maximum number of customers?

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PostPosted: Mon Jul 27, 2009 6:37 am   Post subject: maximum number of customers?  

I heard that Northwest Mutual places a upper limit on the number of active customers an agent can have; 400. Is this true?



If so what do they do with policy number 401?

darnardo1
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PostPosted: Mon Jul 27, 2009 9:56 am   Post subject:   

Hey Darnardo, can you link us to the page where this article is published?



I don't think any insurance company would put a ceiling on the number of business an agent is generating. Why would they try to limit their own business anyway?



Quote:
If so what do they do with policy number 401?




The agent would write the 401th policy and onwards to another insurance company. If this occurs then Northwest Mutual too would lose in terms of valuable businesses.
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PostPosted: Mon Jul 27, 2009 6:29 pm   Post subject:   

There's no truth to that.



Also, don't confuse having an active client with a policy count.



A Northwestern Mutual agent could sell a WL policy and a term policy on both the husband and the wife and then sell kiddie policies on 3 kids and then sell disability coverage on both spouses for 9 policies. Over a number of years, there may be another 15 policies sold on this family for 24 policies total, but it is only one active client.



A practice can only handle so many active clients, but there still isn't a limit.

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PostPosted: Mon Aug 03, 2009 5:50 am   Post subject:   

my immidiate boss asked me to find out if it is true or not. After inquiring where she heard it I was told from someone else who heard it directly from the CEO of the company. I have an meeting with the CEO tomorrow and will ask where he heard it.



Has anyone ever worked for NWM so I can get the definitive NO on this and lay it to rest>?

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PostPosted: Mon Aug 03, 2009 10:53 am   Post subject:   

Quote:
I heard that Northwest Mutual places a upper limit on the number of active customers an agent can have;




Did you hear it from an industry professional?

Or is it that you came across it in a journal?

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PostPosted: Tue Aug 04, 2009 1:51 am   Post subject:   

It's a definitive no. I'm very familiar with the company and have friends who work there.

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PostPosted: Tue Aug 04, 2009 4:09 am   Post subject:   

Just met with the CEO. He told me the president of LIMRA told him and also another agent with 25 years in the industry. I will email LIMRA but doubt I will turn up anything.

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PostPosted: Tue Aug 04, 2009 9:22 am   Post subject:   

Quote:
Over a number of years, there may be another 15 policies sold on this family for 24 policies total, but it is only one active client.




Say, if the first family member to whom they sold passed away, would the restrictions remain the same? Or does it mean that the death of 2 members would create an opportunity for another 2 to be covered by them?



I hope you got my point! Carlahooper

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PostPosted: Tue Aug 04, 2009 11:27 am   Post subject:   

Darnardo,



Ok, since you aren't going to believe my answer on this one, pick up the phone and call the company or call any local agency. Nobody is going to have any clue as to what you are talking about.



Insurance sales is a commissioned business. A rule like this would simply cause their agents to sell the products of other companies instead.

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PostPosted: Thu Aug 06, 2009 12:12 am   Post subject:   

Hi Insurance Expert



It's not that i don't believe you I'm just exhausting all avenues of possibility.^^



Call them? I think the conversation would go...

Hi NWM

Hello, may I ask a detailed question about your companies sales strategy?

Who are you?

erm... I work for strategy and planning for a major insurer that is coincidentally a direct competitor to NWM

Go jump off a bridge...click

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PostPosted: Thu Aug 06, 2009 2:18 am   Post subject:   

I know that when I worked for a major financial brokerage firm that I was limited to the number of clients in my book of business, but it was simply because they wanted to ensure that all clients were being appropriately managed. There really was no way to enforce it and arguments were constantly being made over the difference in a 10K client and the difference in a 10M client. Although sometimes the small clients do require more time, the larger clients typically make a lot more money. As a result, brokers would be very unhappy with a finite number of small clients!



I really don't see a point in placing a limit on the number of active clients. I have heard of companies that require a certain amount of staff per active clients, but that normally seems to be on the P & C side.

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PostPosted: Thu Aug 06, 2009 9:25 am   Post subject:   

Quote:
I have heard of companies that require a certain amount of staff per active clients, but that normally seems to be on the P & C side.


IMO, more clients signify more income. So, there shouldn't be any problem while paying out to additional staff. Yeah, you'd certainly need to settle whether you should maintain additional staff for a 10K client.

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PostPosted: Thu Aug 06, 2009 9:44 am   Post subject:   

Quote:
Hi Insurance Expert



It's not that i don't believe you I'm just exhausting all avenues of possibility.^^



Call them? I think the conversation would go...

Hi NWM

Hello, may I ask a detailed question about your companies sales strategy?

Who are you?

erm... I work for strategy and planning for a major insurer that is coincidentally a direct competitor to NWM

Go jump off a bridge...click




The switchboard operator won't hang up on you. Instead of asking if you can ask a question, just go ahead and ask. "I was on an internet chat board and someone said that Northwestern agents aren't allowed to have more than 400 clients. Is this true?"



Call the home office and call a few agencies. If you take the time to make a couple of phone calls, you'll get your answer from someone other than me.
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PostPosted: Mon Aug 10, 2009 12:15 am   Post subject:   

I chose an agent and called him up...



He kept asking whom he was speaking to so I lied and said I was interested in buying a whole life package. He then proceeded to tell me all I wanted to know. Don't feel good about lieing and taking up someones time...



Anyway the definitive answer is no as appart from 1 post I cannot see any evidence of this

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