P&C Agents Sell More Life Insurance

[ims01]

Would P&C agents sell more life insurance if they had an easy way of quoting and the life agency did the rest?

 

[FL P&C Broker]

Yes, but I want you to do all the work and I want above street commissions.

 

[ims01]

Yes, but I want you to do all the work and I want above street commissions.

Its good to start off your day with a chuckle.

 

[JimmyUt]

I have a indy P&C agent that wants me to call his book and sell them life insurance. I would imagine it would be as simple as picking up the phone and calling, but I am sure there is more to it than that. Any ideas how to make it work successfully??

 

[Guest]

I personally think life insurance factors in more with financial planning than P&C. I work with a FP who I send my clients to and he puts my name on the apps and we split the commission,

Pretty simple deal, I save someone $50 a month or more, I say, now call this guy to invest that money and they do, he goes over their plan and helps them and does the life insurance and i get my cut.

sweet deal

 

[ims01]

P&C agents have tons of clients and those folks are going somewhere else to get life insurance. If that life agent/agency also offers P&C they will try to get that too. So a P&C agent should not only use life for the big up front commission but also to defend their book.

The P&C agent has the relationship so it is best if they bring up the subject of life. They dont want to learn all about life insurance so a simple process is best and they can still make a good chunk of the commission.

 

[Guest]

so whats your point, you havent really said anything, your soliticing to other agents, i am NOT sending you my clients

 

[ims01]

so whats your point, you havent really said anything, your soliticing to other agents, i am NOT sending you my clients

A little pissy there this morning?

The point is a P&C agent using a simplified process can present and quote their clients and then send to a life agency who will do the rest. This way the P&C agent makes the contact, rather then sending their clients to somebody. All the case management, requirements, etc are handled by the life agency. The P&C agent can get 85/90% commission.

 

[VolAgent]

so whats your point, you havent really said anything, your soliticing to other agents, i am NOT sending you my clients

That in a nutshell is why these arrangements generally don't work. The P&C agent is looking at the renewals and is always afraid the client will be stolen. The typical life agent is really just interested in the first year's commission. And neither one gets the perspective of the other.

 

[ims01]

That in a nutshell is why these arrangements generally don't work. The P&C agent is looking at the renewals and is always afraid the client will be stolen. The typical life agent is really just interested in the first year's commission. And neither one gets the perspective of the other.

I agree. But, the renewals from P&C and the big upfront comm from life are a perfect match so it makes sense to find a way. So many P&C guys struggle in their first two-three years.

What I propose doesn't require "handing over" clients or having to learn an entire product line. We built a worksheet with all the questions needed. Then the P&C agent goes to a website that has a tool where they enter the answers and it tells them what class the client would get and it runs the quotes at that class on each carrier. Then just hit a button next to the quote for the app. Fill out the basics on the app and send to us. We do everything else. Based on the average premium the P&C agent would make $600-$700.