Where my insurpeeps at? Y'all can't ALL be in SaaS!

As it seems like the WR is growing exponentially by the day (yay to that!), I'd love to have some discussions relevant to the insurance industry.


Cuz, you know, if we fuck up that's a major E&O claim.



Says you:

Attached poll
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๐Ÿ›ก Insurance
๐Ÿค Networking
๐Ÿคทโ€โ™‚ Poll
11
Chep
WR Officer
2
Bitcoin Adoption Specialist
Not in the insurance industry, but going to need to buy car insurance come June and would love any tips on how to get the cheapest possible insurance!
Incognito
WR Officer
3
Master of Disaster
I don't do personal lines, but I would go with an independent brokerage.

So the way it works is that you can be a captive agent (only sell one product, aka State Farm, Geico, etc), or independent where you shop around to all the different insurance companies (we call those carriers) for the best rates and broadest coverage.

Obviously there are many factors that go into a quote, such as loss history, zip code, type of vehicle, etc. The carriers are trying to operate at a specific margin, so the underwriters (aka, the people responsible for determining your rate) are doing statistical calculations based on that information. For example, living in the Bronx?ย  Fuhgeddaboudit! It's a no fault state and the number on uninsured motorists and claims in that area are HUGE. I live in Queens, but I have my permanent address listed with my mother in law on Long Island because the rates are much, much cheaper. Yes, I have to change my license and voter registration, car registration but it saves me $2k per year!

Where are you located? I may be able to name drop a few (if that is allowed here, I will earn nothing from this referral).ย 

Lastly, don't be afraid to push back. Do the AARP online driver safety course. It takes time but you can literally play video games, watch a movie, whatever and just click through. Big discount. Show that you're a good risk for better rates!ย 
CuriousFox
WR Officer
1
๐ŸฆŠ
Ooh thanks for the tips! Car insurance rate shopping next month.
looper1010
Celebrated Contributor
0
Solutions Specialist
Heya! I'm about to look for car insurance too and located in NY.ย  Any recs?ย  Thank you for all the advice!
Incognito
WR Officer
1
Master of Disaster
@looper1010 ย Quick Insurance. Ask for Jason.ย 
looper1010
Celebrated Contributor
0
Solutions Specialist
Thank you!
swizard
Celebrated Contributor
0
Sales Evangelist
Smells like a prospect hehe
Salespreuner
Big Shot
2
Regional Sales Director
Not in that industry yet. But would like to know best tips for home and automobile insurances
Incognito
WR Officer
2
Master of Disaster
check my response above :)

*edit* what I didn't mention, is that cheap isn't always better. The "name your price" tag is a marketing ploy. You need to take a look at what you're giving up for that discount.ย  @Chepย , this is important too.ย 

Great synopsis:

If it's not required, is full coverage worth the extra cost?
The cost difference between liability and full coverage can be fairly significant.ย Minimum liability insurance is often cheaper, but full coverage protects you against the cost of damage to your car, not just to others.If your current car is worth more than the combined cost of a full-coverage policy and deductible, full coverage is certainly worth the money. Say your car is currently worth $25,000, and your car is totaled in a collision with a tree. Collision insurance would cover the full $25,000 of your car, minus your deductible.
If you don't have collision insurance, you'll lose the equity in your car. As a general rule, full coverage costs drivers about $1,000 per year, so those who own valuable vehicles can save themselves from some huge expenses.If your car is worth less than the cost of full coverage, you may want to choose liability-only coverage, as yourย premiumย will be much lower. Typically, if your car is worth less than $4,000, it may make more sense to go with minimum liability coverage.
On average, we found you could save nearly $1,500 when you buy minimum liability coverage instead of a policy that includes comprehensive and collision insurance and higher liability limits.
Salespreuner
Big Shot
0
Regional Sales Director
That's some good insight. Thanks a ton
RahRahBooty
Executive
2
Business Development
Not in the insurance industry or SaaS!
Incognito
WR Officer
1
Master of Disaster
Cool! What's your jam?
RahRahBooty
Executive
2
Business Development
Industry researchย 
MMMGood
Celebrated Contributor
2
Senior Account Executive
USAA for everything, here. Best insurance company, hands down.ย 
IsIt5oClockYet
WR Officer
2
VP of Production
Insurepeep here.ย  Currently working for one of the big 5 and been in the industry for around 6 years.
Incognito
WR Officer
1
Master of Disaster
Saw youโ€™re P&C. Whatโ€™s your vertical?ย 

If youโ€™re in TX then I bet business is good rn
IsIt5oClockYet
WR Officer
1
VP of Production
Energy & Transportation and business down here is slowly picking back up.
Incognito
WR Officer
0
Master of Disaster
I hear Real estate there is ๐Ÿ”ฅ๐Ÿ”ฅ๐Ÿ”ฅ๐Ÿ”ฅ๐Ÿ”ฅ๐Ÿ”ฅ
Telehealth_2the_Moon
Notable Contributor
1
Director of Business Development
Not an InsurPeep, but also not in SaaS so I want you to know that I hear you and I'm here for you.
Incognito
WR Officer
1
Master of Disaster
aw, shucks. <3 I'm feeling the love!

Whereย  you making your benjamins?
Telehealth_2the_Moon
Notable Contributor
1
Director of Business Development
Telehealth my friend!
BCMKE
Good Citizen
1
Director
Insurance broker here.ย  ย and I came from SaaS.ย  Double whammy

Incognito
WR Officer
1
Master of Disaster
So basically youโ€™re winning all the things
SPIFF
Good Citizen
1
Nordic AE
Backup is insurance, right?
Incognito
WR Officer
0
Master of Disaster
No lol
Beans
Big Shot
0
Enterprise Account Executive
They're out there going door to door.
Incognito
WR Officer
1
Master of Disaster
um, no?
SerialBiller
Executive
0
Account Executive
Yep and Iโ€™m trying to get out of insurance and go into SaaS
CuriousFox
WR Officer
0
๐ŸฆŠ
HA!
MR.StretchISR
Politicker
0
ISR
Waiting for a prospect to call me and ask to take their money
tysonprime
Valued Contributor
0
Enterprise Account Executive
Hello! just launched my own insurance startup
So I am in both (SaaS and Insurace)
We created an online marketplace for healthcare insurance where you can compare policies, benefits and rate insurers.
Also we attach to your profile your medical history, pharma prescription and healthcare network.
We give health adivces and give you perks ($$ , discounts on renewal, etc) when you do healthy stuff like order healthy food or go to the gym.
How we work? We are a digital broker so we get our comission through sales and we have corporate programs.
I'm running this while I am a full time AE
4

SaaS Tradeshows?

Question
10
15
Deal Story
TheRealPezDog closed La-z-boy for $644.3k to the IT, Supply Chain Systems departments
I landed this deal off of a cold call, it was my first "consultant placement" for my IT consulting firm. It took 2 more calls (an interview with the hiring Director and 1 more to finalize the deal and...
Say congrats!
pi
Ma
Ca
+8
9

Lead the Field y Earl Nightingale - Audiobook + Workbook

Advice
20