Writing 15 policies a week ?

Re: writing 15 policies a week??

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


Some people just plain get it. Bravo on a great system. Would you mind e-mailing me some examples of your sheets? Or maybe send them in a private message?
 
Re: writing 15 policies a week??

Dan has a system - that is great, good job.

I would say 90% of the agents I speak with have no system, this is a complete failure. A system is critical to measure your success, modify and try again - over and over , etc., etc.,

Consistency is very important in the insurance business.
 
Re: writing 15 policies a week??

Dan has a system - that is great, good job.

I would say 90% of the agents I speak with have no system, this is a complete failure. A system is critical to measure your success, modify and try again - over and over , etc., etc.,

Consistency is very important in the insurance business.

Joe, haven't you learned anything? You can't mention a "system of selling" on here!! It's forum suicide I tell ya!!

:no:
Remember the quote: "What works for me, may not work for you."

That's because either it doesn't work for them or they won't tell/show you how to do it!
 
Re: writing 15 policies a week??

Some people just plain get it. Bravo on a great system. Would you mind e-mailing me some examples of your sheets? Or maybe send them in a private message?

Mine wouldn't work for you. They are easy to create, spend 10 mintues and think about what should happen on a policy submit, including both underwriting, followup, and client touches. Don't forget about asking for referrals. Don't forget thank you's, etc. Don't forget to include mailing out birthday cards (fill them out now, send them when they should go).

As you use them (you'll need a different one for each line you sell, probably), you'll adjust them to work better.

What you'll find is that you start catching the stupid little things you forget all the time. This will come with the third version of your traveler.

Dan
 
Re: writing 15 policies a week??

I'm in health insurance...

I think you guys have helped me figure this thing out. I system...well...a better system with check lists and what not...Honestly, its the small stuff that kills me. Could someone maybe provide me with some templates that work good for ind. health? Thanks guys!
 
Re: writing 15 policies a week??

A system can make you more efficient, or it can bog you down with redundant paper work.

Dan has a system that works for him. I have a system too but would not recommend it to others.

My system is simple.

I write (almost) everything down on the lead sheet and I track incoming phone calls and voice mail in a spiral notebook.

I can look at a lead sheet and tell you how many times I have called and the results. If I was able to establish dialogue I have their medical history, what kind of coverage they have now, how long they have been looking, what they pay now, what kind of plan they are looking for and what their decision time line is.

If we have discussed particular plans I make notes on what they liked and what they didn't like.

I also have notes on what kind of work they do, or if they own a business, what kind of business they have.

Most of these notes are to help me connect with the prospect on follow up calls.

Once I take an application (which is a bit of a misnomer since all my apps are electronic) I walk them through the process. I do prescreens on quite a few applications so my client is prepared for what will happen in underwriting. I tell them what the underwriter is looking for and prepare them for the phone interview.

Once the app is submitted I track it and keep my client advised on an almost daily basis. When we get an offer if I do not feel it is fair I appeal and let my client know what is going on. I engage my client in the appeal process so they can understand the level of service that is needed to win in these situations.

And all of this is recorded on the lead sheet and in emails that are archived on my computer.

If a client calls or emails in 6 months or 2 years I can instantly pull up all related emails and their application for review.

For the volume you indicate you are doing, you need to be highly organized. It will help to have a central location for all the files and notes but that will only work if you take the time to document everything.

I know Frank will probably shoot me, but I have tried CRM's in the past and, for me at least, were more time consuming than they were worth. Even if I remembered to make notes in the CRM I still had something that would come up that required me to have their file handy.

Most of my life can be traced to a yellow pad and a spiral notebook. It works well for me but I would not advise others to do likewise.
 
Re: writing 15 policies a week??

Most of my life can be traced to a yellow pad and a spiral notebook. It works well for me but I would not advise others to do likewise.

It is a good way to start. We use ACT but it is rather advanced and complex the way we use it.

The good news is with back to school specials I saw spiral notepads for 10 cents at Target!
 
Re: writing 15 policies a week??

Joe you can't imagine how much money I save on needless software by stocking up at Target during August. And some of the mom's are hot . . .

I am rethinking this electronic stuff and believe it is time to upgrade my TRS-80 with the 56k modem to something more current.

Got any suggestions?
 
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. 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.

It sounds like your customer base may be the problem. Most carriers are fairly strict about alcoholism. If you are taking a lot of these apps at or near a local treatment center, that could be a problem. There are a lot of variables to consider, Is there any commonality in what these people are being declined for and the carriers that you are using?
 
Back
Top