Samuel Bernstein, president of Bernstein Insurance Services in Los Angeles, agrees that the sales process has not much altered in the wake of new market growth.Bernstein
says that the provision of good service has enabled his
firm to retain about 97 percent of its long-term clients over the last 26 years.
"We still do some public relations," Bernstein
says."We still do some direct mail pieces, mostly whatever we can do to keep and maintain relationships and build new ones."Bernstein
, who does a large life insurance business, works with 31 insurance companies.His
firm also deals in disability, mutual funds, estate planning and business insurance.
says the Internet has had only a limited effect on his
regards Internet business as "mostly term insurance, very low end.We are mostly in the medium- to high-net-worth individual."
firm works with accountants and attorneys, and much of the contact consists of educating these professionals about new insurance products and ideas.But he
does not split fees, and his
firm does not work with accountants who collect fees for selling life insurance.Bernstein
has thought about creating a website, but he
is put off by the difficulties."If you establish a website, you need to service anybody that might call in from 50 states," he
says."And getting licensed in 50 states is a hassle.Plus [Internet customers are] probably not the kind of clients we want."