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MetLife introduces field underwriting tool; Farmers introduces incentive program

Brian Anderson

A couple of major carriers recently introduced new products and incentives – one designed to help agents provide quicker, more accurate premium quotes and the other intended to recruit new agency owners.

MetLife has launched a proprietary individual life insurance field underwriting tool called MetLife QuickPredict.

The company says the new rules-based tool is designed for maximum ease of use. It estimates a client’s likely rating class in a “simple-to-use online format” – viewable on computer, tablet, or smartphone – allowing financial professionals to provide more accurate policy premium estimates.

“With MetLife QuickPredict, someone can leave my office with the knowledge that we’ve provided a more accurate estimate of the underwriting class for their life insurance policy,” said Susan Maginn Christ, of Maginn Wealth Advisors in Indianapolis, part of the MetLife Premier Client Group. “One of the most frustrating things for life-insurance applicants is hearing back weeks later from a financial professional or insurance company underwriting department that the policy they have applied for will cost them more than they thought. It helps to build our credibility as financial professionals when we are able to estimate a more appropriate rate. It’s customer centricity in action, for both applicants and for financial professionals.”

QuickPredict, according to a release introducing it, ferrets out those lifestyle and health-related factors that have the greatest bearing on rating class. Financial representatives lead clients through a short series of questions

MetLife QuickPredict is available to MetLife producers by desktop, laptop, tablet, or smartphone. Designed to help representatives estimate rating classes, the tool was rolled out nationwide in late September to firms that sell MetLife’s life insurance products.

For more information, visit www.metlife.com.

Farmers introduces new suite of incentives to recruit qualified agency owners

Farmers Insurance, one of the largest multiline insurers in the country, on Dec. 3 announced a suite of incentives and enhanced options to support those qualified individuals interested in becoming agency owners.

“Farmers Insurance understands that starting or expanding a business may require additional capital, and we’ve developed a set of innovative financial incentives designed to provide assistance to qualified candidates who are ready to build their future as Farmers agency owners,” said Stephen Brown, head of agencies for Farmers. “Our new incentive packages are designed to assist new agency owners to rapidly grow their businesses by improving their cash flow, enhancing their marketing programs, and helping improve the return on their investment.”

Some of the new incentives include:

  • Office Start Up Bonuses of up to $10,000
  • Lead Generation Bonuses of up to $5,000
  • Monthly Bonuses for up to three years
  • Lucrative Annual Bonuses

These are in addition to a number of existing incentives currently offered by Farmers, including:

  • Support for obtaining insurance and securities licenses
  • Discounted rates for employee payroll services
  • After-hour call center support at no charge
  • Eligibility for low-rate business loans
  • Free business operation consulting

“With our new programs and incentives, we are expanding opportunities for qualified candidates to become Farmers Agency Owners by helping them to build or buy into this rewarding business ownership venture,” said Brown. “Whether a candidate is new to the insurance business, has a successful entrepreneurial track record and investable funds or the candidate already has a history of success in the insurance business and is ready to quickly transition into an Agency Ownership opportunity, Farmers has packages that could help these candidates become businesses owners more quickly than before.”

With its internationally recognized University of Farmers, the multiline insurer also provides candidates with award-winning training and ongoing professional development. Especially for prospective agency owners, having access to the tools and resources that can aid their long-term success is a major benefit.

“Farmers also understands that multicultural consumer markets continue to grow at a much faster pace than other segments and we are actively seeking the right people to be able to serve these growth markets,” added Luisa Acosta-Franco, head of recruitment, marketing and field support. “Additionally, as a recognized military-friendly organization, Farmers can offer veterans an exciting opportunity for those transitioning from military to civilian careers.”

Qualified candidates with military backgrounds or bilingual skills may be eligible for additional incentives.

Those interested in obtaining additional details about the Farmers Agency Owner opportunity should contact Farmers at www.beafarmersagent.com. At the website, potential candidates can also get in contact with a local business consultant in their area who can walk them through what the next steps will be.

Farmers Insurance Group of Companies is a leading U.S. insurer group of automobiles, homes and small businesses and also provides a wide range of other insurance and financial services products. Farmers Insurance serves more than 10 million households with more than 20 million individual policies across all 50 states through the efforts of over 50,000 exclusive and independent agents and approximately 22,000 employees. For more information visit www.farmers.com.



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