Thoughts on the FE telesales biz

[WinoBlues]

I'm just very wary of the persistency. Unless i go by the clients house and put them back on backdraft the policy's gone 80% of the time. Most people refuse to answer there phones nowadays.

I keep hear about persistency on here so it must be an issue. But I just don't understand doing work knowing 20-30% cost you money and time with zero return.

We all lose a <13 months case here and there but it seems to me that should be rare.

Just a thought.

 

[Rob Lion]

you may want to triple check is all i am saying

Ryan if you don't believe me i'm sure you can schedule a call with Jeff root or Nic West and they can further educate you. I'm not going to go back and fourth with you.

 

[JRoot]

For the sake of disclosures, I have sold FE over the phone for a few years now, and I do reasonably well at it, but it always seems to me to be on wobbly legs. Carriers constantly entering and exiting telesales, the ongoing problems with persistency, and final expense agencies changing management all the time.

Awesome that you're seeing success with FE telesales.

I agree it's been wobbly in the past. Any time there's wobbly legs, it's going to take an outside effort to firm that wobble up...hence, the FE telesales agencies entering the market and doing things differently. We're all training how to sell FE over the phone correctly, forming conservation teams to keep more business on the books and taking compliance measures to make sure everything is done correctly. With everything done correctly, you have persistency levels no worse than f2f business.

Seeing this, you have final expense companies like RNA entering back into telesales with agencies that have this in place.

I don't think it'll be so wobbly in the future.

you may want to triple check is all i am saying

Ryan, RNA has approved our agency for FE telesales (Digital Senior Benefits).

 

[Todd King]

We're all training how to sell FE over the phone correctly, forming conservation teams to keep more business on the books and taking compliance measures to make sure everything is done correctly. With everything done correctly, you have persistency levels no worse than f2f business.

Jeff,

Maybe it was just a problem of semantics or something, but this is all I was trying to say before. That phones sales bring a natural persistency (less than f2f) problem with it. I never said you couldn't overcome the problem, like you are obviously doing.

Anyway, sorry for any confusion that I may have caused with that conversation.

 

[goillini52]

Fixed that for you .. I guess he won't be making an appearance today after all. @jdeasy tell us how you've changed your opinion and you now support telesales and you are now a Villanova Wildcats fan instead of Kentucky

JD is now doing telesales for Ramiz at NorthStar.

 

[DayTimer]

JD is now doing telesales for Ramiz at NorthStar.

Not only that, his team is now Louisville!

 

[goillini52]

Not only that, his team is now Louisville!

Said one pot stirrer to another.

 

[myinsurebiz]

Assurity doesn't do telesales for FE. They don't have FE anymore. If you want to add a couple though, Liberty Bankers does as well as the new Lumico FE product. The Lumico product (which just came out) was designed for phone sales from the inception.

Hey Todd,

2 ko questions are?

Comp %?

Advance 3 or 6 months?

 

[theinsuranceman]

Jeff,

Maybe it was just a problem of semantics or something, but this is all I was trying to say before. That phones sales bring a natural persistency (less than f2f) problem with it. I never said you couldn't overcome the problem, like you are obviously doing.

Anyway, sorry for any confusion that I may have caused with that conversation.

So Todd, how much AP have your produced with FE tele-sales by your own voice? I've seen face 2 face FE agents with lower 13 month persistency than tele-sales agents....and also vice versa.

 

[theinsuranceman]

i wouldn't say that out loud about RNA... if they find you doing it they will terminate

i would say 95% of the people trying to do FE tele sales on their own will fail

I agree with your 95% figure. It seems to hold true for the FE face 2 face agents also.