Not writing any health business. Whats happening?

Discussion in 'General Insurance Agent Discussions' started by Golddoor, Sep 25, 2006.

  1. Golddoor
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    Golddoor Guru

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    I have been doing B to B for health for the last two months and have allot of people that are interested and want quotes for group or individual and I have produced the quotes and either fax or emailed them, but then the people seem hard to get ahold of again and when I do they are like oh I cant afford it right now anyway, or I haven't had time to look at them, I will call you when I do. Then I never hear from them.

    They also are really interested when I am face to face and then turn into ass holes when I call them back after not hearing from them when I send the quotes.

    I have only wrote 2 apps since I started and those two cancelled when one of them got rated at standard because she was five pounds to heavy for her height. My plan that I got her approved under was still a 100.00 less than her current plan, yet she stll canceled the app. I think she took offense to it when I told her they rated her up because of her build. When I said that she just hung up on me and when I tried to call her back she wouldnt answer or would just hang up again. :x

    What am I doing wrong here? Any suggestions?
     
  2. Crabcake Johnny
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    I always quote people standard - always. If I think they're preferred I'll submit them with preferred rates and if they get it then it's a happy call. If not I never have to change the quote.

    B to B for two months and only two deals? You'll have to give me a lot more information and possibly log a week for me.

    How many businesses are you hitting? How many leads are you generating?

    It's also possible that you're not a phone guy. If not just set appointments with everyone.

    Here's the B to B math for me - it's almost down to a science:

    5% interested in getting a quote which is 20 businesses to get one quote. 25% closing ratio. So there's the math - I need 4 leads to get one deal which means 80 businesses.

    The rest depends on the area. I'm lucky in the Baltimore area since I can hit congested business areas and easily hit 30 places in an hour. That's just under 3 hours of B to B to get one deal - and a deal a day is where you want to be.
     
  3. MIBizInsurance
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    Aye, need more info.

    First, I believe when ever possible do presents in person. Very important when starting. Once you build your book/gain exp. then you may pull off the remote sell.

    Not a health guy but I would never fax or email a biz insurance present. The customer thinks "What the hell he/she can't take a minute to come out here and speak to me?"

    Plus, they will just take a quote and give it to current agent or even a competitor... :x

    Next, build a relationship with these people.

    If you just gather info. and drop off a quote (even worse, fax it) your going to have a tuff go.


    Gather the info.
    Tell them what to expect as a timeline.
    Thank you card/email/fax.
    Follow up with a call. Don't be a bother but keep in touch.

    You get the point.

    Activity and relationship building :!:
     
  4. Golddoor
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    Im hitting around 50-80 businesses per week and getting 5-10 leads out of it. But like I said they just are not producing. I wondered about the faxing and emailing thing but I hear allot of agents say that they do everything over email and fax and dont even get in front of the clients. I will try the setting an appointment idea and log my week and go from there. Thanks Guys!!
     
  5. MIBizInsurance
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    Sure John or an experienced agent will reply but for group quotes I would think an in person present is standard. At least preferred.

    Again your selling your self as much as the policy.
     
  6. Crabcake Johnny
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    First of all, I fully agree that brand new agents should set in-person appointments. Signing people up over the phone is for very experienced agents.

    50 to 80 businesses per week? That's zero to one deal. 5 to 10 leads for the week is by far not enough leads to work when you're new. You should be going into 80 to 100 businesses per day.

    Think of it like I do: it's all about what I make in a 40 hour work week. If you have to go B to B four hours a day 5 days a week to make $2,000 then who cares.

    My day started at 8am. I put up 500 doorhangers. At 11am I was B to B and stopped at around 2:30. Got home around 3pm and worked the leads I generated.

    Here's another tip when you're new - make Monday and Tuesday pure marketing days. All day every day Monday and Tuesday should be nothing but marketing. If it's 8 hours of B to B then so be it.

    When you're brand new and you don't have a client base 90% of your time is marketing. As you get established marketing will be less and less of your time. Signing people up doesn't take much time at all. I can do an app online in 15 minutes and even a sit down presentation is 30 minutes.
     
  7. supergirl
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    Put doorhangers where? I thought you did not do residential.


    Were those the only days you went walkin' and talkin'?
     
  8. NHB_MMA
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    Golddoor, I don't know what's happening, but things should definitely be better than they are going for you. If you were a totally new agent, I could say maybe you just don't have it, but that's not the case. Now, I'm just getting back into the game after an eight year absence from a relatively unsuccessful go at it, so I don't have great expertise but some things do come to mind.

    1. As John said, you need more leads. Shoot to talk to 250 people per week, IMHO.

    2. Do as much business as possible in person. Work an area thoroughly, then move onto to something nearby so you're never too far from where you've recently been and it won't be a terrible inconvenience to break from your B2B and go see someone/deliver info. Don't call these people up with their quotes...if that's not working for you, but instead say "I'll print out some information and swing by, probably on Tuesday afternoon" then follow through.

    3. How's your closing skills? Any hang-ups in that area?
     
  9. moonlightandmargaritas
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    I write about 150 individual health cases per year. Here's a couple of observations and tips for you.

    People have to be more than 'interested'. There's no commitment in 'interested'. You'll end up doing a lot of quotes, then chasing them and not writing much business. You have to qualify them more thoroughly. Ask, "Under what circumstances would you make a switch?", and "If I can meet whatever conditions you have, will you apply?"

    If you can't get these commitments, you're wasting your time, and should move on. Likewise, don't waste your time with people who have no current health insurance, they are VERY low probability prospects.

    It's a whole lot more than finding interested people, producing a quote, and making a follow-up call. Good luck!
     
  10. Tim Eubanks
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    Good post
     
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