Prospecting for Individual Vs Group

[Bitnis]

I started calling business owners with 5-9 employees. Most of the ones I have talked to have a group plan with as little as 5 employees.

Should I drop down to calling owners with 1-4 employees? It seems like this would be a more targeted group for what I'm looking to do. Yes?

 

[somarco]

Depends.

Are you making money calling on 5 - 9 groups?

 

[DavidD1]

I started calling business owners with 5-9 employees. Most of the ones I have talked to have a group plan with as little as 5 employees.

Should I drop down to calling owners with 1-4 employees? It seems like this would be a more targeted group for what I'm looking to do. Yes?

no...your hitting a good number of employees 5-9! The fact they have a group plan ONLY MEANS they believe in insurance. No argument with cost because many group plans are way over priced with little to know tax incentive for the employee and normally have portable issues....we target this size group and have had a lot of success in the past and to date still goin strong.

 

[Bitnis]

I suppose I should be building a database of everyone I call even if they are on a group plan. Have you found this to be worth the effort?

Should I be looking for anything other than when they renew and who they are with?
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I obviously need to find the holes in the BCBS plan because everyone seems to have it. Most are on their group plan and from what I've read here, breaking those up is not a good idea. Most of the people I've talked to seem to be pretty happy with their BCBS plan. Then again I haven't talked to enough people to come to that conclusion, yet.

 

[Labman]

Blue Cross will not compete against themselves so you need to find another competitor with competive rates.

Find out how cemented they are to their current broker. What is their participation rate? What do they like or dislike about what they now have. I'm sure there is more, but my mind is on vacation.

 

[Bruce]

I suppose I should be building a database of everyone I call even if they are on a group plan. Have you found this to be worth the effort?

Should I be looking for anything other than when they renew and who they are with?
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I obviously need to find the holes in the BCBS plan because everyone seems to have it. Most are on their group plan and from what I've read here, breaking those up is not a good idea. Most of the people I've talked to seem to be pretty happy with their BCBS plan. Then again I haven't talked to enough people to come to that conclusion, yet.

Absolutely.

To me the most opportune time for a small group to go out to bid is when they have had a higher-risk person just leave the plan. Chances are strong that person moved the group either toward or to the very top of any allowed rate band in your state. And the inforce carrier will not move the group down it's rate band off renewal.

To me, the best opportunity on small group is getting in at the time the group becomes a better overall risk. And that's far more likely to be off-renewal.

A lot of agents wil either not be on the ball in terms of even knowing when their client's risk profile has changed or is too lazy to move the group off renewal.

Good luck.

 

[DavidD1]

I suppose I should be building a database of everyone I call even if they are on a group plan. Have you found this to be worth the effort?

Should I be looking for anything other than when they renew and who they are with?
- - - - - - - - - - - - - - - - - -
I obviously need to find the holes in the BCBS plan because everyone seems to have it. Most are on their group plan and from what I've read here, breaking those up is not a good idea. Most of the people I've talked to seem to be pretty happy with their BCBS plan. Then again I haven't talked to enough people to come to that conclusion, yet.

we have a lot of success taking our laptops to the appointment. we have multiple carriers so we can bring up their specific BC plan for instance...show them the holes they have not even seen yet, bring up another carrier that offers what they need without the holes. while we are doing it, some employees come to see whats going on and boom...there's out first renewal. we can give them an instant quote in less than 30 seconds. contact me at [email protected] and either stefanie or will be glad to explain it in debth to you

goodluck

 

[Amber Scherloz]

It will not matter as long as you know that your target group is a prospect client then do good on it. Don't focus on the numbers focus on the relevance of how the prospect may become a target client.