We need a Baltimore Life contract for Tele-Sales. . .

[chasejordan1]

RNA and LBL.

Great answer, and that is all you need.

 

[FinalExpenseDojo.com]

RNA doesn't allow call center business. I've been told they will terminate you if they find out... I could be wrong though.

 

[indiana260]

RNA doesn't allow call center business. I've been told they will terminate you if they find out... I could be wrong though.

I believe this to be true as well. I spoke with one of their top guys recently and he said they had a bad experience due to quality of business so they were not interested in telesales at this point.

I would guess there are still a few groups using them for telesales but I think it will be short lived.

 

[chasejordan1]

I believe this to be true as well. I spoke with one of their top guys recently and he said they had a bad experience due to quality of business so they were not interested in telesales at this point.

I would guess there are still a few groups using them for telesales but I think it will be short lived.

That should tell new people trying to start up that it may not be a good bet, especially If the companies are pulling out.

 

[FinalExpenseDojo.com]

Agreed. There are some carriers that are desperately wanting to get into FE telesales because they know that's where this industry is going. Best for OP to find one of those carriers and develop a relationship.

 

[Todd King]

Its not even that.

This fake street level talk is being pushed by IMOs that cant compete. Most (not all) carriers dont care what you put your people at. They may claim to care, but it doesnt affect their bottom line one iota.

Its not until you get into IMO contract level status that the carrier ever really pays attention. For example, it would be difficult to get a 140% contract with any carrier as an indy agent, but 120 - 125% range? Yes, you can find an IMO that will slide you in under their contract, and the carrier wouldnt even ask a question about it (in most cases).

Sometimes the things you say make me wonder if you know anything about insurance at all! Having made this statement just goes to show you have no idea what you are talking about outside of the one insurance company you represent. I really thought you were smarter than this.

 

[Todd King]

What you guys are talking about absolutely exists. Getting a contract over street with no production is possible.

I know this bc I've done it. And not to stir the pot but you will probably have to look outside this forum for it to happen.

Todd, act like an agent call around and you'll see what goes on and how generous some IMO s are.

I never said there wasn't an exception, but all of your contracts are not like that....I'll guarantee that!

 

[Rirwin]

I never said there wasn't an exception, but all of your contracts are not like that....I'll guarantee that!

Well obviously. Small companies make stupid rules like this because they need to create a level playing field to gain traction.

Bigger companies don't care about the small fish, as long as the IMO is producing they're happy.

The most shocking thing of all is the fact that you really believe what you are saying. You have been fed some BS and you ate it all up.

Call some IMO's and play dumb, then you can come and tell me I'm right later.

 

[NSRH]

Sometimes the things you say make me wonder if you know anything about insurance at all! Having made this statement just goes to show you have no idea what you are talking about outside of the one insurance company you represent. I really thought you were smarter than this.

I've represented dozens of FE companies throughout my career. Most of them operate exactly how I've outlined. The rules are laid out to appease the complaining IMO. When someone (like you) complains, they can go back to the other IMO and slap them on the risk because they didnt follow "the rule".

I've said it before: many carriers do not care what you put your people at. It does not affect their bottom line, since all commissions are run through a master contract. If you pay an agent 4% or 140%, it still filters through a master contract and the carrier makes the same money.

You are trying to brainwash agents into thinking there is not a better deal out their for them.

There is, and their always will be.

Its the IMO's job to create value in addition to commission to keep agents.

Is this why you're worried?

 

[NSRH]

Agreed. There are some carriers that are desperately wanting to get into FE telesales because they know that's where this industry is going. Best for OP to find one of those carriers and develop a relationship.

Good advice. The carriers that are going into telesales recklessly will begin to pull out. Foresters comes to mind.

But the carriers that are looking for strategic partners can make a killing if they work with their telesales partners and streamline processes.

Meanwhile, there are still carriers that have no electronic application and dont draft on SS deposit dates. They need to catch up, or they'll be left in the dust.