- 7,790
Geez.....I'll bet tinyspell would have caught that repeated word!
SELLING INSURANCE ONLINE
- Thread starter joshril
- Start date
- 1,432
I sell about 200 policies a year without meeting with clients. 99% of my new clients find me on the Internet or were referred by people who found me on the Internet.
I used to take a lot of applications over the phone and type them into the online applications. However, that made it hard to manage my time. I would constantly get interrupted by incoming phone calls.
Today most of my clients download and print out their applications from my website. A few need me to email, fax or snail mail the application. I ask my clients to fax me their applications for proofing before mailing them in. This has not been met with much resistance. By the time we get to the point where they have decided to submit an application, they are pretty committed to working with me and most have ready access to a fax machine. The few that don't have a fax machine at work or at home will go to store like Staples and send me the application. Only a few mail them in without talking to me.
I review the faxed applications and call them back with suggested corrections. They almost always leave something out like a date or a doctor's name. Some disclose information that they hadn't shared with me before and sometimes I advise that we do a pre-screen or apply with a different company.
I was trained to stay in control of the process and taking the application by phone seemed to put me in more control. However I get nearly 100% follow through when I ask that the application be mailed in. I do mostly individual health insurance. This statistic might be different if I sold another line.
One of the applications I use asks if the agent saw the client face-to-face. I just write in "No. Agent assisted client with application by phone" and I've never had it questioned.
Tip: Use old school AND new school techniques synergistically
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Direct mail and email will improve your closing ratio. Email is fine, but it won't set you apart and it may not even reach your prospect. People have spam filters now, they also often enter bogus phone numbers and email addresses on their online questionnaires. The mailing address is usually accurate. Send each person who visits your website something in the mail. The first thing prospects get from us is printed quotes. The second is a HANDWRITTEN card letting them know that there is a real person behind the website who wants to answer their questions and give them good service. After that they get postcards and email. We continue following up for six months.
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I used to take a lot of applications over the phone and type them into the online applications. However, that made it hard to manage my time. I would constantly get interrupted by incoming phone calls.
Today most of my clients download and print out their applications from my website. A few need me to email, fax or snail mail the application. I ask my clients to fax me their applications for proofing before mailing them in. This has not been met with much resistance. By the time we get to the point where they have decided to submit an application, they are pretty committed to working with me and most have ready access to a fax machine. The few that don't have a fax machine at work or at home will go to store like Staples and send me the application. Only a few mail them in without talking to me.
I review the faxed applications and call them back with suggested corrections. They almost always leave something out like a date or a doctor's name. Some disclose information that they hadn't shared with me before and sometimes I advise that we do a pre-screen or apply with a different company.
I was trained to stay in control of the process and taking the application by phone seemed to put me in more control. However I get nearly 100% follow through when I ask that the application be mailed in. I do mostly individual health insurance. This statistic might be different if I sold another line.
One of the applications I use asks if the agent saw the client face-to-face. I just write in "No. Agent assisted client with application by phone" and I've never had it questioned.
Tip: Use old school AND new school techniques synergistically
--------------------------------------------
Direct mail and email will improve your closing ratio. Email is fine, but it won't set you apart and it may not even reach your prospect. People have spam filters now, they also often enter bogus phone numbers and email addresses on their online questionnaires. The mailing address is usually accurate. Send each person who visits your website something in the mail. The first thing prospects get from us is printed quotes. The second is a HANDWRITTEN card letting them know that there is a real person behind the website who wants to answer their questions and give them good service. After that they get postcards and email. We continue following up for six months.
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- 10,276
"However I get nearly 100% follow through when I ask that the application be mailed in"
I have to admit...that is fantastic. Based on my 27 years experience and others I talk to...our numbers are much lower.
I have to admit...that is fantastic. Based on my 27 years experience and others I talk to...our numbers are much lower.
- 1,432
The near 100% figure is not my overall closing ratio. The client is pretty deep into the process at the point where I ask them to mail their application.
They have requested quotes from me. They have received emails and snail mails from me. They have talked (or emailed) with me several times to help them decide which plan to purchase. If necessary, I have pre-screened their application medically and reported back to them with recommendations. They have faxed me the application for proofing.
I'm an underwear agent, but I do everything I can to establish rapport including sending handwritten notes to my clients. Usually the client is committed to having me as their agent by the time I ask them to mail their application.
- 307
I can second Alston's approach. I have a very similar business approach and also do 200+ per year.
Some of our carriers will take faxed applications and some need the written forms. One carrier in particular (called Connecticare) requires that forms be filled out by the customer and not the agent.
I find that customers are more than happy to send in or fax in applications. They are indeed well into the process after phone consultations and discussions. They are more likely to work with an agent in this fashion if the carrier is a bigger name company such as Blue Cross, Aetna, etc. If you take the time to speak with customers long enough on the phone, they prefer to work in this way as well.
Some of our carriers will take faxed applications and some need the written forms. One carrier in particular (called Connecticare) requires that forms be filled out by the customer and not the agent.
I find that customers are more than happy to send in or fax in applications. They are indeed well into the process after phone consultations and discussions. They are more likely to work with an agent in this fashion if the carrier is a bigger name company such as Blue Cross, Aetna, etc. If you take the time to speak with customers long enough on the phone, they prefer to work in this way as well.
- 134
Good to hear that we can close deals over the phone...
M
Macdaddy
Guest
So, do you also assist the clients by taking applications online or is fax and snail mail the primary methods?
Here in KY, Humana is very competitive and will allow a "warm" transfer to one of their service reps who will then spend the next 30-45 minutes on the phone taking a tele app and have a system in place for tele signatures as well. I have not used it yet, but my rep tells me the most successful Humana agents use it.
They do have a check list of items they need the customer to have ready before the call is made.
Thoughts or experience with this method?
- 307
Macdaddy,
Humana is not in my market for individual health. I am licensed with them im FL and CO but have not done any cases with them. The warm transfer will save you time and you may want to take advantage of that. One of their reps tried to explain the process to me when I was thinking of doing more FL and CO cases but it was unclear how I was to transfer the customer without hanging them up.
For me, with some carriers like Anthem BC/BS, Aetna and a quality local carrier called Connecticare, I do either mail or fax filled out by the client. However, I do guide them over the phone with any questions they have when filling out the pages. For Assurant, I use the EASE System and with Golden Rule I use the Broker Assisted application through E-Store. With Assurant and Golden Rule, I prefer to be more hands-on despite the extra time it takes.
So, in short, its carrier specific.
Humana is not in my market for individual health. I am licensed with them im FL and CO but have not done any cases with them. The warm transfer will save you time and you may want to take advantage of that. One of their reps tried to explain the process to me when I was thinking of doing more FL and CO cases but it was unclear how I was to transfer the customer without hanging them up.
For me, with some carriers like Anthem BC/BS, Aetna and a quality local carrier called Connecticare, I do either mail or fax filled out by the client. However, I do guide them over the phone with any questions they have when filling out the pages. For Assurant, I use the EASE System and with Golden Rule I use the Broker Assisted application through E-Store. With Assurant and Golden Rule, I prefer to be more hands-on despite the extra time it takes.
So, in short, its carrier specific.
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