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Effective Ways to Grow Insurance Business (infographic)

Posted by www.psmbrokerage.com Admin on Thu, Apr 16, 2015 @ 04:54 PM





Source: lifehealthpro.com

Additional Updates:

Tags: Building Client Relationships, insurance companies, Sales Leads

5 things the fastest-growing insurance agencies have in common

Posted by www.psmbrokerage.com Admin on Wed, Mar 25, 2015 @ 10:24 AM

blog pic Insurance agencies are like snowflakes, no two are alike. However, after spending lots of time with agency owners in hyper-growth mode, I learned that there are several traits they have in common. Below are five that stand out, and duplicating these tips can help your firm become a high-performing agency.

  1. Culture - Top-performers have a culture that’s focused on production. When we talk about building a sales-focused culture, people often assume that we’re dismissing the importance of great service. This is not the case. In fact, agencies with the best sales culture tend to have the best service teams as well. Keep in mind: You can’t flip a switch to create a world-class sales culture. It takes communication, training, charisma and an owner that’s laser-focused on their people, processes and tools. You’re slow to hire and quick to fire but top performers love working in your agency. Not only are they growing professionally and personally, they’re having fun doing it. You’re a leader not a manager, and employees know that they have your support every day. Your attitude, not your aptitude will determine your altitude.

  2. Technology - Agents experiencing hyper-growth understand that technology can scale a business quicker than manual processes. When they invest in new technology it’s implemented properly and everyone in the agency buys in. I can’t tell you how many times I’ve seen agents invest in the latest and greatest technology then expect it to be a magic bullet. Unfortunately, it sits on the proverbial shelf and collects dust because they can’t culturally adapt. It's not faith in technology, it’s faith in people.

  3. Sales & Marketing - Agency owners at the helm of fast-growing agencies view themselves as sales and marketing organizations that happen to offer insurance products. They’re active on social media, email marketing and have a top-notch website. They add to their pipeline with purchased leads and have a strategy for every prospect they encounter. They have a sales process that everyone in the agency follows and it’s reviewed in meetings, trained to new hires and most importantly, it works! The term “sales” isn’t a bad word but is embraced in the hyper-growth agency.

  4. Metrics - Agents that are growing know how many quotes they received today, yesterday, this week, last week, last quarter; well, you get the picture. They know how many sales, lines of business, premium and new commission is written, then celebrate when sales goals are reached or exceeded. They know how many cross-sells the service or sales team converted and chances are; bonuses are determined by these metrics. Whether they have 2, 20 or 200 people they know their teams closing ratios; which rep should get the next lead and have this data available in real-time. Agencies that are data-driven can turn dials, pull levers and make changes on the fly. This ensures a pipeline full of leads that are being distributed to the right person with the highest propensity to close. Stop guessing! You can’t manage what you don’t measure.

  5. Change - How often have you looked at your agency and wondered what could’ve been? Change is a core principle that every agency owner needs to embrace or risks being left behind. Don’t be afraid, you can be whatever you want, but it’s not going to happen unless you change. The world completely changed outside of your agency, has it changed internally? Recruiting top talent, adopting a digital presence and developing a sales process for the connected consumer is key to your success. These are changes that need to be made if you want to not only survive, but thrive in 2015 and beyond. If you’re not changing, you’re dying. One of best things about our business is the ability to create whatever type of agency you choose. You’re unique and there’s nobody that can replicate what you do on a daily basis. You have a choice every day your feet hit the ground so maximize the opportunity and, lets get growing!




Source: lifehealthpro.com

Additional Updates:

Tags: insurance companies, insurance similarities,, insurance company similarities,

Physicians Medicare participation on the rise

Posted by Guadalupe Cantu on Fri, Aug 23, 2013 @ 02:33 PM

Medicare SupplementsIn recent years, the numbers of doctors who have chosen to participate in Medicare program have risen. According to a Department of Health and Human Services, it rose by one-third from 2007 and 2011. The growth can also be seen in the 2011; about 1.25 million physicians billed Medicare, compared to the 925,000 of those who billed for their services in 2007, as reported by HHS Office of the Assistant Secretary for Planning and Evaluation.

According to Jonathan Blum, deputy administrator and director for the Center of Medicare, the trend "provides a more complete picture of how physicians choose to participate in the Medicare system."

The growth has continued despite the physicians complaints about Medicare payment caps, new paper work requirements, and Congress political delays of the payment of the Medicare beneficiary system, which could lower rates by 30% and is designed to ensure Medicare expenses do not exceed GDP growth.

However, in a Wall Street Journal article, it was reported that there was an increase in physicians opt out rate from the Medicare program, the number had risen from 3,700 doctors in 1997 to 9,500 in 2012, commissioning an investigation to the findings.

In spite of the WSJ article, Medicare Payment Advisory Commission (Medpac), reported that even though older doctors are opting out of the Medicare system, more new primary care professionals are opting into the system, according to Blum.

The researchers found that office based doctors made up 90% of those accepting new Medicaid patients, and Medicare patient found doctors in a timely manner. They also found 28% of the 7% of Medicare patients searching for new primary care doctors had a challenging time finding one that accepted Medicaid the year before. These are rates similarly aligned to those of private insurers, said Blum.

Please give us your feedback!
Do these findings raise awareness that agents and brokers make health insurance shopping more affordable?


Source: USA Today

Additional Updates:
  • Assured Life Association/Woodmen of the World: September 2013 Med Supp rate release for AZ, MS, PA and Med SELECT PA. Learn More
  • 2014 Certification with United Healthcare Learn More
  • 2014 Medicare Advantage / PDP Certifications Now Available Learn More
  • UnitedHealthcare Agents: 2014 Proposed Benefit Maps Now Available / Certification Reminder Learn More
  • Medicare Advantage Certifications 2014 Medicare Advantage and Part D Certifications are now available! Learn More
  • Everence Agent Training Webinar Aug 21 - Learn More

Tags: Insurance advisor, Senior insurance, Health Insurance, Medicare Supplement, Medicare News, health insurance industry, insurance companies

Roadmap to excel as an advisor

Posted by Guadalupe Cantu on Fri, Aug 16, 2013 @ 12:48 PM

Medicare SupplementsRunning a business can be a daunting task; even more so, if the business has been running on survival mode for the last couple of years. Everything that has been tried to ensure success has returned nothing but disappointment.

What went wrong? Why is the business only hanging by a thin thread? The business has a marketing plan in place and a large budget to focus on traditional and new media techniques; such as, direct mail, radio, emails, and search engine optimization (SEO). Plus, it offers a wide range of products that the public wants. Yet, nothing seems to work!

For many advisors, it is hard to see that the problem comes from poorly designed marketing campaigns. Too often, advisors are too eager to sell their product. They focus on getting one message out to the masses, and expect to see a great influx of leads to be quickly converted into sales.

Instead, focus on the targeted audience and identify what their needs are. Once this has been determined, then the marketing message and campaigns can be tailored accordingly. Do the same to the other product lines, identify, categorize, customize, and so on. Soon, your hard work will pay-off, and you will see leads building up.

Engage them further, once the prospect has made contact; follow up with a call, invite them to a free event, offer a free report or direct them to informative video feeds on your website. These little actions will help keep the dialogue open and help ease their decision into becoming a new customer.

Just remember by building an effective marketing plan that will allow you to identify prospects needs, match them with the proper product line, and build a system to engage them and follow up, you should be well on your way to the road to excel as an advisor.

Question: Do you feel your business is hanging by a thin thread? Would revamping the marketing approach help your business move in the right direction?

Please give us your feedback!
Do you feel your business is hanging by a thin thread? Would revamping the marketing approach help your business move in the right direction?


Source: LifeHealthPro

Additional Updates:
  • Gerber Insurance: September 2013 Med Supp rate adjustments AZ, IA, MI, OK, SD, TX Learn More
    • September 2013 Med Supp rate adjustments AL, KY, and Med SELECT AL, OK, TX Learn More
    • October 2013 Med Supp rate adjustments CA, NC, ND, OH, PA Learn More
    • October 2013 Med Supp rate adjustments WI Learn More
  • Assured Life Association/Woodmen of the World: October 2013 Med Supp Rate Adjustment for OH, WA, and Med SELECT for OH. Learn More
  • 2014 Cigna PDP Training and Certification - Learn More
  • Everence Agent Training Webinar Aug 14 - Learn More

Tags: Insurance advisor, Senior insurance, Sales Tips, Success Tips, Web Marketing Advice, Web Tips, Health Insurance, Referrals, Creating Value, insurance companies, Advisor

Medicare Encouraging Seniors in Low Rated Plans to Switch

Posted by Lauren Hidalgo on Fri, Nov 09, 2012 @ 10:37 AM

Medicare Supplements Medicare officials have begun sending letters trying to nudge seniors out of the 26 medical and private drug plans that have performed with either a "poor" or "below average" rating from CMS in the last three years. The letter reads, "We encourage you to compare this plan to other options in your area and decide if it is still the right choice for you." Approximately 375,000 Medicare Advantage and 150,000 drug plan members have received this notice.

This is the first time Medicare officials have made an effort to warn beneficiaries about their medical and private drug plans while still allowing the companies to remain operational. They are, however, encouraging people to sign up with different companies other than the 26 plans falling "below average." On Medicare’s finder website those plans are not only marked with a warning sign but are not available to sign up electronically and force the senior to contact the insurance company directly in order to sign up for the plan. Also, in the future, some of these plans may be canceled if their company continues to perform below standards.

Isabella Leung, a Medicare spokeswoman said "We want to make it easy for beneficiaries to find and select the highest quality plans, and discourage people from staying in chronically low-performing plans." However, Robert Zirkelback, a spokesman for America’s Health Insurance Plans, argues that the letter to beneficiaries is premature because the rating system is flawed. He sites that the rating does not take into account plans serving a disproportionate number of seniors who have chronic illness or special needs or who live in otherwise medically underserved areas. He urges, "It’s important to make sure we get the measures right before we move on to these other steps."

Medicare officials understand that some seniors will simply ignore the warning, especially if they are satisfied with their plan, or if the price aligns with their income and their network of doctors. Leslie Fried, director for policy and programs at the National Council on Aging sums up, "If people are satisfied with their plan and it is currently contracted with CMS, isn’t that a decision they should be allowed to make?"

Please give us your feedback!
Do you think it’s the government’s responsibility to let your clients know about the low ratings? Do you feel it will negatively or positively impact your business?


Source: Kaiser Health News

Additional Updates:
  • Forethought Life Med Supp Now Available in MN - Learn More

Tags: health insurance industry, Medicare Advantage News, health care reform, Forethought Medicare Supplement, insurance companies

Introducing Stonebridge Life Med Supp: Now Available

Posted by Lauren Hidalgo on Fri, Jun 15, 2012 @ 09:00 AM

Medicare SupplementsStonebridge Life Insurance Company has released a new Medicare Supplement that's easy to sell, offers incredible affordability, and is backed by the strength of an industry leader. This will be one of the most sought after products for independent agents in 2012.

Stonebridge Life Insurance Company is a Transamerica company with more than 20 markets in the Americas, Europe, and Asia. Currently, Stonebridge Life covers over 3.7 million consumers with a variety of life, health, accident, dental, and now Medicare Supplement insurance plans. They offer quality products with quick response times as well as courteous and dependable service.

Give your clients a Med Supp they can truly count on:

  • Competitive Rates
  • Excellent Commissions
  • Advancing Available
  • E-Application Available
  • A+ Superior 2 out of 16 as of 4/27/11 rating by AM Best

Stonebridge Medicare Supplement states:

California New Jersey
Delaware Oregon
Florida Pennsylvania
Kansas Washington

Stonebridge Medicare Supplement resources:

Underwriting Guide
Company Contacts
Fax Transmittal

PSM encourages independent insurance agents to request information by visiting the link below and/or call 1-800-998-7715 to learn more about the new Stonebridge Life Medicare Supplement product.

Combined Click Here for More Information

Additional Updates:
  • New! Combined Insurance Medicare Supplement - Learn More
  • Stonebridge Life Medicare Supplement Now Available - Learn More

Tags: Medicare Supplement, Medicare News, health insurance industry, Combined Insurance Medicare Supplement, Stonebridge Medicare Supplement, insurance companies

Medicare Mailers - Targeting Turning 65 Prospects

Posted by Lauren Hidalgo on Fri, Mar 30, 2012 @ 12:09 PM

Medicare SupplementsA recent study conducted by Kramer Direct analyzed 53 mailings received by a senior up to eight months before his 65th birthday. They looked at the timing, format, and offers that were sent to him in order to increase the effectiveness of your promotions, communications and strategies with the market aging into Medicare.

The companies who sent information and were included in the study were AARP, Aetna, Bankers Life & Casualty, Blue Cross/Blue Shield, Bravo, Colonial Penn, Humana, Physicians Mutual, United HealthCare, United of Omaha and Health Spring.

Eight-eight percent of the mailers were received between July and December, but the subject got a mailer as early as March. Envelope mailers were the overwhelming majority at 66%; postcards were used 30%; and tri-folds were used significantly less at only 4%. Most of the mailings proposed an offer to grab the prospects attention, with 45% of the mailers promising information or posing a question of interest to the senior.

The study concluded the following:

  • To stand out from the competition and reach prospects before the other offers, it is best to mail six months in advance of prospect’s birthday.

  • It is best to provide a mail-back option, rather than a single postcard with only a call-back option.

  • Questions and new information are the best way to get the prospect’s attention based on the results of the study.

  • Don’t just consider targeting the Turning 65 audience. Many agents have had success targeting ages 66+ to help prospects save money on their current coverage.

Since 1985, Kramer has provided pre-qualified leads to the insurance and financial industries. You can review more on Kramer Direct as well as view some of their current approved mailers by visiting the lead vendor page on our website.

PSM also works with numerous companies that offer free postcards to our contracted agents. To discuss these no cost options, please contact one of our Marketing Representatives at 800-998-7715.

Please give us your feedback!
Do you find these results surprising? When do you typically send out mailers to turning 65 prospects?

Source: Kramer Direct Research and Analysis Study

Additional Updates:
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  • How To Get Started in Medicare Sales - Learn More
  • Heartland National Supply Requisition - Learn More
  • Heartland National First Guardian Cancer Care Brochure - Learn More
  • Heartland National Secure Advantage Hospital Indemnity Brochure - Learn More

Tags: Sales Tips, Referrals, Leads, Heartland National Medicare Supplement, Customer Service, insurance companies

Stonebridge Life Medicare Supplement Now Available through Precision Senior Marketing

Posted by Lauren Hidalgo on Fri, Jan 20, 2012 @ 10:41 AM

Medicare SupplementsPrecision Senior Marketing is now a national distributor of the new Stonebridge Life Medicare Supplement product. Scheduled for release in several states, this product is now available for agent contracting and will be released to the public in April 2012.

Austin, TX January 20th, 2012 -- Precision Senior Marketing (PSM), a national Medicare Broker, announced today that it is now distributing the Stonebridge Life Medicare Supplement product. Scheduled for a broad release, Stonebridge Medicare Supplement brings the financial stability and national brand recognition of the Stonebridge name, to the senior market.

"This is one of the most prominent Medicare product release in years," says PSM President Lucas Vandenberg. "PSM is honored to be a distributor of Stonebridge Med Supp, which we believe will be highly sought after by senior market insurance agents throughout the country."

Stonebridge Life Insurance Company is a Transamerica company with more than 20 markets in the Americas, Europe, and Asia. Currently, Stonebridge Life covers over 3.7 million consumers with a variety of life, health, accident, dental, and now Medicare Supplement insurance plans. They offer quality products with quick response times as well as courteous and dependable service.

"Stonebridge Life is a trusted name in the insurance industry and I am excited about presenting this product to my senior clients," says PSM agent Steve Wilson. "That trust factor, in combination with competitive premiums, is why I anticipate a fantastic reception across the country."

PSM encourages independent insurance agents to visit its website and/or call 1-800-998-7715 to learn more about the new Stonebridge Life Med Supp product.

Located in Austin, Texas, Precision Senior Marketing, LLC is a full-service, national insurance marketing organization dedicated to recruiting, servicing, and supporting the best senior market insurance agents in the United States. You can visit their website at www.psmbrokerage.com.

LL 25605066


Additional Updates:
  • Stonebridge Medicare Supplement - Learn More
  • UnitedHealthcare Mid Year Certification Requirement - Learn More

Tags: United Healthcare Medicare Supplement, Medicare Supplement, Medicare News, industry news, Stonebridge Medicare Supplement, insurance companies

Great New Med Supp Carrier for the Enrollment Period

Posted by Lauren Hidalgo on Fri, Oct 21, 2011 @ 09:36 AM

Medicare SupplementsThe Heartland National Life Insurance Company was founded in 1994 in Lee’s Summit, Missouri. Today, they have sales totaling 20 million which makes Heartland National one of the foremost Senior Health and Life Insurance distributors in the United States. The company has a conservative, no-nonsense approach, with unsurpassed service and quality insurance products for their agents and policyholders.

Heartland National Medicare Supplement is available in many states. They offer plans A, D, F, G, M, and N to all qualified, contracted agents. Plans are affordable and easy to sell with vested commissions and a quick turnaround on policy issue. Their application is a simple yes/no format and claims are usually paid in five days making the entire process quick and efficient.

The Heartland National Medicare Supplement product specializes in helping seniors with fixed incomes because they understand the importance of full coverage supplemental benefits for their consumers. With service exceeding expectations, you can be assured that your clients will have the support they need for their Medigap policy. Plus, Heartland National Medicare Supplement is available in all fifty states, no matter where they purchased their policy. Policies have unlimited lifetime benefits for as long as consumers keep their policy.

With low monthly premiums, the Heartland National Medicare Supplement is very competitive in several states. Be sure to include this economical plan in your portfolio to coincide with your client with fixed incomes. Please contact your marketer at Precision Senior Marketing, 1-800-998-7715, for more information and to get contracted to sell Heartland National Med Supp.

Please give us your feedback!
Have you heard about Heartland National from clients while prospecting? Are you excited to add this product to your senior market portfolio?

Additional Updates:
  • Heartland National Medicare Supplement Contract - Learn More
  • Woodmen of the World Medicare Supplement Rate Increase for Washington - Learn More
  • Gerber Life Medicare Supplement Rate Increase for North Dakota and Washington - Learn More
  • Gerber Life Medicare Supplement Rate Increase for Illinois and Louisiana - Learn More
  • Assured Life/WOW Medicare Supplement Rate Increase for IL, TN, and UT - Learn More

Tags: Annual Enrollment Period, senior market news, Medicare Supplement, Assured Life Medicare Supplement, Heartland National Medicare Supplement, Woodmen of the World Medicare Supplement, Gerber Life Medicare Supplement, insurance companies

MedAmerica Transitions: A New Short Term Care Product

Posted by Lauren Hidalgo on Fri, Sep 16, 2011 @ 09:07 AM

Medicare SupplementsMedAmerica Insurance Company is a subsidiary of a $5 billion not-for-profit health care company that finances and delivers health care to more than 2 million people. MedAmerica has been focused exclusively on providing financial solutions for chronic care situation since 1987. Known for their hassle-free service, strong financial performance, and commitment to improving aging adult’s quality of life, MedAmerica is now offering a new product called Transitions Short Term Recovery Care Insurance.

Short Term Care Insurance is made for when your client’s fall into a difficult time, whether in a nursing home, assisted living, or home care. It allows time for planning and making critical financial decisions between the incident and Long Term Care, if deemed necessary. This product was created specifically for your Baby Boomer clients; it is an innovative product that brings peace of mind to their families in times of crisis.

The Transitions product pays for daily charges up to a capped amount determined by the policy and also has a lifetime pool of money which can be restored after 180 days of not needing care. It offers an inflation option and has a waiver of premium, 21 day bed reservation, or 14 day respite care benefit if necessary. Plus, there is a 10% discount for clients with a spouse or domestic partner, regardless of whether one or both apply for coverage.

The policy also includes the MedAmerica MyCare Program, an optional program available at the time of claim that may not be necessary if the insured has a Long Term Care policy. MyCare provides expert advice, quality care assurance, and enhanced family connection. This benefit is paid out of the lifetime maximum pool, is up to 6 times the daily benefit maximum. The insured can access this when he or she is eligible for receiving payment of benefits.

Transitions has an easy design, process, and application. The application questions are Yes/No with quick underwriting leading to a much shorter decision period. Also, nine month advancing is available. Make sure your portfolio has this option available for when your clients request it.

PSM is excited to launch MedAmerica Transitions Short Term Care Insurance. Give your marketer a call today to get contracted.

Please give us your feedback!
Have you sold a Short Term Care product in the past? What tips do you have for those just looking to expand their business to include it?

Additional Updates:
  • Introducing an Exciting New Short Term Care Plan - Learn More
  • Forethought Launches a New Final Expense: Forethought Freedom - Learn More
  • Assured Life Medicare Supplement Rate Increase for OH - Learn More
  • Woodmen of the World Medicare Supplement Rate Increase for ID - Learn More

Tags: senior market news, Customer Retention, Assured Life Medicare Supplement, Woodmen of the World Medicare Supplement, Forethought Medicare Supplement, insurance companies, MedAmerica, Short Term Care

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