Manager Transitioning from Life to Health

[Crabcake Johnny]

It's an ethical tightrope to run a captive agency with two health carriers. I know - I run one. My agency, however, is not captive and everyone with me is encouraged to seek out all available appointments. I even train on Aetna and Blue Cross since no one else will. I could not imagine running my agency with a "Assurant or UA and that's it" concept. Far too many people to walk away from. I need GR, Blue Cross and Aetna - as do my agents. I recommend that my agents get with Jesse McDonald for a GR appointment since he's arguably the most ethical agent I've ever met.

Coventry is also coming into MD with indie plans in June. And as soon as they do everyone with me will be encouraged to get appointed. Doubtful I'll be able to pick up a GA deal with them.

I do not, nor do my agents sell "Right" anything. Even Mike Golden will admit that he never sells SaveRight HSA anymore. Not a single one of my agents has ever sold a Right Start - nor will they and retain me as a GA. They can get another contract with someone else. I don't even train agents on Right Start. If I saw an app in underwriting both the agent and client would be getting a call from me.

I to would want to know what the structure of this entire show. Is this a captive arrangement where the agents can only sell Assurant or UA? If so, good luck with that.

 

[DAA]

Somarco,

Thanks for the information. I would like to talk to you more about this. I'll give you a call soon. To answer your questions:
1. What kind of volume is your MGA expecting? There is no production requirement. I'm appointed directly with Assurant and the MGA gets an override. I have no written contract with the MGA.

2.Is there an agency here already or are you building from scratch? I'm starting from scratch.

3. What kind of comp are you offering on the Time product? 15% with 3% renewals.

4. What kind of advance? 90% first year premium. $750. max per policy.

5. Do you have a lead system? America's Health Team furnishes direct mail leads, telemarketing leads and Internet Leads. They tell me that 60% of my sales will come from their leads.

6. How are you going to recruit? America's Health Team does the recruiting. They have a full time recruiter who sets up seminars in the area and we recruit mostly from the seminars. I also recruit daily by talking to every person I come across that I think would be a good agent.

I'm going to be out of town for a couple of days this coming week, but I'll give you a call when I return. Thanks again for the information.

 

[Crabcake Johnny]

You state a 90% advance? Assurant only advances 12 months or as-earned so I'm assuming the agents will not be paid directly by Assurant.

 

[somarco]

comp are you offering on the Time product? 15% with 3% renewals.

Good luck.

15% is for rookies. Anyone with more than 12 months experience can get 20%.

What kind of advance? 90% first year premium

Are you responsible for chargebacks? If so, you might want to reconsider.

I assume you mean 90% advance on the commission. Some GA's are offering 100% advance with a cap.

America's Health Team does the recruiting. They have a full time recruiter who sets up seminars in the area and we recruit mostly from the seminars. I also recruit daily by talking to every person I come across that I think would be a good agent.

Are these guys (and gals) former Mid-West or Mega agents?

I know a lady here locally (former Mid-West) that is now working for "America's Team" in an office out of Duluth. I understand other MW agents defected from Alliance for Affordable Services to this team. Time is one of their carriers. The UA would also fit the profile since the product is similar to the MW & Mega plans. Some folks just can't get away from selling scheduled benefit plans and think PPO is a 4 letter word.

 

[Crabcake Johnny]

Lol. You can take the agent out of Mega but you can't take Mega out of the agent.

And as Somarco stated - 15% is actually fine for rookies. You'd better be taking them up to 20% quickly or you'd better supply leads. If you're not supplying leads or keeping agents at 15% longer than you should I'd be more than happy to blow out the entire team under me for 20% if any one of them found this board.

Remember what others offer - normally 20% to experienced agents with a full year advance paid directly by Assurant.

I have blown out many an agent who was being stroked. It's not 1970. There's something called the internet now where savvy agents do homework.

 

[somarco]

America's Health Team

When I Google America's Health Team it refers me to a Career Builder site with a link to this. Not much substance there. Sure sounds like the Alliance pitch.

You also get this.

And this.

 

[Crabcake Johnny]

Blech. More cheesy advertising - just what the insurance industry needs. Now I need to take a bath.

 

[newmindfashion]

DAA,
I'd be concerned with the lack of carriers available through this MGA. Why so little? What about you getting appointed with other carriers on your own to fill the void when Assurant and UA don't fit well for a customer (which will happen alot)? Are you going to just recruit or sell as well as recruit?

 

[newmindfashion]

DAA,
Take notice of Somarco's comments. He's an industry veteran in GA and its nice of him to offer that market synopsis.

 

[newmindfashion]

John Petrowski,
Thanks for the mention my friend.

Newmindfashion
(Jesse McDonald)