Building Wealth Through Quality Business

TMK1536 092910 Agent training only. Not for sales use.

Building Wealth Through

Quality Business



Recap of Changes Impacting Quality

•Increasing Direct Pay on Section 125 Worksite cases

•Increasing max amount of direct pay per policy

•Increasing AP per sale with Laptop implementation

But at the same time…

•Increasing impact of poor DCN & Persistency on direct pay including total loss of direct pay

•Increasing impact of poor DCN & Persistency on ability to earn bonus


Where we are at & where we are going…

As of Nov. 25, 2012

DCN: 10%

4-Month Persistency: 86%

13-Month Persistency: 62%


Where we are at & where we are going…

Goal for each branch moving forward

DCN: 6% or less (15)

4-Month Persistency: 93% or more (8)

13-Month Persistency: 75% or more


What’s in it for you?



Employee BM, $10k/wk, 10% Growth

Renewals over the next 10 years

BM with 75% 13-month persistency

makes $65,190 more vs. BM with 63% 13-month persistency












Ind. Contractor BM, $10k/wk, 10% Growth













makes $1,081,574 more vs. BM with 63% 13-month persistency


It’s not how much you write, it’s how much you keep.



And that’s just renewals.What else does quality

business impact?



So how do you protect your wealth?



Quality Control Manager



Quality Control Manager Profile – Who are you looking for?

•Experienced administrator or Agent with good work habits but not strong prospector

•Great organizational skills

•Strong product and underwriting knowledge

•Strong phone, email, and spreadsheet skills

•Doesn’t have desire to be liked by Agents or Managers

THIS PERSON IS NOT A UNIT MANAGER!!


Quality Control Manager Duties

•Review applications in the portal

• Change apps to trial/cancel apps

• Make bank verification calls

• Make internal QAC calls to applicant

•Follow up on Pending Business (CODs, QAC, Medical Records, Oral Swabs, etc.)

•Call Worksite clients to verify deductions started, first bill received, first bill paid

•Call past due worksite cases

•Analyze Qlikview data

•Train agents on recurring issues


Ideas on how you pay Quality Control Manager

•Hourly rate

•Bonus for each point better than company average on DCN and 13-month persistency


Conservation Agents



Conservation Agent Profile – Who are you looking for?

•Agent with good work habits but not strong prospector

•Great organizational skills

•Calm demeanor to deal with customers

•Strong phone, email, and spreadsheet skills

•Ability to drive your entire territory

•Doesn’t have desire to be liked by other Agents


Conservation Agent Duties

•Reinstate lapsed policies

•Move Payroll Deduction customers to bank draft ($6 MM)

•Travel to customer home/worksite to collect paperwork, signatures, swabs, etc.


How Conservation Agent is paid

•Reinstatement bonus

•Writing additional business while reinstating policies

•Renewals

•Build a team and supervise Agents


Portal Usage



Are we utilizing the portal?

•Last two weeks 4,500 submitted apps

•39% of the apps have been viewed

•Last week, 11 BMs did not view any apps

•15 apps cancelled

•11 apps changed to trial


We Don’t Accept

• Prepaid cards such as Metabank, Green Dot, NetSpend (14 or 16 digit account numbers) or Chase Liquid


Coming Attractions



Coming Attractions…

•Quality Playbook

•Torch Magazine recognition

•Reinstatement bonus test … Who is committed?

•Quality School March 6-7, 2013

Documents

Building Wealth Through Quality Business