tmk1536 092910agent training only. not for sales use. building wealth through quality business...
Post on 01-Apr-2015
213 Views
Preview:
TRANSCRIPT
TMK1536 092910 Agent training only. Not for sales use.
Building Wealth Through
Quality Business
TMK1536 092910 Agent training only. Not for sales use.
TMK1536 092910 Agent training only. Not for sales use.
Recap of Changes Impacting Quality
•Increasing Direct Pay on Section 125 Worksite cases
•Increasing max amount of direct pay per policy
•Increasing AP per sale with Laptop implementation
•Increasing AP per sale with needs based Worksite sale
But at the same time…
•Increasing impact of poor DCN & Persistency on direct pay including total loss of direct pay
•Increasing impact of poor DCN & Persistency on ability to earn bonus
TMK1536 092910 Agent training only. Not for sales use.
Where we are at & where we are going…
As of Nov. 25, 2012
DCN: 10%
4-Month Persistency: 86%
13-Month Persistency: 62%
TMK1536 092910 Agent training only. Not for sales use.
Where we are at & where we are going…
Goal for each branch moving forward
DCN: 6% or less (15)
4-Month Persistency: 93% or more (8)
13-Month Persistency: 75% or more
TMK1536 092910 Agent training only. Not for sales use.
What’s in it for you?
TMK1536 092910 Agent training only. Not for sales use.
TMK1536 092910 Agent training only. Not for sales use.
Employee BM, $10k/wk, 10% Growth
Renewals over the next 10 years
BM with 75% 13-month persistency
makes $65,190 more vs. BM with 63% 13-month persistency
TMK1536 092910 Agent training only. Not for sales use.
Employee BM, $25k/wk, 10% Growth
Renewals over the next 10 years
BM with 75% 13-month persistency
makes $162,977 more vs. BM with 63% 13-month persistency
TMK1536 092910 Agent training only. Not for sales use.
Employee BM, $50k/wk, 10% Growth
Renewals over the next 10 years
BM with 75% 13-month persistency
makes $325,954 more vs. BM with 63% 13-month persistency
TMK1536 092910 Agent training only. Not for sales use.
Ind. Contractor BM, $10k/wk, 10% Growth
Renewals over the next 10 years
BM with 75% 13-month persistency
makes $216,315 more vs. BM with 63% 13-month persistency
TMK1536 092910 Agent training only. Not for sales use.
Ind. Contractor BM, $25k/wk, 10% Growth
Renewals over the next 10 years
BM with 75% 13-month persistency
makes $540,787 more vs. BM with 63% 13-month persistency
TMK1536 092910 Agent training only. Not for sales use.
Ind. Contractor BM, $50k/wk, 10% Growth
Renewals over the next 10 years
BM with 75% 13-month persistency
makes $1,081,574 more vs. BM with 63% 13-month persistency
TMK1536 092910 Agent training only. Not for sales use.
It’s not how much you write, it’s how much you keep.
TMK1536 092910 Agent training only. Not for sales use.
TMK1536 092910 Agent training only. Not for sales use.
And that’s just renewals.What else does quality
business impact?
TMK1536 092910 Agent training only. Not for sales use.
TMK1536 092910 Agent training only. Not for sales use.
So how do you protect your wealth?
TMK1536 092910 Agent training only. Not for sales use.
TMK1536 092910 Agent training only. Not for sales use.
Quality Control Manager
TMK1536 092910 Agent training only. Not for sales use.
TMK1536 092910 Agent training only. Not for sales use.
Quality Control Manager Profile – Who are you looking for?
•Experienced administrator or Agent with good work habits but not strong prospector
•Great organizational skills
•Strong product and underwriting knowledge
•Strong phone, email, and spreadsheet skills
•Doesn’t have desire to be liked by Agents or Managers
THIS PERSON IS NOT A UNIT MANAGER!!
TMK1536 092910 Agent training only. Not for sales use.
Quality Control Manager Duties
•Review applications in the portal
• Change apps to trial/cancel apps
• Make bank verification calls
• Make internal QAC calls to applicant
•Follow up on Pending Business (CODs, QAC, Medical Records, Oral Swabs, etc.)
•Call Worksite clients to verify deductions started, first bill received, first bill paid
•Call past due worksite cases
•Analyze Qlikview data
•Train agents on recurring issues
TMK1536 092910 Agent training only. Not for sales use.
Ideas on how you pay Quality Control Manager
•Hourly rate
•Bonus for each point better than company average on DCN and 13-month persistency
TMK1536 092910 Agent training only. Not for sales use.
Conservation Agents
TMK1536 092910 Agent training only. Not for sales use.
TMK1536 092910 Agent training only. Not for sales use.
Conservation Agent Profile – Who are you looking for?
•Agent with good work habits but not strong prospector
•Great organizational skills
•Calm demeanor to deal with customers
•Strong phone, email, and spreadsheet skills
•Ability to drive your entire territory
•Doesn’t have desire to be liked by other Agents
TMK1536 092910 Agent training only. Not for sales use.
Conservation Agent Duties
•Reinstate lapsed policies
•Move Payroll Deduction customers to bank draft ($6 MM)
•Travel to customer home/worksite to collect paperwork, signatures, swabs, etc.
TMK1536 092910 Agent training only. Not for sales use.
How Conservation Agent is paid
•Reinstatement bonus
•Writing additional business while reinstating policies
•Renewals
•Build a team and supervise Agents
TMK1536 092910 Agent training only. Not for sales use.
Portal Usage
TMK1536 092910 Agent training only. Not for sales use.
TMK1536 092910 Agent training only. Not for sales use.
Are we utilizing the portal?
•Last two weeks 4,500 submitted apps
•39% of the apps have been viewed
•Last week, 11 BMs did not view any apps
•15 apps cancelled
•11 apps changed to trial
TMK1536 092910 Agent training only. Not for sales use.
We Don’t Accept
• Prepaid cards such as Metabank, Green Dot, NetSpend (14 or 16 digit account numbers) or Chase Liquid
TMK1536 092910 Agent training only. Not for sales use.
Coming Attractions
TMK1536 092910 Agent training only. Not for sales use.
TMK1536 092910 Agent training only. Not for sales use.
Coming Attractions…
•Quality Playbook
•Torch Magazine recognition
•Reinstatement bonus test … Who is committed?
•Quality School March 6-7, 2013
top related