Large group plans naturally require a different approach to smaller plans as clients have entirely different needs. There’s no doubt working with a General Agency (GA) like the Rogers Benefit Group is of enormous benefit to insurance brokers. Over the years, they’ve learned a lot about working in the large group employer market and can help you navigate the pitfalls that most brokers encounter when tackling large group plans.
Before you dive into the large group employer market, here are three quick tips to supercharge your approach to winning large group business.
Morphing into the large group employer market means dealing with high volume policies therefore there are several questions you must ask yourself. What plans do you have in place to complete a quote summarization? What software will you use to handle the volume and how will support your client’s efforts to communicate benefit options with their employees?
When you work with a GA, these three questions get answered along with many other questions you may not be aware of yet. That’s because you can network with peers who have been there and done that, giving you plenty of advice when it comes to solving difficult client challenges. Having a large network of peers to bounce ideas off offers impressive benefits with exceptional networking opportunities. By tapping into a network of experience, you will avoid the common pitfalls brokers face in the large group market.
The more support you have in quoting large group plans the greater the chances of success. General agencies have an abundance of professional tools at their fingertips you can tap into without reinventing the wheel.
Ongoing education as a personal service is what keeps clients engaged. GAs offer professional training and access to vast resources helping you with writing a proposal, underwriting, assisting you in the enrollment process, and providing training for employers. This is tremendously beneficial as you are able to leverage the years of experience GA’s have working in large group plans. Utilizing the pro-tips outlined in this guide 3 Simple Strategies to Win Large Group Business will get your large group plans off to a fantastic start.
No doubt large group planning has a level of complexity not seen elsewhere and the more support you have the better prepared you will be to tackle unforeseen challenges. Having an expert look over your proposal will eliminate mistakes as they also look for gaps in coverage. Teaming up with experts from a GA will support you as compete with the big brokerage firms and significantly increase the likelihood of winning and retaining large group business.
It’s important to note that not all GA’s are equal. It’s easy to become overwhelmed not having the resources massive agencies have; however, some GAs have greater success rates than others. The difference is in the relationships. As you know, people buy from people, and with the backing of RGB, you build long-lasting relationships allowing you to tap into their extensive knowledge base. With your clients and their employees’ best interests at heart, strategizing with the right GA will exponentially increase your confidence levels in taking on large group clients.
Download this guide of 3 Simple Strategies to Win Large Group Business to add rocket fuel to your large group processes. Find out more about winning large group plans without having to start from scratch by contacting Rogers Benefit Group today.