My personal experience with Aflac

[James]

Re: Getting started with Aflac - my problem or Aflac's

I don't do Colonial full-time. It's a long sales cycle in my area and also because Aflac's superior marketing is killing us... and the Colonial management doesn't 'get it.' Aflac has 'scoured and soured' the market out here so calling on accounts can be problematic... no one has heard of Colonial or they were "burned" by having bad service by Aflac because of their huge turnover.
Al

No Al, you don't get it. Colonial like others are seeking to position themselves via Brokers, that already have a book to simply transfer their clients on Colonial business that they don't offer themselves. Basically a big plus for both, while they will use agents, this is not where they are spending their money. One reason is that most agents that are serious about getting into "Worker Benefits" want to own their book, which is not possible with Colonial. Now I still like them, but you have to understand that they have little need for you or me in their main business model.

If one really wants to get into Voluntary Benefits and owning their own business, companies like Conseco could really be beneficial. Now I know some don't like Conseco products, wouldn't totally disagree. Yet they do offer third party management placement, that the agent can tap into and use themselves.

I swear. It seems everyone and their dog has a problem with Aflac. Agents, clients, policy owners... I don't know how they stay in business.

I don't know about that, last I heard their business was up by over 10% last year and expecting another good year to report. They must be doing something right outside of their commercials?

 

[Guest]

Re: Getting started with Aflac - my problem or Aflac's

No Al, you don't get it. Colonial like others are seeking to position themselves via Brokers, that already have a book to simply transfer their clients on Colonial business that they don't offer themselves. Basically a big plus for both, while they will use agents, this is not where they are spending their money. One reason is that most agents that are serious about getting into "Worker Benefits" want to own their book, which is not possible with Colonial. Now I still like them, but you have to understand that they have little need for you or me in their main business model.

I do a fair amount of business with brokers... I'd like to do more. The problem with the model is that many brokers are 'afraid' to open their book to outsiders like Colonial agents. Once you can convince a broker to give it a try with a small client and they see how then can make a nice commission for basically making a phone call, they open up the rest of their book.

Another problem is that many brokers simply become Colonial agents and add worksite benefits to their bag of 'tricks.'

I disagree that Colonial (or Aflac) wants to only appeal to brokers but I would not discount it entirely.

I see Aflac going direct to the consumer. They are changing their "Ask about it at work" message to "Go to our website." Colonial says they have no interest in going direct.

For a company you say has no or little use for me, they sure treat me rather well!! But time will tell. I've only been writing their stuff for a little over a year now. But I see the market getting bigger not smaller for worksite. However lots of big (better?) players are coming in... AIG, Allstate, TransA., etc.) I'm not sure Colonial will be able to compete with these big guns.

Al

 

[James]

Re: Getting started with Aflac - my problem or Aflac's

Another problem is that many brokers simply become Colonial agents and add worksite benefits to their bag of 'tricks.'Al

Bingo, they will always be of this mindset, IMHO. Why advertise when you simply put forth a "Ease" of business with existing businesses as in Brokers. I'm sure Colonial will fair well as long as they can keep up service to their clients, something most give lip service, but no real meat behind it.

 

[kamp]

Re: Getting started with Aflac - my problem or Aflac's

I'd consider working with another company similar to Aflac. . as Aflac accounts are easy targets to rollout their business.

Agents come and go, RSC's and SSC continually lie to their agents. Keep in mind, that the accounts are not yours, they're Aflac's. They can reassign them anytime they want. And just wait until you have another agent go into one of your accounts and write business. . and then watch as your SSC refuses to reverse the business (in fear of creating a chargeback on a new agent who was taken into your account by another DSC).

Also, keep in mind Aflac's rising loss ratios (nearing 75%). Claims that used to get paid continually are getting denied. I've been with them for 7 years. . and it couldn't be any worse. From prospecting (don't worry, every business has been called and you'll hear that or they hate your guts from a previous bad experience) to claims paying (used to be within 2-3 days) to customer service to your above management.

Not everyone is bad. . however, I earned a lot of experience with them. But it may be time for me to move on.

 

[gradyinsurance]

Re: Getting started with Aflac - my problem or Aflac's

Aflac is like AARP and Woodman of the World. They focus more on consumer marketing than anything else, particularly product substance. It's almost like all of the drug ads, which lead people to go to the doctor and ask for that more expensive, possibly less effective med. Same thing with the "name-brand" ins. co's, when they come to you and ask for Aflac or whatever. They want a "name they can trust" even when that particular company's product line is not very competitive. Just my 2 cents worth.

Dave

 

[Martian]

Re: Getting started with Aflac - my problem or Aflac's

I've compared Aflac's products against our main competitors and Aflac has them beat on many plans. Aflac's cancer plan kills American Heritage, and the payout on the accident plans are the best of it's competitors. I have also sold Aflac plans to people who had competing products and gave them a lot more for almost half the price.

I've seen the 3 day turn around on almost all claims I seen go in, and those that didn't usually had an issue that needed to be fixed such as missing doctor information, or no receipt for dental claims.

I've seen agents booted for writing business in other peoples accounts without permission, and I've seen them pay wellness claims over 5 years old. That's just since May.

They have top notch products and customer service in the home office, it's just the field service management and the training problems I see as the biggest issue here.

 

[Ins155]

Working for Aflac?

What do you guys think about working for Aflac? Don't know if its good or bad thats why I'd like your opinions.

 

[STIBROKER]

Re: Working for Aflac?

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[Crabcake Johnny]

Re: Working for Aflac?

I'll qualify this with I've never worked for them, however I used to have a few agents with me who worked for them and just got finished talking to an agent who dove out about a month ago. This is 3rd party info so take it with a grain of salt:

*More interested in recruiting then selling. They can't wait to make you a manager and turn your focus into hiring more agents.

*Territory in my area is burnt to the crisp. No records have been kept as to which business have been hit and often as a rep you cold-call on a business that's been pitched 2, 5, 8 times before. Owners are less than thrilled.

*Mainly signing up hourly workers and charge backs are high as they quit, are terminated or simply decide they don't want the money coming out of their check anymore.

*Most companies who are into the voluntary market already have an agency or agent they work with. Pickings are slim for finding a company without a current rep but are also interesting their employees additional benefits.

Like most things in sales the income is gross exaggerated. While I'm sure an agent can make very good money with Aflac as their sole income source it would require a ton of cold calling and a ton of hours.

 

[moonlightandmargaritas]

Re: Working for Aflac?

What do you guys think about working for Aflac? Don't know if its good or bad thats why I'd like your opinions.

I could never figure out how any producer could make any money with them.

Tiny premiums = Tiny commissions...

Do you have to have a group of 200+ to make any gidas?