Group Health, Need Big Time Help!
- Thread starter Labman
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- group health
- 1,459
Thanks guys, I'm blushing. This is coming from a man who spent a lot of time doing "free consulting" in the group market until he got wiser. If you let people use you, they will. If you set the parameters upfront, everyone wins.
- 4,096
Great topic
My focus is small group under 50.
What you are running into has a lot of variables.
If you are indeed meeting with the decision maker they might be seasoned to the health insurance industry. You are coming off green. If you are 20 something years old and the owner is 50 something they might be viewing you as a kid. This has happen to me a lot and still does on larger cases.
It sounds to me that your presentation is weak. If you are going in and just reading the proposal that is not good.
What services as a broker are you bringing to the table?
What kind of support can you offer the prospect? What kind of knowledge do you have on the industry?
Keep plugging and eventually you will land a group plan.
The older Agents are starting to drop the ball because they are lazy and do not want to change the way they are doing business. Those are the groups you will have a chance with.
From the sounds of it you are being taken advantage of. You are doing all the work and then they are giving it to their current broker. As mentioned before you have to ask if I bring the right deal to you will you give me the biz. If you see hesitation in the owners eyes you should worry. Then again its worth the risk because if you don't get them this year you could get them down the road.
My focus is small group under 50.
What you are running into has a lot of variables.
If you are indeed meeting with the decision maker they might be seasoned to the health insurance industry. You are coming off green. If you are 20 something years old and the owner is 50 something they might be viewing you as a kid. This has happen to me a lot and still does on larger cases.
It sounds to me that your presentation is weak. If you are going in and just reading the proposal that is not good.
What services as a broker are you bringing to the table?
What kind of support can you offer the prospect? What kind of knowledge do you have on the industry?
Keep plugging and eventually you will land a group plan.
The older Agents are starting to drop the ball because they are lazy and do not want to change the way they are doing business. Those are the groups you will have a chance with.
From the sounds of it you are being taken advantage of. You are doing all the work and then they are giving it to their current broker. As mentioned before you have to ask if I bring the right deal to you will you give me the biz. If you see hesitation in the owners eyes you should worry. Then again its worth the risk because if you don't get them this year you could get them down the road.
- 4,746
Labman,
If you have only been in group health for one year, you are still rather green IMO. No offense.
I was in your shoes many years ago. Trying to move an employer to a diff plan only to have the existing broker take your proposal and move the group.
Most business owners already have an existing relationship with a broker. Golf buddy, neighbor, Rotary, friend of the family, on and on.
If I were you, still in your early years as a health broker, I would focus on very small groups, 2 lives, 3 lives etc. Not much competition from other brokers.
If you are going after larger employer groups, you will be competing against guys like me with 30+ years experience.
Lets say you wanted to buy a 40" flat screen tv at Best Buy. And, you didn't know anything about LED, DLP etc. All the sales people will have varying levels of competence. The tv is going to cost the SAME regardless of you sells it to you. Why not seek the most intelligent sales person???
If you have only been in group health for one year, you are still rather green IMO. No offense.
I was in your shoes many years ago. Trying to move an employer to a diff plan only to have the existing broker take your proposal and move the group.
Most business owners already have an existing relationship with a broker. Golf buddy, neighbor, Rotary, friend of the family, on and on.
If I were you, still in your early years as a health broker, I would focus on very small groups, 2 lives, 3 lives etc. Not much competition from other brokers.
If you are going after larger employer groups, you will be competing against guys like me with 30+ years experience.
Lets say you wanted to buy a 40" flat screen tv at Best Buy. And, you didn't know anything about LED, DLP etc. All the sales people will have varying levels of competence. The tv is going to cost the SAME regardless of you sells it to you. Why not seek the most intelligent sales person???
- Thread starter
- #15
Guys you have given me some most helpful information! And now I can see where I believe the potential problems are. I've definately not been assertive enough in asking about whether they would hire me and for sure my presentation has been weak at best. Asking if they will hire me and differentiating myself are the wink links, that I'm sure of. I'm going to reread every response here, absorb them, but most of all put them into practice!!
My normal groups are about 15 lives, though I have went down to two life cases and have had two with around 50 employees. Right now I basically talk with any group size just to try and get something going.
Do not ever worry about hurting my feelings. Shoot straight and right from the hip. I'm 50 years old, tough as a gator and can handle it. I'm desparate for advice and appreciate everything you guys say regardless of how it's layed out.
Thanks to all of you and keep it coming!!
My normal groups are about 15 lives, though I have went down to two life cases and have had two with around 50 employees. Right now I basically talk with any group size just to try and get something going.
Do not ever worry about hurting my feelings. Shoot straight and right from the hip. I'm 50 years old, tough as a gator and can handle it. I'm desparate for advice and appreciate everything you guys say regardless of how it's layed out.
Thanks to all of you and keep it coming!!
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- 123
Without a large back-end office to support groups, not the insurance provider but a dedicated staff, you will get snuffed. These groups lend their planes, get tickets to the masters and rounds of golf the day before at augusta to close large groups. There is an elite network out there that business owners are well aware of and they want the perks...illegal or not.
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