Writing 15 policies a week ?

[bill3173]

Re: writing 15 policies a week??

LOL I would have to agree

To write 15 a week you would have to talk to around 50-150 prospects if we are talking about indiviudal health.

The best closing rates I am hearing is around 15%.

If you have a higher closing rate than that
I am all about learning how.

My closing rate on indiviudal medical is under 5%

I was referring to this great lead source.

Keep plugging away, and your closing ratio will rise. 15 apps a week is possible and done consistently by a number of folks, but that's another story.

 

[Bentleyfinancial]

Re: writing 15 policies a week??

This sounds like horse s--t. I've heard this story before...

I'll be honest with you bill, I don't care if this sounds like horse s--t to you......I didn't come on here bragging, I was curious as to how people are handling this kind of volume. I'm not trying to sell my idea to everyone, nor am I claiming its the best way to accumulate leads, I'm merely saying that yes, it has been working great for me and now I'm working on dealing with the volume... I didn't even want to get into specifics..So, Can you help me with perfecting internet sales? Thats what I'm having trouble with... I'm just new to internet sales and was wanting to know what process these top agents are using in order to fill this volume week in and week out. I want you to know that I mean no disrespect, its just that I posted this for help, not ridicule.

 

[ABC]

Re: writing 15 policies a week??

I was referring to this great lead source.

Keep plugging away, and your closing ratio will rise. 15 apps a week is possible and done consistently by a number of folks, but that's another story.

I am all about writing 15 a week but I am getting 4 a week that are getting approved. I also dont' sell policies that have holes in the coverage. Everything I sell will pay on a $100,000 claim no problem. The policies I am selling are averaging around $300 a month in premium. Every month I also have a handfull of policies that fall into that $500-$600 a month rage for a family. These policies are staying on the books for about 2.5 years too.

I am really impressed with how so many people on this board have such a high approval rating. Underwriting kills me every month.

 

[Guest]

Re: writing 15 policies a week??

How about everyone stops criticizing, discrediting and accusing. You're way off base.

First: If you write 5 out of 100 people you speak to, that must very discouraging.

I know many agents who write 30% to 60% of live call transfers, no holes in the coverage, no slamming, purely consultative selling.

 

[djs]

Re: writing 15 policies a week??

How about everyone stops criticizing, discrediting and accusing. You're way off base.

First: If you write 5 out of 100 people you speak to, that must very discouraging.

I know many agents who write 30% to 60% of live call transfers, no holes in the coverage, no slamming, purely consultative selling.

Rob - I think the issue here is how you count, or what you count. Writing 5 out of 100, if you are cold calling, is pretty good. Heck, 5 appointments out of a 100 cold calls is pretty good.

If all you are doing is answering your phone, or dealing with highly qualified leads, then yes, 5 out of a 100 isn't so great, but, your expenses are MUCH higher to get these types of leads.

So, you either spend money up front to get the leads done for you, i.e., hire out the prospecting, or you spend your time. This is why numbers are very decieving, since I could write 20 a week if I had 2 admins tracking them, and 4 telemarketers creating the appointments. I would simply be the closer. I know agents who do this, nothing wrong with it, but its not what most agents do. Maybe more should.

Dan

 

[djs]

Re: writing 15 policies a week??

I'm working on dealing with the volume... I didn't even want to get into specifics..So, Can you help me with perfecting internet sales? Thats what I'm having trouble with... I'm just new to internet sales and was wanting to know what process these top agents are using in order to fill this volume week in and week out.

Bentley - You may have said this before and I missed it, but what type of insurance is it you are selling? Is it individual health?

I have struggled with similar issues when you hit a certain level, you start dropping the ball on a few things, and realize that you are a bit over capacity. What I had to do at that point was stop and see where the time was being consumed, what was being missed and work from there.

In general, the old fashioned checkoff sheet in a hold file work well for me. A policy written has a sheet generated of things that need to happen, and then they go in a folder to get checked on certain days.

For instance, a life policy would have a shedule something like:

App written (assuming paper app, it works better for illustration, most are electronic now though)

- Mail app today
- Order paramed
- Send thank you card

1 week from today
- Ensure app is recieved by company
- Call client to confirm paramed

2 weeks from today
- Call company, confirm status

3 weeks from today
- Find out what is keeping this from being issued.

4 weeks
- Deliver policy, review with client

6 weeks
- Followup with client to make sure everything is completed.


So if I wrote a policy today (the 5th), I would drop my 'traveler' into a file folder that says '12th'. On the 12th, I pull everything out for that day and go to work. There might be one thing, there might be 50.

I've tried more sophisticated systems, keep going back to simple.

Oh yeah, I have a folder for each month as well. If a client says to call back in 2 months, his call sheet would go into the October folder (it's August now), and then in the end of September, I would sort the October folder into the days.

It's amazing how well it works.

Dan

 

[Guest]

Re: writing 15 policies a week??

Rob - I think the issue here is how you count, or what you count. Writing 5 out of 100, if you are cold calling, is pretty good. Heck, 5 appointments out of a 100 cold calls is pretty good.

If all you are doing is answering your phone, or dealing with highly qualified leads, then yes, 5 out of a 100 isn't so great, but, your expenses are MUCH higher to get these types of leads.

So, you either spend money up front to get the leads done for you, i.e., hire out the prospecting, or you spend your time. This is why numbers are very decieving, since I could write 20 a week if I had 2 admins tracking them, and 4 telemarketers creating the appointments. I would simply be the closer. I know agents who do this, nothing wrong with it, but its not what most agents do. Maybe more should.

Dan

You are 100% correct sir, cold calling, we'll take 5%, my bad, I wasn't taking that into consideration.
Thanks!

 

[somarco]

Re: writing 15 policies a week??

I am all about writing 15 a week but I am getting 4 a week that are getting approved. I also dont' sell policies that have holes in the coverage. Everything I sell will pay on a $100,000 claim no problem. The policies I am selling are averaging around $300 a month in premium

If 75% of your apps are turned down you need to spend more time collecting a medical history and prescreening. That figure is way too high.

$300/mo isn't bad but it could be better. It depends on your client base.

Mine are mostly families. Average age probably in the 40 range. Premiums run closer to $500 per month on average.

These policies are staying on the books for about 2.5 years too.

That's good persistency. You are doing something write with the folks who stick.

 

[moonlightandmargaritas]

Re: writing 15 policies a week??

I am all about writing 15 a week but I am getting 4 a week that are getting approved.

Good gawd - that sounds like a LOT of work!

 

[arnguy]

Re: writing 15 policies a week??

I'm not going to share this with you....

haha just playing, I don't want to risk any trouble or issues with the third and fourth parties that are involved in my deal...out of respect to them of course. The companies that these individuals work for might not be happy knowing that I'm recieving several thousand dollars worth of leads every week on their dime.

Thank you!