TaxFreeIncome
Expert
- 97
Has anyone read this article? This agent qualifies for MDRT and didn't meet a single client. You can read the article here
The salesman who doesn
The salesman who doesn
The Salesman Who Doesn't Sell
- Thread starter TaxFreeIncome
- Start date
- 11,451
It's a good article. My only problem is this: If you remove the agent from the equation, then what's going to stop carriers from cutting the agent out and just doing it all themselves?
The question here is not that he made the MDRT but what did he earn in net profit after all of his expenses. This approach is no different then Metlife selling life insurance through Walmart. I do not see this approach as ever being successful on a massive scale because the truth is that most "life insurance is not bought it is sold."
- Thread starter
- #4
TaxFreeIncome
Expert
- 97
The article says he has sold 1400 policies over the last 3 years. Let's just say the premium averaged $50 / month or $600 a year. That is $840,000 in premium.
----------
It is pretty obvious that the concept is successful. 1400 people thought so in the last 3 years. Life insurance is not bought it is sold? That is old time thinking. Mr. Greenberg got sick of selling and the rejection. Mr. Greenberg makes money even when he is sleeping. He doesn't have to put up with traffic, dirty/stinky houses, house pets, high cost of fuel. This guy is just smart.
----------
It is pretty obvious that the concept is successful. 1400 people thought so in the last 3 years. Life insurance is not bought it is sold? That is old time thinking. Mr. Greenberg got sick of selling and the rejection. Mr. Greenberg makes money even when he is sleeping. He doesn't have to put up with traffic, dirty/stinky houses, house pets, high cost of fuel. This guy is just smart.
- 9,744
Looks like it already is successful! As the article suggests, maybe "conventional wisdom" is not so conventional any more...
"Looks like" but what does he spend to drive traffic to the website. My understanding is that outfits like Select Quote have never been real profitable. I do not know if that us correct or not. If one can truly sell significant amounts of life insurance without an agent then what will stop the companies from copying this apporach and taking this market over? I would think they would do it so fast that it would make your head swim.
- 930
I've placed over 3000 policies in the past 6 years without meeting a single client. I don't say this to brag, I say this to let you know it can be done. I know dozens of other MDRT qualified agents that do the same.
To say that "life insurance is not bought, it's sold" is old school. We're in a different era where technology is shifting the way life insurance is purchased. Our websites receive "application requests" daily and receive phone calls of people wanting to apply - no selling involved, just qualifying. With that said, more f2f sales are made than online sales according to LIMRA, but the gap is getting thinner every year.
xrac: Why don't insurers take this market over? They try. Life insurance terms are some of the most expensive Google adwords search terms because of their deep pockets. Agents can't compete there. Same with search engine results for the most searched terms like "life insurance quotes". Also, many life insurance companies have their own call centers. Life insurance companies are definitely trying, but there's way too many prospects out there for them to cut out agents.
What Greenberg does isn't revolutionary. It's been done for over a decade and he's riding the wave just like many other tech savvy agents are.
To say that "life insurance is not bought, it's sold" is old school. We're in a different era where technology is shifting the way life insurance is purchased. Our websites receive "application requests" daily and receive phone calls of people wanting to apply - no selling involved, just qualifying. With that said, more f2f sales are made than online sales according to LIMRA, but the gap is getting thinner every year.
xrac: Why don't insurers take this market over? They try. Life insurance terms are some of the most expensive Google adwords search terms because of their deep pockets. Agents can't compete there. Same with search engine results for the most searched terms like "life insurance quotes". Also, many life insurance companies have their own call centers. Life insurance companies are definitely trying, but there's way too many prospects out there for them to cut out agents.
What Greenberg does isn't revolutionary. It's been done for over a decade and he's riding the wave just like many other tech savvy agents are.
- 742
- 4,132
Lots of ways to fish, this is just another. To discount it because you don't do it, doesn't mean it's a bad idea or wrong. It just means you haven't tried it or had success at it.
- 25,900
Jeff you were exactly who I was thinking about when I read this thread. Even as as old guy I can see that this is going to become an even larger part of life insurance sales in the near future.
As to buying versus selling, The biggest part of my new business is from people contacting me asking to buy Life Insurance or at least for a quote. So I would agree with that as well. I am talking about multimillion dollar permanent policies down to $5,000 FE policies. And I am about as old school as you get. There are guys on this board that only work internet leads. So yeah, the future is now. IMHO
Similar threads
