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8 vs. 18

8 vs. 18. Best DCN% by Branch. Best Persistency% by Branch. Definitions. D ecline: Poor field underwriting (1%) C ancellation: Customer cancels or underwriting requirements not met (3%) N ot-Taken: Customer returns policy during free-look period or payment not received (6%).

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8 vs. 18

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  1. 8 vs. 18

  2. Best DCN% by Branch

  3. Best Persistency% by Branch

  4. Definitions • Decline: Poor field underwriting (1%) • Cancellation:Customer cancels or underwriting requirements not met (3%) • Not-Taken: Customer returns policy during free-look period or payment not received (6%)

  5. How is DCN calculated? • Declines • Submitted Premium • Cancels • Not Takens

  6. Definitions • Persistency: Premium issued and paid four months or longer, divided by total issued business based on policy effective date

  7. How does Quality impact pay & retention? • Chargebacks

  8. How does Quality impact pay & retention? • Chargebacks • Direct pay submit advance commissions

  9. How does Quality impact pay & retention? • Chargebacks • Direct pay submit advance commissions • Gross Submit Production Pay – (DCN + Lapses)

  10. How does Quality impact pay & retention? • Chargebacks • Direct pay submit advance commissions • Gross Submit Production Pay – (DCN + Lapses) • DCN: Bonus multiplier first 7 months Production Pay DCN Multipliers

  11. How does Quality impact pay & retention? • Chargebacks • Direct pay submit advance commissions • Gross Submit Production Pay – (DCN + Lapses) • DCN: Bonus multiplier first 7 months • Persistency: Bonus multiplier month 8 and beyone Production Pay Persistency Multipliers

  12. How does Quality impact pay & retention? • Last but certainly not least… Renewals RenewalsRenewalsRenewalsRenewals Renewals RenewalsRenewalsRenewalsRenewals Renewals RenewalsRenewalsRenewalsRenewals Renewals RenewalsRenewalsRenewalsRenewals Renewals RenewalsRenewalsRenewalsRenewals Renewals RenewalsRenewalsRenewalsRenewals Renewals RenewalsRenewalsRenewalsRenewals Renewals RenewalsRenewalsRenewalsRenewals RenewalsRenewalsRenewalsRenewalsRenewalsRenewalsRenewalsRenewalsRenewalsRenewals

  13. So how does that translate to dollars?

  14. What does an 8 vs. 18 DCN mean to an Agent in his first seven months with a $1,400 per week average?

  15. Take Home Pay Individual 8 DCN Agent takes home 49% more Worksite 8 DCN Agent takes home 47% more

  16. Agent Direct Pay $8,400 More Direct Pay $5,600 More Direct Pay

  17. Production Pay Net Submit & DCN Multiplier

  18. Take Home Pay

  19. Take Home Pay Individual 8 DCN Agent takes home 49% more Worksite 8 DCN Agent takes home 47% more

  20. So when is a good time to train on Quality?

  21. Individual Business A-250 Application

  22. Quality Before the Sale: Classroom Training

  23. Agent’s Instruction Guide Review the key points in the Agent’s Instruction Guide: Then save it to the desktop of the Agent’s computer

  24. Automatic Decline Conditions Applicants with the following conditions will be automatically declined: • Terminal Illness • Lou Gehrig’s Disease or Amyotrophic Lateral Sclerosis (ALS) • HIV / AIDS or Positive Test to Antibodies for AIDS virus • Alzheimer’s Disease or Senile Dementia • Confined to a hospital or nursing facility • Use of illegal drugs within a two-year period • Confined to jail

  25. Underwriting Requirements Chart When is the Agent required to get an Oral Swab?

  26. Build Charts If the proposed insured does not fall within the standard weight limits shown on the chart, the proposed insured will be rated.

  27. Medical History Guide Lists conditions and “general” guidelines

  28. ALX Only • Do not submit an application for standard issue for the following conditions. • An ALX will be considered if the underwriters determine the proposed insured is eligible for coverage. • Heart / Circulatory / Blood Disorders • Diabetes and Related Disorders • Cancers • Misc. Medical Disorders • Disability

  29. Quality During the Presentation: Setting Correct Expectations

  30. Open your eyes

  31. What questions can you ask an applicant in normal conversation to determine if you should present ALX?

  32. Questions • Have you ever had cancer? • Have you ever had diabetes? • Have you ever had heart problems or high blood pressure? • What medications are you taking? • Are you receiving disability income? • How’s your driving record?

  33. “Great news! We have a policy specifically designed for people with your health conditions.”

  34. Trial Applications • On cases with that appear to be medically • questionable, the best thing to do is submit the • application on a trial basis. • Apps over $1 million • Collect no payment or app fee • Does not count for submit for commissions or production pay • Does not count against DCN if declined or not taken by customer

  35. So why don’t Agents use Trial applications?

  36. When does an individual policy go into effect?

  37. Closing Script • Sets expectations • QAC Call • Medical Records

  38. Quality After the Submit

  39. Worksite

  40. Relationship With The Bookkeeper • Checklist Found In ‘Steps to Success’

  41. Worksite Case Checklist • Follow-up, who is responsible, date completed

  42. Impact of Not-Takens • This is what it looks like in Qlikview when a worksite case is not taken

  43. DCN Detail Report Example

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