Why Ask for Two Leads at Closing; Ask for 130.

[shawnmwalker]

Insurance 1822:

From my perspective, you got 53% of your post correct.

We can all make fun of my first job in insurance. I am still glad I had the opportunity to get my foot in the door on the IA side as a very young adult.

I meet so many friends who are my age and they are horribly upset with their industry or situation. I found a great Industry that has served me well for 11 years and I assume will serve me well for 30 more. Every time I want a new challenge I seek it within the industry.

I would argue my next frontier is agency ownership.

So far I have been entertained on the carrier side learning how agencies of all sizes operate and how carriers (Preferred Package and Mid Market mono Auto) operate. Now I am on the agency aggregator side, where I interact with the carrier side on a daily basis to the benefit of the Agents that belong to the group.

The reality is that the industry needs younger agents. This forum is filled with people wanting to break into the industry. The reality is there are many avenues to explore. We all play a role in the industry. Agency ownership is one great role.

I have enjoyed my path and don't regret it. You clearly have enjoyed yours.
But since you have made more money, we'll say the best role one can play in the industry is That of the Agency Owner.

(I wonder how many of the 56,043 members of the forum are agency owners?)

How do you get your Referrals? That is the real issue here.

 

[insurance1822]

I'm sorry you plan on working 30 more years....


..Anyway...short of being an executive or decorated actuary...I do believe agency ownership is the best avenue in the insurance industry from the standpoint of INCOME and FREE TIME. Now let's get back to the nuts & bolts...

I have the carrier representation to almost always provide the best price which alone is a HUGE asset. Building referrals is a simple concept that's more so "people skills" opposed to "insurance knowledge."

1.) Mortgage processor from local firm calls to update mortgagee clause on a homeowner's as they need an updated dec? Instead of complaining about that "service work" how about you drive to the office & introduce yourself. Give your card & the dec page while speaking intelligently. Ask for their referrals & explain why you're better then everybody else. **Note** It's important to be better then everybody else. Then "manage" that relationship. Drop off lunch, call unexpectedly with questions you may already know but gives you a reason for phone time. When they send referrals you must INSTANTLY contact that prospect & keep them updated on the progress. Most importantly...call & personally thank them EACH TIME. If you win the business, provide that processor with their insurance docs way before she has to ask for them. They will appreciate it.

2.) Realtor refers a new home buyer? Instantly ask who's doing the mortgage & repeat step 1 with that mortgage guy.

3.) Mortgage guy refers new home buyer? Ask who the Realtor is & repeat step 1 with that realtor.

Many agents struggle with "ways" to contact their COI and completely ignore how many opportunities come across their desk every day. The competition out there is weak. You have captive agents who simply CAN'T service referrals at enough of a % to solidify a permanent relationship with realtors/lenders out there.

My agency focuses on preferred personal lines home/auto & I've found the best way to perpetuate that flow of business is realtors/mortgage professionals. Now...those professionals make big money per transaction & tend to (initially) discount us insurance agents. And reason being? Well let's consider who they're dealing with on the regular? An underpaid CSR at the local office who's handling their clients insurance? A PL producer who's broke, or a captive agent who's doing their best within their constraints to make a living? They're dealing with chumps...pure & simple.

When you maximize your COI opportunity & can back it up with carrier representation, it's literally a turkey shoot out there. Maintaining & growing relationships has nothing to do w/ insurance & that's the biggest variable in this equation. Be good at what you do, maximize your exposure to COI, know you're the best at what you do & hit the streets. Guess what? Nobody else is doing it consistently.

And equally important is the understanding that it takes time to develop long term relationships. Stick to the basics & it will pay off.

DISCLAIMER: You captives will constantly face the lack of markets that will inherently end a relationship with a COI. The second they refer a mixed habitational LRO that you can't write, or a vacant home under reno that you can't write, or a flood policy you're clueless about...or any NUMBER of risks you JUST CAN'T WRITE...you lose. The reality is the real estate community COI don't care about anything other then your ability to exclusively handle their insurance issues.

Never forget to remind them after each transaction "Hey thanks for referring Joe Blow & by the way I saved him $800 on his auto."

SO..SOO....SOOOOO simple yet nobody is doing it.

 

[shawnmwalker]

Very well put. Ins 1822 has it figured out! That was the best post I have read on this site yet.

 

[oicu812nbama]

sean, we are not busting your balls for throwing out ideas. when you get on a forum with independent agency owners and accuse them of writing bad business because they are not loyal to one carrier, you have started off on the wrong foot. we have all dealt with dms and carrier reps that didn't succeed as agency owners, yet they want us to follow their business advice. if someone like that walked into my office and accused me of writing bad business (when i never have) under those circumstances, they would have been shown the door.
we all get that you want to sign agents up for your cluster. having the attitude of an arrogant carrier rep is probably not going to work for you. i can assume that your cluster is going to be all about telling me what to write and how to run my business just by reading your posts. how about being transparent and just tell us the good and bad about your cluster? if you really believe that it is the best route to go and have no problem talking agents into signing up then it should be easy for you to just give us a quick run down. please hit the key points about who REALLY owns the business if an agent decides to part ways for any reason.

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shawn: "From my perspective, you got 53% of your post correct."

can you see yourself objectively? you are being arrogant to someone who has had success doing what you are giving advice about. you need to change your "perspective".

did you have friends in high school?

 

[shawnmwalker]

Bama,

We got sideways at some point. I apologize for whatever message you read on this forum that was misinterpreted.

I would love to get you a "quick run down" as requested, however whatever it is you think you understand about Premier Group, it might be a misunderstanding..

We tailor programs and Contracts to meet Individual agency needs. It may be perhaps that you believe we are rigid in what it is we can/do offer by way of contract.

(Groups in General are often called into question on this forum. I have stated many times before that when you find the right group, they will be able to provide you: Transparency, Carrier alignment, Training and Support, and a Contract you are comfortable with. Every question you have regarding Groups or Clusters will flow back to these four points.)

We have one Customer- Our Agents. We have one Stakeholder- Our Carriers. Because we focus on the success of these two parties we can provide our agents many additional perks including but not limited to increased commissions/revenue. Our Executive team is comprised of Former Captive and Independent agency owners and agents as well as former Carrier Leadership. Arguably we have the best team in the industry to work on behalf of our Agents and Carriers to maximize results.


This thread however is not about clusters or groups. It is about YOUR close, Closing in General, and asking for Leads. How has that changed over the years? How do you do that? Teach me. Ins1822 taught us and nailed it.

 

[oicu812nbama]

what i think i understand? i can read a contract, thanks.
if you are mesmerized by networking as a marketing tool, then you certainly don't need to be giving me or 80% of the people on this forum advice on how to run an agency.
have someone that you trust read your posts and ask them if you sound condescending. i see now that you are not arrogant; you are insecure. either way, you need to change your attitude toward agents.
what we know from dealing with ins carriers and groups is that if it is in the contract then the other party will flex the contract when needed. and to be clear it is not your cluster i have a problem with it is YOU.

 

[insurance1822]

what i think i understand? i can read a contract, thanks.
if you are mesmerized by networking as a marketing tool, then you certainly don't need to be giving me or 80% of the people on this forum advice on how to run an agency.
have someone that you trust read your posts and ask them if you sound condescending. i see now that you are not arrogant; you are insecure. either way, you need to change your attitude toward agents.
what we know from dealing with ins carriers and groups is that if it is in the contract then the other party will flex the contract when needed. and to be clear it is not your cluster i have a problem with it is YOU.

Building long term organic referral sources (a function of networking) should be the ONLY marketing tool.

I too have been frustrated by Shawn throwing out talking points about successful ways to grow/run an agency, but I think he's been fair in discussing his history within the industry. He doesn't appear to be exclusively plugging his cluster, in fact he seems very well written & genuine about managing his cluster. Obviously his posts will track back to his name/business and he consistently maintains professionalism. Can you blame him? His posts are relevant to what he does & will build his online presence. I would be doing the very same thing.

I think us former captives are extremely guarded of ANY people we assume to be "company side." The truth is (based off my experience with my MA) the management level within the alliance are advocates of the agency, not the carriers. Of course they have a responsibility to both parties but their loyalty is to the agents. Even the carrier reps (again maybe influenced by the fact that my agency is a big producer & I'm part of SIAA) are not anything like Allstate reps. They aren't going to give you crap unless you're a crap agent.

The bottom line is Shawn can't deviate from the talking points of an alliance for obvious confidential reasons, so he's never going to spill the beans without a signed NDA.

You appear to be so focused on the carriers ability to bring down the gavel (and I get it coming from the captive world) but when you're part of a successful group & you're a successful agent writing profitable business...you very quickly hold the power. These companies are not going to storm in & pull codes & burn down your shop. They just have to put into place reasonable common sense measures to weed out the bum agents.

The Indy side is like a successful marriage whereby there's mutual respect & compromise between the agency & carrier for a common goal. So long as you're quoting high quality prospects & doing your job as an agency owner...you're not going to get screwed. In the rare event a carrier goes rogue (and again..if you're doing your job as a successful agent) the group will step in & b**** slap the carrier.

If you're issuing garbage business (that may fit their guidelines but you know it's not the business they want) and consequently your loss ratio goes to hell...you better believe the carrier (and the group) will be breathing down your neck.

Moral of the story? Write good business & things will work out way better on the Indy side.

 

[oicu812nbama]

i hear ya. you'd have to go back and read some of his other posts to see where i am coming from. anywho, more power to him. he can keep saying that he is not on this forum to sign up agents, and people will continue to see his character. i couldn't care less what he is doing on here. when he trolls my threads and tries to tell me how to run a successful agency when he never has, then i will defend myself.

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funny you mentioned allstate. they tried to tell my buddy to how to incorporate when they (the managers) had never actually ran an agency and knew nothing about the taxes. but you are right. i am paranoid about signing any contract because i have seen how insurance companies manipulate their agents. they pull in and out of markets yet want you to remain loyal to them.

 

[insurance1822]

i hear ya. you'd have to go back and read some of his other posts to see where i am coming from. anywho, more power to him. he can keep saying that he is not on this forum to sign up agents, and people will continue to see his character. i couldn't care less what he is doing on here. when he trolls my threads and tries to tell me how to run a successful agency when he never has, then i will defend myself.

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funny you mentioned allstate. they tried to tell my buddy to how to incorporate when they (the managers) had never actually ran an agency and knew nothing about the taxes. but you are right. i am paranoid about signing any contract because i have seen how insurance companies manipulate their agents. they pull in and out of markets yet want you to remain loyal to them.

On the indy side, a carrier's decision to pull from a market has 1/20th the impact on the agent. Because guess what? when they do.. you'll have 3 other reps knocking on your door about how they'll happily write that business for you. Captives can pull that BS because their agents are shackled with no other option. For us Indy's it's literally not a problem.

And just as much as you may have carriers changing their appetites in one direction, you have other carriers who decide they want to grow & it's a turkey shoot w/ them.

OPTIONS....OPTIONS my friend. I can tell you just don't get it yet...your captive is an abusive alcoholic spouse who's thrown you around because they can...because you have no other options.

 

[oicu812nbama]

i can't get several direct contracts myself without a bob. there are a lot of clusters who abuse their contractual power and try to force you to write business with one or two carriers. (and impose production requirements). so moving around willy nilly is not an option. it sounds to me like this has never happened to you and i hope it doesn't. i totally get what you are saying. did you buy a book or have direct contracts yourself?

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maybe i am missing something very important. if you are signed up with a cluster and a carrier pulls out what can you do with the business that you have already written? that may be my disconnect. do you still get renewals even if you lose your code for non production? or do you have to just move what you can to another carrier?