For BGA's, IMO's and Independent Producers- Learn the Inside Pitch on Direct Marketers, Metrics and how to radically Improve your Sales and Returns.

1. MetricsMetrics
Insurance Sales & MoneyBallInsurance Sales & MoneyBall
Todd R. EwingTodd R. Ewing
President, InsuranceMinedPresident, InsuranceMined
Executive Insurance ConsultingExecutive Insurance Consulting

2. “If it was Easy, Everyone would do it”
178 Players* all time (ever!)
have hit over .300
Conclusion: Hitting .300 must
be very, very Difficult!
It’s like the MDRT or Top Producer of
Life Insurance.

3. Difference in Numbers?
Based on 600 season AB’s, the actual
difference in hits between a .300 Legend
and .270 (Above Average) hitter is….
18 Hits per Season!
That’s 3 Percent- fouling off a tough slider,
taking a Walk rather than swinging at a bad pitch,
getting ahead of the count, beating out an infield
single, a bunt… Focus, Hustle.

4. Sales: “It’s a Game of Inches!”
10, 3, 2, 1- we all know that Equation
(10 calls = 3 presentations = 2 “Sales” = 1 Paid
With D2C, multiply factors by 2 & add a
Zero
Success is more that just upping the volume
(not going to be a Legend making 1 more call!)
It’s about incremental
Improvements (defined
& measurable data points)

5. “Breakage”-The Industry Strike-out!
Sales conversions
continue an industry slide
Exam completion rates are
flat to declining
Carrier Placement Ratios
are at all-time low
25% of cases are AOTA
Persistency of Non-Med
policies is Problematic

6. The Box-score: Know Your Numbers!
Marketing Return
Sales (Close) Rate
Client Completion %
Carrier Issuance
Policy Paid Ratio
The ultimate measurements is Return On
Marketing Investment. ROMI = dollars
spent to Paid commission.

7. Level Set: Industry Metric “Averages”
Conversion Measurement Success Ratios
Leads – App Out *** 8% - 65%
App Out – App Back 45% - 74%
App Submit – Policy Approved 71% - 87%
Policy Approved – Delivered 74% - 88%
Policy Delivered – Paid 79% - 93%
Total Net Conversion: 1.5% - 33%
*** Varies greatly per Lead source, cost and Agent!

8. The “Triple Play” in D2C
CAC- Customer Acquisition Cost
Ultimate Conversion- Leads to Paid %
Net Premium- Commission per Policy
 Note: With an 8% net Conversion at $50 per Lead, your marketing
cost alone for an INF policy is over $600!

9. Success: Win 2 out of 3!
Company A
Lead cost: $20
Conversion Rate: 9%
Premium/Policy: $500
CAC= $220
Mktg/Premium = 44%
Company B
Lead cost: $50
Conversion %: 17%
Premium/Policy: $850
CAC= $280
Mktg/Premium = 33%
Profitability = less than
35% spent on
Marketing

10. Metrics: A Fancy Word for Math
A leading Direct Marketer “averages” 8%
Conversion rate. Yikes!
With a Net 3% Increase:
Produces a 37% improvement in EBITDA
Grows Staff; Expands Product Offering
Makes Millions more in Revenue

11. Goal: 3% Improvement in 5 Buckets
Establish robust reporting mechanism
Measure Everything- conversion by lead
source, demographic, agent, premium…
Ensure Validity of Data (no cannibalism)
Create continual A/B testing methodology
with on-going study against baseline
Factor Seasonality, Source Rates, Modality

12. Bucket 1: Marketing to Leads
Develop “Propensity to Buy” Scoring system
Use Comprehensive Mktg outlets
Build Social Media Brand
Think UX & CX with every Touch
Forget Middle-market: Focus on Forgotten
(Single Moms, Women in general, Truckers,
Diabetics, Smokers, Professors, Age Wavers, etc)

13. Bucket 2: Leads to Sales
Most important- Perfect Presentation!
Know your Customer- Customize everything!
Website- must be interactive (most still suck)
Make it easy- Allow for “Self Direction”
Modality- response matches Customer entry
No Brainers- E signature, Call Timing,
ongoing touch-points, be Mobile, Sell
Spouse

14. Bucket 3: App Out to App Back
Eliminate Exams- Sell more Non-Med
Bind Cases- Money makes it Sticky
Create Urgency- Backdating is lost art
Emails- don’t be Pest; Provide Value
Touchpoints- Mobile & Texts
Beneficiary- Key to Completion

15. Bucket 4: App Back to
Approved
U/W- Write the right company, upfront!
Reduce AOTA’s- set Proper Expectations
Client follow up- employ best case mngrs!
(CM’s are the glue & key for success)
APS tracking- be aggressive & enlist PI
Reduce Cycle Time- “Speed Thrills” %’s!
Micro Every case- approx 10% of all apps
“die on the vine” (never Carrier finalized)

16. Bucket 5: Approved to Paid
AOTA’s- Master this “new” sale; Huge upside!
(100% of smaller premium beats 0% of large $)
Delivery Requirements- Elicit Client Urgency
E Delivery- Make it Fast and Easy
Beneficiary- Critical at last stage (emotional)
Monetize Declines- Sell Final Expense/AD&D
Inforce- Perfect time to sell more; referrals

17. Metrics: Means More than Money
You’re Already Really Good
 .270 Hitters make Plenty of Money
You’re consistently “Above Average”
 You get “Hits” most of your times up
You’re Regarded on Your Team
 Can Count on your “Production” in the 6 Hole

18. Metrics: Immortality Manifested
Want to Make the All-Stars?
Are You Game for the Hall of Fame?
Ready to Become a Legend?

19. Play (Money) Ball!!!
Todd Ewing is the industry’s leading D2C
Consultant and helps Producers radically
improve their Sales and Metrics.
Call Your Shot:
Todd EwingTodd Ewing
InsuranceMined.comInsuranceMined.com
Toddewing@InsuranceMined.comToddewing@InsuranceMined.com
(916) 275 – 7843(916) 275 – 7843