Sprout life insurance ?

[Ksutton]

Anyone have any more info on sprout? Seems like an Ethos - anyone know the pros / cons of them?

 

[jdeasy]

Looks like any other internet insurance gimmick. I tried to get a quote for myself and it wouldn't quote whole life. Only a 10 year term.

 

[Ksutton]

Looks like any other internet insurance gimmick. I tried to get a quote for myself and it wouldn't quote whole life. Only a 10 year term.

Apparently they use the same setup and carriers as Ethos/CUNA? There has to be a catch or something else... I know with Ethos their SIWL does not pay renewals... Im curios to see what's going on... Between this, plum and whatever else Is popping up ... it's getting wild out there !

 

[Ksutton]

So I spoke with one of their reps, Aaron. Super nice guy - they start everyone as earned (it’s possible get an advance after some proven business). They have SBLI term and ethos term products - they also have some SIWL. They have a super easy agent platform and clients can apply on their own - any lapse in cover in first 6 months is full Chargeback - and lapse in coverage In The first year is 50% chargeback.
Im sure im missing some details but those chargeback rules are agent killers, especially for Final expense . No true SS billing.

my two cents … may be good for warm market just because of the ease of quoting and sharing the quote. I don’t see them as anything to get excited about.

 

[WinoBlues]

So I spoke with one of their reps, Aaron. Super nice guy - they start everyone as earned (it’s possible get an advance after some proven business). They have SBLI term and ethos term products - they also have some SIWL. They have a super easy agent platform and clients can apply on their own - any lapse in cover in first 6 months is full Chargeback - and lapse in coverage In The first year is 50% chargeback.
Im sure im missing some details but those chargeback rules are agent killers, especially for Final expense . No true SS billing.

my two cents … may be good for warm market just because of the ease of quoting and sharing the quote. I don’t see them as anything to get excited about.

Are they drop ticket for term, GUL, SIWL?

 

[Ksutton]

Are they drop ticket for term, GUL, SIWL?

They do have a back office - can be instant decision - they use banner for their fully underwritten… so I’m not really sure if that helps answer the question.

 

[Tahoe Ray]

They do have a back office - can be instant decision - they use banner for their fully underwritten… so I’m not really sure if that helps answer the question.

There are a zillion of these companies. Plum, Bestow, Ethos, Haven, Breeze, etc.

Almost all of them contract agents. You will normally get a reduced comp but for term (where you don't care about renewals), several of them are really fair for taking everything off your plate.

I mainly write DI but these internet company relationships are great for non-responders who have asked for quotes via the internet.

We'll make phone calls/emails/texts to prospects and if they don't respond, start sending the DIY links. You'll need volume to make any money but it's a net positive on applications vs lead cost.

I honestly don't think this would work in the traditional FE market though (from what I've heard from friends who work that market and from what I've learned in this forum).

It does work for people who respond to emails in general though.

 

[jdeasy]

My take on this stuff is a little different than most. I’m not looking for an IMO. I guess it’s possible there’s a better IMO for me out there but I don’t think there is. So I’m not seeking a change.

I have all the products and companies I need. Really more than I need.

But I look at new stuff that comes along. If it looks like something I want to add I tell Scott and Travis to look at it.

If they don’t want to add it then I forget about it.

I’m not picking something up outside of FEX.

 

[Tahoe Ray]

My take on this stuff is a little different than most. I’m not looking for an IMO. I guess it’s possible there’s a better IMO for me out there but I don’t think there is. So I’m not seeking a change.

I have all the products and companies I need. Really more than I need.

But I look at new stuff that comes along. If it looks like something I want to add I tell Scott and Travis to look at it.

If they don’t want to add it then I forget about it.

I’m not picking something up outside of FEX.

None of these "companies" are IMOs outside of someone like PolicyGenius.

Most are one trick ponies. They have a small place for non responders but unless you have a tremendous amount of leads, they're largely just filler opportunities.

I do like what I've seen from a few of these online companies and the process is really easy. The main question is driving the right customer to them.

 

[jdeasy]

None of these "companies" are IMOs outside of someone like PolicyGenius.

Most are one trick ponies. They have a small place for non responders but unless you have a tremendous amount of leads, they're largely just filler opportunities.

I do like what I've seen from a few of these online companies and the process is really easy. The main question is driving the right customer to them.

There’s people I can’t place. I just send them to Matt Schmidt.

no problem.