New LeadBoss now helps you manage your cases through underwriting! 

You asked for it, you got it! You already know LeadBoss as the premier online system for tracking your insurance sales leads.   Now LeadBoss helps you track your cases through the underwriting process!  As many of you know I come to InsuranceOnly after more than 15 years as a manager at CIGI Direct Insurance Services and I helped train many of the reps at eterm.com.  Joining the InsuranceOnly team has allowed me to help develop browser based lead relationship software that is the envy of the industry. The new LeadBoss has several new features including a “case management” tab, a “call log”, and new more intuitive lead statuses.  Lets take a tour through the updated program and see how it improves your daily workflow so you can earn more commission $$$'s while providing superior service! 

Case Management Enhancements 

“Case management” is a new lead status for when a sale has been made and the customer has taken action by returning an application to you or when you receive an exam back on the customer.  When you receive an application or an exam, change the lead status to "case management" and don't forget to hit the save button.  Now the case management tab will turn green and activate the case management screen when clicked. 

Under the “case management” tab you will find a host of new features!  In the center of the bottom of the screen you now have a notes section. The notes allow you to write in precise detail ongoing events occurring with your case.  Just above the notes are several keys to the case such as the name of the carrier the application was sent to, the death benefit, and a field for the policy number.  The key to the case management tab is selection of the proper case status.  Under the drop down menu there are currently 19 case status options.  They are arranged in order from what will typically occur in the beginning of the case through final resolution.   

You can view an index of these new case management status options from your new lead screen by hitting "case status view".  You can click on any status and see an aging report, making it easy for you to follow up on these cases.  For example you can click on "app in - no paramed" and see how long it has been since you received the application.  If it has been a few days you can check and make sure the paramed is scheduled.  The same critical analysis can be done at any stage of case management from your "my leads" screen by choosing "case status view".  You'll see at a glance how many people you have in each stage of the underwriting process! 

Consider the status "application sent to carrier".  We all have had an application lost by a home office.  By viewing the list of cases marked "application sent to carrier" you will identify cases that you have sent that you are not getting status reports on.  You can then follow up with the carrier sooner and get that case moving again with a copy from your file.  Also, think how valuable the status "in underwriting" is. You will be able to view a list on one page of all you cases in underwriting.  You will quickly gain a better grip on what carriers are giving better service, how long the underwriting process really takes, and when to expect issue or further requirements for your pending business.   

Underwriting Enhancements 

The most important new case management status is "outstanding requirements".  “Outstanding requirements” is for that case that requires agent interaction to keep underwriting moving forward.  For example, the underwriter notifies you that they need a foreign travel questionnaire, or maybe a financial questionnaire, or maybe an additional exam requirement.  That case is going nowhere until you complete that outstanding requirement.  When you receive this type of notification, change the case status to "outstanding requirements" immediately.  That way if you cannot contact the customer immediately you won't forget to work on it.  It will be on your case status every day until the requirement is satisfied and you move the file back to "in underwriting".   

When the underwriting process is complete don't forget to set status as "policy sent to client".  This is your pile of gold!  After marking a case “policy sent to client” you can view a list of them and follow up with these clients a few days after the policy has been mailed.   

In addition to the status upgrades in LeadBoss, a new tracking system for your leads improves your daily workflow.  Under "My Leads" your leads are now listed in order of how many calls have been made to that lead!  Direct response leads are not cheap.  You will want to know that you and your staff have made the best effort possible to sell every lead.  It starts by knowing how many times you have called each prospect.  After calling a customer enter a “call log”.  This will become a record of your activity with each prospect during the sales process, getting the application through underwriting, and placing the policy in force.  If a customer has only been called once or twice in the days following receipt of the lead you know you or your staff need to step up your calling efforts.   

Call Log Enhancements 

After the first call you will see "1" next to that lead under the # of calls column.  After the second attempt you will see a 2, and so on.  I recommend at least 2 calls/day to fresh leads.  After 3 or 4 days a new decision must be made whether to continue calling, or to send an application to the customer even though you haven't made contact.  The customer requested an application and you have an obligation to make sure they have the opportunity to apply.  If there is no response to your phone calls, or the application packet sent to the customer, you can remove the customer from your new leads screen by choosing "no sale".  When a lead status is changed to "no sale" you will see a pick list of reasons why the customer cannot be sold.  "Unable to contact" is one reason listed and there are many more such as "uninsurable", "foreign travel" and others.  After a few days of entering call logs you will have a much better view of your own work efforts in the follow up process.   

The “call log” also addresses the need to track every customer interaction.  If you ever need to make an E&O claim or anticipate one may be forthcoming your E&O carrier will ask you if you have a call log on every customer.  The answer needs to be yes!  You need to be in the habit of using the call log for every customer call.  You don't want to have to explain to your E&O carrier's attorney (or worse yet the plaintiff attorney and a jury) why you pick and choose which customers you keep a log of. Simply use LeadBoss and use the call log feature and you'll have a working log of all your customer interactions.  You should maintain a call log for your own peace of mind, but keep in mind that OFG partners will soon be required to maintain a call log not just for legal protection, but for good old quality customer service!   

Your daily workflow should now start with working your new leads and entering a call log for each.  Then turn to your case status view and review "outstanding requirements".  Then turn back to leads that have been called once or twice, and progress down your new leads list to those who have been called 5 or 6 times.  If you make this a habit you will know that ALL your leads are being worked thoroughly, ALL your pending cases are progressing, and ALL the commission dollars you can possibly earn from your leads are being earned!   

Karl Sorton, Director
TermOnly
karls@termonly.com
866-INS-ONLY ext 109