Have You Heard a Similar Story?

[Peigo]

Have you lost clients,to big payroll companies ? Do you know that The big Payroll Companies are the fastest growing Insurance Agencies in the Country? One Big Payroll company now has over 70,000 Workers Comp policies on the books. The Big Two of Payroll Companies are growing their Insurance side of the business 3X faster than the payroll side. If you, as a agent, are not talking to your clients about payroll it is a fact that their payroll provider is talking to them about Insurance.

Have you experienced this or heard of others who have?

Some Agents are actually funding this competition by using their payroll processing services themselves.

 

[arnguy]

Really???????

 

[Peigo]

Actually, Payroll companies are sending advertisements in their weekly/bi-weekly/monthly payroll envelopes to the companies they are processing.
Their field reps are contacting their clients on a regular basis about payroll & begin the conversation about quoting their insurance.

Many agents do not keep in contact with their clients on a weekly/bi-weekly/monthly basis as do the Big Payroll Companies.

Surprise from behind when the Payroll Companies land a new insurance client from their payroll processing services. That Agent looses their client & a book of business.

 

[the mayor]

This is news to you?
If you're smart.....you'll treat your clients well and not have to worry about it.
You can also work with Payroll sales people.....they have a narrow focus on what they write....get them to refer what they can't write to you.

 

[Fisher]

So if we encourage our business clients to use Peigo Payroll we'll be in better shape, I take it?

 

[plays2win]

I think ADP is selling insurance too.

 

[Guest]

2 minutes of my life I can't get back

 

[CaptiveGuy]

I think ADP is selling insurance too.

That's true, my former coworker works for them makes a killing on workers comp.

ADP Insurance Agency, Inc. | ADP

 

[sgriswold]

ADP and Paychex are now in the business of pitching insurance full time.

Fortunately, as a savvy agent, you have a few things working in your favor:

1) Partner with either a local or smaller payroll vendor. I have a relationship with Ovation Payroll as well as a local NetPay reseller, both of which offer comparable product but at 40% lower cost. Also since they aren't in the insurance biz I have no chance of losing accounts to internal sabotage.

2) the insurance reps within these payroll companies very likely are poorly trained and nearly clueless. Just wait for them to screw up and then come in to fix the problem.

 

[Jim Jenkins]

Have you lost clients,to big payroll companies ? Do you know that The big Payroll Companies are the fastest growing Insurance Agencies in the Country? One Big Payroll company now has over 70,000 Workers Comp policies on the books. The Big Two of Payroll Companies are growing their Insurance side of the business 3X faster than the payroll side. If you, as a agent, are not talking to your clients about payroll it is a fact that their payroll provider is talking to them about Insurance.

Have you experienced this or heard of others who have?

I've lost 70,000 polices.