Referral Program

[nyc2phi]

I'm looking to network with realtors, mortgage reps, credit unions for more personal lines business.

Does anyone have a good proceedure as to how to go about this? Are you stopping in, cold calling and setting an appointment, or anything else?

How do you get these people to refer you business on a consistant basis?

What are some scripts you have in place for you first point of contact with these professionals ?

Thanks in advance

 

[lachjs789]

Of those groups you mentioned I would pursue P&C shops first. They are more inclined than the others to consider selling life insurance and they typically have a decent rapport with their clients, especially business owner clients if they write professional lines as well.

The two big stumbling blocks P&C producers have is first, their fear of disturbing current client relationships if the life underwriting goes south and secondly devoting time to a product line they have little interest in learning. You can position yourself favorbly by convincing the P&C producer that you will manage client expectations upfront while making the sales process as easy as possible on them so they are not distracted from their core business.

The trick is having them open their book of business to you. One of the best ways to do this is to offer something of value to them first. Bring them a few referrals from your own clientele. This builds credibility and helps them see a potential business relationship with you as a a win-win for both.

 

[FL P&C Broker]

The best result I have gotten are from soliciting brokers and real estate agents my customers are already working with. Every time I finish up a file and send it over to the loan officer I tell him or her that I can write policies anywhere in the state and would be happy to work on any quotes for any of their files.

 

[VolAgent]

Of those groups you mentioned I would pursue P&C shops first. They are more inclined than the others to consider selling life insurance and they typically have a decent rapport with their clients, especially business owner clients if they write professional lines as well.

The two big stumbling blocks P&C producers have is first, their fear of disturbing current client relationships if the life underwriting goes south and secondly devoting time to a product line they have little interest in learning. You can position yourself favorbly by convincing the P&C producer that you will manage client expectations upfront while making the sales process as easy as possible on them so they are not distracted from their core business.

The trick is having them open their book of business to you. One of the best ways to do this is to offer something of value to them first. Bring them a few referrals from your own clientele. This builds credibility and helps them see a potential business relationship with you as a a win-win for both.

I'm curious, did you even read the original post, or did you just slap this up?

He asked about personal lines, not life.

 

[iiinycboi]

I've already networked with mortgage brokers, real estate lawyers, other p&c, real estate brokers, bodyshops, etc.... I basically just went in said i was in the area and gave them my card and told them what i did.

When they asked me how can they help, i was just very straight forward and asked maybe we can refer each other clients and if it works out for the both of us we can continue a long time relationship.

Most of the guys will test you out and send one or two and see how well you handle their clients.

 

[moonlightandmargaritas]

The trick is having them open their book of business to you.

No sh*t?

One of the best ways to do this is to offer something of value to them first.

A $5 Starbucks card?

Bring them a few referrals from your own clientele. This builds credibility and helps them see a potential business relationship with you as a a win-win for both.

Howard, I'm sure you're a good guy, but your "advice" is regurgitated crap that's been around for over 50 years. Don't suppose you have any new thinking for the board?

 

[lachjs789]

No sh*t?
A $5 Starbucks card?
Howard, I'm sure you're a good guy, but your "advice" is regurgitated crap that's been around for over 50 years. Don't suppose you have any new thinking for the board?

You've been a member of this forum for 6 years. You have over 7800 posts and only 78 threads were started by you. Not exactly sticking your neck out are you. Why so angry?
- - - - - - - - - - - - - - - - - -

I'm curious, did you even read the original post, or did you just slap this up?

He asked about personal lines, not life.

Yep! Totally misread the last line. I thought he was also seeking referrals from personal lines producers rather than referring to himself. Need to slow down. Thanks for pointing that out.

 

[Bertolinoins]

I have a PL producer working with Recamp. She just started but it seems like a program that will work.

 

[nyc2phi]

Thanks everyone !

Recamp might be out of the price range, but I will look into it more.

I recently found out referal fees are illegal to give to mortgage brokers in my state so that idea went out to the window.

 

[VolAgent]

Thanks everyone !

Recamp might be out of the price range, but I will look into it more.

I recently found out referal fees are illegal to give to mortgage brokers in my state so that idea went out to the window.

You never have lunch with business friends or enjoy a sporting event together?