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The New Sales Reality For the Health Insurance Agent

The New Sales Reality For the Health Insurance Agent. The Future Is Amazingly Bright!. Three Distinct Worlds. Senior. Group. Individual. Three Distinct Worlds. Senior. Group. Individual. Small Group. Large Group. 20 – 99 EE. Your World Has Been Changing. Commission Compression

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The New Sales Reality For the Health Insurance Agent

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  1. The New Sales Reality For the Health Insurance Agent

  2. The Future Is Amazingly Bright!

  3. Three Distinct Worlds Senior Group Individual

  4. Three Distinct Worlds Senior Group Individual Small Group Large Group 20 – 99 EE

  5. Your World Has Been Changing • Commission Compression • Fewer Carriers • The Rise of the Big Agency • National/Regional Agencies • Banks • Large Rate Increases

  6. And Now The Patient Protection and Affordable Care Act

  7. New Challenges Coming • Increased carrier selectivity in contracting agents • Fee-based versus Commission • Increased standardization of plans • Exchanges

  8. The Big Question

  9. Are You a Major Medical Insurance Agent Or An Insurance Agent That Sells Major Medical and Other Health Insurance Products? Or An HR and Benefit Management Consultant? Mel Schlesinger, RHU, REBC (336) 777-3938

  10. An Insurance Agent That Sells Major Medical and Other Health Insurance Products? Mel Schlesinger, RHU, REBC (336) 777-3938

  11. The HR & Benefit Management Consultant

  12. Make a Difference with Questions • If you ask: “What would you like me to do for you? • Prospects Reply: “Save me money!” • But that is not what they really want

  13. Which do Prospects Prefer? • Rate stability • Or • The Lowest Possible Rates Today

  14. What do companies really want your help with?

  15. Corporate Benefit Objectives • Attract high quality employees • Retain quality employees • Improve morale and productivity • Reduce pressure for increased wages

  16. New Agent Challenges

  17. Challenge # 1Commission Transparency

  18. In a world where clients will know your compensation (whether fee or line item) you must be prepared to justify that compensation

  19. In a world where clients will know your compensation (whether fee or line item) you must be prepared to justify your compensation • Providing a list of services will longer suffice

  20. In a world where clients will know your compensation (whether fee or line item) you must be prepared to justify your compensation • Providing a list of services will longer suffice • You must create value for the client by providing services that are meaningful to the client

  21. Challenge Creating Real Value

  22. Creating Value • The only services that are important are the services that are important to the client • Would it be of value if I were able to consolidate all of your various bills into one single monthly bill? • In what way would that be of value? • If I could take the COBRA liability off of your hands would that be of value to you? • Can you tell me how that be helpful? • In your mind should there be a connection between the benefits that you provide and employee morale and productivity? • Can you elaborate on that a little? • How effective have you been in achieving that connection? • And what has your current broker done or suggested as a strategy to remedy that?

  23. Opportunities Within the PPACA • Section 105 H • Government Grants to Expand Benefits • W-2 Health Insurance Premiums • CLASS

  24. You Must Develop an Entrepreneurial Mindset

  25. For More Information or Assistance Mel Schlesinger, RHU, REBC (336) 777-3938

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