|
What do you find to be the most challenging aspects of selling insurance? |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
< $50k |
$200k> |
|
Prospecting for new business |
73% |
51% |
Clients don't recognize need for insurance products
|
33% |
20% |
|
Consumers have negative opinions of insurance industry |
24% |
25% |
Getting a product through underwriting to issuance
|
19% |
28% |
|
Successfully making the sales close |
16% |
5% |
Getting products issued for clients with substandard health
|
13% |
17% |
Competing with other insurance professionals in my area
|
12% |
12% |
Applications are too long/confusing
|
9% |
16% |
Understanding insurance products
|
8% |
12% |
Administrative demands of running a business
|
8% |
24% |
|
Lack of support from insurer |
7% |
9% |
Making a client sales presentation
|
4% |
3% |
Clients prefer other financial products
|
4% |
6% |
Obtaining the right rating for the consumer
|
4% |
6% |
Lack of support from wholesaler/marketing organization
|
4% |
5% |
|
Other |
4% |
7% |
What do you find to be your most valuable sources of training?
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||| |
<$50k |
$200k> |
Company-sponsored training
|
47% |
38% |
|
Continuing education courses |
40% |
38% |
|
Mentor (someone you do not pay) |
36% |
23% |
Insurance company-sponsored seminars
|
34% |
37% |
Other agents
|
31% |
32% |
Brokerage agency
|
24% |
22% |
Trade publications
|
17% |
23% |
Webcasts
|
16% |
11% |
Training materials you purchase
|
7% |
9% |
Personal coach (someone you pay)
|
3% |
7% |
|
Other |
2% |
6% |
On average, how many hours per week do you dedicate to your insurance/financial services profession?
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||| |
<$50k |
$200k> |
5 or fewer
|
10% |
5% |
6 to 10
|
10% |
7% |
11 to 20
|
14% |
4% |
21 to 30
|
21% |
2% |
31 to 40
|
21% |
19% |
41 to 50
|
19% |
30% |
51 to 60
|
4% |
24% |
|
61 or more |
2% |
9% |
What do you find to be the most effective method for prospecting for new insurance clients?
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||| |
<$50k |
$200k> |
|
Referrals |
58% |
67% |
Leads purchased from lead company
|
11% |
5% |
Leads provided by brokerage agency
|
10% |
1% |
Cold calling
|
6% |
5% |
Strategic alliances with attorneys, CPAs, or other financial professionals
|
4% |
9% |
Seminars
|
3% |
5% |
Internet
|
1% |
1% |
Yellow Pages advertising
|
1% |
0% |
Local radio/television advertising
|
1% |
1% |
Local newspaper advertising
|
0% |
1% |
|
Other |
5% |
5% |
What professional organizations do you belong to?
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||| |
<$50k |
$200k> |
None
|
31% |
6% |
|
NAIFA (National Association of Insurance and Financial Advisors) |
22% |
44% |
|
IIABA (Independent Insurance Agents and Brokers of America) |
9% |
14% |
|
AALTCI (American Association for Long-Term Care Insurance) |
7% |
4% |
CSA (Society of Certified Senior Advisors)
|
5% |
4% |
FPA (Financial Planning Association)
|
5% |
16% |
Benefits Marketing Association
|
2% |
3% |
IARFC (International Association of
|
1% |
2% |
Registered Financial Consultants)
|
1% |
16% |
MDRT (Million Dollar Round Table)
AALU (American Association for Advanced Life Underwriting) |
1% |
3% |
GAMA International
|
0% |
2% |
|
Other |
31% |
35% |
In the past 12 months, how many insurance industry events (conferences, seminars, etc.) have you attended?
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||| |
<$50k |
$200k> |
|
0 |
20% |
7% |
|
1 |
18% |
13% |
2
|
22% |
25% |
3
|
19% |
18% |
4
|
9% |
13% |
5
|
4% |
6% |
|
6 or more |
8% |
17% |
Where is your office located?
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||| |
<$50k |
$200k> |
In my residence
|
56% |
11% |
Brick and mortar office (outside of residence)
and shared with other agents
|
30% |
44% |
Brick and mortar office (outside of residence)
in which I am the only agent
|
11% |
44% |
|
Strictly mobile with no office |
4% |
1% |
What best describes your successorship plan?
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||| |
<$50k |
$200k> |
I have no plan and don't expect to develop one
|
40% |
12% |
I have no plan but expect to develop one
|
35% |
29% |
I have a plan with family members
|
17% |
32% |
|
I have a plan with non-family members |
8% |
27% |
How many brokerage agencies have you written at least one policy through in the past 12 months?
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||| |
<$50k |
$200k> |
0
|
10% |
7% |
1
|
38% |
25% |
2
|
26% |
23% |
3
|
12% |
23% |
4
|
5% |
7% |
|
5 or more |
8% |
15% |
