KSKJ info needed

[rousemark]

I do think Louis's point has some merit, and he is not the only one to have brought this up with respect to KSKJ. If you have client's paying, in some cases, $15 to $20/month (or more) higher premium with a carrier than you could get them with KSKJ, is it wrong to go back and offer them the chance to apply for that savings (or, better yet, a significantly higher death benefit).

I'm not doing it, but I Have KSKJ, and I have clients who would likely jump at the chance to pay the same for $5000 more coverage or pay $15/month less for the same. Is it not somewhat of a moral dilemma for the agent?

Take commissions out of the discussion: If the only one who stood to benefit was the client, what would be the right thing to do?

I really wasn't just referring to KSKJ but to all that are using that method of producing business no matter what company they use.

 

[rousemark]

It is never ethical to proactively flip your own book of WL. Med Sups and term conversions are fine. But not WL. And no one is working a competitors book either. They are working leads that are actively looking for something.

If your current client is actively responding to a lead which happens on occasion you have to make a judgement call. But if you always write very competitive companies to start with you could rarely put them in a better position than you could the first time.

When you focus on low premiums its easy finding competitor's products you can beat. You don't need to work your own customers over.

I'm pretty sure the agencies that train their agents to flip their books are not the agencies that train their agents to sell the lower priced companies. Those agencies wouldnt last long.

You seem to think your customers are not actively seeking something.. How do you know? They could be sending in DM cards but someone else is getting them. My real point is simply this.. To replace another agent's coverage with a lower price presmium and then claim you are doing it because you are helping the client means that if really think that, then you should do the same for them. If it is best for the other guys clients, it would also be best for yours..... To write your low price leader as being best for the client only in competitive situations means you are not doing the best for the client when you use a higher priced company for the same client class in non competitive situations. Why not just admit we are doing what is best for our wallets while trying to do no harm to the client.

 

[DayTimer]

I really wasn't just referring to KSKJ but to all that are using that method of producing business no matter what company they use.

I understand. I really do not think using a price buster as your go to is problematic: @jdeasy seems always to have done this. He straight up always gives his clients the best priced carrier for which they qualify.

The problem arises when the agent picks and chooses which clients get the price buster rate and which clients get the higher rate/higher commission carrier, right?

It is never ethical to proactively flip your own book of WL.

But why?

 

[Newby]

You seem to think your customers are not actively seeking something.. How do you know? They could be sending in DM cards but someone else is getting them. My real point is simply this.. To replace another agent's coverage with a lower price presmium and then claim you are doing it because you are helping the client means that if really think that, then you should do the same for them. If it is best for the other guys clients, it would also be best for yours..... To write your low price leader as being best for the client only in competitive situations means you are not doing the best for the client when you use a higher priced company for the same client class in non competitive situations. Why not just admit we are doing what is best for our wallets while trying to do no harm to the client.

I've never been one to write high priced companies. I'e never thought I was a good enough salmon for at. I have always stuck to the low end of the scale of the companies that will approve the case.

This is why I think I have enjoyed much better persistency than most agents. We have debated this for years on here. But it's what I believe. I obviously have some very large contracts with some of the companies but choose to write the lower priced ones that don't offer as much commission. I have never seen this as a problem. Makes my job easier.

Maybe it's all in my mind. But it's the way I've always thought. It was the advantage I saw as soon as I learned what a broker agent is compared to a captive agent.

 

[Newby]

I understand. I really do not think using a price buster as your go to is problematic: @jdeasy seems always to have done this. He straight up always gives his clients the best priced carrier for which they qualify.

The problem arises when the agent picks and chooses which clients get the price buster rate and which clients get the higher rate/higher commission carrier, right?




But why?

Because you represent your insurance companies. You can do a great job for your clients without treating your insurance companies poorly. It has to work for everyone. The client, the agent and the insurance company. If YOU bring a customer to an insurance company it should be because they are a good fit. There shouldn't be many situations where that changes.

Sometimes someone will age out of a graded plan and are actively shopping to change. I've had maybe a half dozen of those in 22-years. But I don't seek them out.

 

[DayTimer]

Because you represent your insurance companies.

Who represents the consumer?

 

[Newby]

Who represents the consumer?

You need to read your contracts. The consumer represents the consumer. If you are placing them with competitive companies you are doing a good jobs of helping them find a good deal. But you are the representative of the insurance company.

Consumers need to price compare and be somewhat aware of pricing to know if they are getting a good deal or not. We know. And if we sell competitive companies we are helping them find one of the lowest rates that they can get approved with on the right kind of insurance.

But you still represent the insurance company, not the consumer. Fortunately for everyone your interests AND the consumers interests are parallel. You want to help them qualify at a good rate.

 

[NSRH]

There you go with your pointed assumptions again NSRH. You can never accept that agencies can sell good business and focus on price.

Oxford, KSKJ and Trinity are all thrilled with our persistancy as are all of our companies. And we have finished in the 1st or 2nd position (volume of business) with all three of them for four straight years.

Now AmAn on the other hand...,

Im not assuming anything.

I am merely pointing out that there are agents who replace their business after thirteen months.

I didnt name any specific IMO in particular.

Feeling guilty?

 

[goillini52]

I'e never thought I was a good enough salmon for at.

I've thought of you as more of a catfish.

 

[Newby]

KSKJ did announce today at the convention that an e-app will be released soon (web based but with a method to do an e-app when you have no internet connection in the house) and they are going o start paying commission on the policy fee when the e-app is used.

Paper apps will always be accepted. But like in the past the policy fee is not commissionable on those.

Small tweaks but nice ones.