MOO Persistency Requirements

[damadcrapper]

Rumor has it that MOO announced some new persistency measurements - they are allegedly requiring 91% for 3-month and 75% for 12-month or commission advances will be reduced to six months from nine. Has anyone seen the announcement or can you confirm?

 

[jdeasy]

Rumor has it that MOO announced some new persistency measurements - they are allegedly requiring 91% for 3-month and 75% for 12-month or commission advances will be reduced to six months from nine. Has anyone seen the announcement or can you confirm?

I saw that. Pretty low bar. If agents can't have over 90% at 3 months and over 75% at 12 they shouldn't be in the business. Much less getting advances.

Word is this is aimed at the call centers. But they haven't said that directly.

But it seems that even with low persistency an agent can still write them and get paid.

What would you expect from Mofo?

 

[Newby]

Rumor has it that MOO announced some new persistency measurements - they are allegedly requiring 91% for 3-month and 75% for 12-month or commission advances will be reduced to six months from nine. Has anyone seen the announcement or can you confirm?

Sounds like a smart move to me. Companies are smart to make it less desirable for the agents that can't keep persistency numbers up to keep going on that path.
Either fix what you are not doing well or move on. You have to respect that.

 

[damadcrapper]

Newby / Jdeasy - thanks for confirming what I suspected. I believe the bar is low as well. Agents that can't place cases and keep the on the books need to look for a new career or get some training. Conservation by the carriers, agents and IMOs is a lost art as well.