Georgia Department of Insurance Manufacturers of Health and Life Insurance Products – Mouth of the New South
The Georgia Department of Health and Life Insurance Producers has broken out a new model. They led the Southern Rebellion, changing from laid-back to aggressive insurance agents to be reckoned with. Over the past few years, insurance marketing in Georgia has outpaced states near and far. Not so long ago, debit agents in Georgia, like most southern states, predominated. These health and life insurance producers sold many small insurance policies on their established routes where weekly or monthly premium collections were collected from their customers. (Kind of like playing a neighborhood numbers game before the state lotteries kicked them out of the competition?). Since these debit agents were employees of the insurance company when they left, the same happened with their non-entitlement renewal. Old route, just assigned to a new trainee agent joining the company.
Needless to mention, low earning potential, high training costs, agent awareness and modern banking policies have comparatively reduced the presence of debit life insurance companies to a minimal factor these days. When I mention that Georgia insurance producers are becoming the “mouth of the South,” it resonates with many of those Southerners who used to wait back for the train to come in. Georgia is often a vastly underrated state where misconceptions abound. Georgia residents have an income level slightly below the national average. This is typical of all southern states. The notable factor is that the average family income of insurance agents in Georgia is $10,000 more than those in Arkansas and Mississippi. On a very positive note regarding Georgia insurance agents, Georgia has experienced a lot of population growth. The average state experienced a 5.3% increase in population between 2000 and 2005. In Georgia, the amount was more than double the average, translating to a 10.8% increase.
These Georgia insurance agents suddenly had approximately 1,000,000 new leads to sell to. What’s more, many of them are established families with good incomes who are moving to the state. In fact, 12.4% of households have an income of $100,000 or more. This is not typical of many southern states. This is a great opportunity for Georgia insurance agents to offer annuity and financial products. Also, since the number of adults is percentage-wise much lower than most states, health agents need to focus more on the healthy individual, workplace and group plans My Georgia advice: Stay AWAY from Atlanta.
Georgia is split into two zones, 55% of licensed agents in the Atlanta area, Zips 300-303. The remaining 45% are outside this metropolitan area. As for the demand for recruiting agents in Georgia, there will likely be four for the Atlanta area, 2 for the entire state, and 1 for areas outside of Atlanta. This would mean that agents in the Atlanta area receive 85% of the insurance recruiting calls. 42% of mail will be sent to rural agents. In addition, Atlanta agents are bombarded with almost daily requests via fax, email or telemarketing.
Two tips for recruiting. First: Atlanta-area brokers and rural Georgia agents broker nearly the same amount of business, with about the same number of common insurance carriers. Second: A rural agent in Georgia is twice as likely to stay loyal to you as a predator from the city of Atlanta. Our database shows this very clearly. We examine the frequency with which a Georgia insurance agent contracts with another insurance company. Make your move to reward yourself with a sweet slice of Georgia pie, country style. Some statistics. The state’s population in 2005 had increased by nearly 11% since 2000 to over 9,000,000. The number of agents per thousand inhabitants is respectable, not overcrowded 3.6 agents. A strong median family income, along with a strong high school graduation rate, illustrates a strong economic base.
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