Better Prospecting

The Opportunity

DOL 5500 PROSPECTING PROJECT

• DOL Data Files dol.gov (form 5500 data sets)
• Individually the files are worthless
• Merged into a single database the information can be sold
• Database
• Website

WHERE THE DATA IS DERIVED

• DOL - Employers are required to file health, welfare and pension
• Health and Welfare plan forms - 5500, SchA and Sch1A
• Merge the files for health plan cov ee's, health carrier, ]
• ......health premium, life covered ee's, premium.....
• LTD, STD premium, covered employees and carrier

THE DATA

• Several very large files with pieces of the data
• Need a database program to combine the disparate data elements
• Broker name, address, phone, commissions and fees
• Client name, address, phone, contact, effective date, premium
• Carrier for client, name, contract number, premium, eff date

DATABASE FILES

• Sch A qa
• Sch A Part 1
• 5500
• Sch SB
• Others

SCHEDULE A

• Unique ID
• Carrier name
• Plan number
• Plan effective date
• Sch A Ein

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BROKERS PROSPECTING

• Purchase Judy Diamond - expensive
• Build their own - takes too long and is not accurate or timely
• LinkedIn trolling
• Association lists - cold calling lists
• Twitter, Facebook, seminars

What are brokers using?

• Who makes those decisions?
• What are they paying?
• Are they happy with them?
• How often is the data refreshed?
• What information is missing? What would you like to see added.

FINANCE AND INSURANCE FIRMS IN US

TEXAS FIRMS BY # OF Ee's

Employees By County

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WHAT'S OUT THERE

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US PAYROLL BY INDUSTRY

WHAT'S OUT THERE

• Two or three players
• Judy Diamond
• Exact information we have
• Very expensive

PARTNERSHIP

• ACU biz department blds database
• Website
• Create LLC and share profits
• Target total set buyers - national carriers
• Target monthly subscriptions

OPPORTUNITY

• 1000's of agents
• 24 m er's
• 10,000 monthly subscribers
• $9.95/month
• $1m revenue

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5500 Forms Health and Welfare

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WHAT ARE BROKERS CURRENTLY USING?

• Judy Diamond
• Ask Travis
• Ask Preston
• Ask Steve Idoux
• Ask Steve Brooks

What do you want to know before you go into a meeting?

• Current broker
• Funding, carrier, premium, ee's
• Something about the buyer - Social Media integration
• Company information - company summaries
• Last time they marketed their benefits or pension

Summary of Opportunity

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Key Terms

• Insurance broker/consultant - wholesaler between carrier and company
• Clients buy insurance through brokers who help select the carrier.
• ...and all of their competitors clients
• EE's = employees; ER = employer