What questions do you ask...

[Life Hawk]

What questions do you ask yourself when rating a carrier? Why?

A recent discussion rating the top 10 carriers for 2019 caused me to wonder not what are the top carriers, but what questions do seasoned agents ask to evaluate one carrier as better form another. I believe that this thread could be of benefit for those new agents who don't even know what questions to ask.

I was there once... and am not afraid to learn something new now.

Your responses are appreciated... and as with all FE post, robust discussion and pointed disagreements are always welcomed.

 

[goillini52]

What questions do you ask yourself when rating a carrier? Why?

A recent discussion rating the top 10 carriers for 2019 caused me to wonder not what are the top carriers, but what questions do seasoned agents ask to evaluate one carrier as better form another. I believe that this thread could be of benefit for those new agents who don't even know what questions to ask.

I was there once... and am not afraid to learn something new now.

Your responses are appreciated... and as with all FE post, robust discussion and pointed disagreements are always welcomed.

How easy are they to deal with when you call the Home Office...How easy is it to get a policy issued...UW niches...Commissions...POS with PHI and a decision. I like to know before I go...Rating/Reputation...Do they have their sh*t together.

 

[rousemark]

What questions do you ask yourself when rating a carrier? Why?

A recent discussion rating the top 10 carriers for 2019 caused me to wonder not what are the top carriers, but what questions do seasoned agents ask to evaluate one carrier as better form another. I believe that this thread could be of benefit for those new agents who don't even know what questions to ask.

I was there once... and am not afraid to learn something new now.

Your responses are appreciated... and as with all FE post, robust discussion and pointed disagreements are always welcomed.

1) Is it easy doing business with the company.?.. Do they handle most things by phone or do they require a signed amendment for every little thing?

2) Is the process simple? - application, etc,

3) Do they have competitive rates? - not necessarily cheapest

4) Do they have Value added items that can give you a Unique Selling Position

6) Is there Fair commissions and vesting?

 

[Todd King]

Between Tom and Louis, I think they've said all the important things.

 

[Life Hawk]

POS with PHI and a decision

Why would that be important?

3) Do they have competitive rates? - not necessarily cheapest

What does a good spread look like? The difference between $1 or $2, or $10 maybe $15?

How easy are they to deal with when you call the Home Office

Is it easy doing business with the company.?

Is the ease of doing business with them more important than commission level?

Between Tom and Louis, I think they've said all the important things.

Not disagreeing, but if that's all there is to it, then why are there so many differences of opinions on the topic? Seems to me that if it was just that straight forward, many companies would be out of business.

Could the opinion or bias of an up line or an IMO/FMO have more of an impact on who is used and who is not? What might be the fall out for an agent if that is so?

Just so you are aware... I used to drive my teachers and professors nuts... I can go on like this all night.

 

[goillini52]

Why would that be important?

I like to know they got the policy before I go. Saves time in case of a decline. I'll have a better shot at placing that prospect if I get it done while I'm there...sometimes they lose interest when you have to come back in a few weeks and have to go through it all again. Best to get it placed while you're there. It took me 3 tries on a couple of them. I don't know if I could've gotten them to do a 4th POS PHI. Also, some people get nervous and make mistakes. I've caught a lot of mistakes and got them corrected during the interview, where if the PHI had been done when I wasn't there, they would've been declined.

Another thing...when you leave the house and they've already got their policy #, they've already taken ownership and the sale is more solid.


Is the ease of doing business with them more important than commission level?

To me it is. Equitable was so easy to work with, that I wrote them at 19% when I could've used others at 22%. If you have to make several trips back to fix things, to me the lower comp was more profitable.




Could the opinion or bias of an up line or an IMO/FMO have more of an impact on who is used and who is not? What might be the fall out for an agent if that is so?

I think you're right. Some FMO's make more on certain carriers...so that's who they push their agents to sell.

 

[rousemark]

Why would that be important?

Not to me.. I don't like taking time to do a POS..

What does a good spread look like? The difference between $1 or $2, or $10 maybe $15?

That is going to vary from agent to agent.. For me, you can't put a set dollar amount. because of the variations in policy size, age, health, etc.

Is the ease of doing business with them more important than commission level?

It is at least as important., if not more so. Myhighest commission level company s one I do not wrtie simply because it seems to me they are difficult to use.. UHL.


Could the opinion or bias of an up line or an IMO/FMO have more of an impact on who is used and who is not?

Depends on whether an agent is a follower or of an independent frame of mind.

 

[rousemark]

Tom, I am surprised you didn't use a lavender font....

 

[goillini52]

Tom, I am surprised you didn't use a lavender font....

Wrong Tom. I use manly colors Louis.

 

[rousemark]

Wrong Tom. I use manly colors Louis.

I knew which Tom I was speaking to... Just thought you may have been under the influence of Tom, Tom.