Roger's Benefit

[J-Ro]

I met with a local rep from Roger's last week. It seems pretty straightfoward but I wanted to run it by you guys to make sure I have a firm understanding.

From what he explained to me, basically I'll generate leads and try to set appointments. At that point WE or he goes out to get a census and he gathers quotes for me, sells and enrolls. I get my commissions, Roger gets overrides. Sound right so far? The idea of having someone do the legwork for me sounds wonderful. However, how does it look to the the biz owner when an agent comes in with "help" to close a deal? I'd be going out with him on the appts so I can learn and "get my feet wet". How would I introduce my help?
They only deal with Aetna, BCBS and Principal.

 

[Guest]

All the large GAs will do your sales presentations for you. If you don't know what you are doing, take advantage of it. Small group is fairly straight forward but there is a method to presenting it and the GA folks are good at it as that's all they do.

As for the biz owner, they don't care who makes the presentation. It's all about the cost to them. When I started I just sat next to the GA in the conference room and kept my mouth shut and let her do her show and tell.

Each GA office is its own little world. The Rogers office in my area sucks. But I'm told their office in the LA area rocks. It all comes down to how hard the GA who is assigned to you wants to work.

Also let them do your enrollment for you so you can learn that part of it as well. A good group GA is a real asset, especially on a large, complex group. But for micro-groups of 2-5, you can easily do your own enrollments and go direct to the carrier. You will get the same commission no matter what you do (at least in my area.) Starting out use a GA. Afterward you can decide what you want to do. Personally I like to write my own groups direct because it is one fewer sets of hands the paperwork has to flow through and I make fewer mistakes than most GAs do. (That wasn't always the case!)

Most GAs have excellent sales materials for their carriers, they will run you quotes, and hold your hand. I often look to work with a GA-babe as I think that helps make the sale. My very expensive wife is not so hot on that idea!

Al
Preserve your memories

 

[LGilmore]

Sound right so far?

In a word "no".

Who's account is it? It doesn't sound like yours. What control do you have?

One thing to keep in mind and this is because it has bitten me in the ass so many times over the years... the minute you bring a rep in the door to a business, that employer no longer assumes you are working in his best interests. You become the Blue Cross guy, the Aetna guy, the Unum guy... You stop being their broker and start wearing the hat of whom ever you bring through the door.

Now, that's all fine and good as long as you continue to get the best rates and plan designs from those carriers... but the day you don't... very hard to keep the business as you no longer seem impartial.

Every group over the years where I've allowed a rep come in for a "visit", I've lost. Every group where I haven't, I still have. Maybe it's just a cosmic event, but I won't ever let another rep near my accounts... just something to keep in mind.

 

[BenefitsGuy]

Good point, LGilmore.

Most experienced (seasoned) brokers might let a trusted GA handle some of the smaller groups in their book, but the larger and more valuable clients are never 'shared' with a GA.