Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
...you pay them with an overwrite.....
I think this is where most agents have it wrong. The Insurance Carrier pays them with an overwrite, not the agent. The agent does not have a say on the FMO's overwrite.
Often times, the FMO and the agent do not have a contract with each other. The Insurance company has a contract with the FMO and a separate contract with the agent.
The FMO and the agents do not have contractual obligations to each other.
The sooner agents learn this the more at peace you will be. FMO's are contracted to bring them agents. Agents are contracted to bring the Insurance company policyholders.
Correct me if I'm wrong but the FMO is still being paid for each piece of business we bring in? Therefore, you think they would be a little more helpful with leads, getting information out about products, etc.
Correct me if I'm wrong but the FMO is still being paid for each piece of business we bring in? .
Therefore, you think they would be a little more helpful with leads, getting information out about products, etc.
You are correct
You would think. But that is not the case.
I'm forced to deal with 2 FMO's because I wasn't able to contract directly. Both of these two FMO's are worthless. All they both do is send me a birthday card. Nothing else.
If you ask a question, they refer you directly to the carrier.
You are correct
You would think. But that is not the case.
I'm forced to deal with 2 FMO's because I wasn't able to contract directly. Both of these two FMO's are worthless. All they both do is send me a birthday card. Nothing else.
If you ask a question, they refer you directly to the carrier.
[/b]
Central FMO opines:
A good FMO will earn their overide by providing underwriting assistance, case placement, case design, and scrubbing the app. Not to mention that you are generally not taking a commission haircut vs. going direct, so all of this assistance is free.
With MA, there is NO underwriting involved. The agency does not help with member services issues and does not share "best practices", instead deferring those question to Broker DSU. I do a lot of legwork to help create Special Election clients via the LIS and Medicare Savings Programs. All I really need is a place to run off copies and flyers. The admin even has a problem with that apparently. I'm not ashamed to say that I know "more" than those clowns that staff the upline.