Insurance Brokerage Marketing Sales Tip - Target Market the Absolutely Best Brokers

Rarely is insurance brokerage marketing sales tips or advice given. Target market the best brokerage brokers only is a sales advice tip. Exposing how to use brokerage marketing for targeting these insurance brokers is detailed here. Not just tips, but the actually steps that insurance brokerage marketing firms must take to ensure targeting the best brokers in this market are properly followed.

About 1,000,000 health and life agents do not broker. Of the remainder, around 480,000 could be considered brokers. Too many insurance brokerage operations focus their sales marketing on any agent, as they do not investigate the few sources that can inform them who the brokers are. The rare firms that can do this sorting are titled insurance mailing list compilers. They have researched and individually put together a listing derived from a multitude of sources. The problems exists for you the marketer in wanting to target market exclusively the best brokers. Well you can, and you will see how.

In compiling the vast agent and broker data market information, a major concern goes far beyond normal. By normal, we refer to the multitude of sources that can provide you name, address, and some phone numbers on the combination of agents and brokers. These by themselves are initially cheap sources that will financially bite you when it comes to getting results. Look at the following information to see how this is costly and not wise.

Say you are a state, regional, or national insurance brokerage marketing firm looking to recruit the best brokers for your new annuity product. The normal list broker or list informs you that there are 28,500 agents and sales brokers in the target state. The researched list compiler determines there are 8,200 annuity brokers. Your budget will allow enough money to target only 4,000 to 5,000 brokers and of course, a smart sales tip would be that these are the best annuity brokers for your product.

Now you can target market the best brokers only.

If fact you will see how you have two different optional ways to do this. If your insurance list compiler has a long experienced background with records going back many years, this feat can be accomplished. The list compiler may know what companies this broker is appointed with. Along with this comes a skill in matching companies' appointments only when possible to an insurance company specializing in selling certain product like annuities. Additionally by scanning through the broker files it can be determined often how many carriers they represent selling a certain product.

Look at an insurance brokerage marketing sales project, like the one mentioned above. Of 8,200 annuity brokers, only 4,000 to 5,000 are wanted, and only the best of the best. Only an insurance list compiler with the proper programming and skills could manage this challenge honestly and efficiently. You will be given sales tips on requesting either of two options, both of which we will look at.

Option 1 - Company Representation

There may be say 10 hot annuity insurance competitors and you want to target market the brokers that are appointed with those carriers. Usually for ethical reasons, a minimum of five insurers are required. An internal program is then run selecting out only those people representing one of the 10 providers requested. Then it makes sure each agent name is only shown once, as it is possible to represent more than one company. Result = 4,023 annuity producers. Mission accomplished.

Option 2 - The Responders

Imagine if you were promoting a $19.99 TV product, and your target list was only of people who had bought a similar product at least three times. Envision how many more sales you would get targeting them, than by just mailing to the general public. Take this concept and now apply it to limited amount of the annuity brokers requested above. The insurance list compiler does a little internal magic. First, the annuity brokers in the state are separated from all the other broker and agent names. Next, a selection is done to only pick out those currently representing three or more annuity carriers. It is the same concept as the list of people deciding to purchase a similar product they bought three times before. Result = 4,985 best of the best annuity responders. Mission accomplished.

Final comments & sales tips

To insurance brokerage marketing sales, a list of top quality similar product producers should be compared to willing, ready, and able insurance leads for agents. If you want to be the best, work just with the best.

Well published author, Don Yerke likes to concentrate on what you don't know or what no one else dares to print. Tell it like it is.

Watch for his new paperback book debuting on Amazon this summer. It is loaded with great insurance marketing, brokerage, sales, and recruiting information.

Come and get your FREE "Think and Grow Rich" Ebook by Napoleon Hill instantly.

The website address is [http://www.agentsinsurancemarketing.com]

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Introduction to Real Estate Insurance for Realtors and Mortgage Brokers

Insurance requirements have become such an integral part of the real estate and loan transaction, they must be included in any comprehensive discussion of real estate finance. Every purchase transaction will require title insurance, and every mortgage will require homeowners insurance. In some situations, lenders may also require flood insurance and/or mortgage insurance. Even purchasers of condominiums and townhouses will have other insurance options to consider.

Title insurance was devised to eliminate most of the problems created by abstract attorneys and the abstract opinion. Title insurers examine all the recorded documents pertaining to a specific property to produce an insurance policy that covers the purchaser, the lender, or both, from any defects to the title. Title insurance policies are now fairly uniform, and the insurance companies have the financial resources to defend and compensate their insured.

Owner's Policy

The owner's policy insures a purchaser that the title to the property was transferred free of any defects, except those which are listed as exceptions. The settlement agent will obtain and record the documents required in the title commitment. In most real estate transactions, the seller will pay for the owner's policy. The buyer pays for the lender's policy and endorsements.

The owner's policy is valid as long as the ownership of the property remains the same. Transferring ownership of the property to another ownership entity, such as a family trust or a spouse by a quit claim deed may void the title policy. Whenever possible, the owner should use a special warranty deed instead of a quit claim deed to facilitate changes in ownership. This will keep the title insurance intact.

Lender's Policy

Often referred to as a loan policy, this is issued to mortgage lenders to protect their interest. Typically, lenders require standardized forms be used. The lender's policy will guarantee the validity of the loan documents, and will follow the assignment of the mortgage or deed of trust when the loan is transferred.

Homeowner's Insurance

Also referred to as Hazard Insurance, homeowner's insurance provides protection against damage to real estate improvements, damage to contents, and liability coverage. Every time a home is purchased with a mortgage, the lender requires the owner (borrower) to obtain property insurance as a condition of the loan closing. This insurance must be maintained until the home is paid off. This is a comprehensive policy that provides coverage for most available perils, including full replacement of improvements, liability, temporary living expenses, outbuildings, and contents. The contents coverage extends to losses away from the premises, such as in a car or storage unit. The insurance premiums are usually included as part of the mortgage payment (the 'I' in the PITI payment).

Flood Insurance

Prior to 1968, flood insurance was virtually unavailable through either the private sector, or the federal government. Until then, the Federal Government attempted to control coastal and river flooding through re-channeling of water, and using dams and levees to restrict the flow of water. The dams had the added benefit of producing hydroelectric power, and providing storage for irrigation. But the increasing cost of these projects, as well as the high cost of flood- related damage, influenced the government to explore offering flood insurance to reduce the disaster related payments. Typically, floods affect entire communities or towns, so the local leaders often looked to the federal government to provide disaster relief for the victims. The question debated by the Federal Government was whether they were better off using their limited funds to provide disaster assistance to flood victims, or to provide federally sponsored flood insurance coverage. Congress realized the government could not keep absorbing the escalating costs to taxpayers for flood disaster relief. This led Congress to establish the National Flood Insurance Program (NFIP) in 1968.

Lenders Mortgage Insurance

Mortgage Insurance is provided to enable lenders to close loans with small down payments. It is usually required when the down payment for a purchase is less than 20%. Mortgage insurance is strictly for the benefit of the lender. In the event of a default or foreclosure, the mortgage insurance company will pay the loss suffered by the lender. Typically, when properties are foreclosed on, the sale price at the auction is less than the current loan balance. This difference (along with the foreclosure costs) is the loss suffered by the Mortgage Insurance Company. Depending on the situation, the MI Company may attempt to recover this loss from the borrower. They can file for a deficiency judgment in court. Mortgage Insurance is provided by both government agencies (FHA) and private insurance companies.

Condominium insurance is a master policy that protects both the condominium association and each individual owner.

Credit Life Insurance

This is insurance that pays off the loan with the death of the borrower. This is basically Decreasing Term Life Insurance, where the benefit amount decreases at the same rate the principal balance of the loan decreases. The beneficiary is the lending institution. Very few mortgage lenders offer this type of insurance, and even less require it as a condition of the loan. However, deeds and deeds of trust are recorded and become public information. Many insurance companies 'fish' this information, and send notices to all listed borrowers. They will send out official looking documents trying to entice the owners to purchase insurance. These offers are not a good value and should be avoided.

Summary

Title insurance protects both the purchaser and the lender for hidden defects in the ownership of the real estate. There are many endorsements that provide the lender additional protection that are charged to the buyer. Even though the seller provides the buyer with clear title, it is the buyer's responsibility to pay the necessary premium to have the lender included in the coverage when purchasing a property.

Landlords and tenants have special insurance needs that should be addressed. Owners of condominiums and townhouses need to purchase contents insurance.

Mortgage lenders do not require credit life insurance. Companies that promote this coverage are predatory companies that should be avoided.

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Independent Life Insurance Brokers Wage War on Life & Health Insurance Providers Reign

For well over a century life and health insurance providers held golden handcuffs on their agents and brokers. Independent life insurance brokers became fighting mad at these insurance providers trapping them inside giant Jell-O molds. This provided independent brokers little flexibility in prospecting, selling skills, choice of clients, and pressed inside a tight income range.

FINALLY, independent life insurance brokers are electing to challenge the insurance companies, seeking independence, and running their personal sales like their own business instead of like a textbook copy of what the company wants. A talented insurance agent quickly learns that the insurance provider needs them, and must offer more to hang on to the producer. An observant health or life insurance broker has over 600 independent insurance company choices to work out a winning combination with.

Sure insurance companies have cast heavy thunderstorm hurdles for the agents to overcome. A very high percentage of agent manpower gets lost along the way. However, each year, a larger group of agents is seeing the rainbow that lies ahead if they manage their own future. These are the independents, heroes to other agents that have not yet mastered the selling skills, or self-determination to join them. Here is some factual data on how the selling field has changed.

ANNUITIES

If you read insurance publications subsidized by major insurance company ads, you would think this is an easy money field. Obtaining the realms of information you need to learn, plus constantly changing sales regulations, disclosures, and mandated features you quickly become a walking encyclopedia. For two reasons insurance companies dominate. First, they write OVER 60% of the premiums themselves (internally), as appointed agents and independent brokers bring in the remainder. A newer agent convinces his client to put his $4,000 in savings into an annuity. The agent is compensated at 5%, $200 for the annuity sale. Instead, had this broker written a $50.00 monthly life insurance policy the provider would have paid out about $400.00.

Before a policy is written, a broker is going to write coverage that is profitable to himself and the the company. Listening to the training of life and health insurance providers, can cost a producer half their income.

The major shift in power from company appointed agents to independent life insurance brokers starting in the year 2000. The individual life market share revealed the following distribution percentages. 48% by Career Company appointed agents. Likewise, independent life insurance agents wrote 48%. The remaining small balance was picked up others, mainly stockbrokers.

Insurance Companies attempted driving most agents out of the business, especially the independent ones who commanded higher commissions. The home office wanted to receive 100% of the profits. With internet ads, phone telemarketing, direct mail bypassing agents, emails, and television ads, they thought they could prevail. After millions and millions of dollars spent on trying to sell insurance without using large numbers of agents, the whip came down. The got back lashed with a severe beating reminder that read, "insurance is a product, filling emotion needs that needs to be sold by human people." A robot, cut out the middleman approach was a burning backfire.

INSURANCE COMPANY REALIZATION - ONE WAY OR ANOTHER

Health and life insurance company providers learned the hard way that business could be obtained by used television, internet, and direct mail advertising to attempt to get consumers to buy from them. Sure they saved a little on commissions, but their high overhead was bombarded by less healthy applicants, poorer claims communication, and less loyal clients. Career agents are enraged when they see their company want to sell insurance without their services. Life insurance broker agents are not in-housed, so they are paid higher commissions to sell the same coverage.

The word became clearer. Cater heavier to independent agents or lose market share. Since 2007 the big shift drifted in. Not only were there sideline marketing efforts not creating new marketing trends, but career insurance companies saw less sales from their own agents. Life insurance sales by captive, exclusive, and multi-line agents combined dropped from 48% in 1999 to 35%. Greatly gaining were the higher skilled and higher paid independent agents, now writing near 58%. Stockbrokers and banks maintain an 8% share, further eroding career agent sales.

Without the direct sales efforts of insurance selling agents, look at this fact. Home offices write less than 30% of life, health, retirement, group, and medical policies. This is why a two step ladder emerged. First the captive career life insurance providers started offering similar products to outside independent brokers at higher commissions. This was quickly trumped by independent insurance companies specializing in smaller product niches. Why not pay everyone the same? Let the career agency start training them, and then take over and show the producer how to really sell and at respectable income levels?

TONS OF INSURANCE BUYERS

If life and health insurance companies could exchange the word "greed" for "need" they would be in a better position. It is a well known fact that 2/3 of Americans do not carry enough life insurance. However most companies twist their agents' necks to focus on the wealthy. Liberty National, a company, you might not know of, is worthy of recognition. Of well over 600 life and health insurance companies, they have written by a wide margin, the largest client base of whole life insurance policyholders.

The top eight term policy writers are NOT known big life insurers Nor do they constantly bombard television commercials with a term life insurance quote opportunity. They know that excessive insurance television advertising to get a quote, or trying to bypass their own agents is unethical. One super-large insurer that got caught trying to entice customers with the lowest rates and enabling phone purchases is in a financial mess. This well-known company is costing the American government and taxpayers, billions of dollars in bailout provisions.

ANALYZE

Most states have around 300 active annuity, health, and life insurers. Here's a few thoughts to toss around. Are you satisfied with your currently earnings? Do agents with the major branded companies really sell more insurance? Could you survive a career switch? Does a term insurance sale provide you with 50%, 70%, or 90+% commissions? How long do you want to wait before becoming a career professional. Could you run a business, yours, or is the guidance you are receiving far too valuable?

It is what your insurance provider can do for you? What you can do for your insurance company? Alternatively, it should be what you can do for yourself and your clients.

Well published author, Don Yerke likes to concentrate on what you don't know or what no one else dares to print. Tell it like it is.

Watch for his new paperback book debuting on Amazon early this summer. It is loaded with great insurance marketing and recruiting information.

Come and get your FREE "Think and Grow Rich" Ebook by Napoleon Hill instantly. The website address is [http://www.agentsinsurancemarketing.com]

Insurance Companies Listings and Ratings Guide For Insurance Agents & Brokers

Here is the newest, revised version of the best insurance companies listings. These are compiled in a top 100 ratings guide format. The listings are in alphabetical order helping insurance agents & brokers locate an insurer. Find out how your opinion compares. How can you possibly rate an insurance company? I will mention briefly the various ways, show you the method I is used for this article, and why.

BY NUMBER OF AGENTS

This ratings guide listing method evaluates the insurer by the sheer number of insurance agents & brokers currently licensed and under contract. with carrier. I feel this evaluation to be worthless for a multitude of reasons. First of all there are a number of career health and life insurance agencies that have thousands of representatives. However, of these,up to 80% of the total agents are relatively new in attempting to establish credibility in the industry. Four years down the line only 6% of many an insurance company agency force will maintain enough production to stay career representatives.

Moreover, my findings uncover inaccuracy of this method due to licensing renewal process state insurance departments impose on the insurer. Most state departments of insurance send the renewal report forms on a yearly basis. There is a fee to be paid by each ins agent renewed. What makes it difficult is the variation of different paperwork procedures by individual states for removing non-active ins reps. The paperwork consists of costly, time consuming forms and procedures for the insurance company to make any changes. Renewing all the sales representatives is often cheaper, and thus the route the insurer frequently takes. This also gives the insurance company bragging rights to how many sales people write for them.

Personally I was shown in state insurance department records as licensed for 11 years after I wrote my last case.

INSURANCE CO FINANCIAL RANKING LISTINGS

There are four or five top independent firms that employ this insurer rating of a company based on a multitude of financial factors. A lot has to do with projecting the financial stability of the insurer. This is accomplished by closely dissecting past and present financial history. It covers how the insurer investments perform, and the rate of return. An insurance evaluation also takes in consideration the amount of cash on hand, and how much exists in reserves to pay present and future claims.

There is a consensus among life insurance association members into believing that the highest rated insurers are the best of the bunch. Yet association members make up less than 12% of the total producer base. The other insurance agents and brokers, (the majority), do not agree that these are always the best ones to use for their client's needs. Logic tells you that a newer quality insurer does not have past history to start out top ranked. In my situation, clients bought what I presented them. Nearly half the time it was NOT the highest rated company by the rating firms. I however sold the client what their emotional needs demanded. Many past insurance companies with rankings in the best 100 later financially failed, and still frequently do in today's world.

BY RANKING OF PREMIUMS COLLECTED

This is a very common type of insurance company listing & ranking to produce. Insurance companies are rated by total number of premiums they collected that year. It seems rather unfair to mix annuity premiums in with all dollars collected. Producers know it is easier to sell a $20,000 annuity than a $20,000 premium term insurance policy. The other fault I find with using total premiums collected is with who actually contributed a chunk of the premiums collected. With some companies an enormous amount of these premiums were not collected by the average sales person. A lot of institutional buyers directly bought hundreds of thousands of dollars of annuity premiums.

BY RATINGS IMPORTANT TO HEALTH & LIFE SELLERS

This is my way. As fair and balanced from an sales representative perspective as feasible. Premiums are collected from the 1,500,000 agents, trying to make a living by selling insurance policies in this industry. Often these sales are done one by one. Plus, of this 450,00 independent brokers, semi-independent agents and some career reps write, depending on which company, 50% to 100% of that insurance co business.

This rankings method is imposed because I find the insurance companies listing is intended to be a beneficial directory. One that independent brokers, semi-independent representatives, along with some career reps can turn to. This is a guide directory to other insurers that you may consider writing production for.

The insurance companies listing and ratings guide to the top 100 is purposely placed in alphabetical order instead of by premium or financial data. You may not agree completely with the listing, because we have left in some companies with a strong percentage of business sold in annuities, and investment products.

In the eyes of a typical health and life broker, this guide is of health and life insurance companies is about as accurate as possible.

1. Aetna 2. AIG Life Insurance Company** 3. Allianz Life Insurance Company of North America 4. American Family Life Assurance Co of Columbus 5. American Fidelity Assurance Company 6. American General Life and Accident INS Co** 7. American General Life Insurance Co** 8. American Income 9. American Memorial 10. American National Life 11. Americo Financial Life And Annuity 12. Anthem Blue Cross 13 Aurora National Assurance 14 Aviva Life and Annuity Company 15. AXA Equitable 16.Bankers Life and Casualty Company 17. Banner 18. Beneficial Life 19. C.M. Life Ins 20. Colonial Life & Accident 21. Columbus Life 22. Conseco Life 23. Farmers New World 24. First-Penn Pacific 25.Forethought 26. General American 27. Genworth 28. Gerber 29. Great American 30. Great-West Life & Annuity 31. Guardian 32. Hartford Life and Accident Ins Company 33. Hartford 34. Homesteaders 35. Indianapolis Life 36. ING 37. Jackson National 38. John Hancock 39. John Hancock Life Insurance Company USA 40.. Kansas City Life 41.. Lafayette 42.. Liberty Life Assurance Co of Boston 43.. Liberty National 44.. Life Ins Company of North America 45. Life Ins Company of the Southwest 46. Life Investors Ins Co of America 47. Lincoln Benefit 48. Lincoln Heritage 49. Lincoln National 50. Massachusetts Mutual 51. Metropolitan 52. Midland National 53. Minnesota Life 54. Monumental Life 55. MONY - America 56. MONY - New York 57. National Guardian 58. National Life 59. New England Life 60. New York Life Ins and Annuity Corporation 61. New York Life 62. North American Co for Life & Health Ins. 63. Northwestern Mutual 64. Ohio National Life 65. OM Financial 66. Pacific Life 67. Penn Mutual 68. Phoenix Life Ins 69. Primerica 70. Principal 71. Protective 72. Provident Life and Accident 73. Pruco 74. Prudential - America 75. Reassure America 76. Reliance Standard 77. ReliaStar 78. Riversource 79. Security Life of Denver y 80. Standard 81. Stonebridge 82. Sun Life and Health 83. Sunset 84. Surety 85. Symetra 86. Transamerica 87. Transamerica Occidental 88. Trustmark 89. U.S. Financial 90. Union Central 91. Union Security 92. United Healthcare 93. United Ins Company of America 94. United Investors 95. United of Omaha 96. United States Life 97. Unum 98. West Coast 99. Western and Southern Life 100. Western Reserve Life Assurance Co of Ohio Note: Sagicor Life, Foresters, and Illinois Mutual should appear on the bottom 3 listings, replacing the companies listed above as #6, 2, and 7.

**AIG Life Insurance Company, American General Life, American General Life and Casualty Comments

This group of companies USED to be one the highest premium generating, and highest ranked insurance companies in the United States. Still, after two massive Federal Bailouts, the future is uncertain. Therefore, AIG Life is no longer deserving of being on this top 100 list guide.

GUIDE TO QUESTIONABLE LIFE INSURANCE COMPANY LISTINGS

The following insurance companies listings often could be included in different types of some top 100 Life ins company rankings IF you were evaluating premiums written. Sometimes the premiums consist of considerable amounts of annuity premiums. Also counted in would be insurers where a large portion of sales do not come from representatives and sales people. Instead it is written by security stock brokerage firms, and independent broker-dealers of variable investment contracts not governed by insurance departments. In other cases, products may be directly strictly toward teachers, the military, or credit unions. In a couple cases, there are companies with pending litigation. A representation of this mix of insurers is listed below:

1. Cuna Mutual 2. Genworth Life and Annuity 3. Harford Life and Annuity y 4. John Hancock Variable Life 5. Mayflower National 6. Metlife - Connecticut 7. Metlife Investors USA 8. MML Bay State 9. Nationwide 10. Nationwide Life & Annuity 11. NYLife of AZ 12. PHL Variable 13. Sun Life Assurance Co of Canada 14. Teachers Ins and Annuity Assoc of America 15. USAA 16. Shenandoah -- financial difficulties

There is a grand total of over 600 Licensed Life/Health Companies "active" in every state of the United States. However, some are not currently writing new business. In addition, there are many active in only one or a few states, so you will find them missing from the top insurance company listings. Most states have a true actual listing count of 220 to 330 life and health home offices currently accepting new cases from licensed agents & brokers.

Advisor's predition. If I choose from the provider listings above, Foresters would be my top pick as the next rising star. Its innovative niche products are starting to create a high demand. Also watch Genworth, its stock value has zoomed and the company is very adaptive to market opportunities.

Well published author, Don Yerke likes to concentrate on what you don't know or what no one else dares to print. Therefore, he enjoys telling it like it is.

Watch for his new paperback book debuting on Amazon early this summer. It is loaded with great insurance marketing. brokerage, and recruiting information.

Come and get your FREE "Think and Grow Rich" Ebook by Napoleon Hill instantly. The website address is [http://www.agentsinsurancemarketing.com]