What Are You Gonna Do when Obamacare Comes for You?

[YouGotMyMoney]

I'm interested in hearing from other agents who have started marketing other products, whether it be : P & C, Life, Senior, Small/Large Group Health, etc etc.

P & C

If you've went this route, were you able to get appointed with the most competitive carriers in you're state?

How are you getting leads to write consistent business?


Senior

How are you getting leads to write consistent business?

If you're telemarketing, how many hours of cold calling to gain 1 client?

If you're doing DM, what's you're COA and ROI?

If doing internet leads, same question.

 

[arnguy]

If I told you, I would have to kill you!

 

[ABC]

I have met with Allstate a few times now.
Out of all the captive options I liked their business model the best. After you get the agency up and operating they allow to own multiple agencies. I am just not real hip on being a company man.

I have interview with two different financial planners with emphasis on the 401k market.

Selling group non medical benefits makes the most sense compared to my current business model. LTD, STD, Vision, Dental, and Life. If we see group health benefits drop off there is a chance this could be a good option.

My hope is I am able to sell health plans inside and outside the exchange. Even when comp is cut I think I can make up in mass volume.

I my biggest fear at this point is that the MLR drives all the carriers out of the individual and small group market. The other fear is how the hell am I am going to get paid in those markets because of MLR restrictions.

 

[YouGotMyMoney]

I have met with Allstate a few times now.
Out of all the captive options I liked their business model the best.

What products are you looking to sell through Allstate?

And why do you feel a captive company is a better match than being independent?

My hope is I am able to sell health plans inside and outside the exchange. Even when comp is cut I think I can make up in mass volume.

As a health agent, I'm not concerned about the exchanges which are a few years away, my concern is about commish drops next year and the way health care reform is taking away biz ( no child only apps, harder to write families) etc etc.

How will you make up reduced comp in higher volume?

Let's say it goes to 10% fyc, 5% renewal---you would have to write 2x as many apps to make up for the reduced comp.

1. Why not sell an insurance product where your time is better spent, and get out of your comfort zone a little bit?

2. How are you going to get leads? I wouldn't bet on SEO leads, like banking on it----it's gravy, but make sure you have somewhere else to get leads as well.

If I still actively market ind health ins next year, it will be either 1-3 day old aged leads or telemarketing.

And also, I'm not even talking about advances. I'm 99% sure there will still be advances, but they go bye bye, so do I.

 

[ABC]

What products are you looking to sell through Allstate?

And why do you feel a captive company is a better match than being independent?

Avg retention is about 7 years. 2.3 policies in place per client. Name reconition and they will allow you to OWN multiple agency locations. They do have a proven business model and they are very agressive in the mid west.



As a health agent, I'm not concerned about the exchanges which are a few years away, my concern is about commish drops next year and the way health care reform is taking away biz ( no child only apps, harder to write families) etc etc.

How will you make up reduced comp in higher volume?

Most agents will drop out of the individual and small group market.


Let's say it goes to 10% fyc, 5% renewal---you would have to write 2x as many apps to make up for the reduced comp.

1. Why not sell an insurance product where your time is better spent, and get out of your comfort zone a little bit?

2. How are you going to get leads? I wouldn't bet on SEO leads, like banking on it----it's gravy, but make sure you have somewhere else to get leads as well.

If I still actively market ind health ins next year, it will be either 1-3 day old aged leads or telemarketing.

And also, I'm not even talking about advances. I'm 99% sure there will still be advances, but they go bye bye, so do I.

If the majority of of Individual producing agents and GA's and so drop out of the market I think I could end up writing 3x or even 4x the amount of individual apps.

I would like to stay in my comfort zone if possible. I have been doing this for 12 years now and I am good at it.

Over the years I have spent a lot of resources on my website to generate leads for me. The last year I made some big changes on it. So if all the lead generating sites pull out like I think they will I could pick up a lot of traffic. I am talking maybe 5000-8000 unique IP's a month. With about 8% of those turning into leads.

I If I can get a 10% comp I will be happy. There is also some talk about 7%-8% for the life of the policy.

So these

 

[davidleekline]

Senior

How are you getting leads to write consistent business?

Networking with Financial planners, P&C agents, CPA etc.; I also have several Group insurance brokers that refer their T65 to me. I close 90% +- of these referral. I purchase internet leads-sell 1 out of 10--make sure you use a lead company that has a good return policy; I do a local direct mail piece--#10 envelope--I do everything myself so I spend just a couple hundred each months and close 2 on average., I do cold calling spend a couple of evening hours and 1-2 hours on Sat each week--usually close 2-3 on list of 40-50 names---NOTE: I call on MS not PDP/MA

hope this helps

 

[YouGotMyMoney]

Senior

How are you getting leads to write consistent business?

Networking with Financial planners, P&C agents, CPA etc.; I also have several Group insurance brokers that refer their T65 to me. I close 90% +- of these referral. I purchase internet leads-sell 1 out of 10--make sure you use a lead company that has a good return policy; I do a local direct mail piece--#10 envelope--I do everything myself so I spend just a couple hundred each months and close 2 on average., I do cold calling spend a couple of evening hours and 1-2 hours on Sat each week--usually close 2-3 on list of 40-50 names---NOTE: I call on MS not PDP/MA

hope this helps

sure does, thank you.

BTW, with the internet leads, are you:

1. Selling over the phone or going to their home?

 

[davidleekline]

going to home.