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...dius of operation? Is there a hired/non-owned exposure? The symbol on ...8220;7” (specifically described autos) with the agent’s approval. ...

... out that it wasn't bragging. It was telling our story. We do offer great service. We do go the extra mile for our clients. To do this, we needed to have someone on staff who would make certain that our story went out to clients and potential clients through all the social media available to us. Tim came through again, ' Paul continues. He recommended that we hire a blogger who was young and understood social networking. We knew a bright, young talent, William Bernardinelli, or Billy the Blogger' as we call him. He is the son of one of my best friends and had worked here part time in the summer and after school. Now he's with us full time and is responsible for keeping our message out in front of the public. ... started selling Life insurance, but quickly moved to Property/Casualty, which was a better fit to his personality. He established Paul T. Murphy Insurance Agency, Inc., in his home town of Malden, Massachusetts, a suburban town four miles north of Boston. Most of his business came from Personal Lines in a state that, at the time, was notorious for having the highest Auto insurance rates in the country. (In some years, New Jersey competed successfully for that honor.) The state set rates and company representation. An agent needed to learn 12 coverages and there was no concern about discounts. There really weren't any. You could combine the coverage with Homeowners and a Personal Umbrella, and the insurance company would say, Thank you very much' and add ...

... larger starting salaries. How does the average independent agency or insurance company compete with such immediate riches and the opportunity for even greater rewards in the future? Unfortunately, the diminishing pool of viable candidates has come at a time when the independent agency system needs intelligent, energetic, automation-savvy people. In some parts of the country, agencies are so desperate for customer service representatives (CSRs) that they're hiring anyone who's breathing. Producers are brought in even though they score poorly on sales aptitude tests or have already failed at several other agencies. Desperation will often cloud good business judgment, leading to bad hires. An empty desk is better than an employee who pulls down the rest of your staff, adversely affecting sales and productivity. FINDING GOOD CANDIDATES At this point, it's probably better to forget ... the $720,000 in producer-related commissions at 37% . This is the overall level that the agency can afford to pay producers. Generally, the range will be from 27% in agencies with heavy sales support services to 40% in agencies with only the basics. Note that if there's a change in the amount of house business, the targeted profit, expenses, or reimbursed travel, auto, or entertainment expenses, this percentage can be significantly different. Note also that with the exception of the amount allocated to management payroll, the agency principals' compensation has been included in this sales compensation calculation. In most urban agencies and even in many rural firms, the principals have decided to provide greater rewards for selling new business than for maintaining an existing book. Rather than pay 30 ...

... (0 ) Common Mistakes In Selecting Salespeople This content has not been rated yet. CompleteMarkets Editor 4/30/2013 10:39:13 PM COMMON MISTAKES IN SELECTING SALESPEOPLE These points from Boardroom Reports were taken from a talk by Dr. Arthur Witkin, chief psychologist at Personal Science Center, New York. These are basi.. All Articles by CompleteMarkets Editor Comments (0 ) How To Hire A Producer This content has not been rated yet. CompleteMarkets Editor , Peggy Mika 4/30/2013 10:42:47 PM HOW TO HIRE A PRODUCER by Peggy Mika Agency principals must define positions when they set out to hire new producers. Are producers expected to bring in new business, service or round existing accou.. All Articles by CompleteMarkets Editor Comments (0 ) Overcoming Objections ... Module Iv-A This content has not been rated yet. CompleteMarkets Editor 4/30/2013 10:40:32 PM OVERCOMING OBJECTIONS: MODULE IV-A Life insurance must be sold-it is seldom simply purchased because it's needed or mandatory, like Auto insurance often is. And any time you sell, you'. All Articles by CompleteMarkets Editor Comments (0 ) Sharks Wanted: Hiring Great Salespeople This content has not been rated yet. CompleteMarkets Editor , Chris Burand 4/30/2013 12:00:00 AM SHARKS WANTED: HIRING GREAT SALESPEOPLE by Chris Burand Find the best sharks and train them to be even more effective predators. We dont want the people who .. All Articles by CompleteMarkets Editor Comments (0 ) x No Thanks Loading.. Loading.. x No Thanks Loading.. ...

... A Telemarketing Department 4/30/2013 10:40:52 PM by CompleteMarkets Editor This content has not been rated yet. &# 160 ESTABLISHING A TELEMARKETING DEPARTMENT You need to make two more decisions once you have definitely decided to set up a telemarketing unit within your agency. The first is whether your system will be automated or manual. The second is the number of telemarketers you will hire. Automated or manual? This decision will greatly affect your budgeting, hiring, training, and monitoring efforts. Currently there are several software systems on the market designed to automate your telemarketing system. The software performs many functions for your telemarketers. The simpler systems store prospecting information; more complex ones may track every telephone call from the first dial to the sale. You can monitor how many ... device that dials either pre-programmed or randomly selected numbers (within a certain area) . The machine plays a pre-recorded message asking for an X-date or appointment, then allows time for the prospect to leave a message. Although this may seem too high-tech without any high-touch, these systems have worked for agents. One IMMS member agent had to disconnect such a machine after a few weeks because he had more Auto X-dates than his staff could handle. But most agents will choose the more conventional approach and hire people to do the agency's telemarketing. Here's a method for calculating how many people you'll need: 1. Determine the size of your marketplace. For example, say you want to contact 20,000 clients or prospects. 2. Now, figure there are 260 working days in the year, ...

... million per Accident Includes Hired and Non-owned Auto Liability Coverage... RECOMMENDED OPTIONAL COVERAGES HIRED AUTO PHYSICAL DAMAGE ...

... x No Thanks Loading.. Establishing A Telemarketing Department 4/30/2013 by CompleteMarkets Editor This content has not been rated yet. &# 160 ESTABLISHING A TELEMARKETING DEPARTMENT You need to make two more decisions once you have definitely decided to set up a telemarketing unit within your agency. The first is whether your system will be automated or manual. The second is the number of telemarketers you will hire. Automated or manual? This decision will greatly affect your budgeting, hiring, training, and monitoring efforts. Currently there are several software systems on the market designed to automate your telemarketing system. The software performs many functions for your telemarketers. The simpler systems store prospecting information; more complex ones may track every telephone call from the first dial to the sale. You can monitor how many ... device that dials either pre-programmed or randomly selected numbers (within a certain area) . The machine plays a pre-recorded message asking for an X-date or appointment, then allows time for the prospect to leave a message. Although this may seem too high-tech without any high-touch, these systems have worked for agents. One IMMS member agent had to disconnect such a machine after a few weeks because he had more Auto X-dates than his staff could handle. But most agents will choose the more conventional approach and hire people to do the agency's telemarketing. Here's a method for calculating how many people you'll need: 1. Determine the size of your marketplace. For example, say you want to contact 20,000 clients or prospects. 2. Now, figure there are 260 working days in the year, ...

... 500 homes, each requiring 12 different marketing messages about your products and agency. Even at the lowest possible cost, this will require 36 reams of paper and approximately $ .04/copy for documents printed on your color laser printer. The paper and copy costs will come to $1 ,440. Although you can create the messages yourself (at no additional cost), you'll need to hire someone to deliver the items to each door. That estimated cost is $4 ,500 (far less than mailing and much more likely to be read) . Figure your "dead" costs at around $6 ,000. Because the value of a Homeowners policy sold from the selected neighborhoods is $110 of revenue to the agency, you'll need revenue from 55 new Homeowners customers ( ... that you don't write any of their other business) . If your agency's Personal Lines policy/customer ratio is 1.5 (primarily Auto/Homeowners), you can expect 1/2 of your new customers to buy Auto policies from you, adding another $150 revenue per policy for 1/2 of your customers (or $75 additional revenue per policy on average for all new customers) . At an expected revenue of $185 per customer, you'll need only 32 new customers in one year to recoup your "dead expenses." Since your Personal Lines closing rate is 33%, you'll need to quote approximately 100 prospects in order to write these 32 customers. The time to deal with those extra prospects will come to approximately 50 CSR-hours (or $769 of acquisition costs) ...

...urance agency staffs. We've always hired for presumed insurance knowledge-rare...

... employee.. All Articles by Don Phin Comments (0 ) Employee Evaluation This content has not been rated yet. CompleteMarkets Editor 4/30/2013 10:38:56 PM EMPLOYEE EVALUATION INTRODUCTION While the job description is the basis of the employee evaluation, the evaluation also affects the job description, helping to keep it flexible an.. All Articles by CompleteMarkets Editor Comments (0 ) Follow Smart Hiring Practices This content has not been rated yet. CompleteMarkets Editor , Marcus Covas 4/30/2013 12:00:00 AM FOLLOW SMART HIRING PRACTICES by Marcus Covas These hiring guidelines can help protect your business against the growth industry of employment-related litigation. Today, .. All Articles by CompleteMarkets Editor Comments (0 ) Getting Back To Business' This content has not been rated yet. Jack ... tragic events of September 11 will have long-lasting effects on the many aspects of our business, not the least of wh.. All Articles by Jack Burke Comments (0 ) One Source Warehouse Stocks Only Drug-Free Employees This content has not been rated yet. CompleteMarkets Editor 4/30/2013 10:38:56 PM ONE SOURCE WAREHOUSE STOCKS ONLY DRUG-FREE EMPLOYEES WORKING PARTNERS One Source Warehouse is a wholesale auto parts company in Houston, Texas, owned and operated by the Albee family. The Albees.. All Articles by CompleteMarkets Editor Comments (0 ) P.R.: Separate Fact From Fiction This content has not been rated yet. CompleteMarkets Editor , Michael Maynard 4/30/2013 10:42:47 PM P.R.: SEPARATE FACT FROM FICTION by Michael Maynard Public relations is often improperly or ...