by Guest » Thu Jan 15, 2009 09:18 pm
I am looking for feedback from health brokers. I currently am marketing our AWD products and we are spending decent money with Telemarketing Company's on pre-setting appointments with groups about $125 per appointment with the decision maker and closing about 25% of the leads.
We have started to network with Health brokers and get them licensed so they are the agent of record and they don't have to do a thing but the commission is good, pays renewals for 10 years and they have in the past walked us right in the door to the decision maker. From the accounts we enrolled in 2008 our best participation was when we had broker referral. It is my understanding that most brokers don't use or solicit supplemental benefits so what I want to know is what would make you want to start working with a benefits specialist.
Would owning the account work, nice 1099 referral commission of all products sold, no cross selling of any other business the broker currently has enrolled.
Reason I ask is there
We have started to network with Health brokers and get them licensed so they are the agent of record and they don't have to do a thing but the commission is good, pays renewals for 10 years and they have in the past walked us right in the door to the decision maker. From the accounts we enrolled in 2008 our best participation was when we had broker referral. It is my understanding that most brokers don't use or solicit supplemental benefits so what I want to know is what would make you want to start working with a benefits specialist.
Would owning the account work, nice 1099 referral commission of all products sold, no cross selling of any other business the broker currently has enrolled.
Reason I ask is there
Posted: Thu Jan 15, 2009 11:29 pm Post Subject:
Allstate Workplace Division
Hmmmmmmmm, interesting that Allstate wants to partner with independent brokers/agents.
I like that!
If I'm correctly understanding your post.
I believe you've hit the nail on the head for most independent agents:
Would owning the account work, nice 1099 referral commission of all products sold, no cross selling of any other business the broker currently has enrolled.
I believe most insurance agents/brokers wouldn't have a problem with those terms. I have an Allstate agent, a State Farm agent and an Independent P & C agency I refer business to that I have no interest in and it's understood the client's (meaning the business owner's) life insurance, annuity, long term care, disability income, medical or estate planning needs are off limits.
Please post more information.
Is Allstate wanting to give AFLAC a little competition?
Posted: Fri Jan 16, 2009 12:30 am Post Subject: GarySpicuzza
Yes we are wanting to grow in this arena. To be honest in my territory which ended in the top of the country we had a 200% growth in AWD in 2008 and expect even more in 2009. The principal of using the agents otherwise known as EA's to be the fore front, use relationships we have with our insured HR,small business owners,employees currently not pleased with current supplemental plan is quite common. So it has been really opening some eyes and some of us are really taking advantage of it. Now as far as partnering yes and no, here is a direct broker side that you an "Independent" can get appointed wh AWD or American Heritage but there are some production goals, but as far as appointing or networking with an Agent and working together it is really possible.
What we find is the broker usually is not in control of the supplementals in a given account. (there are acceptions) so if you maintain agent of record you will get the EA and or a Benefits specialist to simply put "do all the work" and your commission...well I cant speak for every state but the relationship we have in the Northeast MGA the brokers level is twice the commision of the "DUCK"
Posted: Sat Jan 17, 2009 12:40 pm Post Subject:
Allstate Agent,
Group health/employee benefits isn't my target market. But I still have some questions regarding Allstate's Workplace Division.
Does the agent licensed with American Heritage represent himself as "Allstate" or "American Heritage" or "Allstate Workplace Division?"
I'm asking because, from time to time, we do, very rarely, but occasionally, offer positions to new agents and this certainly would be an easy track for a brand new agent to run on.
I'm also guessing these supplemental policies are simplified issue.
What are the medical questions for the short term disability income supplements?
Double the commission of the "Duck" sounds good but that usually requires stricter underwriting and if the policy doesn't get issued then 2 times $0.00 is still zero.
Posted: Sat Jan 17, 2009 08:11 pm Post Subject:
Your agent number is from AHL that is the representation.
perfect for new agents
SCGI is great 3 questions work more then 20 hours? have HIV? have you been hospitalized overnight in the past 6 months? If those can be answered we can do the SCGI on groups of 50 or more eligible DI, Term and UL
Products and prices are the same as the duck, underwriting is a breeze standard medical questions unless the group has 50 or more that can answer the questions above.
We recently put out a mini med program that seemed to draw some broker interest. And we have a pretty good wellness program for the large groups.
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