Why Didn't I Focus on MA for the Last 10 Years?

[Chazm]

For someone to have 1k clients and adding 200 clients per year, it's far from a lousy business model. But you know it all I guess.

And by the way, you originally quoted me.

 

[FLM2]

Everyone's business model works if it is the right one for them, it doesn't matter what anyone else thinks.

My only issue is agents who manipulate the truth to make a sale such as someone who only offers MAPD and claims it is the same as a supplement or an agent who only offers Supplements and makes derogatory remarks about MAPD to scare people into a decision.

Other than that, it's all good for those of us who work at it, there are plenty of new clients for everyone.

 

[axeman462]

And clients are being added too, every week. I just don't understand how everyone on here thinks their model is better than the next guys. This site is rather annoying when some have the, "you're not doing it my way, and it's the best, but if you want to do it, do it" attitude. I'm actually pretty sure most people on this site aren't even close to 1k clients.

I should of mentioned too that him and I set up in local restaurant chains and service our existing clients. Med supp and mapd. I'm not sure why you keep insinuating it's a mapd model. I've only said, if you work T65's here you have to do both.

The cheapest company is UHC, they have roughly 50% of the market share and have the lowest rate increases. So you're not moving many people by marketing med supps only in Fl. Sure, you'll trip over some biz.

I sell in other states, like I mentioned before, but I still do much better working T65's here. I don't market during AEP and I still get tons of new clients.
Your way may work for you, but I've tried it and it doesn't work as well for me as this does. So I'm not sure why you're trying to convince me.

Edit: and as I hit submit, I just realize what you said. That you don't spend much time servicing your clients during AEP. That must mean you don't do part D. Because I can tell you part D is much more of a headache than mapd. Part D is horrible and changes drastically every year. So if you're not doing part D, it makes sense.

Don't waste your breathe, people that live in other states will never understand the FL market. Its a totally different animal

 

[Bevo]

For someone to have 1k clients and adding 200 clients per year, it's far from a lousy business model. But you know it all I guess.

And by the way, you originally quoted me.

Okay, so I quoted you but it was in response to what you said about your friend. Yes I think he/she has a lousy business model if they're spending the gold mine that AEP is on retention. I would assume if your friend has 1000 clients, then they are far more valuable than that. Any intelligent and successful business owner would agree.

And I didn't say anything about adding 2oo clients PER YEAR, I'm saying specifically about using the most profitable time of year (AEP) and the primary sales producer spending the majority of their time on RETENTION and not acquisition. There's a reason why companies have "Retention" and "Acquisition" departments Chazm. Maybe this is all new to you.

This is Business 101.

For any newbies reading this thread, all successful business owners know that the primary goal of your business should be to make decisions to maximize revenue which is in the best interest of your shareholders, which is likely YOU.

I don't know it all Chazm, but I sure as hell know how to run successful and highly profitable businesses and help others to do the same.

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Don't waste your breathe, people that live in other states will never understand the FL market. Its a totally different animal

I don't need to understand working your local FL market, because I'm smart enough to choose NOT to do it.

You guys act like your hands are tied and can only work your market. You can stay stuck in your own limitations, I won't argue with you.

 

[somarco]

Every successful agent (by whatever measure you choose), and even unsuccessful ones, have a business model that works for them.

Is there room for improvement?

Always.

If you are not constantly monitoring, evaluating and changing your business model the world will pass you by. I have spent most of my career heading into the wind, doing things others said wasn't possible, or trying things that people said I would not be able to do.

Did I fail?

No, but I found out a lot of things that don't work.

And along the way I found some that not only worked but were extremely rewarding.

The one who dies with the most toys wins. Some people live by that.

Not me.

I have made a lot of money and had some very lean years.

The money years are a lot more fun but I also learned a lot during the times when things didn't go so well.

When I was employed by insurance carriers I was given the worst performing territory. It was sink or swim. When I turned it around they either took that away and gave me another failing area or sometimes they fired me.

Some of my best and most enjoyable times were working for someone else. But those situations don't last.

Every carrier I worked for has been absorbed by another carrier and none of them are still working the same market as they did when I was there.

Forty years ago a man told me to give up sales. He said I was too nice and lacked the instinct to go for the kill. He suggested I would be better suited as a bag boy.

It's a good thing I didn't pay much attention to him. Since then I have won sales awards and trips based on my production.

Those are nice but what I enjoy most is having control of my destiny and having time to spend with my family.

That is the way I measure success.

I have been told that Medigap cannot be sold by phone, that you cannot survive unless you also offer MA and you have to also write PDP if you want to keep your clients.

Over the last 5 years I have lost very few clients. About half of them died, the rest decided to do something else. A few of those changed to another Medigap plan because the rate was lower.

But only for a couple of years, then the rate increases kicked in. Some of them called back to see if I could save them but they were no longer insurable. Had they stayed with the plan I suggested they would have paid a little more, not much, but a little more for a few years. But after that they would save vs their new plan.

I looked at working other states, but I haven't written all that I can in Georgia yet. When that happens I will probably look to TN as my next venture. But I don't expect that to happen any time soon.

The only real limitation in a business is what you tell yourself is a problem or obstacle. If you can believe it you can achieve it.

 

[BeeSelective]

I have all I can see sitting in my office. Six to eight a day is all I can do. I don't make appointments on Friday, and will have several,dropins. I don't like to leave anything undone Friday afternoon. If I do, I finish it on Saturday morning.
Sadly, many are rewrites, keeping existing clients. Trading $$$$$.

 

[somarco]

I might rewrite one client a year. Lose fewer than 5, about half due to death. Three died this year. Do it all by phone and email, no screen sharing. Wrote at least 20 this year by referral. Maybe more.

 

[myinsurebiz]

I don't market during AEP and I still get tons of new clients.

May I ask why you don't market during AEP? How do you get the new clients then?

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Late Sept we mail out a request for provider and drug list, we start running those comparisons on a first come first served basis.

This being done for existing clients or prospective clients?

And Hell No we don't sell Part D. We sell Med Supps exclusively, in over 40 states all by phone. We have zero MAPD clients with no intention of ever changing that.

How do your clients enroll in their PDP then? They do it themselves?

I might rewrite one client a year. Lose fewer than 5, about half due to death. Three died this year. Do it all by phone and email, no screen sharing.

Forms completed online with an e-sig?

 

[somarco]

I email them the app if medically underwritten. Have them email me a list of their med's. Go over the health questions on the phone. Submit the app electronically. Depending on carrier, e-sign is by phone interview or secure email link.

 

[BYSFG]

Wait, how does one sit in Walmart to make sales?