The End of Agents? Over 60% of small business owners choose online business insurance

[somarco]

Agree

Are you agreeing that I have been around forever?

adapt to change.

Truer words never spoken. Can't tell you how many times I have reinvented myself through the years.

My first job out of college was setting up small business DB pension plans . . . that market disappeared shortly afterward

 

[StephanieCJ]

If you are doing telesales, then I can see why this might feel like a threat. My primary method of conducting sales is face-to-face (except when someone at a significant distance is referred to me). Maybe its my location, but people like to put a face with their insurance agent. There are a lot of people who feel more confident about their decisions if they feel like they have a partner in the process. I impress on them that they are able to call me when questions or problems arise, which they don't have if they sign up directly. Having a direct line of access for help with problems is a huge selling point over navigating things on your own.

 

[somarco]

If you are doing telesales, then I can see why this might feel like a threat

Telesales agents in call centers generally have no real sales skills, know very little about the product beyond the 1 week training about how to read a computer screen, and have no clue how the plans work.

 

[EckoRomeo]

From the article:

" NEXT research has repeatedly found that small business owners don't know enough about their small business insurance needs and lack the coverage they require.

We found previously that 90% of small business owners lack confidence in their insurance adequacy. And 96% of owners failed to demonstrate a basic understanding of general liability insurance, one of the most common policies sought after by those who own a business."

I find that it is easier to close t65's who have already done some research because they are usually confused and overwhelmed by their options. I frequently run into prospects who already knew the plan they want and are prepared to self-enroll. Many times their choice was very well-researched and suitable. I congratulate them on their decision and the thoroughness of their research. Then I ask them if they want to do that EVERY YEAR for the rest of their lives, or would they rather have a professional, who deals with this stuff every day 365 days a year, assist them with it at no cost? They usually prefer to have an agent.

It's MUCH easier to steal business from the internet than to steal a client already working with another agent. Most of my AEP business is beneficiaries who initially self-enrolled in their current plan.

 

[DonP]

I replace an avg of 20-30 sold over the phone plans every month face to face . It's like taking candy from a baby . In a crazy impersonal world face to face rocks still

 

[marindependent]

Are you agreeing that I have been around forever?

Ha! Woops Sorry. I was agreeing with this quote you made "DIY has been around forever and I don't feel threatened."