Georgia Department of Insurance’s life and health insurance producers have broken new ground. They are the Southern rebel, moving from being laid back to being aggressive insurance representatives to be reckoned. Georgia’s insurance marketing has risen to the top of the list over the past few years. In Georgia, debit agents were a common sight as in most other southern states. These life and health insurance producers sold small premium insurance policies through their established routes. Clients would then be billed weekly or monthly premiums. It’s sort of like playing the neighbourhood numbers game before the state lotteries eliminated them from competition. These debit agents were employees at the insurance company and their unvested renewals went with them. A route that was previously used by the insurance company was simply given to a trainee agent.
Not to be forgotten, the low income potential, high costs of training, agent awareness, modern banking policies and a decrease in debit life insurance company presence have all contributed to a reduction in their current status to a minor factor. Georgia’s insurance producers are now the “mouth of south”, reflecting the fact that many southerners were once waiting for the train to arrive. Georgia is often overlooked because of the many misconceptions. Georgians have a slightly lower income than the national average. This is typical for all southern states. Notable is the fact that Georgia’s median income for insurance agent families is $10,000 higher than Arkansas and Mississippi. Georgia Insurance Agents have experienced significant population growth, which is a very good thing. Between 2000 and 2005, the average state saw a 5.3% increase in its population. Georgia saw a 10.8% increase in population, more than twice the average.
The Georgia insurance agents had 1,000,000 potential customers to sell to. Many of these clients were well-off families who moved to Georgia. The actual figure is 12.4 percent. This is unusual in many southern states. Georgia insurance agents have a unique opportunity to sell annuities and other financial products. Additionally, the percentage of seniors in Georgia is much lower than other states. This means that health agents need to focus more on the individual, worksite and group plan. My Georgia advice: Stay out of Atlanta.
Georgia is divided into two zones. 55% of licensed agents in Atlanta Area are located in Zips 300-303. The remaining 45% live outside the metropolitan area. There will likely be four Georgia agents recruiting. Two for the Atlanta region, two for the whole state and one for other areas. This would mean that Atlanta agents will receive 85% of all insurance recruiting solicitations. Rural agents would receive 42% of the mail. Agents in Atlanta are also bombarded by solicitations via fax, email or telemarketing almost every day.
Two tips for recruiting. One: Atlanta-area brokers and Georgia rural agents broker nearly the same amount of business with approximately the same number total insurance carriers. Two: Agents in rural Georgia are twice as likely to remain loyal to you than those who work in the city. This is evidently shown by our database. We look at the frequency that a Georgia insurance agent has signed with another company. You deserve a piece of Georgia pie rural style, so make your move. Here are some statistics. 2005 saw a 11% increase in the state’s population to 9,000,000, an increase of almost 11% since 2000. The ratio of agents to residents is respectable and not too crowded at 3.6 agents. Strong economic foundation is evident by a high median income and strong high school graduates.
Don Yerke is a published author who likes to focus on the things you don’t know and what no one else dares print. It’s okay to tell it as it is.
His new paperback book will be available on Amazon in the early part of this summer. This book is full of great information about insurance marketing and recruitment.
