Not writing any health business. Whats happening?

[Crabcake Johnny]

There is no right way and wrong way to do this and it's the beauty of being self-employed. You choose the method you're comfortable with. I mix it up since I get bored quickly with any one method. I'm back to seeing just about everyone so I can start cross-selling life and disability.

Yes, phone sales work but I've never seen anyone match the numbers of agents who do 100% face to face appointments. I worked with heavy hitters at UGA who put in $40,000 a week+ of AV - and that was selling a limited product. Just imagine sitting with those same clients with major med.

The difference is when you sit down all you have to do is get them excited about the products over the phone, then schedule the app't. Obviously it's 10X easier to go over their options in person.

Phone sales are for very experiences reps and I don't recommend anyone try it who's new. Only lay-downs sign up over the phone, everyone else just says "call me back tomorrow."

 

[MIBizInsurance]

Moonlight are you selling group or main focus individual?

Ask I sell commercial insurance and would think group sales would need to be done in person to get a decent close rate.

 

[moonlightandmargaritas]

I do individual. Group is too much work for not enough comp for me. Yes, I agree group would be easier to do in person.

 

[James]

Sales is a funny animal, lot of ways to do it. Yet I don't know of anyone that would buy insurance may it be health or life over the telephone! I just couldn't imagine the conversation that would lead me or anyone I know to buy insurance on any day because they got a telephone call, I don't care how good the Salesperson is. That is something I can say with 100% certainity. So I just can't imagine the person that would, yet people will down right fool you if you give them to much credit!

I will also say this, it doesn't matter how many carriers you go in with, the actual sale will be based on how you present what you are peddling. I'm down to one carrier now for health (okay that was unexpected) yet the last month it hasn't matter, in fact my sales are up. The one carrier I sell now is Assurant, I have not even bother to get my apoinment back with GR and Celtic. Yea I do need to go sign up for BC, I might of lost one this month because of that, not sure though?

Exactly what questions can be answered in person that can't be answered over the phone? Given the choice, I guarantee that 95% of people would prefer to do it by phone than seeing you. I've asked them. The other 5% I don't worry about.

Now lets face it, your are on the phone to Mr Smith, now where is Mrs Smith? Also he has a business with say 2 employees, its a small business so the relationship is close. In fact one if not both employees are crucial to the business, so how do you answer Mrs Smith and the Bob and John's questions? Okay, I also don't understand this, you never meet them so how do you cross sell them? At least I'm there and they are sitting in front of me and all of a sudden something happens, I know all 4! I have the ability to read them, I can call them up a month later and they actually know who I am!

Plus I can write actual paper App's just as quick as I can use a laptop. This is even more true when working with more then one person at a time, in fact I give them all App's (or the ones signing up) and explain to all at the same time how to fill out the App's! Its amazing what you can actually get away with when you are there in person!

 

[James]

I do individual. Group is too much work for not enough comp for me. Yes, I agree group would be easier to do in person.

Now all of this started because I responded to this,

What do you guys consider a lead? Most of the time I am not able to talk the business owner and I usually get a receptionist or an employee and I get allot of yes we are looking or we already have coverage but none of us are happy with our plans. Then when i do get the business owner they don't want to change or are to busy.

He is needing to get into the business and talk to the person in charge of the business. Now I do agree with businesses under 10 or even 20 depending upon the individuals its best to write everyone on an individual plan, esp. if we are talking about well or decently compensated employees.

So once again I will say this, one shouldn't go after the owner if the owner is not the one in charge of Human Resources. Ask for the person that takes care of such matters. A lot of times I get this, "oh that is Mrs Smith" or "That is Kathy, she is the go to person". Alot of times I find the owner has are is attempting to distance himself from such matters, esp if its a succesful business. If that is the case its a waste of time and can work against you if you go to the owner and he is or has decided that so and so should handle such matters. In other words, get basic information before you go to far, the worst thing you can do is step on any feet when trying to get into the door.

 

[MIBizInsurance]

James could you explain this further-

"Now I do agree with businesses under 10 or even 20 depending upon the individuals its best to write everyone on an individual plan, esp. if we are talking about well or decently compensated employees. "

I would think 5 or so plus group would be way to go?

 

[Golddoor]

I think I have it figured out. Im only appointed with Assurant right now because of no E&O coverage and I was comparing quotes with Unicare and BC and Assurant is not competitive at all. Unicare with a better plan was $137.92 cheaper per month than Assurants. :? Thats not good!!!!!

Im applying for E&O tomorrow and getting appointed with every company I can. See if that works!

 

[Crabcake Johnny]

That's not your problem. UGA had a lot of people making over $2,000 a week and my average week was $15,000 in volume with them. I was captive and could only represent that carrier and it turns out the plans were extremely uncompetitive. Making money in this business is one thing and one thing only - getting a lot of leads. You're either buying them or generating them. You can have appointments with 20 companies and be dead broke.

In fact, every single friend of mine who made at least $1,000 a week with UGA and went independent is now out of the busienss. Eight of us quit and I'm the only one left standing. They are all appointed with all 5 companies in MD. There are lots of reasons:

1) No accountability when you're independent. At UGA numbers had to be reported daily. At the week's end at the meeting you had to walk up to this huge chalkboard and put down what you wrote for the week. It was pretty hard to write "zero" and say "this doesn't work" when everyone else wrote business.

2) No goals. When you're independent you're kinda just blowing around out there. UGA had defined goals - $5,000 per week was REAP bonuses, $10,000 a week was stardard business, etc...

3) You were taught to be a marketing machine. Just market, market market. You can do take-one boxes, cold calling, those stupid pole signs, etc....just market! When you're independent there's a huge tendency to spend the overwhelming majority of your day sitting in your office as if you're get clients through osmosis.

4) No one kicking you in the ass. Case in point - I didn't feel like doing crap yesterday - blah mood. So my wife sees me playing on the computer in the morning: "So you're not gonna work at all today? Great." Check out my posts yesterday from 11am to 3pm - none. I was out doing flyers. I just needed the little kick in the ass. Your UGA manager would have said "So you're not working today? Ok, guess you don't need the money."

You have cold calling, B to B, doorhangers, flyers on cars, etc....When you're new there shouldn't be a single second you're in that office unless you're working up quotes. You have eight hours a day to work and 80% of it should be spent marketing until you're at the point where you're slammed with appointments.

Don't worry about numbers or percentages. Does it really matter if you do 6 hours a day or marketing to get one deal? No. One deal a day will be over $2,000 a week.

 

[James]

I think I have it figured out. Im only appointed with Assurant right now because of no E&O coverage and I was comparing quotes with Unicare and BC and Assurant is not competitive at all. Unicare with a better plan was $137.92 cheaper per month than Assurants. :? Thats not good!!!!!

Im applying for E&O tomorrow and getting appointed with every company I can. See if that works!

No I agree with John here, that is not your problem.

 

[James]

James could you explain this further-

"Now I do agree with businesses under 10 or even 20 depending upon the individuals its best to write everyone on an individual plan, esp. if we are talking about well or decently compensated employees. "

I would think 5 or so plus group would be way to go?

What I'm seeing is the the business owner or owners are starting to feel as though they will not be force into being a health care provider. Plus if you have a fairly healthy group, individual policies will be cheaper, esp. if the employers will only fund a small percentage. In fact I agree, as an employer its not my or their jobs to provide health care, so sorry charlie.

Read this post to understand why businesses are leaving the field of H/C Provider.

http://www.insurance-forums.net/forums/phpBB2/viewtopic.php?t=85