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vere76
Guest
Im a new P&C agent in Florida, Who needs some ideas on how to capitalize on State Farm pulling out Fl.
Thanks
Thanks
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- #2
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LynInDaytona
Guest
who are you working for that is still selling homeowners in Florida?
Chances are, this will be very hard to do in any large scale. Being new though, you can probably pick up a few dozen policies by getting out and getting known.
What you are up against (and I'm neither in Florida or a State Farm agent, so I'm reading long distance tea leaves):
- Hopefully State Farm will allow their agents to rewrite their clients into another company, rather than the agent losing the business entirely. Most clients have bought into the agent, and will trust the agent to do the right thing. Some will leave.
- If this doesn't happen, most decent size State Farm agents will introduce their clients to a friend of theirs that happens to be a P&C agent to write the house (agreeing to leave the cars and other things alone). These agents will obviously have agreed to allow the State Farm agent to have his clients back, if and when, State Farm returns to the state for homeowners. In addition, this other agent may be paying a 'finders fee'.
So, the moral to the story is to go meet with as many State Farm agents as you can, offer to help them rewrite their homes with you, agree to leave other existing business alone, offer them whatever you feel comfortable with, and see if you can get a few agents to write 'introductory' letters for you.
You will have to make it a win-win. Make sure there are reasonable time limits to everything.
Dan
What you are up against (and I'm neither in Florida or a State Farm agent, so I'm reading long distance tea leaves):
- Hopefully State Farm will allow their agents to rewrite their clients into another company, rather than the agent losing the business entirely. Most clients have bought into the agent, and will trust the agent to do the right thing. Some will leave.
- If this doesn't happen, most decent size State Farm agents will introduce their clients to a friend of theirs that happens to be a P&C agent to write the house (agreeing to leave the cars and other things alone). These agents will obviously have agreed to allow the State Farm agent to have his clients back, if and when, State Farm returns to the state for homeowners. In addition, this other agent may be paying a 'finders fee'.
So, the moral to the story is to go meet with as many State Farm agents as you can, offer to help them rewrite their homes with you, agree to leave other existing business alone, offer them whatever you feel comfortable with, and see if you can get a few agents to write 'introductory' letters for you.
You will have to make it a win-win. Make sure there are reasonable time limits to everything.
Dan
I would pull all over my old quotes to see who had listed prior insurance as State Farm. Call those people back and ask if you can re-quote them. Let them know that your company is still going strong and willing to accept all of their business!
Things like this usually tend to stir the market up in an area so you might start telemarketing too. People will consider getting quotes just because they are unsure of what their current company is going to do.
Things like this usually tend to stir the market up in an area so you might start telemarketing too. People will consider getting quotes just because they are unsure of what their current company is going to do.
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This is great advice. I know quite a few State Farm agents in Florida, so I can speak to them about it if you want? Are you able to write home insurance? I didn't think anyone was anymore!!?? Also, what area of FL are you in?
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- 183
Geographical confusion?
Haha, that probably looked confusing since I quoted DS, but I was actually asking the agent who posted the first comment in this thread who said he's in Florida.
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LynInDaytona
Guest
I'm still wondering who he's working for, I may be able to throw some business his way.
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He must be MIA, since it looks that is the only thing he's ever posted on this site?!?!
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LynInDaytona
Guest
Must be. I was curious though, here it is few and far between who is selling new policies. Oh you can GET a policy, I had just hoped maybe a few new faces were writing business.
