“Making Property & Casualty Insurance… Simple” Wave Financial Partners, Inc. an Independent...
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Transcript of “Making Property & Casualty Insurance… Simple” Wave Financial Partners, Inc. an Independent...
““Making Making Property & Property & Casualty Casualty
Insurance… Insurance… Simple”Simple”
Wave Financial Partners, Inc.an Independent Property & Casualty
Insurance Agency Auto / Home / Commercial
Our Mission:What do 300 million people in America have in common?
They all want to save $ on Auto Insurance and Homeowners
Insurance!
What’s more important than saving money…being properly insured!
Coverage counseling:• Comprehensive coverage• Proper liability limits• No gaps in coverage
Our Value:
Our Goals:Help 1,000,000
families insure their assets with
Property & Casualty Insurance!
Develop 10,000Marketing Directors
What we have to offer YOU:
A Simple and Unique Business Opportunity: Open your own Insurance Agency and tap into a
$500+ billion Industry! Earn commissions and renewals from your own
“book of business” Set your own hours and be your own boss Expand nationally with no limits Must be Properly Licensed
Wave Financial Partners (WFP)A Full-Service Property & Casualty Insurance Agency
Leadership: Over 100 years combined experience
Access: Independent Agency with over 35 top-rated companies
Service: Licensed professionals quote and service all lines of property & casualty insurance for you and your clients.
How does it work?Marketing Director: You meet with prospective clients:
Complete the Preliminary Questionnaire Enter their request into our on-line referral system Attach the current declaration pages
Experienced professionals call your client, gather additional information, quote and bind coverage
Once issued, you receive 25% - 30% - 35% of the first term commissions and renewal commissions for the life of the policy!
Commissions on all cross-sell products
How does it work?5 step Referral Process:
1. Meet with prospective clients
2. Complete the Preliminary Questionnaire
3. Obtain copies of their current Declaration Pages
4. Enter their request into our on-line referral system
5. Follow up on referral progress in WaveTrack
Referral Name MD Name
Referral Address
303-555-1212X
mornings [email protected]
Referral Name 5-5-1965 111-22-3344 11022033
1 ticket 3-15-2013; no accidents
Client has a primary residence and 2 automobiles
Referral Name 7-7-1965 888-44-1122 7704554
8-15-2013X
ABC Insurance CO $9,500
Barry Enterprises, Inc.Barry’s Burger Barn
Barry Bolton 303-555-1212
[email protected] www.burgerbarn.com
1200 Main Street, Denver, CO 80232
same
12-456789 10 15
8 14 $400,000
$600,000 X
3,500 X X
Casual restaurant serving hamburgers; beer & alcohol; delivery service.
Afternoons 1 pm – 5 pm
303-555-1212
Colorado
1111 Success WayDenver, CO 80237
Last Name
First Name
Pre-populated with your MD Name
Afternoons 1 pm – 5 pm
303-555-1212Colorado
1111 Success WayDenver, CO 80237
Last Name
First Name
Client & close friend
X
If checked, will open additional questions
Afternoons 1 pm – 5 pm
303-555-1212Colorado
1111 Success WayDenver, CO 80237
Last Name
First Name
Client & close friend
X
If checked, will open additional questions
8-15-2013
X
ABC Insurance CO
$9,500
Barry Enterprises, Inc.
Barry’s Burger Barn
www.burgerbarn.com
1200 Main Street, Denver, CO 80232
same
12-456789
10
1514
8
$400,000
$400,000
$600,000X
3,500
XX
Casual restaurant serving hamburgers; beer & alcohol; delivery service.
X
Afternoons 1 pm – 5 pm
303-555-1212Colorado
1111 Success WayDenver, CO 80237
Last Name
First Name
Client & close friend
XX
This client is my neighbor. They have 3 auto’s, 1 home, 1 rental, and owns a business.
Save
Once saved, you will be able to attach Documents/Dec Pages and submit for Review.
Click here to attach a file/declaration pages.
Click “Upload” to add the file.
Check to make sure all files have been added.
Once your referral is complete, click “Submit”
Click Referral ID to open any pending referral.
You can create a new referral by clicking here.
Check the status of all pending referrals.
Once a referral is submitted and accepted, you will see it here
Who’s who in the Industry?
1.State Farm2.AIG3.Allstate4.Liberty Mutual5.Nationwide
$49.3 billion$37.6 billion$27.6 billion$20.2 billion$16.1 billion
Who’s who in the Industry?
1.Travelers2.Progressive3.Hartford4.Safeco5.Metropolitan
$22.1 billion$13.9 billion$11.5 billion$ 5.9 billion$ 3.0 billion
$500,000,000,000+ Industry
1.State Farm2.AIG3.Allstate4.Liberty Mutual5.Nationwide Total: $149 billion
1.Travelers2.Progressive3.Hartford4.Safeco5.Metropolitan
Captive/Direct Independent
What’s the difference? $94 Billion
$49 billion$37 billion$27 billion$20 billion$16 billion
$22 billion$13 billion$11 billion$ 6 billion$ 3 billion
Total: $55 billion
Captive (vs) Independent
There are two basic ways that Insurance Agents do business:
1. As a Captive Agent or
2. Totally Independent
Captive Agent:As a Captive Agent, you are typically contracted with one company.
You build a book of business inside their walls using their proprietary products and administrative resources.
Advantages• Training / Support• Name Recognition
Disadvantages• Limited product offering• Difficult to remain competitive
Captive (vs) Independent
Independent Agent:As an Independent Agent, you have the ability to be contracted with
multiple carriers and the freedom to own and operate your own agency.
Advantages• Competitive pricing• Long Term client base
Disadvantages• Difficult to obtain top contracts• Expensive Mgt Systems
Captive (vs) Independent
Wave Financial Partners:As a Wave Partner, you have the best of both! You can be Independent
without being by yourself. Competitive products, world-class service, and the freedom to own and operate your own business.
Advantages• Competitive pricing• Long Term client base
Advantages• Top contracts• Freedom & Independence
Solution:
How do I Get Paid?
25% - 30% - 35%
5% - 6% - 7%
Refer a Client:Refer a Client:
Refer an Agent:Refer an Agent:
New Business & Renewals
……Build a Team of AgentsBuild a Team of Agents
Build a Clientele…Build a Clientele…
New Business & Renewals
Ex: $3,000 premium X 15% = $450 $450 X 25% = $112.50 $450 X 30% = $135.00 $450 X 35% = $157.50
How Do I Get Paid?
$5,000 - $24,999
Referring Clients:Referring Clients:
25%
30%35%
Client Income: Client Income: (highest 12 months)(highest 12 months)
MD Commission:MD Commission:(new business & renewals)(new business & renewals)
$0 - $4,999
$25,000 +
Tier: Tier: (promotion level)(promotion level)
Platinum
Gold
Silver
Client Income is income derived from personal referrals. Once MD is promoted to a new Tier Level, all future new business and renewals will be paid at the new Tier level. Tier levels and qualification subject to change. All entities or
persons must be properly licensed.
How Do I Get Paid?
$25,000 - $49,999
Referring Marketing Directors:Referring Marketing Directors:
5%
6%7%
Total Income: Total Income: (highest 12 months)(highest 12 months)
MD Commission:MD Commission:(new business & renewals)(new business & renewals)
$0 - $24,999
$50,000 +
Tier: Tier: (promotion level)(promotion level)
VP
Executive
Partner
Total Income is income derived from personal referrals & commissions received from direct recruited MDs. Once MD is promoted to a new Tier Level, all future new business and renewals will be paid at the new Tier level. Tier levels
and qualification subject to change. All entities or persons must be properly licensed.
Become a Marketing Director:
• Obtain P&C Licensing
WFP: 50 new families per year (4 per month)
X $3,000 annual premiums = $150,000 premiums
Avg. Gross Commission: 15% = $22,500
SilverSilver: 25% = $5,625
GoldGold: 30% = $6,750
PlatinumPlatinum: 35% = $7,875
Year 1: Income Potential: = $5,625 SilverSilver
Year 2: Income Potential: = $13,500 GoldGold
Year 3: Income Potential: = $20,250 GoldGold
Year 4: Income Potential: = $29,250 PlatinumPlatinum
Year 5: Income Potential: = $39,375 PlatinumPlatinum
*The earnings projections shown above are based upon new business from 50 clients per year paying an average of $3,000 in premiums and a 100% retention rate. Actual earnings will be lower based on actual retention rates. The above figures should not be considered as guarantees or projections of actual earnings. Promotion Tier Levels subject to change.
What about Me?
Mary: Financial Professional
Experience: 12 years
Current Income: $100,000
Offering: Life Insurance, Estate Planning,
Investments and Annuities
Client Base: 500 families
Become a Marketing Director:
• Obtain P&C Licensing
WFP: 200 new families per year (16/17 per month)
X $3,000 annual premiums = $600,000 premiums
Avg. Gross Commission: 15% = $90,000
SilverSilver: 25% = $22,500
GoldGold: 30% = $27,000
PlatinumPlatinum: 35% = $31,500
Year 1: Income Potential: = $25,000 Silver/Gold/PlatinumSilver/Gold/Platinum
Year 2: Income Potential: = $62,500 PlatinumPlatinum
Year 3: Income Potential: = $94,500 PlatinumPlatinum
Year 4: Income Potential: = $126,000 PlatinumPlatinum
Year 5: Income Potential: = $157,500 PlatinumPlatinum
*The earnings projections shown above are based upon new business from 200 clients per year paying an average of $3,000 in premiums and a 100% retention rate. Actual earnings will be lower based on actual retention rates. The above figures should not be considered as guarantees or projections of actual earnings. Promotion Tier Levels subject to change.
What about Me?
Mary: Financial Professional
Experience: 12 years
Current Income: $100,000
Offering: Life Insurance, Estate Planning,
Investments and Annuities
Client Base: 500 families
Ben: Real Estate Agent / Mortgage Broker
Experience: 5 years
Current Income: $80,000
Goal: Supplement his income by offering additional products to serve his clients needs
Center of Influence: 1,000 business professionals
Referring MD’s? Recruiting other Marketing Directors:
WFP: Refer 5 New Marketing Directors
100 new clients annually X $3,000 annual premiums = $300,000 premiums X 5 MD’s = $1.5 mil
Avg. Gross Commission: 15% = $225,000
PartnerPartner: 5% = $11,250
ExecutiveExecutive: 6% = $13,500
VPVP: 7% = $15,750
Year 1: Income Potential: = $11,250 PartnerPartner
Year 2: Income Potential: = $22,500 PartnerPartner
Year 3: Income Potential: = $37,125 ExecutiveExecutive
Year 4: Income Potential: = $54,000 ExecutiveExecutive
Year 5: Income Potential: = $78,750 VPVP
*The earnings projections shown above are based upon the enrollment of 5 new marketing directors who each generate new business from 100 clients paying an average of $3000 in annual premiums and a 100% retention rate. Actual earnings will be lower based on actual retention rates. The above figures should not be considered as guarantees or projections of actual earnings. Promotion Tier Levels subject to change.
Ben: Real Estate Agent / Mortgage Broker
Experience: 5 years
Current Income: $80,000
Goal: Supplement his income by offering additional products to serve his clients needs
Center of Influence: 1,000 business professionals
Referring MD’s? Recruiting other Marketing Directors:
WFP: Refer 20 New Marketing Directors
100 new clients annually X $3,000 annual premiums = $300,000 premiums X 20 MD’s = $6 mil
Avg. Gross Commission: 15% = $900,000
PartnerPartner: 5% = $45,000
ExecutiveExecutive: 6% = $54,000
VPVP: 7% = $63,000
Year 1: Income Potential: = $45,000 PartnerPartner
Year 2: Income Potential: = $108,000 ExecutiveExecutive
Year 3: Income Potential: = $189,000 VPVP
Year 4: Income Potential: = $252,000 VPVP
Year 5: Income Potential: = $315,000 VPVP
*The earnings projections shown above are based upon the enrollment of 20 new Marketing Directors who each generate new business from 100 clients paying an average of $3000 in annual premiums and a 100% retention rate. Actual earnings will be lower based upon actual retention rates. The above figures should not be considered as guarantees or projections of actual earnings. Promotion Tier Levels subject to change.
Products Available
Auto – Home – Umbrella - Renters – Landlord
RV’s – Classic Auto’s – Motorcycles
Personal Lines:
Commercial Lines:
Property - General Liability – Workers Comp
Commercial Auto
How to get started?
• Complete the Marketing Director Application: $99• Get properly licensed in each State of production • Enter Referrals: www.wavefinancialpartners.com• Get Paid!!!
• Recruit other Marketing Directors• Train them to duplicate the Wave System• Get Paid on their closed referrals!!!
Build a Clientele:
Build a Business:
www.wavefinancialpartners.comEmail: [email protected]
(866) 341-WAVE (9283)Danny Ballard – [email protected]
Direct: 720-222-4748
Auto / Home / Commercial
Thank You
Wave Financial Partners, Inc.