Liberty Mutual: Advice from CaptiveGuy and Nyc2phi

[aj22]

I am seeking advice from CaptiveGuy, nyc2phi, and anyone else who started their insurance careers at Liberty Mutual.

I had my first interview today and after handing them a marketing plan (apparently first person to ever hand one in on the first interview) was told I would receive a callback tomorrow and a job offer as long as my background check was ok (it will be.)

My question for the two of you (or anyone who has experience with them) is what advice would you give in order to be successful?

I'm already searching for networking groups to join, searching for places to set up affiliate programs and purchasing scrubbed records targeting their niche market as well as some of Mark's ideas (New HO's and fundraiser idea.) Do you have any other suggestions for me so I can hit the ground running? My goal is 1 HO and 1 Auto a day and 1 term policy a week, or roughly 25-30k in premium a month.

Any advice you can give would be helpful, and if anyone would prefer to discuss this over email or the phone please pm me your contact info.

 

[CaptiveGuy]

First of all, good choice starting with Liberty they have some of the best training in the p&c industry. You will be able to learn with 0 expenses.

What worked for me in order of policies/premium:

1. Networking - (groups, events, chamber, etc)
2. Referrals - ask every new client and this gets easier as your book grows. Offer $10 gift cards and send thank you cards per referral if legal in your area.
3. Internet Leads - buy filtered leads that work with LM's target of home owners, college educated, and multiple car.
4. Liberty call ins and internet leads which are rotated between reps.

For life insurance start by asking all of your home insurance clients or just include a quote after you send the home application. Younger couples or individuals may want to see a permanent policy as well.

Go out and stop in to real estate, mortgage, and financial planners' offices when you have any free time or set a day aside for it. Work backwards on your goal of $30k of premium and see how many policies you need to sell each week etc.

 

[aj22]

Thank you for the advice!

 

[nyc2phi]

aj22 what state will you be located in ?

CaptiveGuy pretty much hit every point I was going to make and he was really successful at LM so I would strongly take that advice.

My niche here has been those filtered internet leads. I only buy homeowners leads since individuals that own a home, rate well with LM. Then I always try to cross-sell the auto & life. I do pay for these leads so I do have some expenses but the more business you close, the higher the bonuses you get so I dont not worry about the cost just my ROI.

They will also want you to open what they call GSP accounts. These can be beneficial as well but they require a lot of work. I would dedicate two or three sessions a week to calling these GSP's for at least an hour.

Put in two call nights a week when starting out and possibly one saturday a month.

Best of luck

 

[aj22]

Thanks nyc.

I'm in Georgia, just north of Atlanta.

I'll definitely take your advice about the call nights. I don't have any connections in the area so I'm nervous about opening affinity accounts but I know that will just take time.

 

[nyc2phi]

Thanks nyc.

I'm in Georgia, just north of Atlanta.

I'll definitely take your advice about the call nights. I don't have any connections in the area so I'm nervous about opening affinity accounts but I know that will just take time.

The affinity accounts are not about connections but they can help. You'll make connections through Chamber and BNI's. All the affinity accounts I've opened have been through cold call. Call companies in the area that have 50 or more employees, ask to speak to the person who handles the benefits, and pitch the free voluntary benefit. Best time to do this is between 9-11AM and 4-6PM

 

[PandCforMe]

What lead companies are you using NYC? I work for LM in Florida and I'm getting killed. Our auto rates are terrible, and homes don't count towards our quotas. The only time that we are remotely competitive is married, multi car, homeowners with GSP (good credit too of course). My conversion is literally like trying to find a needle in a haystack. Any other advice?

 

[nyc2phi]

I use NetQuote for home leads.

FL is tough, especially for a captive agent. You would really need to focus on warm referrals because those have the highest closing ratio.

I feel like indy in FL is the way to go if its ever an option for you.

 

[PandCforMe]

I use NetQuote for home leads.

FL is tough, especially for a captive agent. You would really need to focus on warm referrals because those have the highest closing ratio.

I feel like indy in FL is the way to go if its ever an option for you.

Good to know I'll try them out. It's not for me yet, only been here 5 months. Just trying to keep grinding and staying positive. Definitely feels like I'm stuck with a product I can't sell sometimes though

 

[ins cloud]

Captiveguy basically hit all the major points. LM is a good starting off point but unless you are a heavy prospecting type and are in the top 10-15 in your state, it's not a great long term option. They are big on gsp stuff, defensive driving, lunch and learns and want you to do 2 onsites a month.

Stuff like that is not for me and unless I buy a substantial amount of Internet leads its not a place I can stay at much longer and I've been here 4 years already, which IMHO is 2 years too long but finding direct appointments in the downstate ny area has not proven to be an easy task.

Good luck to you