I don't understand. Isn't this only available in Texas and not going to be available elsewhere for a very long time?
Farmers Insurance to Cut Commissions and Increase Bonus.
- Thread starter todd02
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I don't understand. Isn't this only available in Texas and not going to be available elsewhere for a very long time?
- Thread starter
- #52
Re: Farmers Insurance to Cutt Commissions and Increase Bonus.
Timing is 6-18 months before expansion to other states.
Timing is 6-18 months before expansion to other states.
- Thread starter
- #54
- 977
Re: Farmers Insurance to Cutt Commissions and Increase Bonus.
Why is that hilarious? I know the deciding factor should not always be premium, but telling prospects that my company puts more ads on TV then some other company is not providing value. If I can't provide what the prospect wants or show them some kind of better value, whatever that might mean to them, I will straight up tell them and asked if we could review at a later date. The question was a valid one so why don't you want to answer it?
Why is that hilarious? I know the deciding factor should not always be premium, but telling prospects that my company puts more ads on TV then some other company is not providing value. If I can't provide what the prospect wants or show them some kind of better value, whatever that might mean to them, I will straight up tell them and asked if we could review at a later date. The question was a valid one so why don't you want to answer it?
- Thread starter
- #56
Re: Farmers Insurance to Cutt Commissions and Increase Bonus.
My software is smart ranking, lead/prospect/cross sell management and marketing tracking system. It doesn't sell the policies for you. The producer sells it. No ethical problem on our side.
However... So a Mercedes and A Ford are the same product and company offering the same thing right?
Home contracts are rarely the same. You have all risk and named perils. You have customized endorsements. You have much different claims experiences and ratings. You have direct access to service through an Agency or you go through a call center. List goes on and on. That's why it's hilarious.
My software is smart ranking, lead/prospect/cross sell management and marketing tracking system. It doesn't sell the policies for you. The producer sells it. No ethical problem on our side.
However... So a Mercedes and A Ford are the same product and company offering the same thing right?
Home contracts are rarely the same. You have all risk and named perils. You have customized endorsements. You have much different claims experiences and ratings. You have direct access to service through an Agency or you go through a call center. List goes on and on. That's why it's hilarious.
Last edited:
- 977
Re: Farmers Insurance to Cutt Commissions and Increase Bonus.
It's a much simpler question than you're making it. Your refusal to answer it, actually answers the question. Thanks for that.
Hey, at least you can live with it, right???
It's a much simpler question than you're making it. Your refusal to answer it, actually answers the question. Thanks for that.
Hey, at least you can live with it, right???
- Thread starter
- #58
Re: Farmers Insurance to Cutt Commissions and Increase Bonus.
Did you even read my first paragraph? Yes I can live with people selling Insurance based on Value and Price.
In reality my software will level rates and the playing field.
Did you even read my first paragraph? Yes I can live with people selling Insurance based on Value and Price.
In reality my software will level rates and the playing field.
- 1,581
Re: Farmers Insurance to Cutt Commissions and Increase Bonus.
Here's the truth & it's a shame Todd02 won't admit it.
Captives sell products that provide LESS coverage for higher prices compared to the rest of the market. Their practice is to buy up a bunch of business & then just HAMMER people on rate increases. Those who stay, are the ones who don't care about (or don't notice) price increases (aka less price sensitive) and they build legacy books of idiots who pay way too much for insurance (probably supplemented by the name they recognize from sinking hundreds of millions into advertising.) It's a model that IMO, is unethical & clearly not best for the consumer.
So when Farmers goes into buying mode? Sure, I bet this software could help agents who leverage it.
If you trend the statistics, the captive market-share is continuing to decline. The direct markets are out growing everybody, but the IA markets are outgrowing captives & they're way more profitable then the direct. State Farm is the only company who really, really does a good job of rounding out accounts & REALLY getting (and keeping) the true loyalists
The captive market is about handcuffing agents who have no choice but to sell their garbage & then cast a wide net every few years to catch a bunch of people. Weed out those who care about pricing & continuing developing a legacy book of idiots paying way, way more then they should for insurance.
This software will help if you're on that fishing boat. The reality is the IA channel is better for the agency owner & the consumer. I'm friends with a handful of SF agents & those guys can truly do whatever they want (grow...not grow...not work...etc...) so I can't really knock it.
I think the reality here is Todd02's development of & confidence in this software is the result of being brainwashed by the captive & living in that bubble. Most successful IA's would laugh this off the table as we're too inundated w/ referrals to even bother with this snake oil stuff. But, get a captive who needs to hit numbers & quote internet leads like a madman to survive (and help Farmer's thrive????) Well then yah...sure it makes sense.
Here's the truth & it's a shame Todd02 won't admit it.
Captives sell products that provide LESS coverage for higher prices compared to the rest of the market. Their practice is to buy up a bunch of business & then just HAMMER people on rate increases. Those who stay, are the ones who don't care about (or don't notice) price increases (aka less price sensitive) and they build legacy books of idiots who pay way too much for insurance (probably supplemented by the name they recognize from sinking hundreds of millions into advertising.) It's a model that IMO, is unethical & clearly not best for the consumer.
So when Farmers goes into buying mode? Sure, I bet this software could help agents who leverage it.
If you trend the statistics, the captive market-share is continuing to decline. The direct markets are out growing everybody, but the IA markets are outgrowing captives & they're way more profitable then the direct. State Farm is the only company who really, really does a good job of rounding out accounts & REALLY getting (and keeping) the true loyalists
The captive market is about handcuffing agents who have no choice but to sell their garbage & then cast a wide net every few years to catch a bunch of people. Weed out those who care about pricing & continuing developing a legacy book of idiots paying way, way more then they should for insurance.
This software will help if you're on that fishing boat. The reality is the IA channel is better for the agency owner & the consumer. I'm friends with a handful of SF agents & those guys can truly do whatever they want (grow...not grow...not work...etc...) so I can't really knock it.
I think the reality here is Todd02's development of & confidence in this software is the result of being brainwashed by the captive & living in that bubble. Most successful IA's would laugh this off the table as we're too inundated w/ referrals to even bother with this snake oil stuff. But, get a captive who needs to hit numbers & quote internet leads like a madman to survive (and help Farmer's thrive????) Well then yah...sure it makes sense.
- Thread starter
- #60
Re: Farmers Insurance to Cutt Commissions and Increase Bonus.
Just shows your ignorance to what good processes look like In business or how to manage a pipeline of unclosed quotes. Let me guess though you have a 80-90% closing ratio HAHaHA! Im already working with one of the largest Indy's in Texas that has a 600 million dollar book owned by the VC group backing me. It's fun to watch your jealousy though. Same thing you did when you stalked me on Facebook and saw my hot wife.
Just shows your ignorance to what good processes look like In business or how to manage a pipeline of unclosed quotes. Let me guess though you have a 80-90% closing ratio HAHaHA! Im already working with one of the largest Indy's in Texas that has a 600 million dollar book owned by the VC group backing me. It's fun to watch your jealousy though. Same thing you did when you stalked me on Facebook and saw my hot wife.
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