![]() In my insurance IMO, I recruit agents at great commission levels.Īlso, I offer proven sales and marketing systems to help them become top producers. Why? Because well-trained agents sell more policies. Smart insurance marketing organizations provide these resources at no cost to their agents. Instead, you may need sales training, product training, and lead/prospecting systems to achieve long-term career success. It’s not enough for most to just have an insurance carrier affiliation to see success. You get no product support, no sales training.īasically, they treat you like you’re entirely on your own.įor some, that’s great! For many, it’s not.Įspecially for newer agents and some experienced agents, having support and training available is vital. Some offer nothing beyond an insurance carrier appointment. What value do life insurance marketing organizations bring? You need to question the IMO on the value they bring to you. “What will the insurance FMO provide me to help me succeed in selling insurance?”Īs an insurance agent, you are critical to the success of the marketing organization. Ultimately, it depends on the value-proposition.Īnd part of your investigation depends on you knowing what is important in a relationship with an independent marketing organization. What exactly do the best insurance FMOs and IMOs do for its agents? Odds are you won’t have a direct-to-carrier appointment, and must work with an insurance IMO.Īnd if that’s the case, you owe it to yourself to carefully discern how different insurance field marketing organizations and IMOs work, so you can pick the best for your business goals. ![]() A company must pay benefits like health insurance and pensions.Īnd the perception is that the insurance IMO model offers the ability to reduce costs without necessarily reducing the same level of production. It costs a lot of money to maintain a sales force. ![]() Some 5,000 people were axed at the same time. Recently, we have witnessed big companies eliminating their direct-to-carrier field force in favor of the independent model.įor example, American General fired its entire career force back in 2016 in one fell swoop. New York Life still recruits agents directly, too. Lincoln Heritage does very well in the final expense IMO space. With that said, you will find direct-to-carrier recruiting models still used successfully. Direct-To-Company Opportunities Still Exist Nowadays, the majority of new insurance sales flows through the insurance marketing organization channel.Įstimates put total insurance production through the insurance FMO channel between 80% to 90% of TOTAL production. Thus the independent marketing organization model to recruit, train, and manage insurance agents was born. A Shift In Sales Force Recruiting Strategiesīack in the 1960s and 1970s, captive agent forces direct to the carriers created the vast majority of new insurance policy production.Īs the insurance industry experienced competitive pressures, many carriers redesigned their business model.Īnd one of the big changes many carriers made was to switch from a direct agent recruiting strategy to a third-party recruiting strategy. Let me give you some historical context to better explain why carriers rarely recruit agents directly. Instead, you’re forced to do business with an insurance marketing organization, whether you like it or not. This simply is not possible with most carriers. ![]() “Why not avoid joining a life insurance IMO entirely, and work directly with the carrier?” The structure of an insurance FMO is hierarchical in a pyramid-like shape (but not necessarily a pyramid scheme).įor example, the insurance carrier rests at the top, a few large-producing top insurance IMOs and NMOs are located underneath.īelow, there are a multitude more field marketing organizations, IMOs, and agents work beneath near the bottom of the pyramid. I specialize in recruiting agents and agencies to the senior insurance market. Most marketing organizations specialize in one market or type of insurance product. Independent marketing organizations are perceived as larger than field marketing organizations.Įither way, they’re pretty much the same thing. So, what’s the difference between an IMO versus an FMO?īoth recruit agents and agencies to sell their particular insurance products. Regardless FMO, IMO, or NMO, insurance IMOs recruit agencies and agents to represent their insurance carriers to promote and sell insurance policies. You will see designations like FMO (field marketing organization) and NMO (national marketing organization) used interchangeably. IMO is short for “independent marketing organization.” If you’ve ever asked yourself, “What is an IMO?”, here’s the answer: ![]()
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