Need Help with Group Health Problems

[Labman]

Fellas, I'm relatively new to group health sales and have a question to see how you guys handle things.

The biggest obstacle I have ran upon is giving a business a quote, which was better in price and benefits. Yet, they shop me against their current provider after I did all the leg work.

I'm trying to differentiate myself by talking about servicing their accounts etc. but I need to find more reasons for them to fire the current guy and hire me. My goal in not to just walk in and give a quote, hell anyone can do that. I want to offer more so I'm not just another agent wasting my time giving quotes only to be shopped around.

Thanks!

 

[insurehound]

I don't understand...are you saying you get them the quote that is cheaper and better coverage and they give it to their current agent? If so, that has happened to many of us at one time or another. Try keeping the name of the carrier your showing to yourself. When they ask who is the carrier (and they will), tell them that you would rather not say now because you have had the experience of doing all the work just to have a client pass it along to their current agent, etc.

Everyone talks about service; the only way to show that is to prove it. Have you tried getting in the door with Group Life, Dental or LTD? Maybe by starting small and proving that you provide good service, they will switch to you later?

If you're upset that they want to verify what you say is true or shop to see if they can get a better deal...can you blame them? The bottom line is the bottom line, especially now.

 

[SoCalBroker]

Sounds more like a Prospect Qualification problem really.

The term is "Practice Quoting" and you need to STOP it today!

You might try being last in too ... first in for specs - WAY off x-date or open enrollment date, and the last one to present - period.

YOU need to establish the ground rules of the process with the prospect or they are not a REAL prospect - they are simply using you to keep the other broker honest. Happens a million times a yr ...

You need to find a way to establish WHY they are allowing you to present a solution. And if you are able to meet the objectives that they want FIXED ... or DESIRE is there any reason that would prevent them from hiring you and firing their existing broker?

I suspect your pre quote census gathering process has a flaw in it somewhere. You need to find PAIN. Is it the way the controller ha to follow up with the agent all the time to add new hires or terminations? Is it the lame COBRA service they have saddled them with that sux? Is it the owners wife cant see her favorite OB GYN ... or their kids cant see the best Pediatrician in town cuz the guys not in their current plans network ... its there - you have to uncover it.

Best Prices, Best "Service", Quality Coverage from a Blue Chip Carrier are all minimal qualifications to even get the opportunity to present proposals - those are a given. Price and quote unquote "Service" isnt a deal winning formula ... they are mere base ingredients.

Look into Roger Sitkins and another course called the Dynamics of Selling - what you seek is in there. Our sales team is going through the refresher course right now. Gooooood stuff.

All the best,

Steve

 

[ABC]

Fellas, I'm relatively new to group health sales and have a question to see how you guys handle things.

The biggest obstacle I have ran upon is giving a business a quote, which was better in price and benefits. Yet, they shop me against their current provider after I did all the leg work.

I'm trying to differentiate myself by talking about servicing their accounts etc. but I need to find more reasons for them to fire the current guy and hire me. My goal in not to just walk in and give a quote, hell anyone can do that. I want to offer more so I'm not just another agent wasting my time giving quotes only to be shopped around.Thanks!

Welcome to the world of group sales.

When you say service what are you going to do for them?
Claims? Admin? what else?
I would try to go into specifics of what your service is going to be. Will you save them money? Will you save them time?
Will you stay on top of the industry? Does your service include education of the employees? Will you negotiate rate increases at renewal? SO and SO on.
If your going after groups under 10 lives (less than $2,000 in commish) there is a high % that the current broker is not doing any of those services.
If your going after groups 20-50 ( $5,000 + in commish) the current broker should be offering some of those services.

Any groups where the Commission is $10,000 agents are going to value that client so they should work harder to keep them.


You have to take in consideration on why they are letting you quote the business. Use that reason as a selling point also.

 

[Labman]

Good points fellas. I'm going to review how I do things and do a better job of building a wedge between myself and the incumbent agent.