Thoughts on this FMO's Recruiting Tactic?

Aug 16, 2016

  1. SirLurkAlot
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    SirLurkAlot Expert

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    Last night I received the email pasted below from the email address: Renaissance Automated Contracting System <[email protected]> with the subject line of "Renaissance Contracting Paperwork". It was sent on behalf of Eldercare Insurance Services out of Arkansas.

    I just recently spoke with one of the main FMO's I contract through and he had mentioned that he was looking at adding Renaissance but no real discussion took place. When I got this email, which was in a format that I have only received when I requested a contract, my first thought was it must be one of those rare instances where my FMO has another FMO between him and the company- and I almost began the contracting process.

    However, I thought I better double-check thus I called Eldercare first thing this morning. I asked about the basis for them sending me this and the female rep at Eldercare asked that I forward the email to her so she could see it. (Note: They had been CC'd on the original email sent to me.)

    She quickly emailed me back "that is a mass email that was sent out to all our agents was an encouragement to fill out the contracting link for a new product." I immediately emailed back "Thanks for the response. I was unaware that I am an agent under you. Can you tell me what companies I am contracted with you?"

    I did not receive a response. I called Eldercare a little while ago and the rep I was dealing with answered the phone and informed me that it was an email that was sent out to an agent list contradicting the "our agents" she had stated in her earlier email.

    I am going on 19 years as an agent and I have never experienced this tactic before. I was not really familiar with Eldercare Insurance Services besides the name kind of ringing a bell so I don't know their reputation and more importantly their release policy. To me this seems like a deceptive tactic that could definitely drive agent contracting but also piss off those who are loyal to their existing FMO's. Is this something that other reputable FMO's are doing and I've just been immune? I would be interested in hearing others thoughts on this.

    Here's the original email:

    Dear <My Name>,

    We appreciate your interest in contracting with Renaissance Life & Health Insurance Company of America. We look forward to working with you. You may click on the below link to begin the contracting process. Please call me or email my office with any questions or needs.

    https://renaissance-contracting.com/sign_up.aspx?code=nmoL52LYgZ876334008

    Eldercare Insurance Services
    (800) 777-9322
    [email protected]
     
  2. pcbinsurance
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    pcbinsurance Guru

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    It's shady, deceitful, and not transparent. Of course, many IMO's practice this type of deception on a daily basis. I'm surprised you've only just experienced it as it's been going on for a while now. All of these outfits have access to every agent's information.
     
  3. GoPokes
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    I just picked up a contract through Eldercare. So far, on my end I haven't experienced anything that has me concerned.

    I had to re-read your explanation a few times to try to figure out why you were upset. I guess I get it now, it was made to appear that you you requested the paperwork when you didn't, I can see how that is sneaky, and some creative marketing. Sounds like they just bought a list of agent emails, and sent it to everyone. I get stuff like that pretty often, just not in that format.
     
    GoPokes, Aug 17, 2016
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  4. SirLurkAlot
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    Go Pokes, not upset but just thought it was a questionable way to get agent contracts. Again, by them thanking me for my interest in contracting (which I never showed interest) and then saying it was sent to "our agents" along with the format it was sent in, it seems it was an attempt to mis-lead. Again, I know nothing about Eldercare but definitely have to question the way they operate.

    By the way, good luck this season to those Stillwater Cowboys!
     
  5. Rearden
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    Rearden Guru

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    I love the "you have $50 lead credit" spam emails.

    Anybody getting them?
     
    Rearden, Aug 18, 2016
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  6. pfg1
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    My question is... why do they think its a good idea to "trick" agents into signing up under them? Do they really think those agents that do will write business with them once they figure out they've been duped?
    To me, that seems like a stupid business model. Why not just show the agents you can provide value and hopefully they will want to partner up. I guess their philosophy is, if they get enough agents contracted someone will write business and they'll make some $.
     
    pfg1, Aug 19, 2016
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  7. SirLurkAlot
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    Exactly my thoughts PFG. I have a non-res license in Arkansas and should a product come available there that my Texas FMOs don't offer I would probably look to an Arkansas FMO for that product. Obviously, my first impression of Eldercare is not positive. I am glad it just isn't me that thinks this marketing tactic is questionable.

    Rearden, I have not seen the lead credit email. I get a lot of email solicitations daily and 95% get immediately deleted without opening. Which I assume others do as well thus Eldercare feeling the need to use a contracting email.
     
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