This is one of those "no-brainers" that has me scratching my head... that is, why don't more insurance agencies employ a telemarketing component to their sales force? Most really good insurance producers are reall good because they can "connect with people" - they can build relationships AND close the deal...imcompatible skills with that of a telemarketer. So why do most agencies expect their producers to be both cold-callers AND deal-closers? Good question.
Being the largest search firm specializing in insurance sales on the East Coast and listening carefully to hiring authority feedback, we have a unique insight into what makes the great insurance agencies GREAT and the mediocre insurance agencies....well, not so good. Try revenues down 40% year over year. What is the critical factor between the winners and the losers? Simple: Telemarketing.
The great agencies "get it". One agency (that will go unnamed) has five full-time telemarketers who continually set up pre-qualified meetings for their producers. How good are these meetings? Try 2.75:1 closing ratio...not bad - industry average is 5:1...and in the soft market we are now in - forget about it! And morale is at all time high as the producers are out doing what they like best...meeting people and closing deals.
How do they keep the telemarketers honest and setting up good meetings - easy, the producers rate the appointments and compensation for the telemarketers is based, in part, on quality appointments. Producers in this particular office are getting between 8 - 10 qualified appointments per week. Wow.
Moreover, some are using the telemarketer position to hire entry level candidates in the hopes of growing a few good producers. Nice.
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