Insurance Market Research, Sales Trends, & Sales Analysis of an Insurance List Compiler of Brokers

Insurance market research of reviewing an agent’s sales trends, and individual sales analysis of performance is a remarkable time and data evaluation to accomplish. Only an insurance list compiler with prior marketing and sales management can perform this market research. The resulting correct list of brokers is gold to an insurance marketing sales company.

Why List Brokers Cannot Help
The is a major difference between obtaining agent names from a list broker and an insurance broker list compiler. The list broker merely looks in his database from a master firm that has available what he thinks the client, the insurance marketing sales company needs. The data from the master firm may have been obtained from telephone directories, licensing records, or any combination of sources. This is still raw data. These are agents, they are not brokers familiar with, and interested in the product or service you are offering. No insurance market research, sales trends, or sales analysis has been done to validate the agents.

Why Insurance Email Names Blasters Cannot Help
I personally did a study or using the same compiler market research insurance email names blasters use to build a list of so call insurance email names. The tool needed is an email extractor program. The software program ranges from cheap to not very expensive, and once setup runs without human intervention. A well-know internet search term like insurance agent is selected, along with a major search engine like Google. The program goes to the first listing looking for each and every email address, without prejudice. This starts the database, which continues running 24/7 until at 300,000, 500,000 or whatever number, then the program is stopped.

My analysis in testing this method showed a 14.1% degree of matching. Each record was checked against the massive database to see if there was an agent connection. The 14.1% reflects matching, and does not mean the agent email names would be accurately delivered. In addition, with email blockers by their internet server company, few will be delivered, let alone read. It is a comment request by market inquirers to get the emails, thinking they themselves can send out the emails. Check the legal snags on opt-in email, and see what you find. In addition, a firm that sells insurance email names would never ever want you to see the terrible quality of the list.

Why Telemarketers Cannot Help
Telemarketers are excellent on the phone, but can only do the best with what they are provided with. Insurance marketers are often eager to find the cheapest or biggest unrefined list to provide the telemarketers with. Since so few of the prime brokers are hidden among the list, it is very time consuming and costly to reach the right ones. So the telemarketers have to fudge, making agent suspects look like prospective brokers to save their obligations. Also, realize the most professional insurance brokers use a cell phone exclusively for running their insurance operations. This means that the home phone could be on the do not call list and the business phone is always on the recorder. A telemarketing cannot help much in this increasingly common situation.

Insurance List Compilers Can Help
Recruiting brokers has never been a numbers game. Therefore spending your money unwisely should also not be a numbers game. This is where the services of a true insurance list compiler come in. Remember the cost of a quality, refined insurance broker name list is reasonable. It is far less that postage, printing, calling, and time wasted using any other method. However, a firm who call themselves an insurance broker list compiler must earn your business. They should have performed massive insurance market research before even recommending a list to you.

Ask to speak to the expert advisor if there is one. Then you can receive straightforward analysis on not only brokers, but also which brokers the sales analysis has shown to be best suited for your offering. You can ask for recommendations, but you may get a lot more than you bargained for. Advice, hints, tips, facts, figures, strategies, and more should all come free without obligation. An insurance list compiler should not immediately ask for your name, address, and a ton of questions so they can constantly pester you. A quality firm relies on repeat business, referrals, and internet recognition. Do not be surprised if they just ask for your first name, so if you call back they have notes to refer to.

Only an experienced insurance broker list compiler had done the insurance market research, including the broker’s sales trend and sale analysis of products sold. It is like adding a member to your staff, for the inexpensive cost of a rewarding refined broker list.

Getting Insurance For a Business – A Handy Checklist

Getting business insurance can be a lengthy process depending on the types of insurance needed and how large the business is. With all the necessary underwriting information readily available, the process of completing insurance applications can be much less time consuming. Here is a short checklist of some of the information that will be needed to apply for business insurance.

Business Details and Basic Information

  • All the names the business operates under including dba’s, affiliated companies, and subsidiary companies
  • The mailing address and contact phone number for the business
  • The legal entity information including tax identification numbers
  • Detailed descriptions of business activities and operations

Business Liability Insurance

  • Current quarterly reports for sales and payrolls are helpful in making projections for the coming fiscal year. Liability rates are determined by either payroll or revenue, depending on the type of business.
  • Have sales and payrolls separated by the type of operations if your business has more than one revenue source. For example, a home improvement store might also have an installation service. Revenues from each operation should be kept separate for accurate rating.
  • The current net worth of the business is helpful in determining a sufficient amount of liability insurance. Standard policies cover up to one million of liability insurance. If the company net worth is higher, an umbrella policy may be needed for additional protection.

Commercial Property Insurance

  • Does the business own any real property? Is the business named on the property deed as the sole owner of the property or is it jointly owned or owned by a holding company?
  • What is the replacement cost estimation the buildings? How long ago was the estimation made and how was the estimation completed?
  • Inventory reports for the business’ personal property are necessary to choose a limit for contents insurance. Values are needed for office furnishings, supplies, computers, equipment and machinery, raw materials, stock, and items held for sale. Values should be reported at replacement cost levels and not as depreciated, amortized,or retail values.

Business Income or Business Interruption Insurance

  • Income statements from the last 24 months should be available to complete the business income worksheet.
  • Expense Reports from the last 12 months are needed to determine which business expenses would continue and which would not if business operations were to be interrupted due to a covered loss.
  • Payroll reports from the last 12 months are needed to estimate how much and for how long payrolls should be continued after a covered loss.

Workers’ Compensation Insurance

  • If you don’t already know what Workers’ Compensation class codes apply to your business, have position descriptions handy to help the insurance company or broker determine the correct classifications.
  • Workers’ Compensation discounts for safe workplace or drug free workplace are available in many states. Are the applications and supporting documents completed?

Commercial Auto Insurance

  • Drivers license information and updated motor vehicle reports for any employees driving company vehicles will be needed, including owners and managers. Checking driving records of employees is not only good risk management but could help prevent problems with the commercial auto insurance application.
  • Vehicle identification numbers for all vehicles are necessary.
  • For trucks, the usage of the vehicle as well as the Gross Vehicle Weight (GVW) will be necessary. GVW can be found on the vehicle title.

Professional Liability/ Errors and Omissions

Professional liability insurance or Errors and Omissions insurance require lengthy applications and often take time to get a quote. Waiting until the last minute to work on this is not a good idea. Items usually needs are

  • List of the largest jobs or projects
  • Average receipts
  • Copies of contracts and legal couments
  • List of claims in the past five years or situations which might give rise to a claim

Being prepared for the business insurance application process not only saves you time and effort, but is greatly appreciated by underwriters. It demonstrates that the business takes the insurance program seriously and that the business management is organized. These are just the qualities insurance underwriters are looking for when approving business insurance applications.

Why Should You Get Insurance?

Comparing the world today from before, there are actually a huge amount of differences starting from the way we live, our outlooks in life, and even the things that we see everyday. Today, technology is widely spreading which causes our daily works easier and more practical. However, despite the fact that these high-technological equipments provide us with a lot of benefits, they are also the primary cause of destruction. Losses such as death, property loss, crisis, and many more factors are increasing as days go by.

Having knowledge about these facts, businessmen thought of a way upon how to lessen their impact on our lives. This is where insurance takes place. Insurance is a company that offers different privileges and benefits which is paid by the client. It is one of the most important things nowadays to have insurance because they may not totally help to avoid accidents still, they will be the one responsible upon the monetary obligations of their clients. Here are some of the main reasons why we should have insurance.

  1. Our family – We’ll never know until when our lives would last. That is why, it is important to have insurance so that we could have an assurance that our loved ones or beneficiaries would be taken care of when we’re gone. Some insurance companies offer educational plans for the deceased children and a lot more. Also, the insurance company would be the one in charge to pay the funeral and burial.
  2. Sicknesses – Another importance of having insurance is that they can be extremely of good help when it comes to hospital stays and medication bills. They also have a specific list of doctors and specialists who could help us on a certain disease.
  3. Our properties – Because of the increasing rate of calamities, or even robbery; we should always make sure that our properties are in good hands. There are several insurances that deal with our investments such as commercial insurance and home insurance.
  4. Car Accidents – When car accidents happen, the insurance company would take care of everything depending upon the cause of the accident. Even though getting insurance is mandatory upon getting a driver’s licence, it is still imperative that every driver should understand every single information with regards to the policies and premiums.

Actually, there is a very long list of reasons on why should we get ourselves insured. It is somehow a requirement to get one because we can never be certain on what could happen in the future. However, it is required that we fully understand every condition and privilege that the company offers. Another thing is, we should always be in a look out for frauds.

The Three B’s of Getting a List of Prospects

A business without a list of prospects is a business in trouble. Getting people to sell to can be one of the biggest challenges you face as an insurance agent or financial advisor. However, there are three ways you can get a list of prospects.

First, I’d like to make one thing clear. The purpose of any lead generation system is to produce a list of prospects that are ready to buy now or soon to be ready to buy. If you focus on prospects like these, qualified prospects, you can’t help but make money. In contrast, if you focus your time and energy on people who aren’t ready to buy now or ready to buy soon you will go broke no matter how hard you work.

When it comes to building a list of prospects there are three ways to get that list.

The first way to get a list of prospects is to buy the list. In reality you are renting the list. There are a couple challenges when it comes to buying a list of prospects.

The first challenge when it comes to buying a list is the fact you can only mail the list you rent one time. That’s why if you rent a list it’s extremely important you follow a two-step process. For the first step your goal should be to do nothing more than generate a qualified lead. Once the prospect responds to your offer then that prospect is on your list so you can mail them as often as you like.

The second challenge with renting a list is the fact you probably don’t know a lot about how lists are generated. You probably don’t have a relationship with a list broker who will focus on helping you rent the best list. Unless you do you probably won’t rent a good list.

Finally, you are required to rent a minimum of 5,000 names when you rent a list. That’s a big problem for two reasons. First, unless you have a tested and proven piece you should never drop 5,000 pieces of anything. Second, unless you mail all 5,000 names you really can’t measure how good the list is or isn’t.

The second way to get a list is to borrow a list. For example, if a local business owner had a list of clients that business owner might let you mail something to their clients. As you may have suspected there are some challenges with borrowing a list too.

First, you might be amazed to know how many business owners do not have a mailing list for their clients. Second, unless you have a client list of equal size most business owners won’t allow you to mail to their clients in exchange for allowing them to mail to your clients. However, some will allow you to mail to their clients if you mail an offer as a ride along in something the business is already mailing and you pay all the postage.

The third and best way to get a list of qualified prospects is to build the list yourself. To build your list set up your own lead generation system to capture and qualify your prospects. Once you have your system in place you will always have quality prospects to sell to.