Selling small group (2 to 9) via internet/telephone

With a 100 groups at that size your looking at about $200,000+

Maybe I need to move, cause here it's $115,000.



Most of my commissions are coming from a per head rate. So with small groups around 5 lives you actually can make more money than the %. Here we have certain levels where your per head commissions go up depending on how much business you have with the carrier.
 
I work mostly with large groups, but I'll test the small group market with the phoning approach. Why not?

Small groups can be a pain in the neck but once you build up a good base your less likley to loose them. Then if you do loose one it only represents 2% of your commission on the small block.

I know a lot of brokers in large group one case can represent 12%-15% of their commission or more.

Don't get me wrong I want all the business I can get. Large, small, Individual I will not walk a way from anything.
 
brokers in large group one case can represent 12%-15% of their commission

I had a block a few years ago that was 30% of my income . . . and I was doing very well thank you . . . at least until that block started to deterioriate.
 
I had a block a few years ago that was 30% of my income . . . and I was doing very well thank you . . . at least until that block started to deterioriate.

I was not trying to offended you , if I did I do apologize.

Why did it deteriorate?
 
I was not offended. Stuff happens. It was a good ride while it lasted.

This was back in my stop loss days, earning overrides off business placed with TPA's. A TPA I had known for years, and never did a dime of business got pissed at Safeco and wanted to move everything.

I negotiated a block transfer on all his January business (and we picked up some cases later in the year as well). That block paid me $5k/mo in overrides for 3 years straight. Then he started to lose some of the cases, the stop loss market shifted. I continued to earn off him for close to 10 years before it finally all went away.
 
Just got off the phone with a small business client and the sales rep for the insurance company. There were some time issues in processing claims, and the client needed to vent.

She was actually very nice about it.

At the end of the conference call, the client told the rep, "I appreciate your time, and I just wanted to let you know that our agent, Bob Levine, does an absolute wonderful job."

She didn't have to say it, but it was nice to hear.

I immediately went online, and am having a $25 gift card sent to her (she's in another town).

If you treat these small business owners like family, they will stay with you, like family. (whether that's good or bad is yet to be seen)
;)
 
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