Putting a Price On Your Advice

 

As any agent will tell you, the basic theme for 2009 is that these are challenging times for insurance agents selling group health insurance products. Premiums have risen steadily and the economy has dealt many of your clients a significant financial blow.

Across the country employers are reducing health benefits by raising deductibles and eliminating doctor office co-payments. The challenge to the benefit professional is how to best help your client while simultaneously differentiating yourself from the competition. And how do you do this? The simple answer is that you must change the conversation that you have with a prospect or client.

Pricey problems
Some believe that price is the real issue, simply because it is the easiest feature for an employer to latch onto. There are two reasons that price becomes the topic of conversation.
The first reason has to do with the way group health agents tend to prospect. In getting a prospect on the telephone, most agents open with a variation on, "I would like an opportunity to quote your plan and potentially save you money." The appointment and conversation is now focused on premiums.

The second reason that price is the basis of many renewal conversations is based on the question that the agent asks. When the client complains about the renewal premium increase, the agent asks if the prospect would like to see some alternative plan designs that will get the premium down. From that point everything is focused on premium, and for the most part that means reducing plan benefits.

However, the ability to change the conversation to what really matters is where you as a benefit professional have real value. At PartnersAdvantage while we do focus on premium issues when working with the agent community, but we also ask additional questions:

1.  Would your client be interested in expanding the benefit package within the context of their benefit budget?

2.  In your opinion, which is more important: the actual plan design or your client’s perception of that design?

The most valuable aspect of these questions is that they open the door for us at PartnersAdvanatge to get creative in helping your client or prospect achieve their goals.

Your clients do not need you to simply shop their health plan and provide a spreadsheet. What they need you to do is help them figure out how to achieve a great benefit package that accomplishes their goals. At PartnersAdvantage are here to help you find those great packages. Call us today for a quote, (888) 994-4412 or visit our website at www.getyouradvantage.com.