There's not a lot going on by way of insurance news today, so I thought I'd point you in the direction of a couple lower-key insurance tidbits:

Health Insurance Premiums Up 87 Percent Since 2000 [Chicago Sun-Times]
Insurers Lowering Auto Insurance Rates in Virginia [Insurance Journal]
State Warns Consumers About Group Health Insurance Scam [WTVQ - Kentucky]

Of course, if your eyesight is currently experiencing a Friday afternoon slump, take a break from reading and view our latest Insurance Blog Wrap-Up to see this week's happenings at the Insurance Blog. It's pretty exciting stuff. We're talking mullet wigs and jean shorts, people.

See you Monday!

Posted by Megan Mahan at 10:34 PM | Permalink | Comments (0)
 

My mother's cousin has a farm in rural Iowa. He passed along this photo this morning to let us know how the 2006 harvest was going.

Pretty impressive, to say the least. Hope the owners of these vehicles (can you call a tractor a vehicle?) have good insurance.

Thanks, Lynn!

[Please note: the water jug that has amazingly remained upright on the tractor ladder. That, my friends, takes skill.]

Posted by Megan Mahan at 05:52 PM | Permalink | Comments (2)
 

That question is one that's bounced around since Wal-Mart announced it would offer prescription drugs for as low as $4 per 30-day supply.

The plan, which will be available to the general public (including customers without insurance), has lead to some speculation that insurers will see a serious drop in individual health insurance policies.

Furthermore, it seems as if a new consumer-driven health market could drive up the popularity of health savings accounts. In a recent press release, HSA for America President, Wiley Long, pointed out that health insurance plans with $15 prescription drug co-pays don't make a lot of sense when you can get you're medications for under one Abe Lincoln a pop.

On the other hand, HSAs would give consumers a way to save for future medical expenses, the assets of which would grow tax-free. If consumers can handle higher deductible, says Long, HSAs could be a great solution for millions of Americans. Currently, deductibles start around $1,000.

"The higher deductible can take a little getting used to for people who are accustomed to low co-pays for prescription drugs and doctor visits," admits Long, "but when you consider that premiums are 30 to 40% less than traditional co-pay plans, it really makes a lot of sense."

Long also estimates that inquiries about HSAs have grown by 20 percent since Wal-Mart's announcement.

Realizing that press releases are, in fact, used to get press, I do think that HSAs will continue to grow in popularity, especially as the health market continues to sway in favor of consumers. So what will that do to the individual health insurance market?

Predictions, anyone?

Posted by Megan Mahan at 10:48 PM | Permalink | Comments (0)
 

I'm such a doofus. For some reason I have forgotten to update you on the latest happenings with the InsureMe blogs. Please forgive me. :)

Recently, we've been putting together weekly wrap-up videos covering the recent posts on the InsureMe Insurance Blog. We've completed three videos so far, and although I'm sure I bring a fair amount of bias to the table, I think they get better every week.

To view the InsureMe Insurance Blog Wrap-Ups, click here. Of course, you can view new installments featuring myself and the rest of the InsureMe AV team by checking out the Insurance Blog each Friday.

Posted by Megan Mahan at 05:10 PM | Permalink | Comments (2)
 

In conjunction with National Life Insurance Awareness Month, Best Week is reporting a continuing growth pattern in the life insurance industry, based on the first half of 2006.
Now, I have to tell you that as a copywriter, the nitty-gritty details about financial growth doesn't really start me up. Which is why, I suppose, I decided to write for a living and let you all ravage the insurance/finanical services industry with reckless abandon. But with that full disclosure out of the way, I have to tell you, it looks like exciting times in the life insurance world.

According to the Best Week article (which I found via Insurance News Net), written net premiums experienced "double-digit growth" during the first six months of '06, which is impressive when you compare it to the six-month 2005 increase of 4.5 percent.

As Mike, our chief financial officer would say, "Nice."

Experts also reported that capital and surplus levels have also rebounded nicely after last year's lackluster increase in aggregate levels—readying he life insurance industry for "an enhanced role" in the financial services marketplace.

The article went on to note that out of the top 25 life insurance groups, 23 experienced increases in their admitted asset bases. The top 25 also increased their share of overall admitted assets to 79 percent, which is up from the 76 percent recorded in June of last year.

If you've been considering a career in life insurance sales, now might be the time to look into it. You can get started by visiting our Agent Resource Center and checking out our article, Your Guide to Becoming a Life Insurance Agent, to get the low-down on life insurance sales.

And, if you have special securitly clearance a membership, you can view the full AM Best report at BestWeek.com. You can also browse the highlights in full here, courtesy of INN.

Posted by Megan Mahan at 08:21 PM | Permalink | Comments (0)
 

I realize I'm probably a little slow on the uptake here, but the Insurance Journal is doing a [video] series with the nation's respective insurance commissioners. I watched an interview for the first time this afternoon, with Indiana insurance commissioner, Jim Atterholt, regarding the state's insurance jobs.

It's pretty cool stuff. You can watch the video directly on the Insurance Journal homepage, and you can get caught up on previous interviews by clicking here.

My only suggestion is that they rename the series something more dramatic. Like, maybe, "The Commish: Insurance USA."

Posted by Megan Mahan at 11:03 PM | Permalink | Comments (4)
 

Homeowners in Hawaii who have taken precautions and steps to strengthen their homes against hurricanes may be eligible for grant money from the state.

According to the Insurance Journal, qualified homeowners could stand to get one-third of their costs covered by the Loss Mitigation Grant Program, which will begin next month. State Insurance Commissioner J.P. Schmidt said that about $4 million is available for the program this year, and an additional $2 million will be available next year. The goal, Schmidt said, is to increase state protection against natural disasters, as well as to lessen the impact of those disasters.

While a more in-depth description of the program will be available via the Web in October, IJ reports that eligibility requirements include things like foundation strengthening, roof wood sheathing fastening and roof-to-wall restraint ties.

Thumbs up, Hawaii. This sounds like a great way to protect properties and encourage residents to be proactive in disaster prevention and protection. Well done.

Posted by Megan Mahan at 11:36 PM | Permalink | Comments (0)
 

Really digging this recent post by Seth Godin, where he talks about the "advantage of the small."

What advantage is that, you ask? The advantage of getting personal with prospects and clients. The ability to build relationships versus email contacts.

Here's a taste:

Small organizations have the privilege of looking their customers in the eye. Small doesn't necessarily mean small in numbers. It's an attitude. Does your organization require a form to get something done, or does one human choose to interact with another?

Conference Calls Unlimited has gone so far as to practically ban email in communication with clients. They call you after each call to see how it went. When I went to Stanford, the director of admissions called every single person they admitted to share the news. Compare that to the anonymous ALL CAPITAL LETTERS notes you get from your car insurance company. [Emphasis mine]

Here's a challenge for this week, ends Godin: "Try to do as much as you can in person. Or by phone. Especially the hard stuff."

Posted by Megan Mahan at 11:29 PM | Permalink | Comments (1)
 

As a subscriber to Health Insurance Underwriter (HIU) magazine, I generally enjoy their monthly column, The Referral Coach.

This month's topic: 10 Questions to Bring More Value and Get More Referrals.

The article shares the best practice of a financial advisor named Kiernan O'Connor, which helps him bring immediate value to prospects—increasing the chance of converting them to new clients. The author, Bill Cates, does offer a couple of disclaimers in his article, which I'll share with you as well:

1. O'Connor's 10 questions were inspired by two colleagues, the source of which you can find at www.mitchanthony.com.
2. Since O'Connor is a financial advisor (investments, insurance, etc.), some of these questions may need to be modified or eliminated to fit your line of financial services sales.

Alright. On with the 10 questions that could change your life insurance career.

1. What motivated you to meet with me (or take my call)?
2. What are some of the best financial decisions you've made? (Gives you an indication of how the prospect views and feels about money.)
3. What's going on in your life right now (relationship, career, work, etc.)?
4. Who are the people affected by your financial decisions?
5. What transitions do you anticipate in the next five years? What has to happen for you to feel successful with those transitions?
6. What are five things you want to do while you're still able to? (Gives some insight into the prospect's character and personality.)
7. What are you most looking forward to when work becomes optional and retirement becomes affordable?
8. What are some of the factors or circumstances that could affect your financial planning?
9. What would you be doing differently if money were not a factor?
10. What kind of help are you looking for and what do you need from me?

Whew.

Okay, so given that list of questions, the author points out that it's important to ask these types of questions in the right order.

In the right order = Starting with the present, moving to the future, ending with long-range

And while the order of the questions is important, O'Connor also points out another important caveat for agents: "Learn to shut up. Give people time to think of their answers." You never know, you may be asking the prospect questions they haven't thought of before. O'Connor also suggests making the most out of your non-verbal communication.

"Put the pen down when they are speaking," he says. "Listen first, then pick up the pen and write their answers."

By learning about your prospects in an open and non-threatening manner—and appearing attentive to their wants and needs—you can bring them immediate, while simultaneously building trust.

And because I'm in equation mode:

Value + Trust = Increased Closing Ratio

Don't have a subscription to HIU magazine? Well, you're in luck this month because they lovely folks at NAHU have included this month's Referral Coach in their online version of the mag. Check out the full article here, and don't forget to check out the Agent Resource Center for more hints and tips.

Posted by Megan Mahan at 11:21 PM | Permalink | Comments (1)
 

So, I'm in San Francisco where there's no short abundance of free wifi. [Full disclosure: I'm kind of a nerd.] And while there's something to be said for taking an occasional break from technology, wireless networking brings many benefits to working folks like you and I.

Not sure what the whole wireless thing is all about or how it can help you stay on top of your insurance sales game? We've got the remedy: check out our great article in the Agent Resource Center on wireless networking. I think it'll take care of those burning wireless questions that have been keeping you up at night. :)

Have a great weekend, everyone. See you back in Denver on Monday.

Posted by Megan Mahan at 03:28 AM | Permalink | Comments (0)
 

But I'll be back again, of course.

Heading to San Francisco for a couple days; hope to check in with a blog post or two while I'm away. In the meantime, I'll leave you with a couple good links from the InsureMe Agent Resource Center. (But I could be biased about the quality of these articles; I wrote some of them.)

Marketing to Female Baby Boomers: Growing Numbers Require Different Approach

Writing Web Articles: The New Key to Success

Tips for Marketing Your Agency: Which Advertising Medium is Right for You?

If you like what you see here, please do browse the rest of the articles. Lots of goodies, free from us to you. :)

Posted by Megan Mahan at 06:41 PM | Permalink | Comments (1)
 

Today's a good day to pause, reflect, and give thanks.

[image courtesy of gapingvoid]

Posted by Megan Mahan at 09:53 PM | Permalink | Comments (0)
 

I found a great article today by way of the Insurance Journal regarding young people and a lack of health insurance.

IJ reports that a whopping 13.7 million young adults (ages 19-29) are uninsured, consequently making young adults the largest uninsured demographic in the U.S.

While experts conclude that no single factor is responsible for the phenomenon, Jeff Bontrager of the Colorado Health Institute suspects that a lack of health benefits in the workplace is mostly to blame.

"We suspect that younger adults work for employers that may be less likely to provide insurance," says Bontrager. "There is also the possibility that younger adults decide not to pay for coverage because of this healthy/invincible mentality."

Any way you cut it, young adults can be a rewarding sales niche to pursue. But how do you reach young prospects—especially when they have the mindset that health insurance is both unaffordable and unnecessary?

We've got a great article in our Agent Resource Center about twenty-somethings and what you can do to reach out and insure somebody.

Check out: How Insurance Agents Can Reach Generation Y

Back with more tips and news on Monday; have a great weekend, everyone!

Posted by Megan Mahan at 09:44 PM | Permalink | Comments (0)
 

With the five-year anniversary of 9/11 coming up, the Insurance Information Institute (I.I.I.) has calculated the insurance-related implications of the attacks, as well as the challenges insurers face going forward.

Total insured losses from the 9/11 attacks total $35.6 billion, with loss of property, business interruption, worker's compensation, and life insurance and liability claims adding to the astronomical figure.

You can view the full report, 9/11 and Insurance: The Five Year Anniversary, here, courtesy of the I.I.I. It's really interesting stuff; I'd encourage everyone to take a look.

[Source]: Insurance News Net

Posted by Megan Mahan at 11:51 PM | Permalink | Comments (0)
 

Wow, that's a promising blog title, eh? Don't worry. I intend on delivering. :)

A few weeks back, Top Lead Genorators posted about the "takeaway close," which involves upping the ante for the prospect, like presenting a limited time offer (for example) to get he or she off the purchasing fence. The idea, in essence, is to convey to prospects that a certain product or service is in high demand, and therefore valuable.

Why does the takeaway close work? Why do people, upon hearing they can't have something, want it more?

Perhaps the motivator is scarcity, an imbalance in the supply and demand equation. The shorter the supply of something, the more it is valued. That's why gold has a much higher price than copper, even though copper has many more practical uses.

I agree. When Google's Gmail came out, it drove me insane that I couldn't get instant access to it. It didn't matter that I had two other email accounts—I wanted what I couldn't have.

Done right, I think the takeway close can be a beneficial tactic. Either way, you'll get the prospect off the fence, and that means you'll either:

A. gain a new client
B. stop wasting time on a wishy-washy prospect, giving you time to pursue others.

Learn more closing tips by checking out our article, Successful Closing Tips: How to Complete Your Lead. And don't forget to check out all the other great, free resources in our Agent Resource Center!

Posted by Megan Mahan at 11:39 PM | Permalink | Comments (7)
 

I was a little indifferent to the latest post, Be Your Own Critic After Every Sales Call, over at Landing the Deal. Mostly, I didn't think it had much sustenance. No real questions to ask yourself, etc. Then I looked at the comments thread and found some more specific and reflective questions from Glenn.

What obstacles did I/we face? What additional resources will I/we need next time?

Did my/our efforts make a difference?
Did I/we achieve my/our goals?
What additional opportunities were created?

How will I/we take advantage of those opportunities?

Now that I find very helpful. Sure could have used something like this when I was in sales. Although my daily critique would have gone something like "Find a new job" or "Stop selling long distance."

Anyway, I recommend heading over to Landing The Deal to check out the post—and feel free to share your tricks of the trade via comments.

Posted by Megan Mahan at 10:51 PM | Permalink | Comments (0)
 

Sorry guys; I know there are quite a few of you out there, but this Friday post is for the ladies.

I continue to be impressed with the articles that job search site, Monster.com, is putting together. (To squash any impending falsehoods from The Rumor Mill, I'm not looking for a new job, but I was over a year ago, so I still receive tidbits from Monster now and again.)

Anyway, this afternoon I found Unique Networks for Women: How to Leverage What You've Got in my inbox. A very good article indeed.

The article speaks to networking and building business contacts outside of the business arena. Think the gym, the park, social groups (like book clubs) and Mommy and Me (for working moms). Career counselor and public speaker, Valerie Young, says women have a lot of time for networking—they just don't realize or take advantage of it. Here's an excerpt from the article:

She [Young] encourages women to build networking contacts by examining the components of their lives. Start with present and past work experiences, but then also add places you volunteer, groups you may meet through children or family, clubs and friends.

Learn more networking ideas and tips by checking out the full article here.

Have a good weekend everyone; I'll be back with more equal-gender insurance commentary on Monday. :)

Posted by Megan Mahan at 07:58 PM | Permalink | Comments (1)