Archive for the ‘Insurance News’ Category
CALLING IT QUITS
Mike Modano, the star forward for the Dallas Stars hockey team, has probably played his last professional hockey game. I was one of the fortunate few to be in the stands for his last Home game appearance. What a night to remember: Modano had an assist on a goal, scored the game tying goal late in the 3rd period and scored a goal in the overtime shoot out to win the game against his nemisis the Anaheim Ducks! Talk about a story book ending to a career….. And a perfect end to a career spent with one organization for his entire career, playing key roles as leading scorer, team captain and mentor and elder statesman in the locker room as his career ended. A truly humble player and man, Mike gave back to hockey and the community; generous with his time, money and talents, the city of Dallas is better for his involvement over the last 16 years. The Dallas Stars have some mighty big skates to fill with Mo’s departure.
In our careers, we’ve all know a few Mike Modano’s. People that embody the spirit of our company, contributing at the highest level, team players, always encouraging those around them and bringing out the best performance of others through their example in action. You just can’t imagine how you’d survive without that person! Unfortunately, most organizations don’t plan ahead in anticipation of key personnel eventually leaving. Do you as a business owner have key personnel that you depend on to carry the load? We all do, but do you have a plan on how to move forward if/when they leave? Succession planning is usually way down the list of strategic planning activities, but it is vital to the sustained growth of an organization that you have a plan for replacing key employees. To keep your company vibrant, forward thinking and prepared, having a potential talent pool of internal or external resources is not only smart, it will save you and your organization a lot of heart ache when the day comes for a key employee to be replaced. As a owner/manager, it’s important to recognize the Modano’s in your organization and look ahead on how to deal with the void after their last “game”.
TUMBLING DOWN
Ever hear the John Mellencamp song “Tumbling Down”? That’s what I thought of when the old Texas Stadium in Irving, TX was demolished recently. Being a native of the area and a huge Cowboys fan as long as I can remember, I could not convince myself to join all those who watched in person or on TV the destruction of a place that held so many memories. Landry, Staubach, Lilly, Aikman, Irvin, Smith, the Ring of Honor, NFC Championship games…. The list goes on and on. And yes, I do believe the hole in the roof was there so God could watch His team play! What was once a state of the art facility featured in numerous movies and mesmerized Sunday football viewers on TV, had, over the years, suffered from age, neglect and a public that demanded new heights of technology to keep their intrest. No lingering, slow demise for this former showcase, Jerry Jones, the eternal promoter, made Texas Stadium’s last hurrah another money making deal. It was even sponsored by Kraft Foods (I don’t get it… but they ponied up the cash, the single largest requirement). Faster than you can say “Kraft macaroni and cheese”, Texas Stadium disappeared in a cloud of dust, soon to be a distant memory of those who will remember her in her glory days!
Yes friends, even those monuments that seem indestructible on their christening day, have their eventual fall from favor and are replaced. So it is with the tools we use to run our business. Technology changes constantly, computers and communication systems require constant review and the software we use to manage our data is always undergoing tweaks and updates. Over the next few weeks and months, you will be receiving notices of important enhancements to the AgencyIQ operating system. Future blogs and newsletters will detail these enhancements that will make your lead management efforts more effective, efficient and increase your book of business. AgencyIQ is committed to delivering to our clients the tools you need to grow your business. Please look for these announcements and let us know what you think!!
Viva Las Vegas
Viva Las Vegas
It’s been quite a few years since my last trip to Vegas…. BOY HAS IT CHANGED! At some of the hotels and resorts, I thought I was at Disney World…. They have really marketed to a “family” experience. Bugsy Siegel and the original Vegas mobsters must be spinning in their graves! Upscale shopping, spas, amusement rides, arcades for the kiddos… where were the smoked filled, dimly lighted casinos, with booze flowing and an edge of danger in the air? The only danger I saw was from all the helpful customer service employees falling all over themselves to help you find the nearest Starbucks counter at the hotel!! The “Rat Pack” wouldn’t stand a chance in today’s Las Vegas…
I would like to share a few moments from my trip; this was to celebrate my youngest son’s 21st birthday. My other son (24yrs) and my cousin were along as well. An early flight has us in Vegas at 7:20am… a quick breakfast and out to Hoover Dam. Then, hit the casino’s!! My oldest learned quickly why there are so many “nice” casinos in Vegas, he lost 75% of his “entertainment” funds in about an hour. Round 1 to the casino. The boy’s room was not ready at check in, so after a 4 hour delay, the room was ready and they were “comped” an upgrade to “resort status”….. wait a minute… whose name was on the credit card for the room? Round 2 to the casino. Later that night, Texas Hold’em and up a few hundred bucks. Round 3 to Marcus. The next day, the best $75 I spent the whole trip: Indoor Skydiving!! All I can say is WOW… I’m doing the real thing later this year, awesome. That night, it was guys night out on the town. Ever see the movie “Old Hogs”? What is up with today’s youngsters? Both young guys were in bed by midnight, the “old guys” stayed out til 4:00am, got up at 7:00am, went to Denny’s (is there any place else?) and then got new tattoos ink in (6 hours of needle work.. ouch!) The young guys stayed in bed ‘til noon and then laid around because they were “tired”…. Seriously, this should be renamed the “Tired Generation”. At 24 and 21 years of age, I wouldn’t have slept for 3 days!! Another interesting phenomon takes place on the sidewalks of “The Strip”. Starting at 3:00pm, there are groups of 10-12 men in brightly colored hoodies standing along the sidewalk, slapping business cards in their hands, trying to get your attention and hand the card to you. Distracting and disgusting, they are the marketing force for the “private entertainment” industry, with full color photos of the personal services available. In spots it looked like there had been a ticker tape parade! The old mobsters would be proud of these guys! New tattoos aching, I try to teach my cousin how to play craps…. It’s a love/hate relationship… the dice table, not me and my cousin! While at the craps table, my youngest “figures out” roulette…. a collective few hundred dollars later, he “figures out” the law of averages is a cruel mistress! Round 4 to the casino.
What does this have to do with lead management or insurance? Nothing really… every once in a while, we all need to take a break and refresh/renew ourselves! If you chose to do it in Vegas, I have an addition to their marketing line: “What Happens in Vegas (and your $$$$), Stays in Vegas!
Healthcare Reform 2010
Healthcare Reform?
The real question I pose to each of you is this: How does this impact you as an individual, a family, an employee or as a business owner? Hmmmmmm…… Do you bury your head in the sand and “hope” it will all work out, or do you stay engaged in the debate and educate yourself in how to respond to this significant change in our lives?
As a member of the insurance industry, the Healthcare Reform Bill WILL IMPACT YOUR BUSINESS!It doesn’t matter if you are involved in health insurance specifically. People are going to be required to acquire healthcare insurance at some level and cost. This will create tremendous opportunities for you as an insurance provider. You can now create education and informational marketing, email, website and blog campaigns to assist existing and potential new clients understand how to manage their insurance resources. Families are going to be reviewing how, where and how much they are spending every month on ALL insurance coverages be it home, auto, life or health.
Now is the time to begin developing those strategies and presenting pro-active steps to your existing and potential new clients in addressing these new challenges! Let AgencyIQ assist you in this area by utilizing our state of the art lead management program that features extensive email functionality to stay in contact with new clients as you move from introduction to closing the deal!
Hidden Dangers
I noticed on the Internet yesterday that President Obama’s results from his first health check up as Commander –in-Chief were released. Good news! President Obama was declared in “excellent health” by the examining doctors. The 48 year old Obama reportedly works out 6 mornings a week, plays basketball regularly and appears to be the picture of good health. Read further into the report and you discover he has tendinitis of the knee, borderline high cholesterol (total cholesterol at 209, with the “bad” LDL cholesterol very high) and has yet to stop that persistent, lingering cigarette habit! I wish President Obama well in his efforts to reduce his cholesterol levels and kick the cigarette habit.
But this does bring to mind two thoughts regarding how we determine how “healthy” things are in our lives. The first thought relates to the health of your clients. Not just their physical health, but their insurance coverage health. Do you let them come to you if they feel like they need a coverage review every 5-10 years or are you proactive, providing them an annual review of their coverage’s? Do you bring them current information on policy updates or coverage changes that could impact them negatively if an accident occurs? I would encourage you to build a lasting bond with your clients by providing those services and help them understand you are truly interested in their welfare.
The second thought relates to the relative “health” of your business. When was the last time you gave your business a check up? Do you just figure everything is “good to go” as long as nothing breaks down? Do you schedule a periodic review of your business practices, new trends in the market, changes in the economy or society that could impact the health of your business? Being aware of changes and trends early on will provide an opportunity to address those issues and make any necessary adjustments or changes to ensure the continued good health of your business.
The bottom line is this: we all have small, hidden areas of our “health” that can be addressed. If you ignore those areas, then potentially BAD KARMA will ensue. On the other hand, if you investigate, discover and address those areas for improvement…. Odds are the GOOD KARMA will continue to follow you! AgencyIQ wants to help you with those GOOD KARMA opportunities. Give us a call or look us up on the Internet at www.agencyiq.com and see how our robust, proactive lead management and email marketing programs will bring the GOOD KARMA to your agency!
Leveraging Technology to Work Less and Earn More
As an insurance agent, keep in mind that one of the most crucial factors to the success of your business is lead generation. This is the lifeblood for long term growth and profitability. The question for many agents is how do you find leads and develop a reliable source for potential new clients?
According to a comScore 2009 online survey, 63% of respondents went online for an auto insurance quote. In one month alone, there were 31 million searches connected to insurance quotes (Google keywords-July 2009). Given the impact of Internet online shopping and information compilation by consumers, it only makes sense that this percentage will keep expanding in coming years.
Using the Internet to acquire leads is a powerful tool for an agent. By harnessing the power of the Internet via an Online Lead Provider, you dramatically better the number of meaningful contacts with qualified prospects for your agency.
Here are a few tips to ensure developing a successful partnership with an online lead source:
- Real Time Leads – prospects that are actively requesting a quote.
- 24/7 Control of Leads – you should have the ability to manage your leads online. The ability to add and remove holds on leads and access to lead profiles for adjusting your filters and volumes maximizes your results. Receiving leads when you are not able to work them will only result in frustration for you and the clients.
- Lead Quality & Volume – critical issue; you want to use a lead provider like InsuranceLeads.com that has an excellent reputation for filtering the highest quality, volume leads.
- Oversold Leads – make sure your provider caps the number of times they sell a lead at 8 times; this is the industry standard. Most leads are not sold this many times, so you should ask your account representative for more precise information. Remember leads are also sold to your competition, so the fewer sells of each lead, the better you conversion will be.
- Liberal Credit Policy – bad leads will slip thorough no matter how vigilant the provider. Make sure your provider has a liberal, quick response, easy to use credit policy.
- Dedicated Account Reps – at critical times, it’s important to have a single point of contact that knows you and will provide excellent customer service.
- Utilize a Lead Management System- lead management systems help to automate the process of immediate response, follow up and keep you on track with your work flow. Combining AgencyIQ with your Insuranceleads.com leads will increase your close ratios over 20%! Quality leads and a quality follow up system make online leads work!
When you as an agent make the choice to use an Online Lead Provider, you are opening the door to taking your agency to the next level of performance. Teaming with a quality lead provider like InsuranceLeads.com and a lead management system like AgencyIQ, will provide you with powerful tools to automate client contacts.
AgencyIQ and InsuranceLeads.com have partnered together to create an informational webinar regarding the importance of technology in the insurance industry.
View the video: Learn the Benefits of Leveraging Technology to Work Less and Earn More.
QUALITY ONLINE LEADS + LEAD MANAGEMENT SYSTEM = HIGHER CLOSE RATIOS
WHO DAT?
Who dat….. if you are even faintly familiar with the NFL playoffs this year, you know that is the refrain of New Orleans Saints fans and their 2010 Super Bowl bound team. I’m writing this blog in advance of the game because for me, the real story is not who wins the game, the Saints or the Colts. The real story follows two different, but related story lines. The first story is the saga of the Manning family; Peyton- the older brother QB of the Colts and Super Bowl winner, Eli- little brother QB of the Giant and Super Bowl winner, and Archie- father and long time fan favorite of the Saints from 1971-82. Archie still resides in New Orleans and is actively involved in the community. What a dilemma for Archie….. does he cheer for his son Peyton or his long suffering Saints and the community who still reveres his sacrifices and spirit from his years leading the Saints.
The second story line is this amazing Saints team, lead by Drew Brees, their prolific passing QB. Drew is the identity of the Saints. He has provided the leadership, confidence and “anything is possible” attitude that’s been infectious not only with his teammates, but the entire New Orleans community. In the aftermath of Hurricane Katrina, Drew, along with a number of his teammates, returned to his ravaged city and actively participated in rebuilding. Drew’s leadership on the field and off serves as an inspiration to all who know him.
We have the examples of a father who was a city’s favorite son, the children that grew up in the community and still have ties, and a new QB who has caught the spirit of a city and is an inspiration of hope and achievement, much like a predecessor 35 years ago! So…… who wins here? EVERYONE!
Now stop and think about your leadership role…. your family, your business and in your community. What are you doing to inspire, help, motivate or improve the lives of those around you? Leadership does not mean always being in front or in the limelight, it can be as simple as providing a good example by your actions. Building these positive leadership qualities will lead to raised expectations and improved results in your personal life, business environment and community activities. So, when the question arises “Who dat?” will you be one of the first mentioned? I hope so….. the rewards are immense!