Something profitable you might want to try

[Shannon]

Re: Something profitable you might want to try!!

I'm interested in learning your process. I have a P&C license, and actually work in a small brokerage that deals exclusively with auto dealerships. I have a list of auto dealerships that is HUGE.

 

[InsuranceRus]

Re: Something profitable you might want to try!!

I have sent in a number of email requests to sign up, is the website still up and running?

 

[Mark]

Re: Something profitable you might want to try!!

There is a website called autowebapp.com. The site is "on the spot insurance" that is specifically targeted for car dealerships. You sign them up for free and they access the site (under their specific code). They then are able to place vehicles and drivers on their policy and insure their customers for 1 to 30 days with full coverage insurance. Allowing them to sell the vehicle and "Roll" the customer off of the lot within minutes.

This insurance type product has been approved by state insurance departments in 24 states. There is no E&O exposure because you are simply signing up the dealership to use this product presented by autowebapp.com.

After the dealership signs up for the product, they are able to insure the vehicle and customer, print the ID cards, take payment for the policy or get billed by autowebapp.com. Every time they do this - you are paid a commission based on the length of the policy.

I currently have 77 car dealerships that are signed up and have been paid commissions on over 300 applications in the last year. Once the dealership is yours, they are always yours. There are no charge backs and a copy of the electronic application is emailed to you instantly.

So, not only are you receiving commission on the dealerships work but also are obtaining a qualified lead of a potential client that just bought a vehicle and that will need to purchase their own policy within 1 to 30 days.

I had a 95% success ratio in obtaining the appointment with the dealerships during the initial call and a 100% closing ratio signing up the dealership decision maker at the appointment (no cost - no brainer).

Thanks for sharing this with us. I think you are on to something great. I wish I had a p&c Lic and I could do it. This is a great post and job well done.

 

[Shannon]

Re: Something profitable you might want to try!!

American National Property & Casualty is the UW.

These are the same E&O questions I had....
The dealership rep is not selling or advising the product but merely placing a vehicle and driver on the dealerships annual policy for a short period of time and covering their risk.

The dealership is also not under your license. You have just signed them up to participate in AutoWebbApps program. Any claims are processed by AWA and American National.

So, would you even need a P&C license to do this?

 

[warnerins]

Re: Something profitable you might want to try!!

Thanks for the response guys.

Shannon.. The process that I used was:

1. I got in the phone book and pulled up every dealership. When I called I asked for the Sales manager or General manager. I introduced myself to them and explained that I had a product that has been approved by the stae to allow them to insure their customers and print ID cards right from their computers with no waiting. At this point there was either exitement or silence on the phone.

2. I then asked them if I could fax them some information and got their fax number. The response was obviously overwhelming. I faxed the propoganda that was sent to me from Auto Web App. I called about 100 dealerships (this took me about 3 days).

3. When I had called and faxed my way through the whole state of NM, I called each of them back another time starting at the top of the list. This time I asked if they received my fax. I told them that I was going to be in their town, vicinity, pueblo or whatever next _______ and would it be ok for me to stop in.

The goal of the first call was to get a yes to them receiving my fax. The goal of the second call was just to see if they were going to be at the dealership on the day that would be convenient for me ( my office had a map on the wall of NM with pins all over it of the dealerships I had called) and I scheduled a 5 day road trip to go to each town and hit each dealership) in some logical order.

4. When I got to the dealerships I introduced myself and by this time my assistant had faxed a personal letter to the person that I was meeting with explaining the product in a more formal manner (plus the propoganda was faxed again)
It took about 10 minutes to log them on the website and get their free access code. I signed up 77 out of about 100
I am not sure if you even need a P&C license to do this. I don't know if Auto Web App ever asked me for mine.

insuranceRus:
Try this phone number if you are having problems getting a response by e-mail Barbara King at 1-800-452-7743

Alright people I've shared one of mine now give me one of yours

 

[Shannon]

Re: Something profitable you might want to try!!

Thanks! Unfortunately I am brand new so I have nothing to offer you back. I will keep my ears open though.

I can tell you that the workman's comp market for auto dealerships is FLOODED right now. My job last month was to call something like 200 dealerships, and just see if they would be interested in a quote. Most were annoyed with my call or I couldn't even get them on the phone... I only got about 12 bites, and management almost kissed me they were so pleased.

I have a full time job, but I am definitely going to try your method next week! Thanks again.

 

[warnerins]

Re: Something profitable you might want to try!!

Shannon,
One thing to keep in mind is that if you are working for an agency that primarily caters to the dealerships, If you sign the dealerships up for this product you may be taking away your managements niche market.

If your agency relies on dealerships for their target market, they may not need your services as desperatly as they did before. You will be allowing them to cut out the middle man to insure their customers and that middle man is YOUR AGENCY.

Just a thought....

 

[supermomagent007]

Re: Something profitable you might want to try!!

This sounds so great. I am very interested in this, I am a newbie P&C. Could you pm me privately ? I would love to get info. on how to do this. I am a newbie as well but hmm any good sales info that I found out I would gladly give you the info. Thanks so much

 

[warnerins]

Re: Something profitable you might want to try!!

Supermom,

All of the info is here. Please call the 800 number from a couple of posts up and Barbara will give you what you need.

 

[padthaiforlunch]

Great idea.

Now if I can just take the core concept and twist it for DI or life. Time to brainstorm.

Thanks for the seed!