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oicu812nbama
Guest
Do pnc companies use IMOs etc? If so, help please. I want to sell auto using statewide leads. Thanks
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oicu812nbama
Guest
did you notice that I said auto? what else would pnc mean?
Is that your answer?
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oicu812nbama
Guest
Depends on why you are asking. If you really don't know then I apologize. PNC and P & C do mean property and casualty. If you were trying to correct me then kiss my arse. You missed your calling as an English teacher cause it takes a prick to be a good one.
Thanks
Thanks
Selling auto frequently involves inspecting the risk, i.e., seeing the car before you insure it. How will you do this statewide?
Yeah, I know some carriers don't require this, but, they are few and far between, or, you are selling liability policies that neither have value nor retention possibilities.
Trying to sell auto statewide means carving out a niche between the direct writers and the local agent. I'm not sure there is a lot of room in that niche.
Also, just a warning, you'll go broke trying to work internet auto leads. Its okay to do as 1 of 4-5 marketing strategies, but if you run the numbers, you'll find you'll not even break even on the first policy period. Let me illustrate, using somewhat optimistic numbers:
10 leads per sale @ $10/lead = $100
$1000 premium per sale (12 month policy) @ 10% comm = $100
Now, selling 1 out of 10 is almost impossible. Selling 1 out of 20 is probably more realistic, but many of these will be 2 cars, keeping it closer to 1 out of 10. Problem is, the second car tends to have a lower premium.
Retention on internet leads tends to be shorter than other marketing styles. Figure 18 months average.
That will make it hard, selling 1 out of 10, to ever turn a reasonable profit.
This is why I don't buy internet leads for auto anymore.
Dan
Yeah, I know some carriers don't require this, but, they are few and far between, or, you are selling liability policies that neither have value nor retention possibilities.
Trying to sell auto statewide means carving out a niche between the direct writers and the local agent. I'm not sure there is a lot of room in that niche.
Also, just a warning, you'll go broke trying to work internet auto leads. Its okay to do as 1 of 4-5 marketing strategies, but if you run the numbers, you'll find you'll not even break even on the first policy period. Let me illustrate, using somewhat optimistic numbers:
10 leads per sale @ $10/lead = $100
$1000 premium per sale (12 month policy) @ 10% comm = $100
Now, selling 1 out of 10 is almost impossible. Selling 1 out of 20 is probably more realistic, but many of these will be 2 cars, keeping it closer to 1 out of 10. Problem is, the second car tends to have a lower premium.
Retention on internet leads tends to be shorter than other marketing styles. Figure 18 months average.
That will make it hard, selling 1 out of 10, to ever turn a reasonable profit.
This is why I don't buy internet leads for auto anymore.
Dan
Which is it? Are you apologizing or are you calling me a prick? Don't worry about it. I'll get over it. BTW, I wouldn't have asked the question if I knew the answer.
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Dudes please chill....
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Pnc must be Alabama English. Although we do have a large bank with branches throughout PA that is called PNC.
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oicu812nbama
Guest
lol. bama has it's own language for sure. larry, in that case, i apologize. i assumed that since you were an "expert" on the forum that you knew what i was referring to.
did the low persistency come from rates being raised? after 2 years we had a 88% persistency. no doubt on breaking even the first renewal period. i don't want to buy someone else's mess. i wanna do it myself.
my question was more along the lines of contracting.
did the low persistency come from rates being raised? after 2 years we had a 88% persistency. no doubt on breaking even the first renewal period. i don't want to buy someone else's mess. i wanna do it myself.
my question was more along the lines of contracting.
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