Referrals

[Crabcake Johnny]

Most of my referrals come after I send the policy, then call to go over everything - make sure they got the policy and cards - go over the network and show them how to do searches. Then I go over landmines like staying in network for scheduled procedures and what to do when out of network.

Everyone please remember that one of your client's largest fears is they're getting slammed into something that they'll regret later. That fear subsides when you stay in constant contact with them and the fear disappears once I tell them they're on my E-newletter list and they'll get monthy newletters from me. Most people aren't gonna sell you a sub-standard product then stay in contact with you.

In fact, one of my closing tecniques is asking people's permission for me to include them in my monthly newsletter.

There's just not a shot in hell you'll be getting a lot of referrals until your client sees for themself that you're the real deal. And heaven forbid you're not the real deal and they've referred people to you because guess what happens when they get pissed?

 

[Angelp]

I just convinced a buddy of mine, who is a mortgage broker, to let me have a list of his clients to sell to. I sold him on the notion that this would give him a chance to revisit old clients and an opportunity to refi some of his old loans.

When I first approached him I figured I could offer mortgage insurance to get my foot in the door, however, the list he gave me is only of 25 of his clients as a trial run (I don't blame him). I don't want to screw up this opportunity so my question is: should I proceed with my initial idea or, as I have been adviced on the telemarketing B2B thread, should I offer a free review?

 

[Crabcake Johnny]

I would proceed with caution. If you're just gonna start calling these people you'll be hit with "and how did you get my number?" When you say "Oh, I'm friends with" or "I'm working with" your mortgage broker that could open a can of worms.

Even when one of my client's says "you should call my brother - here's his number" I always require they call first to let them know I'll be calling.

What I think your buddy should do is send a mailing announcing that he's teamed up with you and they'll be contacted shortly to see if you can help with their insurance needs.

 

[djs]

I completely agree. The mortgage broker should send a letter of introduction, prior to you contacting any of his clients. You should pay for the letter to be sent out.

Also, keep in mind, you will still have to comply with the do not call list. If any of his clients are on the list, you cannot call them even though he referred you.

Dan

 

[Guest]

Hello! I'm a new insurance agent. I was just wondering if anyone has any good referral stories. Also, do you ask for referrals on every appointment, and if not what is it that makes you not ask?

 

[Insuranti.com/south]

I have a lady that I got a lead on. The company is usually really good at getting them to me real time. This lady actually purchased a policy the night before I rcvd the lead. We spent about an hour on the phone discussing her coverage and just BS'ing. I truly could not get her off the phone. The conversation changed to Life and Burial Expense. She was stuck with the bills for two funerals within the last 8 months. She forced her brother to purchase health and BE from me as well as 5 other BE policies for her family as well as 2 Life policies in excess of 200K.
I haven't alway asked for the referral or worked the cross sale but I will in the future!

 

[dgoldenz]

I just did a health app today on a lead I got last week (for free through Prospect Zone no less). I called him at 9 am sharp the day the lead came in (it came in around 5 am since I forgot to shut off my filters). He asked who I was, explained that I am an independent agent and my job is to work on his behalf instead of selling for a single company.....he likes that idea, says he'll call me back later that day to discuss. Usually when someone says they'll call you back, you know where that's going. To my surprise, he called me around 5 pm and I went through all the pre-qualifying info and laid out the options between what he's eligible for on COBRA next month, what a similar plan will cost him on the individual market, and how much he can save with the HSA policy instead. Sounds good he says. Send him the information, says he wants to do a little more research, calls me back a couple times with some questions which I answer, calls me today saying he wants to do the application.

So, we do the application and as we're finishing up he thanks me for being extremely professional and tells me that he got calls from 6 or 7 other agents, but thought I was honest and up front with him and chose to give me his business. Talk with him a bit about casual stuff, turns out he's retiring end of the month (at 50 years old too) and was the executive vice president of a company that employs somewhere north of 5,000 employees. He asked if I would mind him giving my name to some of his friends/co-workers who will be in the same situation in the near future......of course. Who knows what may come out of this, maybe a few more health apps, maybe some monster life insurance cases, we'll just have to find out, but it's always a good feeling.

 

[ajp76054]

Well you always want to ask but I guess if you had a bad experience with getting someone signed up I might wait on them but never feel like you cant ask for a referral.

 

[ABC]

Good topic
I ask after the policy is approved.

 

[Todd King]

I just want to point out that when you're asking for referrals, you should never ask it in a broad way. In other words, don't just ask, "do you know anybody...". You should narrow it down to something like...."do you know anyone you go to church with..." or "do you know anyone at the club you go to...". Find out what they do and go from there.
If you ask them in a broad way, it gives them the whole world to think about and chances are they can't think of anyone because they are thinking of too many at once.
You are just helping them think of someone if you narrow it down a bit for them.
I hope this helps.