numbers, but it might be 2 - 3% and wouldn't be that high if I didn't take on challenging cases.

Sometimes, but not too often, I have to go to a back up carrier if our first shot doesn't work. Had a guy last year that we sent to 3 carriers before getting an offer that was acceptable. Didn't get a reject, but didn't like the final offer from the first 2 carriers.

 

[motoxxx]

I think that people think they can get away with being inaccurate or incomplete online. In some states, my decline rate is about 30% but it depends on the company. Here in WA, my approval rate is around 92%.

 

[somarco]

I think that people think they can get away with being inaccurate or incomplete online.

You will get no argument from me on that point. But when I actually talk to the people, take a medical history, check their medical conditions against underwriting guides and (in some cases) conduct a pre-screen I don't have those problems.

It sounds like all you do is pitch a plan and send a link to an app. If so, I can understand the high decline rate. Actually surprised it isn't higher if that is your "M.O.".

 

[ABC]

It sounds like all you do is pitch a plan and send a link to an app. If so, I can understand the high decline rate. Actually surprised it isn't higher if that is your "M.O.".

You are 100% correct. I will have 2 phone calls maybe 3 with them over plan design and carriers. I usually will send no more than two carriers.
When it comes to individual online sales I just want to do volume. My goal is to write 30 policies a month at an average premium of $250 per month. If only 20 of them get approved hey I am ok with that. The policies stay on the book about 2.5 yrs.

I am launching a new web site Jan 1st that is being built by an SEO guy. I estimate on the individual side for my state I can produce 10 leads a day Mon-Fri. If I can get 10 leads a day I know I will hit my goal.