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20 Marketing Tips for 2019

1/3/2019

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It's a new year, and with that comes new opportunities. Creating a solid marketing plan and sticking to it will not only grow your business, but will give you structure and organization. Running your own business and working on commission has its risks and rewards, but with planning and utilizing all of the tools and resources available to you, you're guaranteed to succeed.
You can't continue to grow if you continue to do what you've always done.
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Which of the following marketing tips have you already implemented this year? Which do you need to do?
  • Cleaned up dead prospects from your database
  • Built a Google My Business page
  • Created a quarterly or monthly email newsletter for your clients
  • Asked for referrals AND Google reviews
  • Built/Updated your website - old websites don't reflect well on you or your business - if you need help, get in touch with us
  • Taken advantage of our Leads programs
  • Checked in on your existing clients
  • Partnered with a local real estate agent for new clients
  • Offered a seminar at your local shared work space, church or community center
  • Added a NEW product/carrier to your portfolio
  • Taken advantage of our in-house marketing resources
  • Built your Facebook business page and scheduled out content
  • Organized yourself, bookmarked pages, updated your computer/ software/apps
  • Downloaded our Resource for Rates app (App Store or Google Play)
  • Created a referral program
  • Asked for client feedback and implemented changes for the new year
  • Networked online
  • Set new goals for yourself
  • Picked up the phone and dedicated a certain amount of time for prospecting each day - use our Customer Engagement Models
  • Thrown out the paper apps and submitted electronic applications
By Carolyn Portanova
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Free Agent or Captive Agent?

4/5/2017

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Yesterday was Opening Day in Major League Baseball and all captive agents were on deck to kick off the season. Captive. That’s the key term here: being a captive agent in the American League or National League, playing ball for a specific franchise for a set number of years with a compensation package all spelled out.
​
What does this have to do with insurance? Captive agents in the insurance industry have a similar contract with a specific carrier: a document outlining which products they can sell, compensation, bonus structure, etc.

That’s where the similarities end.
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Most free agents playing major league baseball want to get picked up by a club so they can advance their career and enjoy lucrative income for years to come.

For free agents in the insurance industry, it’s a slightly different story. They are actually limiting themselves by signing with one insurance carrier. Why? Because they have to play by that carrier’s rules and guidelines. Is that so bad? No, but truth be told, if you’re a captive agent you are bound to that carrier’s product lines, you’re limited in your choices and options for your clients, and you’re limited by whatever the pricing structure is for those products. Ultimately? You’re bound. That’s not a very freeing concept now is it?

As a free agent, you can work with a BGA who will assist you with contracting with numerous carriers. BGA’s don’t cost you anything. You contract with them, but all of your compensation comes directly from the carrier. The benefits of being a free agent are endless. Let’s take a look at the most compelling:
  • Freedom to choose when, where and how you work. You’re the boss. You report to no one. You make your hours, you decide where your office is, you decide on every aspect of your workday.
  • Freedom to work with whatever insurance carriers you choose. Let’s face it, there are a lot of options out there. You can choose from the best, and that will open doors and possibilities for your agency.
  • Freedom to quote your clients from an array of products and options. And what does that mean? You’re doing your due diligence, and you’re researching all options for your clients. So what does that mean? You’re a good insurance agent. Pat yourself on the back.
  • Compensation, bonuses, trips and renewal commissions from every carrier you choose to work with. Insurance carriers offer leaders trips to some pretty fabulous destinations every year, and they foot the bill while you have fun with your companion. Renewal commissions are exactly that. You continue to get paid for your work long after you’ve submitted your policy applications. That’s right. It’s the gift that keeps on giving…
  • Freedom to market any products you choose. The sky’s the limit. You want to offer life insurance, auto insurance, Medicare Supplements, dental insurance, annuities? You can do it all. The world is your oyster.

​So, yesterday was opening day and all the captive agents in the country went to work for the club (or carrier) they signed with. Were you one of them? You can change that. It’s up to you though. If the idea of being a free agent sounds somewhat appealing, we’re here to help. We can’t assist you with an MLB contract if you play ball, but we can assist you with adding an arsenal of products, carriers, choices and possibilities to your portfolio that will lead you down a path of success….and hopefully fulfillment.
By Carolyn Portanova
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Are You Making Your Clients Happy?

3/14/2017

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We often have agents focus on one particular insurance product and they make that their priority. They focus on selling that particular piece of the puzzle to their clients without expanding their portfolios. I recently emailed an agent who wanted to expand beyond selling Medicare Supplement products, and these were some of the tips I shared with her for getting started with Life marketing.

"I think it’s so beneficial when an advisor works with their clients on many levels to provide the most complete solution for them. They have instilled their trust in you for certain insurance needs, and it just makes sense that they come to you for all (or most) of their insurance/financial needs.
 
As for marketing ideas, LifeHappens.org is a fantastic site for information, marketing and selling concepts, infographics and brochures. The site has some great ideas on how to relay the benefits of purchasing life insurance. I’ve attached one of their Real Life Story brochures as an example. Story telling these days is paramount, especially with social media. It’s become the new way to market to clients and customers. Sharing stories that are relatable speak to potential clients and customers, and Life Happens understand this. In turn you will have clients who become influencers (influencer marketing) which benefits you. Your clients tell their friends and colleagues about your commitment to them as their trusted advisor, and you in turn gain new clients. It’s networking and marketing working cohesively."
 
Thinking outside the proverbial box, exploring new options and adding creativity to your strategy keeps things interesting and your clients benefit from it. If you're excited about the options you offer, your clients will in turn get excited about safeguarding their financial future. 

If you're not currently offering Medicare products to your clients and are focusing on Life products or Annuities, then now is the time to branch out. Becoming a source of information and expertise for your clients only lends itself to expansion and a growing client base. If you need ideas and assistance about adding Medicare products to your arsenal, we have a dedicated team and a litany of tools that will help you get started, beginning with our Medicare Supplement Kit.

At the end of the day, it's about having that satisfied client, and happy clients make for good business. 
By Carolyn Portanova
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Why hurry to buy a Medicare Advantage plan?

9/26/2016

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Every year from October 15th until December 7th seniors look to make changes to their Medigap coverage. Many rush into a Medicare Advantage plan as they are affordable and often times they get automatically enrolled by their healthcare provider (with written notice).

​As an advisor, it’s crucial to inform your clients about the differences between Medicare Supplement plans and Medicare Advantage plans.
| The name may have “advantage” in it, but is it truly advantageous?
Medicare Supplement plans can be very affordable. They don’t have to cost your clients thousands of dollars a year. Many seniors on fixed incomes look to Medicare Advantage plans because they see the difference in pricing. However, these “advantageous” plans change from year to year. One year your client may be covered and have their physicians and hospital of choice in network, and the following year that can all be taken away from them.

​Medicare Supplement plans can never be changed or altered. Unless your client lapses on policy payments, they will never have to worry about being covered for their healthcare costs. That one, simple fact provides peace of mind for countless seniors. If given the choice to pay slightly more for a plan that will never knock them out of network, why wouldn’t they choose that option?
| Medicare Supplement plans offer freedom of choice to select any doctor…anywhere.
We believe that Medicare Supplement plans are truly the best coverage for seniors bridging the gap that traditional Medicare doesn’t cover for certain healthcare costs. The plans are stable and the carriers we offer are all A rated.

​We welcome your questions and concerns, and can sit down with you and explain in detail the pros and cons of Medicare Supplement vs. Medicare Advantage. Allowing you to then inform your client with carefully considered options.
| Your clients may only get this one opportunity to make the best choice.
Posted by Carolyn Portanova
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25 Things You Must Know Before Recommending a Medicare Supplement Plan to Your Client

3/23/2016

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Medicare Supplement plans. They’re absolutely necessary for Medicare recipients, and yet only 25% of the U.S. population are purchasing them. Close to 4 million individuals will turn 65 this year according to the National Census, and that, in and of itself is staggering.

​Medigap policies are what close the gap on health related insurance costs that traditional Medicare does not cover. Seniors struggle with the complexities of the Medicare system, and assisting them with their choices and giving them solid advice on which plan to purchase is what can set you apart from other insurance professionals. However, before you go writing your clients into Medicare Supplement or Medicare Advantage plans, here are some things to consider…not only for them, but for you, yourself.

  1. Consider the number of years the carrier or parent company has been in business. Specifically, how many years have they been offering Medigap plans.
  2. Who owns the carrier? Is it a domestic company or is the parent company overseas?
  3. What other types of insurance and lines of business does the carrier represent?
  4. Is the company a stock or mutual company? A mutual company being owned by the policy holder wherein short-term earnings are less important.
  5. How many states is the carrier entrenched in?
  6. What are the financial ratings for the carrier? S&P, A.M. Best ratings are key in deciding which plan and which carrier to offer.
  7. How often does the carrier implement rate changes and when was the last hike?
  8. Does the company have sister carriers? If so, how many?
  9. Tobacco rates are always higher, and that has to be considered when you have clients who use tobacco products, as they are a liability.
  10. What are the family and household discount rates like? Are they worthwhile and substantial enough to make a difference in a client’s policy?
  11. Competitiveness of the rates. A carrier must have competitive rates to even be considered. If their rates are exponentially higher than other carriers, that’s a red flag.
  12. What types of preexisting conditions are included, if any?
  13. What is the size of block in each state?
  14. Understanding the loss ratio of plans in state and nationally is critical factor.
  15. Are their re-insurers involved and fronting? Who is actually insuring the client?
  16. Who owns the product you’re offering? (i.e. Amerilife, AIMS, AARP)
  17. Knowing the carrier distribution channels is an important factor.
  18. How are the plans issued? Are they attained age or issue age?
  19. What is the average for attained age annual rate increases?
  20. Researching the loss history rate changes should be part of your “homework” when researching a carrier and the plans they provide.
  21. What does the upline hierarchy look like for you as a producer? How many levels are between you and the carrier?
  22. How user-friendly is the carrier? Do they offer electronic applications and quick Underwriting decisions? Ease of doing business makes your life and your clients’ less stressful.
  23. What are the compensation/commission schedules?
  24. Support and back office assistance. If you need help understanding where your policy is in the system and what is holding it up or what key components might be missing, having a carrier with knowledgeable staff and timely support is crucial.
  25. Knowing your contract, your vested interests and releases from the carrier are to safeguard your income and potential earnings.

By Sam Corey, Jr. and Carolyn Portanova
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    Carolyn Portanova is the Director of Marketing at The Brokerage Resource and has been with the firm since 2012. 

    She oversees all marketing and communications for The Brokerage Resource.

    Additionally, she works closely with the firm's independent insurance agents to teach them how to promote their own brands and in turn, grow their businesses.

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