Worst Advice you ever got in Insurance Industry?

[Cornelius]

Go ahead and do the appointment without the other spouse present.

 

[Bob G]

You don't leave until you get the sale.

 

[Al3x Lee]

To write small policies.

don't write business with people who are a pain in the ass out of the gate. They're going to annoy you and never make you enough money to make it worth the effort.

Why do these two things tend to go hand in hand? I was literally telling my brother last night that it's odd how the large premium policies tend to be easier, at least in commercial P&C. (If you know what you're talking about)

Couldn't agree more about the pain in the ass customers too

 

[marindependent]

What is the worst advice you have ever got in the insurance industry?

The Customer is Always Right

 

[Markthebroker]

Why do these two things tend to go hand in hand? I was literally telling my brother last night that it's odd how the large premium policies tend to be easier, at least in commercial P&C. (If you know what you're talking about)

Couldn't agree more about the pain in the ass customers too

Somebody that has a business large enough to support a large premium policy are too busy, and usually too sophisticated to waste your time.

 

[jdeasy]

I guess I've been lucky? I can't think of any really terrible advice. I've had advice that I didn't take that I should have.

One piece of really bad advice I see quite a bit still is, don't put all of your contracts at one IMO.

If an IMO doesn't release then that's a good idea. But really the advice should be, if they don't offer releases, don't put any business there.

As long as they offer releases I see the most successful producers do have everything under one roof.

 

[DonP]

I guess I've been lucky? I can't think of any really terrible advice. I've had advice that I didn't take that I should have.

One piece of really bad advice I see quite a bit still is, don't put all of your contracts at one IMO.

If an IMO doesn't release then that's a good idea. But really the advice should be, if they don't offer releases, don't put any business there.

As long as they offer releases I see the most successful producers do have everything under one roof.

Ive had 2 fmo's for over 11 yrs . Both release . Never had an issue with either one . But I think it's important to have your Medicare contracts with a Medicare mostly focused fmo . You'll get much better marketing money than with a fe mostly fmo .

 

[jdeasy]

Ive had 2 fmo's for over 11 yrs . Both release . Never had an issue with either one . But I think it's important to have your Medicare contracts with a Medicare mostly focused fmo . You'll get much better marketing money than with a fe mostly fmo .

What if the IMO does both?

 

[DonP]

What if the IMO does both?

I've yet to see a Imo do both to the max . Example the big Medicare fmo's have Medicare staffs of 30 plus Medicare only employees . I call they order my supplies , they'll print in color 100 otc catalogs , they scrub all my paper apps , they track my business . And here's the big one . I got issues they got connections to the regionals and CO's to get them fixed . No mostly fe outfit does that . Most fe mostly outfits have little staff . Just my opinion . To each his own . But the biggest thing a big Medicare shop gets big marketing $'s .

 

[jdeasy]

I've yet to see a Imo do both to the max . Example the big Medicare fmo's have Medicare staffs of 30 plus Medicare only employees . I call they order my supplies , they'll print in color 100 otc catalogs , they scrub all my paper apps , they track my business . And here's the big one . I got issues they got connections to the regionals and CO's to get them fixed . No mostly fe outfit does that . Most fe mostly outfits have little staff . Just my opinion . To each his own . But the biggest thing a big Medicare shop gets big marketing $'s .

I don't believe they are getting anymore marketing dollars than thru the Medicare side of FEX.

Plus they get actual training from agents that actually sell MA and sups. Not desk jockeys that talk about selling MA and sups.

But FEX is the only IMO I know of doing both.