Med Supp and Online Sales

[ABC]

Been kicking around the idea to going after the med sup biz on my current block of group health plans.

Online Sales for med supps?

1st is anyone writing business with med supps from their online website?

Anyone doing SEO work for the med supp? Is yes what kind of results?

Will new seniors complete an application online?

 

[sman]

I have found that most seniors want to talk to someone and make the process simple for them. I've enrolled some of the more savvy (as it pertains to technology) seniors via online enrollment (even then they have to talk to me and we walk through the process and they are sent a link to finalize the process after I have completed the online application for them), but most want the paper format (that's been my experience - others may vary). I generally complete the application, put "sign here" stickers on it and include a postage paid return envelope. All they need to do is sign and include a voided check and we're good to go.

With that said, I believe as the baby boomers progress into retirement, they will be more savvy with technology and may embrace completing these types of things online.

 

[Frank Stastny]

I have found that most seniors want to talk to someone and make the process simple for them. I've enrolled some of the more savvy (as it pertains to technology) seniors via online enrollment (even then they have to talk to me and we walk through the process and they are sent a link to finalize the process after I have completed the online application for them), but most want the paper format (that's been my experience - others may vary). I generally complete the application, put "sign here" stickers on it and include a postage paid return envelope. All they need to do is sign and include a voided check and we're good to go.

With that said, I believe as the baby boomers progress into retirement, they will be more savvy with technology and may embrace completing these types of things online.

I do the same. In looking at my clients, most are not that computer savvy. My take on using online apps is that when I finally get them to where they need to be on their computer they will be so frustrated and uptight that I will have most likely lost the sale. (I don't target T65's)

If I can't visit with them in person, I believe sending them the app to actually hold and sign is a much more personal approach than doing it online.

I get accused of using "old school" methods all the time but what most don't realize is that I am dealing with "old school" people. I do it the way they are most familiar and comfortable with even though it may not be as convenient for me.

Just because something can be done doesn't mean that it is always the "best" way of doing it.

 

[Superchief]

Mutual of Omaha has an E-app. Pretty solid one.

I am working to switch my entire model to phone sales only, but don't have a website big enough to support it yet and internet leads IMO haven't quite gotten there yet.

The business is definitely headed that way I think.

 

[GreenSky]

If your going to do this Loyal if by fare your best option. They will allow you to enter all information in the computer from your home and they will follow up with the client to confirm by phone. One can also do a 3 way with the client and home office on the phone. Either way no wet signature and client just has to be able to use a phone. If you need contracts or help with them drop me a e-mail.

Just a warning. Jim admitted that he needs advances to keep his business going. I have a problem with any marketer that short on finances.

I suggest you look elsewhere for help. He's only here to recruit.

Rick

 

[sman]

Are competitive rates a concern for you or just strictly the ease of enrolling someone?

If your going to do this Loyal if by fare your best option. They will allow you to enter all information in the computer from your home and they will follow up with the client to confirm by phone. One can also do a 3 way with the client and home office on the phone. Either way no wet signature and client just has to be able to use a phone. If you need contracts or help with them drop me a e-mail.

Jim Sowder
Family 1st Insurance Brokerage
304-640-8914
fax: 206-337-3753
[email protected]

 

[GreenSky]

Are competitive rates a concern for you or just strictly the ease of enrolling someone?

He's only concerned with recruiting and getting his advance as quickly as possible.

Rick

 

[sman]

I have no problem with someone recruiting nor getting advances (if that's how they want to get paid). What I do have a problem with is someone recommending a carrier solely on how easy they can enroll someone.

I don't know how competitive they are in his area, but they aren't competitive at all in the few areas I looked.

Update:

Just ran a quick quote comparison on Ritter's site for a city in West Virginia (where Jim lives), 5 carriers are cheaper than Loyal American.

He's only concerned with recruiting and getting his advance as quickly as possible.

Rick

 

[Frank Stastny]

I have no problem with someone recruiting nor getting advances (if that's how they want to get paid). What I do have a problem with is someone recommending a carrier solely on how easy they can enroll someone.

Spot on!

There are those who will say and do anything just to make a buck.

Is it little wonder that insurance agents in general have such a bad reputation? There needs to be a requirement for everyone applying for a license to have a conscience

 

[sman]

And which states would that be? As I stated above, they aren't competitive in West Virginia. I also checked Alabama, they aren't competitive there. So tell us where they are competitive.