Re:Zenefits cuts nearly 50% of workforce
by phonon on Thursday February 09, 2017 @02:48PM
(#13610232)
These were basic training videos/courses to teach them how to be brokers!
They hired random salespeople, and cut corners (=cheated) on the very minimal (52 hours) state required training to allow them to be licensed insurance brokers.
The result was their brokers ended up being very ignorant of insurance products and practice.
Ethics is a small portion of the requirements. It's mostly basic stuff on what insurance is.
Re:Zenefits cuts nearly 50% of workforce
by michaelbuckbee on Thursday February 09, 2017 @03:59PM
(#13610924)
Is this 52 hours / state? or does it cross license between states?
Re:Zenefits cuts nearly 50% of workforce
by phonon on Thursday February 09, 2017 @07:00PM
(#13612175)
Most other states will waive the pre-licensing requirements if you are already an agent in one state. Sometimes it depends on your state.
They still want their ~$100 a year though.
Zenefits fell down there as well--they had many gaps in their producer licensing. They've now open sourced a compliance app to track this. https://www.zenefits.com/blog/zenefits-now-leader-licensing-...
(Most insurance agencies get by with a spreadsheet for this...)
They also list all their licenses here
OTOH, most of these training videos exist for stupid reasons. They don't make brokers any better at navigating ethical dilemmas -- as the content is usually 100% obvious -- nor make them any more predisposed to be ethical. And they training videos did that, and they do actually watch them, said brokers don't remember any of it two days later.
The training, and its mandate, basically exist to protect someone else from liability: "see, we told them you can't lie to potential customers, not our problem!" And that, in turn, probably exists only because we tolerated that defense:
"Yeah, I [did obviously unethical practice] ... but no one never told me I couldn't!"
So we all go through the motions of watching a mandatory training video that tells us nothing we didn't already know and won't remember anyway.