First Policy Year Claim

[J.R.]

I would stick with the online, in my opinion after reading your blog.

What makes you think I should stick with phone sales vs. some face to face after reading my blog?

1. IBOOMERANG - www.iboomerang.com - allows client to view the completed online application, then turn control over to them to "e-sign" the application. This eliminates a lot of the "I never saw it" and "I never signed anything" when the $#@! hits the fan.

What carriers are you using that have an e-sign capability? I mostly write through GR and Assurant, but I will be bringing on Aetna shortly. I looked into iboomerang, but didn't to go with them because it can be a pain to use the program if the client doesnt have the needed software. I use vyew.com instead. Can't beat the cost and they offer the same services.

2. CALL RECORDING - We installed a very simple piece of equipment that will record ALL line activity it sits between your wall jacks and is on a dedicated PC. Very easy to install but EVERYTHING is record and searchable, etc., etc., The unit is $400 (plus the cost of a cheap dedicated pc) I have the website bookmarked if you need it.

I have looked into this. I'd appreciate the website.

To me this is a big deal - if you are reading questions 100% as stated online and you have a recording of someone saying NO I NEVER HAD CANCER and turns out they did, etc., etc., You may have to disclose they are being recorded this may vary state to state, our phone system plays the notification when you dial in.

I normally answer my phone, You have reached XXXXXXXXXX. This call may be recorded for monitoring or training purposes. Hi, this is J.R.
HaHa....it works...

3. Good notes. We us ACT! you can buy it CHEAP on EBAY I have a seller I deal with if you need his / her name they are reliable and are legit copies. It is always helpful to have great notes of EVERY CALL and EVERY conversation.

I have been using ACT for over a year and fully agree with you about the benefit of a good CRM program.

4 E&O - I don't have a real high opinion of E&O since it can make you a target for the Attorneys, but it is a necessary evil I suppose if it makes you sleep better at night it is worth the $600 to $1000/year

It's my understanding the most of the carriers I represent require you to have E & 0, but I do see your point.

Just a few quick ones off the top of my head.... I wouldn't get too frustrated with cancels, pending cases not issuing as I read on your blog. You need to look at this from 30,000 feet. If you are issuing 70,80,90% of cases than you are just fine. A few are without question going to slip through the cracks - particularly Internet business. I factor these things into my overall numbers.

Some valid points you got there. Wouldn't really matter much if I was putting in 50-100 apps a month, but that is down the road.....

I would stick with the Internet thing after reading your blog, you have potential to really grow this thing, I wouldn't lose focus I think you are pretty sharp and aware of a lot of things most people at your stage are not aware of.

I appreciate the compliments. What things are you referencing??

Just watch out - because I just got my MD license last week... lol...

Bring it on. I like friendly competition........

There is a big carrier coming that is going to shake up the MD market late this year early next year - PM me if you want the inside track.

I heard on the grapevine that World is coming to MD. check your PM...

-J.R.

 

[TXINSURANCE]

What makes you think I should stick with phone sales vs. some face to face after reading my blog?

Because your background is similar to mine.

I mostly write through GR and Assurant, but I will be bringing on Aetna shortly. I looked into iboomerang, but didn't to go with them because it can be a pain to use the program if the client doesnt have the needed software. I use vyew.com instead. Can't beat the cost and they offer the same services.

All 3 have e-sign capability - I'll check out vyew.com haven't tried them them.

No the carrier was not WORLD - they have never been a major player anywhere in my opinion. Good call on Aetna btw I'll send to your PM something relating to them.

 

[Guest]

I have been using ACT for over a year and fully agree with you about the benefit of a good CRM program.

I also agree. My CRM saved my butt this week. Had I not kept good notes as well as copies of various email (which I 'embed' in the CRM) I would have lost a good case. Client was really impressed that I had all the details of our phone conversations (notes) and correspondence that he decided to use my agency as opposed to the one he was using.

FYI, I like SugarCRM (www.sugarcrm.com). It's free. ACT might be better but I like Sugar because I can put it on my server and able to access my entire 'office' anywhere in the world that I can sit down at a computer... such as at Kinko's or the 'office center' at major hotels.

I sometimes travel with a laptop, but I won't keep my 'office' on it in case it ever got stolen... or crapped out after going through the airline x-ray machine.

A good CRM is one of the most important 'investments' you can make to help insure your success. I truly believe that.

YIO is OK, Salesforce is great, ACT is popular, Sugar is free as is BrowserCRM, there are a ton of them. See http://www.smallbizcrm.com/ for ALL you ever wanted to know about CRM systems.

Al
www.InsuranceSolutions123.com

 

[J.R.]

Because your background is similar to mine.

Oh really, you used to be a model too. Great, I'm sure you love the movie Zoolander then....

All 3 have e-sign capability - I'll check out vyew.com haven't tried them them.

I normally have the client go in and verify their information. Normally this isn't a problem. I just had one bad week that's all.

 

[MHart]

Difference between Vyew and iboomerang I believe is the capability of giving the client the control of your computer to fill out the application or e sign.

Iboomerang allows you to give control to client to type in their name.

Vyew just lets client see what on your screen.

Correct me if I am wrong.

 

[J.R.]

Difference between Vyew and iboomerang I believe is the capability of giving the client the control of your computer to fill out the application or e sign.

Iboomerang allows you to give control to client to type in their name.

Vyew just lets client see what on your screen.

Correct me if I am wrong.

Really??????? I was wondering what TX meant by giving control over to the client.... I think they charge $50 a month if I recall. If that is the case, you have to ask yourself, is the $35 a month worth and do I want to give money to USA Benefits Group.net-Buy Health Insurance Online

 

[TXINSURANCE]

IBOOMERANG is owned / developed by an Insurance brokerage - it was a spin off. I have never had any conflict of issues to report, I have no complaints other than the $50/mo charge.

They do need to have Java installed which is good in about 95% of cases, the other ones it won't work without Java.

 

[somarco]

Carrier rescissions are high on the radar screen right now, especially in CA but other states have their own issues. The ones that keep popping up are BX & Assurant but that does not mean they are the only ones.

The state offices of the DOI & AG are very much aware of the practice of retroactive underwriting, claim denial & rescission. It costs the carrier a lot of money to capriciously deny claims or rescind policies. Fines, court ordered payments and bad will impact the bottom line of carriers in a big way.

Technology is great but that won't stop a client from intentionally withholding information. Quite often it is the client who manipulated the application, not the agent. Of course we have all seen situations where the agent washed an application in order to get paid. Those kind of agents won't last long.

The CYA approach of recording everything is fine but it can draw you closer to the fire if the carrier, or client, decide to get into a legal battle. In most cases the less you have in your file the better off you are during the discovery process.

I have been dealing with carriers up close for quite a few years and know what is in their heart better than anyone. They do some incredibly stupid things but denying claims & rescinding policies for the hell of it is not one of them.