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Did I just lose My Insurance Agent?

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Education & Training with Tech and Social Media Consultant

I've had a wonderful insurance agent for the past couple of years.  Mike Mueller
His name is Hamid Asemi.  He's smart, he's high tech, and most of all he's a nice person who works with integrity.

I first came by him because my old insurance agent quit and he was the first and best response to my calls to other local agents.

You see, I own a Suzuki Hayabusa - one of the most expensive bikes to insure.
(it's one of the most stolen bikes as well as having a reputation as being the fastest, that adds up to high liability)


His company had one of the best rates for my bike.  

We didn't stop there though.  

  • We bundled my homeowners,
  • My 3 other vehicles,
  • My life insurance,
  • My MIL homeowners and her vehicle together.


That's a bunch of policies, 7 in all.

He works for a big insurance company.  
I used to recommend him to anyone and frequently did.

If you know about the insurance industry, you know they've been dabbling in "other" revenue streams for a while.
My agent can sell me just about anything from investing products to health care.
I especially liked My Agent because he stuck to what he did best - Insurance.

That was until now.
This weekend I received a letter from him.
It seems that his company has also determined that their agents can now originate loans, Home Loans!

This canned letter went out to his entire database.
How many of those people were people I referred to him?
How many of those people are my clients?

I know he's smart - but I also know how little he really knows about mortgages.

Will I continue with our relationship? - Right now, I honestly don't know.
Right now I can't say I'm a very happy customer.

  • How many mortgages will he originate?
  • How many of his clients will get the best loan that meets their particular needs and goals?
  • How many loan officers, real estate agents, and other real estate professionals are on his list?
  • How many fewer insurance referrals from those professionals will he get because of this?


Is this a case of one step forward - two steps back?

Sometimes we think something might be a good idea, but we don't look at the big picture.  It follows along with the idea of selling ads on a real estate blog, http://activerain.com/blogsview/39484/Don-t-send-mixed

I purposely didn't obscure his contact information - Remember, I do like him, he's smart and honest.  If you want to use him for all your Insurance and Mortgage, so be it!

For me, I'm sticking to what I know.  Home Loans.

 Mike Mueller

Comments(4)

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Jacob Morales - Arizona Mortgage Planner
US Bank - Scottsdale, AZ

It really does bug me when I see things like this as well. Not just because it steps on our toes, but because it makes the person look incredibly unprofessional and almost desperate. There is nothing wrong with trying to learn more things when it comes to the financial world, but give me a break. If this guy knows that little about mortgage he should not be blasting his database to try and learn.

I agree with your perspective on the issue. I don't think this is to knock him, but rather just implore people to consider things more wisely. If my stock broker told me he became a realtor tomorrow I'd laugh at him. He is incredible, but there is no way I'd just hand over my business to him because he wants to "try it out".

Apr 09, 2007 06:09 AM
Mike Mueller
Tech and Social Media Consultant - Walnut Creek, CA

Jacob - Thanks.  I'm glad I'm not alone.

I have to update this story as well.

I realized I have 2 more policies than I listed. I forgot about my umbrella policies!

 

Apr 09, 2007 07:41 AM
Susan Kingsley
Bay Sotheby's International Realty - Walnut Creek, CA
Discover the Heart of Walnut Creek

Hi Mike,

This is my first day on AR, thanks to you and your wonderful, informative blogging seminar this morning.  I have been reading the words of many, and I am quite impressed with the spirit of AR.  Thank you for bringing me in.

Question: I am curious about an update.  Did you loose your insurance agent? or did he see the error of spreading himself too thin, and return to what he did well...insurance.  I wondered as I read your comments, whether or not he had been pressed into sending out the letter and if he would personally have rather stayed with insurance.  If not, it could be considered as a compliment to you that he would consider going into lending.  You, as an expert, have probably made it seem easy.  That is what an expert does. 

BTW, I never pictured you to be a biker.  Good for you. :-)

Jun 20, 2007 05:32 PM
Mike Mueller
Tech and Social Media Consultant - Walnut Creek, CA

Hi Susan-

As it turns out, the company now allows all agents to "originate" mortgages.
Once the application has been taken, the processing and complete handling go on to the corporate department.
He's actively looking for any business he can (He's picture is now on a Bus Stop near my office) but he's not actively originating loans.
I still contend, his letter did more harm than good in the end.

BTW: Welcome to ActiveRain!  It was a pleasure opening the door of blogging to you!  

Biker?  I started in 1976 and never stopped.  I'd ride everyday if I could.  You don't ride too do you?

 

Jun 21, 2007 02:51 AM
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